XS.com Account Types

Overall, XS.com provides multiple different live trading accounts, Cent, Standard, Micro, Elite, Pro, and VIP. A minimum deposit amount of R9500 ZAR is required to register an XS.com Elite live trading account in South Africa.

XS.com Account Types – 12 Key Point Quick Overview

1. ☑️ XS.com Overview
2. ☑️ XS.com Detailed Summary
3. ☑️ XS.com Safety and Security
4. ☑️ XS.com Account Types and Features
5. ☑️ How to Open and Close an XS.com Account
6. ☑️ XS.com MAM / PAMM Features
7. ☑️ XS.com Trading Platforms
8. ☑️ XS.com Range of Markets
9. ☑️ XS.com Customer Reviews
10. ☑️ XS.com Pros and Cons
11. ☑️ In Conclusion
12. ☑️ Frequently Asked Questions

XS.com Overview

XS.com offers a variety of account categories to South African traders, including Cent, Standard, Micro, Elite, Pro, and VIP. These accounts accommodate various trading styles and capital sizes, from novice to high-volume traders.

South Africans benefit from a 0 ZAR minimum deposit for most accounts, high leverage choices up to 1:1000, and access to diverse markets. The availability of Islamic and unlimited demo accounts adds to its appeal in the South African market.

XS.com Detailed Summary

XS.com Safety and Security

Multiple levels of safety and security are a top priority for XS.com. Its international regulatory approvals and lack of direct oversight by the Financial Services Regulatory Authority (FSCA) of South Africa attest to its adherence to rigorous financial standards.

Fund segregation serves to safeguard client funds by mitigating the potential for misappropriation. Despite potential financial challenges, the investments of traders remain safeguarded.  Furthermore, to prevent cyber assaults, XS.com implements strong security protocols, such as two-factor authentication and SSL encryption.

Notable as well is the provision of negative balance protection, which safeguards traders against excessive losses, particularly in volatile markets.

XS.com Account Types and Features

XS.com Cent Account

The Cent Account at XS.com is great for South African beginners, as it allows for trading in cent quantities, lowering the entry hurdle dramatically. It is ideal for those looking to test the waters in forex trading with a 0 ZAR minimum investment and no commission.

XS.com Standard Account

The Standard Account at XS.com is a versatile option for new and seasoned South African traders. It has no minimum deposit requirement, cheap spreads, and supports a diverse range of tradable assets, making it a superb all-rounder.

XS.com Micro Account

The Micro Account is designed for South Africans who want smaller transaction volumes and allows trading in micro-lots. This account has no commissions and minimal spreads, making it ideal for cautious traders or those testing new techniques with real money.

XS.com Elite Account

The Elite Account is designed for high-volume South African traders, with ultra-low spreads and a charge of $6 per lot traded. It is intended for more serious traders looking for advanced trading conditions and deeper liquidity, with a minimum deposit of 9,500 ZAR.

XS.com Pro Account

The Pro Account at XS.com is aimed at professional traders and offers some of the lowest spreads with no commission charges. With a minimum deposit of 18,900 ZAR, it is ideal for individuals looking for low-cost trading across various instruments.

XS.com VIP Account

XS.com’s VIP Account is the pinnacle of their offers, designed specifically for wealthy traders. It caters to seasoned traders and investors seeking a premium trading experience, with a substantial minimum deposit of 1.9 million ZAR.

XS.com Demo Account

South African traders have a risk-free platform to test methods and become familiar with trading dynamics thanks to the XS.com Demo Account. With access to the MetaTrader 4 and MetaTrader 5 platforms, this account replicates actual market circumstances.

Many tradable assets are supported, such as shares, Forex, indices, commodities, precious metals, energy, cryptocurrencies, futures, and commodities.

In addition, trading can be done on the demo account with a maximum leverage of 1:500, denominated in US dollars. With no expiration date, it is extremely helpful for beginners to practice and for seasoned traders to improve their techniques.

XS.com Islamic Account

Designed for Muslim traders in South Africa, the XS.com Islamic Account complies with Shariah law by not charging swap or rollover interest on overnight holdings. Exchange-free trading is provided via this account type, available for Cent, Standard, Micro, Elite, Pro, and VIP accounts.

The account has leverage choices ranging from 1:1000 for Micro and Cent accounts to 1:500 for the other accounts, with USD as the base currency.

With this account type, you can trade on the MetaTrader 4 and MetaTrader 5 platforms across several asset classes, including Forex and precious metals. It also offers hedged margin solutions to meet the unique requirements of traders looking for a Shariah-compliant trading environment.

How to Open and Close an XS.com Account

To register an XS.com Account in South Africa, traders can follow these steps:

• ✅ To initiate the process, navigate to the account registration section by visiting the XS.com homepage.
• ✅ The account creation procedure is initiated by clicking “Join XS Now.”
• ✅ Input your personal information into the designated fields, including your name and South African residency details.
• ✅ Choose your preferred account types, such as Cent, Standard, Micro, Elite, Pro, or VIP, per your trading requirements and level of expertise.
• ✅ Please review and consent to the terms and conditions of XS.com, which encompass their privacy policy and risk disclosure statements.
• ✅ The registration process can be concluded by submitting the necessary documentation to verify identity.

Once approved, fund your account using one of the available methods, such as a credit/debit card or bank transfer.  Once funding is complete, you can start trading on either the MetaTrader 4 or MetaTrader 5 platforms.

Traders who want to close their XS.com Account can follow these steps:

• ✅ Utilize the customer support interface of XS.com (live chat or email).
• ✅ Provide your identification and account information required to authenticate your account ownership.
• ✅ Ensure all outstanding fees and dues are settled, and all trading positions are closed.
• ✅ Comply with the precise guidelines stipulated by the customer support staff.

After submitting the closure request, await an email from XS.com affirming that your account has been successfully closed.

XS.com MAM / PAMM Features

Asset Management Solutions from XS.com are specifically created for South African professional traders, asset managers, and money managers, providing a solid foundation for managing client investments.

This service enables South African investors to entrust the management of their accounts to competent traders who combine knowledge with strategic trading. Clients have view-only access to their accounts, which ensures openness and oversight.

The platform is geared toward the South African market, providing regulatory compliance and access to various asset classes, both of which are critical for risk management and capitalizing on market opportunities.

Furthermore, advanced reporting capabilities provide real-time insights that aid in informed decision-making. Thus, XS.com’s Asset Management Solutions offer a comprehensive trading and investment management approach, catering to a wide range of client needs in South Africa.

XS.com Trading Platforms

XS.com MetaTrader 4

XS.com provides MetaTrader 4 (MT4) access to South African traders through Standard, Elite, and Pro account types. MT4 is well-known for its user-friendly design and comprehensive functionality, making it a popular choice among traders of all skill levels.

It offers a wide range of financial goods, such as Forex, commodities, cryptocurrencies, energy, and indices, to provide a well-rounded trading portfolio. The platform supports various trading strategies and risk tolerances by providing leverage of up to 1:500.

Furthermore, XS.com caters to Islamic traders by providing demo and Shariah-compliant Islamic accounts, supplementing the MT4 experience with powerful charting tools, automated trading features, and access to significant liquidity.

XS.com MetaTrader 5

In addition to MT4, XS.com offers MetaTrader 5 (MT5) across all account types, including Cent, Standard, Micro, Elite, Pro, and VIP.

Extended timeframes, comprehensive charting capabilities, and a wide range of financial instruments, including currencies, metals, cryptocurrencies, energy, indices, futures, stocks, and commodities, are among the characteristics of MT5 as an improved version of MT4.

Leverage ranges from 1:1000 for Cent and Micro accounts to 1:500 for other categories. While the Standard, Elite, Pro, and VIP accounts can access demo accounts, the Cent and Micro accounts do not.

Furthermore, with enhanced functionality and a broader assortment of financial instruments, XS.com’s integration of MT5 enriches the trading experience, responding to the different needs of South African traders.

XS.com Range of Markets

South African traders can expect the following range of markets from XS.com:

• ✅ Forex
• ✅ Indices
• ✅ Shares
• ✅ Precious Metals
• ✅ Energies
• ✅ Cryptocurrencies
• ✅ Futures
• ✅ Commodities

Financial Instruments and Leverage offered by XS.com

XS.com Customer Reviews

🥇 Perfect for High Volume Trading.

I have been trading with the XS.com Elite Account and enjoy the low spreads and quick execution. It suits my high-volume trading approach perfectly. However, the initial deposit is quite high for casual South African traders. – Lily Jansen

🥈 Excellent!

As a new trader in South Africa, I found XS.com’s Cent Account an excellent place to start. Because of the low entry barrier and lack of a commission structure, I could study without incurring considerable financial risk. However, I wish more instructional resources were geared towards the South African market. – David Moller

🥉 Ideal.

As an intermediate trader, the XS.com Standard Account is ideal. It provides an excellent balance of benefits without requiring a large investment. More localized service and ZAR account options, on the other hand, I believe, would benefit South African traders like me. – Sarah Ferreira

XS.com Pros and Cons

Addendum/Disclosure:  No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

In Conclusion

In our experience, XS.com is an appealing option for South African traders, with various account kinds to fit different trading styles and degrees of experience.

Because of the high-leverage choices and access to a wide range of markets, it is an appealing platform for South African traders wishing to diversify their portfolios. Islamic accounts are a clever addition that caters to the demands of Muslim traders.

However, the lack of direct FSCA supervision and limited localized support may cause concern, especially for traders who value local inspection and help.  Furthermore, our findings show that the lack of ZAR-denominated accounts and the high minimum deposit necessary for premium accounts may be restricting considerations for some traders.

Overall, while XS.com provides robust trading alternatives and flexibility, South African traders should measure these advantages against the disadvantages of inadequate local assistance and regulatory control.

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Frequently Asked Questions

What account types does XS.com offer to South African traders?

XS.com offers several account types, including Cent, Standard, Micro, Elite, Pro, and VIP, each designed for a different level of trading experience and investment size.

Is there a minimum deposit required for XS.com accounts in South Africa?

Most XS.com accounts, including the Cent, Standard, and Micro, have no minimum deposit requirement, making them available to traders with variable capital availability

Can South African traders access Islamic accounts with XS.com?

Yes, XS.com provides Islamic Swap-Free accounts across all account categories, according to Shariah law and responding to the interests of South African Muslim traders.

Does the FSCA in South Africa regulate XS.com accounts?

No, while XS.com is subject to various foreign regulatory bodies, South Africa’s Financial Sector Conduct Authority (FSCA) does not directly supervise it.

Can South Africans open a ZAR account with XS.com?

No, South Africans cannot open a ZAR-denominated account with XS.com. The only account currency options available are USD, GBP, and EUR.

Does XS.com offer a demo account to South Africans?

Yes, XS.com offers an unlimited demo account to South Africans on the Standard, Elite, VIP, and Pro Accounts.