Top 10 best forex trading app in the Philippines

Forex trading has become increasingly popular in recent years, with more and more people looking to diversify their investments and take advantage of the global currency market. And with the rise of mobile technology, it’s now easier than ever to trade on the go through Forex trading apps. But with so many options available, it can be overwhelming to choose the right app for your trading needs. In this article, we’ll take a look at the top 10 best Forex trading apps in the Philippines, based on their features, pros and cons, and our own opinions.

Top Best Forex Brokers in the world 2024

✅#1 Exness Open An Account or Visit site

✅#2 JustMarkets Open An Account or Visit site

✅#3 XM Open An Account or Visit site

✅#4 Avatrade Open An Account or Visit site

✅#5 XTB Open An Account or Visit site

✅#6 OctaFx Open An Account Here

✅#7 HF Market Open An Account or Visit site

✅#8 PepperStone Visit site here

✅#9 Deriv Visit site here

✅#10 FPMarket Open An Account or Visit site

1. HFM (HotForex)

HFM, or HotForex, is a well-established broker that has been in the game since 2010. It offers a user-friendly platform and competitive spreads, making it a popular choice among traders. One of its key features is the wide range of trading instruments available, including forex, stocks, metals, energies, and indices.

Features:

• User-friendly platform
• Competitive spreads
• Wide range of trading instruments
• Multiple account types
• Low minimum deposit

Pros:

• Established and reputable broker
• Offers a variety of account types to cater to different trading needs
• Low minimum deposit makes it accessible for beginners
• Transparent pricing with no hidden fees
• Provides educational resources for traders of all levels

Cons:

• Limited customer support options compared to other brokers
• Some traders have reported issues with slippage and requotes during high volatility periods
• Limited range of cryptocurrencies available for trading

Our Opinion:

Overall, HFM is a strong contender in the Forex trading app market, offering a user-friendly platform and a wide range of trading instruments. Its low minimum deposit and transparent pricing make it an attractive option for both beginner and experienced traders. However, the limited customer support options may be a drawback for some traders.

2. IC Markets

IC Markets is a highly-regarded broker in the industry, known for its deep liquidity and ultra-fast execution speeds. The company is based in Australia and is regulated by the Australian Securities and Investments Commission (ASIC). It also offers a strong commitment to providing a transparent and regulated trading environment.

Features:

• Deep liquidity
• Ultra-fast execution speeds
• Regulated by ASIC
• Multiple account types
• Comprehensive research tools

Pros:

• Highly-regarded and reputable broker
• Transparent and regulated trading environment
• Offers a variety of account types to suit different trading styles
• Comprehensive research tools for traders to make informed decisions
• Provides educational resources for traders of all levels

Cons:

• Limited range of trading instruments compared to other brokers
• Inactivity fees for dormant accounts
• Higher minimum deposit compared to other brokers

Our Opinion:

IC Markets is a top choice for serious Forex traders who value deep liquidity and fast execution speeds. Its strong commitment to transparency and regulation is also a big plus. However, the higher minimum deposit and limited range of trading instruments may not make it the best fit for beginner traders or those looking to diversify their portfolio beyond forex.

3. FxPro

FxPro is another popular choice among Forex traders, known for its advanced trading platform, competitive spreads, and robust research tools. The company has been around since 2006 and is regulated by the Financial Conduct Authority (FCA) in the UK.

Features:

• Advanced trading platform
• Competitive spreads
• Regulated by FCA
• Multiple account types
• Strong research tools

Pros:

• Advanced trading platform with customizable features
• Tight spreads for both major and minor currency pairs
• Regulated by a reputable authority
• Offers a variety of account types to cater to different trading needs
• Comprehensive research tools for traders to make informed decisions

Cons:

• Higher minimum deposit compared to other brokers
• Limited range of trading instruments
• Inactivity fees for dormant accounts

Our Opinion:

FxPro is a solid choice for traders who value advanced features and comprehensive research tools. Its tight spreads and variety of account types also make it appealing for traders of all levels. However, the higher minimum deposit may be a barrier for some traders.

4. Oanda

Oanda is a trusted broker that has been in business since 1996. It offers a powerful trading platform, competitive pricing, and a range of educational resources for traders of all levels. The company is regulated by multiple authorities, including the US Commodity Futures Trading Commission (CFTC) and the Financial Conduct Authority (FCA) in the UK.

Features:

• Powerful trading platform
• Competitive pricing
• Regulated by CFTC and FCA
• Educational resources for traders

Pros:

• Established and reputable broker with a long history in the industry
• Transparent pricing with no hidden fees
• Offers a variety of educational resources for traders of all levels
• Regulated by multiple authorities for added security
• Provides a demo account for traders to practice and test strategies before investing real money

Cons:

• Limited range of trading instruments compared to other brokers
• Higher minimum deposit compared to other brokers
• Inactivity fees for dormant accounts

Our Opinion:

Oanda is a great choice for traders looking for a trusted and established broker. Its transparent pricing and regulatory compliance are big advantages, and its educational resources are a bonus for beginners. However, the limited range of trading instruments and higher minimum deposit may not make it the best fit for everyone.

5. Pepperstone

Pepperstone is a popular choice among Forex traders, known for its competitive spreads, fast execution speeds, and support for a wide variety of trading strategies. The company is regulated by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK.

Features:

• Competitive spreads
• Fast execution speeds
• Regulated by ASIC and FCA
• Support for various trading strategies
• Multiple account types

Pros:

• Highly competitive pricing with tight spreads
• Ultra-fast execution speeds for time-sensitive trades
• Regulated by reputable authorities for added security
• Offers a variety of account types to cater to different trading needs
• Supports a wide range of trading strategies, including scalping and hedging

Cons:

• Higher minimum deposit compared to other brokers
• Limited educational resources for beginner traders
• Inactivity fees for dormant accounts

Our Opinion:

Pepperstone is a strong choice for active traders who value competitive pricing and fast execution speeds. Its support for various trading strategies also makes it attractive for experienced traders. However, the higher minimum deposit and limited educational resources may not make it the best option for beginners.

6. Exness

Exness is a broker that caters to both beginner and experienced traders. It offers a variety of account types with low minimum deposits, making it an attractive choice for those new to Forex trading. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Commission (FSC) in Mauritius.

Features:

• Multiple account types with low minimum deposits
• Regulated by CySEC and FSC
• User-friendly platform
• Wide range of trading instruments

Pros:

• Low minimum deposits make it accessible for beginners
• Regulated by reputable authorities for added security
• User-friendly platform with customizable features
• Offers a wide range of trading instruments, including forex, cryptocurrencies, and commodities

Cons:

• Higher spreads compared to other brokers
• Limited educational resources for traders
• Inactivity fees for dormant accounts

Our Opinion:

Exness is a great option for beginners looking to start with a low minimum deposit. Its user-friendly platform and wide range of trading instruments also make it appealing for both novice and experienced traders. However, the higher spreads may eat into profits for active traders.

7. Swissquote

Swissquote is a well-known bank and broker that has been in operation since 1996. It offers a secure and reliable trading environment, access to a wide range of global markets, and investment products. The company is regulated by multiple authorities, including the Swiss Financial Market Supervisory Authority (FINMA).

Features:

• Secure and reliable trading environment
• Access to global markets and investment products
• Regulated by FINMA
• Multiple account types

Pros:

• Established and reputable bank and broker
• Provides access to a wide range of global markets and investment products
• Regulated by multiple authorities for added security
• Offers a variety of account types to cater to different trading needs
• User-friendly platform with customizable features

Cons:

• Higher minimum deposit compared to other brokers
• Limited educational resources for traders
• Inactivity fees for dormant accounts

Our Opinion:

Swissquote is a solid choice for traders looking for a secure and reliable trading environment, backed by an established bank and broker. Its access to global markets and investment products may also be attractive for those looking to diversify their portfolio. However, the higher minimum deposit may be a barrier for some traders.

8. AvaTrade

AvaTrade is a popular broker that offers a user-friendly platform, a diverse selection of trading instruments, and a strong focus on customer support. The company is regulated by multiple authorities, including the Central Bank of Ireland, the Australian Securities and Investments Commission (ASIC), and the Financial Services Commission (FSC) in Japan.

Features:

• User-friendly platform
• Diverse selection of trading instruments
• Regulated by multiple authorities
• Strong focus on customer support

Pros:

• User-friendly platform with customizable features
• Offers a wide range of trading instruments, including forex, stocks, commodities, and cryptocurrencies
• Regulated by reputable authorities for added security
• Provides live chat support for quick assistance
• Offers a demo account for traders to practice and test strategies before investing real money

Cons:

• Inactivity fees for dormant accounts
• Higher spreads compared to other brokers
• Limited educational resources for traders

Our Opinion:

AvaTrade is a good choice for traders looking for a user-friendly platform and a diverse selection of trading instruments. Its strong focus on customer support is also a big plus. However, the higher spreads and limited educational resources may be a downside for some traders.

9. IG

IG is a well-known broker that has been in operation since 1974. It offers a variety of trading instruments, including forex, CFDs, indices, and commodities, and is regulated by multiple authorities, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).

Features:

• Wide range of trading instruments
• Regulated by FCA and ASIC
• User-friendly platform
• Comprehensive research tools

Pros:

• Established and reputable broker with a long history in the industry
• Offers a wide range of trading instruments to cater to different trading needs
• Regulated by reputable authorities for added security
• User-friendly platform with customizable features
• Comprehensive research tools for traders to make informed decisions

Cons:

• Higher minimum deposit compared to other brokers
• Limited customer support options
• Inactivity fees for dormant accounts

Our Opinion:

IG is a solid option for traders looking for a well-established and reputable broker with a wide range of trading instruments. Its comprehensive research tools are also a big advantage for those looking to make informed decisions. However, the higher minimum deposit and limited customer support options may be a drawback for some traders.

10. Capital.com

Capital.com is a newer player in the Forex market, having been founded in 2016. It offers a user-friendly platform and a variety of trading instruments, including forex, CFDs, and cryptocurrencies. The company is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA).

Features:

• User-friendly platform
• Wide range of trading instruments
• Regulated by CySEC and FCA
• Multiple account types

Pros:

• User-friendly platform with customizable features
• Offers a variety of trading instruments, including forex, CFDs, and cryptocurrencies
• Regulated by reputable authorities for added security
• Provides a demo account for traders to practice and test strategies before investing real money
• Low minimum deposits for beginners

Cons:

• Higher spreads compared to other brokers
• Limited educational resources for traders
• Inactivity fees for dormant accounts

Our Opinion:

Capital.com is a promising option for beginner traders looking to start with low minimum deposits. Its user-friendly platform and variety of trading instruments are also attractive features. However, the higher spreads and limited educational resources may not make it the best fit for experienced traders.

FAQs

Q1. What is the best Forex trading app in the Philippines?

As mentioned at the beginning of this article, it’s impossible to definitively rank the best Forex trading apps as the ideal choice depends on individual traders’ needs and preferences. However, the 10 apps listed in this article are popular and reputable choices among traders in the Philippines.

Q2. Are these Forex trading apps available for both Android and iOS devices?

Yes, all of the apps listed in this article are available for both Android and iOS devices.

Q3. Do I need a lot of money to start trading on these apps?

No, each app has different minimum deposit requirements, but many offer low minimum deposits to cater to beginner traders.

Q4. Can I trade on these apps with a demo account before investing real money?

Yes, most of the apps listed offer demo accounts for traders to practice and test their strategies before investing real money.

Q5. Are these apps safe to use?

All of the apps listed in this article are regulated by reputable authorities and have strict security measures in place to protect traders’ investments. However, it’s always important to do your own research and choose a reputable broker before starting to trade.

Conclusion

In conclusion, there is no one-size-fits-all when it comes to choosing the best Forex trading app. It ultimately depends on your individual trading needs and preferences. However, the 10 apps listed in this article are popular and reputable choices among traders in the Philippines. We hope this article has provided valuable insights to help you make an informed decision on which app to use for your Forex trading journey. Happy trading!