Our comprehensive guide aims to help you choose the best forex brokers in the Philippines, leaving you to focus on what matters, which is profitability in the forex markets.
Ranking Methodology: While assessing and ranking the best forex brokers in the Philippines, some of the important factors we considered include; regulatory compliance and safety, trading fees (spreads, commissions, and overnight fees), non-trading fees, base currencies offered, payment methods, product offering, execution model, execution speed, assets, trading platforms, research, education, and customer support service.
Table of Contents
5 Best Forex Brokers in the Philippines
Following our in-depth review and ranking methodology, here are our top picks for the best forex brokers in the Philippines;
- IC Markets
- FBS
- Forex.com
- CMC Markets
- Capital.com
1. IC Markets
IC Markets is a leading global online broker and one of the world’s largest forex providers by trade volume, with over 29 Billion USD in FX trades processed daily. It offers CFDs on various global markets, including forex, stocks, commodities, indices, cryptocurrencies, bonds, and futures, with over 2250+ instruments to trade.
With IC Markets, you can enjoy a plethora of top-notch trading services, including transparent pricing, low trading & non-trading fees, consistent ultra-low spreads from 0.0 pips, fast trade executions, low slippage, deep liquidity, advanced trading platforms & tools, and 24/7 customer support service.
IC Market’s ease of use, and excellent trading conditions, make it a suitable broker for traders of all experience levels. IC Markets also provides adequate support for various trading strategies, such as hedging, scalping, and algorithmic trading. Likewise, Its unique trading conditions, such as ultra-low trading fees, fast execution, and deep liquidity, make it an excellent choice for active and high-volume traders.
IC Markets Overview
| Broker | IC Markets |
|---|---|
| Regulation | ASIC, FSA, and CySEC. |
| Forex Pairs | 61 Currency Pairs |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| Minimum Deposit | $200 or currency equivalent. |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF. |
| Payment Methods | Credit and debit cards, Paypal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Rapidpay, Thai internet banking, Vietnamese internet banking |
| Trading Tools | Virtual Private Server (VPS), Trading Servers, MT4 Advanced Trading Tools |
Pros
- Quick account setup.
- Strong regulatory framework.
- Over 180,000+ clients across 190 countries worldwide.
- Multiple industry standard trading platforms in web, mobile and desktop versions.
- Deep liquidity.
- Over 61 currency pairs to trade, including major, minor and exotic currency pairs.
- Flexible leverage (up to 1:500).
- Fast trade execution.
- Supports all trading styles and strategies.
- Offers swap-free account.
- Low trading fees across all account types.
- Ultra-low spreads from 0.0 pips on IC Markets’ Raw Spread accounts.
- Multiple fast and secure payment methods.
- The demo account has an unlimited usage duration.
- No inactivity fee is charged.
- Excellent customer support service.
Cons
- Its product offering is limited to forex and CFDs.
- No proprietary trading platform is offered.
2. FBS
FBS is a global award-winning online broker established in 2009. It has maintained a tremendous reputation amongst traders over the years and has amassed a huge client base of over 23 million active traders in 190+ countries worldwide.
FBS offers CFDs across various global markets, including forex, stocks, indices, metals, energies, and cryptocurrencies, with over 150 instruments available to trade.
Some of the outstanding benefits you can enjoy with this broker include fast order execution, deep liquidity, industry-standard trading platforms, low trading fees, low minimum deposit from $1, multiple tailored account types, multiple fast & secure payment methods, high Leverage (up to 1:3000) and an excellent 24/7 customer support service.
FBS offers an all-around trading solution that accommodates traders of all experience levels and traders with different capital sizes. Traders with low capital are welcomed with low minimum deposits and trading fees, while high-volume traders, on the other hand, can save a lot of money with their low trading fees.
FBS Overview
| Broker | FBS |
|---|---|
| Regulation | IFSC (Belize), CySEC (Cyprus), ASIC (Australia), FSCA (South Africa) |
| Forex Pairs | |
| Trading Platforms | FBS Trader, MetaTrader 4, MetaTrader 5 |
| Minimum Deposit | Cent Account – $1 Micro Account – $5 Standard Account – $100 Zero Spread Account – $500 ECN Account – $1000 Crypto Account – $1 |
| Demo Account | Yes |
| Maximum Leverage | Cent Account – 1:1000 Micro Account – 1:3000 Standard Account – 1:3000 Zero Spread Account – 1:3000 ECN Account – 1:500 Crypto Account – 1:5 |
| Account Currencies | USD, EUR |
| Payment Methods | Bank Wire Transfer, Credit Card, Debit Card, Perfect Money, WebMoney, cashU, Neteller, UnionPay, Skrill, OkPay, FasaPay, Local Deposits, SticPay |
| Trading Tools | Economic Calendar, Forex Calculators, Currency Convertors |
Pros
- Strong regulatory framework.
- Over 23 million active traders in 190+ countries worldwide.
- Low minimum deposit (from $1).
- Fast order execution.
- High Leverage (up to 1:3000).
- Low forex-trading fees.
- Multiple account types.
- Fast and secure payment methods.
- Industry-standard trading platforms.
- Great bonuses and contests for traders.
- Excellent customer support service.
Cons
- Its product offering is limited to CFDs.
3. Forex.com
Forex.com is a global FX and CFD provider founded in 2001. It is owned and operated by its parent company StoneX Group Inc, a publicly-traded company listed on the NASDAQ Stock Exchange (NASDAQ: SNEX).
Forex.com offers CFDs, spreads betting, and futures across over 9,500+ global markets, including forex, commodities, indices, stocks, metals, and cryptocurrencies, through institutional-grade platforms, excellent execution, and high-touch expertise.
Other outstanding brokerage solutions you can enjoy with Forex.com includes deep liquidity, competitive pricing, transparent fee structure, superior trade executions, low slippage, multiple account types, an Active Trade Program (which can reduce trading costs by up to 15%), multiple industry-standard trading platforms, education & research tools, VPS hosting and an excellent customer support service.
The brokerage solutions offered by Forex.com makes it an ideal broker for traders of all experience levels, although high-volume traders would benefit more from its services.
Forex.com Overview
| Broker | Forex.com |
|---|---|
| Regulation | NFA (US), CFTC(US), FCA (United Kingdom), ASIC (Australia), FSA (Japan), IIROC (Canada) |
| Forex Pairs | 80+ |
| Trading Platforms | MT4, MT5, NinjaTrader, Web |
| Minimum Deposit | $100 |
| Demo Account | Yes (90 Days) |
| Maximum Leverage | 1:50 EU/UK Clients – 1:30 |
| Account Currencies | USD, EUR, CAD, JPY, CHF, AUD, GBP |
| Payment Methods | Wire Transfer, Card Payment, Paypal. |
| Trading Tools | VPS Hosting, Autochartist, Recognia, Smart Signals, Performance Analytics |
Pros
- Strong regulatory framework.
- 20+ years of industry experience.
- Parent company StoneX is a publicly-traded company listed on the NASDAQ Stock Exchange (NASDAQ: SNEX).
- Over 500,000+ clients worldwide.
- Multiple industry standard trading in mobile, web, and desktop versions.
- Fast order execution.
- Wide range of asset classes.
- Low minimum deposit.
- Fast and secure payment methods.
- Competitive pricing.
- Offers Active Trader Program, which helps reduce trading costs by up to 15%.
- Great customer support service.
Cons
- Limited payment methods
- Slow account verification process.
- The demo account is only available for 90 days.
4. CMC Markets
CMC Markets is a global Forex and CFD provider established in 1989 by CMC Group, a publicly-traded company listed on the London Stock Exchange and a constituent of the FTSE 250 Index.
CMC Markets offers forex, CFDs, and spread betting across a wide variety of global markets, including forex, indices, commodities, shares, ETFs, cryptocurrencies, and treasuries, with access to over 11,000+ instruments.
With more than 30 years of industry experience, CMC continues to offer its rapidly growing client base various unique trading solutions, such as advanced trading platforms, competitive pricing, superior order execution, and excellent customer support service.
CMC Markets offers a unique brokerage solution for beginner and professional traders. You would benefit from CMCs’ emphasis on ease of use, education, and excellent customer support service as a beginner. Experienced traders can also take advantage of its competitive pricing, higher leverage option, advanced trading platforms, and cash rebates.
CMC Markets Overview
| Broker | CMC Markets |
|---|---|
| Regulation | ASIC, IIROC, BaFin, MAS, FCA, FMA, DFSA |
| Forex Pairs | 300+ |
| Trading Platforms | Next Generation platform, MetaTrader 4 |
| Minimum Deposit | $0 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD |
| Payment Methods | Wire Transfer, Credit / Debit Cards, Electronic Payments. |
| Trading Tools | FIX API, Virtual Private Server (VPS) |
Pros
- Strong regulatory framework.
- Over 30+ years of industry experience
- Great for beginners.
- Trusted by over 300,000+ global clients.
- Deep liquidity.
- Over 330+ currency pairs, including major, minor and exotic pairs.
- No minimum deposit.
- Industry-standard trading platforms in web, mobile and desktop versions.
- Fast order execution.
- Fast and secure payment methods.
- Excellent customer support service.
Cons
- Its product offering is limited to only CFDs.
- Withdrawal fee charged for international bank transfer.
5. Capital.com
Capital.com is a cutting-edge global online broker which offers CFDs across various asset classes, including indices, commodities, shares, ETFs, and cryptocurrencies, with over 6000+ instruments to trade.
Some outstanding benefits traders can enjoy with Capital.com include deep liquidity, low trading fee, tight spreads with zero commissions, fast order execution, industry-standard trading platforms, and great customer support service.
Capital.com suits traders of all experience levels, including beginners and professionals. Also its low minimum deposit and low trading fee also make it a great choice for traders with low capital and those looking for low trading costs.
Capital.com Overview
| Broker | Capital.com |
|---|---|
| Regulation | ASIC (Australia), FCA (United Kingdom), CySEC (Europe), NBRB (Belarus) |
| Forex Pairs | 138 |
| Trading Platforms | Capital.com Web Platform, MetaTrader 4, TradingView |
| Minimum Deposit | $20 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | GBP, USD, EUR, PLN, AUD |
| Payment Methods | Bank Wire Transfer, Visa, MasterCard, Skrill, Neteller, iDeal, Giropay, Przelewy24, QIWI, WebMoney, Trustly, Worldpay, and AstroPay |
Pros
- Strong regulatory framework.
- Easy account registration process.
- Low minimum deposit (from $20).
- Deep liquidity.
- Fast order execution.
- Industry-standard trading platforms in mobile, web, and desktop versions.
- Zero commissions.
- Free quality trading education, including online courses, guides, and webinars.
- Unlimited demo account duration.
- Great customer support service.
Cons
- MetaTrader 5 is not available.