What’s the first thing that you are thinking about if you want to start your journey with trading? Chances are high that safety is among the top factors you are considering when deciding whether starting to trade is a good idea. If that sounds like you, we must congratulate you, as you have taken a proactive approach, which increases the chances of staying safe. Trading is increasing in popularity, especially since many people from countries worldwide are dealing with high inflation and currency devaluation, which is making them search for more ways to preserve the value of their money.
Innocent people have understood the power of trading, but also cybercriminals, who are using trading as a way to steal money. So, you were right to have worries when trading. This means that you need to pay attention to the security of the platform you decide to begin your journey on. So, let’s start by offering you a helping hand, so that you can choose the right platform. We can start by taking a look at the leader in trading, represented by the XS forex broker.
Is XS indeed a safe broker, or only a scam in disguise? Let’s delve right into this topic.
XS Ltd (XS.com) Overview
If we were to go on a past journey in 2010, in Australia, we could witness the initial steps of the XS CFD broker in the adventure of becoming a worldwide leader.
Now, XS has the title of a Global Multi-Asset Broker after receiving reward after reward. Like all paths towards success, its journey wasn’t always linear. As it shouldn’t, as the top businesses are the ones that have known how to adapt and constantly improve themselves. The good news is that XS is part of this category.
XS wants to help traders in their journey by unlocking their full potential. This is not done by guaranteeing 100% of success all of a sudden, but by offering the notions traders need. This is the best way to ensure that users are prepared to navigate volatility and whatever the trading space might throw their way.
XS is also committed to always improving its services and helping traders of all levels achieve financial empowerment.
XS Safety & Regulation
When making a division between XS as a scam or a trustworthy broker, we must pay attention to the safety features of this platform.
This is the area that will tell the most whether we are dealing with something real or fake. And XS excels in this category, as it has adopted various practices that offer safe solutions. Here are some of them.
Insurance
The insurance offered by the Civil Liability Insurance Program given by XS proves that this platform is not a scam. Otherwise, why would it give something to users in case they are dealing with errors, scams, negligence, or fraud? Yes, you read that well, as if you are the victim of one of the above scenarios, you need to know that you can get back the money you lost. This offers high protection and is a green flag, showing that XS is a safe broker and not a scam.
Keeping the company funds in segregated accounts
To ensure nothing bad occurs, the company’s funds must be kept in segregated accounts. You might be wondering why this is the case. Well, there were many situations when big companies have been hacked. And to prevent the money of customers from being lost forever, they are better off being more proactive by keeping accounts separate.
As XS has claimed to be reputable and the broker leader, it must adopt this approach to be able to remain at the top. Otherwise, the downfall might be imminent, as a data breach or other hacks can compromise its reputation forever.
Having various regulations
For a company to demonstrate its fairness, it must have regulations from financial authorities. And XS is offering this status, especially since it has jurisdictions in plenty of parts around the world. Here are a few of the financial authorities overseeing XS’s activities.
- The Financial Services Authority of Seychelles
- The Australian Securities and Investments Commission (ASIC)
- The Cyprus Securities and Exchange Commission (CySEC)
- The Financial Services Authority of Labuan (LFSA)
- The Financial Sector Conduct Authority (FSCA)
- The Financial Services Commission of Mauritius (FSC)
- The Securities and Commodities Authority (SCA)
- The regulatory authorities from the State of Kuwait.
Advanced security standards
To be able to meet advanced security standards, XS needs the right infrastructure. As a result, it has sought ways to achieve this via various sources, including employing advanced security infrastructure and other robust protocols. In this way, the information and funds of users remain safe.
XS understands the importance of data protection, especially created to keep scams and other dangers at bay. If the XS team notices some dangers in the online payment activities, they do what it takes to protect the assets of users and respond promptly before the danger turns into something bigger.
Also, hackers can be after the accounts of users from XS. But to ensure that XS comes in their way, this company has set in place strong password requirements, which follow a length criterion, to include more complexity. Changes in the personal information must also occur after the verification that the person in charge is indeed the one who has initiated this action.
XS.com as a multi-asset broker
XS is a multi-asset broker that allows traders to have access to various assets. This is a great advantage, as it provides the possibility of diversification. Diversification is important in trading, as in this way, you can reduce risks. Why? Because you don’t have all the funds in one asset, this means that if one is not performing the way you envision, the other might. So, in moments of financial uncertainty, things can return to your favor.
Additionally, in this way, you can better discover the trading strategy that works best for you. The asset classes you can choose from on XS involve shares, indices, forex, metals, futures, energy, and crypto. Each of them comes with its own unique perks and challenges, so you must understand how they work, and then the choice of your solution will come naturally.
XS’s resources
Understanding all the ins and outs of the trading market is not the easiest path, and it comes after spending much time researching the market. However, XS has set its mission to increase the speed of this journey, using various tools. In this way, users will truly have what they need for a great experience. Plus, as a beginner, it is normal to deal with some errors. Unfortunately, they will impact the results of your trades.
But with the help of the XS AI Insights, you have the right helper by your side, which is meant to aid you in making more informed decisions. AI Insights is a yes if you are looking for hidden growth opportunities in trading, better identification of entry and exit points, and removing the chances of costly mistakes. Especially for beginners, AI Insights can truly be what sets their trades towards a more successful journey.
Other than this, you might think that you would need to spend a huge amount of money to enhance your information about trading. Well, you might if you weren’t to consider XS.
At XS, you can access a variety of completely free courses. The topic spans numerous important subjects in trading, including risk management, technical analysis, market fundamentals, and trading psychology. And for a course that is 100% free, the value of the notions you will get is worth it.
What about XS complaints?
If you have an XS complaint, you can address it directly with this company and let them find ways to resolve your problem. You can send the complaint via email, in which case you will need to describe the entire problem. Don’t forget to include relevant information, such as the order and account numbers, along with a detailed explanation of the issue encountered.
Even though XS comments are usually positive, each person’s experience is unique, and it is good that XS provides something to help if you ever need it.
Is XS a safe broker?
Yes, XS is a safe and reliable broker, not a scam, as shown by the title XS has achieved as a leader in trading. The safety features that XS has considered also make it continue to represent a secure solution. Additionally, XS has won numerous awards over the years, which attest to the reliability of this platform.
