Binary Options Trading in Philippines
Binary Options Trading in Philippines
As binary options trading has grown in popularity around the world, so has the Philippines. Although there are no locally licensed brokers, offshore binary options brokers create lots of options for traders. Know more about Binary Options Trading in Philippines.
If you are searching for a binary options broker in the Philippines, we will help you choose one with all the features you need for a reliable and best trading experience.
Take a Look: The Best Brokers for Trading Binary Options in the Philippines
Searching for the best binary options trading platform as a Philippines can be complex. With such a mix of genuine and scam brokers competing for the local market, it is not surprising that there have been a few scams along the way. But this has not dampened the appetite for digital options trading.
We’ve listed the best binary options trading in Philippines sites to let you trade Binary Options and Digital Options as a Philippines trader.
Binary Options Trading in Philippines – How did we make this trading list?
You will find different kind of binary options trading platforms in the market. However, it isn’t easy to distinguish between scammers and legitimate ones. To ensure the decision easier, we have compiled a trading list of the best binary options trading platforms.
To make this list, we have considered the following.
Top 5 Best Binary Options Brokers of 2021
- Best Trading Platform: Pocket Option
- Best for CFD Trading: IQ Option
- For Beginners: Binary.com
- Best for Forex: Olymp Trade
- Best for Mobile Trading: ExpertOption
- Maximum Profit: 96%
- Minimum trade: $1
- Minimum deposit: $50
- Assets: 100+ Crypto, Stocks, Commodities, and Currency Pairs
- Platform: Web, Android, iOS, and Windows
- Minimum deposit: $10
- Max Payout: 95%
- Minimum trade: $1
- Assets: Over 250+ Crypto, Currency Pairs, Stocks, Commodities
- Demo Account: Yes
- The minimum deposit is just $5
- The minimum trade is $1
- Maximum Payout: 85%
- Assets: Commodities, Indices, Currency Pairs, and Synthetic Indices
- The Minimum Deposit is $10
- Minimum trade: $1
- Max Payout: 92%
- Assets: ETFs, Stocks, Commodities, Indices, Currencies, Cryptocurrency
- Demo Account: Yes
- Minimum deposit: $10
- Minimum trade: $1
- Maximum Profit: 95%
- Assets: Stocks, Commodities, Crypto, and Forex
- Demo Account: Yes
Binary Options Trading in Philippines – Pocket Option
If you’re watching for a binary broker that caters to customers worldwide, including the USA and Europe, then online trading Pocket Option is one of the best options available.
- The Maximum Profit is: 96%
- Minimum Deposit: $50
- Minimum Trade: $1
- Assets: 100+ Crypto, Stocks, Commodities, and Currency Pairs
- Platform: Web, Android, iOS, and Windows
When you are searching for a binary options broker, you should know what they will offer. While assets, account types and payments are essential, you also want to know how to secure your funds.
Who controls each broker is also important, as it can tell the difference between a reputable, reliable broker and losing funds in a scam.
Binary Options Trading in Philippines – IQ Option
IQ Option is known as one of the most popular binary options brokers worldwide, and they are also available in the Philippines. Emerging in the online trading binary options market in 2012, they are the oldest brokers on our list. Moreover, they are the most reliable, as evidenced by the Cyprus Securities and Exchange Commission (CySEC) regulations.
Their online trading platform is available as both a web-based setup and a mobile platform for Android and iOS and they use in-house software to maintain it. Through this trading platform, you can trade an impressive 500+ assets, including:
- Stocks
- Cryptocurrencies
- Commodities
- Forex
- ETFs
When you start trade on any of these assets, you have a 98% chance of getting a payout. All you need to open a trading account is a minimum initial deposit of $ 10
The IQ option gives you two choices for account types
Here are the tow types of accounts
- Real
- VIP.
A real account can give you access to all of their assets so you can trade right now. However, if you’re not ready yet to take that leap, you can open an IQ Option demo account, which pays you $ 10,000 in a virtual fund to practice trading before actually joining.
A VIP trading account gives you a significant upgrade, along with your higher investment. You just need $ 10 for a real account. Of course, you also need to deposit at least $ 3,000 to get all the extra features to be a VIP. But it may seem worthwhile considering you get a personal account manager, financial analysis from experts and unlimited trading opportunities.
IQ Option Customer Support
Their customer support is always accessible. Although they are limited to many countries, such as the United States, they are available in more than 151 countries (including the Philippines) and 13 languages worldwide.
Binary Options Trading in Philippines – Expert Option
Compared to IQ options, Expert Options is a new binary options broker, which entered the market in 2015. They are regulated by the Center for Financial Market Relations (FMRRC), the Vanuatu Financial Services Commission (VFSC), and the Regulation Center. Financial Market Relations (CROFR). While not as compelling as the CySEC or Financial Conduct Authority (FCA) regulations, the three regulatory bodies overseeing their activities tell you that they are committed to trade security.
Their 32 million traders trust them to keep their funds safe from their base in Grenadine. Moreover, the Philippines is one of the 151 countries that offer specialist options, and they have a positive reputation in the binary options broker market.
Expert Option gives you the choice of five trading account types:
- Basic: A minimum $50 deposit gives you access to all assets
- Silver: A minimum $500 deposit gives you asset access, plus free trading consultations
- Gold: Minimum $2,500 deposit gives you free trading consultations and additional investment tips
- Platinum: Minimum $5,000 deposit gives you the most you can get with assets alone, including free account management, advice, and online trading analyses from experts
- Exclusive: Expert Option doesn’t provide as many details about this account tier, and that’s because it’s by invitation only. However, you get unlimited open deals, up to $3,000 from a single deal, and up to 6% increased asset profits.
You can also try their demo account, but it may not prepare you for the real binary options market, which is much less predictable than this practice version. However, once you join the real trading market, you have access to over 100 CFDs, cryptocurrencies, indices, stocks, forex and commodities.
With up to 95% payout, Expert Options makes deposits and withdrawals easy with over 20 payment types. However, the withdrawal process usually takes up to two days.
Binary Options Trading in Philippines – Olymp Trade
The Online Trading site Olymp Trade entered the binary options market in 2014 and since then, they have received numerous awards that speak to their credibility and trader satisfaction. Regulated by CySEC, they are internationally popular brokers.
Their websites, platforms, and educational services are available in eight languages - all the languages their trades speak, they claim on their websites. This includes traders from the Philippines.
Olymp Trade does not give you many resources to choose from other binary options brokers like IQ Options or Expert Options. They have only 60 as opposed to hundreds or even 100. Yet, their excellent customer service and excellent reputation carry year after year to merchants and they claim that the amount of payouts through their platform increases by 7% per month.
Binary Options Trading in Philippines – Is Olymp Trade Safe?
At the moment, their maximum payout with a VIP account is 92%, when you get 80% on a standard account — and these are your only two account options besides their demo account. So even though Olymp Trade’s website and platform are user-friendly, starting a demo can be a good thing. It gives you free$ 10,000 in virtual funds so you can explore their platform before committing to an official account.
A standard account gives you all the basic information along with your $ 10 initial deposit. Also, you get educational materials, so if you are a beginner, you don’t have to worry about entering without knowledge. You also have access to analytical tools that make it easier to improve your trading strategy and make higher payments.
With a $ 2,000 minimum deposit, the VIP account is a significant upgrade. You get personalized advice, risk-free trading, personal webinars, and exclusive trading strategies with all the standard account features. So if you look at your trading game, the VIP account will be your best bet once you pass the beginner level.
Despite the low-income options, Olymp Trade is a reliable choice for both new and seasoned traders. As you trade, they will take you to the next level, and you will improve your skills as you go along.
Binary Option Licensing and Regulation System
Binary options trading are Legit for anyone over 18 in the Philippines, but such trading is still regulated to reduce scams and security issues. The Philippines Financial Services Authority oversees binary options regulation, ensuring that all brokers meet their guidelines and standards.
Since there are no local brokers in the Philippines, you will need to go through a binary options broker affiliated with Offshore if you plan to trade. That said, you have of options, whether you want to trade with IQ options in Cyprus or specialist options in St. Vincent and the Grenadines.
Binary Options Trading in Philippines – Bonuses
Although many binary options brokers do not offer a deposit bonus, more recent regulations prevent licensed brokers from doing so. As a result, you may be able to receive the initial bonuses offered by these brokers when you sign up for an account. Even then, after that, there is no running bonus incentive from any reputed broker.
This is because binary options are risky, and many traders lose money after entering the market. So brokers will offer bonuses that keep traders trading and invest more money to get more bonuses.
As regulators embrace this practice, they begin to ban bonuses that deceive traders into losing more money. If you see a broker offering this type of bonus, they are probably not reputable. When it comes to securing your funds, it’s best to stick with people you know who are correctly controlled and protected. Binary Options Trading in Philippines gives traders best bonuses trough trading.
Binary Options Trading in Philippines – Deposits and Withdrawal Methods
When searching for a binary options broker, one of the essential aspects to consider is how simple it is to deposit and withdraw funds. Many brokers offer payment methods like:
- Credit cards
- Debit cards
- Bank wire transfer
- Cryptocurrencies
- E-wallets
Ideally, you want one that adopts many payment methods. For example, Expert Options adopts all the methods listed here, giving you different ways to raise and withdraw funds based on your personal preferences.
In addition to the payment methods, you should pay attention to how long it takes for your funds to reach your account, whether you are depositing or withdrawing funds. If possible, the funds deposited should be credited to your account immediately.
Most binary options brokers say that your funds will reach your account within three days of raising funds. Some brokers, such as IQ Option, process your funds within 24 hours, whereas expert options take up to 48 hours. If quick funding is essential for you, check the individual broker’s website to ensure you have a reasonable amount of funds.
Final Thoughts
Although binary options trading is not available in all region. It has become progressively common in the Philippines. These brokers are regulated based on The Filipino standards, and while they are all offshore brokers, there are reputable brokers in the Philippines to help you start your trade more efficiently.
Regardless of which broker you select, check their regulatory bodies and policies and make sure you understand what they have to offer. If you live in the Philippine, you have a growing number of choices, so explore all your options before committing to a broker.