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Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.
Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast to help traders make informed, safe decisions.
Chris Cammack is the Partner Manager and a financial writer at FxScouts. Chris builds and maintains our relationships with our partners to provide our users with the best Forex trading experience.
The best Forex brokers for beginners share the same qualities. They are regulated to ensure protection from fraud and have a user-friendly trading platform for a stress-free trading experience. In addition, they have a comprehensive trading education and a free demo account so beginners can learn to trade without risking money. They should also have low costs and reliable customer support if technical issues arise.
All the Forex brokers on this list have been chosen because they meet these criteria, so whatever your exact needs as you start trading, you will find a broker that suits you.
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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.
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Broker | Official Site | Unlimited Demo | Support Hours | Trading Cost 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. | Regulated | Website Language: English | Support Language: English | Compare | ||
|---|---|---|---|---|---|---|---|---|---|---|
 | USD 200 | No | 24/7 | USD 8 |     | Yes | Yes | |||
 | USD 5 | No | 24/5 | USD 6 |    | Yes | Yes | |||
 | USD 3 | No | 24/7 | USD 7 |     | Yes | Yes | |||
 | USD 10 | Yes | 24/5 | USD 17 |  | Yes | Yes | |||
 | AUD 100 | Yes | 24/5 | USD 6 | | Yes | Yes | |||
 | USD 100 | No | 24/5 | USD 9 |    | Yes | Yes | |||
 | USD 0 | No | 24/7 | USD 10 |   | Yes | Yes | |||
 | USD 5 | Yes | 24/7 | USD 7 | | Yes | Yes | |||
 | USD 0 | No | 24/5 | USD 7 |  | Yes | Yes | |||
 | AUD 0 | Yes | 24/7 | USD 4.50 |  | Yes | Yes |
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Find Your Ideal Forex Broker
0.1 pips
CMA, FSA-Seychelles, SCB, CySEC
USD 200
TradingView, cTrader, MT5, MT4
500:1
IC Markets offers spreads as low as 0.0 pips with $3.5 commission per lot — ideal for beginners who want to learn scalping or day trading effectively.
Beginners can practice for as long as needed without restrictions, a great way to simulate live trading environments safely.
Traders can explore all major platforms and gradually learn more advanced tools like Depth of Market (DOM) via cTrader.
Though geared toward intermediate users, IC Markets' webinars and video tutorials are useful for beginners who want to go deep.
IC Markets does not offer any welcome bonuses, which may be a hurdle for Filipinos looking to start with minimal capital.
Beginners might find the variety of platforms and features overwhelming without a guided start.
IC Markets | Best for: Filipino beginners who want raw spreads and deep liquidity for smooth learning
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0.6 pips
DFSA, FSC, ASIC, CySEC
USD 5
MT5, MT4
500:1
A well-regulated market maker with low-deposit, low-cost trading accounts, XM offers trading on multiple assets, including Forex, stocks, commodities, equities, precious metals, energies, and shares. Traders can choose between four live accounts on both the MT4 and MT5 platforms.
XM provides some of the best educational content and market analysis in the industry. Its various sections include its unique live education, available Monday through Friday 05:00 – 15:00 GMT, daily Q&A sessions, educational videos, Forex webinars presented by 67 highly skilled experts in 19 languages, platform tutorials, and Forex seminars. Thus, traders will be well equipped to get their trading careers underway.
Allows new users to start trading live without any financial risk upfront — one of the few brokers offering this in the Philippines.
Perfect for cautious learners — lets you test real trading with very little capital.
Designed for true beginners, their webinars include basic MT4 training, risk management, and market outlooks.
Responsive support team that understands Filipino client needs and banking channels.
MT4 and MT5 users must rely on third-party signals or manual strategies.
Excellent for beginners, but intermediate traders may find fewer advanced tools and guidance.
XM | Best for: Beginners in the Philippines looking for guided learning, low deposits, and a strong bonus structure
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0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
Traders can start with any amount, ideal for cautious beginners exploring the market slowly.
Enables high-risk learning environments for advanced beginners who want to scale with small capital.
24/7 automated withdrawals to GCash or Philippine banks — no manual request delays.
Beginners can copy vetted strategies without needing to analyze charts themselves.
Requires at least 10 positions closed and 5 lots traded — not beginner-ready out of the box.
Unlike XM, there's no initial capital boost to test live trading without risk.
Exness | Best for: Filipino beginners looking for high leverage, no deposit limits, and instant withdrawal
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0.7 pips
FRSA, FSA-Seychelles, CySEC
USD 10
NAGA Web App, MT5, MT4
1000:1
Allows users to see, comment on, and automatically copy top traders’ moves in real-time.
Perfect for users who are new to charts but familiar with apps like Instagram or TikTok.
Only pay a commission when the copied trader earns a profit — aligns incentives transparently.
Beginners can test strategies and copying functions in a sandbox environment.
Most training is Europe-focused; may require additional third-party learning.
Some Philippine users report longer processing times (up to 24 hours).
NAGA | Best for: Beginners in the Philippines who prefer social trading and a TikTok-style feed of trades
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0.0 pips
CMA, FSA-Seychelles, FSC, FSCA, ASIC, CySEC
AUD 100
IRESS, cTrader, MT5, MT4
30:1
A well-regulated broker, FP Markets offers competitive trading conditions on two live accounts on the MT4, MT5, cTrader, and TradingView platforms. Spreads average at 1.2 pips (EUR/USD) on its commission-free Standard Account and 0.10 pips (EUR/USD) on its Raw Account in exchange for a commission of 6 USD (round turn) per lot traded. Both accounts also have a minimum deposit of only 100 AUD (or equivalent), making them accessible to beginner traders.
Available 24/5 via live chat, email, and telephone in over 12 languages, FP Markets’ customer service helps beginner traders with all aspects of CFD trading, from setting up an account to navigating its platforms and any other technical queries. FP Markets’ education is one of the best in the industry, with videos, various courses, webinars, and podcasts. It also offers some beginner-friendly trading tools, including Autochartist and Trading Central, and frequently updated market analysis.
FP Markets offers structured training articles, glossary terms, and PDF eBooks for absolute beginners.
Beginners can start with MT4 and later grow into more advanced Iress platforms for CFD trading.
Helps new traders avoid overpaying in hidden costs — ideal for micro-accounts and small trades.
Live chat often resolves issues within 2–5 minutes, a great plus for less tech-savvy users.
Copy trading is available only via integrations — not beginner-friendly without setup.
Higher than other beginner brokers like XM or FBS; may deter users on tighter budgets.
FP Markets | Best for: Filipino beginners looking for step-by-step educational guidance with low-cost execution
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Forex trading involves buying and selling currencies on the foreign exchange market to profit from fluctuations in exchange rates.
The Forex market is the biggest financial market in the world, with over 6.6 trillion USD traded daily. It operates 24 hours a day, 5 days a week—from Sunday night, when the Australian market opens, until Friday evening, when the US market closes.
Getting started in Forex trading can be challenging, but with the right approach, you can navigate the market effectively. This section will outline the basic steps to help you begin, from demo trading to risk management. Whether you plan to trade occasionally or pursue it more seriously, this guide provides the essential knowledge to help you make informed decisions and start trading in the Forex market.
Online Forex trading can only be done via a Forex broker. Because most of the currency traded globally comes from large institutions like banks that don’t deal with retail clients, Forex brokers facilitate the trades between these institutions and retail traders. Forex brokers buy up large currency positions and make them available to retail traders who can open accounts with just a few hundred dollars or less. Brokers also provide the software – called a trading platform – which connects the trader to the virtual network of computers that forms the Forex market.
Demo accounts are a crucial tool for any beginner in the forex market. These accounts allow new traders to practice trading with virtual money, providing a risk-free environment to understand how trading works. They offer real-time market data, enabling traders to familiarise themselves with different trading platforms, implement different strategies, and understand trading operations like placing orders and setting stop losses. Beginner traders should always start with a demo account before transitioning to a live trading account.
Risk management is a key component of successful forex trading. It involves recognising potential risks and taking steps to mitigate them. This includes setting stop-loss orders to limit potential losses, using leverage wisely to avoid significant losses, and never investing more money than you can afford to lose. Diversification, trading only a small portion of your capital, and not getting emotionally attached to trades are vital risk management strategies. Remember, the goal is not to win every trade but to manage your risk so you can stay in the game for the long term.
Understanding and following market trends is essential in forex trading. Trends give traders an idea of the direction in which the market is moving. Traders can use various technical analysis tools to identify trends, such as moving averages and trend lines. Following market trends and combining this strategy with other trading techniques can increase the likelihood of making successful trades. Additionally, staying updated with global news and economic indicators can provide insights into potential market trends. It’s important to note that trends can change quickly, so traders should be adaptable and ready to respond accordingly.
Forex trading requires constant learning to stay abreast of changing market conditions. This can be achieved by attending webinars and seminars, enrolling in online courses, listening to podcasts, and staying updated with financial news. Traders should also learn technical analysis, charting, and the use of trading indicators. Practising different strategies and learning from their success or failure is also essential.
When choosing a Forex broker, there are a couple of things you need to look out for and taking into account.
Ensure the broker you choose is regulated by a reputable financial authority, like the FCA of the UK. Regulation provides a level of security and ensures that the broker adheres to a set of standards, providing trader protection against fraudulent activities
As a beginner, it’s essential to choose a broker that offers a user-friendly trading platform. The platform should be easy to navigate, with a clear layout and intuitive design. It should provide easy access to buy and sell orders, charting tools, market news, and other features necessary for trading. Moreover, the platform should offer seamless execution of trades and real-time price updates. The functionality and usability of the trading platform will have a significant impact on your trading experience.
A forex broker that offers comprehensive educational resources can be highly beneficial for beginners. Look for brokers that provide a range of learning materials, such as e-books, webinars, tutorial videos, FAQs, and glossaries. These resources can help you understand forex trading concepts, strategies, market analysis, risk management, and more. Some brokers also offer dedicated learning centres or academies, which can be incredibly valuable for enhancing your trading knowledge and skills.
Demo accounts are an invaluable tool for beginners. They allow you to practice trading strategies, understand how the forex market operates, and get familiar with the trading platform without risking any real money. Ensure that the broker you choose provides an easily accessible and fully functional demo account. Ideally, the demo account should closely mimic the conditions of a real trading account, offering a realistic trading experience.
As a beginner, it’s advisable to start with a broker that has a low minimum deposit requirement. This allows you to start live trading without making a significant financial commitment. Remember, as a new trader, the primary goal should be to learn and gain experience, not to make big profits. Once you gain confidence and experience, you can consider investing more money. Always remember that forex trading involves risks, and it’s possible to lose the money you invest.
For beginners, effective customer support can be crucial. Problems can arise anytime, and having a responsive local Filipino support team can make a significant difference. You want a broker that offers 24/7 customer support through various channels (e.g., live chat, email, and a local telephone number). Additionally, the support team should be knowledgeable and capable of resolving issues quickly and effectively.
Every time you trade, you will have to pay for either the spread or a commission, so it’s crucial to look for the most affordable and reliable brokers. When we evaluate brokers, one of the most important considerations is the trading costs, which can affect your profitability.
Good forex brokers will allow you to deposit funds and withdraw your earnings hassle-free. Ensure the broker’s withdrawal and deposit methods are convenient and straightforward. Check for any fees associated with these transactions, as they can vary between brokers. Having accounts denominated in PHP is also a bonus for Filipino traders, who will be able to avoid paying currency conversion fees on deposits and withdrawals.
The FAQ section offers tips for choosing the best Forex brokers for beginners, including advice on selecting a broker and the costs involved in trading.
Some brokers have a minimum deposits of just 10 USD, but we recommend starting with at least 200 USD to avoid your account being wiped out if the market turns against you. Most international brokers require a minimum deposit in USD, which can vary from as low as 5 USD to as high as 2000 USD, depending on the broker and the account type you are opening.
Forex trading is a risky endeavour that can cause substantial losses if not managed properly. Some of the risks associated with Forex trading are market volatility, which can cause losses due to sudden currency fluctuations, and high leverage, which can intensify both gains and losses. The decentralization of the forex market also contributes to the risk, as it can lead to potentially fraudulent activities. Additionally, external factors like political instability, economic events, and natural disasters can dramatically affect currency values, adding to the inherent risks.
Yes, it is possible to make a living through forex trading, but it’s important to note that this is not easy and is not the norm. Successful forex trading requires a high level of knowledge and skill, as well as a comprehensive understanding of financial markets, macroeconomic indicators, and risk management. Forex traders must be prepared to spend a significant amount of time studying the markets, following international news, and developing and testing trading strategies. Consistent profitability requires time, patience, discipline, and continual learning.<
Improving your forex trading skills involves a combination of education, practice, strategy development, and emotional control:
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.
Discover the top Forex brokers in the Philippines. Compare top platforms, fees and features to make an informed trading choice.
What is Forex trading and how does it work? An easy-to-read guide including how to trade, and how to choose a reliable broker.
Learn the basics of Forex and CFD trading regulation, how it protects traders, and why choosing a regulated broker is essential for safe trading.
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.
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