XS Forex Broker
Basic Information
Mauritius
2-5 years Regulated in Australia Regulated in Seychelles Regulated in Malaysia Regulated in South Africa Institution Forex License (STP) Retail Forex License Straight Through Processing (STP) Financial Service Corporate MT4 Full License MT5 Full License Global Business Suspicious Overrun High potential risk Offshore RegulatedCompany profile
Rating Index
Pros
Well-regulated by top-tier authorities, ensuring a secure trading environment.
Offers a diverse range of trading assets, including forex, cryptocurrencies, and commodities.
Low trading fees with spreads starting from 0.6 pips and no inactivity fees.
Cons
High minimum deposit requirement of $1,000, which may be a barrier for beginner traders.
Limited customer support options, primarily relying on virtual assistants instead of live representatives.
Lack of educational resources and research tools on the platform, which may hinder novice traders.
XS Forex Broker - Complete Information Guide
1. Broker Overview
XS Group, operating under the brand name XS, was established in 2010 in Australia. The company is headquartered in Eden Island, Seychelles, with multiple offices across various regions. XS is a privately held company, which allows for greater flexibility in its operations and decision-making processes.
The primary markets served by XS include retail forex traders, institutional clients, and financial service providers. The broker has developed a robust client base that spans across Europe, Australia, Africa, and other international markets. Over the years, XS has achieved significant milestones, including regulatory approvals from multiple reputable financial authorities, enhancing its credibility in the trading industry.
XS operates as a multi-asset broker, providing access to a wide array of financial instruments, including forex, CFDs on shares, commodities, indices, and cryptocurrencies. The company's business model focuses on retail forex trading, catering to both novice and experienced traders with a variety of account types and competitive trading conditions. The commitment to client satisfaction and regulatory compliance has positioned XS as a trusted broker in the financial services sector.
2. Regulatory and Compliance Information
XS operates under a stringent regulatory framework, ensuring a secure trading environment for its clients. The broker holds licenses from several prestigious regulatory bodies, including:
- Australian Securities and Investments Commission (ASIC) - License Number: 374409
- Cyprus Securities and Exchange Commission (CySEC) - License Number: 412/22
- Financial Services Authority of Seychelles (FSA) - License Number: SD 089
- Labuan Financial Services Authority (LFSA) - License Number: MB/21/0081
- Financial Sector Conduct Authority (FSCA) - License Number: 53199
These licenses provide a robust oversight mechanism, ensuring that XS adheres to the highest standards of financial conduct and client protection. The regulatory framework under which XS operates allows for a wide range of trading services while maintaining compliance with local laws and regulations in each jurisdiction.
XS employs a client fund segregation policy, ensuring that clients' funds are kept separate from the company's operational funds. This practice enhances the security of client assets, providing an additional layer of protection. Furthermore, XS participates in investor compensation schemes where applicable, offering further assurance to traders regarding the safety of their investments.
The broker adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, implementing strict verification processes to prevent fraud and ensure compliance with international standards.
3. Trading Products and Services
XS offers an extensive range of trading products, catering to diverse trading needs. The broker provides access to over 1,000 trading instruments, including:
- Forex Currency Pairs: XS offers a variety of major, minor, and exotic currency pairs, allowing traders to engage in the global forex market effectively.
- CFDs on Shares: Traders can access a wide selection of CFDs on shares from leading global companies, enabling them to capitalize on stock market movements.
- Indices: XS provides trading options on major indices, including the S&P 500, NASDAQ, and FTSE 100, among others.
- Commodities: The broker offers CFDs on various commodities, including precious metals like gold and silver, as well as agricultural products and energy resources.
- Cryptocurrencies: XS supports trading in popular cryptocurrencies such as Bitcoin and Ethereum, catering to the growing demand in the digital asset market.
The broker regularly updates its product offerings to include new instruments and asset classes, ensuring that clients have access to a comprehensive trading experience. Additionally, XS provides retail trading services and specialized solutions for institutional clients, including white-label options and asset management services.
4. Trading Platforms and Technology
XS supports two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are renowned for their user-friendly interfaces and robust features, making them suitable for traders of all experience levels.
- MetaTrader 4 (MT4): This platform is widely recognized for its simplicity and reliability, particularly in forex trading. It offers essential trading tools, customizable charts, and automated trading capabilities through Expert Advisors (EAs).
- MetaTrader 5 (MT5): The newer version, MT5, provides enhanced features, including more timeframes, additional order types, and advanced charting tools, making it ideal for multi-asset trading.
XS also offers a web-based trading platform, allowing traders to access their accounts and trade directly from their browsers without the need for software downloads. This flexibility ensures that traders can manage their accounts and execute trades from any device with an internet connection.
The broker's trading infrastructure is designed to facilitate fast and efficient order execution, with servers located in strategic locations to minimize latency. XS supports API access and automated trading, enabling traders to implement their strategies seamlessly.
5. Account Types and Trading Conditions
XS offers a variety of account types to cater to different trading styles and preferences:
- Standard Account: This account type has no minimum deposit requirement, with average spreads starting at 1.1 pips and no commissions. It is suitable for general traders.
- Pro Account: Designed for more experienced traders, this account offers tighter spreads averaging 0.7 pips and requires a minimum deposit of $500.
- Elite Account: The elite account is tailored for professional traders, providing the lowest spreads of 0.1 pips with a commission of $3 per side. A minimum deposit of $500 is required.
- Cent and Micro Accounts: Ideal for newcomers, these accounts allow for smaller trade sizes and minimal risk exposure, with average spreads starting at 1.2 pips.
XS also provides demo accounts for traders to practice risk-free and swap-free accounts for those who prefer to avoid rollover fees. The broker offers dynamic leverage options, with maximum leverage reaching up to 1:2000 depending on the account type and asset class.
6. Fund Management
XS supports a range of deposit methods, ensuring flexibility for traders to fund their accounts conveniently. Accepted payment methods include:
- Bank Transfers
- Credit/Debit Cards (Visa and Mastercard)
- E-wallets (Skrill, Neteller, Perfect Money, etc.)
The minimum deposit requirements vary by account type:
- Standard, Micro, and Cent Accounts: No minimum deposit required.
- Pro and Elite Accounts: Minimum deposit of $500.
Deposits are processed quickly, with most methods providing instant transactions, while bank transfers may take 1-7 business days. XS does not charge any deposit fees, ensuring that traders can fund their accounts without incurring additional costs.
Withdrawals can be made through the same methods as deposits, with the processing time depending on the chosen payment method. XS maintains a transparent withdrawal fee structure, with no fees charged for withdrawals. However, some payment providers may impose their own fees.
7. Customer Support and Educational Resources
XS prioritizes customer support, offering 24/5 assistance through various channels, including:
- Live Chat
- Callback Requests
The support team is multilingual, catering to clients from different regions. However, response times may vary during peak hours due to high inquiry volumes.
While XS provides a blog with market analysis and trading insights, the educational resources available are relatively limited. Traders seeking comprehensive educational materials may need to explore additional external sources. The broker offers tools such as trading calculators and economic calendars to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
XS operates in multiple regions worldwide, with a focus on serving clients from Europe, Australia, and Africa. However, there are specific countries where XS does not offer its services due to regulatory restrictions. These countries include:
- United States
- Iran
- North Korea
- Canada
- France
- Belgium
- United Kingdom
The broker is committed to ensuring compliance with local laws and regulations, which is why it has established restrictions in these regions.
In conclusion, the XS broker is a well-regulated and versatile trading platform that offers a comprehensive suite of financial products and services. With a strong commitment to client satisfaction and regulatory compliance, XS provides traders with a secure and efficient trading environment.
XS Similar Brokers
Latest Reviews
FX5137562772
Japan
The website operation has some slightly confusing aspects, but once you get used to it, you can use it without any problems. The trading environment features tight spreads and stable execution rates, allowing for secure trading. Leverage up to 200x.
37130
08-18
きのこまん
Japan
Agreements are good, deposits and withdrawals are also good. With high leverage and tight spreads, it's great for serious users. The live chat support is high-level, so you can feel secure when in trouble. They regularly hold trading competitions, which I enjoy participating in.
Positive
08-17
luna2001
Hong Kong
Small commissions are agreed to be withdrawn, but when the commission reaches a large amount, it cannot be withdrawn. I applied for a withdrawal of 28000USD, which has been reviewed for 14 days.Every time I ask the customer service, I answer that it is under review. They sent me a selfie verification email, saying that they could pass the audit after passing the verification. When I passed the selfie verification, they didn't abide by the agreement. Please agree to my withdrawal as soon as possible.
Exposure
2d