Forex trading is rising rapidly in all parts of the world these days and we have to say that the Philippines did not miss out on this trend as well. The main reason why Forex trading has become such a lucrative way to earn money online is that we are dealing with the biggest market in the world in terms of size and liquidity, and what’s more, the daily trading volume is more than 6.5 trillion dollars here. So, if you have ever dreamt of making money in the comfort of your home without having to do any physical work, then Forex should certainly be a perfect destination for you. However, keep in mind that building a successful trading path is not so easy here and you need to educate yourself about the market on a daily basis.
The initial task of trading includes finding reliable brokerage firms that provide high-quality services. In the simplest of words, brokers are financial resources that connect buyers and sellers all over the world and provide a safe place in order to carry out trading procedures. You will come across dozens of brokerage platforms online and it is important to pick out the most suitable one based on your requirements. You have to ask yourself the most important questions before opting for certain platforms – what kind of account type do you want? What is the minimum/maximum possible deposit? and so on. Due to the fact that we encounter a lot of scammers in the Forex market, the first and foremost thing you have to do upon entering the website is to check whether the broker is licensed by trustworthy regulators or not.
By doing so, you will prevent becoming a victim of false websites where scammers try to deceive people, especially beginners, in the hope of stealing their funds. The excellent news is that expert traders have decided to establish a platform where they would rank certain Forex brokers based on several aspects. The main reason behind this decision was to make it possible for novice traders to easily pick out the most appropriate options for them. One of those websites is called investfox which was launched only a few months ago but has managed to gain huge popularity very soon and user engagement has been tremendous so far. They have developed their own methodology, which is used to rank Forex brokers by specific rules and give them points.
In this guide, we will rely on their methodology and list the five best Forex brokers that are worth the attention of the Philippines traders. The list includes – XM, AvaTrade, Capital.com, Pepperstone, and Tickmill. We are going to thoroughly describe each of them and note every important reason why you should select them.
XM
We would like to start with one of the most popular Forex brokers called XM which was launched in 2009 but has managed to retain enormous customer engagement ever since. This broker offers transparent and secure trading that unites Forex, CFDs, commodities, indices, energies, stocks, and metals. As you can tell, there are great possibilities on this platform and most importantly, keep in mind that every user is treated equally here irrespective of their net capital holdings or the size of their investments. Due to this very reason, there are a total of 5 million XM users today and the trading volume exceeds 2.4 billion dollars on a daily basis here.
Hence, it should come as no surprise that XM has been nominated for various rewards throughout these years and in fact, it has won the majority of them. What’s more, the payment system is highly protected on this platform, so feel free to deposit funds without any worries.
AvaTrade
The next one on our list is AvaTrade, which is one of the oldest brokers operating in the Forex market for more than 15 years now. As of today, over 300.000 traders are registered on this platform and the number is increasing rapidly day after day. Given the fact that AvaTrade has managed to remain one of the top brokers that offer high-class services all these years, we have to say that their team certainly consists of well-educated professionals. Hence, you will be able to experience unique services as there are nearly 1000 trading instruments including Forex, indices, cryptos, commodities, and stocks.
When it comes to trading software, we have to highlight that AvaTrade provides some of the best resources such as MT 4 and MT 5 as well as WebTrader. Most importantly, this software is accessible with all kinds of devices, including laptops, tablets, and smartphones. So, you can trade on this platform in the comfort of your home whenever you wish!
Read AvaTrade review on investfox
Capital.com
Despite the fact that Capital.com is a brand-new Forex broker compared to the other platforms on our list, we have to say that it has quickly attracted a vast number of traders worldwide. There are a lot of reasons behind such a huge involvement, but mainly because it is constructed with a user-friendly interface in order to help novice traders navigate effortlessly here. Also, there are absolutely no commissions and you will come across market-leading spreads here. Most importantly, you will have the opportunity to trade some of the most popular commodities, indices, cryptos, shares, and currency pairs.
Considering all the above-mentioned beneficial attributes, it should be no surprise that Capital.com contains more than 500.000 customers from all parts of the world and the daily trading volume exceeds 530$ billion here. Lastly, keep in mind that you will encounter the industry’s leading trading softwares such as MT 4 and MT 5 on this platform, which you can access with any type of device including laptops, smartphones, and tablets.
Read Capital.com review on investfox
Pepperstone
If we are talking about top-class Forex brokers, Pepperstone should certainly be on the list. This platform was established in 2010 and has served all kinds of traders with tremendous success so far. The developers had in mind to launch a reliable platform for people in order to execute trades in the global markets, and we have to note that Pepperstone has certainly served this purpose excellently so far. You will run into some of the best trading softwares here, including MT 4, MT 5, and cTrader in order to ensure the highest quality of performance.
When it comes to trading instruments, you have the possibility to trade Forex, commodities, and CFDs here. Most importantly, the platform offers super-fast executions, low commissions, and raw spreads in order to help you achieve desired results all the time. In case you are willing to stay on the platform for a long time and become a loyal member, then you will be eligible for VIP services in Pepperstone where there are tremendous awards for high-volume trading! Hence, it is certainly worth getting your hands on this Forex broker!
Read Pepperstone review on investfox
Tickmill
Last but not least, the Forex broker on our list is called Tickmill, which is a member of Tickmill Group and offers a wide range of high-quality services to every visitor. It has been operating in the financial industry for many years now, and we have to say that the results have been tremendous so far. Tickmill has never lost a course of stable growth throughout these years with the help of professional employees and immense experience in the field.
You will be able to take advantage of more than 180 trading instruments. which is one of the highest numbers. What’s more, spreads are as low as 0 here, and Tickmill includes very low commissions compared to other platforms. It gives novice traders the opportunity to test out different trading strategies such as scalping, EAs, and hedging and see which one is suitable for them in the future. Also, this broker provides super-fast executions as they only need 0.2 seconds on average! As you can tell, all the high-quality services are waiting for you here!
Read Tickmill review on investfox
How investfox Rates and Ranks Forex Brokers
As we have mentioned earlier, investfox has developed its own ranking system for Forex brokers that helps people easily pick out the best options. They have certainly brought innovation to the Forex market by awarding points to brokerage firms based on various aspects such as safety, assets, fees, account opening, trading software, support, research, and mobile experience. Each aspect is divided into several categories and rewarded with a different amount of points depending on the quality and quantity. Let’s examine each of them and see how investfox reviews Forex brokers and scores them.
The first and foremost aspect is obviously safety. It is crucial for every Forex broker to be licensed by top regulators, or else you are dealing with a scammer. investfox has awarded most points to those companies that are partnered with highly reputable regulators such as FCA, CFTC, ASIC, and so on. Average and Low trust regulators came in second and third places here.
The next aspect is assets which comprise currency pairs, stocks, cryptos, and CFDs. investfox ranks Forex brokers with maximum points for a variety of the above-mentioned resources. Also, a very important attribute of the best platforms is a lack of inactivity fees as well as spreads that start with as low as 0.
What’s more, investfox awards most points to brokers that provide various trading accounts as well as the industry’s leading trading softwares such as MT4, MT5, and cTrader. By doing so, they ensure to provide the highest quality to every user.
Finally, we want to point out that investfox thinks that the top Forex brokers should have excellent customer service, educational departments, and mobile compatibility! Every platform that qualifies for these characteristics should be rightfully considered the best Forex broker in the entire market!
