The ForexBrokers.com annual forex broker review (three years running) is the most cited in the industry. With over 60,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.
Trading forex (currencies) in the Philippines is popular among residents. While recommended, forex brokers are not required to become authorised by the Securities and Exchange Commission (SEC) to accept residents of the Philippines as customers.
The Securities and Exchange Commission is the financial regulatory body in the Philippines. Website: http://www.sec.gov.ph. We recommend Philippines residents also follow the SEC on Facebook: https://www.facebook.com/Philippine-Securities-and-Exchange-Commission-1667835130107172/.
The SEC - Philippines was established in 1936 and is responsible for regulating the securities industry in the Philippines. For a historical breakdown, here's a link to the Securities and Exchange Commission webpage on Wikipedia.
Best Forex Brokers Philippines
To find the best forex broker in the Philippines, we created a list of all brokers that list the Philippines as a country they accept new customers from. We then ranked brokers by their Trust Score Ranking.
Here is our list of the best forex brokers in the Philippines.
- IG - Best Overall, Most Trusted
- Swissquote - Best Banking Services
- Saxo Bank - Best Web Platform, Research
- FOREX.com - Great All-around, Low Costs
- City Index - Well-rounded Offering
- XTB - Great Customer Service, Easy to Use Platform
Philippines Forex Brokers Comparison
| Forex Broker | Accepts PH Residents | Average Spread EUR/USD - Standard | Minimum Initial Deposit | Trust Score | Overall | Visit Site |
|---|---|---|---|---|---|---|
| IG | Yes | 0.750 | £250.00 | 99 | Visit Site | |
| Swissquote | Yes | N/A | €500.00 | 99 | N/A | |
| Saxo Bank | Yes | 0.900 | $2,000.00 | 98 | N/A | |
| FOREX.com | Yes | 0.770 | $250.00 | 91 | Visit Site | |
| City Index | Yes | 0.770 | £100.00 | 91 | N/A | |
| XTB | Yes | 0.900 | $250.00 | 90 | N/A | |
| Markets.com | Yes | 1.900 | $100 | 90 | N/A | |
| easyMarkets | Yes | 1.800 | $100.00 | 81 | N/A | |
| Pepperstone | Yes | 1.160 | $200.00 | 79 | N/A | |
| LCG | Yes | 1.450 | $0.00 | 79 | N/A | |
| XM Group | Yes | 1.600 | $5-100 | 78 | N/A | |
| ThinkMarkets | Yes | N/A | $250.00 | 77 | N/A | |
| Vantage FX | Yes | 1.400 | $100 | 74 | N/A | |
| IC Markets | Yes | 1.100 | $200 | 72 | N/A | |
| Alpari | Yes | 0.92 | $100.00 | 69 | N/A | |
| ForexTime | Yes | 0.80 | $100 | 69 | N/A | |
| iTrader | Yes | 0.700 | $250 | 68 | N/A | |
| Instaforex | Yes | N/A | $1 | 66 | N/A | |
| FX Choice | Yes | N/A | $100 | 54 | N/A |
How to Verify SEC Authorisation
Unfortunately, there is not a list of authorized forex brokers, however, residents can currently view a list of registered firms on the SEC website, as well as contact an office to verify the authorisation of a broker.
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Methodology
For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers. Each broker was graded on 81 different variables and, in total, over 60,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.
