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People living in the Philippines grow more interested in online trading with each passing year. Luckily, many international brokers already operate in the country, so the task is much simpler: just find a nice broker with favorable trading conditions. However, each of them has its own set of fees, assets, and a variety of account types with distinct features, so that task is still not a trivial one. To help you out, we are going to tell you what to look for and give you several trusted options to start with.
Looking for the best
There are numerous important aspects to consider when looking for a broker. First of all, you must be sure a broker has a valid license: trading on unregulated platforms is very dangerous. If that’s solved, you should definitely check out the broker’s fee structure: make sure your account doesn’t have any hidden or complicated fees. By the way, you should also learn about available account types. If you’re a complete beginner, it would be wise to start with a demo account.
Other important things include possible payment methods and features for earning passive income: a lot of brokers offer very useful copy trading services now, so check them out. Anyway, if you don’t feel like comparing dozens of brokers with different conditions by yourself, you probably just want to know: which trading platform is the best in the Philippines? To save you time and effort, we are happy to give you several options favored by the majority of novice traders in the country.
Regulated by several influential regulators like FCA and CySEC, FxPro is a very secure broker. It has a wide variety of available assets, including more than 70 Forex pairs and many different CFDs, and it also features a useful demo account that you can use for practice. The broker is also known for its low fees and tight spreads.
Interactive Brokers is one of the most popular trading platforms in the Philippines. It has many various trading tools, including stocks, options, futures, ETFs, and CFDs. The minimum deposit is just $1, and the leverage rates reach 1:1000 for certain assets. The broker also has its own trading academy with all kinds of educational materials.
One of the best brokers in the world, eToro is well-known in the Philippines, too. Secure and regulated by major institutions like FCA, the broker provides great trading conditions and low fees. However, it’s mostly praised for its copy trading opportunities.