FBS is a well-regulated international broker with low costs. It offers a 5 USD minimum deposit, a single trading account, and an easy-to-use mobile trading app.  Beginners should be wary of the high leverage available at FBS. Without proper risk management, high leverage can quickly wipe out smaller accounts, although FBS does offer negative balance protection. Otherwise, FBS provides a welcoming environment for beginner traders, with an excellent selection of educational and market analysis materials and 24/7 customer support.

Please note that CMC Markets no longer offers services to Filipino traders.  This review is for informational purposes only. Founded in 1989, CMC Markets is a well-known Forex and CFD broker with a high trust rating and a huge range of financial instruments to trade. However, traders may be disappointed at the high trading fees on its commission-based account.  CMC Markets offers two live accounts with no minimum deposit requirements - a low-cost commission-free account with spreads starting at 0.7 pips on the EUR/USD and a commission-based account with spreads of 0.1 pip and commissions of 0.005% (which amounts to 50 USD per lot traded), which is extremely high. Trading is offered on both MT4 and its powerful, innovative proprietary platform that features numerous technical and fundamental analysis tools.  CMC Markets also offers excellent education and market analysis materials to get new traders started, and although customer service is offered 24/5, it does not provide a live chat feature, which is a serious oversight by this broker.

A trustworthy broker with MT4 and MT5 support and one of the lowest-cost trading accounts in the industry, Tickmill provides a perfect trading environment for serious beginners and more experienced traders. However, traders from the Philippines will be onboarded through Tickmill’s Seychelles-based entity, which provides less protection than regulators in the EU or Australia. With two account types on offer, the Raw has market-leading trading conditions, leaving the fixed-fee Classic Account feeling out of place. The Raw account has a spread from 0 pips on the EUR/USD, a 100 USD minimum deposit, and a commission of 6 USD (round turn) per 1 lot traded. The commission-free Classic Account, also with a 100 USD minimum deposit, has a spread of 1.6 pips (EUR/USD), which is higher than the industry average. Education and market analysis are excellent, and experienced traders will appreciate the wide range of currency pairs. Overall, while Tickmill’s Classic account is more expensive than similar brokers, the low-cost commission account makes it an excellent choice for MetaTrader users looking for a new broker.

A trustworthy broker with MT4 and MT5 support and one of the lowest-cost trading accounts in the industry, Tickmill provides a perfect trading environment for serious beginners and more experienced traders. However, traders from Zambia will be onboarded through Tickmill’s Seychelles-based entity, which provides less protection than regulators in the EU or Australia. With two account types on offer, the Raw has market-leading trading conditions, leaving the fixed-fee Classic Account feeling out of place. The Raw account has a spread from 0 pips on the EUR/USD, a 100 USD minimum deposit, and a commission of 6 USD (round turn) per 1 lot traded. The commission-free Classic Account, also with a 100 USD minimum deposit, has a spread of 1.6 pips (EUR/USD), which is higher than the industry average. Education and market analysis are excellent and experienced traders will appreciate the wide range of currency pairs. Overall, while Tickmill’s Classic account is more expensive than other similar brokers, the low-cost commission account makes it an excellent choice of broker for MetaTrader users looking for a new broker.

A well-regulated broker, Swissquote is a good choice for experienced traders looking for excellent trading tools, a broad range of tradable assets, and flexible trading conditions on the Metatrader platforms. However, Swissquote's initial and ongoing trading costs are significantly higher than the industry average.  Part of a larger Swiss banking group, Swissquote offers a range of non-brokerage financial services and is subject to considerably tighter regulation than most brokers. It offers trading on numerous assets, including indices, commodities, bonds, vanilla options, cryptocurrencies, metals, share CFDs, and over 130 Forex pairs - one of the largest sets in the industry. Because Swissquote targets professional traders, minimum deposits are high, starting at [fxs-broker-property identifier="deposit"] [fxs-broker-property identifier="currency"] on its entry-level account with spreads of [fxs-broker-property identifier="eur_usd_spread_smallest_account"] pips on the EUR/USD. Minimum deposits escalate quickly, with the Prime Account requiring a minimum deposit of 50,000 USD but still featuring relatively high ongoing trading costs. With higher trading volumes, traders can access the Professional Account, with bespoke trading conditions. Swissquotes offers a broad range of trading platforms, including MT4, MT5, and its proprietary platform, Advanced Trader. It also provides free access to an excellent selection of trading tools, including Autochartist, Metatrader Master Edition, Trading View, and Trading Central. Most other brokers charge a premium for using these tools, which may justify why the minimum deposits on Swissquote's accounts are so high.   Apart from the high trading costs, another drawback is the quality of Swissquote's customer service, which is rarely available on live chat or email.