Summary

XS.com is a relatively new CFD broker that was founded in 2010. The company is registered in Australia, Seychelles, and Cyprus. It is regulated by CySEC, ASIC, and the FSA.

This broker offers a wide range of trading instruments, including forex, stocks, commodities, indices, cryptocurrencies, and futures. It also offers relatively low spreads and allows clients to enjoy margin trading with leverage up to 1:500 on some assets. Opting for XS.com means that you can trade on one of the popular MT4 brokers, and the MT5 trading platforms. However, they do not have an exclusive trading app. 

Our XS.com review highlights how you can start trading with the broker. It explains its fees, account opening procedures and verification steps, customer support options, payment methods, online users’ remarks, and many more.  

XS.com Regulations

XS.com is a well-regulated broker. It is licensed to operate across several jurisdictions by several finance regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Services Authority (FSA), and the Australian Securities and Investment Commission (ASIC). This section of our XS.com review will provide you with all you need to know about this broker’s subsidiaries – their address, regulatory information, and licensing information. 

XS Ltd.: This entity is regulated by the FSA and has its headquarters at F20, 1st floor, Eden Plaza, Eden Island, Victoria, Seychelles. It provides its services to eligible clients via www.xs.com.

• Company Registration Number – 8428765-1
• FSA License Number – SD089

XS Prime Ltd.: This subsidiary of the broker is located at  Grosvenor Place’ Level 29, 225 George Street, Sydney, NSW 2000, Australia, and is licensed to operate by ASIC. Its official website is www.xsprime.com. 

• Company Registration Number – 141 194 934
• ASIC License Number – 374409

XS Markets Ltd.: XS Markets Ltd is regulated by CySEC. Its office address is at Agiou Andreou, 365, Efstathiou Court, 2nd Floor, Office 201, 3035, Limassol, Cyprus. It also has a fintech subsidiary, XS Fintech Ltd, and its official website is www.xsmarkets.com.

• Company Registration Number – HE386563
• CySEC license number – 412/22

XS.com Supported Countries

XS.com is a global broker and offers its services to clients in different continents. It is available to users in the United Kingdom, EU member countries, and most countries in Africa and Asia. However, individuals in the United States, Iran, and North Korea cannot register an account with the broker or any of its subsidiary entities.

XS.com Available Assets

XS.com has an extensive CFD listing comprising 80+ forex pairs, 30+ cryptocurrencies, 20+ commodities, including metals and energies, 15+ indices, 1000+ shares, and 27+ futures. Here in our broker review, we delve into more detail about each of these assets. We also provide you with the maximum leverage on all the above-listed instruments and outline all the currency pairs offered by XS.com. 

XS.com Cryptocurrencies

The broker offers 30+ cryptocurrency crosses on its platform. It provides customers with the opportunity to trade popular coins such as Cardano, Bitcoin, Dash, Dogecoin, and Ethereum. The maximum leverage to trade cryptocurrencies on this broker is 1:20.

XS.com Shares

There are 1,000+ CFD shares listed by XS.com from markets in the US, UK, Hong Kong, Germany, France, and several other regions. Clients can hold long or short positions on this asset and enjoy maximum leverage of 1:50.

XS.com Commodities

This broker also provides 20+ commodities to its clients. Its asset listing includes energies, metals, and other soft commodities such as wheat, coffee, sugar, and soybean. Leverage on commodities varies depending on the specific asset. For soft commodities and energies, the maximum leverage is 1:50 and 1:100, respectively. However, Gold, Silver, and Palladium have a leverage up to 1:200, 1:100, and 1:50, respectively. 

XS.com Indices

In addition to the instruments mentioned above, this broker also lists 15+ indices. It offers major indices such as US500, JP225, and US30 with a maximum leverage of 1:100. It also provides minor indices such as ES35 and Hong Kong 50 with a leverage up to 1:50. 

XS.com Forex

XS.com allows clients to trade up to 80+ currency pairs on its platforms. These pairs include major, minor, and exotic pairs. Spreads on forex assets with this broker are as low as 0 pips, and the leverage for most currency pairs is up to 1:500. 

However, pairs involving CHF, DKK, and CZK will have a leverage up to 1:200. Similarly, clients seeking to trade crosses with CNH, TRY, BRL, and MXN can only access maximum leverage of 1:100. Finally, RUB crosses have a limit of up to 1:20. 

XS.com Futures

Finally, XS.com offers 27+ Futures including well-known instruments such as Corn Future, Copper Future, Euro Bund, and US Tech 100 Future. 

Screenshot07

XS.com Spread

Spreads on XS.com depend on the client’s chosen account type. The broker offers eight account options – Standard, Micro, Cent, Elite, Professional, VIP, Plus, and Classic. The Elite account has a spread from 0.1 pips, while the Standard, Classic, and Plus account types have spreads from 1.0 pips, 1.5 pips, and 2.0 pips, respectively. 

XS.com Leverage

Leverage with this broker varies based on the asset being traded and the client’s location. Most currency pairs have a maximum leverage of 1:500. However, CHF, PKK, and CZK crosses have a maximum leverage of 1:200. CNH, TRY, BRL, and MXN crosses have a limit of 1:200, while RUB crosses are pegged at 1:20.

Major and minor indices have a leverage up to 1:100 and 1:50 respectively. The maximum leverage on commodities and shares is 1:50. The leverage limit for trades involving metals depends on the specific instrument. Gold, Silver, and Platinum have leverage limits of 1:200, 1:100, and 1:50, respectively. Cryptocurrencies have a maximum leverage of 1:20.

Finally, clients with XS Markets Ltd, the European subsidiary of this broker, cannot access leverage above 1:30 on any asset due to regulatory restrictions. 

Below, we list all the forex pairs and commodities provided by XS.com

XS.com Fees & Commissions

In this section of our XS.com review, we take a look at the costs incurred by clients of this broker. We examine their trading and non-trading costs and highlight any hidden fees.

XS.com Trading Fees

Trading fees with this broker include spreads and commissions. Below, we explain both these charges in greater detail.

XS.com Spreads

XS.com spreads vary depending on the specific asset and the client’s account type. Customers who have a cent, standard, or micro account will enjoy spreads from 1 pips. Elite and VIP accounts will be able to trade with a minimum spread of 0.1 pips. However, Pro, Plus, and Classic accounts will have access to spreads from 0.6 pips, 2 pips, and 1.5 pips, respectively. 

XS.com Commission

Like spreads, commissions with this broker vary based on an individual’s account type. While cent, micro, standard, plus, pro, and classic accounts are not charged a commission, clients who operate elite accounts will be charged a commission of $3 per side.

XS.com Non-Trading Fees

XS.com does not charge a deposit or withdrawal fee. However, they do charge a swap fee and currency conversion fee.

XS.com Rollover Fees

This fee is incurred by traders who hold a position for longer than 24 hours. Clients of this broker are charged for overnight positions on all available instruments. Muslim clients, however, can sign up for a swap-free account to be exempted from these costs. 

XS.com Currency Conversion Fee

XS.com charges its customers a small fee for any transactions that require a conversion from the user’s account base currency. 

XS.com Trading Platforms

Individuals who have an account with this broker can trade with MT4 and MT5. Unfortunately, the broker does not have a proprietary web or mobile app. As part of our XS.com review, we will take a look at the broker’s trading platforms. Here, we will outline some of the features of these applications and provide you with a detailed guide on how you can open a new account and begin trading.  

XS.com Desktop Trading Platform

Trading on desktop with XS.com is possible with the MT5 app. This platform allows clients access to all the broker’s instruments as well as unique charting tools and a superior user interface. Below, we discuss some of the properties of this app and explain how to open an account with XS.com on desktop. 

Design

The XS.com MT5 app presents a familiar design. Clients can view multiple charts on a single screen and access a wide range of functionalities with ease. 

User Interface

The user interface of the app is easy-to-understand. Newbie traders and advanced investors who have been trading with the MT5 platform will be able to navigate through the XS.com MT5 platform with little or no guidance. 

Indicators

There are several indicators available for traders to use for their analysis, including various trendlines, oscillators, and volumes. 

How to Open an Account on XS.com Desktop Trading Platform

1. On the broker’s homepage, select Join XS Now.
2. Fill out all the requested registration details, including your name, phone number, email, country, preferred language, and password.
3. Read and agree with the Client Service Agreement and other policy documents.
4. Enter the confirmation pin sent to the email address you provided.
5. Next, you will be redirected to the Trader’s Menu dashboard, where you will provide your other personal information, including Date of Birth, Gender, and Country of Tax Residence.
6. Provide information on your trading experience and financial details.
7. Upload a valid ID and proof of address.
8. Select Open Live Account, and indicate your preferred platform and account type to receive your account login details.
9. Deposit funds and start trading.

XS.com Mobile Trading App

XS.com does not have a personalized mobile app available on the Google Play Store or Apple App Store. Users will have to search for and download the MT4 or MT5 app to begin their trading. Here, we look at the features of this platform and how to create a new account on XS.com.

User Interface

The MT5 app has a beginner-friendly user interface. Users will find it easy to navigate through the various tabs and features available on the platform.

Design

The design of the mobile trading platform is simple and intuitive. There are five tabs – Quotes, Chart, Trade, History, and Settings. 

Search

With the search tab, clients can quickly find any of the available assets provided by XS.com. This feature makes trading faster and easier for users of this broker.

Indicators

Clients will have access to a large number of charting tools and indicators, including popular options such as Moving Averages, MACD, Force Index, and Stochastic Oscillators. 

How to Open an Account on XS.com Mobile App

1. Go to www.xs.com and select Join XS Now on the homepage.
2. Provide all the registration information requested.
3. The broker will send a confirmation pin to the email you providedEnter this pin to continue your registration.
4. Upon redirection to the Trader’s Menu, enter your date of birth and nationality.
5. You will be expected to answer some questions to evaluate your trading experience and financial status.
6. Provide a valid government-issued identification document and proof of address to enable XS.com to verify your profile.
7. Select Open Live Account and choose MT5 and your preferred account type to receive your login details for your MT5 account.
8. Fund your account by selecting Deposit Funds and choosing any deposit option.
9. Go to your device’s app store and download MetaTrader 5.
10. Search for XSFintech on MT5 and login with your newly created trading account information.

XS.com Account Types

XS.com offers a demo account. They also provide three preferred accounts, three professional accounts, and two partner special accounts. Each of these options has unique benefits and features, which we will look into in this section of our review.

XS.com Demo Account

Demo accounts enable customers to try out the broker’s trading platforms and various trading strategies without any risk of losing real money. Users can open a demo account in just a few steps and have access to a virtual balance between $1,000 and $100,000 to trade the entire array of assets listed by XS.com.

XS.com Standard Account

The standard account is a commission-free account. However, traders are expected to pay spreads from 1.0 pips on available assets. It allows clients to trade all the listed assets on XS.com and can be used on MT4 and MT5.

XS.com Micro and Cent Account

The micro and cent accounts also charge a spread of 1.0 pips on available assets. However, they can only be used on MT5. Traders who open any of these types of accounts with the broker will only be able to trade currencies and metals.

XS.com Elite Account

Elite account owners will be required to pay a commission of $3 per side. They are also required to pay a minimum spread of 0.1 pips on the broker’s listed assets. Like the standard account, this account can trade every asset listed by XS.com.

XS.com Professional Account

Professional accounts do not demand a commission. Instead, clients will be charged a minimum spread of 0.6 pips for their trades. This account type is available with MT4 and MT5.

XS.com VIP Account

The VIP account is similar to the elite account. It offers the same spreads and provides access to the same number of assets. However, the commission for this account type is not yet fixed.

XS.com Plus Account

The Plus Account is reserved for partners. It is a commission-free option and users are required to pay for spreads from 2.0 pips. Unfortunately, this account type can only trade currencies and metals.

XS.com Classic Account

The classic account is the second option reserved for partners of XS.com. The minimum spread on this account type is 1.5 pips. Also, unlike the Plus Account, traders will be able to trade all the available assets provided by the broker. 

XS.com Payment Methods

This section of our review discusses the available methods for deposits and withdrawals on XS.com. Here, we also outline the processing time for each of these options and any minimum deposit or withdrawal amounts. 

XS.com Deposit Methods

This broker allows clients to add funds via credit cards, debit cards, Skrill, Neteller, and bank transfers. The minimum deposit amount varies depending on the specific method used. Skrill and Neteller have a $15 minimum deposit. However, the minimum deposit for credit cards, debit cards and bank transfers is $5 and $200, respectively. 

Apart from wire transfers which allow unlimited deposits, other funding options also have a maximum deposit limit. For credit cards and debit cards, this amount is set at $25,000, while Skrill and Neteller have a maximum of $15,000 or its equivalent. Finally, there are no deposit fees.

Below, we outline all the funding options provided by XS.com and their processing times. 

XS.com Withdrawal Methods

Customers of this broker can also withdraw their funds via credit card, debit card, wire transfers, Neteller, and Skrill. The processing time for withdrawals also varies based on the method used. Withdrawals involving wire transfers take between 1 – 7 working days and Skrill may take up to 24 hours, while credit cards, debit cards, and Neteller transactions are processed instantly. 

The minimum withdrawal amount also varies based on the method used. Bank transfer has a $250 minimum withdrawal limit, while cards, skrill and neteller have a minimum withdrawal limit of $5, $50 and $15 respectively. Furthermore, there is no maximum withdrawal amount for bank transfers. However, credit cards and debit cards have a limit of $25,000. Furthermore, Neteller and Skrill have a maximum withdrawal limit of $2,500 and $15,000 respectively. 

How to Make a Withdrawal on XS.com

1. Log into your trader’s portal. 
2. Click on ‘Funds’ and select ‘Withdraw Funds’.
3. Select your preferred payment service provider and enter your transfer details to receive your funds into your account. 

XS.com Education

Unfortunately, unlike most brokers, XS.com does not offer an education section on its website. Beginners and advanced traders who wish to improve their trading knowledge will not have access to podcasts, webinars, e-books, or blog articles on this broker. 

XS.com Customer Support

Customers who wish to reach this broker to file a complaint or request assistance can do so via one of several options available. XS.com offers a live chat feature that allows clients to interact with a customer service agent directly and receive prompt answers. Users can also send an email to support@xs.com or fill out a call-back request form on the Contact Us page on the broker’s website. In addition to this, they also have an FAQ section where answers have been provided to some of the most common questions that most users of this broker face. 

Finally, traders who make use of any of XS.com’s trading platforms can send them a direct message on Twitter, Instagram, Facebook, or Linkedin. 

XS.com Reviews

As we review this broker’s products and services, it’s essential to learn what others are saying about them on various discussion forums and websites. Below, we summarize users’ comments about XS.com on Reddit, Quora, TrustPilot, and ForexPeaceArmy. We highlight the most recurring positives as well as any complaints that customers have observed. 

What Reddit Users Say About XS.com

Unfortunately, despite using different search terms, we could not find any relevant posts related to this broker or any of its subsidiaries on Reddit. 

What Quora Users Say About XS.com

Just like Reddit, we also attempted various queries on Quora. However, we were unable to obtain any posts or comments that could provide any information about client sentiment concerning XS.com.

TrustPilot Users Reviews About XS.com

XS.com has an excellent rating of 4.3 out of 5 on the TrustPilot website, cementing its place as one of the best online trading brokers. Although, it is important to note that there are currently only 54 reviews of this broker. Most comments about this broker are positive.

A large percentage of users praised the broker for its simplicity. Most of them also cited XS.com’s extensive assets listing and relatively affordable fees as a significant attraction. Finally, others had praise for the variety of account types available. 

ForexPeaceArmy Users Reviews About XS.com

This broker is currently unrated on ForexPeaceArmy as there have been no comments/remarks by users. 

Is XS.com safe?

XS.com can be considered a trustworthy broker. It is authorized to operate across several regions by various regulatory bodies, including CySEC, ASIC, and the FSA. Furthermore, it has an AML policy that ensures the safety of its customer’s funds. It also keeps their user’s funds in segregated accounts to guarantee that these monies are not vulnerable in the event of bankruptcy. 

XS.com Products and Services

Although XS.com provides clients with access to CFD instruments, it also has an extensive list of additional products and services. In this segment of our review, we discuss some of these offerings and highlight their unique benefits.

Introducing Brokers and Digital Affiliates

The Introducing Broker’s (IB) program offers individuals the opportunity to earn a commission by referring clients to the XS.com trading platform. Partners can take advantage of their online following to direct new users to the broker’s website while enjoying a fee for each successful referral. The IB program offers support via advanced trading tools and marketing materials. You can be a part of this initiative by sending an email to partners@xs.com.

XS.com Education Experts Program

XS.com is willing to work with individuals who have experience in creating educational content at various levels. The Education Experts Program seeks to bring together skilled educators to develop a well-researched curriculum that can help traders and clients to develop a better understanding of the financial markets.

XS.com Asset Managers Program

Individuals with prior experience in money and asset management or an extensive history of profitable financial markets trading can take part in the Asset Managers Program offered by this broker. These fund managers will help XS.com clients to trade and manage their portfolios.

XS.com White Labels

XS.com provides a White Label solution for organizations seeking to develop a trading system. Clients looking to set up their own brokerage firm can take advantage of this offer and enjoy a fully branded trading platform, FIX API integration, and 24/7 technical support.

XS.com Consultancy

The broker offers consultation to organizations who wish to build a finance and investment-based product or service. It provides assistance with implementation and helps these corporations to achieve their targets with ease. 

Bottom Line

Our XS.com review shows the broker to be a great option for individuals who are looking for a low-cost platform for trading CFDs. Unfortunately, it does not offer real stocks, ETFs, bonds, or investment trusts. However, it offers cryptocurrency CFDs. 

A major disadvantage of this broker is that it does not offer sufficient educational resources. Unlike most of its competitors, it does not provide a trading glossary, blogs, or webinars.

Spreads on XS.com can be as low as 0.1 pips for clients who open an Elite account. Furthermore, clients may or may not be charged a commission, depending on their account type. Customers will be able to place their orders via the MT4 or MT5 platform.