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Is XM Available in Philippines? Everything You Need to Know
Yes, XM is available in the Philippines, and Filipino traders can open an account, deposit funds, and start trading with the broker without restrictions from XM itself. XM accepts clients from the Philippines, provides a fully functional trading platform, and supports Filipino traders with multiple deposit options, customer service channels, and a wide range of trading instruments. However, it is important to note that the Philippines does not have a local regulatory framework for online forex and CFD brokers, so XM operates there as an international offshore broker.
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This means while you can use XM legally in the Philippines, you are trading under the regulations of the jurisdictions where XM is licensed.
In this article, we will explore everything you need to know about using XM in the Philippines, including regulation, safety, account types, deposit and withdrawal methods, trading conditions, and whether XM is a good choice for Filipino traders.
XM’s Regulatory Status in the Philippines
XM is not licensed directly by the Bangko Sentral ng Pilipinas (BSP) because the BSP does not currently issue licenses for forex and CFD brokers. Instead, XM is a global broker that operates under multiple international licenses, including:
ASIC (Australia) – Australian Securities and Investments Commission
CySEC (Cyprus) – Cyprus Securities and Exchange Commission
FSC (Belize) – Financial Services Commission
For Filipino traders, XM usually onboards clients under its Belize entity regulated by the FSC. This allows residents in the Philippines to register and trade with XM legally, even though there is no local forex regulation.
Opening an XM Account from the Philippines
Opening an XM account from the Philippines is straightforward. The process is entirely online and can be completed in under 10 minutes. You simply:
Visit the official XM website
Fill in your personal details, including name, email, country of residence, and preferred trading platform (MT4 or MT5).
Submit identification documents such as a passport, driver’s license, or national ID, along with proof of address like a utility bill or bank statement.
Once verified, you can fund your account using your preferred payment method.
Filipino traders have access to all XM account types, including Micro, Standard, XM Ultra Low, and Shares accounts.
Deposit and Withdrawal Options for Filipino Traders
One of the reasons XM is popular among Filipino traders is the availability of convenient funding options. XM supports:
Local bank transfers – Allows deposits in Philippine Pesos (PHP) via banks like BDO, BPI, and Metrobank.
Credit/Debit cards – Visa and Mastercard.
E-wallets – Skrill, Neteller, and others.
International bank wire – Suitable for larger transfers.
Most deposits are processed instantly, while withdrawals usually take between 1 to 3 business days, depending on the method. XM also offers free deposits and withdrawals with no additional broker fees.
Trading Platforms Available in the Philippines
XM offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for Filipino clients.
MT4 is ideal for forex traders, supporting Expert Advisors (EAs) and a wide range of indicators.
MT5 is more versatile, offering additional timeframes, more order types, and the ability to trade stocks and indices along with forex and commodities.
Both platforms are available on desktop, web, and mobile versions, allowing traders to access the market from anywhere in the Philippines.
Range of Instruments for Filipino Traders
XM provides over 1,000 trading instruments, including:
Forex – Major, minor, and exotic currency pairs.
Commodities – Gold, silver, oil, and agricultural products.
Indices – Global stock market indices like NASDAQ, S&P 500, and FTSE 100.
Shares – Individual company stocks from US, UK, and European markets.
Cryptocurrencies – Bitcoin, Ethereum, and other popular coins (availability depends on regulations).
This variety allows Filipino traders to diversify their portfolios and trade multiple markets from a single account.
Trading Conditions for XM Clients in the Philippines
XM is known for competitive trading conditions that are accessible even to beginners:
Leverage – Up to 1:1000 (varies depending on account type and instrument).
Spreads – From 0.6 pips on major currency pairs with Ultra Low accounts.
Minimum deposit – As low as $5 (around ₱280).
Order execution – 99.35% of trades executed in under 1 second, with no requotes.
These conditions make XM appealing for traders with different strategies, from scalping to long-term investing.
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Customer Support for Filipino Traders
XM offers 24/5 customer support through:
Live chat – Fast and responsive.
Email support – Available for more detailed inquiries.
Phone support – International phone lines.
While XM does not have a physical office in the Philippines, its support team can assist in English, and many Filipino traders find communication smooth and easy.
Is XM Safe for Filipino Traders?
Safety is an important factor when choosing a broker. XM’s international licenses from ASIC and CySEC provide a degree of credibility and oversight. Additionally, XM uses segregated client accounts, meaning trader funds are kept separate from company funds.
However, because XM is not regulated by the BSP, traders in the Philippines rely on foreign regulation. This is common in many countries without local forex laws, but it does mean traders should be aware that dispute resolution will take place under foreign jurisdiction.
Advantages of Using XM in the Philippines
Easy account opening process for Filipino residents.
Multiple deposit and withdrawal methods, including local bank transfer in PHP.
Low minimum deposit starting from $5.
Access to over 1,000 instruments with competitive spreads.
Choice of MT4 or MT5 platforms.
Generous leverage options up to 1:1000.
No deposit or withdrawal fees.
Things to Consider Before Trading with XM
While XM is accessible and offers attractive conditions, Filipino traders should keep in mind:
XM is not regulated by a local Philippine authority.
Forex and CFD trading carries high risk due to leverage.
Market volatility can lead to quick losses if risk management is not applied.
Conclusion: Can You Trade with XM in the Philippines?
Yes. XM is available in the Philippines and offers a solid trading environment for both beginners and experienced traders. You can open an account, deposit funds in PHP, and trade a wide range of assets with competitive spreads and leverage. The broker’s global regulation adds a level of security, but traders must understand that they are protected under foreign, not local, laws.
For Filipino traders who want a reliable and well-established broker, XM remains one of the best international options. Just remember to start with a manageable deposit, use proper risk management, and continuously improve your trading skills to make the most of what XM offers.
💥 Note: To enjoy the benefits of the partner code, such as trading fee rebates, you need to register with XM through this link: Open An Account or Visit Brokers 🏆
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