With a growing number of online brokers providing both institutional and retail investors with easy access to financial markets, trading has become an increasingly popular endeavor among individuals from all walks of life, many of which might not have dared to take the leap previously. These platforms not only bring a wide array of tradeable assets to users’ fingertips, diversifying their investment options, but also provide a multitude of features that make the trading process simpler, more affordable, and enjoyable, and XS.com is frequently cited as a prime example in this respect.
Unfortunately, traders and investors were not the only ones to take advantage of the emergence and popularity of online brokerage services. Hackers and scammers also spotted the trend and saw it as an opportunity to exploit vulnerabilities and expand their malicious operations by targeting unsuspecting investors. With so many cons and unethical activities taking place in the online trading space, people have grown fearful of falling victim to fraudsters and are naturally reluctant to entrust their funds to a broker. Even when they come across a platform with a seemingly strong reputation like XS, they still have their doubts and might not be fully convinced of its trustworthiness.
These concerns make perfect sense in the current context, so if you want to find out if XS is indeed a reliable broker that you can use in full confidence, like so many say it is, and not a scam or a platform that might leave you exposed to all sorts of risks, this comprehensive review is going to help you get to the bottom of it.
XS story
The XS Group has a long track record in the trading industry, being formed in 2010 in Australia, as a liquidity provider. Fueled by a passion for financial markets and a commitment to delivering quality services, the company experienced a swift growth, expanding its operations and service range. As a multi-asset broker, XS currently offers excellent CDF options on a wide selection of underlying assets, including currencies, shares, indices, metals, crypto, commodities, futures, and energy.
The broker incorporates several entities operating under the XS and XS.com trade names and has offices in multiple locations to ensure a global reach. By catering to the needs of all types of users, be it traders, institutional investors, or brokers, from all parts of the world and being dedicated to helping them thrive in the fast-evolving world of trading, XS has managed to establish itself as an international trading gateway and build a reputation as a leader in the FinTech arena.
The combination of advanced tech solutions, deep institutional liquidity, a broad set of trading tools, and a team of highly motivated financial professionals with years of experience in the industry ensures an unparalleled trading experience on the XS platform for all clients.
XS compliance with industry regulations
Regulatory compliance is a vital aspect of a trustworthy trading platform, so this should be the main focus point when selecting a broker. Compliance with industry regulations guarantees trading providers are committed to employing the best practices and that their activities are conducted in a fair and lawful manner, in full compliance with the standards and legal requirements established by governing bodies in the financial sector.
XS ensures customers of the platform’s legitimacy by offering detailed information about the specific licenses and registrations held by all of its five entities. The broker is authorized by reputable financial authorities in five jurisdictions. XS Ltd is incorporated under the laws of Seychelles and is regulated by the Financial Services Authority of Seychelles (FSA). XS Prime Ltd falls under Australian jurisdiction, being authorized by the Australian Securities and Investments Commission (ASIC). XS Markets Ltd is licensed in Cyprus and is monitored by the Cyprus Securities and Exchange Commission (CySEC), while XS Finance Ltd is regulated by the Labuan Financial Services Authority (LFSA) in Malaysia. Finally, XS ZA (Pty) Ltd is accredited by the South African Financial Sector Conduct Authority (FSCA).
XS security
Security is just as important as legality given that the digital space and online trading in particular is riddled with all sorts of cybersecurity risks. A solid security infrastructure is key to deterring potential cyberattacks and protecting clients’ assets and personal and financial data, thus ensuring a smooth and trouble-free trading experience.
In XS’ case, traders benefit from enhanced security levels thanks to the platform’s sturdy security system that encompasses top-tier data encryption protocols, innovative digital controls, and strict password requirements. XS also conducts regular external audits to identify vulnerabilities, strengthen protection measures and create a safe trading environment for its clients.
On top of all that, the Civil Liability Insurance Program underwritten by Lloyd’s of London guarantees extra protection by offering coverage for losses above USD 10,000 and up to USD 5,000,000 against claims resulting from oversight, fraud, negligence and other risks.
XS notable features
These days, there’s no shortage of online brokers promising users excellent trading conditions and outstanding services. However, XS is one of the very few that actually deliver on this promise and differentiate themselves from the rest by providing a series of standout features that pave the path to a superior trading experience:
- Advanced tech – the broker employs two cutting-edge trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), with user-friendly interfaces, simple navigation and customizable analytics tools for faster and more efficient trades.
- Account types – clients can gain access to a wide array of financial assets by selecting one of the various accounts offered by the platform, each of them catering to specific trading needs and preferences
- Dynamic leverage – this innovative feature adjusts leverage based on the volumes traded by clients and market conditions, ensuring flexibility and easy risk mitigation
- Payment options – users can choose from a variety of payment options, including bank transfers, Visa & MasterCard, Skrill, and Neteller, to deposit and withdraw their funds
- Fund segregation – clients’ funds are kept in distinct accounts from the platform’s funds to offer enhanced protection
- Multilingual customer service – a team of skilled customer support specialists are ready to offer round-the-clock multilingual assistance for clients in countries
Bottom line
After this in-depth examination of the broker’s features, characteristics, and trading conditions, we can safely conclude that XS is, without a hint of a doubt, a legitimate and dependable trading platform that can serve as a reliable partner in conducting safe and successful trades.
