- Beginner? → HFM vs Pepperstone
- Low trading costs? → Octa vs IC Markets
- Social trading? → AvaTrade vs NAGA
- MetaTrader? → Pepperstone vs XM
- High leverage? → FBS vs Exness
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Did you know? Alongside the high risks of trading, many Filipino Forex traders lose money because of hidden broker fees, high spreads, and poor regulation. But the right broker can change that.
We spent 30,000+ hours testing and analysing 180+ brokers to bring you this exclusive, data-backed guide.
Trusted. Transparent. Tested.
For over a decade, we’ve set the standard in forex broker reviews—collecting thousands of data points yearly to deliver unbiased, expert-backed insights.
Skip the trial and error! Below, you’ll find the best forex brokers in the Philippines for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence.
You can either use the arrow button or swipe on mobile
Broker | Official Site | Licenced by | Min. Deposit | Cost of Trading Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Compare | |
---|---|---|---|---|---|---|
USD 3 | USD 7 | |||||
USD 0 | USD 10 | |||||
USD 200 | USD 8 | |||||
USD 10 | USD 17 | |||||
AUD 0 | USD 4.50 | |||||
USD 100 | USD 9 | |||||
USD 5 | USD 6 | |||||
USD 0 | USD 10 | |||||
USD 5 | USD 7 | |||||
USD 100 | USD 6 |
Quick Forex Broker Finder Tool
0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
One of the few brokers globally offering unlimited leverage after basic trade history is met, ideal for small-cap traders.
Most withdrawals are processed instantly via auto-processing—even on weekends—with local bank integration in the Philippines.
Choose from Standard, Raw Spread, Zero, or Pro to suit your strategy and capital size.
Copy top-performing traders with full transparency and detailed metrics through Exness’ proprietary Copy Trading system.
Exness does not offer any promotional bonus or trial funds for new users.
Only available after trading 5 lots and having no open positions during major news events.
Exness | Best for: Traders seeking ultra-high leverage, automated withdrawals, and diverse account types
FxScouts
0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
1000:1
Pepperstone’s award-winning, 24-hour support provides the foundation for its excellent customer service, where personalised assistance is available via several methods. For beginners interested in ECN trading, Pepperstone’s also has one of the better education sections offered by a market execution broker
Trade on MT4, MT5, and cTrader—all optimized for speed, algo trading, and execution precision.
Spreads from 0.0 pips on major pairs with $3.50/lot commission; ideal for scalping and day trading.
Free advanced trading add-ons like sentiment indicators and order flow tools.
Regulated by ASIC, FCA, CySEC—trusted brand with full transparency.
No custom mobile app; relies entirely on third-party platforms.
$200 minimum may deter first-time traders in PH used to no-deposit setups.
Pepperstone | Best for: Filipino traders looking for multi-platform access and strong regulatory backing
FxScouts
0.1 pips
CMA, FSA-Seychelles, SCB, CySEC
USD 200
TradingView, cTrader, MT5, MT4
500:1
Spreads from 0.0 pips on EUR/USD with very low commissions—excellent for cost-sensitive traders.
Average execution speed under 40ms, appealing to HFT and scalping systems.
Provides both trading depth and interface familiarity to diverse traders.
Supports algo, institutional, and copy trading via various integrations.
Relies on third-party integrations; no native social trading feature.
Lacks direct PH banking integrations like GCash or BDO for funding
IC Markets | Best for: Advanced Filipino traders seeking raw spreads and superior execution speed
FxScouts
0.7 pips
FRSA, FSA-Seychelles, CySEC
USD 10
NAGA Web App, MT5, MT4
1000:1
Copy top traders, interact in community feeds, and manage your portfolio in one app—ideal for beginners
Trade stocks, indices, and cryptocurrencies along with Forex from one account
You only pay copy commissions if the trader you follow is profitable—protects your downside.
Licensed by CySEC, giving users transparency and fund protection policies
Naga does not offer raw spread accounts; better for learning, not for low-cost scalping
Platform prioritizes ease-of-use over in-depth strategy tools
NAGA | Best for: Filipino beginners interested in social trading and crypto alongside Forex
FxScouts
0 pips
VFSC, ASIC
AUD 0
TradingView, cTrader, MT5, MT4
500:1
Fusion Markets offers spreads from 0.0 pips and a commission of only $2.25 per lot per side—nearly 50% lower than the industry average.
No restrictions on high-frequency trading or expert advisors make it perfect for algo traders and fast-paced scalping strategies.
Filipino traders can access localized funding via UnionBank and GCash, with support from an Asia-based team.
Trade via MT4, MT5, and cTrader—offering wide choice and flexibility to match any trader profile.
Fusion Markets does not offer deposit bonuses or welcome promos, which may discourage new budget-conscious traders.
Relies entirely on third-party platforms like MetaTrader and cTrader.
Choosing the best Forex brokers involves a detailed and systematic evaluation process. FxScouts uses a hands-on approach, combining our expert analysis with practical testing to review each broker thoroughly.
When comparing the best Forex brokers in the Philippines, we:
The ideal broker depends on your trading preferences. In general, the best brokers in the Philippines are well-regulated and offer a low-cost, user-friendly trading platform suitable for both beginners and experienced traders.
The best brokers for beginners are well-regulated and have no minimum deposit requirement, ensuring security and a low cost of entry. Also important are low fees and negative balance protection, as these both help to lower risk. Responsive and knowledgeable customer support is essential. Customer service should be available 24/5 via email, live chat, and telephone, though 24/7 is better. Last but not least, beginners should look for a broker with a high-quality education section; this should feature articles, video tutorials, frequent webinars, advanced trading strategies, and chart analysis.
For more detail and to see which brokers we recommend for new traders, check out our dedicated page on the best brokers for beginners.
The brokers with the best demo accounts understand that beginners should not be forced into trading real money and that experienced traders should be able to test strategies as long as they want to. So the best demo accounts are not time-limited and replicate real market conditions as closely as possible. Beginners looking for a demo account will want a broker with good education, so they can learn about Forex trading as they practice.
For more detail and to see which brokers we recommend for demo trading, check out our dedicated page on the best demo accounts.
The best Forex brokers generally offer Metatrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These are third-party trading platforms which you can install on your computer. They are fully customisable and have advanced charting tools, research tools, and options for automated trading or copy trading. Some brokers also have their own trading platforms, which are usually accessed via a browser or on your mobile phone. For more details on trading platforms and how they work, check out our guide on trading platforms.
Since the Philippines lacks its own financial regulatory authority for Forex trading, traders should always exercise caution.
The Philippines is an interesting case for retail Forex traders as there are several laws relating to Forex trading that make it difficult to trade in the country.
If you’re based in the Philippines, you should know that the Philippines’ Securities and Exchange Commission (SEC) has taken a rather firm stance against forex trading due to reports of fraud and heavy losses by retail traders. In fact, the SEC has issued advisories stating that forex trading is illegal to discourage private individuals from trading currencies and local brokers from engaging in the forex business.
Forex trading is a high-risk venture, and institutional traders can lose money on their trades, and the Philippines central bank, the Bangko Sentral ng Pilipinas (BSP), could stand to lose a significant amount of PHP through this process. To counteract this outflow of pesos, the BSP would be forced to purchase USD by overselling the PHP, leading to a devaluation of the PHP.
In effect, the BSP prohibits Forex trading to protect the PHP from unintended weakness against global currencies.
Although online Forex trading is effectively outlawed, traders from the Philippines can trade with offshore brokers. We recommend choosing brokers regulated by top-tier global authorities such as ASIC, the FCA, and CySEC.
Regulation is essential for protecting your money and ensuring a fair and transparent trading experience.
When trading Forex, you want to be confident that your broker is operating legally and ethically and that your funds are being handled safely. Regulated Forex brokers must adhere to strict standards set by regulatory bodies, which include requirements for capital adequacy, segregation of client funds, and ongoing reporting and compliance. This means that your funds are protected, and your trading experience is fair.
Unregulated brokers are not forced to hold to the same standards. This can lead to a higher risk of fraud or unethical practices, which can result in financial losses for traders. Choosing a regulated Forex broker gives you peace of mind and security, knowing that your investments are protected and your trading experience is fair.
Discover answers to common questions about Forex trading in the Philippines, including regulation and costs.
Yes, you will need a broker to trade Forex. Connecting traders to the Forex market is an expensive and technically complex business. Most Forex brokers form a bridge between the global Forex market and Forex traders; these are called market makers. Market makers buy up large trading positions from the Forex market, which they sell to traders in smaller trade sizes.
Other brokers act as a go-between, taking orders from traders and sending them straight to the global Forex market. These are called ECN brokers or DMA brokers. Both types of Forex brokers require a lot of money to set up and need teams of highly qualified technicians to maintain their trading platforms.
Market markers only make money from the spread – the difference between the buying and selling price of the currency pair. These brokers will be the counterparty to any trade, so they make money when clients lose trades.
ECNs have tight spreads but make money from commissions, which are charged every time a trade is opened or closed. This type of broker makes money whether a client wins or loses.
The cost of trading Forex varies depending on what you are trading, how much of it you are trading and how your broker charges you. The two common trading costs are the spread and the commission — these are fees that a Forex trader pays to use a broker’s services. It is important to understand and calculate your costs when trading Forex, as these costs will affect your overall profitability.
The spread is the difference between the buy price (also known as the offer or ask price) and the sell price (also known as the bid price) quoted for a currency. It can be either fixed or variable. The spread is measured in pips, with the industry average being around 1 pip on the EUR/USD, but higher for other currency pairs.
The commission is a fee, usually measured in USD, that is charged when you open and close a trade. The industry average is 3.50 USD per lot per side (7 USD round turn), but this often depends on the account type and platform you choose. Not all brokers charge a commission and instead have wider spreads.
To calculate the total cost, use a spread cost calculator, which are widely available for free on the Internet.
Read more about understanding your trading costs in Forex here.
Besides the trading costs, brokers could also charge other types of fees – often referred to as non-trading fees. These fees include swap/rollover fees (a fee your broker either credits or debits from your account balance whenever you keep a position open overnight), inactivity fees (charged to accounts when there’s been no trading activity for a certain amount of time) and fees for withdrawing funds.
Brokers often charge fees for additional paid services such as VPS (Virtual Private Server) hosting, premium trading signals, and access to exclusive versions of trading platforms, such as TradingView Plus or Premium.
Explore more resources that fellow traders find helpful! Check out these other guides to enhance your forex trading knowledge and skills. Whether you’re searching for the best brokers, educational material, or something more specific, we’ve got you covered.
60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.