15 Best BSP Regulated Forex Brokers in the Philippines

Choose your quick section of our best BSP Regulated Forex Brokers in the Philippines below.

Our 10 Best Handpicked BSP Regulated Forex Brokers in the Philippines Revealed:

• ✔️Oinvest
• ✔️XM Group
• ✔️Pepperstone
• IQ Option
• HotForex
• FBS
• FXCM
• OANDA
• Forex Time (FXTM)
• FP Markets

The BSP is tasked with the responsibility to ensure good, fair, and transparent conditions in the financial market. The BSP is mainly concerned with the financial stability of the country and plays an important role in the Forex trading world. Here is an overview of the Best BSP and Globally Regulated Forex Brokers and Trading Platforms available to local investors.

Oinvest

Oinvest is a CFD broker which offers users the ability to trade on multiple asset classes such as Forex, Stocks, Indices, Commodities and Cryptocurrencies on the MetaTrader 4 trading platform for Windows Desktop and Android and iOS mobile operating systems. Oinvest does claim to be regulated by the Seychelles Financial Services Authority (SFSA) through their company name Aronex Corporation Ltd, yet neither entities are listed as an approved entity on the regulator’s register but they do have a licencing number and certificate.

Pros and Cons

Clients can choose to trade CFDs on a wide variety of different asset classes including 47 Currencies, 33 Cryptocurrencies, 15 Indices, 17 Commodities, 79 US Stocks, 76 European Stocks and 78 Australian Stocks.

Trading Benefits

Customer support is available Monday to Friday from 3am to 2pm GMT via Live Chat, Phone, Email and a Web Contact Form.

XM Group

XM Group (XM) is a group of regulated online brokers regulated by the Cyprus Securities and Exchange Commission.

Pros and Cons

XM offers traders more than 1000 financial instruments to trade on both the MT4 and MT5 platforms, including Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.  Forex trading is available on over 55 pairs, including the major USD, GBP, EUR and JPY pairs.  Traders must take note that XM does not offer binary options or futures.

Trading Benefits

Customer Service is available via live chat, Phone and email support.

Pepperstone

Pepperstone was founded in 2010 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the UK’s Financial Conduct Authority (FCA).

Pros and Cons

Trading platforms on offer include MetaTrader 4,  MetaTrader 5 and cTrader. All three FX trading platforms come with a free demo account which will allow traders to test out the forex broker and platform for 30 days.

Trading Benefits

Pepperstone offers 24/5 multiple language support via email, phone and live chat.

IQ Option

IQ Option is a broker developed under the IQ Option Europe company which was founded in 2013. IQ Option contains a CySEC license Cyprus Securities and Exchange Commission from Cyprus, with permission to provide its financial services within the European Economic Area zone, with several licenses from other EU local jurisdictions. IQ Option offers its clients services in binary options, stocks and shares, currencies, and ETF trading.

Pros and Cons

IQ Option provides clients with a proprietary platform which is also used for CFDs and for binary options trading. Traders can also install the mobile trading app which is provided free of charge. The mobile trading app has been designed specifically for use on smartphones and mobile devices and allows traders to check their account status, keep updated with all the developments in the market as well as to execute trades.

Trading Benefits

The IQ Options trading platform and website are available to traders in thirteen different languages and allows traders to choose the currency to trade with. The selections of currencies are: GBP, RUB, EUR, IDR, USD, MUR, and Yuan.

Customer service is available via email, live chat or the telephone.

HotForex

HotForex was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

Pros and Cons

The HotForex MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HotForex asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar.  The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Trading Benefits

Customer support is available via phone and email.

FBS

FBS is a Forex and CFD broker which is authorised and regulated by the International Financial Services Commission (IFSC) of Belize and the Cyprus Securities and Exchange Commission (CySEC).

Pros and Cons

FBS offers users the option to trade on Forex, Indices, Stocks, Metals and Energies across the MetaTrader 4, MetaTrader 5 and FBS Trader trading platforms .

Trading Benefits

Customer Support is available 24/7 via a Call-back service, online Live Chat, Telegram, Viber and Facebook Messenger.

FXCM

Forex Capital Markets Limited or FXCM is a Spread Betting, CFD and Forex trading broker, authorised and regulated by the UK Financial Conduct Authority under the Forex Capital Markets Limited and is part of the Leucadia Company, which offers users the ability to trade on Forex, Forex Baskets, Indices, Commodities and Crypto on its own proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinjaTrader and ZuluTrade.

Pros and Cons

FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader and Professional Clients. A Free Demo account is also made available.

Trading Benefits

Customer Support is available via Live Chat, Phone, Email and SMS.

OANDA

OANDA is a globally regulated Forex and CFD broker which also provides corporate Forex solutions and currency conversion. Users have the choice to trade on Forex, Indices, Metals, Commodities and Bond CFDs on the broker’s own proprietary trading platform for desktop, web and mobile, as well as on MetaTrader 4.

Pros and Cons

OANDA is the most Regulated Forex Broker and operate across six of the most credible authorities.

Trading Benefits

Customer support is available via a FAQ section, a OANDA Virtual Assistant and phone.

Forex Time (FXTM)

FXTM or ForexTime was founded in 2011 and is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.  FXTM offers users seven different accounts types where the execution method, range of markets, available platform, and commissions and fees may vary.  Three accounts are offered under the Standard category.  Forex Time (FXTM) is a MetaTrader broker which offers forex and CFD traders multiple account options for both MT4 and MT5 platforms.

Pros and Cons

FXTM provides research in the form of daily technical and fundamental news analysis provided by an in-house team of analysts.

Trading Benefits

Customer Service is available via phone, email, online chat options – WhatsApp, live chat, Viber, Telegram or Messenger.

FP Markets

FP Markets is a global, online broker regulated by the Australian ASIC and the Cypriot CySEC which was founded in 2005 and offer Forex trading and has a head office situated in Australia. When starting off with FP Markets traders will need to make a minimum deposit of $100 and a demo account is on offer with a wide variety of instruments and currency pairs on offer.  Over 100 instruments and over 60 currency pairs in total are on offer, on the popular MT4 forex trading platform.  FP Markets also offers traders mobile apps for Android and iOS.

Pros and Cons

Trading benefits

All accounts support a wide range of languages including English, Spanish, Portuguese, Romanian, Bulgarian, Arabic, Russian, French, Italian, Greek, Philippines, Latvian, Polish, Indonesian, Thai, Malay, German, Vietnamese. Customer Service is available via email, phone and live chat.

AvaTrade

AvaTrade is an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa by ASIC, CySEC and FCA.

Pros and Cons

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and a demo account is available for those who want to get acquaint with the popular MT4 forex trading platform.  AvaTrade also offer mobile apps for Android and iOS.

Trading benefits

Customer support is available by email, phone, or live chat.

HYCM

HYCM is an online broker which was founded in 1977 and offers Forex and CFDs trading on the popular MT4 forex trading platform plus mobile apps for Android and iOS.

Pros and Cons

Traders starting off with HYCM will need to make a minimum deposit of at least $100 and have the choice to sign up for a demo account perfect for various levels of traders, experienced or novice. A wide variety of instruments and currency pairs are available for trade:

• Over 100 instruments
• Over 40 currency pairs

Trading Benefits

HYCM customer service is available through WhatsApp, Skype, Viber, Telegram Instant messaging services, Facebook Chat and Phone – 24/5.

Alpari

Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms.  Alpari is regulated by the FSC.

Pros and Cons

Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker.  The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.

Trading Benefits

Customer Service is available via live chat, email and phone service.

OctaFX

OctaFX is an online broker which was founded in 2011, offering Forex trading.  As OctaFX is regulated by the Financial Conduct Authority (FCA), each new client must pass a few basic compliance checks when signing up for an account.  OctaFX has won numerous industry awards over the course of 9 years and is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5.

Pros and Cons

OctaFX provides an array of educational tools to assist beginner traders to become more experienced and even professionals in trading.

Trading Benefits

Customer Support is available 24/5 via Live Chat, Email, Phone, WhatsApp and an Enquiry Form across multiple languages including English, Indonesian, Hindi, Chinese and more.

Exness

Exness is authorised by the Financial Services Authority (FSA) of Seychelles and was founded in 2008. Traders have the ability to trade on Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices on the MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS and the Exness Web Terminal.

Pros and Cons

Exness offers traders 5 different trading accounts to choose from and over 105 different instruments to trade, including over 103 currency pairs.

Trading Benefits

Exness supports a wide range of languages including English, Russian, Chinese, Urdu, Malay, Indonesian, Hindi, Arabic, Bengali, Farsi, Tamil, Vietnamese, Thai, Korean, and Spanish via Live Chat and Email.

The BSP and SEC – Regulation

BSP responsibilities involve the streamlining of the money exchange process and other financial dealings which form a  part of the retail trading industry in the Philippines. The BSP not only determines the exchange rate policy for the Philippine peso (PHP) but the entity also manages the country’s currency reserves. Aside from the BSP, Philippine Forex Brokers fall under SEC regulation. SEC or the Securities and Exchange Commission has a number of responsibilities including to safeguard the stability and integrity of the country’s financial markets. There are a certain number of rules and requirements a regulated entity will be required to comply with. SEC has the power to issue licences or revoke, cancel , terminate or suspend them.

Trading in the Philippines – A Traders Overview

When choosing the Best BSP Regulated Forex Brokers, we spoke to one of the people who managed to make the profits in the Philippines.  Alexanđê Văn Nguyễn is a Vietnamese Investor who originates from Vietnam.

Khi chọn Nhà môi giới ngoại hối theo quy định của BSP tốt nhất, chúng tôi đã nói chuyện với một trong những người đã quản lý để tạo ra lợi nhuận ở Philippines. Alexanđê Văn Nguyễn là Nhà đầu tư người Việt Nam đến từ Việt Nam. Alexanđê Văn Nguyễn có thể không được công chúng biết đến nhưng tài buôn bán của anh thực sự là thứ của huyền thoại. Theo Alexanđê, một trong những bước đầu tiên và chính cần thực hiện là “đi học Trường Giao dịch Ngoại hối”.

“Điều này không có nghĩa là một túi sách hoặc sách văn bản. Điều này có nghĩa là đọc tài liệu trực tuyến – dịch nó nếu cần! Các nhà giao dịch cần phải vượt qua rào cản ngôn ngữ trong Thị trường Ngoại hối vì không phải tất cả các Nhà môi giới sẽ cung cấp dịch vụ của họ bằng ngôn ngữ mẹ đẻ của nhà đầu tư. Bạn của tôi, nếu bạn muốn thành công trong đầu tư – bạn phải hiểu chính xác những gì bạn đang tham gia trước khi đầu tư bất kỳ số vốn nào ”.

Alexanđê và anh trai của mình đã tham gia vào thế giới Giao dịch Ngoại hối vào cuối năm 2000 sau khi nghe về huyền thoại “mrs.watanabe” ở Nhật Bản. Nếu một bà nội trợ có thể thành công, thì họ cũng vậy! Brother đã tìm kiếm tất cả các nhà môi giới hàng đầu, nơi các trang web cung cấp cho họ tất cả nội dung giáo dục cần thiết để tạo ra một khởi đầu sáng suốt trên thị trường tài chính. Anh em đã bắt đầu kinh doanh tiền tệ trước khi đưa hàng hóa vào danh mục đầu tư ấn tượng của họ. Ngoài tiền tệ, có nhiều loại hàng hóa trong Tự nhiên có sẵn để giao dịch. Điều này bao gồm nông nghiệp (trừ hành), kim loại như đồng và năng lượng. Theo “Cán cân”, hàng hóa được phân loại là “tài sản cứng mà bạn có thể chạm vào”.

BSP Regulated Forex Brokers and Trading Platforms

In the strict sense of the world, it is not possible to choose a BSP regulated Forex Broker as firms in the Philippines are actually regulated by the SEC. There are no restrictions to prevent traders in the Philippines from choosing any broker they want and multiple globally regulated Forex Brokers accept local investors.

Conclusion

Any Broker who falls under the regulatory authority of SEC and BSP, can be seen as a safe bet when choosing a firm with which to investment. The Philippines , officially known as the Republic of the Philippines is an archipelagic country situated in Southeast Asia. The Philippines consists of approximately 7,641 islands and the local economy has produced an estimated gross domestic product (nominal) of $356.8 billion.

The Countries primary exports include  electronic products, transport equipment, garments, copper products, petroleum products, and much more. Major trading partners include the United States, Japan, China, Singapore, South Korea, the Netherlands, Hong Kong, Germany, Taiwan, and Thailand.

FAQs

What is BSP?

BSP stands for Bangko Sentral ng Pilipinas, a financial institution which assists the Securities and Exchange Commission (SEC) in regulating brokers in the Philippines.

What does BSP do?

The BSP helps the SEC to keep the best BSP regulated brokers under control. This will include managing money exchange processes with currencies from traders in Thailand and Indonesia.

How do I make a complaint to BSP?

Investors can head over to the BSPs official website to find contact information for email, telephone and physical post.