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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.
MetaTrader 5 is the most recent version of the MetaTrader Forex trading platform and the first to have native multi-asset functionality for stocks, futures, and crypto. Traders will also be looking to use the expanded set of indicators and run improved MQL5 scripts to enable automated trading. The previous version of MetaTrader (MetaTrader 4) is being gradually phased out, so it’s a good time to try out this new, more advanced trading platform.
Many traders are drawn to MetaTrader 5 because of the wide range of CFDs to trade, but to find the best MetaTrader 5 brokers, we also compared trading costs, execution speed and the number of Forex pairs available. For many beginners, MetaTrader 5 will be their first trading platform, so we also tested the quality of the brokers’ technical customer support and the quality of their education. Last but not least, we made sure that all brokers on this list were fully regulated to ensure trader safety.
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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 | Regulated By | Website Language: English | Support Language: English | Compare | |||||
|---|---|---|---|---|---|---|---|---|---|---|
 | AUD 0 | 500:1 |   | 247 | 81 | Yes | Yes | |||
 | AUD 100 | 30:1 |      | 10162 | 70 | Yes | Yes | |||
 | USD 100 | 30:1 |     | 930 | 63 | Yes | Yes | |||
 | USD 5 | 30:1 |   | 1554 | 57 | Yes | Yes | |||
 | USD 10 | 1000:1 | | 2193 | 49 | Yes | Yes | |||
 | USD 200 | 30:1 |  | 1744 | 64 | Yes | Yes | |||
 | USD 0 | 2000:1 |  | 1230 | 53 | Yes | Yes | |||
 | USD 5 | 3000:1 | | 573 | 72 | Yes | Yes | |||
 | USD 0 | 30:1 |  | 1597 | 90 | Yes | Yes | |||
 | AUD 100 | 500:1 | | 846 | 55 | Yes | Yes |
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Find Your Ideal Forex Broker
0 pips
VFSC, ASIC
AUD 0
Traders looking for a cost-effective MT5 broker with excellent execution speeds and a wide range of Forex pairs.
We like the fact that Fusion Markets offer one of the lowest trading costs in the industry. Spreads start at 0 pips on its Zero Account with a low commission of 4.5 USD, and traders also benefit from multiple copy-trading solutions, like Duplitrade and Myfxbook Autotrade.
Fusion Markets has a relatively limited range of CFDs and lacks educational resources, making it less suitable for beginners.
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0.0 pips
CMA, FSA-Seychelles, FSC, FSCA, ASIC, CySEC
AUD 100
Traders looking for fast execution and low trading fees on two accounts.
FP Markets offers a full, feature-rich MT5 experience. It also offers raw pricing with no price manipulation, no dealing desk, and no requotes, a great range of trading tools, and 24/7 customer support.
Stock CFDs are limited on MT5 and primarily available through IRESS platform, which is only for Australian traders.
FP Markets | Best ECN MT5 Broker
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0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
Traders looking for a feature-rich MT5 experience with commission-free trading and a broad selection of instruments.
AvaTrade fully supports all native MT5 features, including twelve timeframes, EA functionality, 38 built-in indicators, and one-click trading and MT5 traders have full access to all financial instruments, including Forex, commodities, stocks, indices, cryptocurrencies, bonds, and ETFs.
The AvaProtect loss-protection tool and Trading Central are only available on AvaTrade’s proprietary platforms.
AvaTrade | Best Commission-free MT5 Broker
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MetaTrader 5 (MT5) is a trading platform that allows traders to access the Forex market via a broker.
Regulation: Regulation is needed to ensure your trading funds are safe and that the broker’s trading desk is not manipulating your trades. Although multiple regulators can regulate a broker, a trader should always know which regulator is overseeing your account, as only one regulator will be responsible for your trading account.
Assets available: One of the main attractions of MT5 is the expanded amount of tradable assets. Research each broker to see who has the most tradable assets and in what classes. Having a wide range of assets means a wide range of trading opportunities. If you plan on mainly trading FX, always check the number of FX pairs your broker has available.
Trading costs: Trading costs, which include spread and commission fees, will vary with each broker. The lower the total trading cost, the more profit a client can make from each trade. Each trading account can also have different trading conditions, so research trading costs on the MT5 accounts are part of your comparison.
Fee structure: While most of the best-regulated brokers will have very few additional fees, additional fees will occasionally emerge. These fees are usually inactivity fees, withdrawal fees, or charges connected with special account types like Islamic accounts.
Trade execution: Trading venue and execution speed are important components of any MT5 trading experience. The trading venue will conclude if your broker is acting as counter-party to your trade or if your broker has found you a counter-party through its network. The trade execution speed will indicate how much slippage you should expect between when you open your position and when it is opened on the market.
Hedging: MetaTrader 5 does not allow for hedging as standard, so check with your broker to see if they can enable it.
Customer service: A simple check, but check the opening hours for customer service. It is good to know when customer service is available to take your call and resolve issues promptly.
MetaTrader 5 has a lot more features than MetaTrader 4, including an Economic Calendar, Depth of Market indicator, embedded chat function, and unlimited chart windows. It also has 80 built-in indicators and 12 more time-frames than MetaTrader 4.
MetaTrader 5 has grown in popularity recently in response to higher demand for multi-asset trading and is now supported by a number of the better brokers.
Answers to common questions about the MetaTrader 5 platform.
The answer to this question depends on what you want from your platform and your previous trading experience.
If you want to trade other CFDs and Forex but want to have a standalone client, then MetaTrader 5 is a good choice. If you only want to trade Forex on a simpler platform, it’s a good idea to start with MetaTrader 4.
If you already have some experience with MT4 and are thinking of switching, it depends on your reasons. The only significant reason I can think of for switching to MT5 is if you want to trade other markets. The significant reason for not switching is that programmes written for MT4 will not run in MT5, so you will lose all your EAs, indicators and automated scripts in the transition.
The big question is how much longer the big brokers will support MT4. It is unquestionably the industry standard at present, and recent upgrades to the MQL4 language have made creating automated trading scripts almost as easy and efficient as MQL5.
That said, more brokers are offering MT5 all the time, and some have chosen to only support MT5 from now on. If you are starting out trading, there is something to be said for getting used to MT5 before it starts overtaking its older sibling, which has already started happening.
Yes, MT5 does support automated trading. In addition to copytrading through the MT5 signal service, traders can automate their trading via Expert Advisors (EAs) and technical indicators.
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.
Explore the best Forex brokers for beginners in the Philippines with user-friendly platforms, educational resources, and demo accounts.
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