XS Review 2025: Is This Forex Broker Safe?

XS (also known as XS.com) is a Forex broker established in 2022 and headquartered in Mauritius. While the company boasts regulation from top-tier authorities like ASIC, its operational history is relatively short, and it holds a moderate WikiFX Score of 5.21. The broker offers digital account opening and high leverage, but potential clients should be aware of significant disparities between its regulatory status and user-reported experiences regarding fund safety.

Pros and Cons of XS

• ✅ Regulated by top-tier authorities including ASIC (Australia) and FSCA (South Africa).
• ✅ Offers industry-standard MT4 and MT5 trading platforms.
• ✅ Provides flexible account types (Cent, Micro, Standard) with leverage up to 1:2000.
• ❌ Rated “Poor” (Grade D) for Trading Environment due to high costs and swap rates.
• ❌ Numerous complaints regarding denied withdrawals and profit cancellations.
• ❌ Unverified regulatory status with CySEC and an official warning from the Japan FSA.
• ❌ Does not support mobile apps for iOS/Android or WebTrader.

XS Regulation and License Safety

XS operates under a multi-jurisdictional framework, but traders must distinguish between its specific entities to understand their level of protection.

Valid Licenses

• Australia: XS PRIME LTD is regulated by the Australian Securities & Investments Commission (ASIC), holding license number 374409. This is a Tier-1 license offering robust supervision.
• South Africa: XS ZA (Pty) Ltd is authorized by the Financial Sector Conduct Authority (FSCA) under license 53199.
• Seychelles: XS Ltd is regulated by the Seychelles Financial Services Authority (FSA) under license SD089. This is an offshore license with different regulatory standards compared to Australia.

Risk Warning

Despite valid licenses in some regions, there are concerning regulatory gaps. WikiFX data indicates that the license claimed from the Cyprus Securities and Exchange Commission (CySEC) is Unverified. Furthermore, the Japan Financial Services Agency (FSA) has issued a warning against XS Ltd (linked to XS.com) for operating without proper registration. Traders should be cautious, as these indicators suggest potential compliance issues across different borders.

Real User Feedback and Complaints

In recent months, WikiFX has received multiple complaints regarding XS, particularly concerning the handling of profits and withdrawals. The broker has a pattern of disputes involving “abuse of trading conditions.”

• Profit Reversals: A user from the UAE reported a profit of $127,888 being reversed. The broker cited “swap arbitrage” and “abuse of trading conditions” after the user profited from market movements following the US election. Only the initial deposit was returned.

• Withdrawal Blocks: Multiple users from Brazil and China have reported inability to withdraw funds. One significant case involved a $24,000 balance stuck in “analysis” for over 39 days without resolution.
• System Errors: A trader from China reported forced liquidation of Bitcoin and Gold positions due to a recognized system error, yet compensation was refused.

XS Forex Trading Conditions and Fees

XS offers a variety of account structures, but its overall trading environment has been rated Grade D (Poor) due to high costs.

Account Types and Leverage

Traders can choose between Standard MT5, Standard MT4, Micro, and Cent accounts. The broker offers extremely high leverage up to 1:2000, which amplifies both potential gains and risks. The Micro and Cent accounts allow for lower minimum deposits ($0.01 - $0.1), making it accessible for beginners.

Platforms

Clients can access the global markets via the XS login on MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms support automated trading (EAs) and scalping. However, the broker notably lacks proprietary mobile apps or web-based trading solutions, limiting access to the desktop or standard MetaQuotes mobile software.

Spreads and Costs

While execution speeds are rated highly (Grade AA), the cost structure is problematic. The “Cost Grade” is D, driven by high swap rates (holding costs) and spreads, particularly on Gold (XAU/USD).

Final Verdict

XS presents a conflicting profile: it holds reputable licenses from ASIC and FSCA, yet it is plagued by serious allegations of profit wiping and withdrawal refusals alongside a “Poor” trading environment rating. The warning from the Japan FSA and Unverified CySEC status add further risk.

Traders should exercise extreme caution. While the platform supports high leverage and MT4/MT5, the inability to withdraw profits reported by legitimate users is a major red flag.

To stay safe and view the latest regulatory certificates, check XS on the WikiFX App.