XS.com Review: Is XS safe or a scam broker?

As a leading broker in the FinTech industry, XS.com has demonstrated its commitment to global customers by continually evolving at a rapid pace. The XS Group has established itself globally by obtaining online trading licenses across various jurisdictions, while also enhancing its products and services for institutional investors, brokers, and traders.

The mission of XS began and continued on the pillars of empowerment, offering users the tools and knowledge to navigate a dynamic trading world. Since 2010, teams of experts have shared their experiences in trading to help customers better understand how market analysis and risk management can benefit them.

The core values at XS helped build one of the most popular and reliable trading platforms among the competition, so let’s break down its features, products, and services.

Security and compliance are the primary factors that customers look for when using a trading platform. Although these features are imperative, many other platforms omit them, which is why XS.com gained people’s trust.

Starting with regulations, the trading platform covers a multitude of entities that allow it to operate across the world:

• XS Ltd works under the Financial Services Authority (FSA) according to the law of Seychelles;

• XS Prime Ltd is regulated by the Australian Securities and Investments Commission (ASIC);

• XS Markets Ltd is authorized by the Cyprus Securities and Exchange Commission (CySEC);

• XS Finance Ltd is registered under the Financial Services Authority of Labuan (LFSA);

• XS ZA (Pty) Ltd is regulated under the Financial Sector Conduct Authority (FSCA) in South Africa;

When it comes to safety, XS has taken all precautionary measures to secure customers’ funds in case of omission, fraud, or negligence. The company’s insurance can offer coverage between $10,000 and up to $5,000,000, with no direct cost to clients. The Civil Liability Insurance Program is supported by Lloyd’s of London.

The high security standards at XS also include the separation of funds between customers and the company. This ensures greater transparency than other providers, since customers will know where their money is.

Trading with XS opens the opportunity to try different markets and gain exposure to new assets. The CFDs (contracts for differences) available on the platform offer leverage, flexibility, and the opportunity to do fractional trading across eight markets:

• Shares from international stock exchanges like the US, EU, UK, and HK;

• Indices like Dow Jones Industrial Average (US30), or the EURO STOXX 50 (EU50);

• Metals like gold, silver, platinum, and palladium;

• Commodities, including cocoa, coffee, corn, or sugar;

• Forex pairs or Minors, Majors, and Exotics currencies;

• Energy commodities, such as Brent Crude Oil (UKOIL), and WTI Crude Oil (USOIL);

• OTC Futures, like crude oil, natural gas, and gold;

• Cryptocurrencies like Bitcoin, Ethereum, and Litecoin;

Trading on these markets is convenient through two different platforms, each with features suitable for all types of traders. MT4 and MT5 are available on the web, as well as on apps for Windows and Mac, and on the Play Store and App Store for smartphones.

MetaTrader 4 features an intuitive interface with customizable layouts and one-click trading capabilities. It enables users to utilize automated trading options with Expert Advisors (EAs) and obtain real-time market quotes. On the other hand, MetaTrader 5 comes with premium trading conditions and unique features, such as the Depth of Market (DOM). It has more advanced charting tools and supports hedging capabilities for flexible risk management.

Another reason for XS’s success is the suite of accounts, each with various benefits for users who are just starting to trade, as well as for professionals. For instance, the Preferred block offers:

• The Standard account with an average spread of 1.1 and no commissions;

• The Cent account available on MT5 for currencies and metals;

• The Micro account with no minimum deposit and more instruments;

The Professional suite includes the following:

• The Pro account has low spreads without commissions;

• Elite account has an average spread of 0.1 and a minimum deposit of $3 per side;

• The VIP account comes with a minimum deposit of $100,000, commissions, and a 0.1 average spread;

Finally, the block for Partners offers:

• The Classic account with an average spread of 1.6 and no commissions;

• The Extra account with a 2.1 average spread and no minimum deposit;

• The Plus account with different commissions per side and 0.1 average spread;

For all these account types, customers and partners benefit from a diverse range of funding and deposit methods, including bank transfers, Visa & MasterCard, as well as Skrill and Neteller. Each option has different minimum and maximum amounts that customers should be aware of. The processing time for deposits is instant for almost all options, while withdrawals might take even a few business days. The accepted currencies are EUR, USD, and GBP.

Besides helping clients with various tools and knowledge, XS also offers special features to reward loyal customers and boost their trading spirits. For example, the VIP program features a comprehensive and thorough system that enables customers to earn exclusive rewards and privileges by reaching specific tiers.

For example, a three-star membership requires $45 million in trading volume per quarter, while a seven-star membership can be achieved by reaching $750 million in trading volume per quarter. Of course, as traders advance to a new level, they benefit from additional features, such as exclusive educational materials, enhanced trading analytics, and even a yearly trip.

Another special and rewarding category involves the Trading Miles, which work on a similar principle. Based on their trading volumes, users can start from being a basic Trader to a Top Trader. Every trade earns them more miles (loyalty points) that they can withdraw for cash or a gift. However, not all account users can get into the program.

Finally, XS helps boost the appetite for trading through its demo contests. They enable traders to compete in free demo trading contests and win cash prizes based on their skills. XS organizes contests globally, so participants must verify their eligibility and adhere to the contest conditions.

One of the biggest benefits XS provides is access to knowledge and resources that enable people and institutional investors to enhance their strategies. For instance, XS approached AI tools and developed the AI Insights feature, which utilizes smart algorithms to analyze traders’ actions and patterns. As the AI reveals data-driven insights into mistakes and potential opportunities, users can adjust their strategies and make more informed, less emotional investments.

The feature can also provide tailored strategy reports, automate the analysis of trade entry and exit points, and learn and adapt to each person’s trading style over time. XS AI is a suitable feature for individuals who struggle with setting stop-loss levels and taking calculated risks. However, it can also help beginners whose emotional patterns hinder their ability to trade based on informed decisions, which can occur due to FOMO (fear of missing out). Therefore, the AI can highlight hidden growth opportunities and detect costly mistakes that novice traders are prone to.

Another useful tool XS provides on its website is the economic calendar. Users can check it out and stay informed about financial events or data releases that may impact the market and affect their investments. The economic calendar includes key indicators such as interest rates, employment data, and GDP figures, which are crucial for trading. Users can filter the data for the entire world or the top 20 economies that have the greatest impact on financial assets.

The trading calculators for converting currencies are also helpful, especially for those who trade in Exotic currencies and are not well familiarized with their values. This, in addition to the glossary, can shape a trader’s knowledge and support their growth, enabling them to make more informed decisions in the future. By understanding the most important financial terms and having an idea of how currencies relate to each other, learning about strategies becomes less intimidating.

XS.com is one of the most reputable online brokers in the ecosystem. It offers personalized account types, exposure to a myriad of markets, and adapts to the market changes by adding new technologies, such as artificial intelligence. The XS Group has also achieved its legal considerations across worldwide jurisdictions, making it one of the safest and most responsible platforms for trading. Additionally, XS rewards its most loyal customers through a special membership tier that offers exclusive benefits.