XS Markets Ltd

XS Markets Ltd, trading as XS.com, is a Cyprus-registered brokerage established in 2022 (formerly RockFrost Ltd). The firm is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under CIF licence number 412/22, with a licence since April 2022. The company is headquartered at 247, Franklinou Rousvelt, 1st floor, 1B, 3046 Limassol, Cyprus.

The broker presents itself as a global multi-asset provider, offering retail and professional clients access to forex and CFD trading. It operates under the XS Markets brand and serves both EU and non-EU clients, though the website contains disclaimers that it is not directed at EU or UK residents for certain sections, implying a split between regulated EU operations and offshore activities.

XS Markets Ltd holds a Cyprus Investment Firm (CIF) licence from CySEC, which permits it to offer retail and professional services across the European Economic Area under MiFID II passporting. The CySEC licence is active and listed in the public register with licence number 412/22, granted on 4 April 2022. This provides a baseline of regulatory oversight, including client fund segregation, negative balance protection, and access to the Investor Compensation Fund (ICF) for eligible clients.

However, the broker's website includes disclaimers that certain pages (e.g., for preferred accounts and dynamic leverage) are not directed at EU residents and fall outside the MiFID II framework. This suggests that the group operates both a regulated EU entity and potentially an offshore entity, with client terms varying by jurisdiction. Traders should verify which entity they are contracting with.

Clients can trade via the widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The broker offers both desktop and mobile versions. According to the website, XS supports a range of account types, including Cent, Micro, Standard, Elite, and Pro accounts. The Cent and Micro accounts are designed for beginners with no minimum deposit, while Standard accounts offer flexibility. Elite and Pro accounts cater to higher-volume traders with stricter requirements.

The broker also provides a copy trading solution, allowing less experienced clients to replicate trades of seasoned traders. For advanced traders, lot-based dynamic leverage up to 1:2000 is available on some account types, adjusting automatically based on open position size.

XS offers contracts for difference (CFDs) across multiple asset classes: forex, shares, spot indices, spot metals, and spot energies. The combined number of tradable instruments exceeds 140. The broker claims a True STP/ECN execution model, indicating that client orders are passed directly to liquidity providers without dealing desk intervention. Contract specifications, including spreads, margins, and trading hours, are available on the website.

The broker does not appear to offer physical share trading or cryptocurrency CFDs, based on public information. However, its product range is broad enough to suit diversified retail traders.

Funding options include bank wire transfer, credit/debit cards, and e-wallets such as Skrill, Neteller, and Mifinity. According to the help center, some account types have no minimum deposit, while Elite and Pro accounts require a minimum of 500 USD. Withdrawal fees are stated to be zero for most methods, and there is no inactivity fee. Third-party industry data suggests that the standard account EUR/USD spread averages around 1.1 pips, with an ECN account offering spreads as low as 0.1 pips plus a $3 commission per lot.

Traders should be aware that fees may vary by payment method and region, and currency conversion fees may apply. The broker does not charge for deposits, but third-party payment processors may impose their own fees.

Trading leveraged CFDs carries significant risk of loss. XS offers high leverage up to 1:2000, which can amplify both gains and losses. The FXCanary Scam Risk Score of 34/100 (Guarded) reflects a cautious assessment: while the broker is regulated by CySEC, the limited independent review history and the presence of disclaimers excluding EU residents from some products warrant vigilance. Traders are advised to read the broker's terms and conditions carefully, understand which entity they are dealing with, and ensure they are comfortable with the risk profile.

As of this writing, there are no user reviews available on independent platforms, making it difficult to gauge real-world client experiences. The broker's relatively short track record (since 2022) also means its operational history is limited.

The broker provides customer support via live chat and email, with stated availability of 24/5. The website includes a comprehensive help center covering account opening, types, funding, and platform issues. The company's registered phone number +357 25249600 is listed on industry databases. Support languages are not explicitly detailed on the site, but the website is available in multiple languages.