Forex Brokers in The Philippines

Forex trading in the Philippines is growing in popularity on a yearly basis. Below is a list of the best Forex brokers in the Philippines, chosen by our analysts, explaining what each broker has to offer to help you find the right broker.

The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
A user-friendly, proprietary mobile app, FXTM Trader
Quality education and research for beginner traders
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Proprietary copy trading service with an active trading community
Generous bonuses and incentives & swap-free trading for all traders
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Capital adequacy ratio of 40%, four times the capital-to-risk weighted exposure ratio.
24/7 multilingual support & high-paying partnership program with cashback rebates
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Dragonpay, which accepts PHP as a deposit and withdrawal currency.
Quality education for beginners & excellent research tools, including Trading Central
The ratings shown on are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
One payment processor accepting PHP deposits and withdrawals (PSP Virtual Account)
Algorithmic trading without coding via Capitalise AI & Crypto Crusher

The Best Philippines Forex Brokers Reviewed by Experts

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • Octa, A commission-free broker with a proprietary copy trading service..
  • FXGT, Great mix of Forex and crypto assets.
  • FP Markets, ECN trading with leverage up to 1:500.
  • Eightcap, Competitive pricing + excellent daily videos.

Best Philippines Brokers Comparison

< scroll for more details >
CMA, CySEC, FCA, FSC Mauritius, FSCA CySEC, FSCA, MWALI International Services Authority CySEC, FSA, FSCA ASIC, CySEC, FSCA ASIC, CySEC, FCA, SCB
Year Established
2011 2011 2019 2005 2009
Execution Type(s)
ECN/STP, Market Maker Market Maker ECN/STP, Market Maker ECN/STP ECN/STP, Market Maker
Minimum Deposit
$500 $100 $5 $100 $100
Average Trading Cost EUR/USD
0.1 pips 0.9 pips 0.1 pips ($1.00) 1.1 pips 1.0 pips
Average Trading Cost GBP/USD
0.2 pips 1.3 pips 0.1 pips ($1.00) 1.4 pips 1.2 pips
Average Trading Cost Gold
$0.18 $0.30 $0.15 $0.21 $0.12
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platform MetaTrader 4, MetaTrader 5, Proprietary platform MetaTrader 4, MetaTrader 5 MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-based MetaTrader 4, MetaTrader 5, Trading View
Islamic Account
Negative Balance Protection
Visit Website Visit Website Visit Website Visit Website Visit Website

The Most Trusted & Legit Forex Trading Platform In the Philippines


5.0/5 in this category
In Summary
Best all-around broker with high floating leverage and fast execution

FXTM remains a contender for the Best Forex Broker in the Philippines Award. It is a multi-regulated and reputable broker, trusted by over 2,000,0000 traders, where maximum leverage of 1:2000 and its excellent educational section offer new traders a competitive start to trading Forex in the Philippines.

  • Excellent commission-based Forex pricing environment and transparency

  • Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app

  • Quality market research and educational content for beginner traders

  • A highly regulated broker with a tier-1 license

  •  No cryptocurrencies and limited choice of commodities


5.0/5 in this category
In Summary
A commission-free broker with a proprietary copy trading service.

Founded in 2011, Octa is a “Straight Through Processing” (STP) broker, which means they do not have an internal dealing desk. They simply connect buyers and sellers directly. With this model, Octa aims to be more cost-effective than anyone else in the market. They offer low spreads and claim 97.5% of trades are executed without slippage.

Octa offers their clients a choice of three Forex trading platforms: the world’s most popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). All of these can be traded as a desktop application, and on Android and iOS devices.

Octa is an unregulated broker but continues to earn the trust of traders around the globe, with more than 1,500,000 accounts opened. One reason for the ongoing success of this market maker is appealing bonus campaigns. This broker paid out almost $3,000,000 in bonus funds. Octa offers traders the MT4 and MT5 platforms, and a proprietary mobile trading platform. Octa additionally grants their clients Autochartist, but traders require a Silver Level in the Status Program. Traders have a choice between fixed and floating spreads, and the overall cost structure remains competitive.

Asset selection remains the distinct weakness at Octa, making it most suitable for new retail traders. A series of short educational articles offers a basic Forex introduction, and this broker maintains an excellent arsenal of research and analytics tools.

Octa Pros & Cons

  • Quality educational tools and generous bonuses

  • Low minimum deposit and high leverage

  • Proprietary copy trading service and status program for improved conditions

  • Commission-free and swap-free cost structure

  • Limited asset selection


5.0/5 in this category
In Summary
Great mix of Forex and crypto assets

Traders at FXGT can benefit from low trading fees, a swap-free allowance between three to six days, maximum Forex leverage of 1:1000 with negative balance protection, and a well-regulated trading environment with a €1,000,000 liability insurance policy. All four account types have a $5 minimum deposit requirement, ensuring traders can access the cost structure they prefer, making FXGT one of the best brokers in the Philippines.

The MT4/MT5 trading platforms support algorithmic and copy trading, and Free VPS hosting is available with reasonable requirements. The payment processors include Bitwallet and STICPAY, while the balanced asset selection offers cross-asset diversification opportunities.

  • Deposit bonuses and financial transactions in cryptocurrencies

  • Tier1 liquidity aggregation and low latency trade execution

  • Good cryptocurrency selection, including synthetic cryptocurrency pairs

  • Low minimum deposit and high leverage with negative balance protection

  • Clients resident in USA, EU, and UK not accepted.

FP Markets

4.5/5 in this category
In Summary
ECN trading with leverage up to 1:500

fpmarkets is an ASIC-regulated Australian brokerage which launched in 2005. For most traders, the unique selling point of this broker is in the extremely wide range of tradable assets offered, providing the opportunity to trade over ten thousand individual stocks and shares including publicly quoted Hong Kong and Australian companies. Ffpmarkets also offers 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin. fpmarkets offers an unusual hybrid ECN/STP execution model, meaning their clients can choose between ECN style of execution giving a very high level of speed, and a “straight through processing” execution style which allows for more “natural” spreads.

FP Markets Pros & Cons

  • Choice of trading platforms and auxiliary trading tools

  • Very competitive cost structure and excellent asset selection

  • Low minimum deposit requirement and leverage of up to 1:500

  • Well-regulated and trustworthy

  • Availability of Iress geographically restricted


4.5/5 in this category
In Summary
Competitive pricing + excellent daily videos

Forex trading in the Philippines remains plagued by frauds and scams. Eightcap is a shining example of a trustworthy Forex broker, offering Forex traders in the Philippines quality education and a cutting-edge trading environment. Beginners will benefit from the MT4 guides available at Eightcap and can use Capitalise AI to automate strategies in a code-free environment.

The minimum deposit of $100 and the minimum lot size of 0.01 lots ensures a low entry requirement for Forex trading. The MT4/MT5 trading platforms are available as a mobile app, which remains among the most popular means of Forex trading in the Philippines.

  • Low minimum deposit and high leverage of up to 1:500

  • Competitive cost structure

  • Excellent technology infrastructure and seasoned management team

  • Daily research and quality educational content

  • Limited leverage in some areas

Forex Trading Regulations in the Philippines

The Philippine Securities and Exchange Commission (SEC) remains the sole regulatory body with oversight of the domestic Forex market. International Forex brokers do not need a license by the SEC to accept Philippine traders, but the rules and regulations change as the country attempts to reign in fraud and scams. Contacting the Enforcement and Investor Protection Department (EIPD) can provide clarity, and you can report scam and fraud attempts.

How to Verify SEC Authorization

The SEC does not maintain a list of authorized Forex brokers, but traders can check the website for claimed registration by a company or contact them via e-mail or phone.

Is Trading Forex Legal in the Philippines?

Yes, forex trading is legal in the Philippines if the broker is authorized by the Securities and Exchange Commission (SEC) which are regulating the securities industry in the Philippines responsibale for - There is no law prohibiting Forex trading in the Philippines.

However, confusion has been caused by a statement released in 2018 by the Republic of the Philippines’ Securities and Exchange Commission which simply stated that “foreign exchange trading is illegal in the Philippines”. Exactly how and on what basis it is illegal, was left unsaid.

It is true that there are no Forex brokers licensed and regulated in the Philippines, so Philippine resident Forex traders must trade with offshore brokers. It is therefore especially important that well-regulated Forex brokers in reputable jurisdictions are used.

How Can I Start Forex Trading in the Philippines?

The first step is committing to making a serious attempt at trading Forex successfully. This will take some hard work - if you aren’t prepared to study, you almost certainly will not be successful at it. Most most new traders find it is a challenging process, both practically and psychologically. If you are a patient person and you can spend time on your own in front of a computer figuring out puzzles without losing patience, then you might have the right personality and skill set to be good at trading Forex.

It is also important that you accept an outcome where you lose money, especially at the beginning, as almost all traders struggle to avoid significant losses while they are learning. If you are a compulsive gambler, or if you have no ability to take a series of controlled losses by limiting your risk, you will struggle to succeed at trading Forex.

If you decide to try to become a profitable Forex trader, you will need enough money to get started. Although there are many Forex brokers that do not require any minimum deposit, to trade safely and limit your risk appropriately you need at least $12 if you are trading nano-lots, or $120 if you are trading micro-lots. Typically, the higher the sum you deposit with a broker, the better trading conditions you will get in return.

The last step in starting Forex trading is opening a demo account with the best broker for you, and then after practicing, opening a real money account. You will be able to choose the best Forex broker for you by reading the rest of this article and assessing each of the Forex brokers listed here.

Types of Forex Markets in the Philippines

While your Forex broker handles all aspects of trading, you should know the different types of Forex markets in the Philippines because some brokers offer you a choice. Most retail trading remains confined to derivatives via contracts for difference (CFDs).

Here are three types of Forex markets:

  • Spot Forex Market - It refers to the physical exchange of currency pairs on the spot at the given market rate. Forex trading in the Philippines often occurs using spot rates; for example, rates for exchanging currencies at your bank or exchanging at your office. Forex brokers also grant access to spot rates for CFD trading.
  • Forward Forex Market - The buyer and seller agree to exchange currencies at a set price in the future or at the forward rates.
  • Futures Forex Market - It is similar to the Forward Forex Market, but the contracts are legally binding. The buyer and seller must change the agreed amount of currencies at the specified price.

What Is the Best Time to Trade Forex in the Philippines?

Interesting Forex trading opportunities can appear at any time while the Forex market is open. However, the best time to trade Forex is usually during the most liquid market hours, and the time of highest liquidity in the Forex market for most currency pairs typically occurs during the London / New York overlap. . In the Philippines, these hours occur between 8pm and Midnight local time Monday to Friday. The most liquid days of the week are usually Wednesday and Thursday. The time zone location of the Philippines means that trading Forex in the evening after work can be a great way to get started.

If you are must trade during Philippines business hours, you will probably do best to focus on trading Asian currencies such as the Japanese Yen, as these are typically more liquid than European or American currencies at these times.

What Time Does the Forex Market Open in the Philippines?

The Forex market is open continuously from Monday morning in New Zealand until the close of business hours in New York on Friday, which is basically all hours except weekends. This means that most Forex brokers offer continuous trading from 5am Monday until 4am Saturday every week local Philippines time.

In the Philippines, the London session opens at 3pm, and the New York session opens at 8pm.


FX trading in the Philippines offers numerous economic opportunities, but traders must remain careful. Given the size of the Forex market, there are plenty of scams and frauds, some with very appealing marketing campaigns supporting their claims. They pry on new traders without experience to lure them out of hard-earned capital. Use common sense, and if an offer sounds too good to be true, it most likely is. Remember that professional traders average between 8% to 15% per year. The Forex market, given its liquidity, can deliver above that for skilled traders. Rather than wasting your time on social media hypes or making decisions based on cold calls, which no genuine Forex broker conducts, your first step to becoming a successful Forex-trading Philippines member remains education.

There are highly valuable educational courses and trading academies 100% free of charge. You may also find a dedicated Forex trading Philippine guide and never pay for the education. All the material is available without additional costs. Never rush the educational process, as it will form the backbone of your success. Remember to check the current status of Forex trading in the Philippines by the SEC by calling the Enforcement and Investor Protection Department (EIPD). Almost all international Forex brokers accept traders from the Philippines. Once you decide that you are ready, open an account with one of the top Forex brokers in the Philippines, make a small deposit or take advantage of a no-deposit offer, and continue to learn until you achieve consistent profitability. Following that, you can create a deposit plan, grow your portfolio via monthly deposits and trading income, and slowly start on your path to becoming a successful Forex trader who can enjoy its benefits. Rushing the process will grant you a place among the 75% to 85% of retail traders that operate portfolios at a loss.


Where can I trade Forex in the Philippines?

Almost all international Forex brokers accept traders from the Philippines, and they are not required to hold a Philippine SEC license. The regulator did issue two advisories against Forex trading, making it illegal amid the high number of scams and frauds committed against Philippine traders, and the condition continues to evolve.

How much money do I need to start Forex trading in the Philippines?

It depends on how much you try to earn, and there is no simple answer. Professional traders average between 8% to 15% per year, while some achieve two to three times that amount. A portfolio below $1,000 will narrow your trading potential. Therefore, start with what you feel comfortable with, and grow your portfolio until the balance can support what you try to earn. It is usually a multi-year process, but those who remain committed to it can frequently enjoy the rewards the Forex market has to offer.

Is Forex trading allowed in the Philippines?

There are no laws against Forex trading in the Philippines, although no onshore broker is licensed to provide this service. The Republic of the Philippines Securities and Exchange Commission claimed in 2018 that Forex trading is illegal, but provided no evidence to back up this claim, nor has anyone ever been prosecuted in the Philippines for trading Forex.

Is there a tax on Forex trading in the Philippines?

Yes, individuals resident in the Philippines are liable to pay income tax on all their income, including trading profits, over 250k pesos in a tax year. Tax is applied at marginal rates from 20% to 35%.

What time does the US market open in Philippines time?

The US stock market opens at 9:30pm local Philippines time.

Can I buy US stocks from the Philippines?

Yes, you can buy US stocks from the Philippines, either by using a wide range of offshore stock or CFD brokers, or through a local bank offering share dealing services.

What is the best trading platform in the Philippines?

The best Forex trading platform in the Philippines is widely considered to be MetaTrader 4.

What is the best time to trade Forex in the Philippines?

Times of highest market liquidity are usually considered to be the best time to trade Forex. In the Philippines this corresponds to weekdays between 8pm and Midnight.

Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.