In today’s highly digitalized world, trading opportunities abound for those seeking to create multiple sources of income and build wealth. Whether you want to buy or sell currencies, stocks, bonds, commodities, metals, or any other tradable asset, now you can access them and start your trading journey with only a smartphone and a good internet connection.
However, easy access doesn’t guarantee the success of your trading endeavors. This very much depends on the knowledge and skills you have, the strategies you employ, and, not least, the trading platform you choose. This last bit is an aspect that many novice traders ignore, much to their disadvantage. Online brokers and trading platforms serve as a gateway to the different financial markets that might interest you, and their features and functionalities can have a huge impact on your trading experience and outcomes.
Since you can never be too cautious when it comes to trading, doing thorough research on the trading platforms you intend to use is a must, especially when you consider the ever-growing number of malicious entities that try to take advantage of unsuspecting investors and the increasingly sophisticated trading scams that take place every day.
So, if you’ve come across XS.com and you’re wondering whether you should trust the broker or not, this in-depth review is going to provide you with all the key insights you require to make an informed decision.
Brief description
XS, also known as XS.com, is part of the XS Group, one of the most reputable and long-lasting names in the trading industry, which was established in 2010 in Australia as a liquidity provider for CFD trading. Over time, the broker expanded its offering and services, establishing itself as a leader in the FinTech and online trading space.
Today, XS ensures access to a wide range of financial products, including currency pairs and CFDs on assets such as indices, stocks, metals, futures, commodities, energy, and crypto. This gives institutional and retail investors from all over the globe the opportunity to enter different markets and diversify their portfolios with ease by trading on the platform.
XS creates a secure and attractive trading environment for traders of all levels as it offers competitive spreads and no minimum deposit requirements or fees on most of its accounts. The brokerage firm also supports two highly reliable trading platforms underpinned by advanced technology and puts at clients’ disposal a variety of innovative trading tools, such as customizable charts and technical indicators, meant to help them choose smartly, manage their assets effectively, and ensure a smooth trading experience.
Furthermore, XS.com invests heavily in security to maintain a robust and dependable infrastructure, provides multiple despot and withdrawal methods, and offers 24/7 multilingual customer support.
Licensing and registration
In light of the increasing number of scams carried out via fraudulent trading platforms, the most crucial thing to look for when evaluating brokerages is their legality. One should only ever trade with brokers that hold valid certifications and are fully regulated by relevant authorities. Active licensing ensures that trading providers have undergone thorough checks and can operate lawfully, adhering to the applicable standards and regulations in the field.
XS is a multi-licensed financial services provider which means all the entities that make up the XS Group hold licenses in several jurisdictions and are regulated by reputable financial authorities in each of them. On their official website, www.xs.com, the broker provides a full list of all the regulatory licenses they have and the agencies that supervise their operations. These include:
- Financial Services Authority of Seychelles (FSA), license number SD089.
- Australian Securities and Investments Commission (ASIC), license number 374409.
- Cyprus Securities and Exchange Commission (CySEC), license number 412/22.
- Labuan Financial Services Authority (LFSA) in Malaysia, license number MB/21/0081.
- South African Financial Sector Conduct Authority (FSCA), license number 53199.
Security level
The online trading landscape is appealing not only to traders and investors from all around the world but also to cybercriminals who are becoming increasingly more adept at exploiting vulnerabilities in platforms’ security systems to gain access to users’ data and funds. This requires online brokers to prioritize the safety of their platforms and emphasizes the need to search for trading providers that have strong security measures in place.
XS.com goes to great lengths to provide a secure trading environment for its clients across all its platforms by implementing advanced security protocols and continuously investing in this area. The broker uses top-tier data encryption and stringent digital controls such as complex password requirements and two-factor authentication to guarantee hazard-free online operations and safeguard traders’ personal information and financial assets.
Apart from upholding a state-of-the-art security system, XS adopts additional safety measures such as the segregation of clients’ funds in separate accounts from the company’s and comprehensive insurance coverage through the Civil Liability Insurance Program for losses over USD 10,000 and up to USD 5,000,000.
The features that shape the trading experience on XS
XS.com strives to anticipate clients’ needs and provide them with the solutions and services they might require to unlock trading opportunities and achieve their financial objectives. To that end, the broker provides various account types that suit different needs and preferences.
Users benefit from a free demo account or can choose from one of the six live accounts available, each of them offering different features and benefits. For example, the Cent and Micro accounts are better suited for traders who want to keep risks to a minimum, while professional account types like Elite and Pro are better suited for versed traders, offering low spreads, competitive commissions, and advanced trading instruments.
On top of that, the platform’s dynamic leverage allows all users, regardless of the account type they choose, to customize trading conditions and enjoy a personalized trading experience.
The provider also supports multiple withdrawal methods via bank transfer, Visa & MasterCard, Skrill, and Neteller and ensures transparent pricing with no hidden fees to worry about.
It takes just three simple steps to create an account and start trading on one of the two powerful platforms offered by XS – MetaTrader 4 (MT4) and MetaTrader 5 (MT5) – both of which boast user-friendly interfaces, a host of useful trading tools and smooth navigation.
All the data we have examined indicates that XS is indeed a reliable and legitimate trading provider that you can trust to deliver great services and support your trading endeavors.
