ASIC, CySEC, DFSA +2 more
Top Philippines FX brokers
In the Philippines, Forex trading stands as a lawful and well-controlled practice. The oversight of Philippines Forex brokers falls under the authority of the Financial Market Authority (FMA). These brokers, regulated by the FMA, are permitted to function within the nation and are obligated to adhere to the relevant laws and regulations set by the authority.
Despite its nominal GDP ranking at 147th place, amounting to 6.8 billion dollars, the Philippines boasts a distinctive achievement with a per capita GDP of 180,000 USD, placing it at the forefront. This country houses a robust financial system and once held the moniker of a tax haven, which significantly spurred the popularity of FX trading. When assessed in terms of total GDP by purchasing power parity (PPP), it occupies the 149th spot with a valuation of 5.3 billion dollars, while on a per capita basis, it seizes the 3rd rank with 98,000 USD.
Below, we present a compilation of the best Forex brokers in Philippines, systematically ranked based on our findings.
9.90
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSignals
Regulations
Platforms
MT4, MT5
9.72
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSignals
Regulations
ASIC, CySEC, DFSA +2 more
Platforms
MT4, MT5
9.54
MT4MT5Copy tradingECNHigh leveragePAMMSTP
Regulations
CMA, Central Bank of Curaçao and Sint Maarten, CySEC +5 more
Platforms
MT4, MT5
9.36
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSTP
Regulations
ASIC, CySEC, DFSA +2 more
Platforms
MT4, MT5
9.18
9.00
MT4MT5Deposit bonusCopy tradingECNHigh leveragePAMMSignalsSTP
Regulations
ASIC, CySEC, FSCA +2 more
Platforms
MT4, MT5
8.82
MT4No deposit bonusCopy tradingPAMMSignals
Regulations
ASIC, CySEC, FCA UK +2 more
Platforms
MT4, Custom
8.64
MT4MT5cTraderCopy tradingECNPAMMSignals
Regulations
ASIC, BaFin, CMA +4 more
Platforms
MT4, MT5, TradingView +1 more
8.46
8.10
MT4MT5Copy tradingHigh leverage
Regulations
ASIC, CySEC, FSA Seychelles +1 more
Platforms
MT4, MT5, TradingView +1 more
Engaging in FX trading within the Philippines holds the advantage of being tax-exempt, as capital gains taxes on trading profits are nonexistent. Top Forex brokers in Philippines maintain the liberty to offer varying degrees of leverage, as there exist no explicit constraints on maximum leverage for retail forex traders. While this confers a level of convenience, it also heightens the potential perils of overleveraging in trading. Local traders are thus advised to align with brokers known for their transparency and fairness in client dealings.
Concerning compensation for eligible investors in scenarios involving broker insolvency, the trusted Forex brokers in Philippines are subject to regulation overseas and are encompassed within compensation funds, due to the absence of clearly defined local policies in this regard.
In conclusion, when trading Forex from the Philippines, it is advisable to opt for globally-regulated brokers. This practice offers an added layer of security and assurance for traders in this dynamic market.
