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Best Brokers in the Philippines
Filipino investors have two very different routes into the markets. To buy shares listed on the Philippine Stock Exchange (PSE), you open an account with a local stockbroker. These are licensed by the Securities and Exchange Commission (SEC), trade directly on the PSE and usually accept GCash, Maya or local bank transfers. To reach US stocks, global ETFs or forex, you need an international broker. None of those is registered with the SEC Philippines, which has repeatedly warned the public about foreign trading platforms. At CT Advisory24 we rank both groups separately: first the best local brokers for PSE investing, then the international brokers that accept Filipino clients, with the local caveats you should know before you open an account.
The SEC has advised the public not to trade forex, CFDs and similar products through foreign platforms that are not registered in the Philippines. It has also issued advisories naming specific brokers, including Exness and HF Markets (January 2026), XM (2024) and OctaFX (2023).
For this reason we do not recommend brokers named in SEC advisories. If you use an international broker, you have no local investor protection: your account is governed by the broker’s foreign regulator.
Best Local Stockbrokers in the Philippines
All five brokers below are SEC-licensed broker-dealers and active PSE trading participants, according to the PSE’s public directory. On top of the broker’s commission, every PSE trade carries 12% VAT on the commission, a 0.005% PSE fee and a 0.01% SCCP fee, plus a 0.1% stock transaction tax when you sell (reduced from 0.6% on 1 July 2025).
First Metro Securities
Low-minimum PSE broker with bonds
- Start investing from ₱1,000 (or $100)
- Peso and dollar trading accounts
- Government and corporate bonds alongside PSE stocks
- Fund via GCash, Maya, 7-Eleven and most major banks
About First Metro Securities
First Metro Securities, better known as FirstMetroSec, is one of the most accessible ways to start investing on the Philippine Stock Exchange. The ₱1,000 opening deposit is among the lowest of any local broker, and the funding network is unusually wide: GCash, Maya, the Metrobank app, most major banks and even 7-Eleven counters. It is also one of the few retail platforms that lets you buy government and corporate bonds next to PSE shares, and it offers dollar-denominated accounts for investors who earn or save in USD, such as many OFWs. Online trades cost the standard 0.25% plus VAT, while phone or broker-assisted orders are noticeably more expensive.
Pros & Cons
Pros
- ₱1,000 minimum and the widest funding network in this list
- Bonds and dollar accounts, not just peso stocks
Cons
- Broker-assisted orders cost 0.75%, three times the online rate
- ₱50 fee on PESONet withdrawals outside Metrobank, BDO, BPI and UnionBank
Fees & Funding
- Minimum Deposit
- ₱1,000 or $100
- Commission (PSE Stocks)
- 0.25% + 12% VAT online; 0.75% broker-assisted (peso)
- Account & Withdrawal Fees
- ₱50 per PESONet withdrawal to banks other than Metrobank, BDO, BPI or UnionBank
- Funding Methods
- GCash, Maya, Metrobank app, BDO, BPI, LandBank, UnionBank, Security Bank, PSBank, 7-Eleven and more
Technical Sheet
- Licence
- SEC-licensed broker-dealer; active PSE trading participant
- Markets
- PSE stocks (peso and dollar accounts); government and corporate bonds
- Platforms
- FirstMetroSec web platform and mobile app
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
COL Financial
Research-led PSE broker, established 1999
- Established in 1999 and listed on the PSE itself
- In-house research plus mutual funds via COL Fund Source
- Funding via GCash, Maya and eight partner banks
- Open to Filipinos abroad with no residence restriction
About COL Financial
COL Financial is the name many Filipino investors think of first. Operating since 1999 and itself listed on the Philippine Stock Exchange, it combines online stock trading with in-house equity research and a mutual fund marketplace (COL Fund Source), which makes it a good fit for long-term investors who want guidance as well as execution. Accounts can be funded through GCash, Maya, online bills payment at eight partner banks or overseas remittance channels, and COL accepts clients of any nationality, including Filipinos living abroad. The main drawback since August 2025 is the ₱25,000 activation amount for its Wealth Builder account, the highest in this list.
Pros & Cons
Pros
- Research and a mutual fund marketplace in one account
- No monthly fees and no withdrawal fees
Cons
- ₱25,000 needed to activate an account, the highest here
- Broker-assisted orders cost 0.5%, double the online rate
Fees & Funding
- Minimum Deposit
- ₱25,000 to activate (Wealth Builder account, since August 2025)
- Commission (PSE Stocks)
- 0.25% + 12% VAT online; 0.5% broker-assisted
- Account & Withdrawal Fees
- No monthly fees; no withdrawal fees
- Funding Methods
- GCash, Maya, online bills payment (BDO, BPI, Metrobank, Unionbank and more), bank branches, overseas remittance
Technical Sheet
- Licence
- SEC-licensed broker-dealer; active PSE trading participant
- Markets
- PSE stocks; mutual funds via COL Fund Source
- Platforms
- COL Financial website (COL Pro), COL Mobile app
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
DragonFi
App-first broker with zero funding fees
- Start investing from ₱1,000
- ₱0 deposit and withdrawal fees
- PSE stocks and mutual funds in one app
- Real-time funding via InstaPay
About DragonFi
DragonFi is the newest broker in this list. Its platform launched in 2023 with backing from Jollibee founder Tony Tan Caktiong and Edgar Sia, and it was designed from the start as a mobile-first investing app. It is aimed squarely at first-time investors: the minimum is ₱1,000, deposits and withdrawals are free, and funds arrive in real time through InstaPay or UnionBank online banking. Besides PSE stocks, the full app offers mutual funds, while the simplified DragonFi Lite version focuses on Philippine shares only. GCash and Maya are not among the funding channels listed in its help centre, so most users fund through a bank app.
Pros & Cons
Pros
- ₱0 deposit and withdrawal fees
- Real-time funding through InstaPay and UnionBank online
Cons
- Youngest broker in this list (platform launched in 2023)
- GCash and Maya not listed among funding channels
Fees & Funding
- Minimum Deposit
- ₱1,000
- Commission (PSE Stocks)
- 0.25% + 12% VAT
- Account & Withdrawal Fees
- ₱0 deposits and withdrawals
- Funding Methods
- InstaPay and UnionBank online (real-time), PESONet, bills payment via BDO, Metrobank, RCBC, AUB, UnionBank
Technical Sheet
- Licence
- SEC-licensed broker-dealer (DragonFi Securities Inc.); active PSE trading participant
- Markets
- PSE stocks and mutual funds (DragonFi Lite: PH stocks only)
- Platforms
- DragonFi web and mobile app; DragonFi Lite
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
BPI Trade
Bank-backed broker for BPI customers
- No minimum investment to open
- Run by BPI Securities, part of the BPI group
- Fund via BPI app, InstaPay, PESONet, GCash or Maya
- Clear pricing: 0.25% or ₱20, whichever is higher
About BPI Trade
BPI Trade is the online brokerage of BPI Securities Corporation, part of one of the country's largest banking groups. Its biggest advantage is convenience for existing BPI customers, who can move money from their bank account to their trading account in a few taps, but funding also works through InstaPay, PESONet, GCash and Maya. There is no minimum to open an account. Pricing is simple and transparent: 0.25% or ₱20 per trade, whichever is higher, plus VAT and exchange fees. Keep an eye on the settlement account: if its average daily balance drops below ₱500, a ₱250 monthly charge applies.
Pros & Cons
Pros
- No opening minimum and easy funding for BPI customers
- Transparent pricing with a ₱20 minimum commission
Cons
- ₱250 monthly charge if the settlement account falls below ₱500 average balance
- Funding process is being changed, so check current steps before depositing
Fees & Funding
- Minimum Deposit
- No minimum to open; ₱500 average daily balance on the settlement account
- Commission (PSE Stocks)
- 0.25% or ₱20, whichever is higher, + 12% VAT
- Account & Withdrawal Fees
- ₱250 monthly charge if the settlement account falls below ₱500 average daily balance
- Funding Methods
- BPI online/app transfer, InstaPay or PESONet from other banks, GCash, Maya
Technical Sheet
- Licence
- SEC-licensed broker-dealer (BPI Securities Corporation); active PSE trading participant
- Markets
- PSE stocks
- Platforms
- BPI Trade web platform and mobile app
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
Philstocks
Online and broker-assisted PSE trading
- ₱5,000 to start, fully used to buy shares
- Free deposits at BDO and BPI branches
- Online and broker-assisted accounts
- Standard 0.25% commission with ₱20 minimum
About Philstocks
Philstocks is a long-running Philippine online broker that offers both self-directed online trading and broker-assisted accounts, a useful combination for investors who sometimes want to speak to a person before placing an order. The ₱5,000 opening amount is not a balance requirement: it is simply used to buy your first shares. Commissions follow the market standard of 0.25% or ₱20, whichever is higher. Funding relies mainly on banks: deposits at BDO and BPI branches and BDO online transfers are free, while some bills-payment and ATM channels cost ₱25. GCash and Maya do not appear among the official funding options.
Pros & Cons
Pros
- Free branch deposits and BDO online transfers
- Online and broker-assisted trading with one broker
Cons
- GCash and Maya not listed among official funding channels
- Some bills-payment and ATM deposits cost ₱25
Fees & Funding
- Minimum Deposit
- ₱5,000 (used to buy shares, not a balance requirement)
- Commission (PSE Stocks)
- 0.25% or ₱20, whichever is higher, + VAT
- Account & Withdrawal Fees
- Branch and BDO online deposits free; some bills-payment and ATM deposits ₱25
- Funding Methods
- BDO and BPI branches or online, UnionBank bills payment, BancNet ATM, remittance
Technical Sheet
- Licence
- SEC-licensed broker-dealer (Philstocks Financial, Inc.); active PSE trading participant
- Markets
- PSE stocks
- Platforms
- Philstocks online trading platform (web); broker-assisted accounts
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
International Brokers for Global Markets
If you want US stocks, global ETFs or forex, the brokers below accept clients from the Philippines. They are regulated abroad, not by the SEC Philippines, so check which entity will hold your account and confirm local funding options before depositing.
Not included: Exness (named in a SEC Philippines advisory in January 2026) and Capital.com, which does not accept residents of the Philippines.
Interactive Brokers
Real US and global stocks for Filipino investors
- Own real US and global stocks and ETFs, not CFDs
- Access to 175+ market centres from one account
- Listed and part of the S&P 500
About Interactive Brokers
For Filipino investors who want to own US or international shares and ETFs directly, rather than trade CFDs, Interactive Brokers is the most complete option in this list. One account reaches more than 175 market centres, and commissions are among the lowest available anywhere. The trade-offs are practical. Funding works by international bank wire, so there is no GCash or Maya, and the platforms take some getting used to. Like every foreign broker on this page, Interactive Brokers is not registered with the SEC Philippines, and clients are served by one of its international entities.
Pros & Cons
Pros
- Real stock and ETF ownership on 175+ markets
- Very low commissions ($0.005 per US share, min $1)
Cons
- No GCash or Maya: funding by international bank wire
- Not registered with the SEC Philippines
Interactive Brokers in the Philippines
- Accepts PH Residents
- Accepts clients from 200+ countries; confirm eligibility at signupVerify
- SEC Philippines
- Not registered with the SEC Philippines
- GCash / Maya
- No — international bank wire only
Fees & Funding
- Minimum Deposit
- $0
- EUR/USD Pricing
- Commission-based: 0.20 bps of trade value (min $2), no spread mark-up
- US Stock Commission
- $0.005/share, min $1 (IBKR Pro Fixed); $0 on IBKR Lite (US residents)
- Inactivity Fee
- None (no maintenance fee)
- Withdrawal Fee
- One free withdrawal per month; then e.g. USD 10 / EUR 8 by wire, 1 by ACH/SEPA
- Funding Methods
- Bank wire and electronic transfers (ACH, SEPA, BACS); checks in the US
Technical Sheet
- Founded
- 1977 (brokerage since 1993)
- Headquarters
- Greenwich, Connecticut, USA
- Regulators
- SEC, CFTC, FINRA (US); FCA; Central Bank of Ireland; ASIC; CIRO; SFC; SEBI; MAS; Kanto LFB (Japan)
- Markets
- Stocks, ETFs, options, futures, forex, bonds, funds — 175+ market centres
- Platforms
- IBKR Desktop, Trader Workstation (TWS), Client Portal, IBKR Mobile, GlobalTrader, IMPACT, APIs
- Max Retail Leverage
- 1:30 on major FX for retail clients (EU/UK/AU entities)
- Account Currencies
- 29 trading currencies (varies by entity)
- Demo Account
- Yes — free paper trading account
- Customer Support
- Phone, email and live chat — 24/5, plus limited Saturday hours
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
XTB
Accepts Philippine residents via XTB International
- Philippines on XTB International's accepted-country list (2026)
- Listed on the Warsaw Stock Exchange
- Free demo account with no expiry
About XTB
XTB is a European broker listed on the Warsaw Stock Exchange, and from March 2026 the Philippines is on the short list of countries whose residents can open an account with XTB International. That entity is regulated by the FSC in Belize, so protections are lighter than for XTB's European clients, and the offer centres on CFDs across forex, indices, shares and commodities on the xStation 5 platform. Swap-free accounts are available outside Europe. Funding runs through cards, bank transfer, Skrill and Neteller. GCash and Maya are not listed.
Pros & Cons
Pros
- Officially accepts Philippine residents (2026 country list)
- Swap-free accounts available for clients outside Europe
Cons
- Served by an offshore entity (FSC Belize), with lighter protection
- GCash and Maya not listed among funding methods
XTB in the Philippines
- Accepts PH Residents
- Yes — via XTB International (country list from March 2026)
- SEC Philippines
- Not registered with the SEC Philippines
- GCash / Maya
- Not listed — cards, bank transfer, Skrill, Neteller
Fees & Funding
- Minimum Deposit
- $0
- EUR/USD Pricing
- Spread-only on CFDs (0% commission)
- US Stock Commission
- 0% up to €100,000 monthly turnover, then 0.2% (min €10)
- Inactivity Fee
- €10/month after 12 months without trading and 90 days without deposits
- Withdrawal Fee
- Free above $50; $30 below (international entity)
- Funding Methods
- Bank transfer, cards, Skrill (2%), Neteller (1%)
Technical Sheet
- Founded
- 2002
- Headquarters
- Warsaw, Poland (XTB S.A., Prosta 67)
- Regulators
- FCA, CySEC, KNF, CNMV (branch), FSC Belize
- Markets
- Real stocks & ETFs, CFDs on 50+ FX pairs, indices, shares, ETFs, commodities and crypto; spot crypto (CySEC clients)
- Platforms
- xStation 5 (web, desktop), XTB mobile app
- Max Retail Leverage
- 1:30 retail (EU/UK); up to 1:500 via international entity
- Account Currencies
- EUR, USD, GBP
- Demo Account
- Yes — free, no expiry (web and app)
- Customer Support
- Live chat, phone and email — 24/5
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
Pepperstone
Multi-platform CFD broker for active traders
- MT4, MT5, cTrader and TradingView in one place
- No inactivity fees
- Raw spreads from 0.0 pips on the Razor account
About Pepperstone
Pepperstone is a strong choice for active Filipino traders who already use MetaTrader, cTrader or TradingView and want tight pricing on forex and CFDs. The Philippines is among the client locations Pepperstone serves, and there are no inactivity fees, which suits traders who step away from the market for a while. Third-party guides report GCash and Maya deposits, but this is not documented on Pepperstone's own site, so confirm the options in the client area before funding. Keep in mind that this is a CFD-only offer and that Pepperstone is not registered with the SEC Philippines.
Pros & Cons
Pros
- Wide platform choice: MT4, MT5, cTrader, TradingView
- No inactivity or account-keeping fees
Cons
- CFDs only, with no real share ownership
- Not registered with the SEC Philippines
Pepperstone in the Philippines
- Accepts PH Residents
- Yes — Philippines listed among Pepperstone client locations
- SEC Philippines
- Not registered with the SEC Philippines
- GCash / Maya
- Reported by third-party guides — confirm in the client areaVerify
Fees & Funding
- Minimum Deposit
- $0 by bank transfer (about £10 by card/Apple Pay)
- EUR/USD Pricing
- Razor: raw from 0.0 pips + $3.50/lot per side; Standard: commission included in spread
- US Stock Commission
- US share CFDs from $0.02 per share
- Inactivity Fee
- None
- Withdrawal Fee
- Free, except international bank transfers ($20)
- Funding Methods
- Cards, Apple Pay, Google Pay, bank transfer
Technical Sheet
- Founded
- 2010
- Headquarters
- Melbourne, Australia
- Regulators
- FCA, ASIC, CySEC, BaFin, DFSA, CMA (Kenya), SCB (Bahamas)
- Markets
- 1,350+ CFDs: forex, indices, shares, ETFs, commodities, crypto
- Platforms
- Pepperstone platform (web & app), MT4, MT5, cTrader, TradingView
- Max Retail Leverage
- 1:30 on major FX for retail clients (EU/UK/AU entities)
- Account Currencies
- AUD, USD, EUR, GBP, SGD, HKD
- Demo Account
- Yes
- Customer Support
- Phone, email and live chat — 24h Mon–Fri, 18h at weekends
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
AvaTrade
Copy trading and fixed spreads for beginners
- Copy trading via DupliTrade and AvaSocial
- Fixed spreads on major currency pairs
- Regulated in eight jurisdictions
About AvaTrade
AvaTrade appeals to newer Filipino traders who want to learn by following others: DupliTrade and AvaSocial let you copy experienced traders, and fixed spreads on major pairs keep costs predictable. Sources disagree on local funding. Some guides list GCash and PayMaya, while at least one Philippine-focused review reports bank transfer only, so check this directly before opening an account. AvaTrade also charges dormant accounts sooner than most rivals, with a quarterly fee after three months of inactivity, so it is best suited to people who plan to trade regularly. It is not registered with the SEC Philippines.
Pros & Cons
Pros
- Copy trading via DupliTrade and AvaSocial
- Predictable fixed spreads on major pairs
Cons
- Inactivity fee after 3 months plus a yearly admin fee
- Local e-wallet support disputed between sources
AvaTrade in the Philippines
- Accepts PH Residents
- Reported yes by third-party guides — confirm at signupVerify
- SEC Philippines
- Not registered with the SEC Philippines
- GCash / Maya
- Disputed — some sources list GCash/PayMaya, others bank transfer onlyDisputed
Fees & Funding
- Minimum Deposit
- $100
- EUR/USD Pricing
- From 0.9 pips, no commission (spread-only)
- US Stock Commission
- No commission — cost built into the CFD spread
- Inactivity Fee
- $50 per quarter after 3 months; $100 yearly admin fee after 12 months
- Withdrawal Fee
- None
- Funding Methods
- Cards, bank wire, Skrill, Neteller (by country)
Technical Sheet
- Founded
- 2006
- Headquarters
- Dublin, Ireland
- Regulators
- Central Bank of Ireland, ASIC, FSA Japan, FSCA, KNF, ISA (Israel), ADGM, BVI FSC
- Markets
- Forex and CFDs — 250+ instruments
- Platforms
- AvaTrade WebTrader, AvaTradeGO, MT4, MT5, AvaOptions, AvaFutures
- Max Retail Leverage
- 1:30 major FX (EU retail); 1:25 (Japan)
- Account Currencies
- USD, EUR, GBP, AUD (by entity)
- Demo Account
- Yes — 21 days
- Customer Support
- 24/5, 14+ languages
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
NAGA
Social trading app built around copy trading
- NAGA Autocopy: copy other traders automatically
- 4,000+ instruments in one app
- Listed in Frankfurt (The NAGA Group AG)
About NAGA
NAGA is built around social trading. Its Autocopy feature mirrors the trades of selected lead traders in real time, and the app combines a community feed with access to more than 4,000 instruments. The group behind it is listed in Frankfurt and merged with CAPEX.com in 2024. Third-party guides report that NAGA accepts Filipino clients and supports GCash and PayMaya, but several practical details, including the minimum deposit and any inactivity fee, are not clearly published on its own site. Treat it as a copy-trading tool rather than a long-term investing account. Like the others in this section, it is not registered with the SEC Philippines.
Pros & Cons
Pros
- Copy trading is the core of the app (NAGA Autocopy)
- Wide instrument range in a single mobile app
Cons
- Minimum deposit and inactivity fee not clearly published
- Not registered with the SEC Philippines
NAGA in the Philippines
- Accepts PH Residents
- Reported yes by third-party guides — confirm at signupVerify
- SEC Philippines
- Not registered with the SEC Philippines
- GCash / Maya
- GCash and PayMaya reported by third-party guides — confirm in the appVerify
Fees & Funding
- Minimum Deposit
- No minimum on first deposit (EU); $250 indicated for IRON account (global)
- EUR/USD Pricing
- From 1.1 pips (standard levels) to 0.7 pips (top VIP level), no commission
- US Stock Commission
- Stock CFDs: no commission (spread only); real stocks €0.99 per transaction
- Inactivity Fee
- $50/month after 3 months of inactivity (client agreement)
- Withdrawal Fee
- Free (bank or card provider may charge)
- Funding Methods
- Cards, wire and direct bank transfer, 20+ alternative methods by country
Technical Sheet
- Founded
- 2015 (launched as SwipeStox)
- Headquarters
- Hamburg, Germany — The NAGA Group AG, listed in Frankfurt
- Regulators
- CySEC (EU, also registered with Romania's ASF), FSCA, ADGM FSRA, FSA Seychelles
- Markets
- 4,000+ instruments: forex, stocks and ETFs (real or CFD), indices, commodities, crypto, futures
- Platforms
- NAGA web app, NAGA mobile app, MT5
- Max Retail Leverage
- 1:30 on major FX for retail clients (EU entity); higher on offshore entity
- Account Currencies
- USD, EUR, GBP, PLN + crypto (NGC, BTC, ETH, BNB)
- Demo Account
- Yes — on web and mobile app
- Customer Support
- Live chat, phone, email — Mon–Fri 07:30–02:00 (EEST)
Data last checked: . Conditions vary by country and entity — always confirm with the broker.
Frequently Asked Questions (FAQ)
Is it legal to trade with foreign forex and CFD brokers in the Philippines?
No foreign forex or CFD broker is registered with the SEC Philippines. The SEC has advised the public to stop trading forex and CFDs through unregistered foreign platforms, and it periodically names specific brokers in public advisories. Many Filipinos still use international brokers, but they do so without any local investor protection. This page is not legal advice: if in doubt, check the SEC’s advisories or consult a professional.
How much does it cost to buy Philippine stocks?
Online commissions at the local brokers above are typically 0.25% of the trade value, often with a ₱20 minimum. On top of that you pay 12% VAT on the commission, a 0.005% PSE fee and a 0.01% SCCP clearing fee. When you sell, a 0.1% stock transaction tax also applies, reduced from 0.6% on 1 July 2025. Broker-assisted orders placed by phone cost more, usually 0.5% to 0.75%.
Can I fund my account with GCash or Maya?
Among local brokers, COL Financial, First Metro Securities and BPI Trade list GCash and Maya as funding options. DragonFi and Philstocks rely on bank channels such as InstaPay, PESONet and bills payment. For international brokers, information is inconsistent: some third-party guides report GCash or Maya deposits for Pepperstone, AvaTrade and NAGA, but this is not clearly documented by the brokers themselves, so always confirm in the client area before depositing.
Which brokers has the SEC Philippines warned against?
Recent SEC advisories include Exness Global and HF Markets (January 2026), XM (2024) and OctaFX (2023), among many others. The SEC warns that people acting as agents or recruiters for unauthorised platforms can also face penalties. Before opening an account with any foreign broker, search its name on the SEC’s website for current advisories.
Do I pay tax on investment gains in the Philippines?
When you sell PSE-listed shares through a local broker, the 0.1% stock transaction tax is withheld automatically. Gains from foreign brokers, forex or CFDs are not covered by that mechanism and may need to be declared as income. The rules depend on your situation, so it is worth speaking to a qualified Philippine tax professional.
About the Author – Claudio Tuteri
Economist and Founder of CT Advisory24, an independent project focused on broker analysis, financial education, and transparent comparison of regulated brokers.
Claudio defines the evaluation methodology, reviews broker rankings, and ensures consistency across analyses based on regulation, costs, platform quality, and investor protection.