When it comes to online trading, the choices are vast and varied. No matter what markets you want to enter, what assets you plan to trade, or what methods you want to employ in this respect, there’s a large number of providers lined up and ready to cater to your every trading aspiration and need. Or so it seems.
The variety of choices can be quite inspiring and motivating, as trading hasn’t always been as accessible as it is today. If it weren’t for the emergence of online brokers, the wealthy would probably still be gatekeeping trading, and the common folk would never dream of exploring financial markets and building portfolios, which would be a major loss since online trading is so often used today to build wealth or counter the effects of depreciation.
Fortunately, those times are over, and trading is open to everyone. The problem right now is not accessibility, but making sound choices when choosing an online broker because there are many fraudulent platforms and scammers hiding in plain sight, passing for legitimate providers.
Is XS.com one of them, or is it a reliable broker that you can trust to offer a safe and satisfactory trading experience? This review is going to help you get to the bottom of the truth by analyzing the pros, the cons, and all the relevant aspects related to this platform.
| ✅ Pros of XS.com | ⚠️ Cons of XS.com |
|---|---|
| Vast asset selection covering all major markets, including Forex, stocks, commodities, energy, indices, futures, and crypto | Supports CFDs trading primarily |
| Multi-regulated, with licenses from reputable financial agencies in eight jurisdictions | Customer support is not available on weekends |
| Access to MT4 and MT5 trading platforms | Doesn’t deliver services in certain jurisdictions |
| Fast order execution | |
| Dynamic leverage up to 1:2000 | |
| Deposit and withdrawals via bank transfer, Visa and MasterCard, Skrill, Neteller, online banking, etc. | |
| Competitive spreads and commissions | |
| Various accounts for different trading levels | |
| 24/5 multilingual customer service |
The making of XS.com
XS is currently known as a multi-asset broker that offers a wide variety of assets to markets across the globe, but few know that it took over 15 years for XS to become the company it is today and make its services available to such a large number of traders and investors.
It all started back in 2010, in Sydney, Australia, with the establishment of the XS Group, whose purpose was to provide institutional liquidity for contracts for difference (CFDs) trading. The broker has since grown its footprint in the FinTech sector significantly by expanding both its tradable products and its reach.
Its asset collection has become much more diverse, allowing clients to trade CFDs on a much wider range of financial instruments, starting with a broad selection of Forex pairs, including major currencies and exotic combos, and continuing with international shares, indices, metals, energy, and more niche options like crypto.
From its Australian headquarters, XS planned its international expansion, which implied opening regional branches in strategic locations around the world. Now the broker has an international presence with offices in Cyprus, the UAE, Kuwait, Seychelles, and the USA, delivering its services to users on four continents.
XS aims to be a platform that covers the entire gamut of trading needs by offering effective solutions powered by the latest technologies to all types of clients, including retail traders, institutional investors, and brokers. In addition to this all-inclusive approach, the company also focuses on educating audiences and empowering them to step up their trading game, putting at their disposal various free online courses on topics of interest such as Forex, CFDs, and technical analysis.
XS’s approach to regulation and security
Regulations are a key aspect when choosing a trading platform because a broker that has received authorization from a financial agency and whose operations are constantly monitored can be held responsible in case it fails to comply with industry regulations.
Even if licensing doesn’t necessarily offer guarantees of efficient services, when working with a regulated broker, at least you have the reassurance that you benefit from protection in case something goes wrong.
With XS, this reassurance is even stronger as the broker has been successful in obtaining licenses from eight different regulatory bodies. XS got its first license from the Australian Securities and Investments Commission (ASIC) when the company was incorporated. Then the broker went on to get authorization for its subsidiaries in seven other jurisdictions, from the following financial regulators:
- FSA (Financial Services Authority of Seychelles)
- FSCA (Financial Sector Conduct Authority) in South Africa
- LFSA (Labuan Financial Services Authority) in Malaysia
- CySEC (Cyprus Securities and Exchange Commission)
- MOCI (Ministry of Commerce and Industry) in Kuwait
The latest licenses obtained by XS are from the FSC (Financial Services Commission) in Mauritius and the Securities and Commodities Authority (SCA) in the UAE.
Security-wise, XS implements several layers of protection to make sure its networks are safe from cyberattacks and threats that could put its operations in jeopardy. Two-factor (2FA) authentication requirements are set to ensure no one can gain unauthorized access to the information and the funds that the broker manages. The platform also runs thorough know-your-customer (KYC) verifications and uses complex encryption protocols to secure communications and transactions.
An insurance policy underwritten by Lloyd’s of London, covering losses of up to USD 5,000,000, adds another layer of protection, so users can rest assured that their funds won’t be affected by technical issues or company errors and omissions.
Trading with XS
XS’s services are designed to meet the needs of modern-day traders who have different requirements and preferences and expect trading platforms to be able to accommodate them. From novices taking their first steps into the world of trading to experienced professionals who demand advanced tools, brokers, and institutions, XS can serve as a trusted partner for all types of clients.
After a simple and straightforward registration process, clients have the possibility to choose from several account types, each with its own features and options, so that they can customize their trading experience based on their specific needs.
Accounts are separated into three broad categories: preferred and professional, and partners, with the first two geared towards beginners, respectively experienced traders and professionals, and the latter being designed for service providers that want to partner with XS.
The broker offers consistently competitive spreads, starting from 0.1 pips for the Elite and VIP accounts, and attractive fees, with no commission options and no minimum deposit requirements for some accounts. Asset choice also varies significantly. Currencies and metals like gold and silver are available to all users, but other instruments like futures and crypto can only be traded on select accounts.
Users also benefit from dynamic leverage, which provides them with flexibility as they can adjust leverage in real time based on market conditions and use their capital more efficiently.
XS’s trading performance and support
One of XS’s strongest features is the use of advanced trading technology through its two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both are known for their performance and high-speed execution, but they differ in terms of asset selection and charting capabilities. MT4 was specifically designed to support Forex and CFD trading and provides 9 timeframes and 30 indicators. MT5 offers access to a more comprehensive asset range, including Forex, stocks, gold, futures, options, and crypto, and boasts a larger number of technical indicators, making it more suitable for complex trading endeavors.
Not everyone is confident enough to start trading with real funds from the get-go, which is why XS.com offers a demo account, giving beginners the possibility to test various account types, such as Micro, Classic, and Pro, and practice their trading skills without any financial risk.
For those who are past the demo account phase but still want to benefit from support and guidance, or those who don’t have the time to get into deep market analysis, XS offers copy trading options, allowing users to tap into the expertise of more experienced traders.
Customer support is available in multiple languages, from Monday to Friday, to ensure more efficient communication with clients. If users have any inquiries or encounter issues and need help, they can get in touch with a company representative via chat or email.
Since most retail participants prefer to trade on their mobile devices, XS also puts at clients’ disposal a proprietary app, available on both iOS and Android, so users can access and manage funds conveniently from any location.
The feedback that XS.com receives
With XS being quite a popular broker, there are plenty of comments and reviews from past and current clients that can offer insights into the company’s operations. Most users speak positively about XS, being pleased with the wide variety of options that the platform includes, as well as the numerous technical analysis tools and the transparent and cost-effective fee structure.
However, there are potential drawbacks to keep in mind. The asset offering being largely limited to CFDs and the fact that customer support cannot be contacted on weekends are some of the areas that XS could improve in the future.
Conclusion
The information we’ve analyzed so far shows that XS has the markings of a reliable trading platform, which should put to rest concerns about the broker being a scam. Doing your own research is still necessary, since every trader should make sure that the broker they choose aligns with their personal needs.
FAQs
What types of assets can one trade on the XS platform?
Traders can access all major markets and purchase/sell a wide variety of assets, from currencies and shares to metals, energy, indices, and crypto.
Are clients’ funds and data safe with XS?
XS entities are licensed and regulated by important financial authorities, ensuring legitimacy, and its network is protected by robust security measures, including 2FA, stringent KYC checks, and advanced encryption.
Does XS provide customer support?
The broker offers customer support in multiple languages, available 24/5.
Is XS mobile-friendly?
XS has its own trading app, which can be downloaded on iOS and Android devices.
