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XS group includes several 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 SA - located in South Africa, regulated by the Financial Sector Conduct Authority (FSCA).
XS MY - located in Malaysia, regulated by the Labuan Financial Services Authority (LFSA).
XS SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (FSA).
Be aware, CY brokers are subject to some trading restrictions imposed by the European Securities and Markets Authority (ESMA).
Unfortunately, ASIC has also placed similar restrictions (such as leverage limitation) on AU brokers since late March 2021.
At the same time, SA/MY/SEY brokers have way less constraints and more flexible trading conditions, 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.
| 45+ Currency Pairs | Based on major and minor world currencies. |
| 7 Crypto Pairs | Based on Bitcoin, Ethereum, Litecoin, NEO, Monero, Ripple, Zcash. |
| 13 Indice CFDs | Based on baskets of different blue-chip stocks and US Dollar Index. |
| 6 Metal CFDs | Based on Gold, Silver, Platinum, Palladium. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 650+ Stock CFDs | Based on shares of US, EU, HK 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 1:2,000, which is among the highest in the industry.
The instruments that can be traded with XS include nearly all commonly traded forex pairs, a huge selection of stocks from more than 650 companies listed in the US, Europe, and Hong Kong, many major stock indices, and seven crypto pairs.
All of the assets offered by XS can be traded on either MetaTrader 4 (MT4) or MetaTrader 5 (MT5), two of the most trusted and popular trading platforms in the industry. Among other things, the MetaTrader platforms are popular due to the flexibility they offer trading strategy developers. Thanks to the platforms' proprietary coding language, developers can easily code strategies and indicators and share them with the rest of the trading community.
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 multiple account types under the two umbrellas “Preferred” and “Professional”.
Preferred clients (commission-free accounts suitable for new traders):
– Standard account, with no minimum deposit, spreads from 1.1 pips, and trading across all assets.
– Cent account, with no minimum deposit, spreads from 1.1 pips, and trading in forex and metals only.
– Micro account, with no minimum deposit, spreads from 1.1 pips, and trading in forex, metals, energies and indices.
Professional clients (with minimum deposit requirements, suitable for more experienced traders):
– Pro account, with a $500 minimum deposit, spreads from 0.7 pips, and no commissions.
– Elite account, with a $500 minimum deposit, spreads from 0.1 pips, and $3 commissions per side ($6 round-turn, charged upfront when opening a position).
– VIP account, with a $100,000 minimum deposit, spreads from 0.1 pips, and negotiable commission-based trading.
To fund a trading account, clients can make a local or international bank transfer, use Visa, MasterCard, or the e-wallets Skrill or Neteller. All of the funding methods accept EUR, USD and GBP as the funding currency.
In the rare event that help from customer support is needed, the XS support team can be reached via live chat, email, or phone. The live chat is generally responsive, with agents usually available to answer questions within a few minutes. Unfortunately, however, there is no information about the support team's working hours, which makes us doubt that 24 hour support is available here.
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.
Tradin with them for a while, generally on fx majors. Wish spreads would be tighter, but overall doesn't feel like scam, good stuff.
Gold seems to have good spreads on their Pro Account (MT5 platform), apprecaite it.
Joined them, because one of the best regulations. Tbh didn't know what to look at while choosing a broker. Regulations, costs, and MT5, were enough reasons to go with XS. It's good that they have small accounts, like micro and cent to practice with real money without high risks. Thanks to that managed to gain confidence to start actually earning smth. Meant a world for me.
The leverage doesn't limit me at all here, it is up to 1:2000. Using only 1:200 of it, but still good.
Read more XS reviews on the Internet, they are more or less ok, but the trading platforms are not functioning as perfect as they describe in the comments =)
