85 million Filipinos use GCash. The forex brokers that integrated early — OctaFX, Exness, XM — captured the local market. The ones that didn't are still trying to onboard via 3-day bank wires and losing. The BSP doesn't license retail forex directly, so every broker here operates under an overseas license.
49 brokers accept Philippines residents. None hold a local BSP licence — all are offshore-regulated. We currently track and rank 8 for Philippines below.
From 49 that accept PH residents — the ones we track, scored and sorted by Trust Score.
| # | Broker | Trust | EUR/USD | Min dep. | Leverage | Regulators | 30d | |
|---|---|---|---|---|---|---|---|---|
| 1 | EX ExnessFeatured Est. 2008 · MT4 | 93 | 0.2 | |||||
| 2 | IC IC MarketsFeatured Est. 2007 · MT4 | 88 | 1.1 | |||||
| 3 | HF HFM Est. 2010 · MT4 | 85 | 0.3 | |||||
| 4 | FX FXTM Est. 2011 · MT4 | 82 | 0.4 | |||||
| 5 | OC OctaFXFeatured Est. 2011 · MT4 | 82 | 0.8 | |||||
| 6 | XM XM Group Est. 2009 · MT4 | 82 | 0.8 | |||||
| 7 | FB FBS Est. 2009 · MT4 | 74 | 0.5 | |||||
| 8 | ON OnFin Est. 2015 · MT4 | 63 | 0.1 |