Leverage: 1:30 | 1:500
Regulation: ASIC, CySEC, FSA
Min. Deposit: $200
HQ: Cyprus, Australia, Seychelles
Platforms: MT4, MT5, XS Web Trader, XS Mobile Trader
Found in: 2022
XS is a multiregulated brokerage company providing access to traders with multiple asset classes including Forex, Shares, Indices, Metals, Commodities, Cryptos, and Energies. In addition to offering a wide range of assets, the broker provides its clients with competitive trading conditions, flexible funding options, and access to popular MetaTrader trading platforms.
XS Group has entities authorized and regulated in different countries around the world, including Australia, Cyprus, and Seychelles. The regulatory bodies ASIC in Australia, CySEC in Cyprus, and FSA in Seychelles oversee the financial services in their respective jurisdictions and ensure that companies operating within their jurisdiction comply with applicable regulations and guidelines.
Based on our research, XS has both positive and negative aspects to consider when evaluating the company. For the pros, the broker offers reliable and user-friendly trading platforms, including MT4 and MT5, as well as proprietary web and mobile traders. Additionally, the company provides a wide range of trading instruments at competitive prices and spreads.
For the cons, the trading conditions may vary depending on the entity, which could result in higher trading costs for some clients. Traders may also have access to a limited range of trading instruments and markets, depending on the entity they are registered with and the account types.
| Advantages | Disadvantages |
|---|---|
| ASIC and CySEC regulation | Trading conditions might vary based on the entity |
| Available for European and international traders | No comprehensive education available |
| Account segregation | |
| MT4 and MT5 platforms | |
| Negative balance protection | |
| Competitive fees and spreads | |
| White label solution | |
| Variety of funding methods | |
| 24/7 customer support |
| 🏢 Headquarters | Cyprus, Australia, Seychelles |
| 🗺️ Regulation | ASIC, CySEC, FSA |
| 🖥 Platforms | MT4, MT5, XS Web Trader, XS Mobile Trader |
| 📉 Instruments | Forex, CFDs on, Shares, Indices, Metals, Commodities, Cryptos, Energies |
| 💰 EUR/USD Spread | 0.7 pips |
| 🎮 Demo Account | Available |
| 💳 Minimum Deposit | $200 |
| 💰 Base Currencies | EUR, USD, GBP |
| 📚 Education | Provided |
| ☎ Customer Support | 24/7 |
With our findings, the broker provides a secure and reliable trading environment, as well as competitive pricing for its trading instruments. As a result, it can be considered a good trading broker overall for various size or experienced traders.
| Ranking | XS | TopTrader | XGLOBAL Markets |
|---|---|---|---|
| Our Ranking | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Advantages | Trading Conditions | Trading Products | Spreads |
While XS offers competitive pricing and trading solutions, there are other brokers in the market that provide relatively similar services. Therefore, we have conducted a thorough analysis and compiled a list of XS’s top competitors that you would like to consider.
No, XS is not a scam. It is a secure and well-regulated broker that follows the strict rules and guidelines established by reputable regulatory bodies ASIC and CySEC.
Yes, XS is a legit and regulated broker.
Compliance with the regulatory requirements enhances the safety and confidence of traders who tend to trade with XS.
See our conclusion on XS Reliability:
| XS Strong Points | XS Weak Points |
|---|---|
| Negative balance protection | None |
| Funds protection | |
| Segregated accounts | |
| Investors Compensation Fund (ICF) |
We found that XS is committed to ensuring the safety and security of its clients’ funds by segregating them from the firm’s accounts and avoiding their use for operational purposes. Our investigation has also revealed that the broker offers several protective measures, including negative balance protection during times of market turbulence and Investor Compensation Fund Protection, to provide additional assurance for traders’ accounts.
Yet, the regulatory framework is different in each jurisdiction therefore the layers of protection vary too.
While leverage is a helpful tool that allows traders to enter the market with less capital, it is essential to understand that its usage can result in significant gains or losses. Therefore, you should have a thorough understanding of how leverage works and its potential outcomes before engaging in any trading activities that involve leverage.
XS leverage is offered according to ASIC, CySEC, and FSA regulations:
As per our research on XS broker, traders have the option to select either a Standard or Raw account type for trading. However, for clients of the European CySEC entity, there are two account types available: Standard and Premium.
Additionally, new traders have the opportunity to use a Demo account for free, allowing them to practice trading and make trial trades.
| Pros | Cons |
|---|---|
| Fast and easy account opening | None |
| Account base currencies EUR, USD, GBP | |
| Demo account | |
| Fast execution | |
| Micro lot trading |
Opening an account with a broker is quite easy, we can open the account within minutes. You should follow the opening account or sign-in page and proceed with the guided steps:
XS provides its clients with a diverse range of popular markets, including Forex, CFDs on Shares, Indices, Metals, Commodities, Cryptos, and Energies. Among these markets, Forex is the most widely known and offers a high degree of volatility and liquidity with spreads that start as low as 0.0 pips.
For the fees, the broker provides competitive pricing on trading instruments with spreads starting from 0.0 pips. However, fees may vary depending on the type of account and trading platform you choose. Additionally, traders may incur additional charges such as swap or rollover and inactivity fees.
| Fees | XS Fees | TopTrader Fees | XGLOBAL Markets Fees |
|---|---|---|---|
| Deposit fee | Yes | No | No |
| Withdrawal fee | Yes | No | No |
| Inactivity fee | Yes | Yes | Yes |
| Fee ranking | Low/Average | Low/Average | Low |
Based on our test trade, XS’s clients are offered floating spreads, with an average spread of 0.7 pips for the popular EUR/USD currency pair in Forex trading which is a quite competitive proposal compared to the industry average, making it an appealing choice for traders across multiple markets.
Moreover, the broker provides tight spreads as low as 0.0 pips on all major currency pairs and other popular instruments.
| Asset/ Pair | XS Spread | TopTrader Spread | XGLOBAL Markets Spread |
|---|---|---|---|
| EUR USD Spread | 0.7 pips | 0.7 pips | 0.2 pips |
| Crude Oil WTI Spread | 3 | 0.062 | 0.035 |
| Gold Spread | 1 | 0.2 | 0.11 |
XS provides multiple options for funding your trading account, including bank wire transfers, credit/debit cards, and online payment systems such as Skrill and Neteller. You should keep in mind that the specific requirements and limitations for each funding method may differ based on the financial institution and your country of residence.
Here are some good and negative points for XS funding methods found:
| XS Advantage | XS Disadvantage |
|---|---|
| Fast digital deposits | Methods and fees might vary in each entity |
| Multiple account base currencies | |
| Variety of funding methods |
In terms of funding methods, XS offers the following payment methods:
To open a live trading account with the broker, you need to deposit $200 as an initial deposit amount, which is considered a good offering overall.
XS minimum deposit vs other brokers
| XS | Most Other Brokers | |
| Minimum Deposit | $200 | $500 |
You can expect a smooth and quick withdrawal process with XS, as the broker promises to process withdrawal requests within one business day, ensuring that clients can access their funds immediately.
The broker offers clients the ability to trade on two of the most well-known and widely used trading platforms, MetaTrader 4 and MetaTrader 5, as well as proprietary XS Web Trader, and XS Mobile Trader platforms. These platforms are renowned for their ease of use, extensive range of features, and automated trading capabilities, allowing traders to trade confidently and at their own pace.
Additionally, MT4 and MT5 trading platforms are accessible through desktop, web, or mobile devices, giving traders the flexibility to stay connected to the markets and trade at any time, making it a beneficial trading opportunity that may be suitable for a wide range of traders.
| Platforms | XS Platforms | TopTrader Platforms | XGLOBAL Markets Platforms |
|---|---|---|---|
| MT4 | Yes | No | No |
| MT5 | Yes | Yes | Yes |
| cTrader | No | No | No |
| Own Platforms | Yes | Yes | No |
| Mobile Apps | Yes | Yes | Yes |
Per our research, traders using XS can benefit from advanced charting features with various chart types, multiple timeframes, and technical indicators that can help with market analysis. The platform also comes with a built-in economic calendar displaying scheduled events and news releases that may impact the markets, allowing traders to plan their trades accordingly.
Traders can access 24/7 multilingual customer support through Live chat, Email, Phone Support, and an Online Query Form at XS. We found that the broker’s support team is composed of experienced trading professionals who can assist clients with various issues, including technical problems, market analysis advice, general inquiries, and operational concerns.
See our find and ranking on Customer Service Quality:
| Pros | Cons |
|---|---|
| 24/7 customer support | None |
| Live chat, phone support, email | |
| Quick responses | |
| Relevant answers |
In the end, the broker has created an Education Experts Program, which is aimed at partnering with those who specialize in education and training. This program is open to educational centers, websites, or experts who conduct educational seminars or webinars. Yet, the Broker did not develop its research materials so from the client’s perspective it is not widely available.
In summary, XS is a reputable online broker that offers a good range of financial instruments to trade with competitive spreads offering. We admit swift execution and various funding methods. Trading with XS is accessible through two of the most popular trading platforms, MT4 and MT5, which are available on desktop, web, and mobile devices. Yet, the broker does not have a separate section for educational resources and research which is not so suitable for beginners.
As we found with its focus on transparency, security, and client satisfaction, XS is a suitable option for traders of all levels. However, we recommend conducting thorough research before choosing XS as your broker to ensure that it suits your trading requirements.
Based on Our findings and Financial Expert Opinions XS is Good for:
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