Are prop firms legit in the Philippines?
Prop trading is popular in the Philippines, and so are scams that copy it. Here's how to tell them apart.
Prop firms vs investment schemes
A real prop firm sells you a test on a demo account for a fixed fee and pays a share of profits if you pass. An investment scheme asks you to hand over money and promises returns. The Philippine SEC warns about the second kind often.
Why prop firms aren't SEC-registered
Because they don't take investments or deposits, prop firms typically aren't registered in the Philippines. That also means you can't turn to the SEC if a firm refuses to pay.
How to check a firm
Look for years in business, recent Trustpilot reviews and public payout records. Avoid 'account managers' who contact you on Facebook or Telegram.
Frequently asked questions
Is prop trading gambling?
It's trading on a simulated account with real rules and a fee. Treat the fee as money you can afford to lose.
Can minors join?
No. Firms require you to be at least 18 and verify your ID.