Regulators： Securities and Exchange Commission (SEC)

Regulatory region： Philippines

License Type： SEC

Application price (USD)： ****

Application frequency： 4months

Maintenance costs (USD)： ****

Company summary： The foreign exchange market, also known as forex or FX, is a decentralized global market where currencies are traded. It is the largest and most liquid financial market in the world, with an average daily trading volume of over $6 trillion. In the Philippines, forex trading is gaining popularity among retail investors, but it is important to understand the regulations governing this market to ensure a safe and secure trading experience. The Securities and Exchange Commission (SEC) is the regulatory authority responsible for overseeing the forex market in the Philippines. It is tasked with protecting investors, maintaining fair and orderly markets, and promoting the development of the capital market.

Product details： In addition to the SEC, the Bangko Sentral ng Pilipinas (BSP) also plays a role in regulating the forex market in the Philippines. As the central bank of the country, the BSP is responsible for maintaining price stability and promoting a sound financial system. The BSP has implemented regulations to prevent money laundering and terrorist financing in the forex market. Forex brokers are required to implement robust anti-money laundering (AML) and know your customer (KYC) procedures to verify the identity of their clients and monitor their transactions for any suspicious activities. Furthermore, the BSP has imposed limits on the amount of foreign currency an individual can buy or sell without supporting documents. This is to prevent the illegal movement of funds across borders and ensure compliance with foreign exchange regulations. It is important for forex traders in the Philippines to be aware of these regulations to avoid any legal issues or financial losses. By choosing a license