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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.
Beginner research and education & 24/5 + 18/2 customer support.
A well-balanced asset selection, including Forex and Forex indices.
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.
Deposit and withdrawals in PHP via credit/debit cards and Dragonpay.
MT4/MT5 upgrades via 12 plugins, Trading Central, and Autochartist.
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 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.
Choice of payment processors, including cryptocurrencies & instant deposits
Competitive trading fees in the Multibank ECN account

The Best Philippines Forex Brokers Reviewed by Experts

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  • Pepperstone, Great ECN execution on MT4 platform.
  • FP Markets, ECN trading with leverage up to 1:500.
  • Eightcap, Competitive pricing + excellent daily videos.
  • MultiBank Group, Deep liquidity with no trading restrictions.

Best Philippines Brokers Comparison

Year Established
Execution Type(s)
ECN/STP, Market MakerNo Dealing Desk, NDDECN/STPECN/STP, Market MakerECN/STP
Minimum Deposit
Average Trading Cost EUR/USD
0.1 pips1.1 pips1.1 pips1.0 pips0.1 pips
Average Trading Cost GBP/USD
0.2 pips1.6 pips1.4 pips1.2 pips0.5 pips
Average Trading Cost Gold
$0.18 $0.20 $0.21 $0.12 $0.02
Trading Platform(s)
MetaTrader 4, MetaTrader 5, Proprietary platformMetaTrader 4, MetaTrader 5, cTrader, Trading ViewMetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Web-basedMetaTrader 4, MetaTrader 5, Trading ViewMetaTrader 4, MetaTrader 5, cTrader
Islamic Account
Negative Balance Protection

The Most Trusted & Legit Forex Trading Platform In the Philippines


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.

Read more on FXTM »
4.9/5 in this category

Pros & Cons

  • 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


In Summary Great ECN execution on MT4 platform

Pepperstone ranks among the best Philippines Forex brokers as it ensures a distinct competitive edge with Capitalise AI, enabling algorithmic trading in a code-free environment that few Forex brokers can match. It is also an excellent choice for copy traders who can diversify their portfolios through Myfxbook Autotrade, DupliTrade, and embedded MT4/MT5/cTrader copy trading services. Pepperstone also developed a proprietary mobile trading app for copy and mobile traders.

The 28-plugin Smart Trader Tools package and Autochartist upgrade MT4. Commission-based fees start with raw spreads from 0.0 pips for a $7.00 commission per 1.0 lot and a volume-based rebate program.

Read more on Pepperstone »
4.8/5 in this category

Pros & Cons

  • Excellent choice of trading platforms consisting of MT4/MT5, and cTrader
  • Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
  • Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
  • Leverage of up to 1:30 and superb trade execution
  • Demo accounts have 30-day time limits

FP Markets

In Summary ECN trading with leverage up to 1:500

I rank FP Markets among the best Forex brokers in the Philippines for copy traders as they can diversify via the proprietary FP Markets solution, embedded MT4/MT5/cTrader copy trading services, fee-based Signal Start, and the well-known Myfxbook Autotrade service. It also supports cryptocurrency transactions and offers MAM/PAMM accounts for licensed account managers.

FP Markets combines a well-balanced asset selection with competitive, commission-based trading fees featuring raw spreads from 0.0 pips for a commission of $6.00 per 1.0 standard round lot. Beginners receive quality educational content, daily market reports via the FP Markets newsletter, and 24/7 multi-lingual customer support.

Read more on FP Markets »
4.6/5 in this category

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


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.

Read more on Eightcap »
4.5/5 in this category

Pros & Cons

  • 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

MultiBank Group

In Summary Deep liquidity with no trading restrictions

MultiBankFX complies with 10 regulators and operates offices in 20 countries, ensuring clients have an unmatched global network with deep liquidity pools across major financial centers and in core emerging markets. Traders get the MT4/MT5 trading platforms, which fully support algorithmic trading, and a proprietary copy trading service. The asset selection consists of 55+ currency pairs and 20,000+ equity CFDs and ETFs, while cryptocurrency traders get eleven highly liquid coins. MAM/PAMM accounts cater to traditional retail account management, VPS hosting to algorithmic traders, and FIX API trading to advanced trading requirements featuring custom solutions. A high-paying partnership program also exists.

Read more on MultiBank Group »
4.4/5 in this category

Pros & Cons

  • 20,000 assets offering broad coverage of financial markets
  • Raw spreads from 0 pips and maximum leverage of 1:500
  • MAM/PAMM accounts and proprietary copy trading platform
  • ECN trading with deep liquidity and no requotes
  • Access to raw spreads requires a $5,000 minimum deposit on the ECN account

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.

You might also be interested in reviewing the below top brokers:


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 do I start trading Forex?


You have to start with education, which can take years, depending on your circumstances and abilities. There is no quick way or fast track to achieving consistent profitability. After you master the basics, you can move on to identifying trading strategies suitable to you, opening a leveraged account with one of the best Forex brokers in the Philippines, and working on building your portfolio.

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
About 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.