XS.com is a forex and CFD brand of the XS Group. International clients of www.xs.com deal with XS Ltd, a Seychelles securities dealer licensed by the FSA. In the European Economic Area the brand trades as XSMarkets through XS Markets Ltd, a CySEC-licensed Cyprus investment firm. The group also names XS Prime Ltd (ASIC, wholesale clients only), XS Finance Ltd (Labuan FSA), XS ZA (Pty) Ltd (FSCA), XS Trade Services Ltd (FSC Mauritius), a UAE company licensed for introduction and promotion, a Kuwaiti company, and companies registered in Saint Lucia and Saint Vincent and the Grenadines.
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Financial Services Authority Seychelles (FSA) | SD089 | XS Ltd | Authorised Checked 26 Oct 2026 | Register entry for XS Ltd (opens in a new tab) 3 |
| Cyprus Securities and Exchange Commission (CySEC) | 412/22 | XS Markets Ltd | Authorised Checked 26 Oct 2026 | Register entry for XS Markets Ltd (opens in a new tab) 2 |
| Australian Securities and Investments Commission (ASIC) | AFSL 374409 | XS Prime Ltd | Authorised Checked 26 Oct 2026 | Register entry for XS Prime Ltd (opens in a new tab) 4 |
| Labuan Financial Services Authority (Labuan FSA) | MB/21/0081 | XS Finance Ltd | Authorised Checked 26 Oct 2026 | Register entry for XS Finance Ltd (opens in a new tab) 5 |
| Financial Sector Conduct Authority (FSCA) | FSP 53199 | XS ZA (Pty) Ltd | Authorised Checked 26 Oct 2026 | Register entry for XS ZA (Pty) Ltd (opens in a new tab) 6 |
| Capital Market Authority (CMA) | 20200000339 | XS COM Financial Consultation L.L.C | Authorised Checked 26 Oct 2026 | Register entry for XS COM Financial Consultation L.L.C (opens in a new tab) 7 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
XS.com’s Seychelles, Cyprus, Australian, Labuan, South African and UAE licences match their regulators’ records; we could not check the Mauritius or Kuwaiti licences, and the Australian licence covers wholesale clients only. International clients deal with XS Ltd, a Seychelles securities dealer whose agreement keeps client money in segregated accounts and gives negative balance protection, with leverage of up to 1:2000; no compensation scheme applies and complaints can only be taken to the FSA. EU clients of XS Markets Ltd have the Investor Compensation Fund and the Cyprus ombudsman; its website warns that 100% of retail accounts lose money, and its 2025 disclosures show its capital below the minimum requirement at the end of 2025 and only just above it in April 2026. XS tells clients their funds are automatically covered by up to USD 5 million of Lloyd’s insurance, while the certificate shows a civil liability policy of XS Ltd that gives clients no rights and is shared with affiliates. The group does not say who owns it or name the banks that hold client money. Japan’s FSA warned XS Ltd in September 2024 for soliciting Japanese residents without registration.
The XS Ltd agreement places client money in client accounts segregated from the company’s own, with an approved bank or payment provider, although clients consent to money being held by payment providers or third parties outside the client money rules and passed to brokers as margin. The EU agreement keeps client money segregated under CySEC’s rules.
The FSA lists XS Ltd, which deals with international clients as principal, as a securities dealer. XS Markets Ltd is licensed to receive, transmit and execute orders and passes client orders to liquidity providers rather than dealing on its own account. XS Prime’s licence covers wholesale clients, and xs.com is not directed at Australia. XS ZA is approved for intermediary services and the UAE company for consultations, introduction and promotion. We could not see the Mauritius company’s permissions.
The six licences we could check are current, with no suspension or restriction shown; the Australian licence is limited to wholesale clients by its own terms.
The regulation page gives the full name, registration number and registered office of each licensed company, and the agreements repeat those of XS Ltd and XS Markets Ltd; the Kuwaiti company is named without a number or address.
The XS Ltd agreement says clients will not be required to cover losses exceeding their invested capital, which the company may disapply for abusive strategies, and the EU agreement says a client cannot lose more than the investment in each trading account.
Reduced the enforcement dimension by 2 points (low severity, 2.1 years before the review).
Partly met We matched XS Ltd on the FSA’s list, XS Markets Ltd on CySEC’s register, XS Prime Ltd in ASIC’s licensee data, XS Finance on the Labuan FSA directory, XS ZA on the FSCA’s register and XS COM Financial Consultation on the UAE register. We could not check the Mauritius licence or the Kuwaiti licence.
Not met We found no complaint statistics published by XS or by a regulator or ombudsman for its companies. XS Prime’s licence covers wholesale clients only, so it is not within AFCA’s published complaint data.
Not met XS says client money is held with “the most reputable financial institutions around the world” and XS Markets with EU credit institutions, but neither names the banks.
Partly met The FSA, CySEC, ASIC, Labuan, FSCA and UAE licences XS lists match the registers. We could not confirm the Mauritius or Kuwaiti licences, and the footer describes the Saint Lucia and Saint Vincent companies as “registered and authorised” under local law although we found no financial licence for either.
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 1234567
We matched XS Ltd on the FSA’s list, XS Markets Ltd on CySEC’s register, XS Prime Ltd in ASIC’s licensee data, XS Finance on the Labuan FSA directory, XS ZA on the FSCA’s register and XS COM Financial Consultation on the UAE register. We could not check the Mauritius licence or the Kuwaiti licence.
Permissions cover the services offered 234678910
The FSA lists XS Ltd, which deals with international clients as principal, as a securities dealer. XS Markets Ltd is licensed to receive, transmit and execute orders and passes client orders to liquidity providers rather than dealing on its own account. XS Prime’s licence covers wholesale clients, and xs.com is not directed at Australia. XS ZA is approved for intermediary services and the UAE company for consultations, introduction and promotion. We could not see the Mauritius company’s permissions.
Regulatory claims on the website are accurate 1234567811
The FSA, CySEC, ASIC, Labuan, FSCA and UAE licences XS lists match the registers. We could not confirm the Mauritius or Kuwaiti licences, and the footer describes the Saint Lucia and Saint Vincent companies as “registered and authorised” under local law although we found no financial licence for either.
Clients can tell which regulated entity serves them 181213
The regulation page and the client agreement say XS Ltd of the Seychelles operates xs.com, and xsmarkets.com names XS Markets Ltd. But the footer lists ten companies without saying which clients the Labuan, Mauritius, Kuwaiti, Saint Lucia and Saint Vincent companies serve, and two of them are called XS Ltd.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Ultimate ownership can be identified 114151617
Neither XS’s website, its documents nor the Cyprus company’s regulatory disclosures name the owners of the group or of its companies. GLEIF names no parent for XS Ltd, XS Markets Ltd or XS Prime Ltd: it says the latter two are controlled by natural persons, whom it does not name, and that the entity controlling XS Ltd does not prepare consolidated accounts.
Group structure is explained 18
The site describes XS Group as a multinational provider whose entities are authorised to use the XS brand, and names XS Fintech Ltd as its technology arm and Ficupay Ltd as the payment agent, but it does not explain how the companies are owned or which company is the parent.
Directors or senior managers are identified 3571418
XS Markets’ disclosures name its four directors, the Labuan FSA names Saribek Paraskevov as director of XS Finance, the UAE register names the UAE company’s board member and managers, and a press release names the group CEO, Mohamad Ibrahim. We found no directors named for XS Ltd, the company that serves international clients; the FSA lists Giorgos Kadis only as its contact.
Financial statements are available 1419
XS Markets Ltd publishes annual Pillar III disclosures with its own funds and capital requirements, showing a total capital ratio of 90% at 31 December 2025 against a 100% minimum. We found no financial statements for XS Ltd, the company that serves international clients.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Client money segregation is disclosed 101214
The XS Ltd agreement places client money in client accounts segregated from the company’s own, with an approved bank or payment provider, although clients consent to money being held by payment providers or third parties outside the client money rules and passed to brokers as margin. The EU agreement keeps client money segregated under CySEC’s rules.
Retail clients have negative balance protection 101112
The XS Ltd agreement says clients will not be required to cover losses exceeding their invested capital, which the company may disapply for abusive strategies, and the EU agreement says a client cannot lose more than the investment in each trading account.
An investor compensation scheme applies 10122021
EU clients of XS Markets Ltd are covered by the Investor Compensation Fund up to the lower of 90% of covered claims and EUR 20,000. No compensation scheme covers clients of XS Ltd; the Lloyd’s civil liability insurance XS describes is the company’s own policy and is not a compensation scheme.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 2 points.
Warned by Japan’s Financial Services Agency for soliciting derivatives business without registration 26
25 Sept 2024. Reduced the enforcement dimension by 2 points (low severity, 2.1 years before the review).
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
Independent complaint outcomes show no adverse pattern 27
We found no published ombudsman or dispute-body decisions about the XS companies.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
Costs are disclosed before account opening 122324253031
XS publishes average spreads, commissions and swap rates by account and instrument, and its funding page and agreement set out fees. But the help centre says there are no inactivity or withdrawal fees, while the agreement allows an annual USD 50 fee after a year without activity and a 3% administration fee where funds are withdrawn without trading. The EU site sets out its costs, including a monthly dormant fee, but not the rate of its conversion fee.
Leverage and margin terms are disclosed 123033
The account pages give maximum leverage of 1:2000 with a 40% margin call and 20% stop-out, and the XS Ltd agreement sets stop-out levels by account type and the reduced leverage on Friday evenings. The EU leverage policy gives the ESMA retail limits, the 50% margin close-out and leverage for professional clients.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable 112022343536
XS tells clients that their funds are automatically covered by up to USD 5 million of Lloyd’s insurance in an “enhanced and extended protection scheme”, while the certificate shows a civil liability policy of XS Ltd, shared with affiliates, that gives clients no rights. Its claim to be “a global market leader” has no source; its awards are attributed to named organisers.
An address and working contact channels are published 12310283738
XS publishes email, live chat and telephone numbers, but its contact page gives no postal address. XS Ltd’s registered office on the website (Eden Plaza) differs from the FSA register and the complaints policy (Azores Building), and XS Markets Ltd is given three Limassol addresses: one on CySEC’s register and contact page, another in its agreement and a third on xs.com.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Financial Services Authority Seychelles (FSA) · Reference SD089 3
Securities dealer
Listed by the FSA as a securities dealer with the website www.xs.com; the licence number is XS’s own (the register shows none).
Cyprus Securities and Exchange Commission (CySEC) · Reference 412/22 2
Reception and transmission of orders and execution of orders on behalf of clients in financial instruments 1 to 10; ancillary services including safekeeping, granting credit and foreign exchange connected to investment services. No dealing on own account.
Licence granted 4 April 2022. Approved trade name XS Markets and domain www.xsmarkets.com; cross-border services in CFDs to Austria, Germany, Greece, Italy, Portugal and Spain.
Australian Securities and Investments Commission (ASIC) · Reference AFSL 374409 4
Advice on and dealing in derivatives, foreign exchange contracts, securities, managed investment schemes and deposit products, and custodial services, for wholesale clients only
Licence start date 13 September 2010.
Labuan Financial Services Authority (Labuan FSA) · Reference MB/21/0081 5
Labuan money broker
Listed among Labuan money brokers (list updated 9 September 2026); the licence number is XS’s own (the directory shows none).
Financial Sector Conduct Authority (FSCA) · Reference FSP 53199 6
Category I: intermediary services in derivative instruments and long-term and short-term deposits
Authorised since 17 October 2023. The FSP register covers advice and intermediary services; we did not check the separate list of authorised over-the-counter derivative providers.
Financial Services Commission, Mauritius (FSC) · Reference GB25204786 1
Stated by XS. The FSC Mauritius register puts automated requests through a bot check, so we did not read it.
Capital Market Authority (CMA) · Reference 20200000339 7
Financial consultations, introduction and promotion (category 5, arrangement and advice)
Open-data record CP-0001567, established on 24 April 2025; the register displays no licence number, so 20200000339 is the number XS gives.
No licence recorded for this entity.
No licence recorded for this entity.
No licence recorded for this entity.
No licence recorded for this entity.
No licence recorded for this entity.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
On 25 September 2024 Japan’s Financial Services Agency warned XS Ltd, of F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service names “XS” and “XS.com”. The entry itself gives the month only; the date of 25 September 2024 comes from later entries on the list that refer to this warning. The entry was still on the list updated on 23 October 2026.
Firms can respond to their profile and to any finding. No response has been published for XS.com. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 26 Oct 2026 | Trust score 80 out of 100 Strong | 1.2 | Current |
No corrections have been made to this profile.
Gives for each licensed company its registration number, registered office, regulator and licence number: XS Ltd (Seychelles company 8428765-1, F20, 1st Floor, Eden Plaza, Eden Island), which “operates under the website www.xs.com”; XS Prime Ltd (Australian company 141 194 934, care of Morris Mennilli, Suite 701, Level 7, 92 Pitt Street, Sydney); XS Markets Ltd (HE 386563, 68 Spyrou Kyprianou, Germasogeia, Limassol); XS Finance Ltd (Labuan LL17310, Unit B, Lot 49, Lazenda Warehouse 3, Labuan); XS ZA (Pty) Ltd (2023/608801/07, 140 Bauhinia Road, Highveld Technopark, Centurion); XS Trade Services Ltd (Mauritius 224974, Suite 201, The Catalyst, Ebene); XS COM Financial Consultation L.L.C (UAE 1495925, Office 302, Building 2, Bay Square, Business Bay, Dubai). XS United is named with its Kuwaiti licence number only. The page says the regulatory provisions for an investor compensation scheme vary depending on which XS entity a client deals with.
Lists XS Markets Ltd (ex RockFrost Ltd), licence 412/22 granted on 4 April 2022, company HE 386563, at 247 Franklinou Rousvelt, Block B, 1st Floor, Limassol, with the trade name XS Markets and the domain www.xsmarkets.com. Its investment services are reception and transmission and execution of orders in financial instruments 1 to 10, with ancillary safekeeping, credit and foreign exchange services; it has no permission to deal on own account. It provides cross-border services in CFDs to Austria, Germany, Greece, Italy, Portugal and Spain.
Lists XS LTD among licensed securities dealers at the 3rd Floor of the Azores Building, Ile du Port, Mahe, with the telephone number +248 4323314, the email info@xs.com, the website www.xs.com and Giorgos Kadis as contact. The register does not show licence numbers.
Lists AFSL 374409 held by XS PRIME LTD (ABN 92141194934), Sydney, from 13 September 2010, authorised to advise on and deal in derivatives, foreign exchange contracts, securities, managed investment schemes and deposit products and to provide custodial services, each for wholesale clients only.
A search of the directory for “XS” returns XS Finance Limited (formerly known as Blaza International Ltd.) in the list of money brokers (updated 9 September 2026), at Office 9, Phil Business Centre 1, Unit F25, 1st Floor, Paragon Labuan, with the email compliance@xsfinance.com and Saribek Paraskevov as director and principal officer. The directory shows no licence numbers.
The FSP search lists XS ZA (PTY) LTD, a private company registered as 2023/608801/07, as an authorised financial services provider under number 53199 since 17 October 2023, at 140 Bauhinia Road, Highveld Technopark, approved under Category I for intermediary services in derivative instruments and long-term and short-term deposits. It shows a compliance officer and one key individual and no representatives.
Lists XS COM FINANCIAL CONSULTATION L.L.C (CP-0001567) as active, established on 24 April 2025, at Office 302, Business Bay, Dubai, with the email superusersca@xs.com and active licences for financial consultations, introduction and promotion. Wael Hammad Hammad is its board member; its head of compliance, financial analyst and promotion manager were accredited on 10 October 2025. The register does not display a licence number.
The home page promotes “Join the Global Multi-Regulated Broker”, “A Global Trusted Market Leader with Multiple Reputable Licenses”, “Enhanced Insurance up to $5,000,000” by Lloyd’s of London and dynamic leverage of up to 1:2000. The footer names XS Ltd (FSA Seychelles, SD089), XS Prime Ltd (ASIC, 374409), XS Markets Ltd (CySEC, 412/22), XS Finance Ltd (Labuan FSA, MB/21/0081), XS ZA (Pty) Ltd (FSCA, 53199), XS Trade Services Ltd (FSC Mauritius, GB25204786), XS United (“authorized by the regulatory authorities in the State of Kuwait”, licence 2097/2025, listed under MOCI), XS COM Financial Consultation L.L.C (UAE CMA, 20200000339), XS (LC) LTD. (“registered and authorised under the laws of Saint Lucia”, 2025-00114) and XS Ltd of Saint Vincent and the Grenadines (27216 BC 2025). It describes XS Fintech Ltd (HE 426566) as the group’s technology arm and Ficupay Ltd (HE 433983) as the payment agent of the XS entities. The risk warning says clients may lose all their capital and gives no share of losing accounts. A notice says the site is not directed at EU residents and falls outside the MiFID II framework. Telephone +248 432 3314.
XS Ltd always acts as principal and is the sole execution venue for client orders, which are executed outside a regulated market. The policy ranks the execution factors, explains that spreads may widen in fast markets and that some orders may be priced or executed manually, and says the company monitors the institutions it uses as hedging liquidity providers without naming them. A conflicts of interest policy of the same date is published.
Agreement with XS Markets Ltd (CySEC 412/22, HE 386563, Agiou Andreou 365, Limassol). Client money is placed in segregated client accounts with financial institutions inside or outside the EEA and is not used in the company’s business. The company operates negative balance protection, so a client cannot lose more than the investment in each trading account. It arranges execution of client orders with a liquidity provider rather than dealing as principal, and receives monthly commissions from that provider based on volume. It participates in the Investor Compensation Fund, which pays the lower of 90% of covered claims and EUR 20,000. Positions are closed when margin falls to 50%. Changes need at least 5 business days’ notice for natural persons. Unsatisfied clients may complain to the Financial Ombudsman of Cyprus. The month is given, so we use 1 December 2023.
The articles say client money is segregated from the company’s funds and reconciled daily, that clients are not required to cover losses exceeding their invested capital because XS applies negative balance protection, and that XS provides insurance coverage of up to USD 5,000,000 at no extra cost under which “your funds are automatically covered”. Another article says XS Group operates under FSA, ASIC, CySEC, LFSA, FSCA, FSC, SCA and MOCI licences.
Agreement with XS Ltd (Seychelles company 8428765-1), licensed by the FSA as a securities dealer under SD089; every page says XS.com is a website operated by XS Ltd. Client money is placed promptly in client accounts segregated from the company’s own accounts with an approved bank or payment provider, although the client consents to money being held by payment providers or third parties that do not apply the client money rules and passed to brokers or exchanges as margin. Clients are not required to cover losses exceeding their invested capital, as the company applies negative balance protection, which it may disapply for abusive strategies (clause 31). Positions may be closed when margin falls below 100% and are closed automatically at 20% (50% for certain VIP accounts, 10% for cent accounts); the company may cap leverage at 1:100 on forex for positions opened on Friday evenings and before major news. The agreement allows an annual USD 50 fee after a year without activity and a 3% administration fee where funds are deposited and withdrawn without trading. Complaints go to complaints@xs.com under the complaints policy. Amendments are notified in writing or on the website, with no minimum notice period. Seychelles law and courts apply. The month is given, so we use 1 June 2026.
Says XSMarkets is a brand name used by XS Markets Ltd, a Cyprus investment firm (HE386563) authorised by CySEC under licence 412/22, with its registered address at Agiou Andreou 365, Efstathiou Court, 2nd Floor, Limassol, and that the trading platform is provided by XS Fintech Ltd. It serves residents of the EU and EEA except France and Belgium, and not retail clients in Italy. The risk warning says that 100% of retail investor accounts lose money when trading CFDs with this provider. The home page advertises 30:1 leverage, negative balance protection and an “award-winning trading platform”; the about page calls XSMarkets a true STP/ECN broker.
Signed by the board on 2 April 2026. The company has ten employees in Cyprus and says all client funds are held in segregated accounts at EU credit institutions, which it does not name. Its management body is Saribek Paraskevov and Dimitris Chrysostomou (executive directors) and Gregoris Dellas and Vasos Tsiakkiros (independent non-executive directors). At 31 December 2025 its own funds of USD 158,712 were below its permanent minimum capital requirement of USD 176,250, a total capital ratio of 90% against a minimum of 100%; at the date of the report it held USD 184,381 against an own funds threshold requirement of USD 180,783 (102%). One table heads these figures “$ thousands”, but the own funds tables give 158,711.58, so we read them as US dollars. The report does not name the company’s owners.
XS LTD, Seychelles company 8428765-1, formerly Ficuspread Limited, at F20, 1st Floor, Eden Plaza, Eden Island, created 15 July 2020, LEI issued. No parent is named; the reason given is that the entity controlling it does not prepare consolidated accounts.
XS MARKETS LTD, HE 386563, formerly RockFrost Ltd, at 68 Spyrou Kyprianou, Germasogeia, Limassol, created 19 July 2018. No parent is reported; the exception given is that it is controlled by natural persons, who are not named.
XS PRIME LTD, Australian company 141 194 934, created 18 December 2009, previously named Acquacap Ltd, Ruizean Funds Management Ltd, EC Partners Management Ltd and Emission Capital Management Ltd. No parent is reported; the exception given is that it is controlled by natural persons, who are not named.
Says XS.com opened an office in Kuwait City in partnership with NVEST, a subsidiary of Construction Group and Al Wataniya Group, giving it “a newly licensed entity in Kuwait under the name XS Online”, and that the office will be a hub for customer support and market development. It quotes Mohamad Ibrahim as Group CEO of XS.com.
Publishes, without an account, the privacy policy, client services agreement, risk disclosure statement, order execution policy, complaints handling policy, conflicts of interest policy and AML policy of XS Ltd.
The certificate linked from the insurance page confirms a civil liability insurance policy for forex brokers, insured XS Ltd, with certain underwriters at Lloyd’s, from 10 October 2026 to 9 October 2027, with a limit of USD 5,000,000 any one claim and in the aggregate, including defence costs. It states that it confers no rights on anyone holding it, that the policy has important limitations and exclusions, and that the cover is shared with other affiliated entities.
The Investor Compensation Fund covers claims of covered clients against a member Cyprus investment firm up to the lower of 90% of their cumulative covered claims and EUR 20,000.
Says all client accounts are held in segregated accounts “with the most reputable financial institutions around the world”, without naming them, and that clients have additional insurance of up to USD 5,000,000 under a civil liability insurance programme underwritten by Lloyd’s of London that covers losses in excess of USD 10,000 against omission, fraud, negligence and other risks, so that clients’ funds are “safe, secure, and protected at all times”.
The articles say withdrawals are typically processed within 24 hours, by bank transfer, cards, Skrill, Neteller, online banking and local methods, with minimums and maximums by method (for example a USD 250 minimum by bank transfer), and that XS charges no withdrawal fees. The other fees section says XS charges no currency conversion fees and no inactivity fees, although an account left inactive for a month with less than USD 1 becomes read only.
Lists deposit methods with minimums, maximums and processing times, and says XS charges no internal fees for deposits or withdrawals and bears its payment providers’ fees, but reserves the right to apply a withdrawal fee of up to 3% where there has been no trading activity or where it identifies abusive trading or fraud.
Explains spreads, commissions, swaps, dividends and a currency conversion fee without stating its rate, a 3% fee case by case where funds are withdrawn without trading, and a dormant fee of EUR 10 a month after 12 months. The deposits and withdrawals page (xsmarkets.com/paymentsfees/) lists methods, limits, processing times (bank transfer withdrawals in 3 to 4 business days) and no fees.
Lists XS Ltd, F20, 1st Floor, Eden Plaza, Eden Island, Seychelles, warned in September 2024 for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service names “XS” and “XS.com”. The entry notes that it shares an address with Tradexfin Limited (warned 21 August 2020) and Nymstar Limited (warned 21 April 2023), while saying their relationship is unknown. Later entries for Trinota Markets (Global) Limited and Smarttool Trading SC Limited give the date of the XS Ltd warning as 25 September 2024.
On 26 October 2026 we searched CySEC’s board decisions (all 1,173 to 2 October 2026 and the latest page, to 16 October 2026), the FCA’s list of investment firms and its warnings, the CVM’s declaratory acts dataset (to May 2026), the Reserve Bank of India’s alert list (19 November 2025), Bank Negara Malaysia’s Financial Consumer Alert List, the Securities Commission Malaysia’s Investor Alert List and the Japan FSA’s list of warned unregistered firms (23 October 2026) for XS, XS.com, XSMarkets and the company names and former names (Ficuspread, RockFrost, Blaza), and ran web searches for actions by ASIC, the FSA Seychelles, Consob, the CNMV and others. The only entry we found is the Japan FSA’s warning about XS Ltd.
Complaints go by form to complaints@xs.com or by post to XS Ltd, 3rd Floor, Azores Building, Ile du Port, Victoria, Mahe. They are acknowledged within 2 business days and answered within 21 business days, extendable to 90 for complicated cases. A client who is not satisfied may refer the complaint to the competent authority, the FSA, whose contact details are given; no other dispute body is named. The month is given, so we use 1 November 2025.
Complaints go to complaints@xsmarkets.com, are acknowledged within five days and answered within two months, with a holding response and an outcome within a further month at most. Unsatisfied clients can go to the Financial Ombudsman of the Republic of Cyprus within four months, whose contact details are given. The month is given, so we use 1 January 2023.
The account pages give the average EURUSD spread for each account (1.1 pips on Standard, Cent and Micro, 0.7 on Copy Pro) and whether commission is charged. The Standard account has no minimum deposit, maximum leverage of 1:2000 with dynamic leverage, a 40% margin call and a 20% stop-out.
Explains that spreads float and the table shows the previous day’s average, that maximum leverage changes with net open positions, and that swap long and swap short rates apply at 23:59 server time with triple swaps on Wednesdays or Fridays; the instrument table loads by script.
Sets out the execution factors and names the execution venues as Broctagon Prime Ltd and MTG Liquidity Limited, which the company may change on at least one business day’s notice. The month is given, so we use 1 January 2023.
Retail clients have the ESMA leverage limits, from 1:30 on major currency pairs to 1:2 on cryptocurrencies, with a margin call notification before positions are closed at 50% of the initial margin; professional clients on request may have up to 1:100. The month is given, so we use 1 January 2023.
Says the XS Group, operating under the brand name XS or XS.com, was established in Australia in 2010 and has grown into “a global market leader” with licences in various jurisdictions; it gives no source for the leadership claim and does not name owners or managers.
Says that once a client opens a live account “your funds will be automatically covered” by the civil liability insurance programme underwritten by Lloyd’s, which “can provide compensation for a value of up to USD 5 Million” in the event of a financial loss caused by error, omission, negligence, fraud or failure to perform by XS, and calls it “an enhanced and extended protection scheme”. The page links a certificate.
Lists awards with their event, place, date and organiser, for example Best Global Multi-Asset Broker at the Traders Fair Awards (FINEXPO, December 2025) and Best Forex Broker at Rankia LATAM Colombia (May 2026).
Offers email support and live chat, with the telephone number +248 432 3314 in the footer, but gives no postal address.
Gives the operational address 247 Franklinou Rousvelt, 1st Floor, 1B, 3046 Limassol, telephone +357 25 249600, email support and live chat, with business hours.
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