Yes it is legal as long as you choose a regulated forex trading company. The philippines are known as a developing market for broker companies and the bsp makes sure that the locally registered brokers abide by rules and regulations.
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As the economy of philippines continues to grow there are more and more locals open forex accounts with foreign forex companies who offer them the best trading services.
Forex in philippines. Learn how to trade and the best forex brokers to use for 2019. The bsp allow the sale of fx products by authorized agent banks subsidiaries or affiliates to residents. On october 30 2018 the philippines securities and exchange commission sec issued its latest advisory stating categorically that forex trading is illegal in the philippines for context here are the highlights of that advisory.
Is forex trading legal in the philippines. Philippines is still among the developing countries in the world. The bangko sentral ng pilipinas bsp is the regulatory body in the philippines.
On the contrary the smartest investors search. However it does not mean opportunities are not there when it comes to investment. If you live in the philippines trading in the forex market has its own set of rules.
Forex in the philippines. Bsp stands for bangko sentral ng pili! pinas which is the local regulatory body for forex brokers in ! the country.
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