Forex trading in the Philippines, the SEC position first (2026)

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The rules for forex trading in the Philippines

The SEC, the securities regulator, said in a notice of 30 October 2018 that forex trading through online platforms is not allowed, and that no firm has permission to offer it to the public. The central bank, the BSP, covers banks and money changers, not retail forex brokers. That position has not changed. On 7 November 2025 the SEC ordered XM to stop. In January 2026 it put out notices against Exness and HFM. In December 2025 the telecoms regulator, the NTC, blocked 50 trading platforms at the SEC's request.

No broker in our catalogue holds a Philippine licence for retail forex, because no such licence exists. The brokers below serve Filipino traders from companies licensed abroad. You get no local leverage cap and no fund that pays you back. There is no Philippine regulator you can complain to. People who promote platforms with no licence can be held liable under section 28 of the Securities Regulation Code, the main securities law.

We found no tax office ruling on how retail forex profits are taxed. Income from anywhere in the world is taxed at 0% to 35%, and that may apply. Traders who use offshore brokers fund them through GCash, Maya, InstaPay, PESONet or cards.

Sources: SEC advisory of 30 October 2018 on online forex trading. SEC cease and desist order against XM, 7 November 2025. SEC advisories on Exness and HFM, January 2026. Securities Regulation Code, section 28. Checked 25 September 2026.

Expert-tested, regulated platforms you can trust

Overview

Updated · Ranking rebuilt from the latest broker ratings

You want a forex broker that fits how you trade and the rules where you live. If you are in the Philippines, this page helps you compare regulated platforms that serve local residents, with a focus on platform tools, costs, funding methods, and support. We explain what to look for and point out risks so you can decide with confidence. Trading CFDs involves risk. Below, you can review our curated shortlist and use the comparison tool to check features side by side. BrokerCatalogue is about making your choices clear. All information here is for general informational purposes only and should not be considered financial, legal, or investment advice.

Broker of the Month

FOREX.com 10.0
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The Top 10 Forex Brokers

At a glance

#BrokerRatingRegulationFoundedPlatforms
1FOREX.com10/10ASIC, CFTC, FCA2001MT4, MT5, Proprietary
2Interactive Brokers10/10ASIC, CBI, CFTC1977Proprietary
3Plus50010/10ASIC, CFTC, CySEC2008Proprietary
4Swissquote10/10CSSF, DFSA, FCA1996MT4, MT5, Proprietary
5tastytrade9.1/10CFTC, NFA2017Proprietary
6FP Markets9/10ASIC, CMA, CySEC2005cTrader, MT4, MT5
7JustMarkets9/10FSA Seychelles, FSC Mauritius, SVGFSA2012MT4, MT5
8TradeStation9/10CFTC, FCA, NFA1982Proprietary
9Tickmill8.7/10CySEC, FCA, FSCA2014MT4, MT5
10Dukascopy Bank8.6/10FINMA, JFSA, Latvijas Banka2004Proprietary
  1. FOREX.com 10.0
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  2. Interactive Brokers 10.0
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  3. Plus500 10.0
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  4. Swissquote 10.0
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  5. tastytrade 9.1
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  6. FP Markets 9.0
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  7. JustMarkets 9.0
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  8. TradeStation 9.0
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  9. Tickmill 8.7
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  10. Dukascopy Bank 8.6
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How We Pick These Brokers

The brokers on this page are chosen and ranked using BrokerCatalogue’s independent review framework. We look at regulation, safety of client funds, trading costs, platforms and tools, execution, and overall fit for this specific use case or region.

Some brokers may be our partners, but no broker can pay to change its score or ranking. Sponsorship can affect visibility (for example, “featured” labels), not how we rate risk or quality.

This page is for information only and is not financial or investment advice. Always do your own research.

See our Affiliate & Advertising Disclosure, Methodology and Risk Disclosure for full details.

Frequently Asked Questions

Start with authorization by a reputable regulator and clear, published terms. Check how the broker handles client money, platform stability, and two factor security. Compare the full fee schedule and the instruments you plan to trade. Make sure you can deposit and withdraw with methods that work in the Philippines, and understand processing times and currency conversion. Look for responsive support during your hours, plus education and a demo. Read the risk disclosures and account agreements so you know how margin and orders work.

The SEC says online forex platforms have no permission to serve the public, and it has acted against XM, Exness and HFM since late 2025. Filipino traders who use offshore brokers do so with no local protection. Read the SEC notices before you decide.

Review spreads, any commission per trade, and overnight financing on positions you hold. Check currency conversion costs if your account base is not in your local currency. Look for deposit and withdrawal charges, inactivity fees, and costs for data or premium tools. Ask how pricing and execution work during fast markets. The best choice depends on what you trade and how often you trade. Request a clear fee table and examples from support before you fund, so you know your total cost.

Check which funding options the broker supports for Philippine residents, such as bank transfers, cards, or local payment services. Confirm if the account base currency matches your needs to limit conversion costs. Expect to complete identity checks before moving money. Withdrawals usually go back to the original source, so keep methods in your name. Review processing times, limits, and possible third party bank charges. Make a small test withdrawal early to confirm everything works as expected before you scale up.

Currency prices can move quickly, and leverage can make both gains and losses larger. Orders may fill at different prices during fast markets or gaps. Technology issues, outages, or poor connections can affect your trading. Using unregulated firms can add counterparty and regulatory risk. Make sure you understand the product, platform, fees, and margin rules before you trade. Practice with a demo, set personal limits, and decide in advance how you will handle adverse moves. Only proceed if the risks fit your situation.

Be cautious of firms that are not authorized, hide their contact details, or refuse to share key documents. Avoid high pressure sales, unsolicited messages, or claims of certain outcomes. Read the terms on withdrawals and fees, and test a small withdrawal early. Verify authorization using official sources, not links sent by strangers. Do not share remote access to your device or send funds to personal accounts. If something feels off, pause and seek independent verification before you proceed.

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