Forex and CFD Brokers Philippines
In the Philippines, the regulatory authority overseeing the financial services sector is the Bangko Sentral ng Pilipinas (BSP), which translates to the Central Bank of the Philippines. The BSP serves as the central bank of the Philippines and is responsible for the formulation and implementation of monetary policy. It aims to promote price stability and maintain a stable financial system in the country.
CFD stands for Contract for Difference. It is a popular derivative product that allows traders to speculate on the price movements of various financial instruments without owning the underlying asset. CFDs provide an opportunity to profit from both rising and falling markets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.