XS.com broker is advertising affordable trading fees. Has anyone used their services and can provide some feedback?

[chrispenn99]

XS.com, a broker registered with ASIC, CYSEC, FSA, LFSA, and FSCA, advertises affordable trading fees. What's your experience with them?

[URL deleted]

 

[Panzer Wang]

only ASIC(STP) and FSA in wikifx, and operating time is within five years. Not trustworthy bro.
choose a broker must pay attention to its licence and length of operation.

 

[chrispenn99]

Thanks, Panzer. It's strange that WikiFX only lists those details, as other forex review sites mention that XS is regulated by major financial authorities worldwide FSA, ASIC, CySEC, LFSA, and FSCA, and has been in business since 2010.

 

[Panzer Wang]

Thanks, Panzer. It's strange that WikiFX only lists those details, as other forex review sites mention that XS is regulated by major financial authorities worldwide FSA, ASIC, CySEC, LFSA, and FSCA, and has been in business since 2010.

How could I adress you? Chris?
Well, from the information available (from its official website and wikifx,Google), from my experience of working in this market for many years, firstly it is a group, and secondly it extends its years of operating history by acquiring other brokers. That's why it's licence is confusing and why it's been in business for over a decade.

In summary, my advice is to never use these new sounding brokers as they will be lacking in all aspects of protection.

 

[chrispenn99]

Understood, thanks for sharing your feedback panzer.