XM Broker Philippines

XM Broker is a well-known online trading platform available in the Philippines. It offers various financial markets, including Forex, commodities, stock indices, and energies. With a client base from over 196 countries, XM Broker is recognized for its excellent customer service and advanced trading tools. It also provides local bank transfer options for Philippine clients, which makes deposit and withdrawal transactions convenient and efficient. Furthermore, XM Broker offers comprehensive educational resources for beginners, making it a suitable platform for novice and experienced traders in the Philippines. In this XM broker Philippines review, we will learn more about the broker’s platform advantages, features, and more.

XM Broker Account Types

  • Micro Account: This account type is suitable for beginners or those who prefer to trade with a smaller amount. It requires a minimum deposit of $5. Despite the small investment, traders can enjoy a high leverage of up to 1000:1. This account also offers negative balance protection, meaning traders will not lose more money than they have deposited. The spread, or the difference between the buying and selling price, can be as low as 1 pip. There are no commissions charged on trades, and both hedging and swaps are allowed.
  • Standard Account: Requires a minimum deposit of $5 and offers a spread as low as 1 pip. It also comes with negative balance protection and allows for hedging and swaps. However, no commission is charged.
  • XM Ultra Low Account: This account requires a minimum deposit of $5 and offers high leverage of up to 1000:1. There are no swap fees, and hedging is allowed. Like the other accounts, it also offers negative balance protection and does not charge commissions.
  • Shares Account: This account type is designed for more experienced traders with a higher investment capacity. A minimum deposit of $10,000 is required. Unlike other account types, hedging is not allowed, and there is a commission fee. The spread depends on the underlying exchange. Even with these conditions, the account still offers negative balance protection, ensuring that traders do not lose more than what they have invested. However, it does not offer any leverage.
  • XM Ultra Low Account: This account is a variant of the XM Ultra Low Account, which offers lower minimum deposits. It offers zero swaps and commission fees. The leverage can go up to 1000:1, and the spreads on major pairs can be as low as 0.6 pips. Like all other accounts, it also provides negative balance protection.
XM Broker Account Types

XM Broker Demo Account

The XM broker demo account offers a wide range of features designed to simulate real-time trading conditions as closely as possible. It provides users with virtual currency, allowing them to practice trading without the risk of losing real money. The account supports all types of trading orders and includes real-time market quotes. It also gives users access to all the trading instruments available on the XM platform, including forex, commodities, and indices. Additionally, the demo account comes with free daily technical analysis and fundamental analysis data, letting users understand and experiment with different trading strategies. The XM broker demo account is accessible 24/7 and there is no time limit for its usage.

FInancial Instruments at XM Broker

  • Forex Trading: Forex, or foreign exchange, trading involves the buying and selling of different currencies. XM broker offers a robust platform for forex trading where users can trade various currency pairs.
  • Cryptocurrencies: With XM broker, users in the Philippines can trade popular cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin among others. This allows users to take advantage of the volatility in the crypto market to make profits.
  • Stock CFDs: Contract for Difference (CFD) allows traders to speculate on the rise and fall of fast-moving global financial markets. XM trading provides a platform for trading CFDs on stocks of major companies without having to own the actual stock.
  • Turbo Stocks: Turbo Stocks are a type of financial derivative that allows investors to speculate on the underlying stock’s price movement. XM broker offers this as one of their tradeable instruments.
  • Commodities: XM broker’s trading platform also includes a wide range of commodities like gold, silver, oil, natural gas, wheat, and many more. Traders can speculate on the price movements of these commodities.
  • Equity Indices: Traders can also speculate on the price movements of various equity indices like S&P 500, Dow Jones, NASDAQ, and more through XM broker.
  • Thematic Indices: XM broker also offers thematic indices which are a group of companies sharing a common theme or sector. This allows traders to invest in an entire theme or sector at once.
  • Precious Metals: Besides commodities, XM broker also allows trading in precious metals like gold, silver, platinum, and palladium. This offers another avenue for traders to diversify their portfolios.
  • Energies: XM broker provides a platform for trading energy commodities like crude oil, natural gas, and gasoline.
  • Shares: Lastly, XM broker enables traders to buy and sell shares of various companies. This allows users to take advantage of the equity market movements.
XM Financial Assets Philippines

XM Broker Deposit Options in the Philippines

XM broker offers a wide variety of deposit options for its customers in the Philippines. Here are the details:

  • Credit/Debit Card: XM trading accepts major credit and debit cards like Visa, MasterCard, and Maestro. This is one of the fastest and most convenient deposit options.
  • Bank Wire Transfer: You can transfer funds directly from your bank account to your XM trading account. However, it may take a few business days for the funds to reflect in your account.
  • E-Wallets: XM broker also allows deposits through popular e-wallets like Skrill, Neteller, and WebMoney. These methods are usually faster than bank wire transfers.
  • Online Banking: Some Philippines banks offer the option to transfer funds directly to your XM account through their online banking platforms. Check with your bank if they offer such services.
  • Local Bank Transfer: This option is available for specific countries and allows traders to fund their accounts through their local banks.
  • Cryptocurrency: In some regions, XM also allows deposits via Bitcoin.

The XM broker minimum deposit amount depends on the account type. Remember that XM does not charge any internal fees for deposits or withdrawals. However, depending on your chosen payment method, you might have to pay some fees, and your bank or e-wallet provider may charge you for their services.

Also, it’s important to keep in mind that the availability of certain deposit methods may depend on your country of residence and the regulations in your specific location. Always check the deposit options available in your XM Members Area.

XM Broker Withdrawal Options in the Philippines

XM broker offers several withdrawal options for its customers in the Philippines. These include credit or debit cards (Visa, MasterCard, Maestro), Electronic Payment Systems (Neteller, Skrill), and bank wire transfers.

  • Credit or Debit Cards: Withdrawals can be made directly to your credit or debit card. The processing time for these withdrawals is typically within 24 hours, but it may take up to five business days for the funds to appear in your account.
  • Electronic Payment Systems: If you have an account with Neteller or Skrill, you can also use these services for withdrawals. The processing time for these withdrawals is typically instant, but it may take up to 24 hours in some cases.
  • Bank Wire Transfer: If you prefer, you can also withdraw your funds directly to your bank account via a wire transfer. This method typically takes between two to five business days for the funds to appear in your account.

XM broker minimum withdrawal amount is $5 for all methods except for bank wire transfer, where the minimum withdrawal is $200. However, it’s important to note that some banks may charge a fee for receiving funds via wire transfer, so it’s advisable to check this with your bank before choosing this withdrawal option.

Please note that XM trading may also charge a fee for withdrawals, depending on the method chosen and the amount being withdrawn. It’s recommended to check the broker’s website or contact their support team for the most accurate and up-to-date information regarding withdrawal fees.

Trading Platforms

MetaTrader 4 (XM Broker MT4)

MetaTrader 4 (XM broker MT4) offered by XM Broker is a globally recognized trading platform utilized by traders worldwide. It is accessible on various devices, providing a comprehensive trading experience. For Windows users, the MT4 platform provides real-time quotes, news, charts, and other features. Mac users can also use the MT4 version specially designed for them, offering similar features as the Windows version. The MT4 Multiterminal version is ideal for money managers and professional traders who manage multiple accounts simultaneously. With the MT4 WebTrader, users can access their account from any computer with an internet connection, without any need for download or installation. MT4 also offers versions for iPad and iPhone users, providing full account functionality, including trading options, charts, and technical analysis tools. The Android version of MT4 provides a user-friendly interface and a wide array of features, enabling traders to keep track of the market and manage their orders from their Android devices.

MetaTrader 5 (XM Broker MT5)

XM Broker’s MetaTrader 5 (MT5) is a next-generation trading platform offering a plethora of advanced trading features that surpass its predecessor, MT4. The MT5 platform is versatile and accessible on a variety of devices. For Windows users, the PC version of MT5 provides a comprehensive bundle of trading and analytical tools. Mac users are not left out as XM Broker has an MT5 version tailored for them, offering an upgraded trading environment. Additionally, the MT5 WebTrader allows for convenient, web-based trading accessible from any computer with the internet, eliminating the need for downloads or installations. For iPad and iPhone users, the XM MT5 app offers full account management, various trading orders, and interactive charts. Android users can also take advantage of the MT5 platform with its robust trading system, providing rich functionality for professional trading on Android devices.

XM Philippines Trading Platforms

XM Trading Conditions

XM broker is a well-known and popular forex broker that presents a wide range of trading conditions for its clients. These conditions are designed to provide the best possible trading experience for both beginners and professional traders.

  • Execution Policy: XM broker has a policy of executing orders instantly. This means that clients can expect their trades to be processed immediately without any delay. They use market execution for all trades, meaning that orders are executed at the best available market price rather than a predetermined price. This can be beneficial during periods of high volatility, although it also means that slippage can occur.
  • Spreads: Offers fixed and variable spreads depending on the type of account you have. Fixed spreads are set and do not change, while variable spreads fluctuate based on market conditions. XM is known for its tight spreads, which can help to reduce trading costs.
  • Margin and Leverage: XM broker provides high leverage ratios, up to 1000:1. This allows traders to control large amounts of money with a small initial deposit. However, high leverage also means high risk, so it’s important to use it wisely. The margin requirement at XM is also very low, which enables traders to open larger positions with less capital.
  • Overnight Positions: If a trader holds a position overnight, they are subject to an overnight fee or swap. The swap rates at XM are competitive in the industry. Swap rates are tripled for positions held over Wednesday night.
  • Trading Hours: XM operates 24 hours a day, 5 days a week. This means that traders can trade whenever it suits them best, whether that’s during the day or at night. However, it’s important to note that certain instruments may not be available to trade at all times due to market hours.

Is XM Broker Legit in the Philippines?

XM broker is a recognized and legal online brokerage firm in the Philippines. It is regulated by several international financial authorities including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). Filipinos can legally trade forex, stocks, commodities, and other instruments through the XM platform. The legality of XM broker in the Philippines assures traders that they are using a secure and compliant platform, which adheres to the stringent regulatory standards set by these authorities.

XM broker is legit in the Philippines

XM Broker Philippines Review – Conclusion

In conclusion, XM broker has successfully positioned itself as a reputable broker in the Philippines. They offer a wide array of financial instruments and platforms that cater to the needs of both novice and experienced traders. Their advanced technology, comprehensive educational resources, and exceptional customer service have made them a preferred choice for many Filipino traders. With their commitment to transparency, security, and adherence to strict regulatory standards, XM broker continues to be a reliable partner for online trading in the Philippines.