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6 Best Binary Options Brokers in the Philippines
Updated: January 09, 2024
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The best binary options trading platform in the Philippines is Quotex
Best Binary Options Trading Platforms in the Philippines 2024:
Quotex best for trading different classes of assets
IQcent best for trading CFDs and binary options
Pocket Option best for online trading on financial markets and risk diversification
VideForex best for beginners and experienced traders who want to trade on the financial markets
RaceOption best for trading currency pairs, stocks, cryptocurrencies, indices, commodities, and metals
Binary.com best binary broker for beginners with low minimum deposit
Making wise financial choices can be tricky in any market, but perhaps more so when starting out in an emerging space like binary options trading in the Philippines. With opportunity however also comes risk, so one must do their research to feel confident in both understanding the lay of the land as well as finding a trusted partner to guide the way. This article seeks to illuminate some of the top considerations and options for newcomers seeking to dip their toes in the exciting world of digital options.
By comparing key factors among leading platforms like minimum deposits, available assets, educational resources and more, readers can feel empowered in discerning the best fit for their goals and risk tolerance. For those with an interest in what binary trading could offer, let this in-depth review serve as a starting point on your journey to exploring the viable paths ahead.
Start trading Binary Options right now with QUOTEX!-
Who regulates binary options in the Philippines?
Currently there is no dedicated regulatory body that oversees binary options in the Philippines. Traders should check if brokers are regulated by international bodies instead.
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Is binary options trading legal in the Philippines?
While the law is hazy, binary options themselves are not explicitly prohibited. Trading with properly regulated international brokers that accept Philippine traders is considered legitimate.
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Is binary options trading profitable?
It can be, but it is also a high risk type of trading with no guarantees. Following an effective strategy and risk management plan is important to try and generate long-term profits.
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Do I pay fees to trade binary options?
Most brokers charge no trading fees but may apply withdrawal or currency conversion fees in some cases.
Top 6 binary trading apps in the Philippines
Researching binary trading platforms in the Philippines is not a waste of time because the binary options market is more lucrative and worth the stress. Although how successful you become as a binary options trader depends on your experience, knowledge, and investment capital, you need a top binary options broker. Your broker's terms will determine how much money you can expect to make from trading binary options.
Benefits of trading with the best binary options brokers in the Philippines
The best binary options brokers help traders mitigate risk and increase the appeal of binary options trading. And the payouts from binary options are higher than those from other investments, but the risk is also higher.
As a new or professional trader, binary options brokers offering a low minimum deposit and investment are top priorities. These binary trading platforms in the Philippines offer traders different incentives to reduce the rate at which losses may occur. Additionally, they provide demo accounts for traders to practice and get a first-hand feel for binary options trading.
And since there’s an expanding list of available brokers today, the table below will narrow down your choices to find the one that suits your preferences. Remember, only the best binary options brokers in the Philippines can help you avoid fraud when trading binary options. These brokers can reduce your losses and give your money some level of security.
| Broker | Minimum Investment | Assets | Bonuses | Open an Account |
|---|---|---|---|---|
$10 |
Currency Pairs, Stocks, Crypto, Commodities |
30% |
||
$20 |
Currency Pairs, Stocks, Crypto, Commodities |
Up to 50% |
||
$5 |
Currency Pairs, Stocks, Crypto, Commodities |
Up to $50 |
||
$50 |
Currency Pairs, Stocks, Crypto, Commodities |
Up to 50% |
||
$10 |
Currency Pairs, Stocks, Crypto, Commodities |
Up to 100% |
||
Binary.com |
$5 |
Currencies, indexes, stocks |
Quotex
Quotex is a Seychelles-based company. The company aims to combine effective tools with simple digital options. As a result, it provides a user-friendly interface, quick processing speeds, and trading signals and indicators. New traders can get started with a $10 minimum deposit and a joining bonus. Alternatively, there is a free demo account with $10,000 in virtual funds. Clients can use straightforward up/down binary options to speculate on stocks, currencies, commodities, and cryptos.
Quotex does not currently offer leveraged trading. While this may limit market access for some beginners, it can also curtail losses. Quotex offers binary options trading using its own proprietary platform. The trading account is opened in US dollars by default, but the clients can change the account currency at any time without paying the conversion fee. Money can be deposited and withdrawn with debit/credit cards, electronic payment systems, and cryptocurrencies. There are also no deposit or withdrawal fees. However, banks and payment systems may charge a transfer fee of 1-5%, as Quotex warns on its website.
👍 Pros
• No trading fees and no deposit, and account fees
• A simple and user-friendly trading platform designed for binary options trading
• Own brand online platform with an easy-to-use interface
• Affordable minimum deposit of $10 and no withdrawal fees
• Global access to different languages
• Unlimited trading signals
• Crypto payments
• 30% deposit bonus
👎 Cons
• Leveraged trading is not available
• No license of an international regulator
• There is no quality education and instruments for analysis on the website
• You cannot withdraw the deposit bonus
IQcent
IQcent is the premier online trading platform for retail clients looking to make a mark in the investing world. IQcent offers binary options and Contract for Difference (CFD) trading opportunities across several asset classes, such as forex, stocks, commodities, and cryptocurrencies. The minimum trade size is just 0.01 USD/EUR, and traders can leverage up to 1:500 with CFDs.
In addition to various financial instruments, IQcent also provides an extensive suite of payment methods with more than 10 supported options. The minimum deposit amount may vary depending on the type of account but goes from as low as $10 to $250 and $1,000. However, traders can't deposit lower than (USD/EUR) 5,000 for direct bank transfers.
IQcent offers an intuitive and useful proprietary web-based trading platform with several in-built indicators essential for making informed trading decisions, including momentum, relative strength, and average range. Depending on your needs and preferences, IQcent offers three types of binary options: turbo options, intraday options, and long-term options.
👍 Pros
• Low minimum deposit requirement of $10
• Commission-free trading
• Wide range of assets, including forex, cryptocurrencies, stocks, and commodities
• Multiple account types to choose from
• User-friendly trading platform with advanced charting tools and technical indicators
• 24/7 customer support
👎 Cons
• Limited regulation and oversight compared to more established brokers
• No demo account available for practice trading
• Limited educational resources for beginner traders
•Inactivity fees for accounts that are dormant for more than 90 days
• Withdrawal fees for some payment methods, such as bank transfers
• No mobile app
Pocket Options
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.
Pocket Option trading conditions are classic for the binary options market. You can trade currency pairs, stocks, commodities, and cryptocurrencies using a web platform, designed with the inherent characteristics of working with options in mind. The minimum initial deposit for all accounts is $50, but hereinafter the balance should be from $100 to $50,000 (depending on the profile). The Pocket Option minimum deposit is $1.
VideForex
VideForex was established in 2016 as a leading binary options and CFDs broker. It offers a reliable and secure trading platform suitable for both professional traders and beginners. With VideForex, you can trade different Forex currency pairs – Major, Minor, or Exotic -plus a dozen cryptocurrencies like Bitcoin, commodities like gold, and major indices like the Dow Jones 30 and S&P 500 through CFDs contracts. The maximum leverage allowed is 1:500, so you can take larger positions to increase your profits. With VideForex you have the advantage that your customer's loss is limited to their original investment amount multiplied by the leverage used. The remaining amount of equity will be protected from further risks - making it a very safe and trustable broker.
VideForex offers three types of trading accounts, each with unique benefits. The minimum deposit sits at $250 for the Bronze account. The platform provides a web platform and a convenient mobile app for users on the go.
👍 Pros
• Wide range of assets, including forex, cryptocurrencies, stocks, and commodities
• Small minimum trade size starting at $1
• Copy trading
•Cryptocurrency funding method
• User-friendly trading platform with advanced charting tools and technical indicators
• Commission-free trading
• Multiple account types to choose from, including a demo account for practice trading
• 24/7 customer support
• Offers social trading features
👎 Cons
• High minimum deposit requirement of $250
•Limited regulation and oversight compared to more established brokers
• Limited educational resources for beginner traders
•$10 Inactivity fee
Raceoption
RaceOption is an offshore CFD and binary options broker dedicated to providing traders with access to the financial markets. Through this platform, users can invest in more than 100 instruments, which include markets such as forex, indices, commodities, and stocks. When trading unleveraged crypto CFD assets on RaceOption, a fee between 1-2.5% based on the transaction value is applied. Leveraged crypto CFD positions are charged a 5% commission.
Clients should know that if they fail to execute at least one trade per calendar month, a $10 account service fee will apply afterward. Moreover, margin trading on this platform has different leverage levels depending on the asset type; cryptocurrency positions have a maximum of 1:30, while other instruments offer up to 1:100 in terms of leverage ratios.
With a $250 minimum deposit requirement, you can open a Bronze account and get started immediately. This platform helps simplify the trading process by offering
a binary options demo account and an easy-to-use mobile app, and you can opt for Turbo, Intraday, and Long Term Options.
👍 Pros
• Wide range of assets, including Forex, cryptocurrencies, stocks, and commodities
• Multiple account types to choose from, including a demo account for practice trading
• User-friendly trading platform and mobile app
•24/7 live video chat support
• Offers social trading features
👎 Cons
• Minimum deposit requirement of $250
•Limited regulation and oversight compared to more established brokers
• Limited educational resources for beginner traders
•Inactivity fees
Binary.com (deriv)
Binary.com is another reputed platform, which has an impressive history when it comes to trading. It was first operated in 1999, and since then, it has been only growing. As per the current reports, the company did a transaction of over $275M in 2019 and has a vision of achieving $377M in 2023. It is a highly user-friendly website with educative materials, which will help beginners get a better hold of things. The minimum deposit is $5, and trade starts from $1.
How do best binary trading apps compare?
There are numerous elements of binary trading Kenya that can be used to compare the best Filipino brokers. Here are some of the aspects that you can consider:
Licensing & Authorization
The best and recognized platforms have an authentic licence in practice, which is regulated by the reputable international regulators. These elements make them a reliable platform as they offer entirely transparent and beneficial services for their users. When you look out for binary options in the Philippines, it can be one of the areas where you need to put the highest focus. The ones controlled by the financial bodies must follow the strict terms and conditions without harming the users’ privacy.
Minimal Amount Deposit
The minimal amount you can deposit to the binary options is also one of the comparable aspects. Some top platforms offer the minimum account of $5-10. In simple words, being a beginner, you can start up with something small to learn before you sum up the money. Besides, you also upgrade your account on the binary platform when you understand its terms and how it works.
Reputation & Authentication
It is one of the best ways to compare binary options brokers in the Philippines. The top platforms have millions and thousands of active users who are registered members. It simply means that many people trust, time, and money. So, it is one of the best ways to compare its authenticity.
How to choose a binary broker in the Philippines
The stories of traders who have lost a lot of money to shady brokers is heartbreaking. And this tells you of the importance of making proper research before choosing a binary trading platform in the Philippines. Learning from other investors' mistakes can ensure you don't lose out on trades.
So to prevent falling into the trap of these shady brokers, conduct thorough research and choose a reputable broker to do business with. The binary options broker you pick will influence whether or not you achieve your desired results.
Binary options trading is profitable and simple, especially when you choose the best binary options brokers in the Philippines. However, when it is time to choose the best binary trading platforms in the Philippines, check if the broker accepts clients from the region you reside. Then, go ahead to consider the following factors:
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1
Consider the binary trading app ease of use and friendliness
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2
Search and identify all available assets
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3
Learn about the broker minimum deposit and investment for binary options trading
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4
Also, verify the availability of a demo account and how much you get to trade with on the account
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5
Find out if the broker offers its users bonuses and learn the conditions to get the bonuses and withdrawal protocols
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6
Again, check the ease of depositing and withdrawing funds and the steps and ease of opening an account
Is binary trading legit in the Philippines?
There are some indications that binary trading is unlawful, which raises doubts about its legality in the Philippines. Section 11 of the Securities Regulation Code currently forbids trading in binary options, Forex, and other speculative CFD instruments. However, the government of the Philippines is working towards providing support for these trades.
But trading with regulated brokers who offer genuine services in the Philippines is legitimate. This broker makes binary options trading easy for an option trader who understands the fundamentals of binary options trading.
The only option is to trade with an international broker because there are no active local binary options brokers in the Philippines. As a result, the investor must verify the legitimacy of a website after conducting adequate due diligence on it. This is a way to avoid shady scams in this largely unregulated market while binary options trading continues to gain popularity.
Is binary trading risky?
Yes, it’s risky but profitable if you have the nerve, skills, and experience that binary options trading requires. This market's first week of trading may be profitable, but there is no assurance. So be aware that you can lose twice that much the following week.
You must continue investing if you want to earn more from trading binary options, but be mindful of the amount you stake. And follow a trading pattern or strategy to be on a safer path in each trade.
Remember, it is high-risk and speculative because of the complexity of predicting a fundamental asset's short-term movements. And since you are betting on one outcome, if it goes south, you lose. The truth is that, up to 80% of the time, binary options traders lose money. However, only trade with a regulated broker if you intend to invest in the binary options market. And ensure to practice and test your trading skills with the broker's demo account before trading with your real account.
Does Anyone Make Money with Binary Options?Can I get rich in binary trading?
Yes, it's possible. Through this trading, you can make real money faster, earning up to 70-85% per trade, but it is a high-risk investment. However, binary trading requires a lot of practice. And it requires perseverance, time, and a well-structured plan or strategy.
Trading binary options is less stressful because you can simply make your predictions without considering any factors and still win. Trading binary options using this method is based on luck, and you can expect any outcome since you did not back your trade with any trading analysis or algorithms. However, you must have a certain condition or case that triggers you to predict the rise or fall in the value of an asset.
Remember that you will lose every dollar you wagered if your prediction is inaccurate. But if you are familiar with the intricacies of binary options trading, your prediction accuracy will improve, and you will rarely lose your trades.
Consider the following factors when trading binary options:
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Only trade with reputable and the best binary options brokers in the Philippines
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Your predictions should only be on assets that you know about
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Think about binary brokers that provide free demo accounts, develop better time-framing techniques for better outcomes, examine charts, and concentrate on the specific time frame that is most effective for you
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Ensure your strategies are in line with your time frame. Afterward, choose your "main" time frame
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And check the binary options brokers' payout ratio
Summary
In the Philippines, if you are at least eighteen years old, you can trade binary options, but this market is still regulated to prevent fraud and guarantee security. As a result, according to the Securities Regulation Code, trading in binary options is prohibited in the Philippines.
However, European websites let you trade in the binary options market and provide information for Filipino traders to forecast changes in the price of assets. And only the best binary trading platforms in the Philippines can guarantee you a safe and profitable trading endeavor.
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Team that worked on the article
Peter Emmanuel Chijioke
Contributor
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson
Developmental English Editor
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito
Cryptocurrency and stock expert
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).