Best Forex Brokers in the Philippines for 2026
We rigorously test brokers on real accounts and evaluate them using our methodology. Here are the top 10 trading platforms in Philippines based on our analysis:
- 1
AvaTrade - Best Forex broker Philippines - A wide selection of financial assets. Innovative trading platforms. Highly rated educational resources. - 2
XM - Wide range of trading assets. Extensive educational resources. Tight spreads on the Ultra Low account. - 3
FP Markets - Robust regulation, serious fund protection plus segregated accounts in AA banks. Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server. Rich selection of trading platforms. - 4
Eightcap - Support for popular platforms MT4, MT5, and integration with TradingView. Over 800 trading instruments, including 160+ cryptocurrency CFDs. Regulated by ASIC, FCA, CySEC, and SCB. - 5
easyMarkets - Regulated in many jurisdictions. Unique risk management tools (dealCancellation, Freeze Rate). Access to various trading platforms. - 6
Roboforex - A variety of trading platforms. Over 12,000 trading assets. Different types of trading accounts. - 7
FxPro - Various trading platforms. A diverse range of available markets and products. Multiple analytics tools. - 8
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HF Markets - Regulated by reputable financial authorities. Wide selection of trading assets. A variety of educational materials and analytical reviews.
The Forex industry in the Philippines is a vibrant and expanding market, populated by many brokers catering to traders' diverse needs. Our team has conducted comprehensive research to curate a definitive guide to the Best Forex Brokers in the Philippines for novices. This carefully selected list is intended to guide you toward choosing a broker that not only aligns with your trading strategies but also ensures the safety and security of your funds.
Comparison of the Best Forex Brokers in the Philippines
| Broker | AvaTrade | XM | FP Markets |
|---|---|---|---|
| Rating | 4.7/5 | 4.7/5 | 4.7/5 |
| Foundation Year | 2005 | 2009 | 2005 |
| Regulated in Countries | Ireland, British Virgin Islands, Australia, South Africa, Japan, United Arab Emirates, Israel, Canada | Belize, Cyprus, Australia, South Africa, United Arab Emirates, Mauritius, Seychelles | Australia, Cyprus, South Africa, Saint Vincent and the Grenadines, Seychelles |
| Regulators | |||
| Minimum Deposit |
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| Trading Accounts |
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| Spread | from 0.6 points | from 0 points | from 0 points |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | AvaTrade Review | XM Review | FP Markets Review |
| Broker Comparison | |||
| Register | RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds | RegisterTrading CFDs carries high risks. You may lose all invested funds |
List of the Best Philippines Forex Brokers for 2026
1. AvaTrade
AvaTrade is ideal for traders looking for various trading tools and a high level of investment protection. Beginners will be comfortable with the intuitive interface of the AvaTradeGO mobile platform, while experienced traders will appreciate the depth of MetaTrader's customization and analytical tools. However, traders who need access to STP or ECN accounts should pay attention to other brokerage companies.
Pros and Cons of AvaTrade
Pros
- A wide selection of financial assets.
- Innovative trading platforms.
- Highly rated educational resources.
Cons
- Limited trading account options.
- Account inactivity fee.
2. XM
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inactivity fee.
- Standard account has a higher spread than the market average.
3. FP Markets
FP Markets successfully combines a strict licensing framework, a fast ECN order book with zero spreads, a rich selection of platforms — ranging from classic MT4/5 to TradingView and Iress DMA — and a developed analytics, education, and 24/7 support infrastructure. This combination makes the broker attractive for active scalpers and algorithmic traders who value speed and moderate commission per lot, as well as for investors preferring copy trading, PAMM/MAM, or DMA stocks via Iress. Beginners will benefit from a low entry of 100 AUD, online courses, and no inactivity fees.
Pros and Cons of FP Markets
Pros
- Robust regulation, serious fund protection plus segregated accounts in AA banks.
- Competitive trading conditions: spreads from 0 pip, commission 6 USD/lot; execution ≈ 20 ms on the NY4 server.
- Rich selection of trading platforms.
- Wide range of instruments.
- Numerous deposit/withdrawal methods.
- Strong analytics and education.
- 24/7 support.
Cons
- Lack of cent accounts and fixed spread accounts.
- Some analytical materials and software are accessible only with a deposit or trading volume.
4. Eightcap
Eightcap is a modern broker with reliable regulation, convenient MT4, MT5, and TradingView platforms, and a wide selection of instruments, including over 160 cryptocurrency CFDs. It suits traders who value technology, fast market access, and competitive trading conditions. The broker will be especially interesting for active traders and those who use CFD instruments, but is less convenient for investors seeking passive trading solutions.
Pros and Cons of Eightcap
Pros
- Support for popular platforms MT4, MT5, and integration with TradingView.
- Over 800 trading instruments, including 160+ cryptocurrency CFDs.
- Regulated by ASIC, FCA, CySEC, and SCB.
- Convenient deposit and withdrawal methods with no fees.
- Modern analytics tools: AI economic calendar and FlashTrader for MT5.
Cons
- No cent or Islamic accounts.
- No passive trading solutions (copy trading, PAMM).
5. easyMarkets
easyMarkets is a reliable international broker with nearly 25 years of experience, licenses from leading regulators (CySEC, ASIC, FSCA, etc.), and a focus on simplicity and trading safety. It suits beginner traders thanks to a low minimum deposit from 25 USD, fixed spreads, and a convenient proprietary platform with unique risk management tools. At the same time, the broker will also appeal to more experienced users thanks to the availability of MT4, MT5, TradingView, Islamic accounts, and VIP service. Despite a relatively average selection of CFD instruments and the absence of passive trading services, easyMarkets delivers a good combination of reliability, technology, and customer support.
Pros and Cons of easyMarkets
Pros
- Regulated in many jurisdictions.
- Unique risk management tools (dealCancellation, Freeze Rate).
- Access to various trading platforms.
- Minimum deposit from 25 USD, convenient for beginners.
- A wide range of deposit and withdrawal methods, including cryptocurrencies.
- Strong analytics (Daily Pitch, AI reviews, trading signals).
- Competent support with many contact channels.
Cons
- High swaps compared to competitors.
- No cent accounts or passive trading services (PAMM, copy trading).
- Average number of CFD instruments, behind market leaders.
6. Roboforex
RoboForex is recognized as one of the few Forex brokers with an impeccable reputation. The company strictly adheres to its regulations, does not delay payments, and provides fair quotes. RoboForex can be a good choice for both novice and professional traders due to its robust offerings, which include a variety of trading instruments, account types, platforms, and competitive trading conditions. The broker's commitment to transparency and customer service further solidifies its standing in the Forex community.
Pros and Cons of Roboforex
Pros
- A variety of trading platforms.
- Over 12,000 trading assets.
- Different types of trading accounts.
- Competent 24/7 customer support.
- Loyalty programs and bonus offers for clients.
- Low spreads and fees.
Cons
- Regulation in an offshore jurisdiction.
- Beginner traders may find a lack of educational materials.
7. FxPro
FxPro provides a comprehensive range of services and tools for traders. With its variety of trading accounts, platforms, and available markets, it is well-suited to meet the needs of different traders. This broker suits traders looking for a wide selection of markets, diverse platforms, and analytical tools. It is also apt for beginner traders, thanks to the educational materials and experienced traders who value flexible trading conditions.
Pros and Cons of FxPro
Pros
- Various trading platforms.
- A diverse range of available markets and products.
- Multiple analytics tools.
- Extensive educational materials.
Cons
- An inactivity fee.
- Absence of cent accounts and services for copying trades.
8. Plus500
Plus500 is ideal for traders seeking a convenient and intuitive platform with a broad spectrum of trading instruments. It's particularly well-suited for those who value a diverse range of CFDs on stocks, indices, currencies, commodities, and ETFs. The built-in Insight+ analytics tool is a significant advantage for those keen on analyzing trends and activities based on real-time data.
Pros and Cons of Plus500
Pros
- Diversity of trading assets.
- Intuitive trading platform.
- 24/7 support.
- Built-in analytics.
Cons
- Limited channels for communication with technical support.
- Limited choice of trading accounts.
9. Exness
Broker Exness is one of the most attractive companies offering brokerage services for clients worldwide in the Forex market.
Partnership with leaders in financial analytics, minimal commissions, numerous positive client reviews, a well-established operational scheme, and a decent selection of real assets and account currencies makes trading with the broker profitable and secure.
Pros and Cons of Exness
Pros
- Wide selection of trading accounts.
- Instant fund withdrawal.
- Variety of trading platforms.
- A variety of analytical tools.
Cons
- Limited selection of educational materials.
- Average selection of markets and products.
- Deposit fees.
10. HF Markets
HF Markets is a reliable and appealing Forex broker, offering a wide selection of trading assets, a variety of account types, and access to the popular trading platforms MetaTrader 4 and MetaTrader 5. With its regulation and industry experience, the company has earned a reputation as a dependable partner for traders of varying experience levels.
HF Markets is recommended for those seeking a trustworthy and vetted broker with favorable trading conditions and customer support.
Pros and Cons of HF Markets
Pros
- Regulated by reputable financial authorities.
- Wide selection of trading assets.
- A variety of educational materials and analytical reviews.
Cons
- There is no alternative to MetaTrader.
- High swaps and wide spreads.
Regulation of Forex Trading in the Philippines
The main challenge in the regulatory landscape for Forex trading in the Philippines arises from the Securities Exchange Commission's (SEC) prohibition on trading with leveraged products. This restriction forces traders in the Philippines to engage with international brokers, many of whom are licensed in foreign jurisdictions. However, not all international brokers operate under regulatory oversight, posing a risk to traders. Therefore, traders in the Philippines must exercise caution and select a reliable and trustworthy broker to trade Forex.
How We Compiled the Best Forex Trading Platforms in the Philippines
Our meticulous approach to selecting the best trading platforms in the Philippines involved a rigorous and holistic assessment:
Our selection of brokers is drawn from our comprehensive list of Forex brokers.
These Forex and CFD brokers are assessed based on our established evaluation methodology.
Each broker listed is open to Forex traders from the Philippines, ensuring accessibility and inclusivity.
Our criteria were designed to ensure that our curated top Forex brokers, regulated within the Philippines, adhere to the highest reliability standards and offer trading environments essential for secure and efficient participation in the Forex market.
FAQ
Is Forex Trading Legal in the Philippines?
Yes, Forex trading is legal in the Philippines, provided the local broker is authorized by the Securities and Exchange Commission (SEC), which regulates the country's securities industry. Despite no law explicitly prohibiting trading Forex in the Philippines, a statement released by the Republic of the Philippines’ Securities and Exchange Commission in 2018 caused confusion by declaring “foreign exchange trading is illegal in the Philippines” without specifying the details or basis for this claim.
It's important to note that there are currently no Forex brokers licensed and regulated within the Philippines, meaning Philippine residents who wish to engage in Forex trading must do so with offshore brokers. Consequently, traders must choose well-regulated international Forex brokers in reputable jurisdictions to ensure safety and compliance.
What is the Best Time to Trade Forex in the Philippines?
The best time to trade Forex in the Philippines is during the overlap of major trading sessions such as the London and New York sessions, typically from late evening to early morning in Philippine time. For precise times, refer to our Forex Market Time Converter.
Are Forex Brokers Regulated in the Philippines?
Yes, Philippines Forex brokers are regulated by the SEC. This ensures they adhere to strict financial standards and practices, providing traders a safer trading environment.
How Do Forex Brokers Make Money?
Forex brokers make money primarily through spreads, which differ between the bid and ask prices of currency pairs. Some also charge commissions on trades or fees for various services. To see examples of brokers that combine competitive pricing with tight spreads, check out this list of top Forex brokers with low spreads.
Do Forex Traders Pay Tax in the Philippines?
Yes, forex traders in the Philippines must pay taxes on their trading profits. The specific tax rates and regulations can vary, so it's advisable to consult with a tax professional.
What Are the Minimum Capital Requirements for Forex Trading in the Philippines?
The minimum capital required to start Forex trading in the Philippines varies by broker. Some brokers for beginners allow traders to start with as little as $50, while others may need more.
How to Avoid Forex Trading Scams?
To avoid Forex trading scams, always trade with regulated brokers, be skeptical of promises of high returns with little risk, and do thorough research before investing. Be cautious of unsolicited offers and ensure the broker's credibility by checking their regulatory status.
Can I Trade Forex Without a Broker?
You cannot trade Forex without a broker because brokers provide access to the Forex market. They offer the platforms and tools necessary for trading.
What Are Managed Forex Trading Accounts?
Managed Forex trading accounts are investment accounts where a professional trader or a trading company makes trading decisions on behalf of the client, aiming to generate profits in exchange for a fee or a percentage of the profits.
What is Negative Balance Protection in Forex Trading?
Negative balance protection is a policy offered by some forex brokers that prevents traders from losing more money than they have in their trading account, protecting them against owing money to the broker in volatile market conditions.
Why Is Forex Trading Popular in the Philippines?
Forex trading is popular in the Philippines due to its accessibility, the potential for high profits, the flexibility of trading hours, and the low initial investment required. It allows Filipinos to participate in the global financial markets.
