XS Review




  • 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 Licenses:

  • XS Prime Ltd - authorized by ASIC (Australia) license no 374409
  • XS Markets Ltd - authorized by CySEC (Cyprus) license no 412/22
  • XS Ltd - authorized by FSA (Seychelles) license no SD089

Top 3 Forex Brokers

  1. What is XS?
  2. XS Pros and Cons
  3. Is XS Safe or a Scam?
  4. Leverage
  5. Accounts
  6. Instruments
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading conditions, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see proposals fully to give expert opinion about XS.

What is XS?

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.

XS Pros and Cons

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.

ASIC and CySEC regulationTrading conditions might vary based on the entity
Available for European and international tradersNo 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

XS Review Official Website

XS Review Summary in 10 Points
🏢 HeadquartersCyprus, Australia, Seychelles
🗺️ RegulationASIC, CySEC, FSA
🖥 PlatformsMT4, MT5, XS Web Trader, XS Mobile Trader
📉 InstrumentsForex, CFDs on, Shares, Indices, Metals, Commodities, Cryptos, Energies
💰 EUR/USD Spread0.7 pips
🎮 Demo AccountAvailable
💳 Minimum Deposit$200
💰 Base CurrenciesEUR, USD, GBP
📚 EducationProvided
☎ Customer Support24/7

Overall XS Ranking

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.

  • XS Overall Ranking is 8.5 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
RankingXSTopTraderXGLOBAL Markets
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesTrading ConditionsTrading ProductsSpreads

XS Alternative Brokers

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.

Is XS Safe or Scam?

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.

Is XS Legit?

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:

  • Our Ranked XS Trust Score is 8.7 out of 10 for the good reputation and services provided.
XS Strong PointsXS Weak Points
Negative balance protectionNone
Funds protection
Segregated accounts
Investors Compensation Fund (ICF)

How Are You Protected?

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.

XS Review License


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:

  • The maximum leverage level for Australian clients is 1:30.
  • European traders are eligible to use a maximum of up to 1:30 for major currency pairs.
  • International entity clients can use leverage up to 1:500 for professional trading.

Account Types

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.

Fast and easy account openingNone
Account base currencies EUR, USD, GBP
Demo account
Fast execution
Micro lot trading

XS Review Account Types

How to Open XS Live Account?

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:

  • Select and Click on the “Open Account” page
  • Enter the required personal data (Name, email, phone number, etc.)
  • Verify your personal data by upload of documentation (residential proof, ID, etc.)
  • Complete the electronic quiz confirming your trading experience
  • Once your account is activated and proven, follow with the money deposit.

Trading Instruments

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.

  • XS Markets Range Score is 8.5 out of 10 for wide trading instrument selection overall. Yet, on the other hand, many popular asset classes, such as futures and bonds are not available to trade.

XS Review Trading Instruments

XS Fees

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.

  • XS Fees are ranked low or average with an overall rating of 8 out of 10 based on our testing and compared to over 500 other brokers for all fees applied.
FeesXS FeesTopTrader FeesXGLOBAL Markets Fees
Deposit feeYesNoNo
Withdrawal feeYesNoNo
Inactivity feeYesYesYes
Fee rankingLow/AverageLow/AverageLow


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.

  • XS Spreads are ranked low with an overall rating of 8.9 out of 10 based on our testing comparison to other brokers. We found Forex spread lower than the industry average and spreads for other instruments are competitive too.

Asset/ PairXS SpreadTopTrader SpreadXGLOBAL Markets Spread
EUR USD Spread0.7 pips0.7 pips0.2 pips
Crude Oil WTI Spread30.0620.035
Gold Spread10.20.11

Deposits and Withdrawals

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.

  • XS Funding Methods we ranked good with an overall rating of 8.9 out of 10. Fees are low, and also you can benefit from various account-based currencies.

Here are some good and negative points for XS funding methods found:

XS AdvantageXS Disadvantage
Fast digital depositsMethods and fees might vary in each entity
Multiple account base currencies
Variety of funding methods

Deposit Options

In terms of funding methods, XS offers the following payment methods:

  • Bank Wire,
  • Credit/Debit cards,
  • Skrill,
  • Neteller,
  • Giropay, etc.

XS Minimum Deposit

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

XS Withdrawals

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.

How Withdraw Money from XS Step by Step:

  1. Login to your account
  2. Select Withdraw Funds’ in the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your DashboardXS Review Funding Methods

Trading Platforms

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.

  • XS Platform is ranked good with an overall rating of 8.9 out of 10 compared to over 500 other brokers. We mark it as good since it offers the popular MT4 and MT5 professional trading platforms.
PlatformsXS PlatformsTopTrader PlatformsXGLOBAL Markets Platforms
Own PlatformsYesYesNo
Mobile AppsYesYesYes

Trading Tools

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.

  • Also, XS offers a social trading feature where traders can copy trades from others or share their trading signals with the community. The MT4 and MT5 platforms also support automated trading with the use of Expert Advisors (EAs) and algorithmic trading, making it a suitable option for those who prefer a more hands-off trading approach.

XS Review Trading Platforms

Customer Support

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.

  • Customer Support in XS is ranked good with an overall rating of 8.5 out of 10 based on our testing. We got fast and knowledgeable responses, and also it is easy to reach during the working days and weekends.

See our find and ranking on Customer Service Quality:

24/7 customer supportNone
Live chat, phone support, email
Quick responses
Relevant answers

XS Review Customer Support

XS Education

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.

  • XS Education ranked with an overall rating of 6 out of 10 based on our research. However, the broker does not have a dedicated section on its website for educational and research materials, as well as seminars and webinars. Therefore, for beginners, we recommend seeking educational resources from established and reputable brokers.

XS Review Conclusion

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:

  • Traders from Europe
  • Traders from Australia
  • International trading
  • Traders who prefer the MT4 and MT5 trading platforms
  • CFD and currency trading
  • Advanced traders
  • Institutional trading
  • White Label solution
  • Scalping/Hedging strategies
  • STP/NDD execution
  • Competitive spreads and prices
  • EA/Auto trading
  • Good trading tools
  • Multilingual 24/7 customer support

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