Selecting your next online stock broker remains a difficult challenge. Many factors come into consideration with active trading or longer-term investing: asset type, ease-of-use, security, research availability, investor education, automated alerts, fees, and much more. Selecting the best stock broker for a Philippines resident particularly requires a close look at the available choices for American and European products–in essence, international reach.
Any stock broker in the Philippines not only needs to satisfy the basics of tight security, excellent investor education, and low-cost fees, but the blend of global investing options. This is why we’re here. We love to sift through the noise and find the best choices out there.
This article presents our take on the top three, best stock brokers in the Philippines. Let’s get to it.
Best Stock Brokers in the Philippines for 2022
Interactive Brokers | Best all-around app
Interactive Brokers (IBKR) is a global online stock broker blending beginner and advanced trading tools across the web and mobile platforms. Founded in 1978, it offers an incredible array of products ranging from stocks to futures to currencies, access to over 150 different markets, and provides multiple trading apps.
Saxo Bank | Best for research
Saxo Bank is a Denmark-headquartered online stock broker also touting a significant international reach and a highly sophisticated trading platform. Founded in 1992, it offers a similarly large scope of available products, award-winning trading platforms, and superb research, yet with relatively higher fees.
Capital.com | Best for CFDs
Capital.com is a UK-headquartered online CFD broker offering trading opportunities across an impressive array of asset classes: forex, indices, cryptocurrencies, commodities, and equities. Founded in 2016, it offers an advanced mobile and web platform alongside a top-notch news feed, although it’s a young company.
#1 Interactive Brokers
Interactive Brokers at a glance
For our pick of the best stock broker in the Philippines, look no further than Interactive Brokers. Its track record spans over 40 years and through several financial crises, providing a sense of trust and security, particularly for those whose trading comprises a significant portion of their earnings.
Here’s what’s great about IBKR: an extraordinary range of products, low trading fees, low margin rates, superb research tools, trading apps for advanced or beginning investors, and several base account currency options. However, deposits in the Philippine Peso (PHP) are not accepted–but USD is available.
IBKR also features two mobile apps: IBKR Mobile for advanced users and IBKR GlobalTrader for everyday trading. GlobalTrader is well designed, available in several languages, and is a joy to use.
IBKR remains regulated by many authorities across the globe, including household names such as the US Securities and Exchange Comission (SEC), UK’s Financial Conduct Authority, and the Central Bank of Ireland. In other words, not only is it one of the best stock brokers in the Philippines, it’s also one of the safest options.
If you have the time, we recommend you to check out our comprehensive Interactive Brokers review.
IBKR is ideal for wide-ranging market access and many trading options coming with leading web and mobile platforms. This comprehensive offering earns it spots on our list of the best stock brokers in the Philippines.
- Leading number of products
- Great web and mobile platforms
- Low fees
- Learning curve with the web platform
- Less responsive customer service
#2 Saxo Bank
Saxo Bank at a glance
For our runner-up, we easily choose Saxo Bank. Touting a track record of 30 years and similarly through the crises of the last decades, Saxo offers a premium feel and design to be expected from the best stock brokers in the Philippines.
Here’s what’s great about Saxo: a solid product range (commodities excluded), an incredible trading platform, leading research reports, low forex and fund fees, and a perfect mobile app. Unfortunately, deposits in the Philippine Peso (PHP) are not accepted–but USD is available.
Here’s what you need to consider: the minimum deposit is elevated at $10, option commissions start at $10 per trade (100 contracts), inactivity fees apply, and stock trading fees are also high. Saxo is not a discount broker. Instead, it focuses on providing a tech-heavy trading platform alongside in-depth research.
Saxo features three trading platforms: SaxoInvestor, SaxoTraderGO, and SaxoTraderPRO. Each app builds upon the former in terms of available tools and sophistication–with SaxoTraderGO being an award-winning choice.
The company remains regulated by many authorities, including UK’s FCA and Switzerland’s FINMA.
Saxo is ideal for in-depth research and many trading options coming alongside superb mobile apps. Overall, we can confidently call this option the second-best stock broker in the Philippines.
- Solid product range
- Excellent mobile platforms
- Leading in-depth research
- High custody fees
- Very high trading fees
Capital.com at a glance
Capital.com is an online CFD broker providing exposure to currencies, indices, commodities, cryptocurrencies, and stocks. Founded in 2016, it’s a London-headquartered company with additional offices located in Australia, Cyprus, Seychelles, and Gibraltar.
Here’s what’s great about Capital: a streamlined mobile trading app available in many languages, no account fees, no inactivity fees, low forex fees, and commission-free real stock trading (EU/UK only with the mobile app).
Here’s what you need to consider: the minimum deposit is high, stock index CFD fees are high, and CFD trading is risky. Generally, more than 80% of retail investor accounts lose money when trading with Capital.com. If you still wish to trade with them, we encourage you to check out our comprehensive guide on CFDs.
The company remains regulated by UK’s FCA, Cyprus’ CySEC, Australia’s ASIC, and Seychelles’ FSA.
We also have a comprehensive Capital.com review available for you.
Capital.com is ideal for experienced traders who want to engage in CFD trading. From a CFD-perspective, it’s definitely one of the best stock brokers in the Philippines.
- Solid CFD choices
- Good mobile platform
- No non-trading fees
- High stock index CFD fees
- Real stock trading not available to Philippine residents
How to Choose a “Best” Stock Broker in the Philippines
Choosing a “best” stock broker in the Philippines requires careful analysis and due diligence. This is why we have created a website just for this purpose with over 30,000 visitors monthly.
Our process involved reviewing these essential requirements from the perspective of a Philippines resident:
- Range of products available, including international reach
- Ease-of-use, evaluating both the web platform and mobile apps
- Trading and account fees, including those fees hidden by trading spreads
- Track record and history of the online stock broker
- Quality and quantity of the research available
- Quality of relevant regulators
The bottom line
To sum it up, these are our top picks:
Best Stock Brokers in the Philippines
Selecting the right broker is a challenging task, but it’s done successfully every day. Each trading platform stands unique to the other, as are your trading objectives and needs. We make it our business to sift through the platforms available to residents of the Philippines so your search can be easy, and, most of all, fun.
Whether you’re an up-and-coming trader or an experienced investor, we hope this article answered your questions and eased your concerns with online stock trading. One final tip: consider opening a demo account–which is often available–and test the features of your prospective stock broker first.
Who are the best stock brokers in the Philippines?
Choosing an online stock broker remains a personal decision of aligning your objectives with the particular strengths of the relevant trading platform. However, there are some attributes to look out for, which we’ve covered above. Please review the section: “How to Choose a “Best” Stock Broker in the Philippines.”
Do stock brokers in the Philippines accept the Philippine Peso (PHP)?
Yes, there are brokers which do accept PHP. However, we place a key emphasis on international reach which offers much lower fees. International brokers tend to prefer USD or EUR.
Where should a beginner invest?
A beginner should place greater emphasis on educational material, research, simplicity, and low account fees.
Is trading hard to learn?
No, with the right learning material and the right stock broker, trading can be exceptionally easy to learn. It simply takes a bit of time and practice. Demo accounts are exceptional for this purpose.
Which broker should I use if I’m experienced?
Both Interactive Brokers and Saxo Bank offer “advanced” trading platforms offering a range of trading tools and options. A veteran user should opt for a broker which provides the necessary tools, although they may not come from a discount broker.