Best Forex Brokers in the Philippines for 2026

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

February 10, 2026

Steven Hatzakis

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. He is a forex industry expert and an active fintech and crypto researcher.

See full bio

ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. Here's 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/.

Securities and Exchange Commission Phlippines

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 brokers 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 Overall ranking.

Here is our list of the best forex brokers in the Philippines:

Philippines Forex Brokers Comparison

Compare Philippines authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by my overall rankings of the top forex brokers.

Company	Accepts PH Residents	Average spread (EUR/USD) - Standard account	Minimum Deposit	Overall Rating
IG	check	0.91 info	£1
Interactive Brokers	check	0.226 info	$0
FOREX.com	check	1.00 info	$100
XTB	check	0.92 info	$0 info
OANDA	check	1.68 info	$0
AvaTrade	check	0.93 info	$100
XM Group	check	2 info	$5
Pepperstone	check	1.1 info	$0
FP Markets	check	1.3 info	$100 AUD
FxPro	check	1.6 info	$100
IC Markets	check	0.62 info	$200
Tickmill	check	1.70 info	$100
HYCM (Henyep Capital Markets)	check	1.3 info	$20
HFM	check	1.8 info	$0
ActivTrades	check	1.08 info	$0
Questrade	check	N/A	$250
Eightcap	check	1.0 info	$100
IUX	check	0.86 info	10

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Winners Summary

Best forex broker in Philippines - IG

Company	Accepts PH Residents	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
IG	check		£1	0.91 info

IG is my top pick for forex traders in the Philippines in 2026. Founded in 1974 and publicly traded on the London Stock Exchange (LSE: IGG), IG is regulated in eleven Tier-1 jurisdictions and has earned our 2026 Annual Award for #1 Overall Broker based on its robust platforms, extensive market access, and reliability.

Philippine residents can access IG’s services through its offshore entities, which are regulated under the UK’s FCA or ASIC in Australia, depending on account setup. While IG does not currently hold a license with the Philippine SEC, it is considered a trusted global broker that complies with top-tier regulatory standards and serves Filipino traders under international guidelines.

Platform: IG’s proprietary web and mobile platforms are among some of the best in the industry. The browser-based trading platform is fast and user-friendly, with powerful charting, integrated Reuters news, and customizable watchlists. The IG Trading app delivers an easy-to-use mobile experience with the same professional-grade tools as the web platform. MetaTrader 4, ProRealTime, and API connectivity are also available, making IG a strong fit for beginner and advanced traders.

Pricing: IG’s pricing model in the Philippines is competitive, with spreads on major pairs like EUR/USD averaging 0.69 pips during peak trading hours, though they can widen during less liquid times. While IG primarily uses a spread-only model on standard CFD accounts, traders seeking lower costs can access its DMA-based Forex Direct account, which features tighter spreads plus a commission starting at $60 per million traded. High-volume traders benefit from a tiered rebate program that can reduce costs further. The minimum deposit for most accounts is around $300 USD, while the DMA account requires at least £1,000.

Best for professional traders - Interactive Brokers

Company	Accepts PH Residents	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
Interactive Brokers	check		$0	0.226 info

Interactive Brokers (IBKR) is a standout option for professional traders in the Philippines who demand institutional-grade tools and global market access. Founded in 1977 and publicly traded on NASDAQ (IBKR), the broker is regulated in nine Tier-1 jurisdictions.

Filipino clients are served through Interactive Brokers’ offshore entities, regulated by bodies like the UK’s FCA or ASIC. While it is not locally regulated by the Philippine SEC, IBKR is a globally trusted name and provides robust protections under international financial laws.

Platform: IBKR’s Trader Workstation (TWS) is built for experienced traders and gives you a lot of flexibility in how you trade. From multi-asset trading and real-time risk management to algorithmic strategies and advanced order types, TWS has versatility. The newer IBKR Desktop and IBKR Mobile platforms also offer more approachable interfaces while retaining much of the broker’s core functionality.

Pricing: Forex spreads are tight, with EUR/USD averaging 0.2 pips, but IBKR operates on a commission-based model. Commissions start at $2 per side, and this can add up for smaller trades. Unless you're trading a standard lot (100,000 units) or more, the minimum commission may impact cost-efficiency. That said, there’s no minimum deposit, and high-volume traders can benefit from volume-based pricing discounts.

Interactive Brokers research Traders Insight daily analysis article detail

Great for educational content - FOREX.com

Company	Accepts PH Residents	Overall Rating	Minimum Deposit	Average spread (EUR/USD) - Standard account
FOREX.com	check		$100	1.00 info

FOREX.com is an excellent choice for Filipino traders who value education and a solid all-around trading experience. Founded in 1999 and part of the publicly traded StoneX Group (NASDAQ: SNEX), FOREX.com is regulated in multiple Tier-1 jurisdictions, including the UK FCA, CFTC, and ASIC, and accepts clients from the Philippines under international oversight.

The broker stands out for its dedication to trader education. Its Trading Academy is one of the best I’ve seen, offering structured learning paths, quizzes, progress tracking, and content tailored for beginner, intermediate, and advanced traders. I awarded it #1 for Interactive Educational Experience the year it launched, and it’s only improved since then.

Platform: FOREX.com supports MetaTrader 4, MetaTrader 5, and its own proprietary web and mobile platforms. The platforms are intuitive and well-equipped, offering powerful charting, integrated research, and trading tools like Performance Analytics, which helps traders analyze their own behavior and improve strategy.

Pricing: FOREX.com offers both spread-only and RAW Spread accounts. The Standard account has spreads around 1.4 pips on EUR/USD, while the RAW account features tighter spreads (as low as 0.2 pips) plus a commission of $6 per round-turn. The minimum deposit is $100 USD, making it accessible for newer traders. Overall, FOREX.com is a great all-around broker that delivers on education, platform quality, and regulatory credibility.

FOREX.com mobile app trading from charts.

About the SEC Philippines

The Securities and Exchange Commission (SEC) Philippines is the principal regulator for the financial markets in the republic of the Philippines. The SEC Philippines oversees local capital markets, including broker-dealers, investment companies, lending and financing firms, financial institutions, and other licensed intermediaries. There are over 351,000 stock corporations, as per the SEC’s latest annual report. While forex and CFD trading is not regulated in the Philippines, the SEC regulates the following types of entities:

Stock corporations
Non-stock corporations
Partnerships
Securities brokers and dealers
Dealers in government securities
Investment houses
Transfer agents
Underwriters of securities
Investment company advisers
Financing companies
Lending companies
Mutual fund/ Investment companies
Mutual fund/distributors
Issuers of unlisted securities
Issuers of proprietary/non-proprietary securities
Exchange-traded funds
Publicly-listed companies
Public companies
Self-regulatory organizations (SROs)
Accredited surety companies
SRO exchanges
Clearinghouses
Securities depositories
Operators of alternative trading systems (ATSs)
Registrars of qualified buyers

FAQs

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, or contact an office to verify the authorisation of a broker.

Is forex trading legal in the Philippines?

The exchange of local currency is regulated under Circular Number 1389 and applicable to authorized agent banks (AAG), but retail forex trading is not legal in the Philippines nor are any local brokers licensed to offer forex and CFDs, according to the local financial market’s regulator (the SEC Philippines). The SEC Philippines has repeatedly advised the public to stop engaging in foreign exchange trading and warned against trading CFDs and other off-exchange derivatives offered by international brokers.

This highly conservative stance against forex is representative of the government's long-standing view that margin-based derivatives such as forex and CFDs are not suitable investments. The government's position is meant to protect local residents from losing money to scam forex brokers. In a 1993 case brought to the Supreme Court of the Philippines, Onapal vs. Court of Appeals, the court ruled that commodity futures contracts (including forex and CFDs) are considered to be “purely gambling and declared null and void by law.” This ruling is referenced in an SEC Advisory, dated November 2013, and the SEC’s latest advisory regarding the illegality of forex in the Philippines was in October 2018.

Do forex traders pay tax in the Philippines?

Yes, citizens and residents of the Philippines must declare all of their worldwide income, including income from any forex brokerage accounts with international brokers. If you are not a resident or citizen of the Philippines, your countries of residence and/or citizenship will have their own tax obligations.

The Bureau of Internal Revenue of the Philippines further states that in the event of double taxation from other countries and/or potential tax treaties, residents are still obliged to report all foreign-sourced income to the Philippines government. In cases where there are tax treaties, residents can apply for a Tax Residency Certificate using their Tax Identification Number (TIN).

Note: If you are a resident or national citizen of the Philippines, be sure to contact a local tax accountant to learn how the local tax laws apply to you.

Who is the best forex broker in the Philippines?

IG is my top choice among forex brokers that hold regulatory licenses around the world, and accept residents of the Philippines. IG is a highly trusted, publicly-traded brand that operates a bank and ranks at the top across nearly every category important to forex traders. That said, it’s important to note that the SEC Philippines warns its residents against forex trading, as it is not a locally regulated activity. To learn more about why I've rated IG so highly for so many years, check out my full-length IG review.

Article Resources

Securities and Exchange Commission Website, SEC Registered Firms Bureau of Internal Revenue of the Philippines

Compare Philippines Brokers

FxPro vs IUX Pepperstone vs Tickmill Tickmill vs HFM HFM vs Tickmill OANDA vs FOREX.com IUX vs IUX FP Markets vs ActivTrades FOREX.com vs FP Markets ActivTrades vs HFM IG vs ActivTrades Eightcap vs FxPro HYCM (Henyep Capital Markets) vs HYCM (Henyep Capital Markets)

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2026 Review Methodology

At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.

Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.

All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.

Read our full explanation and accounting of our research and testing process to 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. Read more on forex trading risks.

About the Editorial Team

Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).

John Bringans is the Managing Editor at ForexBrokers.com. An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

Joey Shadeck is a Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.