The Philippines prohibits forex trading in the country, therefore, you should choose the best forex broker in order to learn forex before the Philippines revises its regulatory framework in the future。

The Philippines is one of the few countries that does not allow its citizens to trade forex, therefore, you will not find any broker in the Philippines that is regulated and authorized to facilitate forex and CFD trading。Some foreign companies may accept clients from the Philippines, but you should choose carefully to avoid any pitfalls and find the best forex broker。

Philippines Forex Trading

Forex trading has become popular in various countries, including the United States, the United Kingdom, Japan, Australia, and even neighboring Indonesia。However, due to reports of widespread fraud and fatal losses among retail traders, the Philippines has taken a rather conservative approach - banning foreign exchange transactions.。

On October 30, 2018, the Securities and Exchange Commission of the Philippines (SEC) issued a notice entitled "Foreign exchange trading is illegal in the Philippines," and any Filipino resident who wants to trade foreign exchange should be aware of three key points in the notice:

1. Advise the public to stop foreign exchange trading and investing in foreign exchange, CFDs, indices, binary options and other platforms.。
2. The public is advised to steer clear of anyone promoting such financial products as they do not have a licence to facilitate transactions in the Philippines.。
3. The public is encouraged to report to the Department of Enforcement and Investor Protection (EIPD) anyone promoting such financial products。

Individuals can still trade forex through foreign platforms at their own risk。It is recommended that you learn forex trading before the Philippines improves the regulatory framework of the sector in the future rather than start trading immediately。

The Importance of Learning Forex

Forex trading is not easy, most people fail at their first attempt at forex trading because they don't learn enough, and only realize their mistakes after losing hundreds, thousands of dollars。

Perhaps a similar fate can be avoided by studying Forex for a few months (or years), it is recommended to practice in a demo account for at least six months before depositing the money into a real account。

Forex Demo Account is a specialized account designed to allow beginners to practice buying and selling assets based on real market prices without any funds。In contrast to real accounts, you do not need to deposit real funds to use the trading platform。

Demo accounts are usually offered for free by online forex brokers, you only need to fill out a short application form to get。The broker will then send the username and password to log in to your client area。The trading platform and any other peripherals that may be required can be downloaded in the client area。

After setting up the simulation platform, you can immediately start buying and selling assets using the virtual funds already in your account, try to analyze the market and practice trading carefully。If your virtual funds disappear, you can ask the broker to recharge, it is completely free。

Brokers where you can study Forex in Philippines

Although only brokers will be selected to learn Forex, this does not mean that any broker can be selected.。There are plenty of scammers who claim to be forex brokers and could suffer identity theft if they fall into their scam。

It is very important to review the best forex brokers carefully, please make sure you only hire brokers who have enough licenses to offer forex trading facilities in their home country。It is also important to browse the broker's online reviews to ensure that they have quality features and responsive customer service。

In order to select the best forex broker, please refer to the following list:

Tracker Securities

The US-based broker offers a wide range of educational materials including webinars, short videos and a 49-course Trader Academy。Trader Academy aims to help traders, investors, educators and students improve their understanding of markets and currencies。

On the downside, Tracker Securities offers its own proprietary trading platform。Therefore, if you want to join another broker, you must learn the platform from scratch again.。

FXCM

FXCM is regulated and authorized by the UK FCA to provide foreign exchange trading facilities in Europe, and the company also has a subsidiary in Bermuda that provides foreign exchange trading elsewhere.。

The FXCM website is available in multiple languages with dedicated trading support in English and Tagalog, and there are plenty of videos to guide you through Forex。FXCM offers proprietary trading platforms as well as Metatrader。Metatrader is the most popular trading platform in the world, so you can use the knowledge gained to join other brokers in the future。

OctaFX

OctaFX is regulated in a number of offshore territories, including Estonia and Saint Vincent and the Grenadines, and is not as qualified as the above-mentioned Forex brokers.。However, Filipino traders may consider OctaFX as they offer various advantages including multi-platform Metatrader4, Metatrader5 and cTrader。OctaFX is also available on the mobile app and can be easily downloaded in the Google Playstore and Apple AppStore。

OctaFX also often hosts Forex trading competitions in demo accounts, which is your chance to win free money and trade in a real account without any money。

Exness

Exness is authorised and regulated by the UK's Financial Conduct Authority (FCA) with registration number 730729 and is also registered across Europe through MiFID II.。The official Exness website is available in several languages, including Spanish。

The educational menu occupies a prominent place on its official website, and those who want to become a trader can systematically learn Forex through Exness Academy and improve their insight through webinars。

XM Group

Authorised and regulated by the Cyprus Securities and Exchange Commission (CySec) to legalise its operations in Europe, XM Group offers an extensive learning centre with dozens of educational videos and platform tutorials.。If you want to dive into the topics of online trading platforms, the XM website is your go-to resource。

Apart from the Philippines, one of the most lucrative markets in Southeast Asia is Indonesia, an emerging country and one of the most populous in the world.。However, brokers operating in the country are regulated only by Bappebti。