While looking for the best CFD broker, you will inevitably wonder if the ones mentioned are legit or a scam. XS.COM happens to be one of many CFD brokers whose legitimacy is being investigated. This XS.COM review summarizes all the points you should know to decide whether the broker is a scam.
Is XS.COM A Legit Online Trading Platform?
XS.COM is a broker, which means it’s the middleman between investors and investments. XS contracts are limited to CFD, contract for difference. Therefore, as a trader, you don’t hold any actual assets but rather “bet on” the price fluctuation of the chosen assets.
XS.COM was established in 2010 in Australia and has recently jumped into CFD trading. The broker offers access to various tradable instruments such as futures, shares, indices, metals, commodities, crypto, forex, and energy. Moreover, XS.COM has multiple accounts that offer different spreads, leverage, and tradable instruments, so you can pick the ones that fit you best.
Additionally, you can quickly deposit and withdraw money into and from your accounts through multiple methods, such as bank transfers, credit/debit cards, and popular e-wallets. Moreover, the multi-asset broker offers multi-lingual support mainly for those speaking English, French, Spanish, Arabic, Traditional Chinese, Simplified Chinese, Thai, Vietnamese, Portuguese, Japanese, and Korean.
4 Reasons Why XS.Com Is Not A Scam
You’re knee-deep into XS.com reviews to ensure you’re putting your money in one of the best online trading platforms. Fortunately, XS.com is a secure environment because of its strong security infrastructure and strict adherence to numerous restrictions. Here are four reasons why XS.com is not a scam.
1. Strict Regulatory Compliance
XS.com operates multiple international regulations established across various jurisdictions. Notably, the platform operates under the following regulatory frameworks:
- FSA, Seychelles
- ASIC, Australia
- CySEC, Cyprus
It’s important to note that multiple XS.com reviews praise the brokers for their regulatory compliance.
2. Insurance Coverage Up to $5,000,000
XS.com offers an additional Civil Liability Insurance Program, underwritten by Lloyd’s of London, providing clients with coverage of up to USD 5,000,000. This insurance protects against monetary losses from mistakes, fraud, carelessness, or service-related malfunctions.
Clients who create active accounts immediately register in this program, guaranteeing reimbursement for monetary damages resulting from XS’s decisions or errors. XS’s commitment to regulatory compliance demonstrates its pledge to uphold the highest industry standards and protect investor assets.
3. Segregation of XS.com’s Clients Funds
XS Group strictly keeps client accounts and company funds apart. This basic procedure entails putting customer money in separate accounts at respectable financial organizations. This division strengthens security against any operational unforeseen circumstances by guaranteeing the apparent isolation of client cash from the company’s operating capital.
4. Data Protection Measures
XS.com puts its customers’ data security first by setting strong security measures to protect financial assets, private information, and identity. XS.com guarantees a robust security system by using the best data encryption available across platforms and keeping an attentive staff to watch for and address any inconsistencies in online payment activity.
The platform guarantees improved account security with stringent password restrictions, verification processes, two-step verification options, and automated email confirmations for password changes. GDPR compliance is ensured by regular external audits and adherence to Data Protection rules, highlighting XS’s dedication to upholding strong data security safeguards.
XS.com’s adherence to strict data protection protocols, robust insurance coverage, segregation of client assets, and regulatory compliance all highlight the platform’s legitimacy and commitment to providing consumers a safe and reliable trading environment.
XS.COM Review: Pros and Cons
We’ve already established that XS.com is not a scam because of its regulatory compliance, insurance coverage, segregation of clients’ funds, and strict data protection measures. Now, we must dive deeper into what the platform offers. Of course, the multi-asset broker has its pros and cons.
XS.Com Pros
When using the platform, you’ll immediately see that XS.com features an easy-to-use layout that makes joining up a breeze, ensuring a hassle-free experience as you venture into the trading world. Regarding offering a safe trading environment, as previously mentioned, XS.com is a global broker with numerous regulatory approvals (think ASIC, CySEC, and FSA).
Moreover, funding your account with XS.com is as easy as clicking because of its quick and dependable funding options. But what really makes XS.com unique is the variety of asset classes it offers all under one roof—from equities to cryptocurrencies—allowing traders to diversify their holdings quickly.
XS.com also allows you to trade in your favorite language because of its first-rate multilingual customer care. Last but not least, XS.com respects your time and guarantees quick, equitable trade execution, which makes every transaction easy and productive.
XS.com Cons
Although XS.com has many great features, it’s vital to remember that some inexperienced traders may initially find the platform’s vast possibilities intimidating. Imagine entering a high-tech store where every device looks enjoyable, yet sorting through so many choices could be overwhelming. Similarly, beginners in trading may find it intimidating to learn about the variety of tools, indicators, and trading alternatives available on XS.com.
However, to help novices navigate the platform’s capabilities, XS.com frequently offers tutorials, educational materials, and customer service. This ensures a smooth and informative transition from a confusing variety of possibilities to a trading experience that is pleasantly manageable.
Conclusion
In conclusion, XS.COM stands out as a trustworthy and genuine online trading platform. It guarantees traders a safe and easy experience with a range of tradable assets, strict security protocols, and a strong regulatory compliance framework. Although the platform’s many features may at first seem overwhelming, its focus on assistance and education highlights how serious it is about creating a reliable environment for traders of all skill levels.
