Phillippine Peso

Does anyone know of a broker where I can trade the Phillippine peso from the UK ?

Thanks

I dont know but you can see a chart usd/php. Maybe you can trade with them I dont know. To tell you the truth i don't know anything about them I just like to know what the usd/php is doing and i found they have a live feed.

I appreciate the reply but you don't mention which broker shows a chart

I've checked a few brokers that show a chart but unfortunately haven't found one that allows me to trade it yet.

Its not a forex broker thats why. Im pretty sure they are an investment firm. You can inquire with them through that website. Ill tell you what Ill poke around too, im curious if you can trade that pair anywhere with any kind of liquidity.

Ok I think I found it!!! Saxo bank. If you go to there website and sign up for free they will give you access to there streaming quotes and usd/php is there. http://www.saxobank.com/?id=44&Lan=E...gIdx=1&PgTot=1

I don;t know if this link will work but the usd/php is under fx then charts and prices then exotic.

I hope this helps

Thanks for the link !!

I'm not sure Saxo Bank offer this currency though. It's not listed on their rate page

http://www.saxobank.com/?id=1424&Lan=EN&Au=1&Grp=5

I've asked their customer support and we'll see what they come back with.

Hi, are you from the Philippines?

I am, and my worry is that if the pair is speculated on, it might undermine the economy of our already struggling nation (where a large majority live below the poverty line). Recently, there was a rice-crisis and who knows what added hardship the rising price of fuel would bring on?

Just my two cents.

maybe if there was more of an investing presense the phls wldnt be so poor. My wife is filapina and my heart goes out to her country (and yours). I feel something has to change for things to change there. So I think enstead of being afraid of speculation maybe embrace it and get on the map. just my 2 pips. As far as the rice shortage that is worldwide but I hear from her sister that it is bad there i hope things get better.

I'm not from the Philippines but my GF is.

I'm not actually interested in trading the PHP but my GF complains about the limited possibilities (and bad customer support) when she tries to send money to the Philippines.

I was looking for alternatives and potentially set-up my own money transfer business. :-)

try xoom (i think xoom.com) they are way way better than western union. the down side is your recipient has to wait a from when you send it to pick it iup. Or maybe you can get her a credit card that you can fund here as you need to. At one time I was considering paypal. there is good options you just have to be creative.

Check out Oanda as well. I think they've set up a global money transfer service, too.

Thanks for the suggestions

Xoom might be a decent solution even though it means two conversions for us (GBP->USD->PHP).

I already looked at Oanda; I have an account with them already. Unfortunately the don't support PHP.

PHP is perhaps the easiest to trade if you know the economic cycle in the Philippines.

During year-ends (Oct - Feb), Overseas Filipinos send their money to their relatives. Surely they also send almost every month; but during these mentioned months, money are sent in bigger volumes. Philippines is a Christian country observing Christmas as early as November and ending in mid January.

As these remittances dwindle, the importation season starts to pick up as well. Therefore, a higher demand for USD is seen driving USDPHP higher. By August/September, importers are in full gear for the Christmas sales. If you are an importer of toys, clothes, fruits (for christmas), you should have your stocks ready for distribution to retail stores before christmas season starts.

Dont bother with the export economy. Philippines is a big time net Importer.

Buttom Line: Buy PHP mid year; Sell PHP end of year.

I know of one MT4 Forex broker (in the Philippines) that allows trading of USDPHP. However, I prefer you NOT to trade with them. Other than the fact that this broker charges a HUGE amount of spread, they also charge a huge amount of commission to kill you. Moreover, Forex Trading is illegal in the Philippines; how in hell is this company even open for business. Like someone above had mentioned: speculating the value of PHP is illegal (classified as economic sabotage, etc...)

Many PI banks have a remittance service. You might want to check out their delivery options. Take a look at their websites.