10 Best Forex Brokers in the Philippines | Comparison

With a daily trading volume exceeding $6.6 trillion, the Forex market offers unprecedented opportunities for profit that have caught the interest of several traders in the Philippines. In response to this demand, several international and local brokers have emerged as leading options for those looking to participate in Forex trading. 

At WR Trading, we’ve created this guide to simplify the selection process by ranking the 10 best Forex brokers in the Philippines based on key indicators we have identified. After our careful analysis at WR Trading, here are our 10 best forex brokers in the Philippines:

#1 BlackBull Markets

BlackBull Markets is recognized as the best Forex broker on our list for traders in the Philippines. Our review reveals that BlackBull Markets provides access to the MetaTrader 4 and MetaTrader 5. At WR Trading, we found that BlackBull Markets excels in offering tight spreads, with some accounts featuring spreads starting as low as 0.0 pips, particularly for the EUR/USD pair.

Key Facts About BlackBull Markets:

Feature	BlackBull Markets
Available in the Philippines	Yes
Account Types	Standard, Prime, Institutional, Swap-Free
Tradable Instruments	Forex, Indices, Commodities, Shares, ETFs, Cryptocurrencies, Metals, Equity Indices, Futures
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blackbull Invest, Blackbull CopyTrader
Regulation	Seychelles Financial Services Authority (FSA)
Minimum Deposit	$0 (Standard), $2,000 (Prime), $20,000 (ECN Institutional)
Minimum Order	0.1 lot
Leverage	Up to 1:500
Spreads	Standard: from 0.8 pips, Prime: from 0.1 pips, Institutional: from 0.0 pips
Commissions	$0 (Standard), $4 (ECN Institutional), $6 (ECN Prime) per round lot
Accepted Currency	USD, EUR, GBP, AUD, NZD, CAD, CHF, JPY, HKD, XAU, BTC, ETH
Transactions Options	Airtm, AMEX, Skrill, SEPA, Poli, PaymentAsia, Neteller, Local Bank Transfer, Bank wires, credit/debit cards, Neteller, China Union Pay, AstroPay, crypto, Beeteller, Boleto, Fasapay, FxPay, Help2Pay, HexoPay

#2 FP Markets

FP Markets has solidified its position as a preferred choice for Filipino traders seeking a robust and transparent trading environment. This Australian-based broker welcomes clients from the Philippines and offers a compelling blend of raw, competitive spreads, lightning-fast execution, and over 1000 trading instruments. Their dedication to providing a superior trading experience is evident in their ECN model, which ensures minimal price slippage and exceptional order fills.

Our comparison ranks FP Markets in 2nd place, thanks to its highly competitive spreads from 0.0 pips and licensing from more than five credible regulators. Traders can also take advantage of multiple top platforms such as MT4, MT5, cTrader, IRess, TradingView, and WebTrader.

Key Facts About FP Markets:

Feature	FP Markets
Available in the Philippines	Yes
Account Types	Standard, Raw, Islamic
Tradable Instruments	Forex, Indices, Commodities, Shares, Cryptocurrencies, Bonds, Metals and ETFs
Trading Platforms	MetaTrader 4, MetaTrader 5, WebTrader, cTrader, Tradingview, MT5 Mobile Trader, FP Mobile App, IRESS
Regulation	ASIC, CySEC, FSCA, ESMA, FSA, FSC
Minimum Deposit	$100
Minimum Order	0.01 lot
Leverage	Up to 1:500
Spreads	From 0.0 pips (Raw account), from 1.0 pips (Standard Account)
Commissions	$0 (Standard), $3 (Raw Account) per Round Lot
Accepted Currency	AUD, USD, EUR, GBP, NZD, JPY, SGD, CAD, CHF, PLN, HKD, ZAR, INR, PLN, BRL, NGN, MXN
Transactions Options	Visa, Mastercard, POLi, PayPal, Skrill, Neteller, Fasapay, Bank transfer, Unionpay, Sticpay, ePay, Google Pay, Crypto, Apple Pay, Astro pay, Perfect Money, Online Banking and BPay

#3 Vantage Markets

Vantage Markets makes it to our list as the third-best broker available to traders from the Philippines. This broker strikes a commendable balance between competitive pricing, robust trading platforms, and exceptional customer service. While not boasting the absolute tightest spreads, Vantage Markets compensates with swift execution speeds and a generous suite of trading tools.

Key Facts About Vantage Markets:

Feature	Vantage Markets
Available in the Philippines	Yes
Account Types	Raw ECN, Standard STP, Pro ECN, Islamic, Cent, Premium
Tradable Instruments	Forex, Indices, Energy, Gold/Silver, Commodities, Shares, ETFs, Stocks, Oil, Bonds, Energies
Trading Platforms	MetaTrader 4, MetaTrader 5, Vantage FX App, TradingView, ProTrader
Regulation	ASIC, CIMA, VFSC, SIBL
Minimum Deposit	$50 (Standard and RAW), $10,000 (Pro ECN)
Minimum Order	0.01 lot
Leverage	Up to 1:500 (varies by account type and instrument)
Spreads	From 0.0 pips (Raw ECN and Pro ECN accounts), From 1.0 pips (Standard STP and CENT accounts)
Commissions	$3 (Raw), $0 (Standard), $1.50 (Pro ECN) per round lot
Accepted Currency	AUD, USD, EUR, GBP, NZD, CAD, SGD, JPY, CHF, ZAR
Transactions Options	Bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller, PayPal), UnionPay, Boleto, BPAY, Astropay, Fasapay, Domestic Fast Transfer, International EFT, China Union Pay, JCB, Broker-to-Broker Transfer, Pagsmile, Perfect Money, Thailand Instant Bank Transfer

#4 RoboForex 

RoboForex presents itself as a multifaceted broker suitable to a wide range of trader profiles. A major upside is the platform accepts clients from the Philippines and gives traders access to various instruments, from forex and CFDs to cryptocurrencies. RoboForex’s standout feature is its copy trading platform, R Trader, which allows traders to follow successful strategies. This can be particularly beneficial for those new to forex trading.

Key Facts About RoboForex:

Feature	RoboForex
Available in the Philippines	Yes
Account Types	Pro, ECN, Prime, R Stocks Trader, ProCent
Tradable Instruments	Forex, Stocks, Indices, Commodities, Cryptocurrencies, ETFs, Metals, Futures, Energies
Trading Platforms	MetaTrader 4, MetaTrader 5, R StocksTrader, R Mobile Trader, R WebTrader, MT 4 MultiTerminal
Regulation	FSC Belize
Minimum Deposit	$10 (Prime, ECN, Pro, ProCent), $100 (RStocksTrader)
Minimum Order	0.01 lot
Leverage	1:300 (Prime), 1:500 (ECN and R StocksTrader), 1:2000 (ProCent and Pro)
Spreads	0.0 pips (Prime, ECN), 0.01 pips (R Stocks Trader), 1.3 pips (Pro, ProCent)
Commissions	$0 (Pro and ProCent)Available (Prime, ECN, and R StocksTrader)
Accepted Currency	USD, EUR, GOLD
Transactions Options	Bank wire transfer, credit/debit cards, electronic payment systems (Skrill, Neteller, etc.), QR and Vouchers

#5 Moneta Markets 

Moneta Markets has rapidly gained traction among Philippine traders due to its competitive offerings. The broker is licensed by the Financial Sector Conduct Authority (FSCA) which makes it a regulated trading environment for Filipino clients. Offering over 1000 tradable instruments across forex, commodities, indices, shares, ETFs, and bonds, Moneta Markets provides a diverse clientele.

Key Facts About Moneta Markets:

Feature	Moneta Markets
Available in the Philippines	Yes
Account Types	Direct STP, Prime ECN, Ultra ECN
Tradable Instruments	Forex, Indices, Commodities, Shares, ETFs, Bonds, Share CFDs, Bonds, Metals, Energy, Crypto CFDs, and Index CFDs
Trading Platforms	MetaTrader 4, MetaTrader 5, PRO Trader (powered by TradingView), AppTrader (powered by TradingView), CopyTrader App, MetaTrader App, MT4 WebTrader
Regulation	SLIBC, FSCA
Minimum Deposit	$50 (Prime and Direct), $20,000 (Ultra)
Minimum Order	0.01 lot
Leverage	Up to 1:1000
Spreads	From 0.0 pips (Prime ECN and Ultra ECN), from 1.2 pips (Direct STP)
Commissions	$1(Ultra), $3(Prime)
Accepted Currency	USD, GBP, EUR, SGD, JPY, NZD, CAD, BRL, AUD, HKD
Transactions Options	Visa and MasterCard, FasaPay, JCB, Sticpay, PayPal, Neteller, Skrill

#6 Pepperstone 

Pepperstone has established itself as a leading global forex broker and rightly takes the sixth spot on our list. Renowned for its raw, ECN-based pricing model, Pepperstone offers traders from the Philippines access to highly competitive market conditions. The broker’s focus on speed and efficiency is evident in its lightning-fast execution speeds. It’s no wonder it has often become a popular choice for scalpers and high-frequency traders.

Key Facts About Pepperstone:

Feature	Pepperstone
Available in the Philippines	Yes
Account Types	Standard, Razor, Islamic
Tradable Instruments	Forex, Indices, Commodities, Shares, ETFs, Metals, Currency Indices, Cryptocurrencies
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, Pepperstone Trading Platform, TradingView, Pepperstone Mobile App
Regulation	ASIC (Australian Securities and Investments Commission) and FCA (Financial Conduct Authority), BaFin, CMA, CySEC, DFSA, SCB
Minimum Deposit	No minimum deposit
Minimum Order	0.01 lot
Leverage	1:400
Spreads	Raw spreads from 0 pips (Razor account), variable spreads (Standard account)
Commissions	$3.5 per lot side (Razor account)
Accepted Currency	AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD
Transactions Options	Visa, Mastercard, Bank transfer, MPESA, PayPal, Flutterwave, Neteller, Skrill.

#7 IC Trading 

IC Trading ranks as the seventh-best Forex broker on our list for traders in the Philippines. Our review found that IC Trading provides access to over 2250 Tradable Instruments that feature Forex, Indices, Commodities, bonds, stocks, and Cryptocurrencies. The broker’s competitive average spread of 0.0 pips is an offering that makes it one of the best you’ll find around for traders in the Philippines.

Key Facts About IC Trading:

Feature	IC Trading
Available in the Philippines	Yes
Account Types	Standard, Raw accounts, Islamic
Tradable Instruments	Forex CFDs, Indices, Commodities, bonds, stocks,  Gold and Cryptocurrencies
Trading Platforms	MetaTrader 4, MetaTrader 5, WebTrader, ZuluTrade and cTrader
Regulation	Financial Services Commission of Mauritius (FSC)
Minimum Deposit	$200
Minimum Order	0.01 lot
Leverage	1:1000
Spreads	From 0.0 pips (Raw Account) and 0.8 pips (Standard Account)
Commissions	$3.5 (Raw MetaTrader), $3 (Raw cTrader), and $0 (Standard) per lot side
Accepted Currency	AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF
Transactions Options	Skrill, Paypal, Mastercard, UnionPay, Visa, Neteller, wire transfer and broker to broker

#8 XM 

XM is the eighth-best Forex broker on our list for traders in the Philippines, notably known for its sophisticated offerings. Our review indicates that XM provides access to an extensive array of over 1,000 financial instruments, including Forex, stocks, commodities, indices, metals, and cryptocurrencies. Our review highlighted their competitive spreads, starting as low as 0.6 pips, along with a no-requote policy that ensures transparent pricing and execution.

Key Facts About XM:

Feature	XM
Available in the Philippines	Yes
Account Types	Micro, Standard, Ultra-Low Standard, Shares
Tradable Instruments	Forex, CFDs on Stocks, Commodities, Energies, Metals, Cryptocurrencies, Futures, Energies, Metals, Turbo Stocks, Thematic Indices
Trading Platforms	MT4, MT5, WebTrader, XM WebTrader, XM Mobile App
Regulation	CySEC, FSC
Minimum Deposit	$5 (Micro, Standard, Ultra Low Standard), $10,000 (Shares Account)
Minimum Order	0.1 lot (Ultra low standard account and Micro account), 0.01 lot (Standard account), 1 lot (Shares account)
Leverage	1:1000
Spreads	From 0.8 pips (ultra-low Standard), 1.6 pips (Micro, Standard)
Commissions	Zero commission (Micro, Standard, Ultra low Standard), Available (Shares).
Accepted Currency	USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, CAD,
Transactions Options	Credit/Debit cards, Bank wire transfers, Skrill, Neteller, FasaPay, Perfect Money, UnionPay

#9 FBS 

FBS ranks as the ninth-best Forex broker on our list for traders in the Philippines. Our team at WR Trading found that traders in the Philippines get attractive leverage options of up to 1:3000, providing traders with the flexibility to enhance their trading potential. The broker’s spreads are competitive, starting as low as 0.7 pips, particularly for major currency pairs, which is ideal for cost-conscious traders seeking minimal trading expenses.

Key Facts About FBS:

Feature	FBS
Available in the Philippines	Yes
Account Types	Cent, Standard
Tradable Instruments	Forex, stocks, indices, cryptocurrencies, metals, energies, Futures
Trading Platforms	MetaTrader 4, MetaTrader 5, FBS App
Regulation	CySEC, ASIC, FSC (Belize)
Minimum Deposit	$5
Minimum Order	0.01 lot
Leverage	From 1:50 up to 1:3000
Spreads	Floating, starting from 0.7 pips
Commissions	Varies by account type, from $0 to commission-based
Accepted Currency	USD, EUR, GBP, AUD, XAU, MXN, JPY, CHF, CAD, NZD, TRY, SGD, ZAR, SEK
Transactions Options	Over 200+ payment methods. Neteller, Skrill, PerfectMoney, Mastercard, Wire transfer, Maestro, Rapid Transfer, STICPAY, Visa

#10 VT Markets

VT Markets is the tenth and final broker on our list of the best Forex brokers in the Philippines. Our review reveals that VT Markets provides access to over 1000 financial instruments, including 50+ forex pairs, 20+ commodities, and indices, 47 cryptocurrencies, and over 800 stocks and ETFs.

The broker has clients from over 160 countries and welcomes traders from the Philippines with open arms. We also discovered that the broker also offers a proprietary trading app, VT Pro, which provides seamless mobile trading with a smart interface.

Key Facts About VT Markets:

Feature	VT Markets
Available in the Philippines	Yes
Account Types	RAW ECN account, Standard STP account
Tradable Instruments	Forex, Indices, Commodities, Shares, Cryptocurrencies, Indices, ETFs, CFD Bonds, CFD Shares, Precious Metals, Energies
Trading Platforms	MT4, MT5, WebTrader, VT pro Mobile App, TradingView
Regulation	ASIC (Australian Securities and Investments Commission), FSCA, FSC Mauritius
Minimum Deposit	$100
Minimum Trading Size	0.01 lot
Leverage	Up to 1:500
Spreads	From 0.0 pips (Raw ECN) and 1.2 pips (Standard STP)
Commissions	$6 (RAW ECN), $0 (Standard STP) per round turn
Accepted Currency	AUD, USD, EUR, GBP, HKD and CAD.
Transactions Options	Deposits and withdrawals via bank wire, credit/debit cards, UnionPay transfer, Neteller, Skrill, Fasapay, Mobile pay, EU bank, Vietnam Instant Bank Wire Transfer, Thailand Instant Bank Transfer

Is Forex Trading Legal in the Philippines?

Yes, Forex trading is legal in the Philippines and regulated by the Securities and Exchange Commission (SEC). Traders must use brokers registered with the SEC to ensure compliance with local regulations. The Bangko Sentral ng Pilipinas (BSP) oversees currency exchange activities.

Filipino traders have access to international brokers, providing opportunities to participate in the global Forex market legally and securely.

How are Forex Brokers regulated in the Philippines

Our review shows that Forex brokers in the Philippines are regulated by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP). These authorities ensure that brokers adhere to strict guidelines for financial transparency, client fund protection, and fair trading practices. 

However, it does not prohibit individuals from trading through international brokers.   

Security of The Regulation

The regulatory framework in the Philippines prioritizes the security of traders by enforcing strict compliance measures. The SEC and BSP work diligently to ensure that brokers maintain segregated client accounts, adhere to anti-money laundering protocols, and provide transparent pricing. This comprehensive oversight minimizes fraudulent activities and ensures that traders’ funds are safeguarded, offering a high level of security and trust in the Forex market.

How to Find Out if Your Forex Broker is Regulated in the Philippines 

Before choosing a Forex trading broker in the Philippines, our team at WR Trading tries to verify the broker’s regulatory status to ensure a secure trading environment. Our review outlines the steps to determine if your Forex broker is regulated:

Check Registration with the SEC

We reviewed the fact that Forex brokers must be registered with the Securities and Exchange Commission (SEC) in the Philippines. Traders can verify the broker’s registration status by checking the SEC’s online database.

Confirm with Bangko Sentral ng Pilipinas

Our research shows that the Bangko Sentral ng Pilipinas (BSP) oversees Forex market activities. Traders should verify that the broker is compliant with BSP regulations, as this ensures that the broker operates within the legal framework of the Philippines.

Evaluate International Regulation

Also, try to find out how many brokers also possess international licenses from organizations like the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

How WR Trading Tested the Best Forex Brokers in the Philippines

At WR Trading, we rigorously evaluated the top Forex brokers in the Philippines using a comprehensive and systematic approach. Our review process began with an assessment of regulatory compliance; we verified each broker’s registration with the Securities and Exchange Commission (SEC) and adherence to the Bangko Sentral ng Pilipinas (BSP) standards to ensure legal operations.

Next, we analyzed the trading platforms offered by each broker, assessing their usability, functionality, and the availability of advanced tools for traders. We also tested the customer service by contacting support through various channels, evaluating response times, and the quality of assistance provided.

Supported Payment Methods for Philippine Traders

We reviewed the various payment methods available to Philippine Forex traders, identifying a wide range of options. After thorough research, we discovered most commonly supported payment methods include:

• Local Bank Transfers: Many brokers support transfers from major Philippine banks.
• Credit and Debit Cards: Visa and Mastercard
• Electronic Wallets: Including GCash, PayMaya, and Coins.ph
• Online Payment Processors: Including PayPal, Skrill, or Neteller

While these options are usually available at the best Forex brokers, we advise checking for your preferred method before choosing a broker. 

Conclusion: Top 10 Forex Brokers Are Available in the Philippines

Our list of the 10 best Forex brokers in the Philippines showcases different options at the disposal of Filipino traders. From established names like FP Markets and Vantage Markets to innovative platforms like BlackBull Markets and VT Markets, each broker offers unique advantages in terms of regulation, trading platforms, leverage, and financial instruments.

Keep in mind that choosing the right broker is just the first step. Successful Forex trading requires continuous learning, risk management, and discipline. But with the right platform as a foundation, Filipino traders can start their investment journey with confidence.

Frequently Asked Questions on Forex Brokers in the Philippines