- Filipino Traders Guide
- What led to the near collapse of the binary options market?
- Traders in The Philippines
- Best Binary Options Trading Brokers for 2020
- Licensing And Regulation
- What is a Binary Option and How Do You Make Money?
- Mobile And Tablet Trading
- Bonuses And Incentives
- Ph pcurl binary option
- Customer Help And Support
- Broker Fees And Tax
- Binary Options
- Best Binary Option Strategy
- Filipino Licencing
- Subscribe to RSS
- Login to Website using cURL & PHP
- How we Recommend Brokers
- How to trade binary options
- Frequently Asked Questions
Filipino Traders Guide
Updated Dec, 2019Category - World96 Views Today
Most Asian countries, including the Philippines, are excellent places to trade binary options.
More and more brokers are marketing their services to countries like the Philippines; it is a huge growth market.
What led to the near collapse of the binary options market?
Filipino traders have a lot of choices, and there are many safe and secure trading platforms to start investing your money. Many of these offer demo accounts and great bonus deals to help you learn to trade.
Compare Top Rated Sites
In this article, you will learn:
- The binary options brokers best for you
- What local payment methods are accepted
- Taxes and fees that apply to PH residents
Traders in The Philippines
Binary options trading is growing in popularity in countries like the Philippines.
As well as the larger nations like China and India, smaller countries like Indonesia, Malaysia and Singapore, are also becoming more familiar with this type of investment trading and what it has to offer.
Best Binary Options Trading Brokers for 2020
Are binary options legal in the Philippines? Yes, it is perfectly legal to trade using this method.
There are now many brokers local to these countries, and more are popping up all the time. Some of the brokers that you will find in the Philippines have staff who were once traders themselves, and this means they have the experience to know what traders want.
But what should you look for in a broker and how do you know which one to choose?
Licensing And Regulation
While you may prefer to trade with a local broker that is licensed and regulated by the central bank of the Philippines, foreign binary option brokers such as Olymp Trade and IQ Option also have to be regulated before they can operate there.
What is a Binary Option and How Do You Make Money?
Whichever option you choose, make sure they are licenced.
Mobile And Tablet Trading
Ease of use and being able to trade on the go are critical to many of you who want to be able to use online brokers, wherever you are.
Look at whether the broker offers a mobile version of its trading platform or at least a mobile responsive website and that you can trade from any device you own.
Bonuses And Incentives
Binary option bonuses are a great way to make your money go further.
If you are a new trader, a no deposit bonus is a no-commitment way to try trading before you risk your funds. For other, more experienced traders there are lots of standard deposit bonuses and also other incentives to keep you trading.
Ph pcurl binary option
Look for a decent free demo account as these are great to practise on.
Customer Help And Support
If you have a question or a query regarding trading, or something to do with your account, you need to ensure that you can get help. Check to see what forms of support the best binary options broker offers and how easy it is to get in touch.
You may be unsure about whether or not to choose a local broker or whether in fact to follow the bright lights of a foreign broker with all of the fantastic incentives they have to offer. Whichever you choose you will be wise to do your research and follow the recommendations of a professional service like ourselves.
Todays Top Traders
Broker Fees And Tax
What are the cost implications for trading and how much of your returns will be yours to keep?
For those of you that are new to binary trading, the Philippines has a few rules and things you need to consider.
The first is the fees that you will incur for trading. Now the commission fee for successful trades is usually taken before you receive your profit, but there are other fees you need to be mindful of:
- You may need to convert currency to trade with a foreign broker
- Credit card or e-wallet fees charged by your trading account provider
- Transaction fees for deposits and withdrawals charged by the broker
Once you have considered the online trading fees, you need to check out any tax implications.
Now different countries have different tax laws and in some nations, a second income could be taxed differently to profit from trading.
The most important thing is to keep a record of your trading, both losses and winnings as you can offset your losses against your winnings so that you only pay tax on the overall profits.
Best Binary Option Strategy
You also need to ensure that you declare the profits. Hiding it and then being discovered may lead to higher penalties. If you are unsure as to how much profit you have made, it is worth tracking your trading and keeping a log of all your actions.
Most countries have some set of regulations and laws when it comes to binary options trading. You can read many reports that the US is very strict and only allows local binary trading brokers to signup new customers. On the other hand in places like Cyprus and the UK, they aren't as severe although they have some of the best licenses in the industry.
With trading binary options in the Philippines, it is somewhere in between.
Subscribe to RSS
While there is no professional body as such to regulate online trading it is overseen but the country's central bank. Both local and foreign brokers must be controlled and allowed to solicit their services.
The trouble with having a bank regulating the industry is that it is not a foolproof system and while the local brokers may have undergone scrutiny it isn't always a guarantee that your money is safe. Sometimes it is better to look at the more effective licensing from bodies like CySEC which is more regulated and seen as a more reliable source.
You must also consider the currency that you are trading in and how that will work for you when withdrawing your winnings.
Login to Website using cURL & PHP
If you are still unsure about which brokers to trust and how to know which one best suits you then you can take a look at our recommendations, for Filipino traders we currently recommend Olymp Trade and IQ Option.
Asian countries like the Philippines are a favourite place to trade options.
How we Recommend Brokers
We want to ensure that you have the best binary options trading experience possible and will only put our name to brokers that we are incredibly confident recommending.
We vet, review, inspect and dissect every aspect of the brokers ensuring that they safe places for you to invest. We look not only at their licensing and regulation but also their history.
For example, how long have they been operating and what is their financial performance during that time.
We also look at the type of trading experience they offer from their website on the desktop to the mobile offering. With so many of you now wanting to trade on a mobile phone, it is vital that every broker has an easy to use responsive website or app.
Some even go so far as to cater to users of the Apple Watch with their bespoke app.
As well as the ease of use and trading experience it is also important to look at the incentives that each broker offers. If you are keen to try out a binary options broker before you commit, then you will be looking for a good demo account however if you prefer an attractive signup bonus, then many brokers offer different options.
There is also the consideration of minimum trades and how much you have to deposit. If you want to dip your toe, then you won't want to deposit as much as an experienced trader that has plenty of trading knowledge. By choosing one of our recommended brokers, you can be confident that you will be choosing wisely.
How to trade binary options
Frequently Asked Questions
Can I trade using my mobile or tablet device?
The best brokers will offer both a mobile website but also apps for any device from Android phones to Apple watches.
Again we select brokers to match your needs, and you are sure to find only the best.
Meet The Author
Shelly is proud of her current position as Head of Brand for a well-known organisation that owns several brokerages in the trading sector.
She’s consulted for us since 2015 and readers can benefit from her insider knowledge of how brokers work.