Best Forex Trading Brokers in The Philippines 2022

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.
Best all around broker
High floating leverage + fast execution
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.
Commission-free trading on 3000+ assets
User-friendly proprietary platform with top-level analysis
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.
Best ECN execution on the MT4 platform
Excellent implementation of cTrader and Smart Trader Tools
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.
Solid services + excellent currency converter
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.
High level regulation in multiple jurisdictions
Impressive range of tradeable assets including vanilla options and gold options

  • FXTM, Best all-around broker with high floating leverage and fast execution.
  •, Best choice of cryptocurrencies.
  • Pepperstone, Great ECN execution on MT4 platform.
  • OANDA, Solid services + excellent currency converter.
  • AvaTrade, Highly regulated, choice of fixed or floating spreads.


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. A multi-regulated and trustworthy broker, FXTM is accessible to all Forex traders in the Philippines due to its low minimum deposit of $10. Over 2,000,0000 traders trust FXTM, 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

  • Proprietary copy trading platform, low minimum deposit, and high leverage

  • Limited choice of cryptocurrencies and commodities

5.0/5 in this category
In Summary
Best choice of cryptocurrencies is a leading forex and CFD brokerage making waves in the Philippines. Traders interested in both forex and CFDs will find access to over 4,000 different markets including FTSE 100, and popular global brands such as Twitter, Facebook, Apple, Amazon and many other popular brands. Founded in 2016, features a high level of regulation which includes the United Kingdom Financial Conduct Authority (UK FCA), the Cypress Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), with additional regulation through the National Bank of the Republic of Belarus (NBRB). 

  • Excellent Forex and cryptocurrency selection

  • A competitive commission-free pricing environment

  • Award-winning proprietary trading platform alongside MT4

  • High-quality educational section built around Investmate

  • Leverage for FCA/CySEC clients restricted to 1:30

  • Limited deposit and withdrawal methods for many international clients




4.5/5 in this category
In Summary
Great ECN execution on MT4 platform

Pepperstone has been in operation in multiple locations across the world, and including in the Philippines, since 2010. Based in Australia, Pepperstone is regulated through several regulators, which includes no less than two tier-1 regulators in the Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA). In addition; Pepperstone is regulated by two tier-2 regulators in the Cyprus Securities and Exchange Commission (CySEC), and the Dubai Financial Services Authority (DFSA). Pepperstone offers a variety of trading platforms including MT4, MT5 and cTrader. 

  • 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




4.5/5 in this category
In Summary
Highly regulated, choice of fixed or floating spreads

AVA Trade offers Philippine Forex traders an excellent choice of trading platforms. Besides the market-leading MT4 and its successor MT5, the user-friendly proprietary WebTrader offers manual traders an attractive alternative. Options traders will trade from AvaOptions, and Philippine traders who prefer trading from their mobile phones will do so from AvaTraderGO. DupliTrade and ZuluTrade, two industry leaders in this growing sub-sector of trading, support social trading.

  • High-quality educational offering via SharpTrader

  • Excellent choice of trading platforms catering to various trading needs

  • Broad asset selection and cross-asset diversification opportunities

  • Well-regulated and trusted broker with oversight from a central bank

  • Trading costs competitive but nothing special

Why should you trade Forex in the Philippines?

The Philippines is an archipelagic country in the Pacific Ocean, consisting of approximately 7,641 islands. English is one of its two official languages, which fosters swift global communications. The economy is classified as a newly industrialized country, transitioning from agriculture into services and manufacturing. Science and technology play a significant role in the Philippines. Forex trading is part of everyday life for many companies and individuals throughout the country, since the Philippines relies heavily on export and tourism. The Philippine Peso (₱) or (PHP) is the currency and FX trading is growing in popularity. International Forex brokers do not require a license by the Philippine Securities and Exchange Commission (SEC). Many accept traders from the Philippines and are eager to provide their services to citizens of the Philippines.

While over 45% of the population lives on less than $2 per day, remittances cover the shortfall. They are essential to the domestic economy, surpassing foreign direct investment as a source of foreign capital. Therefore, Forex is known to most in the Philippines and is practiced monthly. Tourism was outlined by the government as one of the sectors to redistribute wealth and bring more Forex opportunities. The younger population is showing a growing interest in Forex trading in the Philippines. There are no well-established domestic Forex brokers, but many international Forex brokers cater to Philippine traders. Numerous educational companies, mentors, and coaches in the Philippines expand the reach of the Forex market among the vibrant Philippine culture.

Trading Forex in the Philippines can unlock a sustainable income stream and stabilize your financial situation. While this will require time, dedication, and discipline, the long-term beneficial impact is well worth the effort. Since the Philippines continues to grow economically, and with incomes gradually improving, the addition of Forex trading will add to the overall financial condition of traders. Since many in the Philippines remain indirectly exposed to traditional Forex trading via remittances sent from family members overseas, a more direct approach would represent the next step. Technological advancements make Forex trading accessible to everyone. Since the Forex market operates 24/5, it offers a convenient way to increase your revenues as you can develop a plan around your day job. Almost all international Forex brokers accept Philippine traders, and you have plenty of choices to find your best Forex broker in the Philippines.

The highly liquid market and selection of currency pairs create trading opportunities at almost all times. Using leverage, you can increase your buying power and boost your profitability, but you must use it together with risk management. Otherwise, you will likely face losses. The direction of the market does not matter, as you can earn when an asset increases by going long or buying, and if the asset decreases by going short or selling. All that matters to you is to be on the right side of the trade. It offers you flexibility and numerous trading strategies to follow. Those who have less time to trade may also use automated trading solutions – also called expert advisors (EAs) by MT4, the leading automated trading platform. Over 20,000 exist on the MT4 infrastructure, with more continuously added. Social trading represents another alternative, together with account management services. The Forex markets created numerous avenues for traders to earn money.

Why should you not trade Forex in the Philippines?

The Forex market remains volatile and risky for those without experience. Therefore, you must learn about trading before you can earn from it. Regrettably, there are many scams and frauds in the Forex market. The Philippines experiences a high volume of those, which prompted the Philippine Securities and Exchange Commission (SEC) to issue an advisory in October 2018, labeling Forex trading illegal in the Philippines. The advisory is no longer available on the SEC website. The aim of the SEC was not to ban Forex trading, but to stop the massive degree of fraud against Philippine traders. Those who want to inquire about the current status may contact the Enforcement and Investor Protection Department (EIPD).

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.

Forex Trading Strategies

After you determine the best Forex trading platform in the Philippines, and you've spent enough time educating yourself on how to trade Forex, it is time to proceed to the next step. You can get an excellent education from one of the many free courses online, via a Forex trading Philippines guide, or from your Forex broker. Funding your account will be simple, but you need to select one trading strategy that suits your style. If you do not have one yet, find one that fits your personality.

Here are five Forex trading strategies to consider:

  • Scalping - This requires raw spreads, which come with a commission cost, as you will trade high volumes on short timeframes to capture a few pips, often single digits. Find a Forex broker with a loyalty or reward program for high-frequency traders, as it will lower your trading costs and boost your profits.
  • Day Trading - You will close all your positions during the day, never holding overnight trades. It eliminates swap charges and eradicates the risk of unexpected developments while you are asleep. Trading decisions remain purely based on technical analysis. For diversification purposes, you want a Forex broker with a broad asset selection.
  • News Trading - It attempts to profit from the volatility following immediately after an economic release. You will require an in-depth economic calendar and a Forex broker with an excellent technological infrastructure to avoid slippage and requotes, which often accompany volatility spikes.
  • Swing Trading - Momentum indicators form the backbone of this strategy, together with candlestick patterns. You may hold positions overnight and often trade a few assets, but when you exit one, you will also enter a trade in the opposite direction to capture the reversal. Swing traders usually take continuous trades in range-bounce assets.
  • Trend Trading - This strategy is for long-term traders who follow the trend. You will only trade in well-established trends, analyzing the assets every day, and also pay attention to fundamental developments to gauge a pending trend reversal.

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.


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 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.

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.