XS
Pros and Cons
Pros
- Regulated by ASIC and CySEC
- Diverse range of trading instruments including forex, CFDs, and cryptocurrencies
- User-friendly trading platforms: MetaTrader 4 and MetaTrader 5
- Multiple account types catering to different trader needs
- Strong customer support available via email, live chat, and phone
Cons
- Not regulated in major jurisdictions like the US
- Limited educational resources for traders
- Some account types incur commissions
- Potential withdrawal fees for certain methods
- High spreads on some trading instruments
Basic Information
User Reviews
XS Overview
XS Ltd is a forex broker based in Mauritius, established to provide traders with accessible financial solutions. Operating for 2 to 5 years, XS has positioned itself as a player in the trading industry, offering a platform that caters to traders of all skill levels. Through its comprehensive offerings and dedication to quality, XS aims to empower individuals in their trading journeys. More information can be found on their official site, which provides insights into services and trading conditions, contributing to their credibility as a broker.
As a multi-asset broker, XS specializes in various trading instruments including forex and CFDs, ensuring a diverse trading experience. The broker’s platform is designed with user-friendly features and advanced technology, facilitating a seamless trading experience. Customer support is available to assist users through multiple channels, enhancing the overall user experience. XS stands out in the market with its commitment to security and regulatory compliance, providing traders with a safe environment to execute their trades confidently. Overall, XS delivers a comprehensive trading experience tailored to meet the needs of its clients.
Is XS Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Australian Securities and Investments Commission (ASIC) | Australia | Segregated Funds, Investor Compensation Scheme |
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | Segregated Funds, Investor Compensation Scheme |
| Financial Services Authority (FSA) | Seychelles | Segregated Funds |
| Financial Sector Conduct Authority (FSCA) | South Africa | Segregated Funds, Investor Compensation Scheme |
| Labuan Financial Services Authority (LFSA) | Malaysia | Segregated Funds |
Is XS Regulated and How Are Client Funds Protected?
XS Ltd operates under a robust regulatory framework, ensuring a secure trading environment for its clients. The broker is regulated by esteemed authorities such as ASIC in Australia and CySEC in Cyprus, both of which enforce strict compliance and operational standards. Additionally, XS is overseen by the FSCA in South Africa and holds licenses from both the FSA in Seychelles and the LFSA in Malaysia.
Client funds are protected through various measures, including the segregation of client accounts from the broker’s operational funds, ensuring that traders’ capital is safeguarded. Furthermore, the broker may offer investor compensation schemes depending on the regulatory body, providing an added layer of security for traders. These regulatory frameworks enhance the trustworthiness and reliability of XS as a trading partner, making it a safe choice for traders seeking a regulated environment.
Trading Products and Services
What trading instruments does XS offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
XS offers a diverse range of trading instruments, catering to various types of traders from beginners to professionals. With products spanning multiple asset categories, including forex, commodities, indices, stocks, and cryptocurrencies, traders can easily find suitable options to match their investment strategies. This variety not only enhances portfolio diversification but also allows traders to leverage different market conditions effectively. By supporting various asset classes, XS empowers its clients with the tools needed to adapt their trading approaches, whether they are looking to capitalize on short-term market movements or engage in long-term investing.
Account Types and Trading Conditions
What Account Types and Fees Does XS Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners | User-friendly interface, low minimum deposit | Suitable for small-capital practice |
| Professional Account | Experienced Traders | Low spreads, high leverage | Requires trading volume qualifications |
| Corporate Account | Corporate Clients | Customized services, multi-user access | Requires corporate documentation |
| Islamic Account | Traders needing Sharia compliance | Swap-free trading options | Available for all trader levels |
| Demo Account | New Traders | Practice trading without risk | No minimum deposit required |
Account Opening Process
To open an account with XS, follow these steps: First, submit your personal information, including your name, contact details, and date of birth. Next, provide employment and financial information to assess your trading background. Identity verification is required, which includes submitting a form of ID and proof of address. After completing these steps, you can enjoy the flexibility of upgrading to a professional account later if your trading needs change.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | 0.8 | $0 | Tight spreads for major pairs |
| CFDs (Stocks, Indices) | 1.5 | $3 per lot | Competitive pricing for CFDs |
| Cryptocurrencies | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
Additional fees may include deposit and withdrawal fees, inactivity fees for dormant accounts, and platform usage fees if applicable. Overnight interest (swap rates) may apply for holding positions overnight, and currency conversion fees might be incurred when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does XS Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, Web | Secure login, one-click trading, technical indicators, market search | Demo accounts, VPS |
| MetaTrader 5 (MT5) | Windows, macOS, Web | Enhanced order types, real-time alerts, economic calendar | Demo accounts, VPS |
| Mobile App | iOS, Android | Secure login, push notifications, symbol lookup | Demo accounts |
The trading platforms offered by XS cater to a wide range of trader preferences. MetaTrader 4 (MT4) is ideal for those seeking a straightforward interface with essential trading tools, while MetaTrader 5 (MT5) provides advanced features for more seasoned traders. The mobile app ensures traders can manage their accounts conveniently on the go, offering secure logins and real-time alerts for market movements. XS emphasizes security with encrypted data transmission and supports efficient order execution across all platforms.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 50, Max 20k/day | USD, EUR, GBP |
| Credit/Debit Card | Instant | No platform fee | Min 50, Max 10k/day | USD, EUR |
| e-Wallet (e.g., Skrill, Neteller) | Instant | 1.5% charge | Min 50, Max 15k/day | USD, EUR, AUD |
| Cryptocurrency | Instant | No platform fee | Min 50, Max 10k/day | BTC, ETH |
Minimum Deposit
XS requires a minimum deposit of $50 to open an account. This amount remains consistent across all payment methods and account types, ensuring accessibility for traders at various levels.
How to Withdraw
To withdraw funds from your XS account, follow these steps: 1. Log into your trading account. 2. Navigate to the ‘Withdrawal’ section. 3. Select your preferred withdrawal method. 4. Enter the amount you wish to withdraw and confirm. 5. Complete any required verification steps if prompted. 6. Submit your request and wait for processing.
Customer Support
XS Customer Support Overview
Support Channels
XS offers multiple contact methods to ensure that customers receive timely assistance. You can reach the support team via:
- Email: Send your inquiries to the designated support email for a prompt response.
- Live Chat: Utilize the live chat feature on the XS website for immediate assistance, available at the bottom right corner of the page.
- Telephone: Customers can contact support directly through telephone lines for immediate help.
- Social Media: XS may engage customers through various social media platforms to provide support and updates.
Service Availability
XS provides customer support from Monday to Friday, ensuring that assistance is available during business hours. The support team is dedicated to providing help in multiple languages, enhancing accessibility for a diverse clientele.
Additional Resources
To further support traders, XS offers valuable resources such as educational materials, market analysis, and trading signals. These resources help users stay informed and enhance their trading strategies.
Frequently Asked Questions
XS Ltd ensures the security of client funds by operating under a robust regulatory framework, including oversight from authorities such as ASIC and CySEC. Client funds are held in segregated accounts separate from the broker’s operational funds, providing an added layer of protection. Additionally, investor compensation schemes may be available depending on the regulatory authority, further enhancing fund security.
To open an account with XS, you need to submit personal information including your name, contact details, and date of birth. Further, you must provide proof of identity and proof of address to comply with regulatory requirements. Identity verification typically includes submitting a form of ID and a recent utility bill or bank statement confirming your address.
XS offers several account types catering to different trader needs: Retail Accounts for beginners with user-friendly features, Professional Accounts for experienced traders with low spreads and high leverage, Corporate Accounts for business clients with customized services, Islamic Accounts for those needing Sharia compliance, and Demo Accounts for risk-free practice. Each account type has its own essential characteristics to accommodate various trading strategies.
XS provides multiple customer support channels to assist clients, including email, live chat on the website, telephone support, and social media engagement. Support is available from Monday to Friday, ensuring that help is accessible during business hours. The support team is also dedicated to providing services in multiple languages, enhancing accessibility for a diverse clientele.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.