Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighXS Trades LTD, which holds client money, has no financial licence, and the five licences shown belong to sister XS companies that do not cover XSTrades accounts. Not 10, because each licence is attributed to its real holder.
Identity & transparency
5/10 · ModerateThe entity name and number have been consistent since 2023, and infrastructure ties the site to XS Group. However, the address is a registered-agent suite, no owners or managers are named, and XS Group's list of its companies leaves this one out.
Withdrawals & conduct
3/10 · LowNo fund-integrity complaints on any platform checked, and the one service complaint ended in a refund. The footprint is too thin for strong reassurance.
Reputation
4/10 · ModerateNo regulator warning names XSTrades. There is almost no independent public record: no Trustpilot page and a single user comment.
Website claims
7/10 · HighThe registers do not support the Group Licenses display or the claim that licensed XS companies operate under the XS Trades brand. The site also calls a Saint Vincent company registration authorized.
Operational history
5/10 · ModerateDomain from December 2021, company number dated 2023, broker pages archived from December 2023: about three years, with no inflated founding claim.
Who they are
A quick desk file on the company behind the brand.
- Brand: XSTrades
- Legal entity: XS Trades LTD, a Saint Vincent and the Grenadines business company, no. 26981 BC 2023
- Registered: Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines. This is a registered-agent address, and it appears only in the client agreement.
- Website: www.xstrades.com, with the client portal at my.xstrades.com. The site is in English, French, Spanish, Portuguese, Arabic and Persian.
- Only licence: none. The five licences on the site belong to XS Prime Ltd, XS Markets Ltd, XS Ltd, XS Finance Ltd and XS ZA (Pty) Ltd.
- Group link: it uses XS Fintech Ltd's MT4 and MT5 builds and names Ficupay Ltd (Cyprus), XS Group's payment agent, as an affiliate
- Offers: CFDs on forex, metals, indices, shares, energy, futures and crypto on MT4 and MT5. Account types are Cent, Standard, Pro and Elite, with leverage up to 1:2000.
- Not accepted: residents of the USA and North Korea. The XS.com brand also excludes Iran; XSTrades does not.
- Contact: email and live chat only, with no phone number or office address on the site
- Age claim: no founding year advertised. The company number is dated 2023 and the domain was registered on 22 December 2021.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
Australian Securities and Investments Commission (ASIC)
Cyprus Securities and Exchange Commission (CySEC)
Financial Services Authority of Seychelles (FSA)
Labuan Financial Services Authority (LFSA)
Financial Sector Conduct Authority (FSCA), South Africa
Saint Vincent and the Grenadines Financial Services Authority (company registration)
Why we reached this verdict
How the evidence adds up.
We rate XSTrades high risk because its clients deal with an unlicensed offshore company, while the website leans on licences that belong to other firms. Nothing we found shows deposits being taken and withheld.
- No licence for the company that holds your money. The client agreement names XS Trades Ltd (Saint Vincent business company no. 26981 BC 2023) as the counterparty that holds client money. It cites only Saint Vincent company law. Saint Vincent's FSA states that it does not issue licences for forex trading or brokerage and does not regulate business companies that carry it on.
- Other firms' licences on display. The Regulations page lists five XS-brand licences under the heading Group Licenses and says those companies are authorized to operate under the XS Trades brand. It links to no register entry, so we found the entries ourselves. CySEC approves only the trade name XS Markets and the domain xsmarkets.com for licence 412/22. ASIC lists xsprime.com for licence 374409. The Seychelles FSA lists xs.com for XS Ltd. None of these licences covers an XSTrades account.
- Registration presented as authorisation. The site says XS Trades LTD is registered and authorized under Saint Vincent law, and the agreement says it is authorised to provide investment services. In Saint Vincent, that only means the company exists. No authority supervises its trading business.
- A real group link, not a clone. xstrades.com shares its registrar and Cloudflare name servers with xs.com and distributes XS Fintech Ltd's MetaTrader installers. Its agreement names Ficupay Ltd (HE 433983) as an affiliate, and XS Group names Ficupay as the payment agent for its own companies. That rules out impersonation, but XS Group's public list of its companies leaves out XS Trades LTD.
- Persian-language funding channels. XSTrades runs a Persian site and a Persian Telegram channel that explains rial deposits through a local depositor. The XS.com brand does not serve Iranian residents. Money sent through these intermediaries has no regulatory protection.
- Thin record, no conduct red flags. There is no Trustpilot page and no forum thread. We found one user comment, about an $80 balance error that was refunded after five days. Neither IOSCO's I-SCAN nor the Saint Vincent FSA's alert list carries a warning. For a broker this small, finding no complaints proves little.
- Age is an upper bound. The domain was registered on 22 December 2021, the company number carries the year 2023, and broker pages appear in web archives from December 2023. Saint Vincent's public company list has no working search, so the operating company itself could not be dated. The track-record figure is therefore an upper bound.
- How the score adds up. Regulation 9 and identity 5 count double. Withdrawals score 3, reputation 4, website claims 7 and history 5. The weighted mean is 5.9, or 59%. No hard floor applies.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The client agreement names XS Trades Ltd as the counterparty that holds client money: a Saint Vincent business company, no. 26981 BC 2023, at Suite 305 Griffith Corporate Centre, Kingstown. It describes the company as authorised to provide investment services under Saint Vincent company law and cites no financial licence.
E2The Saint Vincent FSA states that 'the Authority does NOT issue licences for Forex trading or brokerage activities' and does not regulate or license business companies engaged in them. This is a general statement made in a notice about another firm.
E3The XSTrades Regulations page lists ASIC 374409, CySEC 412/22, FSA SD089, LFSA MB/21/0081 and FSCA 53199 under the heading Group Licenses. All five are held by other XS companies. The page states that those companies are duly authorized to operate under the XS Trades brand and trademarks, and it links to no register entry.
E4On the ASIC register, licence 374409 is current and held by XS PRIME LTD (formerly Acquacap Ltd and other names), commenced 13 September 2010, with principal website xsprime.com. The entry makes no reference to XS Trades or xstrades.com.
ModerateASIC Professional RegistersE5On the CySEC register, licence 412/22, dated 4 April 2022, belongs to XS Markets Ltd (ex RockFrost Ltd, HE 386563). Its only approved trade name is XS Markets and its only approved domain is www.xsmarkets.com, which contradicts the claim that the licensed companies operate under the XS Trades brand.
E6The FSA Seychelles securities dealer list shows XS LTD with website xs.com and email info@xs.com. Neither XS Trades LTD nor xstrades.com appears on the list.
E7The XSTrades client agreement names Ficupay Limited (HE433983, Limassol) as an affiliated entity of XS Trades Ltd that processes card transactions. XS Group's website names the same Ficupay Ltd as the payment agent of XS entities, which ties XSTrades to the group's payment chain.
E8The Cyprus companies registry lists FICUPAY LTD, HE 433983, as a private company registered on 6 May 2022 with status Registered.
E9The MT5 and MT4 desktop downloads on xstrades.com are XS Fintech Ltd installers hosted by MetaQuotes; the MT5 installer is the same one xs.com offers. XS Group describes XS Fintech Ltd as its technology arm.
E10Domain records show xstrades.com and xs.com with the same registrar (GoDaddy), the same pair of Cloudflare name servers and the same lock settings, which points to common management.
ModerateVerisign RDAP domain recordE11The name xstrades.com was registered on 22 December 2021. An archived copy from January 2014 shows an unrelated placeholder blog under a previous owner, so that earlier history does not belong to this broker.
E12XS Group's regulations page lists its companies and does not mention XS Trades LTD or xstrades.com. The group's own Saint Vincent company is a different one, XS Ltd, no. 27216 BC 2025. The page also says the XS brand does not serve residents of Iran.
ModerateXS Group regulations pageE13XSTrades runs a Persian-language site and the XSTrades Farsi Telegram channel (10 subscribers). The channel explains rial deposits through a Local Depositor option handled by IRPay. The site's restricted-country notice names only the USA and North Korea.
ModerateXSTrades Farsi Telegram channelE14IOSCO's cross-regulator alert network returns no warnings for xstrades or XS Trades.
ModerateIOSCO I-SCANE15The Saint Vincent FSA's investor alerts list other firms. None names XSTrades or XS Trades LTD.
E16Trustpilot has no review page for xstrades.com.
WeakTrustpilotE17A user comment dated 17 October 2024 on a Persian review site reports that $80 was taken from the account during a trade; support called it a system error and refunded it after five days. Two other Persian review pages for XSTrades carry no user comments.
E18Archived XSTrades pages from 1 December 2023 already name XS Trades LTD with Saint Vincent number 26981 BC 2023 and the same XS-brand authorisation sentence, so the identity has not changed since launch.
E19The contact page offers only an email address and live chat, with no phone number or office address. The only address, a registered-agent suite in Kingstown, appears in the client agreement.
E20All four account types advertise leverage of up to 1:2000.
The other side
The strongest case in this broker’s favour.
The strongest case for XSTrades is that it appears to be a genuine part of a large, multi-licensed group rather than a stand-alone operation.
- Its web infrastructure matches XS.com: the same registrar, the same Cloudflare name servers and the same XS Fintech Ltd MetaTrader builds.
- Its client agreement names Ficupay Ltd as an affiliate. Ficupay has been a registered Cyprus company since May 2022, and XS Group itself names it as the payment agent of its entities.
- The site names the real holder of every licence it shows, and no licence number is made up.
- No regulator warning names XSTrades, and we found no report of a refused withdrawal. The one complaint we found ended with a refund.
- The company name and number on the site have not changed since at least December 2023, and there is no sign of an earlier brand.
- Offshore companies that serve clients a group's licensed companies do not accept are common in this industry. That alone is not a sign of a scam.
What would change this
What we would need to see to revise the verdict.
Our view would move on concrete facts that anyone can check.
- The regulation risk would drop sharply if XS Trades LTD got a licence from a recognised regulator, or if XSTrades accounts moved to a licensed XS company.
- If XS Group listed XS Trades LTD and xstrades.com among its companies on xs.com, the ownership question would be settled in XSTrades' favour.
- A longer record of paid withdrawals on independent review platforms would lower the risk.
- Specific, independent reports of refused or stalled withdrawals, deleted profits, or fees demanded before payout would raise it.
- A regulator warning naming xstrades.com or XS Trades LTD would raise it significantly.
- If XS Group turned out not to stand behind XSTrades, showing the group's licences would become misuse of another company's identity.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
XSTrades regulations page
Names the SVG company behind XSTrades and lists licences held by other XS companies
XSTrades client agreement (PDF)
Names XS Trades Ltd in Kingstown as the company that holds client money
ASIC register: XS Prime Ltd, licence 374409
Shows the licence belongs to XS Prime Ltd, with website xsprime.com
CySEC register: XS Markets Ltd, licence 412/22
Approves only the trade name XS Markets and the domain xsmarkets.com
FSA Seychelles securities dealer list
XS LTD appears under the Securities Dealer tab with website xs.com; XSTrades does not appear
Saint Vincent FSA notice on forex licensing
The Authority states it issues no forex or brokerage licences; the notice itself concerns another firm
XS Group regulations page
XS Group's own list of its companies, which leaves out XS Trades LTD
IOSCO I-SCAN search for xstrades
Cross-regulator warning search; no match at the time of writing
Cyprus companies registry: Ficupay Ltd
Confirms the card processor named in the XSTrades agreement is a registered Cyprus company
Frequently asked questions
Quick answers about this broker’s safety.
Is XSTrades a scam?
XSTrades is not a confirmed scam. We found no regulator warning and no reports of withheld withdrawals, and its infrastructure is clearly tied to XS Group. It is still high risk, because the company that holds client money, XS Trades LTD in Saint Vincent and the Grenadines, has no financial licence.
Is XSTrades a fraud?
We found no evidence of fraud: no regulator warning, no enforcement action and no fraud-related court record naming XSTrades or XS Trades LTD. Our concern is regulation and transparency, not documented misconduct.
Is XSTrades regulated?
No. XS Trades LTD is a business company registered in Saint Vincent and the Grenadines, and the Financial Services Authority there says it does not license or regulate forex brokerage. The ASIC, CySEC, FSCA, Labuan and Seychelles licences on the website belong to other XS companies.
Do the ASIC and CySEC licences on the XSTrades website protect my account?
No. ASIC licence 374409 belongs to XS Prime Ltd, whose register entry lists xsprime.com. CySEC licence 412/22 belongs to XS Markets Ltd, whose only approved domain is xsmarkets.com. Your XSTrades contract is with XS Trades Ltd, which neither licence covers.
Is XSTrades part of XS.com?
The evidence points to a real link. xstrades.com shares XS.com's registrar and name servers, offers XS Fintech Ltd's MetaTrader builds, and names XS Group's Cyprus payment agent, Ficupay Ltd, as an affiliate. However, XS Group's own list of companies on xs.com does not mention XS Trades LTD or xstrades.com.
Is XSTrades a clone of XS.com?
We do not consider it a clone. A clone copies a brand without access to its systems, but XSTrades uses XS Group's own platform builds and payment agent. What it does do is display sister companies' licences that do not cover its own clients.
Who owns XSTrades and where is it based?
The operator is XS Trades LTD, registered in Saint Vincent and the Grenadines under number 26981 BC 2023, at a registered-agent address in Kingstown. The site does not name its owners or managers, and Saint Vincent does not publish them.
Can I withdraw my money from XSTrades?
We found no reports of refused withdrawals. The only user comment we found described an $80 balance deduction in October 2024 that support refunded after five days. The public record is very small, so test a withdrawal with a small amount first.
Is my money safe with XSTrades?
Your money sits with an unlicensed offshore company, so there is no regulator to complain to and no compensation scheme. The agreement promises segregated client accounts, but no authority checks that promise.
How old is XSTrades?
The domain xstrades.com was registered on 22 December 2021, the company number carries the year 2023, and broker pages appear in web archives from December 2023. That is roughly three years of operation we can verify. XSTrades does not advertise a founding year.
What does registration in Saint Vincent and the Grenadines mean for traders?
It means the company exists, not that anyone supervises it. Saint Vincent's FSA says it issues no licences for forex trading or brokerage. It also says companies offering forex must get a licence in the countries where their clients live.
How do clients fund XSTrades accounts?
According to the client agreement, card payments are processed by Ficupay Ltd in Cyprus. XSTrades' Persian Telegram channel explains rial deposits through a local depositor, and Persian review sites report crypto and Perfect Money for Iranian users. Payments made through such intermediaries are hard to recover if something goes wrong.
What should I check before depositing with XSTrades?
Check which company your contract is with and read the withdrawal terms in the client agreement. Then make a small test deposit and withdrawal before adding more. Keep records of every payment and support message.
What should I do if I have a problem with XSTrades?
Send a written complaint to support@xstrades.com and keep copies. No regulator supervises XS Trades LTD, but you may be able to dispute card payments through your card issuer; crypto transfers usually cannot be reversed. Be wary of anyone offering to recover your funds for an upfront fee.
What we recommend
The practical takeaway from everything above.
If you are considering XSTrades, treat it as an unregulated offshore broker and protect yourself accordingly.
- Read the client agreement. Your counterparty is XS Trades Ltd in Saint Vincent, not XS Prime, XS Markets or any other licensed XS company.
- Do not rely on the ASIC, CySEC, FSCA, Labuan or Seychelles licences shown on the site. They do not cover your account, so they give you no regulator to complain to and no compensation scheme.
- If you want a licensed counterparty, open your account directly with a licensed company. Check its exact name on the regulator's own register first.
- Start with a small deposit and make a test withdrawal before you add more money.
- Be careful with crypto deposits and local rial depositors. Once sent, those payments are hard or impossible to recover.
- Leverage of up to 1:2000 can wipe out an account in minutes, so use far less.
- Keep copies of your balance, deposits, withdrawal requests and every support message.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 27, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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