What is XS?
XS is a multi-licensed financial services provider headquartered in Australia, operating under differing regulatory oversight depending on jurisdiction. XS is regulated across four global jurisdictions.
XS offers varrious popular tradable instruments spanning forex currency pairs, equities, indices, precious metals, energies, agricultural commodities, and cryptocurrencies. Classic and Plus are presented as the main current XS account types.
The trading platforms supported include the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5), renowned for their user-friendly design and robust technical analysis tools. XS also provides a web-based platform and mobile app for on-the-go trading access.
Pros and Cons
Is XS Legit?
XS is regulated across four global jurisdictions. It holds a CySEC Forex Execution STP licence and a FSCA derivatives trading licence for retail‑oriented operations. Its ASIC licence is limited to institutional business only. XS also maintains a licence from the Seychelles Financial Services Authority under a light‑touch offshore regulatory framework. Retail services are provided through its Cyprus, South Africa and Seychelles entities.
Market Instruments
- Currencies: XS offers a range of currency pairs for trading, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs like AUD/CAD and USD/SGD.
- Shares: XS provides access to trading shares of various companies from around the world. Examples include Apple Inc. (AAPL), Microsoft Corporation (MSFT), and Amazon.com Inc. (AMZN).
- Indices: The platform allows trading on a variety of global stock market indices such as the S&P 500, Dow Jones Industrial Average, and FTSE 100.
- Metals: Trading opportunities in precious metals like gold and silver are available, providing exposure to fluctuations in their market prices.
- Energy: XS offers trading options in energy commodities like crude oil and natural gas, enabling participation in the price movements of these resources.
- Commodities: Apart from metals and energy, XS extends its offerings to other commodities like agricultural products, including wheat, corn, and soybeans.
- Crypto: The platform includes a selection of cryptocurrencies for trading, such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), allowing investors to speculate on the value of these digital assets.
Account Types
Preferred Account Types:
Cent Account: This MT5-based account provides access to currencies and metals with an average EUR/USD spread of 1.1 pips and no commissions.
Micro Account: Designed for MT5 users, this account focuses on currencies, metals, energies, and indices with an average EUR/USD spread of 1.1 pips and no commissions.
Standard Account: Available on both MT4 and MT5, this account offers a wide range of instruments including currencies, metals, cryptocurrencies, energies, indices, futures, and shares. The average EUR/USD spread is 1.1 pips with no commissions.
Professional Account Types:
Elite Account: Traders can access currencies, metals, cryptocurrencies, energies, indices, and futures on MT4 or MT5. This account features tight average EUR/USD spreads of 0.1 pips, but with a $6 commission per side.
Pro Account: This MT4 and MT5 account provides a comprehensive offering of currencies, metals, cryptocurrencies, energies, indices, futures, and shares. The average EUR/USD spread is 0.7 pips with no commissions.
VIP Account: Exclusive to the MT5 platform, this account offers a diverse range of instruments with an average EUR/USD spread of 0.1 pips and commissions.
Partner Special Account Types:
Extra Account: Available on MT4 and MT5, this account gives access to currencies, metals, cryptocurrencies, energies, indices, and futures with an average EUR/USD spread of 2.1 pips and no commissions.
Classic Account: Designed for MT4 and MT5 users, this account offers currencies, metals, cryptocurrencies, energies, indices, and futures with an average EUR/USD spread of 1.6 pips and no commissions.
Plus Account: Designed for MT4 and MT5 users, this account offers currencies, metals, cryptocurrencies, energies, indices, and futures with an average EUR/USD spread of 0.1 pips and 10$/15$/20$ commissions.
How to Open an Account?
To open an account with XS, follow these steps:
- Click on the “JOIN XS NOW” button on the registration page.
- Provide your registration details:
- Title (e.g., Mr., Mrs., etc.)
- First name (using Latin characters, spaces, and dashes)
- Last name (using Latin characters, spaces, and dashes)
- Country / Region of residence
- Phone number (numbers only)
- Email address
- Select your preferred language.
- Create a password and repeat it for confirmation.
- Confirm your agreement to the terms and policies:
- Confirm that you have read, understood, and agree with the Privacy Policy, Client Services Agreement, Risk Disclosure, Order Execution Policy, Complaint Policy, and Conflicts of Interest Policy.
- Declare that you are neither a citizen nor a resident of the United States for tax purposes.
Leverage
XS offers dynamic leverage of up to 1:2000 for traders seeking amplified trading potential.
Minimum Deposit
The minimum deposit depends on the account type and legal entity. Some accounts, such as Standard/Cent/Micro, may have no minimum deposit, while Pro/Elite accounts have different requirements. It should not be stated that all XS accounts require a $200 minimum deposit.
Deposit & Withdrawal
Deposits: XS offers multiple deposit options with varying minimum and maximum deposit amounts. Bank transfers require a minimum deposit of $200 with unlimited maximum, processing in 1-7 working days for EUR and USD. Visa & MasterCard deposits have a $50 minimum and $5,000 maximum, processing instantly for EUR and USD. Skrill and Neteller deposits, both with a $15 minimum, allow up to $15,000 or equivalent and process instantly for EUR and USD. Klarna deposits, also starting at $15, can go up to $5,000, processing within 1 business day for EUR, GBP, PLN, and CZK. Giropay deposits, starting at $15, are limited to $5,000, processing in up to 1 business day for EUR.
Withdrawals: For withdrawals, bank transfers require a minimum of $200 and have unlimited maximum withdrawals, processing in 1 business day for EUR, USD, and GBP. Visa & MasterCard withdrawals have a $50 minimum and a maximum of $5,000, processing instantly for the same currencies. Skrill withdrawals start at $50 and go up to $50,000 or equivalent, processing in 1 business day for EUR, USD, and GBP. Neteller withdrawals require a minimum of $50 and have a maximum of $2,500 or equivalent, processing instantly for EUR, USD, and GBP.
Trading Platforms
Metatrader 4 (MT4) Platform: XS offers the popular Metatrader 4 (MT4) platform, known for its user-friendly interface and automated trading features. With a wide range of technical indicators and trading tools, MT4 supports market analysis and trade execution. Traders can access real-time quotes, employ one-click trading, and build custom indicators and automated strategies. The platform's versatility and convenience make it suitable for traders of varying experience levels.
Metatrader 5 (MT5) Platform: XS introduces the MetaTrader 5 (MT5) platform, an advanced version of its predecessor with improved features. MT5 provides an expanded set of tools for technical analysis, including 90 indicators and charting options. Traders can place one-click trades, access embedded news, and utilize six types of pending orders. The platform's support for hedging positions, a diverse range of timeframes, and a VPS service enhances its versatility and utility for traders.
XS Web Trader Platform: The XS Web Trader platform offers clients a web-based trading solution accessible from any operating system. This platform eliminates the need for downloads and installations, allowing traders to access their accounts conveniently from web browsers. With real-time quotes, multiple chart types, and timeframes, XS Web Trader offers a reliable and user-friendly trading experience. Its compatibility across devices ensures traders can manage their activities seamlessly.
XS Trader Mobile App: XS provides traders with the XS Trader Mobile App for on-the-go trading. This mobile app allows users to access their accounts and trade from anywhere using advanced mobile technology. Traders can execute trades, manage accounts, and customize settings on the move. The app offers a range of features including reliable deposit and withdrawal methods, advanced charts, and multiple chart types and timeframes, making it a comprehensive solution for mobile trading.
PAMM Soultion
XS provides clients with advanced Percentage Allocation Money Management (PAMM) solutions, a powerful tool for diversifying portfolios. Their PAMM system integrates with the MetaTrader 5 platform, allowing you to either invest in accounts managed by experienced traders or take the helm yourself as a money manager.
Customer Support
XS provides around-the-clock customer support through various contact options. Clients can access assistance through a call back request form, live chat via the XS online trading platform, or by requesting a call back. For email inquiries, support is available at support@xs.com. Additionally, XS maintains a presence on Twitter, Instagram, and Facebook for additional communication channels.
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