XS Review: Features, Accounts, and Trading Terms
Dom Farnell
Co-Founder
Dom is a Co-Founder of TIC, a passionate investor and seasoned blog writer with a keen interest in financial markets and wealth management. "My goal is to empower individuals to make informed investment decisions through informative and engaging content."
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XS is a well-regarded trading platform known for its extensive range of tradable assets, strong regulatory compliance, and user-friendly interface. With features catering to both beginners and experienced traders, it provides a comprehensive trading environment with robust security measures and competitive spreads. This comprehensive XS Review 2024 will delve into the broker’s features, accounts, trading terms, and safety measures to help you determine if XS.com is the right fit for your trading needs.
XS Review 2024: Pros and Cons
Here’s a quick breakdown of the pros and cons of XS to give you a clear picture of what trading with XS.com is like.
Pros
- Regulatory Compliance:com operates under strict regulations and offers its users a safe trading environment. The broker is licensed by the FSA, ASIC, CySEC, and LFSA, among others.
- Platform Features: The platform is well-designed, user-friendly, and easy to use, whether you’re a beginner or an advanced trader.
- Wide Range of Tradable Assets: Includes shares, indices, metals, energy, cryptocurrencies, forex, commodities, and futures.
- Dynamic Leverage Options: Up to 1:2000 leverage, adjusted based on trade volume.
- Multilingual Customer Support: Comprehensive support in multiple languages.
- Insurance Coverage: Civil Liability Insurance Program for added security.
Cons
- Regional Restrictions: Not available in the USA, North Korea, or Iran.
- Spread and Commission Structure: Some account types have commissions, which might not suit all traders.
Overall Summary
XS is getting globally recognized by traders and financial institutions due to its wide range of features. The broker offers premium trading services catering to beginners with a clear interface and advanced traders with a wide range of helpful tools.
Here’s a quick summary of its most prominent characteristics.
Key Features
- Wide Range of Tradable Instruments: Including shares, indices, metals, energy, cryptocurrencies, forex, commodities, and futures.
- Insurance coverage covering losses exceeding USD 10,000 and up to USD 5,000,000.
- Dynamic leverage up to 1:2000.
- Swap-free trading for those who do not engage in swap trading for religious reasons.
- Multiple funding options with some methods requiring as little as 15 USD.
- Fast and easy withdrawal methods with some options having unlimited withdrawals.
Usability
- User-Friendly interface that’s easy to navigate but also rich with options catering to beginner and novice traders.
- Demo Account replicating the real-life trading experience with virtual money. Very useful for those looking to test out their strategies before using their funds.
- Multilingual customer support with the team speaking in 11 languages (English, Arabic, Korean, Japanese, among others) making the platform accessible to traders across the world.
Market Positioning
- Competitive Spreads and Premium Trading Experience: XS offers its users multiple trading account types to choose from, with wide access to tradable assets, competitive spreads, and some accounts having no commissions.
- Regulatory Compliance: XS is licensed by multiple prestigious institution bodies with licenses from FSA, ASIC, CySEC, and LFSA, among others.
- Global Recognition: XS has managed to catch the attention globally and has gained multiple awards like “Broker of the Year” and “Best Partnerships Program”.
- Multiple Partnership Programs: The broker has multiple partnership programs such as introducing brokers, asset managers, influencers, digital affiliates, among others. These programs are versatile and suit the needs of a wide range of partners.
Therefore, XS offers multiple standout features for its clients while maintaining ease of use and advanced security.
Is XS Safe to Trade With?
XS.com takes multiple measures to ensure the safety and security of its clients. Here are the key aspects of its safety protocols:
Regulations
XS.com is regulated by several reputable financial authorities:
- Financial Services Authority of Seychelles (FSA) with license number (SD089)
- Australian Securities and Investments Commission (ASIC) with license number (374409)
- Cyprus Securities and Exchange Commission (CySEC) with license number (412/22)
- Labuan Financial Services Authority (LFSA) in Malaysia with license number MB/21/0081
- South African Financial Sector Conduct Authority (FSCA) with license number 53199
These regulations ensure that XS.com operates under strict guidelines, providing a secure trading environment for its clients.
Client Fund Protection
- Segregation of Funds: Client funds are segregated from company funds and maintained with top-tier financial institutions.
- Protection Against Insolvency: Ensures that client assets remain protected even if the company faces financial difficulties.
Advanced Security Protocols
- Data Encryption: Ensures all data transmitted between clients and the broker is encrypted.
- Two-Step Verification: Adds an extra layer of security to client accounts.
- Strict Password Requirements: Ensures solid and secure passwords are used.
- Regular External Audits: Maintains the integrity of security measures.
Insurance Coverage
- Civil Liability Insurance Program: Underwritten by Lloyd’s of London, covering losses exceeding USD 10,000 up to USD 5,000,000, protecting clients against fraud, negligence, and other risks.
Offering of Investments: What Can You Trade with XS?
XS.com offers its clients access to a wide range of tradable assets as well as different account types with different features, catering to all traders’ preferences.
Tradable Assets
- Shares: Access to a wide range of shares from global markets, allowing traders to engage with major companies.
- Indices: Trade on major global indices, such as the S&P 500 and NASDAQ.
- Metals: Precious metals like gold and silver, offering safe-haven assets.
- Energy: Commodities like oil and natural gas, crucial for diversified portfolios.
- Cryptocurrencies: Popular cryptocurrencies such as Bitcoin and Ethereum, providing access to the digital currency market.
- Forex: A robust selection of major, minor, and exotic currency pairs for trading around the clock.
- Commodities: Various commodities, including agricultural products.
- Futures: Contracts for various assets, enabling speculative trading on future prices.
Account Types
XS.com provides a variety of account types to suit different trading needs and preferences. These accounts offer access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Preferred Account Types
Cent Account
- Target Users: New traders
- Features: Average spread of 1.1 on EURUSD, no commissions
- Platform: MT5
Standard Account
- Target Users: All levels of traders
- Features: Average spread of 1.1 on EURUSD, no commissions
- Platform: MT4 and MT5
Micro Account
- Target Users: Traders preferring smaller lots
- Features: Average spread of 1.1 on EURUSD, no commissions
- Platform: MT5
Professional Account Types
Elite Account
- Target Users: Experienced traders
- Features: Average spread of 0.1 on EURUSD, $3 commission per side
- Platform: MT4 and MT5
Pro Account
- Target Users: Seasoned traders
- Features: Average spread of 0.7 on EURUSD, no commissions
- Platform: MT4 and MT5
VIP Account
- Target Users: High-net-worth individuals
- Features: Average spread of 0.1 on EURUSD, commission-based trading
- Platform: MT5
Partners Special Account Types
Extra Account
- Target Users: Partners needing specialized trading conditions
- Features: Average spread of 2.1 on EURUSD, no commissions
- Platform: MT4 and MT5
Classic Account
- Target Users: Traders seeking reliable and straightforward features
- Features: Average spread of 1.6 on EURUSD, no commissions
- Platform: MT4 and MT5
Commissions and Fees
The commissions and fees vary depending on which account you’re using.
Spreads and Costs
XS offers competitive spreads and fees across its various account types. For instance, the Cent, Standard, and Micro accounts typically feature average spreads of 1.1 on EURUSD with no commissions.
The Elite account, tailored for experienced traders, offers an exceptionally low average spread of 0.1 on EURUSD, with a commission of $3 per side.
Hidden Fees
XS maintains a transparent fee structure, ensuring that traders are not surprised by hidden fees. However, it’s always advisable for traders to review the specific terms and conditions associated with their chosen account type to fully understand any potential charges.
XS Review 2024: Unique Features of XS.com
XS has its own set of features making it stand out among other brokers in the industry.
Dynamic Leverage
XS.com employs a dynamic leverage model that adjusts based on the volume of clients’ trades, offering up to 1:2000 leverage. This model ensures that the maximum leverage decreases as trade volumes increase, providing tailored leverage levels to manage risk effectively.
Swap-Free Trading
XS offers swap-free trading accounts, also known as Islamic Accounts, designed for traders who cannot engage in interest-related transactions due to religious beliefs. These accounts are free from swap or rollover fees, ensuring fair and transparent trading conditions.
Multilingual Customer Support
XS.com provides multilingual customer support in various languages, including English, Arabic, French, Portuguese, Spanish, Traditional Chinese, Simplified Chinese, Korean, Thai, Vietnamese, and Japanese, ensuring accessibility for traders worldwide.
Awards and Global Presence
As a testament to its dedication to excellence and innovation, XS has been honored with numerous prestigious awards across the globe. These awards highlight XS’s commitment to providing top-tier trading services and exceptional partnership programs.
Here are some of the notable awards XS has received:
- Broker of the Year: Awarded by Ultimate Fintech at the UF Awards Global 2024 in Limassol, Cyprus (June 2024).
- Best Partnership Programs: Recognized at the Forex Traders Summit by Smart Vision in Dubai, UAE (May 2024).
- Global Powerful Brand: Honored at the Global Business Conclave by White Page International in London, UK (April 2024).
- Best Multi-Asset Broker – LATAM: Awarded by Ultimate Fintech at the UF Awards LATAM 2024 in Mexico City, Mexico (April 2024).
- Most Secure Broker: Recognized at the Oman Summit by Smart Vision in Muscat, Oman (February 2024).
- Best Global Broker: Awarded by Afaq Group at the Qatar Financial Expo QFEX in Doha, Qatar (February 2024).
Partnership Programs with XS
As a global leader in the fintech and financial services industry since 2010, XS understands the importance of forging long-term, successful partnerships. Therefore, the broker offers a variety of partnership programs tailored to meet the needs of a diverse range of partners, enabling them to grow their businesses and enhance their potential returns.
Here are the different partnership opportunities available:
1. Introducing Brokers (IB) Program
The Introducing Broker (IB) program allows you to receive commissions by introducing clients to XS. As an IB, you can work from anywhere and promote XS through your website or social media channels. The program offers numerous benefits, including:
- Dedicated Relationship Manager: Ensures your business growth and client satisfaction.
- Advanced Tracking Tools: Monitor your performance and earnings in real time.
- Exclusive Marketing Materials: Access promotional content to attract more clients.
- Flexible Payout Options: Withdraw your earnings through multiple reliable methods.
2. Asset Management Solutions
XS asset management solutions are designed for professional traders, money managers, and asset managers who trade on behalf of their clients. These solutions offer:
- Trading on Client Accounts: Asset managers can trade on behalf of their clients.
- View-Only Access for Clients: Clients can monitor their accounts while professionals manage their trades.
3. Influencers Program
Recognizing the power of influencer marketing, XS has developed a program for individuals with a strong online or offline presence. This program allows influencers to:
- Promote XS to a Loyal Audience: Increase brand awareness and introduce clients to our services.
- Access Advanced Technology: Offer your followers the best trading experiences in the financial industry.
4. Digital Affiliates Program
The Digital Affiliates program is ideal for digital marketers, including website owners, media buyers, email marketers, affiliate networks, and bloggers. Benefits include:
- Dedicated Relationship Manager: Supports your business growth and client satisfaction.
- Advanced Tracking Tools: Monitor performance and earnings.
- Exclusive Marketing Materials: Attract more clients with professional promotional content.
- Flexible Payout Options: Withdraw earnings through various reliable methods.
5. Local Partners Program
XS values local customer support and understands the importance of regional expertise. The Local Partners program allows you to:
- Leverage Local Connections: Use your strong ties within the trading community.
- Offer Advanced Technology: Provide clients with the best trading experiences.
6. Education Experts Program
XS believes in the power of education and offers a program for those dedicated to educating traders. This program supports:
- Educational Centers and Websites: Partner with institutions focusing on trader education.
- Seminars and Webinars: Collaborate with experts conducting educational events.
How do I Trade With XS?
Trading with XS is straightforward. Here are the steps to get started:
- Open an Account: Visit the XS.com website and click the “Register” button. Fill out the required details to create your account.
- Fund Your Account: Choose from various funding options such as bank transfer, VISA, MasterCard, Skrill, and Neteller. Some methods require a minimum deposit as low as 15 USD.
- Choose an Account Type: Select an account type that suits your trading style and preferences.
- Start Trading: Access the MT4 or MT5 platform, choose your preferred assets and begin trading.
Quick Tutorial on Opening an Account with XS
Visit the XS.com website and click “register” in the top right corner.
Then, fill out the required details on the registration page. Before proceeding, make sure to read all the linked documents.
Then, input the confirmation code sent to your email address and click continue to complete your account creation process.
Now that your account has been created, you have to set it up. Watch this video to know how to set up your trading account with XS.
Mobile Trading Apps and Trading Platforms
XS.com offers mobile trading apps for both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), allowing traders to manage their accounts and trade on the go.
These apps, available on IOS and Android, provide access to real-time market data, customizable charts, and a range of trading tools to enhance the mobile trading experience.
XS also offers access to MT4 and MT5 on desktop so you can trade wherever you like.
Market Research
XS.com offers extensive market research resources, including daily market analysis, economic calendars, and trading signals. These resources are designed to help traders make informed decisions and stay updated on market trends and developments.
Education
XS.com provides a range of educational resources, including webinars, tutorials, and trading guides. These resources are aimed at helping both beginner and experienced traders enhance their trading skills and knowledge.
XS Review 2024: Final Thoughts
This XS Review 2024 demonstrates that XS.com is a reliable, globally regulated broker with a strong emphasis on security and client protection. Here’s a comprehensive recap of XS’s strengths and weaknesses:
Strengths
- Regulatory Compliance: XS.com operates under strict regulations from bodies like the FSA, ASIC, CySEC, and LFSA, ensuring a safe trading environment.
- Platform Features: The platform is user-friendly and well-designed, catering to both beginners and advanced traders.
- Wide Range of Tradable Assets: Includes shares, indices, metals, energy, cryptocurrencies, forex, commodities, and futures.
- Dynamic Leverage Options: Offers up to 1:2000 leverage, adjusted based on trade volume.
- Multilingual Customer Support: Provides comprehensive support in multiple languages.
- Insurance Coverage: Includes a Civil Liability Insurance Program for added security.
Weaknesses
- Regional Restrictions: Not available in the USA, North Korea, or Iran.
- Spread and Commission Structure: Some account types have commissions, which might not suit all traders.
With diverse account types, advanced trading platforms, and unique features, XS caters to both beginner and advanced traders. If you’re looking for a trusted broker with a solid reputation, XS is a commendable choice.
FAQ
How Do I Withdraw Funds from XS.com?
Withdrawals can be made using the same methods as deposits, including bank transfer, VISA, MasterCard, Skrill, and Neteller. The process is straightforward, and the broker provides detailed instructions on their website.
What Is the Minimum Deposit with XS.com?
The minimum deposit amount with XS.com varies depending on the funding method. Some methods require as little as 15 USD.
Does XS.com Offer a Demo Account?
Yes, XS.com provides a demo account for testing trading strategies with virtual funds. The demo account allows you to practice trading strategies, familiarize yourself with the trading platforms, and simulate real market conditions.
Where Does XS.com Not Operate?
XS.com does not operate in the USA, North Korea, or Iran due to regional restrictions. Traders from these regions cannot open accounts or trade with XS.
Is XS.com Good for Beginners?
Yes, XS.com is suitable for beginners. The broker offers different account types that cater to both beginner and advanced traders. Additionally, they have 24/7 customer support, always ready to answer questions and help you through any hiccups you might face.