Best Dragonpay Brokers 2023

Dragonpay is an online payment service provider in the Philippines. It allows traders who do not have access to banks to make purchases through a digital account and mobile app. Cash can also be withdrawn without using a credit card. This review will cover everything you need to know about trading with Dragonpay, from service fees and account charges to speed and security. We’ve also listed the best brokers that accept Dragonpay deposits below.

Dragonpay Brokers

These are the 6 best brokers that accept Dragonpay deposits and withdrawals:

#1 - Fusion Markets

Fusion Markets is an Australian-regulated broker that offers low-cost forex and CFD trading. Copy trading, 1:500 leverage plus multiple account types are also available, catering to short-term traders of different experience levels and budgets. New clients can sign up and start trading in three straightforward steps.

"We recommend Fusion Markets for traders looking for ultra-low fees, with spreads from 0.0 pips and a $2.25 per side commission. There's also an excellent range of charting platforms and auto-trading tools, including MT4, cTrader and DupliTrade."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
  • Regulator: ASIC, VFSC
  • Platforms: MT4, MT5, cTrader, DupliTrade
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500


  • Fusion Markets offers free US share investing with leverage up to 1:20
  • Day traders can enjoy below-average commissions from $2.25 per side, plus spreads from 0.0 pips
  • The broker offers a proprietary copy trading solution, alongside the popular DupliTrade tool


  • There are limited educational materials, videos or training resources compared to alternatives
  • There's no loyalty scheme for high-volume traders looking for discounts or additional perks

#2 - NordFX

NordFX is an offshore CFD broker offering forex, stock, commodities, indices and crypto trading with leverage up to 1:1000. Traders access markets through the MetaTrader 4 platform and benefit from low commissions, spreads from zero and decent extra features. Minimum deposits start from just $10, which will appeal to newer traders.

"NordFX's biggest advantages are available to upper-tier account holders, so this is a good option for experienced, higher volume traders looking for ECN, zero-spread trading."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, commodities, cryptos, stocks
  • Regulator: St.Lucia
  • Platforms: MT4
  • Min. Deposit: $10
  • Min. Trade: $1
  • Leverage: 1:1000


  • Excellent trading terms on the 'Zero' ECN account with a low $500 barrier for entry
  • Promotions including client referral bonus and lottery giveaway
  • Respected broker with a long track record


  • Spreads starting from 2 pips on the standard account type are wider than many competitors
  • Not regulated by any reputable organization
  • Relatively lightweight instrument list with only around 100 markets

#3 - Anzo Capital

Anzo Capital is an offshore broker that offers leveraged CFDs on 100+ instruments including forex, stocks, indices and metals. The MetaTrader 4 and MetaTrader 5 platforms are supported, and traders can choose between an STP account with spreads starting from 1.4 pips and zero commission, or an ECN account with a $4 round-turn commission and spreads from zero. A decent range of payment methods are accepted, including crypto deposits.

"Anzo Capital will suit traders looking for highly leveraged CFDs with the flexibility to choose between STP and ECN accounts."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Precious Metals, Stocks
  • Regulator: FSC, SVGFSA, FCA
  • Platforms: MT4, MT5
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:1000


  • Several languages supported
  • Spreads as low as zero pips on forex, oil and silver
  • MetaTrader 4 platform


  • Inactivity fees
  • Limited asset range
  • Week regulatory oversight

#4 - Global Prime

Global Prime is a multi-regulated trading broker offering 150+ markets. Traders can get started with a $200 minimum deposit and trade with leverage up to 1:100. The firm also has a high trust score and a good reputation with a license from the ASIC.

"Global Prime is suitable for both beginners and seasoned traders with excellent market access, low fees and a range of tools including copy trading."

- DayTrading Review Team
  • Instruments: Forex, indices, commodities, cryptocurrencies, shares, bonds
  • Regulator: ASIC, VFSC, FSA
  • Platforms: MT4, TradingView, AutoChartist
  • Min. Deposit: A$200
  • Min. Trade: 0.01 Lots
  • Leverage: 1:200


  • Wide range of deposit options with zero fees
  • ECN account
  • Trade receipts


  • Narrow range of account options
  • No MetaTrader 5 integration
  • Clients from US and Canada are not accepted

#5 - FXPrimus

FXPrimus is an award-winning CySEC-regulated brokerage offering CFD trading on 200+ instruments via the MetaTrader 4, MetaTrader 5 and cTrader platforms. The choice between a competitive commission-free account and two affordable raw spread options make this an accessible broker for anyone seeking forex, stocks, indices and commodities with high leverage.

"FXPrimus's platform support, fast execution, raw spread/commission-free accounts and copy trading support make it a good all-rounder for beginner and experienced forex traders."

- DayTrading Review Team
  • Instruments: CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
  • Regulator: CYSEC, MIFID, ICF, FCA, BaFin, VFSC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $15
  • Min. Trade: 0.01 Lots
  • Leverage: 1:1000


  • Copy trading support through a PAMM function allows beginner or time-poor traders to earn money from experienced pros
  • Excellent range of accepted funding methods with 12 accepted currencies, e-wallet and international banking options, and fees covered by the broker
  • Reputable broker with years of awards makes FXPrimus a credible broker


  • High $8 MT5/$10 MT4 commissions on the Primus Pro account
  • This broker does not accept traders from the US
  • Relatively small range of assets, with just 45+ forex pairs

#6 - FP Markets

FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.

"We recommend FP Markets for forex and stock traders with 70+ currency pairs and an impressive 10,000+ stocks available as CFDs."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto
  • Regulator: ASIC, CySEC, ESMA
  • Platforms: MT4, MT5, cTrader, AutoChartist, TradingCentral
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (UK), 1:500 (Global)


  • Tight spreads available on both the standard and raw spread account
  • Good range of additional tools and features including educational content, Myfxbook and Autochartist
  • Bespoke copy trading platform


  • Does not accept US customers
  • $55 subscription fee on IRESS accounts
  • Withdrawal fees for some payment types

What Is Dragonpay?

Dragonpay is a digital payment provider established in 2010. It was set up in response to the need for an alternative transfer solution for consumers and businesses who do not have access to traditional banks and payment methods like PayPal.

The company’s mission is to provide convenient and accessible forms of payment to Filipinos around the world. The brand aims to be the driving force for e-commerce and e-banking in the Philippines.

Best Dragonpay brokers

Since being set up in 2010, Dragonpay has become an accepted form of payment at many corporations and merchants. These include 7 eleven (7/11), Shopee, Fatima University, other schools, Netflix gift cards, NBI Clearance and Kimstore. The transfer solution is also popular among Filipino traders. Brokers such as FP Markets, Fusion Markets, NordFX and FXPrimus all accept the payment method for deposits and withdrawals.

How Dragonpay Works

Customers top-up funds in their accounts and then use the cash to make payments. Account deposits can be made via a variety of methods including GCash, LBC, Metrobank, Bigo recharge, PayPal, PayMaya, BDO, BPI, Xendit, Bayad Center and ECPay.

Another way to use the transfer solution is through the Dragonpay credits app. This allows traders to buy prepaid credits which can then be used to make payments.

Clients can access the transfer solution through the website or they can install the mobile app. The application is available to download for Android (APK) on the Google Play store, but it is not available on iOS devices.


There are services: Dragonpay Lite and Dragonpay. The former is free to set up but comes with a 20 Php transaction charge for all channels except PayPal and selected e-wallets. There is a 10,000 Php limit per transaction and a daily transaction limit of 100,000 Php.

The full version of Dragonpay has a 36,000 Php one-time setup fee. Users then get access to all online banking and other payment channels like GCash. Transaction rates vary between 10, 15 and 20 Php depending on the channel. With the full version, there are no limits per transaction or daily transaction limits.


Dragon Pay is fast. The network processes transactions immediately, and as a result, deposits at many brokers are instant. It provides much quicker deposit times than traditional methods like bank transfers, which can take one to two business days. This is ideal for traders, as it means they can deposit funds and start trading assets such as cryptos and stocks right away.

Withdrawals are slightly different. They tend to take longer and there is more variation between online brokers. Whilst Dragonpay processes the payment instantly, brokers often have compliance checks and other processes that they need to follow before payment is released. As a result, most withdrawals using Dragonpay take between 24 hours and two days to appear in accounts.

The company can also process refunds. Clients must ensure they have the relevant reference numbers, tickets and receipts ready when submitting a request. It can take up to two weeks to receive refund payouts.


Dragonpay uses industry-standard Secure Socket Layer (SSL) technology to protect user data. This is the same encryption technology used by most financial institutions worldwide to prevent hacking and other security scandals. Online banking IDs and passwords are never stored.

The company also ensures that all transactions are verified. A tracker is used to make sure all payments are sent from and go to the correct addresses. All payments then run through a separate verification process.

Overall, the brand is a reputable and secure method for transferring money to broker accounts. Users, whether in the Philippines or abroad, can trust the company to make sure payments are sent and received safely.

How To Make Dragonpay Deposits & Withdrawals

Follow these instructions to make a payment:

  1. Firstly, either go to the Dragonpay website or follow the instalment instructions for the mobile application.
  2. Next, sign up for an account and complete the registration process. Fill in all the required information and upload the necessary verification documents.
  3. Sign in to your new account with your login details, usually your email and password.
  4. Deposit funds into your account using one of the supported payment channels.
  5. Go to your desired broker that accepts Dragonpay deposits and withdrawals.
  6. Head to the payments section in the broker’s account area.
  7. Select Dragonpay from the list of payment options.
  8. Login to the payment portal through the website or app and enter the amount you wish to deposit or withdraw.
  9. Confirm the payment details.
  10. You should receive a notification when the transfer is complete.

Dragonpay trading payments


The main benefits of using the payment solution for trading include:


Our research flagged several potential drawbacks to trading with the payment solution:

Final Word On Trading With Dragonpay

Dragonpay is a popular payment method in the Philippines. Fees are low and transactions are processed instantly, perfect for traders who want to start investing. Use our list of brokers that accept Dragonpay deposits to get started.


Is Dragonpay Available 24 Hours?

Dragonpay can be used 24/7. The support team is available between 8:00 (PSP) and 18:00 PSP on weekdays and 9:00 (PSP) and 18:00 (PSP) on weekends.

How Do I Pay With Dragonpay?

Making payments is simple. Users can visit the app or website, or they can select the transfer solution as the preferred method on broker websites.

How Do I Use Dragonpay?

Sign in to the company website or download the mobile app to get started. Follow your broker’s payment instructions to make deposits and withdrawals.

How Do I Top Up On Dragonpay?

Users can top up their accounts on the website or mobile application. A wide selection of popular payment channels can be used to top up funds.

Do All Trading Brokers Accept Dragonpay?

No, not all brokers accept the payment solution. You can check for details in a broker’s payment area or you can use our list of platforms that accept Dragonpay deposits to get started.