We found 11 online brokers that are appropriate for Trading Bsp.
The regulation of Forex brokers in the Philippines is a complex issue. While the financial market continues to grow, trading Forex with leverage is currently illegal in the Philippines according to the Securities and Exchange Commission (SEC) advisory. However, many Filipino traders still access the global Forex market by opening accounts with internationally regulated brokers.
The Bangko Sentral ng Pilipinas steers financial stability in the Philippines by setting monetary policy, managing liquidity, and protecting currency reserves. I’ve seen it keep a close watch on legal foreign exchange services like remittances and travel transactions, but it doesn’t oversee speculative forex trading or online brokers.
In my experience, while the BSP ensures our economy stays on track, it stops short of regulating leveraged forex brokers, focusing instead on broader economic stability rather than direct oversight of trading firms.
When choosing a forex broker in the Philippines, it's crucial to prioritize those authorized or operating under the regulatory guidance of the Bangko Sentral ng Pilipinas. Regulation for Filipino traders ensures that your funds are handled transparently, and that the broker complies with risk controls, anti money laundering rules, and consumer protection laws.
While eToro is not currently regulated by the BSP, it remains a popular option among Filipino traders due to its international licenses and strong track record. eToro offers forex trading on major and minor pairs, and features copy trading that enables users to follow top forex investors. Filipino traders should use eToro through proper international channels and understand the importance of fund segregation and risk disclosures provided by their regulating authority (e.g., FCA or CySEC).
AvaTrade is a globally regulated forex broker offering competitive spreads on over 50 currency pairs. Though it is not regulated by the BSP, it accepts clients in the Philippines under its international license. AvaTrade is widely trusted due to its strict compliance with global regulators, and it offers tools such as risk management controls, MT4/MT5 platforms, and multilingual customer support, which appeals to Filipino traders seeking a dependable global broker.
Pepperstone is not BSP regulated but is considered a safe forex broker due to its oversight by top tier bodies like ASIC and FCA. Filipino traders who use Pepperstone benefit from ultra low spreads, no dealing desk execution, and integration with MetaTrader and cTrader. The platform offers educational resources suitable for both beginners and advanced forex traders in the Philippines.
FP Markets is a well established broker with access to deep liquidity and multiple forex pairs. While it is not currently authorized by the BSP, it provides excellent forex trading conditions through its Australian and EU regulations. Filipino traders looking for ECN pricing and high speed execution often consider FP Markets for advanced trading strategies and automated trading using expert advisors (EAs).
Because leveraged Forex trading is currently illegal in the Philippines, the SEC does not issue licenses for Forex brokers to operate domestically. For example, when Juan tried to open a leveraged Forex account with a local Manila based broker in early 2024, he discovered that no such license existed, as the BSP reiterated in its February 2024 Circular No. 1092 that only remittance and payment companies may handle currency transactions. As a result, no Forex brokers are officially regulated by Philippine authorities to offer leveraged trading services.
The SECs position aims to protect investors from the high risks and potential fraud associated with Forex trading. In June 2024, the BSP issued a joint advisory with the SEC warning the public after a Davao based investor lost PHP 200,000 to an unlicensed broker promising 25% monthly returns. This advisory underscored how volatile and complex markets can be exploited by scams promising unrealistic profits or guaranteed gains, prompting local regulators to maintain the prohibition on leveraged Forex.
Filipino traders can still participate in Forex trading by using foreign brokers regulated by reputable authorities such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), or the Monetary Authority of Singapore (MAS). For instance, Maria from Davao began trading EUR/USD with an FCA regulated broker after the BSPs August 2024 reminder that only nonleveraged spot transactions are allowed. Pedro in Manila prefers an ASIC licensed broker like Pepperstone for its low spreads on AUD/USD, following BSPs October 2024 circular requiring all Filipino remittance partners to conduct enhanced due diligence when transferring funds overseas. However, these brokers are not regulated by the SEC or BSP, meaning local regulatory protection is not available if disputes arise.
When selecting a foreign broker, it is essential to choose one with a valid license issued by a top tier regulatory body and that maintains transparency in its operations. Traders should also confirm that the broker offers secure funding methods. For example, Luis from Quezon City uses his BDO debit card to deposit via Skrill, while Ana from Iloilo prefers Neteller for its faster withdrawal timesboth methods comply with the BSPs 2023 circular on secure electronic payments. Some traders, like Carlo in Makati, even use cryptocurrency (e.g., Bitcoin) to fund accounts with minimal bank intervention, though the BSPs December 2023 Crypto Advisory warned of risks in converting digital assets to fiat for Forex. Each method offers different levels of convenience, privacy, and costcredit/debit cards often incur 23% fees, e wallets may charge monthly maintenance, and crypto can have network transaction fees.
Because Forex trading is unregulated in the Philippines, many fraudulent entities target Filipino traders through social media or messaging apps. Warning signs include brokers who promise guaranteed profitslike the PhilForex Elite group on Facebook that claimed 50% monthly returnsor those that request unusually high deposits up front (often above USD 5,000). In September 2024, the BSP collaborated with the Department of Justice to shut down an online syndicate that scammed over 2,000 Filipinos out of PHP 50 million by posing as a licensed broker. Traders should also be wary of platforms that refuse to allow withdrawals; for instance, Ricardo in Bacolod didnt receive his USD 1,200 withdrawal from an unverified broker last year. Another red flag is failing to show proper regulatory documentationwhen Elaine in Cebu checked the brokers license on the FCA website, she found no matching entry. Always verify a brokers license with the official regulators database (e.g., asic.gov.au, fca.org.uk, or cysec.gov.cy) before funding any account.
From my experience navigating the Forex landscape in the Philippines, Ive learned that leveraged Forex trading remains off limits locally. Back in 2023, when I first tried to research a Manila based broker offering leverage, I discovered that the SEC advisory explicitly prohibits such services, and the BSP reiterates this stance in its circulars. This reality pushed me to look abroad, as I realized no domestic broker could legally provide the kind of trading I wanted.
My understanding of the BSPs role deepened when I attended a financial webinar in late 2024. The Bangko Sentral ng Pilipinas focuses on maintaining economic stability and monitors only legal currency exchanges like remittances or travel related transactions. I remember a panelist emphasizing that the BSP does not regulate speculative Forex activities. That clarification made me more cautious: I knew I had to rely on international brokers to trade Forex.
When choosing a broker, I gravitated toward platforms regulated by top tier authorities. For instance, I opened an account with eToro under its FCA license and appreciated its copy trading featureas a beginner, copying seasoned EUR/USD traders gave me confidence. Similarly, I tried AvaTrade because of its ASIC regulation in 2023, which ensured transparent risk controls and reliable customer support. Although none of these platforms carry a BSP license, knowing they comply with stringent global rules gave me peace of mind.
As I explored advanced strategies in 2024, I tested Pepperstones ultra low spreads and no dealing desk execution through its ASIC oversight. The ability to run MetaTrader scripts and cTrader bots was invaluable when I backtested my AUD/USD scalping plan. Likewise, FP Marketsregulated by both ASIC and EU bodiesbecame my go to for ECN pricing, especially when I needed lightning fast execution for weekend grid trades. These experiences reinforced that, even without local BSP supervision, high quality international regulation can protect my funds.
One hard lesson came from witnessing scams. In September 2024, a friend lost PHP 100,000 to a fake PhilForex Elite group on messaging apps. I learned from the BSP DOJ joint advisory how these fraudsters promise 50% monthly returns and disappear with deposits. Since then, Ive always cross checked broker licenses on regulatory sites (FCA, ASIC, CySEC) before funding any accountno exceptions.
To fund my accounts, I experimented with different methods mentioned in the BSPs 2023 secure payments circular. I used my BDO debit card via Skrill to deposit into AvaTrade, which was straightforward. Later, when I tried Neteller through a local partner in Iloilo, withdrawals were faster, although fees varied. My colleague in Makati even used Bitcoin once, following the BSPs December 2023 Crypto Advisory, but we noted the volatility risk when converting back to PHP for Forex trading.
Summing up my journey, Ive found that while the BSP does not regulate Forex brokers directly, its circulars and joint advisories with the SEC play a critical role in safeguarding Filipino traders. By selecting internationally regulated brokers like eToro, AvaTrade, Pepperstone, and FP Markets, and by remaining vigilant against scams, Ive managed to trade Forex responsibly despite the absence of local leverage options. Each stepfrom verifying licenses to choosing secure funding methodshas taught me to prioritize both regulatory compliance and personal risk management.
We have conducted extensive research and analysis on over multiple data points on Bsp Brokers to present you with a comprehensive guide that can help you find the most suitable Bsp Brokers. Below we shortlist what we think are the best bsp brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Bsp Brokers.
Selecting a reliable and reputable online Bsp trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Bsp more confidently.
Selecting the right online Bsp trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for bsp trading, it's essential to compare the different options available to you. Our bsp brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a bsp broker that best suits your needs and preferences for bsp. Our bsp broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Bsp Brokers.
Compare bsp brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a bsp broker, it's crucial to compare several factors to choose the right one for your bsp needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are bsp brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more bsp brokers that accept bsp clients.
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IC Markets
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XTB
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XM
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AvaTrade
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FP Markets
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webull
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tradezero
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eaglefx
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skilling
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forextb
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hugosway
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Regulation | Seychelles Financial Services Authority (FSA) (SD018) | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC) (000261/4) XM ZA (Pty) Ltd, Cyprus Securities and Exchange Commission (CySEC) (license 120/10) Trading Point of Financial Instruments Ltd, Australian Securities and Investments Commission (ASIC) (number 443670) Trading Point of Financial Instruments Pty Ltd | Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd (406684), South African Financial Sector Conduct Authority (FSCA) Ava Capital Markets Pty Ltd (45984), Financial Services Agency (Japan FSA) Ava Trade Japan K.K. (1662), Financial Futures Association of Japan (FFAJ),, FFAJ, Abu Dhabi Global Markets (ADGM)(190018) Ava Trade Middle East Ltd (190018), Polish Financial Supervision Authority (KNF) AVA Trade EU Ltd, Central Bank of Ireland (C53877) AVA Trade EU Ltd, British Virgin Islands Financial Services Commission (BVI) BVI (SIBA/L/13/1049), Israel Securities Association (ISA) (514666577) ATrade Ltd, Financial Regulatory Services Authority (FRSA) | CySEC (Cyprus Securities and Exchange Commission) (371/18), ASIC AFS (Australian Securities and Investments Commission) (286354), FSP (Financial Sector Conduct Authority in South Africa) (50926), Financial Services Authority Seychelles (FSA) (130) | SEC (Securities and Exchange Commission), FINRA (Financial Industry Regulatory Authority), SIPC (Securities Investor Protection Corporation), NYSE (New York Stock Exchange), NFA (National Futures Association), CFTC (Commodity Futures Trading Commission), CBOE EDGX (Cboe EDGX Exchange, Inc.) | SCB (Securities Commission of the Bahamas) (SIA-F151) | Unregulated | CySEC (Cyprus Securities and Exchange Commission) (357/18) | CySEC (Cyprus Securities and Exchange Commission) (272/15), CIF (Cyprus Investment Firm) | Unregulated |
Min Deposit | 200 | No minimum deposit | 5 | 100 | 100 | No minimum deposit | 500 | 50 | 100 | 250 | 10 |
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Used By | 200,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 200,000+ | 20,000,000+ | 250,000+ | 10,000+ | 25,000+ | 10,000+ | 10,000+ |
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Platforms | MT5, MT4, MetaTrader WebTrader, Mobile Apps, iOS (App Store), Android (Google Play), MetaTrader iPhone/iPad, MetaTrader Android Google Play, MetaTrader Mac, cTrader, cTrader Web, cTrader iPhone/iPad, cTrader iMac, cTrader Android Google Play, cTrader Automate, cTrader Copy Trading, TradingView, Virtual Private Server, Trading Servers, MT4 Advanced Trading Tools, IC Insights, Trading Central | MT4, Mirror Trader, Web Trader, Tablet, Mobile Apps, iOS (App Store), Android (Google Play) | MT5, MT5 WebTrader, XM Apple App for iPhone, XM App for Android Google Play, Tablet: MT5 for iPad, MT5 for Android Google Play, XM App for iPad, XM App for iOS (App Store), Android (Google Play), Mobile Apps | MT4, MT5, Web Trading, AvaTrade App, AvaOptions, Mac Trading, AvaSocial, Mobile Apps, iOS (App Store), Android (Google Play) | MT4, MT5, TradingView, cTrader, WebTrader, Mobile Trader, Mobile Apps, iOS (App Store), Android (Google Play) | Webull Desktop, WebTrade, Webull Mobile, Mobile Apps, Android (Google Play), iOS (App Store) | ZeroPro, Desktop, Web, ZeroWeb, ZeroFree, ZeroMobile, Android (Google Play), iOS (App Store) | MT4, PC, Web Trading, MT4, Mobile Apps, iOS (App Store), Android (Google Play) | Skilling Trader, Skilling cTrader, Skilling MT4, PC, Mac, Mobile Apps, Android (Google Play), iOS (App Store), Web, Skilling Copy | MT4, PC, Mac, Mobile Apps, Android (Google Play), iOS (App Store), WebTrader, Professional Client | PRO4, Windows, Web, Mobile Apps, iOS (App Store), Android (Google Play) |
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Learn More |
Sign
Up with icmarkets |
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Up with xtb |
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Up with xm |
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Up with avatrade |
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Up with fpmarkets |
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Up with webull |
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Up with tradezero |
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Up with eaglefx |
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Up with skilling |
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Up with forextb |
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Up with hugosway |
Risk Warning | Losses can exceed deposits | 69% - 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.12% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Your capital is at risk | Your capital is at risk | Your capital is at risk | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.80% of retail investor | Your capital is at risk |
Demo |
IC Markets Demo |
XTB Demo |
XM Demo |
AvaTrade Demo |
FP Markets Demo |
Webull Demo |
TradeZero Demo |
EagleFX Demo |
Skilling Demo |
ForexTB Demo |
HugosWay Demo |
Excluded Countries | US, IR, CA, NZ, JP | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | UK, AU, SA, AL, DZ, AS, AD, AO, AI, AQ, AG, AR, AM, AW, AT, AZ, BS, BH, BD, BB, BY, BE, BZ, BJ, BM, BT, BO, BQ, BA, BW, BV, BR, IO, BN, BG, BF, BI, CV, KH, CM, CA, KY, CF, TD, CL, CX, CC, CO, KM, CD, CG, CK, CR, HR, CU, CW, CY, CZ, CI, DK, DJ, DM, DO, EC, EG, SV, GQ, ER, EE, SZ, ET, FK, FO, FJ, FI, FR, GF, PF, TF, GA, GM, GE, DE, GH, GI, GR, GL, GD, GP, GU, GT, GG, GN, GW, GY, HT, HM, VA, HN, HK, HU, IS, IN, ID, IR, IQ, IE, IM, IL, IT, JM, JP, JE, JO, KZ, KE, KI, KP, KR, KW, KG, LA, LV, LB, LS, LR, LY, LI, LT, LU, MO, MG, MW, MY, MV, ML, MT, MH, MQ, MR, MU, YT, MX, FM, MD, MC, MN, ME, MS, MA, MZ, MM, NA, NR, NP, NL, NC, NZ, NI, NE, NG, NU, NF, MP, NO, OM, PK, PW, PS, PA, PG, PY, PE, PH, PN, PL, PT, PR, QA, MK, RO, RU, RW, RE, BL, SH, KN, LC, MF, PM, VC, WS, SM, ST, SN, RS, SC, SL, SG, SX, SK, SI, SB, SO, ZA, GS, SS, ES, LK, SD, SR, SJ, SE, CH, SY, TW, TJ, TZ, TH, TL, TG, TK, TO, TT, TN, TR, TM, TC, TV, UG, UA, AE, GB, UM, UY, UZ, VU, VE, VN, VG, VI, WF, EH, YE, ZM, ZW, AX | US, IN, PK, BD, NG , ID, BE | US, IN, PK, BD, NG , ID, BE | US, IN, PK, BD, NG , ID, BE | US, IN, PK, BD, NG , ID, BE | US, IN, PK, BD, NG , ID, BE |
You can compare Bsp Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Bsp Brokers for 2025 article further below. You can see it now by clicking here
We have listed top Bsp brokers below.