Since 2018, XM has been the best legit platform for trading in the Philippines with a large variety of stocks, crypto, and forex with easy access on MT5. Since then, they have also developed their own trading app which makes it easier especially for crypto traders. Here, we will go through everything you need to know about XM, and how easy it is to get started trading in the Philippines.
Go here to open an XM trading account
To start using XM online trading platform in the Philippines, you will need to verify who you are through a KYC process. You will need one valid government-issued ID and proof of billing. Proof of billing could be a Meralco bill or anything else that proves your address. To begin the process, simply log in after registering an account and click on the settings in the upper right corner. After you have completed taking a picture of your ID, a selfie and uploading a document stating your address, it usually does not take more than 24 hours before your online trading account is verified.
With local fast payment solutions integrated, XM is the best trading platform for past withdrawals of profits in the Philippines. You can use both Gcash and Maya for deposits and withdrawals, and enjoy zero fees on doing so. If you would rather use card payment or crypto, fees apply respectively to the payment provider you choose. For example gas fees on crypto, or currency exchange rates on cards. You can process deposits and withdrawals directly on XM online platform, or through the trading app.
Both the app and MT5 trading platform works well on any type of instrument you want to trade, including stocks, forex, commodities or crypto. But the advantage with the XM trading app, is that you have certain options that are not available on the MT5 platform. For example, you can choose partial close of positions, which is particularly popular among crypto traders. You can also create dedicated lists of instruments. On MT5, all of the instruments you are interested in are collected on the same table. While in the XM app, you can make a dedicated list for crypto, sticks, forex and so on.
1. Account types: Choose between accounts with either low spreads or no swap if you like to hold your positions for several days.
2. Bonuses: Choose an account that gives you 20 % more to trade for each time you deposit, and a 100 % deposit bonus up to $500 for new users.
3. Leverage: On forex, you can trade with up to 1000:1 leverage, which gives you the opportunity to maximize your profits on small movements in the market.
4. Copy trading: You can copy 1000+ professional traders with a long solid track record of being profitable in trading.
5. Loyalty points: Receive loyalty points that you can cash in for more bonuses of cash ready to withdraw.
6. Competitions: Each week, a new competition with $10,000+ in the prize pool starts for anyone to join.
7. Deposits and withdrawals: Supports local payment methods in the Philippines for low corset and fast transactions.
8. Customer support: 24/7 dedicated support + your own local account manager who can help you if you have any issues.
9. Instruments: Choose between over 1400+ instruments including stocks, forex, crypto, and commodities like gold and oil.
10. Platforms: Get access to all your accounts on MT4, MT5 or the award-winning XM trading app.