The Securities and Exchange Commission (SEC) has ordered the XM Group to stop offering investments in the Philippines for operating without the required licenses.
In November 7, 2025, the SEC issues a cease and desist order to Trading Point Holdings Limited, also known as XM, XM Global Limited, and XM Philippines. They are ordered to immediately stop selling investment products and shut down related websites and social media pages.
The XM Group is an online trading platform that allows users to trade foreign exchange, derivatives, and cryptocurrencies through its website and app. There are also referral rewards to attract users.
SEC has named Manny Pacquiao and forex trader Jonathan Lou Reyes as endorsers of the platform.
To protect investors, the SEC also froze the company’s bank transactions and blocked the transfer of its assets.
SEC has stated that XM is not registered in the Philippines and does not have the required licenses along with permits for crypto-related services. The public had already been warned about the platform in 2024.
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