XS Markets

Overview of XS Markets

XS Markets is a relatively new brokerage that entered the trading scene in 2022, with its headquarters located in Cyprus. The company prides itself on offering a diverse range of trading opportunities through Contract for Difference (CFD) instruments. These include Forex CFDs, Metals CFDs, Shares CFDs, Indices CFDs, and Commodities CFDs, enabling traders to access a broad spectrum of global markets. With a strong emphasis on regulatory compliance, XS Markets operates under the oversight of the Cyprus Securities and Exchange Commission (CySEC), ensuring adherence to industry standards and providing a sense of security for traders.

XS Markets caters to traders of varying experience levels by offering two distinct account types. The Standard Account is tailored for novice traders, providing straightforward market access without commissions. On the other hand, the RAW Account targets experienced traders who require deep liquidity and ultra-tight spreads. Both account types offer a range of trading instruments, platform choices, and leverage options. XS Markets supports popular trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), known for their advanced features and user-friendly interfaces. This enables traders to make well-informed trading decisions and execute their strategies seamlessly.

The broker's commitment to customer support is evident through various channels, including email, phone, and live chat. Clients can receive assistance during business hours, fostering a responsive and helpful trading environment. While the availability of education resources and bonus offerings is not detailed in the provided information, XS Markets appears focused on providing traders with a robust platform to explore the financial markets and manage their investments with confidence.

Is XS Markets Legit？

XS Markets is a regulated broker under the Cyprus Securities and Exchange Commission (CySEC). Its current status as a regulated entity ensures that it operates under the oversight and regulations set forth by CySEC. The broker holds a valid license, specifically License No. 412/22, which further confirms its regulatory compliance.

Pros and Cons

XS Markets presents both advantages and potential drawbacks for traders to consider. On the positive side, the brokerage offers a diverse selection of trading instruments, spanning Forex CFDs, Metals CFDs, Shares CFDs, Indices CFDs, and Commodities CFDs. Its CySEC regulation ensures a degree of oversight and compliance. Moreover, the availability of different account types caters to varying trading preferences and experience levels, while supporting trading on both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms provides flexibility. On the downside, XS Markets lacks specific information about its educational resources, and the absence of disclosed bonus offerings might deter those seeking promotional incentives. The detailed pros and cons are summarized in the table below.

Trading Instruments

XS Markets offers a diverse selection of trading instruments, catering to a wide range of investment strategies. Traders can engage in Contract for Difference (CFD) trading across various asset classes, including Forex CFDs, Metals CFDs, Shares CFDs, Indices CFDs, and Commodities CFDs.

The broker provides an array of Forex CFDs, enabling traders to participate in the foreign exchange market. With a selection of major, minor, and exotic currency pairs, such as GBP/USD, AUD/CAD, and NZD/USD, traders have the opportunity to capitalize on global currency fluctuations.

In addition to Forex, XS Markets offers Metals CFDs, allowing traders to trade precious metals such as gold and silver. This provides exposure to the dynamic precious metals market, allowing traders to speculate on price movements without owning the physical assets.

XS Markets also provides access to Shares CFDs, encompassing over 60 international stocks. This diverse portfolio includes well-known companies like Alibaba, BNP, Disney, and McDonalds, enabling traders to potentially benefit from the performance of these equities without the need to own the underlying shares.

Furthermore, the broker offers Indices CFDs, featuring 13 global indices such as US30, FTSE100, and AUS200. Traders can participate in the price movements of these indices, reflecting the broader performance of specific markets.

Commodities CFDs are also available on XS Markets, covering 13 commodity futures including copper, wheat, natural gas, and crude oil. This allows traders to speculate on the price fluctuations of essential raw materials.

Through this diverse range of trading instruments, XS Markets aims to accommodate a wide spectrum of trading preferences and strategies, providing traders with opportunities to explore various market sectors and capitalize on potential investment prospects.

Here is a comparison table of trading instruments offered by different brokers:

Account Types

XS Markets offers two distinct account types tailored to meet the varying needs and expertise of traders.

1. Standard Account:

The Standard Account is designed for novice traders seeking straightforward market access without the complexity of commissions. Traders utilizing this account type gain access to an array of trading instruments, including 40+ FX pairs, 10+ indices, 5+ commodities, and over 100 shares. The account offers multiple platform choices such as Meta Trader 4 (MT4), Meta Trader 5 (MT5), and a Web Trader, ensuring traders can choose the interface that suits them best. Additionally, mobile apps are available for trading on the go. With a minimum deposit of EUR 200, traders can start their journey with XS Markets, and the minimum trade size of 0.01 lot provides flexibility. Leverage of up to 1:30 is offered, allowing traders to magnify their positions. Spreads start from as low as 0.7 pips, and there are no commissions. XS Markets also offers an Islamic Account option for traders who require compliance with Sharia principles. The account base currency is EUR.

2. RAW Account:

The RAW Account is targeted towards experienced traders who demand deep liquidity and ultra-tight spreads. Like the Standard Account, the RAW Account provides access to the same range of markets, including 40+ FX pairs, 10+ indices, 5+ commodities, and over 100 shares. Platform choices encompass MT4, MT5, Web Trader, and mobile apps, catering to traders' preferences. With a slightly higher minimum deposit of EUR 500, this account type offers the advantages of enhanced trading conditions. The minimum trade size remains at 0.01 lot, and leverage of up to 1:30 is available. Notably, spreads start from an impressively low 0.0 pips, offering highly competitive rates. Commissions are charged from $3.00 per lot per side. An Islamic Account option is also provided for adhering to Sharia principles. As with the Standard Account, the account base currency is EUR.

These two account types provide traders with options to align their trading preferences and strategies with the features and benefits that best suit their experience level and trading goals.

How to Open an Account？

Opening an account with XS Markets is a straightforward process that involves four simple steps:

1. Register:

To begin, prospective traders are required to complete the registration form. This form collects essential information needed to create an account. This step typically involves providing personal details, contact information, and selecting the preferred account type.

2. Verify:

Once the registration form is completed, traders need to verify their identity and account. This verification process is a crucial security measure and ensures compliance with regulatory requirements. Traders will be prompted to upload requested documents, which usually include proof of identification (such as a passport or driver's license) and proof of address (like a utility bill or bank statement). Verification is a one-time process and is essential for account activation.

3. Fund:

After successful verification, traders can proceed to fund their XS Markets trading account. The broker offers a variety of flexible payment methods to cater to different preferences. These methods often include bank transfers, credit/debit cards, and sometimes e-wallets. Traders can select the payment option that suits them best and initiate the funding process.

4. Trade:

Once the trading account is funded, traders can start trading the wide range of over 140 tradable instruments offered by XS Markets. These instruments encompass various asset classes, including forex, metals, shares, indices, and commodities. The broker provides access to popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which offer an array of tools and features to aid traders in their trading decisions.

Leverage

XS Markets offers leverage of up to 1:30, which allows traders to control larger positions in the market with a relatively smaller amount of capital. Leverage can amplify both potential profits and potential losses, making it a powerful tool for experienced traders.

However, it's important to use leverage with caution, as it also increases the risk associated with trading. While leverage can magnify gains, it can also lead to substantial losses, especially in highly volatile markets. Traders should carefully consider their risk tolerance and employ effective risk management strategies when utilizing leverage. It's worth noting that the offered leverage may vary based on the trading instrument and regulatory requirements.

Here is a comparison table of maximum leverage offered by different brokers:

Spreads and Commissions

XS Markets offers two types of trading accounts with different spreads and commissions:

1. Standard Account:

- Spreads: Starting from 0.8 pips

- Commission: None (no commission charged per USD 100 traded)

2. Premium Account:

- Spreads: Starting from 0.0 pips

- Commission: $3 per USD 100 traded

Traders who opt for the Standard account can benefit from competitive spreads while avoiding commission charges. On the other hand, the Premium account offers even tighter spreads but comes with a commission fee. The choice between these two account types depends on traders' preferences for trading costs and conditions.

Deposit & Withdraw Methods

XS Markets offers a comprehensive range of deposit and withdrawal methods to facilitate seamless transactions for its clients.

Deposits: Clients have the flexibility to choose from various funding options. Bank transfers are available with a minimum deposit of €200, offering a straightforward and secure way to fund accounts. Visa and MasterCard deposits, with a fee of €15 or $15, provide instant processing and support deposit amounts up to €5,000 or equivalent. Skrill, Neteller, and Mifinity are fee-free options for instant deposits, with minimum requirements of €10, €10, and €15 respectively, and maximum deposit amounts ranging from €15,000 to €2,500.

Withdrawals: The withdrawal process is designed for client convenience. Bank transfer withdrawals take 3-4 business days to reflect in the client's account. Withdrawals via Mifinity are processed within 1 business day, while Neteller and Skrill withdrawals, also fee-free, have a processing time of 1 business day. Visa and MasterCard withdrawals require a minimum withdrawal of €25 and are processed within 1 business day as well.

Clients should be aware that while XS Markets itself does not charge fees for deposits or withdrawals, payment providers may impose charges. Additionally, the processing times for deposits and withdrawals vary based on the chosen method. The availability of certain payment options may be restricted based on the client's country. XS Markets emphasizes the importance of ensuring that all deposits into trading accounts originate from the account holder's name, and withdrawals can generally only be made using the same method as the original deposit. It's worth noting that a fee of up to 3% may be incurred for withdrawals requested without any trading activity.

Trading Platforms

XS Markets provides traders with a choice between two popular and highly regarded trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are well-known in the industry for their advanced features, ease of use, and comprehensive trading capabilities.

MetaTrader 4 (MT4): MT4 is a renowned trading platform appreciated for its reliability and versatility. It grants traders access to a diverse range of trading instruments, encompassing forex pairs, commodities, indices, and shares. The platform equips traders with advanced charting tools, an array of technical indicators, and customizable templates to tailor their trading strategies. MT4 also supports automated trading through Expert Advisors (EAs), allowing traders to implement automated trading tactics. With its user-friendly interface and real-time market analysis, MT4 is suitable for traders of all experience levels.

MetaTrader 5 (MT5): Building upon the success of MT4, MetaTrader 5 (MT5) introduces enhanced features and expanded capabilities. MT5 offers access to an even wider selection of markets, including forex, commodities, indices, and stocks. The platform provides advanced charting tools, a rich assortment of technical indicators, and analytical objects for in-depth market analysis. MT5 also boasts additional timeframes and order types compared to MT4, providing traders with more flexibility in their trading strategies. Moreover, MT5 incorporates an Economic Calendar feature, helping traders stay informed about upcoming economic events that could impact the markets. Similar to MT4, MT5 supports automated trading through Expert Advisors.

Both the MT4 and MT5 platforms are available for various devices, such as desktop computers, web browsers, and mobile devices. This adaptability empowers traders to access their accounts and manage trades regardless of their location and time zone. Through their comprehensive features and intuitive interfaces, the MetaTrader platforms offered by XS Markets cater to the diverse needs and preferences of traders.

Customer Support

XS Markets places a strong emphasis on providing responsive and comprehensive customer support to its traders, ensuring a seamless trading experience and addressing any inquiries or concerns that may arise.

Email Support: Traders have the convenience of reaching out to XS Markets' customer support team via email at any time. The platform encourages traders to share their questions, issues, or requests through the provided email address: support@xsmarkets.com. This channel offers a direct line of communication for those who prefer written correspondence and allows for timely assistance.

Dedicated Phone Support: XS Markets offers dedicated phone support to assist traders during business operating hours. The phone support is available from Monday to Friday, 08:00 to 18:00 GMT+2. Traders can dial the provided phone number, +35725249600, to connect with a customer support representative who can provide guidance and address any concerns.

Dedicated Live Chat: For instant assistance and real-time interaction, XS Markets offers a dedicated live chat function. Traders can engage directly with the customer support team by using the live chat feature on the platform. This feature is available 24 hours a day, five days a week, ensuring that traders can receive prompt assistance whenever they need it.

Overall, XS Markets strives to offer a variety of channels for customer support to accommodate different communication preferences. Whether through email, phone, or live chat, traders can expect timely and knowledgeable assistance from the XS Markets customer support team, contributing to a positive and well-supported trading journey.

Conclusion

In summary, XS Markets, a regulated brokerage founded in 2022 and headquartered in Cyprus, offers a diverse range of trading instruments and account types, catering to traders of different levels of expertise. The availability of MetaTrader 4 and MetaTrader 5 platforms, along with responsive customer support, enhances the trading experience. However, the lack of detailed information about educational resources and potential bonus offerings could be a limitation. Traders considering XS Markets should evaluate its offerings against their specific trading needs and preferences.

FAQs

Q: Is XS Markets regulated？

A: Yes, XS Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring compliance with industry standards and providing a level of oversight for the broker's operations.

Q: What types of trading accounts does XS Markets offer？

A: XS Markets offers two types of trading accounts: the Standard Account and the RAW Account. The Standard Account is suitable for novice traders, while the RAW Account caters to experienced traders who seek tighter spreads and deep liquidity.

Q: What are the minimum deposit requirements for XS Markets accounts？

A: The Standard Account requires a minimum deposit of EUR 200, while the RAW Account has a slightly higher minimum deposit of EUR 500.

Q: What leverage does XS Markets offer？

A: XS Markets provides leverage of up to 1:30, allowing traders to control larger positions with a relatively smaller amount of capital. However, it's important to use leverage cautiously due to its potential risks.

Q: Which trading platforms are available at XS Markets？

A: XS Markets offers traders the choice between MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, both known for their advanced features, analysis tools, and user-friendly interfaces.