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Forex Brokers in The Philippines (Forex Broker Sa Pinas)

poojim · 131 · 41637

DavidApol

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Newly Added brokers: Land Prime (FSPR), PSSForex, MetisEtrade. I wonder how's it going with the plans of IronFX and FXPrimus.

I just want to highlight MetisEtrade as the first forex broker headquartered in the Philippines and is certified by Bangko Sentral and regulated by PhilSec (search it at sec.gov.ph). They claim to be the first broker to allow trading using PHP paired with other currency thought it's MyFinancialBet (of London Capital Group; though they are closed already) - but for a metatrader broker, yes they suppose to be (I have a demo account but trading with a pair having PHP does not yet exist)! They offer both MT4, MT5 and binary option platform. They also accept multiple base currencies (USD, EUR, PHP, JPY, AUD, GBP, HKD, CHF). MT4 setup superfast! Smallest spread I've seen at 0.3 though I am not sure yet if this is ECN and if there's commission charged per lot. They also have the so called "Money Changer" account which allows you to convert currencies quicker, easier and more secure (as they claim). MetisEtrade trading accounts are interest bearing accounts at 2.3% annually. Minimum deposit at P10,000 (more or less $250). My first impression - impressed! (though pricing is 3 digits only on both MT platforms, no live support at present).

Website looks like windows 8. They are hiring traders actually.

They also invite traders on their office like Admiral Markets (pakape-kape).

@jensky, why don't you try Admiral Markets, they provide seminars from time to time. I had several invitations from them but I don't go.

Thank you for the feedback on MetisEtrade! FYI, money can be withdrawn from MetisEtrade via BPI, BDO, or MBT. Once we receive the withdrawal form, it takes only 30 minutes to 1 hour for us to credit your bank account. The withdrawal fee is ALWAYS FIXED at 50 PHP.

FYI


For more info on the spreads: http://www.metisetrade.com/index.php/forex?menu=s-forexconditions

For further questions, please contact me.

apolonio.david@yahoo.com
09178072979


poojim

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Update: Eastern Markets has been added. GFI Group details filled.

Land Prime offers PHP base currency for accounts through deposits via Tongyang bank in Makati.

Expecting to be added soon: FXVV, XEMarkets, IronFX, FXPrimus, WorldWideMarkets, Mayzus (UWCFX).

I heard that Tradesto Ltd. has call center operations here in the Philippines too.


DavidApol

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Update: Eastern Markets has been added. GFI Group details filled.

Land Prime offers PHP base currency for accounts through deposits via Tongyang bank in Makati.

Expecting to be added soon: FXVV, XEMarkets, IronFX, FXPrimus, WorldWideMarkets, Mayzus (UWCFX).

I heard that Tradesto Ltd. has call center operations here in the Philippines too.
Wow, I hope forex becomes a widely accepted profession/sideline in the Philippines soon, and a lot of Filipinos invest their time to study the largest financial market in the world :)


poojim

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Wow, I hope forex becomes a widely accepted profession/sideline in the Philippines soon, and a lot of Filipinos invest their time to study the largest financial market in the world :)

I also hope that way.  Sir David.


XM (XEMarkets/Trading-point) CEO is coming to  Manila


Quote
The CEO of XM, Constantinos Cleanthous, who will be leading the Great Asia IB Tour, would like to invite existing partners and potential Introducing Brokers to meet in Manila, Philippines.

The XM Asia Tour 2013 is part of the XM World Tour in 40 countries where we will be meeting partners and announce our new products and services.

Registration: http://www.xm.com/asia-tour


BernadetteFXP

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poojim

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Anyone interested to trade with FXPrimus? I can help you..

FXP have office here already too?

XEMarkets coming to Manila on Nov 12.


tatsulok

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IronFX - The new office of the company is located in the center of Manila City, inside the BA Leapnto Buiding at Paseo de Roxas Avenue.

baka hindi pa na post. padagdag na lang.


esorb

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Newbie here. Just like to ask which Forex Broker you recommend. And what is the advantage and disadvantage of local broker vs international broker? Thanks in advance


observerfx_scam

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Newbie here. Just like to ask which Forex Broker you recommend. And what is the advantage and disadvantage of local broker vs international broker? Thanks in advance

Newbie here too, need guidance from the pros...
I made several inquiries from my Stock Broker COL and they told me that ALL FX brokers listed at the start of this thread (Admiral Markets, etc. and etc.) are ONLY representative offices or liaison offices such that their local SEC registration in Phils is only a sort of an Information OR Servicing / Consultancy office only.
In effect our funds is held in the offshore bank accounts of such principal broker instead of being held in a local bank unlike the Stock brokers, so my a bit worrisome.
There is NO local SEC registered FX Broker why?
Accordingly it is still fine if an FX Broker is overseas if there is a Filipino owner (or part-owner) whom we can ran after when there are problems especially on funds or withdrawals problems, is it correct?
Of course it is really better if there is a 100% Filipino-owned FX Broker.
Please advice, thank you.


pinoyfx_trainee

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Newbie here. Just like to ask which Forex Broker you recommend. And what is the advantage and disadvantage of local broker vs international broker? Thanks in advance

Me too looking for a trustworthy or pinoy owned forex broker, any suggestions mga bro?


pinoyfx_trainee

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FXP have office here already too?

XEMarkets coming to Manila on Nov 12.

Whats up with XE Markets in Philippines recently?

Btw these FX Brokers operating in Phils, do they have Filipino businessman partners we can rely on to secure our funds with them?


observerfx_scam

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Just did some research and it turns out there are NO Licensed LOCAL FX BROKERS in town because the SEC does NOT provide Margin Trading FX BROKERs such LICENSE to any entity locally, except to the banks FX desks as provided for by BSP and PDS special Licensing. ALL local offices of so-called FX Brokers are only representative or information center or a liaison office of an offshore-registered FX broker principal etc. etc.
There are LEGIT Inter-Dealer Brokers like Tullett Prebon, ICAP etc. but they are not margin-system trading and for full VALUE trading only for institutional clients only, not for retail like us folks..
Even the so-called FX DEALER License of *****E-Trade in Ortigas, as they claim to be BSP License, but its only a Foreign Exchange Dealer or Money Changer License and NOT a Margin Trading FX Broker License.
So folks WATCH OUT for such similar representations..
Actually its NO BIG DEAL whether an FX Margin Trading broker has a License or NOT what is important is you feel SAFE and secured with your money in that broker (LOCAL or OFFSHORE).
We will only feel more secured if ever in future there will be an FX Broker (whether local or offshore) owned and operated by a reputable Filipino businessman residing here locally (we can ran after easily) and adopting the new business model of Zero Commission and Tight Spreads so clients has better chances of making money and that money made is easily withdrawn...
According to a popular TV show...WISH KO LANG...


pinoyfx_trainee

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oberverfx_scam,

yun TZH sa Trident Tower daw has 2 of the 3 owners/directors already Filipinos, just dunno whether such Filipinos are respectable businessmen...what do you think?


observerfx_scam

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oberverfx_scam,

yun TZH sa Trident Tower daw has 2 of the 3 owners/directors already Filipinos, just dunno whether such Filipinos are respectable businessmen...what do you think?

TZH is not an FX Broker its only a Corporate IB of FXCM in Philippines.



dicktator

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hello mga forex pips. newbie lang ako dito. naghahanap din ako ng matinong forex broker. sa mga nabasa kong mga forum thread, i feel safe with oanda at metis. nag-try na ako mag open ng live account sa oanda pero ambagal nila magrespond sa application at di sumasagot sa email. haha.

sa metis naman, nakapasok na kasi ako sa office nila dati, nag-apply ako sa isang department nila (di sa trading). i feel safe kasi ambilis ng response nila sa live chat, di mahirap kontakin. i used to work sa sports betting industry at sa mga online transactions, importante ang customer service na di ka dededmahin. hehe.

i'm still waiting for oanda's response, kaso nagdadalawang isip na rin ako dahil mejo hassle para sakin yung payment methods nila. mas madali ata magpasok at magwithdraw sa metis, parang sa BPI trade at COL, madali lang para sa mga pinoy.

tsirs. sana dumami forex tradersa pilipinas.  :watchuthink:



 


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