Best online brokers in the Philippines

Written by
Adam N.
Fact checked by
Updated
Apr 2024

To help you to find the online brokers in the Philippines in 2024, we went ahead and did the research for you. We collected all data you need to know about account opening, trading performance and fees of the best investment providers in the Philippines.

Best online brokers in the Philippines

Top 10 Online Brokers & Trading Platforms in the Philippines in 2024:

  1. Interactive Brokers is the best online broker and trading platform in 2024. Extremely low fees. Wide range of products. Many great research tools.
  2. XTB - Commission-free stocks and ETFs (for trades up to €100k per month). Free and fast deposit and withdrawal. Easy and fast account opening. High interest paid on cash.
  3. Trading 212 - Real stocks and ETFs are commission-free. Quick and easy account opening. Great trading platforms. Pays interest on uninvested cash.
  4. Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
  5. TradeStation Global - Low stock and ETF fees. Wide range of products. Easy-to-use web trading platform.
  6. Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
  7. Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.
  8. IG - First-class web trading platform. Superb educational tools. Great deposit and withdrawal options.
  9. CMC Markets - Low forex fees. Great web and mobile platforms. Advanced research and educational tools.
  10. Optimus Futures - Low trading fees and free ACH withdrawal. Great platform and research. Fast customer service.
Broker
Overall score
Minimum deposit
Interactive Brokers
4.9
/5
$0
XTB
4.8
/5
$0
Trading 212
4.5
/5
$1
Oanda
4.5
/5
$0
TradeStation Global
4.5
/5
$0
Admirals (Admiral Markets)
4.5
/5
$100
Forex.com
4.5
/5
$100
IG
4.5
/5
$0
CMC Markets
4.5
/5
$0
Optimus Futures
4.5
/5
$500
Brokers and trading accounts available in the Philippines

Ideally, after reading our research you should feel more secure about opening a trading account that fits you best.

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How to invest in stocks from the Philippines

1. Find an online broker

First, you need to make sure that the broker you're looking at is available in the Philippines.

Would you like to speed up your search?

Our broker finder tool will help you narrow down your choices, showing only those brokers that are available in your country and are suitable for your investment goals and habits. And if you want a detailed, side-by-side comparison of these alternatives, check out our broker comparison table.

2. Open your account

Opening an account at an online broker is usually easy and straightforward, and takes place fully online. Most of the time, you just need to provide your name, address and other basic information, and maybe answer some questions about your wealth/income status, financial knowledge or trading experience.

Make sure you have your documents at hand, as

  • copies of a photo ID
  • some recent bank statements
  • or utility bills

are usually required to verify your identity and residency.

3. Fund your account

So your trading account has been verified; the next step is to fund it – in other words, to deposit money that you will then use for investing. Some brokers require a minimum deposit when you open your account, but most brokers do not have such a requirement, allowing you to take your time before committing any funds.

All brokers will allow you to deposit or withdraw funds via bank transfer; an easy, usually free, though not always super-fast method. Withdrawing money to your bank account can take as long as three days.

Many brokers also let you deposit (though not withdraw) funds using credit or debit cards. A few will also accept so-called electronic wallets such as PayPal, Apple Pay, Skrill or Neteller. The biggest benefit of cards and e-wallets is that transactions take place instantly, allowing you to start investing – or reap the proceeds of a successful stock sale – right away.

4. Invest

You may already know which product you want to invest in; if not, it's worth checking out the research section of your broker, which often includes trading ideas and recommendations by in-house experts or third-party analysts.

Once you have settled on a stock, it's easy – just

  • select it from the broker's search menu
  • enter the amount
  • invest

Most trading platforms will offer several order types - such as a "Market" order to invest at the current price, or a "Limit" order to invest later at a specific price. To learn more about various order types, read this article.

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Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author image
Adam Nasli
Author of this article
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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