Pros
  • ASIC and CySEC regulation
  • Segregated accounts for clients funds
  • Negative balance protection
  • Variety of funding methods
Cons
  • No comprehensive education available
  • Trading conditions might vary based on the entity
  • Spreads and commissions vary
  • No educational resources

Reviewed broker: XS

Location: Seychelles, Australia, Cyprus, Malaysia, South Africa

Regulation: FSA Seychelles, Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Financial Services Authority of Labuan (LFSA), Financial Sector Conduct Authority (FSCA) in South Africa

Established in 2010

Trading instruments: Forex, Shares, Indices, Metals, Commodities, Cryptos, and Energies

Latest Awards

BROKER OF THE YEAR – UF Awards Global 2024 Ultimate Fintech, Limassol, Cyprus June 2024

MOST SECURE BROKER – Oman Smart Vision Summit, Oman, February 2024.

BEST GLOBAL BROKER – Qatar Financial Expo (QFEX), Qatar, February 2024.

BEST MULTI-ASSET BROKER (MEA) – UF Awards MEA 2024, UAE, January 2024.

BEST TRADING CONDITIONS (MEA) – UF Awards MEA 2024, UAE, January 2024.

Trading Conditions and Features

XS offers leverages and commissions for diverse instruments: major, minor, and exotic FX pairs boast a leverage of 1:500; metals include 1:200 for gold, 1:100 for silver, and 1:50 for platinum and palladium. Energy instruments feature a leverage of 1:100, major indices offer 1:100, minor indices provide 1:50, commodities utilize 1:50, shares employ 1:50, and cryptocurrencies operate at 1:20 leverage.

Spreads

Based on our test trade, XS’s clients are offered floating spreads, with an average spread of 0.7 pips for the popular EUR/USD currency pair in Forex trading which is a quite competitive proposal compared to the industry average, making it an appealing choice for traders across multiple markets.

Moreover, the broker provides tight spreads as low as 0.0 pips on all major currency pairs and other popular instruments.

Account Types

XS offers a free demo account for all prospective clients, and we think this often-overlooked feature is another real bonus. It grants access to all platforms, a rare opportunity to get to grips with the platforms and broker before investing.

XS offers four account types, and we were impressed to find a fair pricing structure on all accounts, as well as no minimum deposit requirement in most. This means that newer or casual traders, who tend to favour zero-commission and micro-lot trading, will not be at a major disadvantage in the Standard account, since the spreads from 0.9 pips are still competitive.

With that said, we were unable to determine why the Classic and Plus accounts are necessary since they offer the same features as the Raw and Standard accounts, but with less competitive spreads.

  • Standard – offers commission-free trading with spreads starting from 0.9 pips. There is no initial deposit requirement. One-click trading is supported, as are stop-out levels and micro lot trading. The Standard account is best suited to beginner and casual traders who make medium- or long-term trades.
  • Raw – commission per lot is set at $3 ($6 per lot round turn) while spreads start from 0 pips. The initial deposit is $5,000 and all trading styles are supported. The RAW account is best suited to experienced traders who need tight, stable spreads for short-term and automated strategies.
  • Classic – Commission-free trading with spreads from 1.4 pips and no initial deposit requirement. Micro-lot trading is also supported, as well as all trading styles and asset classes.
  • Plus – Commission-free trading with spreads from 1.9 pips and no initial deposit requirement. Micro-lot trading is also supported, as well as all trading styles and asset classes.

Trading Platforms

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.

Additionally, MT4 and MT5 trading platforms are accessible through desktop, web, or mobile devices, giving traders the flexibility to stay connected to the markets and trade at any time, making it a beneficial trading opportunity that may be suitable for a wide range of traders.

Traders using XS can benefit from advanced charting features with various chart types, multiple timeframes, and technical indicators that can help with market analysis. The platform also comes with a built-in economic calendar displaying scheduled events and news releases that may impact the markets, allowing traders to plan their trades accordingly.

MT4

Highlights of MetaTrader 4 include:

  • 3 chart types with 9 timeframes
  • 50+ technical indicators
  • Backtesting capabilities
  • Real-time price quotes
  • Expert Advisors (EAs)
  • One-click trading
  • MQL4-based

MT5

Highlights of MetaTrader 5 include:

  • 3 chart types and 21 timeframes
  • Backtesting capabilities
  • 90 technical indicators
  • Real-time price quotes
  • Expert Advisors (EAs)
  • 6 pending order types
  • Economic calendar
  • One-click trading
  • VPS capabilities
  • MQL5-based

Both platforms are available with the XS demo account.

WebTrader

A third option is the WebTrader, a sleek platform offering a great range of charting styles, features for analysis and indicators. These are available to view across nine timeframes.

We think this is a good offering that will appeal especially to newer traders as it makes it easier to start trading than the MetaTrader apps.

Both hedging and scalping are permitted on the WebTrader.

XS offers a social trading feature where traders can copy trades from others or share their trading signals with the community. The MT4 and MT5 platforms also support automated trading with the use of Expert Advisors (EAs) and algorithmic trading, making it a suitable option for those who prefer a more hands-off trading approach.

Xs.com Review: Asset Management Solutions

The asset management solution at XS.com enables professional asset managers to manage multiple accounts simultaneously and trade on their investors’ behalf using the advanced PAMM Solution.

PAMM, or Percent Allocation Management Module, is a turnkey money management investment system that allows professional asset managers to trade on their clients’ accounts. At the same time, the Investors will get view-only access to their accounts.

The PAMM solution at XS.com is fully integrated and compatible with MetaTrader4 and MetaTrader5 trading platforms.

Payment Options

Minimum deposit: $200

Payment methods: Bank transfers, Visa & MasterCard, Skrill, Neteller, Klarna, Giropay

You can expect a smooth and quick withdrawal process with XS, as the broker promises to process withdrawal requests within one business day, ensuring that clients can access their funds immediately.

Customer Support

Supported languages: Arabic, Chinese(Simplified), Chinese(Traditional), English, French, Japanese, Portuguese

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. 

XS does not offer promotions or welcome bonus offers. This is per standard regulatory requirements which stipulate that promotional offers and similar incentives may mislead customers. 

Demo contests

Philippines Top Trader
  • Demo Contest
  • July 1 – July 14
  • Total Prizes: 2,500 USD
    -Ten Top Traders
Early Summer Demo Trading Contest 2024
  • Demo Contest & Lucky Draw
  • July 8 – July 22
  • Total Prizes: 1,000,000 JPY
    – Five Top Traders
    -5 Five Lucky Winners
Arab Top Trader
  • Demo Contest
  • July 22 – August 03
  • Total Prizes: 2,500 USD
    – Top 10 Traders

How was the rating of LiteFinance performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on LiteFinance FX broker performance and features. 

Overall our online LiteFinance review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online LiteFinance or you find inaccurate details LiteFinance broker review please get in touch with us and the changes will be applied.

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