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XM Review

4.7/5 - (12 votes)
XM Review

Updated : May 22, 2025

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Overall Rating

Min Deposit

USD 5/293 PHP

Regulators

FSC, DFSA, CySEC, ASIC, FSCA

Trading Desk

MT4, MT5, XM App

Crypto

Yes

Total Pairs

55

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Overview

XM Review

XM is an online global broker established in 2009 based in Cyprus and operates in several other jurisdictions globally.

Since its inception, XM has experienced significant growth and is now a prominent international investment firm, recognized as a leader in the industry. It boasts a client base of over 2,500,000 individuals from 196 countries.

As the Philippine economy diversifies, XM remains adaptable in offering comprehensive financial solutions that meet the market’s changing needs.

Filipinos engaged in the thriving semiconductor industry or considering ventures in transport equipment or chemical products can benefit from the broker’s financing options. The broker’s advisory services can be tailored to help you achieve your business objectives faster.

XM is regulated by various authorities in different countries, such as CySEC in Cyprus, ASIC in Australia, FSC in Belize, and DFSA in Dubai. This ensures Filipino traders can rely on and trust XM for their financial needs.

XM offers Filipino traders a wide selection of over a thousand tradable financial assets, such as forex, CFDs on equities and commodities, stock indexes, precious metals, and foreign exchange.

With competitive spreads starting as low as 0.7 pips and the option to choose between fixed and variable spreads, Filipino traders can confidently employ flexible trading strategies.

XM provides a range of live account options, including demo and Islamic accounts. The offer of an Islamic account will benefit the religious variety of the Philippines, which also caters to the needs of Muslim traders from Mindanao and other areas where Islam is prevalent.

It is worth mentioning that the broker offers a high leverage of up to 1:1000, allowing traders to handle large positions with minimal capital.

The trading platforms on offer are the popular MetaTrader4 and MetaTrader 5 platforms, designed to provide a seamless experience for Filipino traders.

XM will continue to play a crucial role in supporting the recovery of the Philippine economy, which has seen a strong growth rate of 5.6% in 2023.

Thanks to the broker’s knowledge of local legislation and market dynamics, businesses can take advantage of opportunities presented by public investments and new policy reforms that aim to increase private sector involvement.

Overall, XM is a good choice, and it’s particularly well-suited for Filipino traders who want a broker that pays attention to and meets their unique needs.

 

Yes, XM operates in the Philippines, and Filipino traders can open an account with the broker.

No, the base currencies with XM include EUR, USD, GBP, AUD, ZAR, and SGD. Filipino traders cannot open an account with the local Philippines Peso (PHP) as the base currency.

At a Glance

🔢 Established Year2009
⌛Regulation and LicensesFSCA, IFSC, ASIC, CySEC, DFSA, FCA
5️⃣Ease of Use Rating5/5
🎁Bonuses$30 no-deposit bonus, Trade and Win, Referral Program, 50% + 20% deposit bonus
⏰Support Hours24/7
📊Trading PlatformsMetaTrader 4, MetaTrader 5, XM WebTrader, XM CopyTrading
🗂️Account TypesMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
💵Base CurrenciesUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
✏️SpreadsFrom 0.6 pips (XM Ultra-Low Account, EUR/USD)
⬆️Leverage1:1000
➡️Currency Pairs55, minor, major, and exotic pairs
💴Minimum Deposit293 PHP ($5)
💷Inactivity Fee✅ Yes, $15 once-off after 12 months of inactivity, then $5 per month
🗣️Website LanguagesEnglish, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others
💶Fees and CommissionsSpreads from 0.6 pips, commissions from $1 per Share
🤝Affiliate Program✅ Yes
❌Banned CountriesThe United States, Canada, Israel, the Islamic Republic of Iran
✴️Scalping✅ Yes
✳️Hedging✅ Yes
🛢️Trading InstrumentsForex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, Turbo Stocks
🚀Open an Account👉 Click Here

Regulation and Safety of Funds

 

XM Regulation and Safety of Funds

 

Regulation in the Philippines

Bangko Sentral NG Pilipinas or BSP does not regulate XM. However, XM’s global regulations are listed in the table below.

 

Global Regulations

🔍Registered Entity🌎Country of Registration🔢Registration Number⌛Regulatory Entity📊Tier✏️License Number/Ref
🥇XM Global LimitedBelizeN/AIFSC3000261/158
🥈Key Way Financial (Pty) LtdSouth Africa2018/527968/07FSCA249976
🥉Trading Point of Financial Instruments Pty LtdAustraliaABN 32 164 367ASIC1AFSL 443670
🏅Trading Point of Financial Instruments LtdCyprusN/ACySEC2120/10
🏆Trading Point MENA LimitedDubaiN/ADFSA2F003484
🌟Trading Point of Financial Instruments UK LimitedUnited Kingdom09436004FCA1705428

 

Protection of Client Funds

🔍Security Measureℹ️ Information
🗂️Segregated Accounts✅ Yes
👤Compensation Fund Member✅ Yes
💵Compensation Amount€20,000 or 90% of the covered investor claim, whichever is lower.
🎓SSL Certificate✅ Yes
2️⃣2FA (Where Applicable)✅ Yes
⛔Privacy Policy in Place✅ Yes
⚠️Risk Warning Provided✅ Yes
❌Negative Balance Protection✅ Yes
🛑 Guaranteed Stop-Loss Orders✅ Yes

Yes, XM is licensed or authorized by regulatory bodies in the various regions in which the broker operates, including CySEC, FSCA, IFSC, ASIC, DFSA, and FCA.

XM is owned by Trading Point Holdings Ltd, a private limited company incorporated in Cyprus.

Awards and Recognition

 

XM Awards and Recognition

 

The awards won by any broker usually indicate the broker’s reliability, and XM is no exception. We were quite astonished to find mention of numerous awards given to the broker since it was founded in 2009. Below, we mention the latest:

 

✅In 2025, XM received the “Outstanding Global Forex Broker” and “Outstanding Customer Service Global” awards from Capital Finance International Magazine.

✅In 2025, XM received the “Best FX Service Provider” award from the City of London Wealth Management.

✅In 2023, XM received five awards at the World Finance Forex Awards, namely “Best FX Customer Service,” “Best FX Broker, Europe,” “Best FX Broker, Australasia,” “Best FX Broker, Latin America,” and “Best FX Broker, Middle East.”

✅In 2023, XM received awards from CFI.co for the “Most Reliable Broker,” “Most Transparent Broker,” and “Best Customer Support.”

✅In 2023, XM received the “Best CFD Provider” from the City of London Wealth Management.

✅In 2023, XM was awarded “Best Forex Education” at the FxScouts Annual Broker Awards.

Account Types

🔍Account Type💴Minimum Deposit🚀Open an Account📊Platforms⬆️Leverage
🥇Micro Account293 PHP ($5)👉 Click HereAllAccount balance of $5 – $20,000 = 1:1 to 1:1000
$20,001 to $100,000 = 1:1 to 1:200
$100,001+ – 1:1 to 1:100
🥈Standard Account293 PHP ($5)👉 Click HereAllAccount balance of $5 – $20,000 = 1:1 to 1:1000
$20,001 to $100,000 = 1:1 to 1:200
$100,001+ – 1:1 to 1:100
🥉XM Ultra-Low Account293 PHP ($5)👉 Click HereAllAccount balance of $5 – $20,000 = 1:1 to 1:1000
$20,001 to $100,000 = 1:1 to 1:200
$100,001+ – 1:1 to 1:100
🏆Shares Account585,350 PHP
($10,000)
👉 Click HereAllNone

Micro Account

XM Micro Account

The XM Micro Account is ideal for Filipinos who prefer trading smaller amounts, enabling them to trade in micro-lots.

Since the Philippines has a vibrant, young labor market and studies revealed that 86.6% of the population possessed a wealth of less than $10,000 (585,350 PHP), many Filipinos will benefit from registering with this account type.

With a minimum deposit requirement of only 293 PHP ($5) and leverage up to 1:1000, the XM Micro Account is highly accessible to Filipino traders.

Spreads start at just one pip, and there are no commission charges. With the added benefits of hedging and negative balance protection, this account is an excellent option for traders and beginners looking to manage risk effectively in the Philippines.

Standard Account

XM Standard Account

The XM Standard Account offers competitive conditions and a comprehensive trading experience that would appeal to the more traditional Filipino trader.

Spreads start from just 1 pip, and the account has no commission fees. It also protects a negative balance, ensuring Filipino traders can effectively manage their positions.

Trading is permitted in standard lots, and a minimum deposit of 293 PHP ($5) is required. Leverage of up to 1:1000 is available.

Ultra-Low Account

XM Ultra-Low Account

The XM Ultra-Low Account will be a favorite with Filipino traders since it offers tight spreads starting from 0.6 pips. Trading fees with this account type are also very low, with no commission charges.

Leverage can reach a maximum of 1:10000 and decreases as the account balance increases. Filipino day traders and scalpers interested in maximizing their leverage while decreasing their trading expenditures will likely find this account particularly appealing.

Shares Account

XM Shares Account

The XM Shares Account provides traders from the Philippines with direct access to global stock markets, offering an enticing opportunity. This account has a minimum deposit requirement of $10,000 and operates solely in USD as its base currency.

It enables trading in individual shares with a contract size of 1 share. With no leverage provided, the broker’s approach to equity trading is straightforward and uncomplicated.

The underlying exchange influences spreads, while commission charges can vary from $1 to $9 per transaction, depending on the specific share and exchange.

Every client is limited to a maximum of 50 open and pending orders at all times. The trade volume must be at least one lot, and there are specific lot restrictions per ticket for each share.

It’s worth mentioning that hedging is not allowed in this account, highlighting a strong emphasis on direct share trading opportunities.

Demo Account

Filipino traders can open a demo account to experience real market conditions, sharpen their trading skills, and test their strategies without the risk of losing funds.

XM offers Filipino traders the option of first practicing trading on a demo account with virtual funds that are risk-free and valid for 90 days. The demo account is available on any live account type with either the MetaTrader 4 or MetaTrader 5 platforms.

While a demo account offers the same features and functionality as a real account, it’s important to remember that trading in a simulated environment differs from trading in real market conditions due to the psychological factors at play. Keep this in mind when assessing your performance on your demo account.

Islamic Account

XM Islamic Account

Filipino traders who follow the Muslim faith and fall under the strict rules of Sharia have the option to open an Islamic Swap-free account. With this account, rollover interest is removed.

Traders can register for an Islamic account by registering for the live account type of their choice and then requesting to change it to a swap-free account. Certain terms and conditions apply.

This account will not be associated with interest charges, spread widening, or hidden costs. It has all the same features as the live account and no limitations on the positions it can hold.

This offering honors the religious variety of the Philippines and caters to the needs of Muslim traders from Mindanao and other areas where Islam is prevalent. As a result, all Filipino traders can engage in forex trading according to their religious beliefs and traditions, highlighting XM’s dedication to accessibility and diversity.

Yes, you can. Any XM client can hold up to 10 active trading accounts and 1 Shares account.

No, XM does not offer corporate trading accounts at present.

How to Open an Account Step-by-Step

XM account registration is a quick process, and Filipino traders need to do the following:

 

Step 1: Go to the official website and click on the green “Open an Account” button

 

XM Open Account Step 1

 

Step 2: Complete the online registration form

 

XM Open Account Step 2

 

Step 3: Wait for verification from XM

Submit your registration form, and when you receive the verification email from XM, click on the verification link to finish your registration.

Complete your registration by supplying all the necessary personal details, including your date of birth, address, and financial information.

You’ll also have to comply with the KYC process and upload a copy of your identification document and proof of residence. Filipino traders must supply their ID (the Philippine Identification Card or PhilID).

XM offers four main account types for Filipino traders: Standard, Micro, Ultra Low, and Shares. Each account type has its own unique features, advantages, and suitability for different trading styles and preferences.

Leverage starts at 1:1 and goes up to 1:1000, depending on your account’s total equity.

Overall Rating

Min Deposit

USD 5/293 PHP

Regulators

FSC, DFSA, CySEC, ASIC, FSCA

Trading Desk

MT4, MT5, XM App

Crypto

Yes

Total Pairs

55

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Trading Platforms and Software

XM Trading Platforms and Software

XM offers Filipino traders the following Trading Platforms:

➡️MetaTrader 4

➡️MetaTrader 5

➡️XM WebTrader

➡️XM Copy Trading

MetaTrader 4

XM MT4

If you’re a trader in the Philippines seeking an advanced platform, MetaTrader 4 is the globally preferred choice. A solid grasp of technical analysis is essential when navigating the dynamic foreign exchange market.

MT4 provides a user-friendly interface and robust charting capabilities that simplify the process. Popular currency pairs, like USD/EUR, benefit significantly from the wide range of technical indicators and customizable charting tools available.

Automate trading techniques with Expert Advisors (EAs) on MetaTrader 4. This will enable traders from the Philippines to take advantage of market opportunities.

MetaTrader 5

XM MT5

MetaTrader5 is the upgrade of the popular MetaTrader 4 and offers advanced Filipino traders a wider range of tools and features.

The range of financial instruments offered to Filipino traders on the MT5 platform covers forex, stocks, and futures. This provides a significant advantage for those dealing with multiple asset classes.

The platform offers a range of market analysis tools, including additional timeframes and technical indicators, to help users better understand market dynamics.

Furthermore, the enhanced back-testing tools of MT5 enable Filipino traders to refine their strategies with greater precision.

XM WebTrader

XM Web Trader

Filipino traders can rely on the XM WebTrader, an advanced platform developed by the broker for mobile trading.

This platform is specifically designed for smartphones on iOS or Android operating systems. It offers traders the convenience of mobile access to their trading accounts, allowing them to execute all their trading operations and stay updated on market happenings no matter where they are.

With this user-friendly tool, traders in the Philippines can seize every trading opportunity without any setbacks. Considering the Philippines’ vibrant and young labor market, the broker must cater to the tech-savvy mobile generation.

XM Copy Trading

XM Copy Trading

The XM Copy Trading platform utilizes intelligent filters to efficiently identify the ideal strategies for Filipino traders. Filipinos can easily and quickly replicate strategies using this trading platform at no cost.

No matter which device you use, you can enjoy the efficiency and quickness of XM Copy Trading. More than 150,000 trades are carried out on the platform every day.

If you’re a Filipino trader new to forex or prefer a more hands-off approach, XM’s Copy Trading platform is an excellent option. This platform enables you to effortlessly generate income by emulating the strategies of accomplished traders.

One option is to explore different signal sources and analyze their risk and performance. From there, you can select the ones that align with your trading goals. This feature of social trading contributes to the education and collaboration of Filipino traders.

XM Web API

A web API serves as an application programming interface (API) for a web server or a web browser. Regarding web development, this concept is closely tied to the client side of a web application.

Our research indicated that XM does not offer Web API.

Yes, the MT4 and MT5 platforms allow you to trade using EAs or robots with XM.

Filipinos can trade any instruments XM offers on the MT5 platform, including CFDs on Crypto, Stock, Stock Indices, Forex, Precious Metals, Energies, and Commodities.

Range of Markets

 

XM Range of Markets

 

XM’s product portfolio includes 1,000+ financial instruments in ten asset classes. Below, we look at each asset class and the maximum leverage Filipino traders can expect from each asset category.

 

🔍Instrument🔢 Number of Assets Offered⬆️Max Leverage Offered
➡️Forex50+1:1000
➡️Cryptocurrencies581:500
➡️Stock CFDs1,3001:10
➡️Turbo Stocks71:200
➡️Commodities81:50
➡️Equity Indices201:500
➡️Thematic Indices61:50
➡️Precious Metals31:1000
➡️Energies31:200
➡️Shares991:10

 

XM’s Trading Hours

XM understands the different trading preferences of the Philippines’ population and offers access to a wide range of markets with different trading hours.

 

➡️Asset ClassTrading Hours (UTC+8)
➡️Forex24 hours a day, 5 days a week
➡️Cryptocurrencies24 hours a day, 7 days a week
➡️Stock CFDsVaries depending on the specific instrument
➡️Turbo StocksVaries depending on the specific instrument
➡️CommoditiesVaries depending on the specific instrument
➡️Equity IndicesVaries depending on the specific instrument
➡️Thematic Indices16:40 – 22:50, 5 days a week
➡️Precious MetalsVaries depending on the specific instrument
➡️EnergiesVaries depending on the specific instrument
➡️SharesVaries depending on the specific instrument

 

XM Philippine Stock, Forex, Commodities, and Index CFDs Availability

➡️Can I trade SM Investments Corp. (SM) with XM?No
➡️Can I trade Ayala Corporation (AC) with XM?No
➡️Can I trade JM Summit (JGS) with XM?No
➡️Can I trade Rice with XM?No
➡️Can I trade Cassava with XM?No
➡️Can I trade Integrated Circuits with XM?No
➡️Can I trade Electric Transformers with XM?No
➡️Can I trade Base Metals with XM?No
➡️Can I trade PSEi with XM?No
➡️Can I trade Copper with XM?No

No, unfortunately, you can’t change the time zone on your MT4 or MT5 trading terminal.

The stop-out level refers to the equity level at which your open positions automatically close. The stop-out level in a client’s account is reached when the equity in the trading account is equal to or falls below 20% of the required margin.

XM vs JustMarkets vs InstaForex – Broker Comparison

🔍Broker🥇XM🥈JustMarkets🥉InstaForex
⌛RegulationFSCA, IFSC, ASIC, CySEC, DFSA, FCACySEC, FSCA, FSA, FSCFCA, BVI FSC, CySEC, FSA SVG
📊Trading PlatformMetaTrader 4
MetaTrader 5
XM WebTrader
XM CopyTrader
MetaTrader 4
MetaTrader 5
JustMarkets App
MetaTrader 4
MetaTrader 5
WebIFX
InstaForex Multi-Terminal
InstaForex WebTrader
InstaTick Trader
InstaForex MobileTrader
💳Withdrawal FeeNoneNone✅ Yes
🆓 Demo Account✅ Yes✅ Yes✅ Yes
💴Min Deposit293 PHP ($5)588 PHP ($10)59 PHP ($1)
⬆️Leverage1:1000Up to 1:30001:1000
✏️Spread0.6 pipsFrom 0.0 pips0.0 pips
💷Commissions$1 to $9$6 per lot traded0.03% to 0.07%
🛑 Margin Call/Stop-Out50%/20%,
100%/50% (EU)
40%/20%30%/10%
🧑‍⚖️Order ExecutionMarket, InstantMarketInstant
❌No-Deposit Bonus✅ Yes✅ Yes✅ Yes
💰Cent Accounts✅ Yes, Micro✅ Yes✅ Yes
🗂️Account TypesMicro Account
Standard Account
XM Ultra-Low Account
Shares Account
MT4 Standard Cent Account
MT4 Standard Account
MT4 Pro Account
MT4 Raw Spread Account
MT5 Standard Account
MT5 Pro Account
MT5 Raw Spread Account
Insta.Standard Trading Account
Insta.Eurica Trading Account
Cent.Standard Trading Account
Cent.Eurica Trading Account
⌛Philippines BSP RegulationNoneNoneNone
💶PHP DepositsNoneNoneNone
➡️PHP AccountNoneNoneNone
⏰Customer Service Hours24/724/724/5
🏷️Retail Investor Accounts474
☪️Islamic Account✅ Yes✅ Yes✅ Yes
⬇️Minimum Trade Size0.01 lots0.01 lots0.01 lots
⬆️Maximum Trade Size100 lots100 lots100 lots
⏰Minimum Withdrawal Time1 working day1 – 3 hoursInstant
⏱️Maximum Estimated Withdrawal Time5 working days6 banking daysUp to 6 working days
✔️Instant Deposits and Instant Withdrawals?✅ Yes, deposits✅ Yes, deposits✅ Yes
🚀Open an Account👉 Click Here👉 Click Here👉 Click Here

10 Best Forex Brokers in the Philippines

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, CySEC, FCA, DFSA, FSA, CMA

$0

#3

Read Review

CySEC, MWALI, FSCA

$25

#4

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#5

FSCA, FSC, ASIC, CySEC, DFSA

$5

#6

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$0

#7

FSA, CySEC, FSCA, FSC

$10

#8

ASIC, CySEC, FSCA, FSA

$100

#9

CySEC, FCA, FSA, FSCA

$100

#10

Read Review

FCA, CMA, FSC

$200

#1

$100

Minimum Deposit

#2

$0

Minimum Deposit

#3

$25

Minimum Deposit

#4

$10

Minimum Deposit

#5

$5

Minimum Deposit

#6

$0

Minimum Deposit

#7

$10

Minimum Deposit

#8

$100

Minimum Deposit

#9

$25

Minimum Deposit

#10

$200

Minimum Deposit

Fees, Spreads, and Commissions

XM Fees spreads and commissions

XM’s fee schedule is very transparent and competitive. Let’s examine what the fees entail for Filipino traders.

Spreads

XM offers fairly tight spreads across all account types and trade sizes, which closely match the variable spreads of the interbank forex market.

XM’s variable spreads provide flexibility and competitive pricing for Filipino traders, unlike fixed spreads, which can be higher and have potential limitations during news releases.

Traders who opt for XM’s Ultra-Low Account can enjoy incredibly tight spreads of just 0.6 pips on popular Forex pairs.

This feature is especially beneficial for those employing high-frequency trading strategies, as it helps to keep transaction costs to a minimum. XM’s spread structure highlights XM’s dedication to offering favorable trading conditions for traders in the Philippines.

Commissions

XM’s commission structure is straightforward and indicated on the broker’s website. Due to its incorporation into the spread, the Micro, Standard, and Ultra-Low account types do not charge a commission.

An exception to this restriction is the XM Shares account, which caters only to share investors. Each share of the round lot will incur a $1 commission on this account.

Overnight Fees

There may be a charge for holding positions open overnight, known as rollover interest or overnight fees. Regarding forex instruments, the amount credited or charged is influenced by your position (long or short) and the rate differentials between the two currencies being traded.

In the case of stocks and stock indices, the amount credited or charged is determined by whether a short or long position has been taken.

In contrast, Filipino traders registered for an Islamic Swap-free Account will not pay overnight fees, which is forbidden by Sharia law.

Deposit and Withdrawal Fees

XM has a no deposit and withdrawal fee policy, which is another benefit for Filipino traders. 

We also determined that XM covers all fees for major credit cards like Visa, VISA Electron, MasterCard, Maestro, China UnionPay, and e-wallets like Neteller and Moneybookers. Further, XM’s zero-cost policy applies to wire transfers for deposits or withdrawals over $200.

However, Filipino traders should remember that the financial provider they use could charge deposit and withdrawal fees.

Inactivity Fees

Accounts with XM are only considered dormant if there has been no activity for a certain period. This includes trading, deposits, withdrawals, internal transfers, opening additional accounts, and registration activity.

When an account becomes dormant, any remaining bonuses, promotional credits, or XMPs linked to it will be automatically removed.

There is a monthly fee of 10 USD for all dormant accounts. Alternatively, if your available balance is below 10 USD, the fee will be the full amount of your balance. If your available balance is zero, you won’t incur any fees.

These conditions only apply if your account remains dormant for over 90 days.

Currency Conversion Fees

Since the Philippine peso (PHP) is not a supported currency for deposits or withdrawals at XM, traders from the Philippines must consider currency conversion expenses.

Conversion fees may be connected with deposits and withdrawals made in PHP, even though XM does not explicitly charge them.

No, XM does not charge any fees on deposits or withdrawals.

Yes, if your account is verified, you can request a withdrawal for your available balance anytime.

Overall Rating

Min Deposit

USD 5/293 PHP

Regulators

FSC, DFSA, CySEC, ASIC, FSCA

Trading Desk

MT4, MT5, XM App

Crypto

Yes

Total Pairs

55

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Deposit and Withdrawal Options

💳Payment Method🌎Country💵Currencies Accepted⏰Processing Time
➡️Credit CardAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 5 days
➡️Debit CardAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 5 days
➡️Bank Wire TransferAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR1 – 5 days
➡️Local Bank TransferAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR1 – 5 days
➡️SkrillAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 1 day
➡️NetellerAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 1 day
➡️WebMoneyAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 1 day

Deposits

Bank Wire 

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click “Deposit” from the menu and choose “Bank Wire Transfer”.

✅Supply your bank details and the deposit amount.

✅XM will provide bank details, which you can use to deposit funds from your bank.

✅Log into your banking portal, enter the details, and confirm the transaction.

✅Keep the receipt or transaction reference number.

✅The funds could take 1 to 5 days to reflect in your XM trading account.

Credit or Debit Card 

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click “Deposit” from the menu and choose “Credit or Debit Card.”

✅Enter your card details and the deposit amount.

✅Confirm the payment.

✅The funds should be reflected in your account instantly or within a few hours.

Cryptocurrency 

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click on “Deposit” from the menu.

✅Choose the cryptocurrency you wish to use for the deposit.

✅Enter the deposit amount in the designated cryptocurrency.

✅You will receive a unique wallet address for XM.

✅Transfer your crypto funds to this wallet address.

✅Complete the transfer from your crypto wallet.

✅The deposit will be confirmed on the blockchain network.

✅The deposit will be processed and converted to your account currency.

e-Wallets or Payment Gateways

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click “Deposit” in the menu and choose your preferred e-wallet.

✅Enter the deposit amount and complete the e-wallet information.

✅You will be redirected to your e-Wallet’s website to log in and confirm the payment.

✅The deposit is usually processed instantly.

Withdrawals

Bank Wire 

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click “Withdrawal” from the menu and choose “Bank Wire Transfer”.

✅Enter the deposit amount and your bank details.

✅Review and confirm the withdrawal.

✅The funds will be reflected in your bank account within 1 to 5 days.

Credit or Debit Cards 

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click “Withdrawal” from the menu and choose “Credit or Debit Card.”

✅Enter the withdrawal amount and your card details.

✅Confirm the withdrawal.

✅Your card should reflect the funds within 3 to 5 business days.

Cryptocurrency 

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click on “Withdrawal.”

✅Select the cryptocurrency option for withdrawal.

✅Enter the withdrawal amount and provide your crypto wallet address.

✅Confirm the withdrawal details.

✅XM will send the cryptocurrency to your provided wallet address, usually within 24 hours.

e-Wallets or Payment Gateways 

✅Navigate to the homepage of XM and log in to your XM Member’s Area.

✅Click “Withdrawal” on the menu and choose your desired e-wallet.

✅Enter the withdrawal amount and e-wallet information.

✅Confirm the withdrawal.

✅The funds should appear in your e-wallet within 24 hours.

No, XM does not offer Nano accounts. However, you can trade nano lots (100 units) using a Standard or Micro account.

MyWallet is where you can securely store all the funds you’ve earned from various XM programs. It provides an easy way to manage your funds, including transfers and transaction history.

Leverage and Margin

XM Leverage and Margin

XM’s margin and leverage regulations for traders from the Philippines are structured in a multi-tiered system, which has been thoroughly analyzed.

XM offers a maximum leverage of 1:1000 for accounts under $20,000. Their leverage scale is designed to be flexible and adapt to the size of the account. This limit safeguards trading accounts against excessive risk as their balances grow.

Margin limitations are a crucial aspect of XM’s strategy. Traders from the Philippines will find the broker’s margin calculator to be incredibly useful. It allows them to accurately determine the margins for different products and account types.

Considering the potential impact of significant currency rate fluctuations on margin levels in today’s volatile market is important.

In addition, it was discovered that XM can still modify the margin requirements. This careful approach showcases the broker’s commitment to risk management.

Educational Resources

XM Educational Resources

➡️Economic Calendar✅ Yes
➡️VPS✅ Yes
➡️AutoChartistNone
➡️Trading ViewNone
➡️Trading Central✅ Yes
➡️Market Analysis✅ Yes
➡️News Feed✅ Yes
➡️Blog✅ Yes
➡️eBooksNone
➡️Educational Videos✅ Yes
➡️Platform Tutorials✅ Yes
➡️Webinars✅ Yes
➡️Seminars✅ Yes
➡️Live Support✅ Yes

In addition to the above-mentioned tools and resources, XM also offers Filipinos the following:

✅XM TV

✅XM “Discover”

✅XM Podcasts

✅XM Research

✅XM Live

✅Live Education

✅Live Education Schedule

✅Markets Overview

✅Trade Ideas

✅Offline Trading Courses

✅Technical Summaries

Trading Reports

We found that XM offers special reports and news to keep Filipino traders updated with important financial market trends. The country’s strategic connections and membership in ASEAN make it highly attractive to foreign companies due to its strong and stable economy.

These partnerships foster trade and investment, promoting closer economic integration, which has positive implications for the foreign exchange market.

These reports, written by financial experts, can provide valuable insights into the factors that impact the Philippine Peso and other assets.

Trading Calculators

XM provides an all-in-one trading calculator that Filipino traders can use to calculate currency, pip value, margin, swap, and Profit/loss.

This calculator is a very useful tool that streamlines intricate calculations. It is especially beneficial for Filipino traders who may be new to forex trading.

It helps Filipino traders gain a comprehensive grasp of the financial implications of their trades, empowering them to manage risks effectively. This is especially crucial in a nation witnessing a growing interest in online trading.

Forex Seminars

XM has organized seminars in the Philippines for Filipinos to meet the needs of the Philippines’ diverse population and traders with different skill levels.

However, due to the COVID-19 pandemic in 2020, XM switched to online seminars and webinars to maintain its dedication to providing service to its customers in the Philippines. Traders will find all the information on upcoming events on the broker’s website.

In 2022, XM organized and ran a seminar on “The Introduction to Trading Gold” in Cebu. Jonathan Lou Reyes, founder of the Philippine Association of Forex Traders Inc. and a globally acclaimed trading expert, delivered the presentation.

This conference taught Filipinos the fundamentals of gold trading, vital for making a living in the industry. They understood the factors that influence the price and market for gold, how to interpret gold cycles, and how to make the most of technical analysis in trading.

Seminar goers not only got access to professional instruction, but they also got the special bonus of the free Avramis Gold indicator. They may put the seminar’s recommendations into action with the help of this powerful technical analysis tool.

At the seminars, internationally certified instructors and portfolio managers comprehensively explain the fundamentals of forex trading principles to sophisticated strategies and frequently offer valuable perspectives on global markets.

Yes, XM runs daily live education sessions hosted by market experts. They’re free to attend, and there are even Q&A sessions, allowing you to chat with our instructors.

Yes, you can benefit from free access to a VPS for the MT4 and MT5 platforms via the Members Area, as long as you have a minimum balance of $500, or currency equivalent, and provided you trade at least 2 Standard round lots or 200 Micro round lots per month.

Bonuses and Promotions

XM Bonuses and Promotions

Forex brokers usually offer bonuses and promotions to attract new customers. We have discovered that XM also offers bonuses and promotions.

$150 Refer a Friend bonus

At XM, traders can boost their earnings through the refer-a-friend bonus program. By inviting friends to start trading, participants can earn up to $150 for each referral. The more friends referred, the greater the potential earnings, with all bonuses being withdrawable.

Sharing the referral link or sending invitations via email are simple ways to participate in this incentive program. Terms and conditions apply to ensure the fair application of the bonus system. It offers a simple means of generating extra income and introducing your contacts to trading.

100% Deposit Bonus up to $500 plus 20% bonus up to $10,000

If Filipino traders want to boost their trading capital, XM offers a 100% incentive of up to $500 and a 20% bonus of up to $10,000.

Your initial deposit is matched dollar for dollar, and you’ll earn a 20% bonus on any further contributions up to $10,000. Certain terms and conditions apply to this bonus offer, which cannot be withdrawn but must be used.

$120,000 Real and Demo Contest

Filipino traders can compete in XM’s $120,000 Real and Demo competitions to win withdrawable cash prizes. There are no entry fees, and traders can earn withdrawable cash prizes.

Prize money is divided up differently at each level of the competition. Register on the XM website to participate in these complimentary demo contests. Trading in the real world is a great way to practice what you’ve learned and test your theories.

Loyalty Program

You would think XM couldn’t be more generous with all the incentives and awards they offered, but you’d be mistaken.

In addition to all the various perks and bonuses, XM occasionally offers limited-time seasonal benefits to celebrate specific dates and events in the calendar. We also have some really special bonuses in store for those who respond to our invitations.

This loyalty program is invitation-only. Traders from the Philippines who join the XM Loyalty Programme earn XM Points (XMP), which can be exchanged for bonuses and cash.

$30 No-Deposit Bonus

XM’s $30 No-Deposit Bonus is a fantastic opportunity for new Filipino traders to try the platform risk-free. Upon account creation and verification, traders will receive $30 in trading credit without having to put down the minimum required deposit.

However, to cash out your earnings, you’ll need to meet a specific minimum trading volume. Plus, this offer will not last forever.

This offer is not permanently available and is run for limited periods by XM.

Rebates for Clients

Our research into XM indicated that the broker offers cashback rebates for Filipinos who invest in certain assets. These rebates provide profitable opportunities for Filipino traders and affiliates in the country’s forex industry.

The rebates are only available on the Micro and Ultra Low accounts and vary between $9,00 to $67,50 per lot traded.

XM is dedicated to supporting the thriving economic landscape of the Philippines, which is experiencing rapid growth in the East Asia and Pacific region.

The Philippines is known for its strong consumer demand and resilient labor market, which is supported by significant remittances. The country’s urbanization, growing middle class, and young population contribute to its economic vitality.

The rebates XM offers can be a real boost for Filipino traders, whether novice or experienced traders.

Yes, it is possible to lose your loyalty status if your trading account remains inactive for a specific period. If this happens, you’ll also lose any points you’ve collected.

The broker offers a wide range of bonus promotions throughout the year, all designed to provide clients with more funds for trading. Log in to the Members Area to see the latest XM promotions running.

Affiliate Programs

XM Affiliate Program

Our research on XM’s offering indicated that it provides an affiliate program that holds benefits for traders who participate in it. Let’s learn more about how Filipino traders can join as partners to benefit and earn extra income.

Features

If you’re a Filipino trader or marketer looking to maximize your earnings in the forex market, XM’s affiliate program is an invaluable resource. This partnership opportunity is highly lucrative and remarkably accessible.

The program is designed to offer the utmost flexibility, allowing affiliates to sign up easily online and manage their earnings through a user-friendly partner portal.

With this streamlined approach, account management becomes easy, enabling seamless funds transfers between IB and client accounts. In addition, we discovered that XM prioritizes timely payouts, which is essential for establishing successful, enduring partnerships.

XM’s commitment to affiliates extends far beyond providing monetary rewards. The program offers individuals comprehensive support, providing personalized assistance from dedicated account managers.

XM’s affiliate program stands out for its impressive ability to generate substantial returns. Affiliates can earn a substantial $25 per lot traded by their referrals, with no cap on the commissions they can receive.

Furthermore, the opportunity to earn a substantial income is amplified by a 10% commission on referrals made by those you have referred, creating a highly profitable multi-level system.

XM is committed to establishing a positive trading environment that benefits affiliates and their clients. The XM platform is dedicated to maintaining fair trading practices, which guarantees a smooth and safe trading experience for all users, including affiliates and their referrals.

Filipino traders can trade confidently, thanks to the absence of requotes, rejections, and negative balance protection. This not only enhances the affiliate’s reputation but also cultivates customer loyalty.

How to Register an Affiliate Account Step-by-Step

Step 1: Go to the official website and click on the “Partnerships” icon

XM Affiliate Account Step 1

Step 2: Click on “Register a Partner Account.”

XM Affiliate Account Step 2

Step 3: Complete the online registration form

The registration form will also require additional information, such as your social media platforms, website URL, and any specifics about your marketing approach.

XM Affiliate Account Step 3

Step 4: Wait for verification from XM

You will receive a verification email from XM. To validate your email address, click the verification link in the email.

Yes, XM does offer an Affiliate Loyalty Program, where Filipino traders can earn points, which can be redeemed for cash rewards of up to $150,000.

Yes, XM offers a variety of marketing materials, including digital banners, landing pages, logos, creatives, and unique referral links.

Customer Support

🫴🏻 Customer Support👥XM Customer Support
⏰Operating Hours24/7
👉Support LanguagesEnglish, Chinese, Russian, French, Italian, Spanish, Portuguese, Polish, Arabic, and more
🗣️Live Chat✅ Yes
💻Email Address✅ Yes
☎️Telephonic Support✅ Yes
5️⃣The overall quality of XM Support5/5

 

Response Time

🫴🏻 Support Channel⏰Average Response Time⏱️User-based Response Time
☎️PhoneN/AN/A
💻Email1 working daySame-day
🗣️Live Chat5 minutes2 minutes
📱Social Media1 working day10 minutes
🤝Affiliate1 working daySame-day

XM usually provides 24/7 customer support to meet the needs of Filipino traders who trade after market hours while aligning with global trading hours during the week.

No, XM does not have an office in the Philippines, but Filipino traders can find all the support they need online through the customer services provided.

Social Responsibility

XM Social Responsibility

Like many brokers, XM also takes its Corporate Social Responsibility (CSR) seriously. On its website, we discovered several worthy causes and initiatives the broker is involved in.

Not only does it participate in various worthy causes across the globe, but XM is also involved in the Philippines, which indicates the broker’s dedication to the Filipino nation and not only benefits from Filipino clients that open accounts with them.

Let’s look at some of the initiatives the broker was recently involved in in the Philippines.

XM donated to Childhope to assist with its humanitarian work. In Metropolitan Manila, hundreds of thousands of abandoned and impoverished children live on the streets.

XM gave money to Childhope to deliver hygiene kits, food, medicine, and other basics to street children to safeguard their rights and improve their lives.

To help those with impairments in the Philippines, XM joined forces with KAISAKA. They are a community-based rehabilitation program that aims to reduce barriers faced by individuals with disabilities.

XM provided 60 severely disabled children with a substantial amount of food, school supplies, clothing, healthcare products, and wheelchairs, among other things.

Every humanitarian action counts as poverty rates soar and child maltreatment persists. XM’s corporate social responsibility focuses on raising awareness and supporting various charity organizations.

XM Current Partnerships

Our research into XM showed that the broker does not support or sponsor any organizations or sports events, and there is no indication of any current partnerships.

It might benefit the broker’s outreach into the Philippines to partner with local events in this dynamic country and demonstrate their dedication to serving the Filipino public.

Some of the recommended partnerships could be:

Humanitarian Associations:

✅Caritas Manila provides social services, disaster response, and livelihood programs.

✅Habitat for Humanity Philippines builds homes and communities for the underprivileged

✅Save the Children Philippines focuses on children’s rights, education, and protection.

✅UNICEF Philippines is involved in child welfare, health, and education initiatives.

NGOs:

✅ The Philippine Red Cross provides emergency assistance, disaster response, and health services.

✅Gawad Kalinga focuses on poverty alleviation and community development.

✅WWF Philippines is involved in environmental conservation and sustainable development.

Sports Clubs:

✅Manila Polo Club.

✅Philippine Football Federation (PFF).

✅Alab Pilipinas Basketball team competing in the ASEAN Basketball League.

These organizations and institutions play crucial roles in various sectors across the Philippines, contributing to community development, education, sports, and humanitarian aid.

User Comments and Review

XM is represented globally in numerous jurisdictions, and we found many personal reviews and comments on the broker.

 

🥇“Honestly, my experience with XM is excellent, I find their withdrawal to be instant, it is amazing. 100% Legit and reliable.”

 

🥈“With its user-friendly platform, diverse tradable assets, and commitment to education, XM stands out as a broker of choice. Whether you’re a beginner or an experienced trader, XM Group offers a range of account types to suit your needs and preferences.”

 

🥉“XM is a very good broker, but the spread is too much. However, I can withdrawal very fast. In the end, I can say I love XM.”

In Conclusion 

The platform offers a wide range of trading assets, including stocks, commodities, indices, and forex currencies. It enables users to create diversified portfolios and participate in strategic trading.

However, we did discover that XM has a few drawbacks. The absence of the Philippine Peso (CLP) as a base currency poses a problem for Filipino traders as it leads to the payment of currency conversion fees.

Our Insight

XM is a good option for Filipino traders. It offers tight spreads, low minimum deposit requirements, and no commissions on most accounts, making it appealing to Filipinos.

Our Recommendations

✅Focus more on Filipino traders by adding more localized material, news, and updates on the Philippine market.

✅Allow Filipinos to use PHP as a base currency and include local bank transfers in their payment methods.

Pros & Cons 

✅Pros❌Cons
XM is well-regulated through FSCA, IFSC, ASIC, CySEC, DFSA, FCADoes not support the Philippines Peso (CLP) or any local payment methods through local banks

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Frequently Asked Questions

Filipinos can trade all the instruments offered by XM on the MT5 platform, including Crypto CFDs, Stock CFDs, Stocks, Stock Indices CFDs, Forex, Precious Metals CFDs, Energies CFDs, and Commodities CFDs.

No, XM has no local regulation, but several respected international financial institutions oversee the broker.

Yes, the copy trading platform XM offers is user-friendly and intuitive, but it also allows new traders to follow those more experienced.

Yes, XM does offer personal account managers.

Yes, the XM Ultra Low Account would be a good option for beginner traders since it offers tight spreads and low minimum deposits with no commission charges.

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