Cons MetaTrader Or CTrader Platforms Not Offered Not The Highest Leverage On The Market Limited To Certain Jurisdictions. DOWNLOAD IQ OPTION. Olymp Trade App. Customer Support 7. Mobile Trading 8. Cons Limited To Certain Jurisdictions. DOWNLOAD OLYMP TRADE. IC Markets App. Pros Regulated By ASIC, CySEC and FSA-SC Foundation Year: Min. Cons Beginner Traders May Be Overwhelmed By the Choice Of Markets and Platforms. DOWNLOAD IC MARKETS. OctaFX App. Trading Experience 8. Mobile Trading 7. Cons Limited Commodity Markets, No Individual Stock CFDs.

DOWNLOAD OCTAFX. ExpertOption App. Asset Coverage 7. Pros Regulated By FMRRC, VFSC, MiFID and CySEC Foundation Year: Min. Alpari App. Pros Regulated By FSC Foundation Year: Min. Cons Non-Existent Research Tools Traders From USA, Canada and Iran Not Welcomed. DOWNLOAD ALPARI. FXTM App. Pros Regulated By CySEC, FCA and FSC Foundation Year: Min. Cons Traders From USA, Canada and Iran Not Welcomed. First, there is a conversion fee starting from 50 pips for every deposit or withdrawal made in a currency other than USD.

The broker offers an array of payment options, ranging from all the popular credit and debit cards to digital wallets like Neteller, PayPal, Skrill, and iDeal. Mostly known for its deep focus on copy trading, eToro runs on its own custom software available in both mobile and desktop formats. It also runs a parallel mobile app known as eToroX that acts as a coin wallet for cryptocurrency traders. There are little to no restrictions on opening an eToro account.

Avatrade — Popular forex trading platform. It may not have millions of users like the other brokers on the list, but Avatrade is a formidable name in the Philippines forex exchange field. Apart from its large number of CFD assets, Avatrade offers a decent selection of trading platforms and cryptocurrencies.

Best for:. Diversity in trading platforms. Traders who prefer using the MetaTrader platform. The minimum spread is 0. Financial transactions on the Avatrade platform may be channeled through credit cards Visa, MasterCard , PayPal, Skrill, Neteller, and bank wire transfers. Deposits are processed immediately, while withdrawals can take up to 5 days to complete.

Both are, however, free of charge. Apart from the usual Metatrader 4, the broker supports the more modern Metatrader 5 and has a proprietary platform called AvaTradeAct. Additionally, the broker allows traders to use automated trading software like RoboX, Duplitrade, and Mirror Trader to make fast trades.

Verification takes less than 48 hours. Oanda — Global Forex Broker. Founded in , Oanda is a global brokerage juggernaut with a reach in over countries. Best for: Comprehensive features and research tools. The Oanda forex spreads start from 0. It also charges overnight fees on positions held beyond 10 pm every night. These, however, vary from time to time. You can also trade crypto Bitcoin in particular , albeit on a CFD basis. On the upside, Oanda does not charge commissions or fees on withdrawals and deposits.

A major drawback is few payment options for a broker with a global eye. As an fx-focused broker, Oanda's trading platform of choice is the Metatrader 4. The system, which has mobile and desktop versions, is very popular among forex traders due to its customizable layouts, a wide range of helpful tools, automated scaling, and sophisticated stop-loss functions. As one of the very few forex brokers allowed to operate in the US, Oanda is available in nearly every country.

The fast verification process further consolidates this point. Pepperstone - Best Forex Broker Overall. Pepperstone Group is a British company founded in which offers general brokerage services to online traders. With licenses from top-tier regulators like FCA and ASIC, Pepperstone is certified, legit, and boasts of over 2 million active traders.

Overall forex trading experience. Traders who already use the MetaTrader or cTrader. Trading currencies on Pepperstone attracts very low fees, with Standard account holders paying spreads as low as one pip with no commission. On the other hand, Razor accounts incur zero spreads but pay minimal commissions for every trade.

The minimum deposit amount is AUD or equivalent the broker accepts 20 base currencies. You can fund and withdraw from your account via Visa, MasterCard, Bank Transfer, POLi, PayPal, Skrill, and Neteller.

Pepperstone broker doesn't charge any fees for transactions. Pepperstone offers traders three options: Metatrader 4, Metatrader 5, or cTrader. These are third-party software that can be downloaded from their respective developers' websites or mobile app stores. Pepperstone makes it exceedingly easy to open an account, with user verification taking a few hours.

While signing up, one has to choose between a Standard account no commissions and low spreads or a Razor account zero spreads and low commissions. Forex brokers in the Philippines are regulated by the Securities and Exchange Commission SEC , and brokers are required to follow the instructions and guidelines prescribed by the SEC. The Securities and Exchange Commission Philippines SEC , formed in , regulates the stock market.

The commission also licenses forex brokers operating in the country. In , the Security and Exchange Commission made forex trading illegal, but what they really mean is that you trade at your own risk. Therefore, to trade forex you have to look for a foreign broker that supports traders from the Philippines. Now, here is a problem. Platforms that accept Philippine traders are not controlled by local regulations putting you at risk of losing money to fraudsters.

Mitrade is one of the forex brokerage firms that accept Philippine traders. You can therefore trade your favorite currency pairs from your office in Manila or buy gold from your home in Quezon. The best part is that it is authorized and regulated by the Cayman Islands Monetary Authority CIMA , Mauritius Financial Services Commission FSC , and the Australian Securities and Investments Commission ASIC.

It also has a trading license from Australian Financial Services AFS. You can therefore rest assured your capital is safe and secure. With so many good choices available, choosing a forex broker to trade with can be quite a challenge. To help you pick the right choice, here are our top 3 things to consider when choosing a broker:. Low Fees. Naturally, you want a broker who offers very low commissions and spreads to maximize your returns.

The bid and ask spread. Overnight fees. Some brokers are also known to hide certain charges from their websites. It's always a good idea to go through the legal information of any broker you like to get a complete breakdown of all the costs. Credible Licenses. As mentioned earlier, the Philippines have its own financial regulatory authority the SEC Philippines.

Nonetheless, there are certainly top-tier regulators whose licenses give recipient brokers unparalleled credibility. These include the Commodities and Futures Trading Commissions CFTC in the USA, the FCA Financial Conduct Authority in the UK, Australian Securities and Investment Commission ASIC in Australia, and the Cyprus Securities and Exchange Commission CySEC.

Strong Regulation:. These types of charts are bar, Japanese candlesticks and broken lines. Charts are supplemented with 30 of the most critical technical indicators, 24 analytic objects and 9 timeframes. Like with the desktop version, 4 types of pending orders are available — buy stop, sell stop, sell limit and buy limit along with 2 market execution orders — buy by market, sell by market.

TMGM has servers in two data centres, NY4 in New York and TY3 in Tokyo, a unique benefit that enables even better connectivity, deeper liquidity and less chance of slippage adding up to superior trading conditions.

This further gives TMGM an edge as the best MT4 broker on this list. Note there is an inactivity fee for IRESS premium and gold. A swap-free interest-free account is also available for Islamic finance customers seeking Sharia-compliant accounts, only available through the Edge account. TMGM provides 3 useful apps that can integrate with MetaTrader 4 desktop, but if you are using mobile and desktop, switching between the two is fast and seamless. TradeView X offers cutting-edge technology to build and fine-tune your trading strategies in a simulated market environment.

This platform comes with unlimited indicators per chart, unlimited charts per window and even unlimited automated alerts. It also allows you to automate your trading and includes extensive backtesting tools to stimulate your trading environment. HUBX is an intuitive app for fund managers to manage their clients with advanced portfolio adjustment tools while Trading Central offers additional market analysis tools, such as Market Buzz, for deeper sentimental, fundamental and technical analysis.

Another platform TMGM offer is IRESS. IRESS is best for trading shares, thanks to Direct Market Access DMA trading this platform allows you to view the order books in the exchange allowing for more control of your trading. The TMGM Academy is an impressive educational course complete with comprehensive quizzes to test your knowledge. There are 3 modules grouped by experience level beginner, intermediate, advanced for any level of trader.

This is an excellent resource to gain an understanding of the theoretical side of foreign exchange and CFD trading. As well as both popular MetaTrader platforms, Pepperstone also offer cTrader as an additional platform with cTrader Automate for algorithmic trading. These apps provide a reliable trading experience in addition to only needing one account to trade on multiple trading platforms.

If you are using the MetaTrader 4 or 5 mobile app you will have access to 3 types of charts, 9 timeframes, 30 technical indicators and 24 analytical objects. The main difference is that MT5 has depth of market trading which allows you to see the order books at the exchange and is also suitable for CFD crypto and CFD stock trading for which MT4 is not. cTrader is a competitor of MetaTrader and has its own fans. Traders like cTrader because it has charting features not available with MetaTrader.

Choosing cTrader means access to 26 timeframes superior to the 9 on offer with MetaTrader and over 50 indicators. Viewing of charting is super easy thanks to pinch to zoom features and backward and forward swipe scrolling. The platform also comes with QuickTrade button to preset frequently used trading orders.

Using the mobile version of cTrader also mean you get market sentiment tools so you can see a ratio of traders who go long or short A useful feature to help with your decision making. Pepperstone offers excellent pricing on its Razor account, particularly when combined with its Active Trader program for high-volume traders. MetaTrader is suited for scalpers and algorithmic traders whilst cTrader has extra analytical tools and a lower commission of 6 USD be mindful of conversion fees.

Meanwhile, its Standard account is the commission-free account with average spreads as low as 0. To use the standard account you must use MetaTrader 4 or MetaTrader 5.

Pepperstone offers a wide range of available third-party tools and plugins that enhances its already-impressive suite of available platforms. IG Markets offers a comprehensive trading package, with several features that will suit beginners, including an intuitive in-house app, guaranteed stop loss functionality and great educational resources.

To protect you against potentially uncontrollable financial losses caused by slippage and market volatility, IG provides free guaranteed stop losses ensuring your position is closed at a pre-selected price. IG offers its own flagship mobile app, IG Trading also known as IG Forex which has a well-designed layout packed with features such as alerts, sentiment readings, and highly advanced charts which you can trade directly through.

One interesting feature of the mobile app is the availability of Direct Market Access DMA trading execution with a Forex Direct account. Available on iOS but not Android, DMA trading is best for experienced traders as it gives you greater control of pricing as you can view the order books in the exchange. It is one of few brokers to offer its own, in-house platform, in addition to third-party platforms like MetaTrader 4 and 5. The main trading account you can open is a CFD account, with a minimum average spread of 0.

Please note a 0. The Forex market has no commissions. For high-volume traders, it is also possible to access DMA Direct Market Access pricing through Forex Direct, with lower average minimum spreads.

L2 Dealer is suited for advanced shares trading with DMA direct market access while ProRealTime has a leading charting package with great technical chart features. Lastly, IG gives you access to a huge range of financial instruments with 17, markets to choose from including forex, indices, shares, futures, options, spot trading, bonds and even interest rates.

ZuluTrade is the platform that stands out, boasting one of the largest networks of copy traders globally. The platform is suitable for both manual and social trading but lacks when it comes to charts, thankfully ZuluTrade can integrate with MT4 or MT5 albeit with the desktop version to take advantage of the charts in these platforms.

IC Markets rival other low-cost forex brokers, such as IG, with the small effective spreads and the low deposit requirement for its commission-based accounts.

The two account options you have are Standard no commission and Raw Spread spread-based. Like Pepperstone, IG gives you the option of MetaTrader or cTrader platforms with their Raw Spread account. MT4, MT5 and cTrader are all available on iOS or Android devices, as well as webtrader, giving your flexibility where and how you prefer to trade. The social trading platforms, Myfxbook AutoTrade and ZuluTrade provide two great options for algorithmic trading and copy trading, perfect for discretionary traders.

MetaTrader Trading Signals is an additional copy trading platform which can be integrated with the MetaTrader platforms. Additional tools include Autochartist, a market scanning tool to help identify key market trends to capitalize on and profit from. With CopyTrader you can copy the trades of experienced investors which will suit retail investors particularly. For professional traders, you can also share your own trading strategies and receive exclusive perks.

Smart Portfolios is like CopyTrader but for portfolio management. The platform operates like a group of traders, all with their own underlying positions, working for a client. This is suited for fund managers or those who enjoy juggling multiple bundles of investments, rather than individual instruments.

With almost all the same features across both its web platform and its mobile app, it will suit multi-device clients. Over the last few years, eToro has continued to expand its available range of markets as a multi-asset broker, with over 3, trading symbols available. Used by more than , users, ThinkTrader is ThinkMarkets next-gen mobile-first, multi-asset trading platform. ThinkTrader has a powerful set of research tools with 80 in-depth chart indicators, 50 drawing tools, built-in real-time market news by FX Wire Pro and an intuitive interface, allowing traders to analyse market trends from anywhere at any time.

All these features make ThinkTrader one of the more impressive arrays of options of all trading apps.

Pepperstone is one of the most reputable fx brokers in the world trusted by thousands of satisfied traders. Visit Pepperstone. If you are a newbie in forex trading , then you should definitely choose a broker which meets certain requirements:. The major financial market agency is the government owned BSP Banco Sentral ng Pilipinas in english it means the Central bank of Philippines.

As the central bank it is in charge of maintaining the inflation rate in acceptable levels, monitoring the growth of the GDP and unemployment rate and last but no the least protecting local Philippine peso PHP currency stability. Established by the government in the main financial markets regulatory body is SEC — Securities and Exchange Commision of Philippines which overlooks the local financial market and its main role is to protect investors from fraud and ensure the stability of the capital market.

They also issue the licenses to financial companies operating locally on the Philippines territory. They have been working in the recent years to achieve the higher transparency of the capital market and also aim to educate small investors in order to protect them from scam. If you ever face any issue with a particular forex brokerage, you can submit a complaint through the online form on the website www.

There are some local forex brokerages who are listed by Sec. This is due to a fact there are not yet many top firms physically located in the Philippines, since the currency trading market is still pretty small here and just slowly developing to a more mature stage.

However with hundreds of brokers on the market, it is not easy to figure out which company is serious to deal with! We want to help you to start with forex trading and become profitable as fast as possible,therefore we prepared and regularly update the above table with comparison of the best forex companies! If you are just starting out, we recommend to try Webtrader first before moving to Metatrader 4 as it requires a steep learning curve.

Watch out for fees level as they are pretty important. Avoid those who charge inactivity fees and compare the spread with competition if you are in doubt. Yes it is legal as long as you choose a regulated forex trading company. As the economy of Philippines continues to grow, there are more and more locals open forex accounts with foreign forex companies who offer them the best trading services.

Edward Kendy MBA is a CEO and the head of forex brokers research at BestOnlineForexBroker. com with 17 years of experience in personal finance and veteran forex trader. See author's posts. Home Brokers Best Forex Brokers Philippines — TOP 10 List — October In this article you can find the comparison of best forex brokers in Philippines.

COM — Trusted FX Brand Across the World IQ Broker — Great for all Trading Activities IC Markets — Best Free FX Demo Account. Edward Kendy Edward Kendy MBA is a CEO and the head of forex brokers research at BestOnlineForexBroker.

Table of Contents.

Trading Accounts TMGM gives you three account options: Classic, Edge and IRESS. Eightcap review. Traders in The Philippines make a bet on how the value of one currency will change relative to another. Hot Articles Most Read. HF APP FEATURES Micro Account: with a 5 USD minimum deposit, fast market execution and spreads starting at 1 pip. With the MetaTrader 4 app, you can also keep an eye on the market from any location in The Philippines. You can even trade these currencies against Bitcoin.

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