The Philippines does not run a dedicated licensing regime for retail forex and CFD brokers, so brokers offering those products to the public without proper registration are operating in breach of the Securities Regulation Code. The SEC has named and acted against well-known international platforms, issuing advisories and cease-and-desist orders, and the central bank has asked for access to dozens of unlicensed platforms to be blocked.
That means the bonuses you see advertised to Filipino traders almost all come from brokers the regulator considers unauthorised. A deposit match or no-deposit offer from a firm under an SEC advisory is not a safe offer to chase: the broker has no local authorisation, no local accountability and no obligation enforceable in the Philippines if it refuses your withdrawal.
Soliciting investments without the right registration carries serious penalties under the Securities Regulation Code, including large fines and possible imprisonment, though enforcement falls mainly on the operators rather than ordinary traders. The practical risk for you is simpler: money sent to an unauthorised offshore broker can be hard to recover, and a bonus does not change that.