Best Forex Brokers Philippines 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.
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IG
- 9.9/10 Overall
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FOREX.com
- 9.3/10 Overall
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XTB
- 9/10 Overall
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AvaTrade
- 8.6/10 Overall
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XM Group
- 8.4/10 Overall
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Pepperstone
- 8.4/10 Overall
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Admiral Markets
- 8.3/10 Overall
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IC Markets
- 8.2/10 Overall
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Tickmill
- 8.0/10 Overall
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BlackBull Markets
- 7.9/10 Overall
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HFM
- 7.8/10 Overall
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HYCM (Henyep)
- 7.7/10 Overall
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Eightcap
- 7.6/10 Overall
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ThinkMarkets
- 7.4/10 Overall
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easyMarkets
- 7.3/10 Overall
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 - Standard | 0.86 |
All-in Cost EUR/USD - Active | 0.5957 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 1.0 |
All-in Cost EUR/USD - Active | 1.0 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | No |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 1.07 |
All-in Cost EUR/USD - Active | 1.04 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 0.92 |
All-in Cost EUR/USD - Active | 0.61 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 1.6 |
All-in Cost EUR/USD - Active | 0.8 |
PayPal (Deposit/Withdraw) | No |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 0.77 |
All-in Cost EUR/USD - Active | 0.87 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 0.8 |
All-in Cost EUR/USD - Active | 0.7 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 0.62 |
All-in Cost EUR/USD - Active | 0.62 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
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 - Standard | 0.51 |
All-in Cost EUR/USD - Active | 0.31 |
PayPal (Deposit/Withdraw) | Yes |
Skrill (Deposit/Withdraw) | Yes |
Visa/Mastercard (Credit/Debit) | Yes |
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.
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Forex Risk Disclaimer
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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