Hey everyone, I'm new to the world of Forex trading and I'm trying to find a reliable broker to start with here in the Philippines. I've been reading a lot about Exness online, and it seems to have mixed reviews. Some people praise its low spreads and instant withdrawals, while others are wary due to the lack of local regulation specifically from the Philippines Securities and Exchange Commission (SEC). I'm a complete beginner, so I'm looking for a broker with a user-friendly platform and good educational resources. I don’t want to dive into something I don’t understand. My main concern is the safety of my funds. I don’t have a ton to invest starting out. Has anyone in the Philippines had experience with Exness, especially as a beginner? What are your thoughts? Is it a good choice, or should I look elsewhere? What specific account types are best for those just starting out? Any advice would be greatly appreciated. I just want to get started with a reputable broker.

Thanks in advance!

Hey, I've been trading with Exness for a few years now, and I can share my experience from a Philippine perspective. You're right to be cautious as a beginner, especially regarding regulation. While Exness isn't directly regulated by the SEC in the Philippines, they do hold licenses from reputable international bodies like the FCA (UK) and CySEC (Cyprus). This provides a degree of security, but it's always wise to do your own due diligence. For a beginner, I'd recommend starting with their Standard Cent account. It allows you to trade with smaller lot sizes, reducing the risk of significant losses while you learn. Their platform is reasonably user-friendly, especially MetaTrader 4 (MT4), which Exness offers. MT4 has been around for a while, so there are tons of tutorials and resources available online.
Focus on learning basic technical analysis, risk management, and how to use the trading platform. Don’t just blindly follow signals or "expert" advice. You may want to research a company, such as, https://broker-ex.com.ph/ to compare to Exness. Also, take advantage of Exness's educational materials, but remember that no single broker is perfect. Start small, manage your risk, and focus on learning the ropes. Don't rush into live trading with large amounts of money until you are comfortable with the process.

Wow, thanks so much for the detailed response! I really appreciate you sharing your experience and the advice about the Standard Cent account. I’ll definitely start with that and focus on learning the basics before putting too much money on the line. Knowing they have those international licenses does make me feel a bit better. I'll check out that link to compare. Thanks again!