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XS group includes 3 related companies.
XS AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
XS CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
XS SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Unfortunately, AU company also has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, SEY company accepts European and Australian traders, so one can open a trading account there.
XS group accepts clients from all over the world, excluding USA, Iran, North Korea and some other OFAC sanctioned countries.
Forex broker offers the following underlying assets for trading.
| 80+ Currency Pairs | Based on major and minor world currencies. |
| 35 Crypto Pairs | Based on Bitcoin, Ethereum and various other coins and tokens. |
| 16 Indice CFDs | Based on baskets of different blue-chip stocks, Volatility Index and US Dollar Index. |
| 10 Metal CFDs | Based on Gold, Silver, Platinum, Palladium, Aluminum, Copper. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 7 Soft CFDs | Based on Corn, Cotton, Cocoa, Coffee, Sugar, Soybean, Wheat. |
| 3 Bond CFDs | Based on US 10yr T-Note, UK Long Gilt, Euro Bund. |
| 1000+ Stock CFDs | Based on shares of US, UK and EU companies. |
XS is a forex broker registered and regulated in multiple jurisdictions around the world, including in Australia and the EU. The broker offers trading across a very wide range of assets, and is available to traders from almost all countries.
Like all brokers regulated in the EU and Australia, XS must follow local regulations in those regions. Among other things, that means that trading leverage is limited to just 1:30 for even the most liquid trading assets, but it also means that clients are better protected in case the broker for some reason goes out of business.
A special thing to note about XS, however, is that Australian and EU-based traders can still sign up with the broker's branch in the Seychelles, and thus avoid these regulatory restrictions. Under the Seychelles branch, leverage goes all the way up to 1:500, which is pretty much in line with the industry standard for offshore forex brokers.
The instruments that can be traded with XS include nearly all commonly traded forex pairs, a huge selection of stocks from more than 1000 companies listed in the US, UK and Europe, a number of popular commodities, government bonds, many stock indices, and some 35 crypto pairs.
All of the assets offered by XS can be traded on either one of the three supported trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5) or the broker's own web trading platform.
When signing up with XS as a new user, it's necessary to choose which type of trading account to use. In the case of this broker, there are four types, with the difference mainly being whether the trader pays for his activities through commissions or spreads:
– Elite (RAW) account, with 0 spreads and commissions of $6 per lot
– Standard account, with spreads from 0.9 pips and no commissions
– Classic account, with spreads from 1.4 pips and no commissions
– Plus account, with spreads from 1.9 pips and no commissions
All of the trading accounts support the broker's full range of assets, and allows for trading on either one of the platforms offered.
To fund a trading account, clients can make a local or international bank transfer, use Visa, MasterCard, or the e-wallets Skrill, Neteller, Klarna or Giropay. Most of the funding methods accept EUR and USD as the funding currency, while Klarna also accepts the currencies GBP, PLN and CZK.
In the rare event that help from customer support is needed, the XS support team can be reached via live chat, email, or a request for call-back option. Unfortunately, the live chat functionality on the website did not work at the time of writing, but the broker still promises that its support team is available 24 hours per day, 7 days per week.
All in all, we would say that XS' strongest selling point is the good selection of assets it has available for trading. The broker is particularly well-suited for stock and forex traders given the wide range of such instruments available. We are also happy to see that the spreads here are within the area we would consider acceptable, making this broker an interesting option to consider for serious traders.
