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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.
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.
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Broker | Official Site | Regulated By | Website Language: English | Support Language: English | Compare | |||||
|---|---|---|---|---|---|---|---|---|---|---|
 | USD 0 | 30:1 |        | 1597 | 90 | Yes | Yes | |||
 | USD 0 | 2000:1 |    | 1230 | 53 | Yes | Yes | |||
 | USD 100 | 30:1 |     | 930 | 63 | Yes | Yes | |||
 | USD 5 | 30:1 |  | 1554 | 57 | Yes | Yes | |||
 | AUD 100 | 30:1 | | 10162 | 70 | Yes | Yes | |||
 | AUD 0 | 500:1 |  | 247 | 81 | Yes | Yes | |||
 | USD 10 | 1000:1 | | 2193 | 49 | Yes | Yes | |||
 | USD 200 | 30:1 | | 1744 | 64 | Yes | Yes | |||
 | USD 5 | 3000:1 | | 573 | 72 | Yes | Yes | |||
 | AUD 100 | 500:1 | | 846 | 55 | Yes | Yes |
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Find Your Ideal Forex Broker
0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
1000:1
Pepperstone’s MT5 servers are hosted at Equinix data centers, ensuring sub-30ms latency for Filipino traders using ECN accounts
Perfect for new traders on a budget who want to test MT5 with a small amount of capital
Includes indicators, alarms, trade terminal, correlation matrix, and sentiment tools designed for high-precision trading
Provides excellent fund security and transparent trading practices
The learning curve may be steeper for complete beginners in the Philippines
Pepperstone | Best for: Filipino traders seeking raw spreads, ultra-fast execution, and advanced MT5 tools
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0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
Ideal for micro-lot traders and those testing MT5 before committing larger funds
Includes Premium, Zero Spread, and HFcopy accounts
Bonus programs that Filipino traders frequently utilise to boost capital
An archive of free MT5 tutorials suitable for Filipino traders
Beginners may unknowingly start with wider spreads without understanding the cost implications.
Especially for mobile users using HFM’s proprietary app with MT5 integration
HFM | Best for: Filipino beginners looking for MT5 plus education and trading incentives
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0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
AvaOptions, Avatrade Social, MT5, MT4
400:1
Unique to AvaTrade, this feature allows Filipino traders to insure trades for a fee—available via AvaTradeGO app integrated with MT5
Including the Central Bank of Ireland and FSCA, ensuring high credibility and fund security
Offers seamless signal-based automation without needing extra installations
Offers a mix of spread types depending on trader preferences and risk appetite
Exclusively usable through AvaTradeGO, which may limit full-platform functionality
Accounts inactive for 3 months face monthly deductions
AvaTrade | Best for: Filipino MT5 users seeking built-in risk protection and auto-trading compatibility
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0.6 pips
DFSA, FSC, ASIC, CySEC
USD 5
MT5, MT4
500:1
Filipino traders can start small with all features of MT5 on real accounts
Allows risk-free testing of XM’s MT5 trading conditions
One of the most diverse MT5 offerings—from Forex to indices and crypto
Includes Philippine time webinars and Tagalog-language materials
Profits from bonuses can only be withdrawn after meeting volume requirements
Limits innovation compared to competitors with custom-built platforms
XM | Best for: Filipino traders seeking low-deposit MT5 access with high leverage and bonuses
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0.0 pips
CMA, FSA-Seychelles, FSC, FSCA, ASIC, CySEC
AUD 100
TradingView, cTrader, MT5, MT4
30:1
Filipino traders get direct market access with tight spreads and low latency
EUR/USD spreads average 0.1 pips on Raw account — ideal for scalping and day trading
MT5 traders can connect automated strategies via VPS hosted near liquidity hubs
Add-on suite for MT5 enhances charting, risk tools, and sentiment indicators.
More suitable for serious traders than those looking for deposit incentives
Filipino traders may find support and learning materials too generic
FP Markets | Best for: Filipino scalpers and algo traders looking for raw spreads and lightning-fast MT5 execution
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MT5 (MetaTrader 5) is a trading platform that allows traders to access the Forex market via a broker. Released in 2010, it is more powerful than MetaTrader 4 (MT4) and provides access to stocks and futures. It also has extra trading tools and charts and has more advanced back-testing.
Much like MT4, MT5 allows traders to access the Forex market via a broker, but it also provides additional access to CFDs, stocks and futures. This also means that it is a more valuable asset for brokers as it allows them to reach a broader base of clientele – this has resulted in a noticeable uptick in the number of brokers supporting MT5, sometimes replacing their support for MT4 altogether.
MT5 comes with a new script-writing language, MQL5, which is much more efficient than MQL4, but harder to learn for beginners.
Though the interface is similar to MT4, MT5 has more advanced charting tools, including 12 more timeframes and more built-in technical indicators.
MT5 also allows for an unlimited amount of charts to be used, shows Depth of Market and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system.
Regulation: Regulation is always the first thing we look at when reviewing a broker. 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, you should always know which regulator oversees your account. Only one regulator will be responsible for your trading account.
Assets available: One of MT5’s main attractions is the large number of tradable assets. We researched 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, so we always recommend brokers with lower trading costs.. Be aware that different trading accounts at the same broker can have different trading costs.
Fee structure: Most well-regulated brokers charge a few additional fees, and there are some common ones that we always look for. These fees are usually inactivity fees, withdrawal fees, or charges connected with special account types like Islamic accounts.
Customer service: The quality of customer service varies widely in the trading industry. It’s important that customer support is available via phone 24/5, but we also ensure that the customer support staff are prompt, competent, and knowledgeable.
The answer to this question depends on what you want from your platform and your previous trading experience.
If you are a beginner trader and want to trade a range of assets, as well as Forex, but want a standalone client, MT5 is a good choice. If you only want to trade Forex on a simpler platform, you can start with MT4, but be aware that you are using a system that will eventually be replaced.
If you already have some experience with MT4 and are thinking of switching, it really depends on your reasons why. The only significant reason 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 no longer as popular as it used to be, and recent upgrades to the MQL5 language have made it almost as easy as MQL4 for traders to create automated trading scripts.
That said, more brokers are offering MT5 all the time, and some have chosen to only support MT5 from now on. If you are new to trading, there is something to be said for getting used to MT5 before it starts overtaking its older sibling, which has already started happening.
MT5 has grown in popularity recently in response to higher demand for multi-asset trading and is now supported by many better brokers.
Answers to common questions about the MetaTrader 5 platform.
MT5 is not a broker — it is a trading platform. Think of it as a tool or software traders use to access financial markets via a broker. A Forex broker integrates MT5 into its infrastructure, allowing clients to place trades, run Expert Advisors (EAs), conduct technical analysis, and manage portfolios from a single interface.
In the Philippines, well-regulated brokers like AvaTrade, Pepperstone, or XM offer the MT5 platform to local clients. These brokers handle account management, deposits, withdrawals, and trade execution, while MT5 provides the interface and functionality for trading.
The primary difference between MT4 and MT5 lies in their architecture, functionality, and supported asset types. Here’s a breakdown:
| Feature | MT4 | MT5 |
|---|---|---|
| Asset Classes | Forex only | Forex, CFDs, Stocks, Futures |
| Timeframes | 9 | 21 |
| Strategy Tester | Single-threaded | Multi-threaded & Real Ticks |
| Economic Calendar | No | Yes |
| Depth of Market | No | Yes |
| Pending Orders | 4 types | 6 types |
| Programming Language | MQL4 | MQL5 |
Due to its simplicity, MT4 remains popular with Filipino traders for Forex-only strategies. However, MT5 is increasingly preferred by advanced traders looking to diversify assets or use enhanced analytical tools.
Yes — MetaTrader 5 (MT5) is an excellent platform for Forex trading in the Philippines, especially for traders who value fast execution, advanced analysis tools, and support for automated strategies. Most internationally regulated brokers that accept Filipino clients offer MT5 accounts, making it easily accessible to both beginners and experienced traders.
Filipino traders benefit from MT5’s:
Integrated Economic Calendar: Stay on top of major global economic events that can influence currency prices — a crucial feature for informed trading.
38 technical indicators and 44 analytical tools: MT5 provides deep analytical capabilities for those who rely on chart patterns, trends, and momentum.
Multi-threaded Strategy Tester: Ideal for backtesting trading robots (Expert Advisors), improving automated and algorithmic strategies.
Advanced order types: Features like stop-limit and fill-or-kill orders help traders manage entries and exits more precisely.
Hedging support: MT5 allows multiple positions in the same asset, giving flexibility during high-volatility periods — useful for risk management.
To get the most out of MT5, look for brokers that offer:
Tight spreads and low trading costs: These reduce your expenses per trade and help improve your profitability.
PHP-friendly deposit and withdrawal options: Look for brokers that support GCash, Maya, local bank transfers (BDO, BPI, Metrobank), debit/credit cards, or e-wallets like Skrill and Neteller.
Fast and transparent withdrawal processing: Ensure the broker does not charge hidden fees and processes withdrawals within 1–2 business days.
Reliable customer support: Preferably with Filipino support staff or localised help options, ensuring faster assistance when issues arise.
No, MetaTrader 5 is free for individual retail traders. The MT5 desktop, mobile, and web platforms can be downloaded at no cost. However, to trade live markets, you need to open an account with a broker that offers MT5. The cost structure depends on your broker, not on MT5 itself.
Brokers may charge:
Some brokers offer commission-free MT5 accounts with slightly wider spreads, while others offer raw spread accounts with fixed commissions.
Yes — MT5 fully supports automated trading using built-in or custom Expert Advisors (EAs). In fact, MT5’s algorithmic trading environment is more advanced than MT4:
This makes MT5 especially suitable for algo traders, scalpers, and those using machine-learning or rules-based systems in the Filipino market.
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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