Global Broker governance & inquiry App

  Philippines Top 10 BSP Regulated Forex Brokers and Legal Forex Broker

  With trillions of currencies flowing around the world 24/7, the Forex (also known as Forex or FX) market is the most active market in the world. As brokers regularly lend large amounts to traders to fund their speculation, the property can quickly be created and lost.

  Forex (currency) transactions in the Philippines are popular among residents. Although recommended, Forex brokers do not need to be approved by the Securities and Exchange Commission (SEC) to accept Filipino residents as clients.

  Although the (Security and Exchange Commission) SEC advised the public that persons and entities acting as brokers, sales, or agents of these securities have no licenses to engage or deal in any manner with these securities and should therefore be avoided or ignored. That is why regulated foreign brokers have their websites stated that foreign currency, stock, and options trading involves substantial risk of monetary loss.

  The Securities and Exchange Commission is the financial regulatory body in the Philippines. Website: We recommend Philippines residents also follow the SEC on Facebook:

  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.

  What are the legal Forex Brokers in the Philippines?

  HotForex - High Leverage 1:1000

  Oanda - Best ECN Forex Broker - Trusted FX Brands Across the World

  GO Markets - Highly Regulated with Competitive Spread

  IC Markets - Top MetaTrader broker 2023

  IQ Broker - Great for all Trading Activitie

  Plus500 - Best Free FX Demo Account

  Pepperstone - Best Forex Broker Philippines 2023

  XM - Best High Leverage MT4 - MT5, Low Spread

  Tickmill - Run-of-the-mill MetaTrader broker

  Philippines Financial Regulatory:

  Philippines Securities and Exchange Commission (SEC)

  Insurance Commission (Komisyon ng Seguro)

  Bangko Sentral ng Pilipinas (Central Bank of the Philippines)

  Philippine Deposit Insurance Corporation (PDIC)

  Department of Finance (DOF)

  Philippine Stock Exchange (PSE)

  Bureau of Treasury

  Foreign Exchange Market in the Philippine

  Bangko Sentral ng Pilipinas (BSP) maintains a flexible exchange rate system. The exchange rate is determined based on the supply and demand of the forex market. The role of the BSP in the forex market is primarily to ensure the order of the market. Exchange rate market decisions are in line with the government's commitment to market-oriented reforms and outward strategies to achieve competitiveness through price stability and efficiency.

  In the Philippines, peso-dollar transactions are conducted between member banks of the Philippine Banking Association (BAP) and between these banks and BSP through the Philippine trading system “PDS”. Most BAP member banks participating in peso-dollar transactions use an electronic platform called the Philippines Dealing and Exchange Corp. (PDEx). BAP has appointed PDEx as the official service provider for US dollar (USD) / Philippine peso (PHP) spot trading (in the case of US dollars, buy and sell with immediate delivery within 1 day), and Reuters has all PDEx data. Trading via PDEx allows you to send price information and transaction confirmations almost instantly. Banks that are not PDEx, on the other hand, can continue to settle peso dell spot contracts through Reuters trading screens.

Top 10 Best Forex Brokers in Philippines 2023

Both ASIC & CYSEC Regulated Financial Provider offers You Excellent Security.

24/7 Professional and Multilingual Customer Support Easy to Reach.

A Stringently Regulated Broker, Reliable and Safe to Trade With.

Quick & Easy to Start Real Trading by Funding As Low As 5 USD.

A Multi-regulated Broker for you to Start Real Trading with a $1 Initial Deposit.

Incredibly Unlimited Leverage Offering for Asia, Rare Among Brokers.


Comparison of the Best Forex Brokers in Philippines

Forex Broker


Minimum Spread

Maximum Leverage

Minimum Deposit

Open account



From 0.0 pips
$100 AUD or equivalent
Domestic Regulation
Depends on the trading commodity
0.6 pips



Forex Trading Knowledge Questions and Answers

Is forex trading legal in the Philippines?

  The Philippines benefits from its emerging market status as a Southeast Asian country. As more and more people are interested in trading currencies, some online brokers are now accepting customers from the country.

  If you are a resident of the Philippines and are considering trading forex, the Securities and Exchange Commission of the Philippines (SEC) will be fairly against forex trading due to retailer reports of fraud and large losses. You need to know that you are in a negative position. In fact, in the last few years, the SEC has issued two notices that forex trading is illegal to discourage individuals from doing forex trading and local brokers engaging in forex trading. did.

  Forex trading may not be strictly legal in the Philippines, so you probably won't be able to find a local broker to trade your currency. Nevertheless, you may still be able to find an international online broker based outside the Philippines to trade forex.

What is Forex Regulation?

  It is a form of financial regulation specifically targeted at the foreign exchange market, which is decentralized and operates without a central exchange or clearinghouse. Due to its decentralized and global nature, the forex market is more prone to forex fraud and less regulated than other financial markets.

  However, some countries regulate Forex brokers through government and independent regulatory agencies such as the National Futures Association of the United States and the Commodity Futures Trading Commission, the Australian Securities and Investment Commission of Australia, and the Financial Behavior Oversight Agency of the United Kingdom. I am. These institutions act as supervisors of their respective markets and provide financial licenses to organizations that comply with local regulations.

  The goal of the regulation is to ensure fair and ethical business behavior. On their side, all Forex brokers, investment banks, and signal sellers must comply with the rules and standards set by Forex regulators.

How to Choose a Forex Broker as a Philippines Trader

  The Philippines is still one of the developing countries in the world. But that doesn't mean there are no opportunities for investment. On the contrary, the savviest investors are looking for ways to grow their business in places where there are few competitors.

  This is very true in Forex. The country's new and fresh market means that many brokers are gaining market share from Filipinos who are trying to make trade and money. But keep in mind that where it costs a lot, there are a lot of scams that follow. Therefore, if you are looking for a reliable Forex broker, don't forget to look for one that is regulated by BSP. Next, you need to find out if there are trading platforms offered by the broker, hidden fees and commissions, a range of accounts that meet your needs, good or bad customer service, and other additional service.

What are the top Forex Regulators?

  Although the Philippines has no forex regulator in foreign regulators that the Filipinos can trade and are mostly chosen.

  Commodities Futures Trade Commission (CFTC) - USA

  National Futures Association (NFA) - USA

  Financial Conduct Authority (FCA) - UK

  Swiss Financial Market Supervisory Authority (FINMA) - Switzerland

  Cyprus Securities and Exchange Commission (CySEC) - Cypru

  Australian Securities & Investment Commisson (ASIC) – Australia

Define General Regulation & Philippines Regulation

  The days when brokers can open offshore companies and serve them wherever they want are over. Most countries have introduced very strict regulatory frameworks, and there are few places in the world where unregulated brokers do not frown. This means that the average trader will be more secure and credible, and fraudsters will have less chance to plunder the hard-earned cash.

  The Philippines is no exception. BSP is the central bank of the Republic of the Philippines. Founded in 2003, banks have become relatively young financial institutions. The institution's primary task is to oversee the financial markets and ensure that they function smoothly, competitively, and transparently. Banks also oversee market participants servicing local citizens to regulate services. All regulated brokers must comply with the regulations set by banks when trading in the forex market and protect their clients' capital by limiting the risk of their operations. Even though regulators allow market intermediaries to trade freely in any market, BSP does not tolerate fraud, price-fixing, and money laundering schemes, but dares to penalize the brokers involved. I will impose. Therefore, Filipino traders should be reassured by BSP-regulated brokers.

What are the best Forex Trading Platforms?

  MetaTrader4 (MT4): is the most popular retail platform for currency trading. MetaQuotes created the trading platform in 2005 and has over 85% penetration from worldwide forex brokers.

  MetaTrader5 (MT5): is a multi-asset platform that allows trading Forex, stocks, and futures. It offers superior tools for comprehensive price analysis, the use of algorithmic trading applications (trading robots, Expert Advisor), and copy trading.

  cTrader: is the third most popular forex software and is offered by a wide number of retail foreign exchange brokers. While no exact market share statistics have been published, below shows the popularity of the websites and app downloads of the three most popular platforms.

  Markets is a proprietary multi-asset trading platform, a one-stop solution for all your trading needs. The platform is part of an FTSE 250 company listed on the London Stock Exchange (LSE).

  NinjaTrader: s an advanced charting forex software package created in 2004.

  eSignal: is one of the oldest trading platforms on the market.

  ThinkOrSwim: is a desktop, mobile, and web compatible trading platform for ETFs, forex, futures, stocks, and options.

What are the benefits of Forex Trading Compared to Stock Market Trading?

  It's a Large and Global Market

  It's Good for Beginner

  You can Trade 24 Hours a Day

  Here are Low Transaction Cost

  You can Benefit from Leverage

  It's a Market with High Liquidity

  Volatility of the Forex Market

  You can Buy and Sell Currency Pairs Depending on the Market

  It's well Regulated

Why Forex Education is Important, especially traders in the Philippines

  After graduating from high school or college, you may be wondering why this additional education is needed. Forex trading as a whole is a real business. You must have an ideal education. You need to develop your skills every day, and only experienced trainers can help you with it.

  If you need to invest and contact a professional trader, you must first complete Forex education/training.

  In addition, the market is very eccentric and even the best traders encounter serious misfortunes, so it is important to consider the psychology of trading.

  Forex training helps you to understand the basic principles and phrases, but it also teaches you how to put together your framework for training and balancing in trading. There are several courses and educational courses that you can be guided by an experienced teacher to learn your skills.

What account types do mostly regulated brokers have?

  Suppose you have $ 200 you want to invest in a currency, but you wonder if that's enough. Many brokers offer different account levels depending on the size of your capital, and $ 200 is not enough from the beginning.

Micro Account

  Most brokers will be able to start at as little as $ 100, and some will start trading for $ 50. In this case, you are trading a micro lot and its minimum size is $ 1000.

Mini Account

  If you have an investment of $ 1000 or more, a mini account is probably the best bet. The mini lot is currently a $ 10,000 transaction and the pip price is around $ 1.

Standard Account

  Traders with capital over 10,000 can open a standard account and trade standard lots. The standard lot size is 100,000 items. Of course, to ensure risk control, it would be better to have more money thanks to 50,000 to trade standard lots.


  Filipinos are not governed by the authority to not do Forex Trading although SEC was imposing that trading forex in the Philippines is considered a high-risk investment due to no regulation imposed and no local broker, broking in the Philippines. A lot of sales agent, brokers introduce their Forex trading company that will scam Filipinos who doesn't know where to start. That is the main reason why Filipinos must avoid trading forex in the Philippines.

You Also Like:

How to Control Drawdown for Greater Forex Profits?

Best Forex Brokers for Beginners in Nigeria 2023

Differences between Bullish and Bearish Markets in Forex Trading

What Makes A Good Day Trader? Some Excellent Traits to Share

Differences between Dealing Desk & No Dealing Desk Forex Brokers

How to Use Currency Pair Correlations in Forex trading?

Forex Day Trading VS Forex Scalping: Which One to Choose?

How to Hedge Forex Positions? Some Relevant Strategies to Share.

Can I Trade Forex without Stop-Loss? Here Lets’ Discuss

Beginners’ Guide to Forex Exotic Currency Pairs

Forex Market Hours: What is the Best Time to Trade Forex?

Best US Forex Brokers for 2023

What is Forex Technical Analysis? Pro & Cons Revealed

What Is A Swap in Forex Trading? Some Fascinating Facts You May Like to Know

Forex Trading Scam? Is OmegaPro Safe to Trade with?

Pips in Forex Trading?

Is T4Trade Still Trustworthy?

Best Forex Brokers for Beginners in Nigeria 2023

Best Forex Brokers With Low Commissions for 2023

Best Micro Account Forex Brokers for 2023

Best Forex Brokers with Low Minimum Deposit


Best Forex Brokers with Islamic Accounts 2023

Best Forex Demo Account Brokers for 2023

Best Copy Trading Forex Brokers in 2023

Best Managed Forex Accounts for 2023

Best Forex Market Maker Brokers 2023

Best Forex Brokers in Vietnam for 2023

Best Forex Social Trading Platform in 2023

Best Forex Trading Apps in 2023

Best MT4 Forex Brokers in 2023

Best Forex Trading Platform for Beginners in Australia

Best Forex Brokers for Spread Betting 2023

Best Forex Brokers for Algo Trading 2023

Best Forex Brokers in Philippines 2023

BSP Regulated Forex Brokers in Philippines for 2023

Best MT5 Forex Brokers in 2023

Best FSCA/FSB Regulated Forex Brokers in South Africa

Best Low Spreads Forex Brokers for 2023

Best Scalping Forex Brokers for 2023

Best Forex Brokers in UAE, Dubai for 2023

Best Forex Brokers in Germany for 2023

Best Forex Brokers in Mexico for 2023

Best Forex Brokers in Canada for 2023

Best Forex Brokers in Malaysia for 2023

Best Forex Brokers in Europe for 2023

Best Forex Brokers in Thailand for 2023

Best Forex Brokers in Indonesia for 2023

Best Forex Brokers in Nigeria for 2023

Best Forex Brokers in India for 2023

10 Best Australian Forex Brokers 2023

Best Forex Broker for Beginners in the Philippines 2023

Best Forex Trading Software for 2023

Best Forex Brokers in South Africa

Best High Leverage Forex Brokers for 2023

Best Forex Brokers for Beginners in 2023

Best Forex Brokers in the World for 2023

Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;+44-7517747077
License or other information error corrections, please send the information