XS.com Comment: Guide to Choosing the Right Account Type for New Traders

comment on xs.com accounts

Xs.com broker did a great job in giving choices to every trader in choosing the most suitable account that would most closely align with your preferences and trading needs. The choice of account might, however, prove intimidating for those traders who don’t have enough experience or who are yet to come up with a refined trading strategy. Knowing which account aligns with your trading approach is essential. In this comment on xs.com account options, I aim to assist you in navigating this decision-making process.

CENT Account

For beginners.

No minimum deposit, high leverage, no commission.

Cent account provides real trading experience, which is priceless for new traders with no risk of significant funds. It is considered to be better than a demo account because trading is in a real trading environment and teaches you how to tame your emotions too, not only trading skills.

STANDARD Account

For new and intermediate traders.

No minimum deposit, high leverage, no commission.

As the name suggests, the Standard account is designed to be an excellent choice for a wide variety of strategies. If you aren’t quite sure what exactly your trading needs are, this might be the best fit for you. Trading costs are low, the instrument range is satisfactory, and execution is just great.

MICRO Account

For new traders and those who do not want to invest a lot.

There is no minimum deposit, leverage is high, and there are no commissions.

The Micro account is just like the Cent account in that it also allows trading with a minimum lot size of 1 Micro Lot = 1,000 units, suitable for beginners who would want to limit risks while taking experience. This type of account is in demand by professional traders, too, when testing strategies on a small scale.

ELITE Account

For established traders seeking the tightest spreads.

Minimum deposit $500; leverage 2000x; commission $3 per side per lot.

The Elite account offers direct market access, raw spreads, and deep liquidity. This will substantially improve the trading environment. The best it suits high-frequency traders or the strategies of intra-day trading. Both types are rather complicated, so you should choose this account only in cases when you know exactly what you want to achieve from your trading.

PRO Account

For professional traders who tend to focus on low-cost trading.

Minimum deposit $500; leverage 2000x; no commission.

The Pro account balances low-trading costs against attractive trading terms, mainly with respect to spreads. Consider it like an upgraded version of a Standard type of account. Sure, the requirement for the deposit amount is higher, but the trading conditions are better, too.

VIP Account

For premium service for high-volume traders.

$100,000 minimum deposit; 500x leverage; includes commissions.

The VIP account gives access to exclusive trading conditions, raw spreads for the minimum commission, and VIP customer service, too. I think the size of the initial deposit requirement is self-explanatory.

Moreover, we have to mention that xs.com has three different types of accounts with slightly different trading conditions for its special partners, namely: EXTRA account, CLASSIC account, and PLUS account.

The main difference is, of course, the percentage of rebate. The Plus account also offers raw spreads and higher rebates. The accounts are for affiliate partners, yet not limited to them. The term “XS Partners” is defined very widely and might be applied to a great number of traders who would be willing to provide additional services.

Whatever your trading style or level of experience, with XS you can get tailor-made solutions, flexibility, and the accommodation of trading styles and goals that are different. Although this process of selecting the right account according to your trading needs is hard if you are a new trader, know that experienced traders like to have options to select from. Hope this article will be helpful for new traders and useful for choosing the right XS account.