Live coveragePH · forex market
Forex brokers in the Philippines: GCash or nothing.
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.
Available to PH traders
49
accept residents
On our list
8
ranked for Philippines
BSP-licensed
0
offshore only
Leverage cap
1:500 (overseas)
retail
Top payment
GCash
Currency
PHP
49 brokers accept Philippines residents. None hold a local BSP licence — all are offshore-regulated. We currently track and rank 8 for Philippines below.
Best in Philippines
Browse all 88 brokers ranked for Philippines.
From 49 that accept PH residents — the ones we track, scored and sorted by Trust Score.
1
EX
ExnessFeatured
EUR/USD 0.2 typ. · $10 min · 1:2000
93
FCACySEC
2
IC
IC MarketsFeatured
EUR/USD 1.1 typ. · $200 min · 1:500
88
ASICCySEC
3
HF
HFM
EUR/USD 0.3 typ. · $0 min · 1:1000
85
FCACySEC
4
FX
FXTM
EUR/USD 0.4 typ. · $10 min · 1:1000
82
FCACySEC
5
OC
OctaFXFeatured
EUR/USD 0.8 typ. · $25 min · 1:500
82
CySECFSCA
6
XM
XM Group
EUR/USD 0.8 typ. · $5 min · 1:1000
82
CySECASIC
7
FB
FBS
EUR/USD 0.5 typ. · $1 min · 1:3000
74
CySECIFSC
8
ON
OnFin
EUR/USD 0.1 typ. · $1 min · 1:3000
63
MISA
| # | 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 |
Cross-references for Philippines
Our guides for Philippines
Questions traders in Philippines ask.
Is forex trading legal in the Philippines?
Yes via overseas regulated brokers. The BSP and SEC PH don't issue retail forex licenses, so domestic brokers don't exist — every active broker is offshore.
Can I really fund my account with GCash?
Yes — most brokers serving the Philippines integrate GCash directly, with deposits and withdrawals in under a minute. Some cap GCash withdrawals to ₱500,000/day.
Are there fees?
GCash itself is free for forex deposits with most brokers. Some brokers pass FX-conversion costs through; it's worth checking the broker's funding page.