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Best Forex Brokers Philippines 2023

BrokerNotes.co

Written by BrokerNotes.co

April 24, 2023

Here are the best forex brokers accepting residents of Philippines as clients.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • IG
    - 9.9/10 Overall
  • FOREX.com
    - 9.3/10 Overall
  • XTB - 9/10 Overall
  • AvaTrade - 8.6/10 Overall
  • XM Group - 8.4/10 Overall
  • Pepperstone - 8.4/10 Overall
  • Admiral Markets - 8.3/10 Overall
  • IC Markets - 8.2/10 Overall
  • Tickmill - 8.0/10 Overall
  • BlackBull Markets - 7.9/10 Overall
  • HFM - 7.8/10 Overall
  • HYCM (Henyep) - 7.7/10 Overall
  • Eightcap - 7.6/10 Overall
  • ThinkMarkets - 7.4/10 Overall
  • easyMarkets - 7.3/10 Overall

Overall Rating

9.9 / 10

Minimum Deposit

£250.00

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.86
All-in Cost EUR/USD - Active0.5957
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1974
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses7
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)19537
Forex Pairs (Total)100
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)33
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

9.3 / 10

Minimum Deposit

$100

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.0
All-in Cost EUR/USD - Active1.0
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1999
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses4
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)5500
Forex Pairs (Total)91
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)203
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

9 / 10

Minimum Deposit

$0

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.07
All-in Cost EUR/USD - Active1.04
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2002
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)12000
Forex Pairs (Total)57
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)39
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.6 / 10

Minimum Deposit

$100

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.92
All-in Cost EUR/USD - Active0.61
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses4
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)80
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.4 / 10

Minimum Deposit

$5

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.6
All-in Cost EUR/USD - Active0.8
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2009
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)1429
Forex Pairs (Total)55
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.4 / 10

Minimum Deposit

$200

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.77
All-in Cost EUR/USD - Active0.87
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2010
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)2342
Forex Pairs (Total)62
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)15
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.3 / 10

Minimum Deposit

$100

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.8
All-in Cost EUR/USD - Active0.7
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2001
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses3
Tier-2 Licenses2
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)6942
Forex Pairs (Total)80
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.2 / 10

Minimum Deposit

$200

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.62
All-in Cost EUR/USD - Active0.62
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2007
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)3583
Forex Pairs (Total)61
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Overall Rating

8.0 / 10

Minimum Deposit

$100

Trust Score Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust. close

Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.51
All-in Cost EUR/USD - Active0.31
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2014
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses1
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex Trading (Spot or CFDs)Yes
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)725
Forex Pairs (Total)63
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformNo
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)30
Apps & Toolsexpand_moreexpand_less
Android App
Apple iOS AppYes
Education (Forex or CFDs)Yes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes

Here are some additional brokers.

IG

IG offers traders over 40 years of experience in the industry, throughout which they have pioneered a range of developments, pushing the industry forward with their innovations. They started out as the first firm to offer spread betting services on gold in the UK, and have since grown their operation to include 15,000 markets which are offered to in excess of 180,000 clients around the world.

With a number of offices in Asia, a variety of different language websites, and round-the-clock customer service, IG is well suited to traders from the Philippines. Furthermore, to demonstrate their commitment to good practice in the industry, IG is accountable to a number of different regulatory regimes, including the EEA-wide MiFID (Marketing in Financial Instruments Directive), and the stringent rules of the UK's Financial Conduct Authority.

IG offers clients the opportunity to speculate on the direction that the underlying markets will move in through products such as contracts for difference (CFDs) and spread bets. These ensure that customers can take out short positions when markets are moving downwards, and are not restricted in their trading decisions.

Their platforms can be accessed in a variety of different languages, and allow clients to trade through their web browser, without having to download additional software onto their desktop computers. Alternatively, clients can download IG's mobile apps. Both of these facilities were developed by IG, putting them firmly at the forefront of the industry again.

Filipino traders can select the Philippines as their country of residence when opening an IG account, and can also benefit from a variety of different convenient deposit methods, including bank transfers and credit/debit card deposits.

AvaTrade

AvaTrade are one of the top online brokerage services providers for traders around the world. The company was established in 2006 and has since acquired over 200,000 customers who place in excess of 2 million trades per month. AvaTrade is suitable for customers from the Philippines, with customer services helplines available in the region in China, Hong Kong, Taiwan, Malaysia, Singapore, and Korea. AVA Trade Ltd. are the international entity and are authorised to provide trading services by the BVI Financial Services Commission. The company's website is offered in excess of 15 different languages, including English, which is widely spoken in the Philippines.

One of the most attractive features of AvaTrade is the access it provides to so many markets and financial instruments. These include cryptocurrencies such as Bitcoin and Ethereum, individual company stocks, corporate and government bonds, a wide range of commodities, and many popular indices. Forex pairs can also be traded through the MetaTrader 4 platform. Other platforms available include AvaTradeAct, which allows access to the full range of markets and has many additional advanced features to help traders. All of AVA Trade’s platforms are accessible through online browsers and can also be downloaded to mobile phones as apps.

Traders can benefit from free educational resources offered on the company’s website including eBooks, webinars, videos, articles, and market indicators. A dedicated learning platform, SharpTrader, has recently been launched by the company for its customers. AVA Trade globally accepts two primary deposit methods including wire transfers (minimum $500) and debit/credit card deposits (minimum $100). A base currency of EUR, USD, AUD or GBP can be selected when opening an account. Clients can open a free demo account without the need to deposit any funds and have access to $100,000 virtual currency to trial the platforms with.

XTB

XTB International Limited (XTB) are a subsidiary of XTB Group, operating in several jurisdictions around the world, including the Philippines. The international offering is regulated and authorised by the International Financial Services Commission (IFSC) based in Belize, which is a center for international financial services. XTB also has offices based in Belize, as well as Poland, Germany, Spain, France, the UK, and Chile.

The XTB website is available in a number of different languages, including English, French, Spanish, Italian, Chinese and Romanian. Clients from the Philippines can use the international version of the website, which is in English, or select their preferred language version of the website to access the information and learning materials provided.

Just some of the features that XTB offer clients include: total transparency, with access to market depth and liquidity information; a comprehensive charting package with the ability to place trades from within the charting tools; an easy to use trading platform which boasts extra fast execution speeds and many other powerful features; and access to over 1500 financial markets.

Clients from the Philippines are offered two different account types with XTB. The standard account offers floating spreads whereas the Pro account offers market spreads. There are other minor differences between the two accounts, including commission charges. Traders can open accounts by depositing funds from their bank account or through their e-wallet accounts. A base currency of USD is applied for international traders.

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Accepts PH Residents Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
IG logoIG check 9.9 £250.00 0.86 99 19537 IG Review Visit Site
Saxo Bank logoSaxo Bank check 9.7 €2,000 0.9 99 60000 Saxo Bank Review
Interactive Brokers logoInteractive Brokers check 9.7 $0 0.6 99 8500 Interactive Brokers Review
CMC Markets logoCMC Markets check 9.6 $0 0.51 99 12377 CMC Markets Review
TD Ameritrade logoTD Ameritrade check 9.5 $0 1.25 99 0 TD Ameritrade Review
FOREX.com logoFOREX.com check 9.3 $100 1.0 99 5500 FOREX.com Review Visit Site
City Index logoCity Index check 9.2 £100.00 1.0 99 13500 City Index Review
XTB logoXTB check 9 $0 1.07 95 12000 XTB Group Review
eToro logoeToro check 8.8 $10-$10,000 1 93 3458 eToro Review
Swissquote logoSwissquote check 8.7 $1000 N/A 99 466 Swissquote Review
AvaTrade logoAvaTrade check 8.6 $100 0.92 93 1260 AvaTrade Review
FXCM logoFXCM check 8.5 Starts from $50 1.38 96 440 FXCM Review Visit Site
Plus500 logoPlus500 check 8.5 €100 0.8 98 2800 Plus500 Review
Capital.com logoCapital.com check 8.4 $20 0.65 85 3152 Capital.com Review
XM Group logoXM Group check 8.4 $5 1.6 90 1429 XM Group Review
Pepperstone logoPepperstone check 8.4 $200 0.77 93 2342 Pepperstone Review
OANDA logoOANDA check 8.4 $0 1.26 92 124 OANDA Review
Admiral Markets logoAdmiral Markets check 8.3 $100 0.8 88 6942 Admiral Markets Review
FP Markets logoFP Markets check 8.3 $100 AUD 1.2 86 10000 FP Markets Review
IC Markets logoIC Markets check 8.2 $200 0.62 86 3583 IC Markets Review
Markets.com logoMarkets.com check 8.2 $100 1.9 98 2179 Markets.com Review
FxPro logoFxPro check 8.1 $100 1.51 90 2249 FxPro Review
Tickmill logoTickmill check 8.0 $100 0.51 82 725 Tickmill Review
Fineco Bank logoFineco Bank check 8.0 $0 N/A 92 126 Fineco Bank Review
BlackBull Markets logoBlackBull Markets check 7.9 $0 0.827 74 26000 BlackBull Markets Review
DooPrime logoDooPrime check 7.8 $100 N/A 84 10000 DooPrime Review
Vantage logoVantage check 7.8 $50 1.30 89 1000 Vantage Review
BDSwiss logoBDSwiss check 7.8 $100-$5000 1.6 83 1081 BDSwiss Review
TMGM logoTMGM check 7.8 $100 0.96 79 12000 TMGM Review
HFM logoHFM check 7.8 $0 1.2 85 3500 HFM Review
FlowBank logoFlowBank check 7.7 $0.00 N/A 77 408600 FlowBank Review
HYCM (Henyep) logoHYCM (Henyep) check 7.7 $100 0.6 86 362 HYCM Review
Trading 212 logoTrading 212 check 7.6 EUR 10 N/A 77 1785 Trading 212 Review
Eightcap logoEightcap check 7.6 $100 1.0 87 736 Eightcap Review
Trade Nation logoTrade Nation check 7.5 $0 0.6 83 601 Trade Nation Review
Moneta Markets logoMoneta Markets check 7.5 $50 1.27 71 965 Moneta Markets Review
ThinkMarkets logoThinkMarkets check 7.4 $250.00 N/A 86 1674 ThinkMarkets Review
VT Markets logoVT Markets check 7.4 $200 1.2 71 168 VT Markets Review
ACY Securities logoACY Securities check 7.4 $50 1.2 75 1600 ACY Securities Review
easyMarkets logoeasyMarkets check 7.3 $100 0.9 84 199 a href="/reviews/easymarkets">easyMarkets Review
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) check 7.3 $100 1.4 69 12000 Roboforex (RoboMarkets) Review
IronFX logoIronFX check 7.2 $50 1.2 84 340 IronFX Review
Exness logoExness check 7.2 $1 0.9 74 112 Exness Review
Spreadex logoSpreadex check 7.2 $0 N/A 70 2000 Spreadex Review
Trade360 logoTrade360 check 7.1 $250 N/A 75 1062 Trade360 Review
AxiTrader logoAxiTrader check 7.1 0 N/A 83 175 Axitrader Review
GKFX logoGKFX check 7.1 $0 N/A 66 354 GKFX Review
Vestle logoVestle check 7.1 -1 N/A 79 750 Vestle Review
OctaFX logoOctaFX check 7 $25 0.9 69 229 OctaFX Review
FXOpen logoFXOpen check 7 $100 N/A 80 87 FXOpen Review
TeleTrade logoTeleTrade check 7 $100 N/A 67 500 Teletrade Review
FXPrimus logoFXPrimus check 6.9 $100 N/A 69 140 FXPrimus Review
Forex4you logoForex4you check 6.9 $0 N/A 62 150 Forex4you Review
LegacyFX logoLegacyFX check 6.9 $500 N/A 66 425 LegacyFX Review
GBE brokers logoGBE brokers check 6.8 $500 N/A 69 500 GBE Brokers Review
Alpari logoAlpari check 6.8 $20 N/A 67 105 Alpari Review
TopFX logoTopFX check 6.7 Depends on payment method N/A 67 655 TopFX Review
Libertex (Forex Club) logoLibertex (Forex Club) check 6.7 $10 N/A 72 300 Libertex Review
ATFX logoATFX check 6.6 $500 N/A 70 150 ATFX Review
UFX logoUFX check 6.6 $100 3 67 619 UFX Review
Xtrade logoXtrade check 6.5 $250 N/A 80 142 Xtrade Review
Tradeo logoTradeo check 6.4 $200 N/A 67 256 Tradeo Review

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There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

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