Best Forex Brokers in the Philippines

HF Markets was founded in 2010. The broker consists of a group of well-regulated brokers operating globally and serving more than 2.5 million trading accounts with a growing customer base. International traders, including those in the Philippines, can access 2000:1 leverage to trade currency pairs. It’s important to note that while high leverage can benefit scalpers and day traders, it also comes with increased risks. 

Some traders lean towards active trading, while others prefer a more passive approach. To cater to these diverse needs of its clients, HF Markets offers 5 different account types. For more details about each account, let’s take a look at the comparison table. 

Contract size on Cent accounts is very small (1 lot = 1000 units), which enables traders to use tiny capital to participate in live trading. The Cent account type is created for beginners and professional traders that wish to test their trading strategies in a live environment. 

Zero account holders experience 0 spread markups on EUR/USD. Instead, traders are charged with commissions. The account type is ideal for active traders such as algorithmic traders, high frequency traders, and scalpers. Pro, Premium, and Top-up bonus accounts are better suited for position traders. Let’s take a closer look at each account type below. 

Founded in 2014, Tickmill is a highly reputable Forex and CFD broker serving over 270, thousand clients worldwide. The broker offers access to various asset classes, including Forex, CFDs on Stocks, Indices, Commodities, Bonds, and Cryptocurrencies as CFDs.

Tickmill consists of a group of well-regulated Forex and CFD brokers. The Filipino traders can receive financial services from the broker’s asian branch. Tickmill Asia Ltd is regulated by the Financial Services Authority of Labuan Malaysia (License Number: MB/18/0028 and Registered Office: Unit B, Lot 49, 1st Floor, Block F, Lazenda Warehouse 3, Jalan Ranca-Ranca, 87000 F.T. Labuan, Malaysia).

There are 3 account types available for traders. Each account offers unique trading conditions. Pro and VIP accounts offer spreads from 0 pips on EUR/USD pairs, however, they charge traders with commissions. The spread markup-free accounts are ideal for scalpers, day traders, arbitrage traders, high frequency traders, and algorithmic traders. 

In addition, there is an account for swing traders and position traders. Classic account charged 0 commissions. However, spreads on major pairs start from 1.6 pips, which is high compared to other brokers. 

XM is a well-respected brand in the financial industry. The broker was founded in 2009 and since then has expanded globally. Currently the broker services more than 5 million active traders from more than 190 countries. Over 1200 Forex and CFDs are available via MetaTrader trading platforms at XM. 

International traders, including traders from the Philippines, can open live trading accounts with XM global. XM Global Limited, authorized and regulated by the Financial Services Commission (FSC) (license number 000261/397).

XM offers 3 Forex and CFD trading accounts and 1 Shares account to its clients. The Shares account is for investors looking for ways to invest in company stocks long term. The Forex and CFD accounts are built for market speculators. Let’s take a closer look at the comparison table for more details. 

Established in 2006, AvaTrade has amassed a customer base exceeding 300,000 active traders. AvaTrade is known for its well put together social trading infrastructure. The broker offers dedicated trading platforms and web pages for copy trading, such as AaSocial, and AvaTradeGo. In addition, a full set of MetaTrader platforms are also available.

The broker consists of multiple brokers under the AvaTrade brand regulated in multiple jurisdictions. Traders from the Philippines can open live accounts with AvaTrade’s international branch, AvaTrade Markets Ltd. which is regulated by the B.V.I Financial Services Commission (FSC BVI).

AvaTrade provides dedicated account types for retail, professional and MAM (Multi Account Manager) traders, along with the option of swa-free Islamic trading accounts. Demo accounts are also available, which help beginners learn how to use trading platforms. In addition, professionals are also actively utilizing demo accounts for strategy building and testing. 

The broker offers a range of over 1250 tradable instruments across multiple asset classes such as Forex, Stock CFDs, ETFs, Commodities, Indices, and Cryptocurrencies. It’s worth noting that an inactivity fee of 50 account base currency per month is charged for more than 3 months of inactivity. In order to avoid such charges, traders can either stay active or withdraw funds when deciding to halt trading. 

FP Markets is an Australian broker founded in 2005. The broker offers access to the most popular MetaTrader platforms, a wide range of instruments, and professional customer support. 

FP Markets is an international broker regulated in multiple jurisdictions. Residents of the Philippines, as well as international traders, are served by FP Markets LLC. Which is registered with FSA of St. Vincent and the Grenadines, with registration number 126 LLC 2019.

FP Markets offers 2 live account types. Standard account is created for beginner traders, position traders, and swing traders. The Raw account type is built for intraday traders, high frequency traders, algorithmic traders, scalpers, news traders, and arbitrage traders. Let’s take a closer look at each account type.