Security, regulation, and account types

A review of XS CFD Broker examines how regulated trading platforms support users from beginner to advanced levels through evolving account features.

Every person’s trading journey is different, which is why using the right tools and platforms can better personalize an experience so users can trade according to their experience and goals. Someone may think they need a separate platform from professionals if they’re a beginner, but as technology has improved and brokers have evolved, users can use one platform to start trading and then evolve as an individual towards an expert level.

Research is important in this matter because a platform should be regulated so it’s safe, as well as packed with account options and various features that support trading. Thus, this article will review a popular platform, XS CFD broker, to determine if its features can adapt to users’ trading needs, starting from the regulations for the group licenses to the account types and available markets, so they can have the basic information to form an opinion. 

Luckily, it’s possible to create a demo account on XS to experiment with it, which is considerably helpful to see if the right broker has been found.

Pros of XS.com:

• Funds are covered by insurance
• Access to advanced trading options
• Benefit from premium trading conditions
• Account can be funded or withdrawn fast and easy
• Customer support comes in a series of languages
• Account is secured by the regulations

Cons of XS.com:

• There are maximum deposits and withdrawal amounts depending on the intermediary;
• Customer support is only available 24/5 and not 24/7;

What is XS.com, and is it safe?

XS.com is a multi-asset trader since 2010 when it was established in Australia, but has since evolved to a global market leader in the FinTech industry. As an online broker, XS follows the mission of helping worldwide traders expand their horizon by offering advanced trading platforms and access to markets and asset classes so they can approach a Smart Money Concept (SMC) for efficient trading.

Users can leverage the benefits of XS as a broker on several channels, from the mobile app XS Trading App to the other platforms MT4 and MT5 available on desktop, Windows/Apple, or the Play Store/App Store. These options offer accessibility in managing a portfolio and monitoring trades.

Is XS.com safe?

As a trader in a market that has volatile asset classes, the first priority should be the safety of trades, and despite the fact that features like the order block help traders better manage the market, they need more protection. XS Forex broker helps with that by making sure every one of its customers is secured by the Civil Liability Insurance Program under Lloyd’s of London. Basically, when a new account is opened here, it is automatically protected, and the program will cover losses for cases like omission or fraud at no cost to the customer.

Insurance coverage starts from $10,000 and can go as much as $5,000,000, and the compensation is the result of the XS transparent security and commitment to protect users. The insurance is also a step towards complying with leading industry standards, but the company also holds assets as clients in segregated accounts from the XS ones and follows the security standards of advanced protocols.

What regulations does XS.com follow?

Since XS expanded across the globe, its group licenses had to follow strict regulations for each jurisdiction so it could be a safe and reputable broker:

• XS Ltd is regulated by the Financial Services Authority of Seychelles (FSA) in Seychelles;
• XS Prime Ltd is coordinated by the Australian Securities and Investments Commission (ASIC) in Australia;
• XS Markets Ltd is licensed by the Cyprus Securities and Exchange Commission (CySEC);
• XS Finance Ltd is certified by the Financial Services Authority of Labuan (LFSA) in Malaysia;
• XS ZA (Pty) Ltd is authorized by the Financial Sector Conduct Authority (FSCA) in South Africa;
• XS Trade Services Ltd is accredited by the Financial Services Commission of Mauritius (FSC);
• XSTrade Financial Consultation L.L.C is regulated by the Securities and Commodities Authority (SCA) in Dubai;
• XS Online is authorized by the legislation in the State of Kuwait;
• XS (LC) LTD is recognized under the laws of Saint Lucia;
• XS Ltd is operating according to the laws in Saint Vincent and the Grenadines;

What types of accounts can be created at XS.com?

Traders can benefit from a personalized experience when opening a new account at XS.com, besides the demo account, which is available for anyone who wants to try out its functions. Beginners can check out the Preferred suite that includes three different account types, like the Standard account with 1.1 average spread and no commissions. The Cent account offers cent lots without commissions, but only for currencies and metals, while the Micro account has micro lots for more instruments at a 1.1 spread.

When the next level is reached, traders can open an account from the Professional suite, such as the Pro account that starts at a $500 minimum deposit for a 0.7 spread. The Elite account offers a 0.1 spread with commission per round turn, while the VIP account, which starts at a $100,000 minimum deposit, also has commissions for a 0.1 spread for instruments.

Finally, business Partners also have their category available with accounts like the Classic one with a 1.6 spread and no commissions, or the Extra account with a 2.1 spread for instruments. The Plus account is also available with a 0.1 spread and different commissions per round turn.

What platforms can be used on XS.com?

There are two main platforms that can be accessed for trading on XS.com, starting with MetaTrader 4, which is suitable for beginners. The benefits include an easy-to-navigate interface along with advanced charting tools and options like the Xhmaster Formula Indicator that offer insights on where the market is turning. Multiple order types can also be done on the platform, such as market limit and trailing stop orders. Or, work with MetaTrader 5 as an expert trader and take advantage of superior features such as built-in economic calendar, hedging capabilities, and premium trading conditions in order to elevate the experience.  

What are the asset classes available on XS.com?

At XS.com, traders can access a vast array of asset classes to diversify their portfolio, like international shares from the EU or US, or indices from reputable companies like Standard & Poor’s and the EURO STOXX 50. If trading commodities like metals, they can choose between precious (gold) and base (aluminum) contracts, or opt for Energy commodities from Brent Crude Oil or Natural Gas. Futures contracts offer all sorts of OTC assets like crude oil, indices, and gold.

Forex currency pairs of Minor, Major, and exotic categories also go great hand in hand with cryptocurrencies like Bitcoin and Ethereum, but remember, trading them is different, especially when taking into account the liquidity sweep factor that tends to be more intense in crypto than in Forex.

What do other users say about XS.com?

This review would be incomplete without checking out the online XS comments, which are necessary to show what clients like or dislike about the broker. For example, going on Reddit shows that many people trust the broker due to the many regulations it has achieved, reputable ones like ASIC, and prefer it to other brokers due to the insurance program. People have also stated that doing deposits and withdrawals is pretty fast and safe, which is a plus. However, some stated that making a withdrawal through a card takes time, so withdrawal delays have been one of the complaints online.

A customer can file an XS complaint in case of any issue, and the staff will get back to them as soon as possible through email. Usually, customers can also contact someone from customer support through online chat and only select the language they want to communicate in, as there are many available.

Conclusion: Is XS.com safe or not?

After checking what XS.com can offer to traders, it can be said that the platform appears to be a solid and safe broker and not a scam, especially since it has so many regulations across the globe. It offers insurance to cover potential losses, supports access to a vast array of assets, and allows personalizing a trading experience.

FAQ

1. What is the XS.com broker?

XS.com is an online broker that started operating in 2010 in Australia and became a global multi-asset broker.

2. Is XS.com safe?

XS.com is a safe broker because it follows strict regulations from reputable institutions like ASIC and CySEC.

3. What can someone trade with XS.com?

XS offers access to many asset classes from Forex and cryptocurrencies to stocks, commodities, and Energy contracts.

4. What platforms does XS have?

XS can be traded through MetaTrader 4 and MetaTrader 5, two reputable trading platforms in the industry.