XS Plus Review

About XS Plus

XS Plus (operating as HONGKONG XIN SHENG JIN YE GROUP COMPANY LIMITED), headquartered at Block F, 10th Floor, Comfort Building, 88 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong, claims to be regulated by the Chinese Gold and Silver Exchange Society (CGSE) with license number 081 and by the Cyprus Securities and Exchange Commission (CySEC) under license number 299/16 —but CGSE is an industry association, not a governmental regulator, and the CySEC license 299/16 belongs to Magic Compass Ltd., which operates under a different domain (www.magiccompass.com), indicating that XS Plus is not genuinely regulated and may be a clone firm providing false licensing information ().

Regulatory authorities have not recognized XS Plus as licensed or lawful. Specifically, there is no valid forex or financial services regulation for XS Plus. This absence of legitimate oversight carries substantial risks to client funds and data, as there is no legal protection, segregated accounts, or dispute resolution frameworks available (). Moreover, reports from users document issues including delayed or denied withdrawals, account blocking, and inconsistent communication ().

Pros and cons

Pros

• Provides claims of multiple asset classes via CFDs and forex (as stated by the firm) ().

Cons

• Entirely unregulated; claims of regulation are misleading or false ().
• Potential clone of a legitimate CySEC-regulated firm (Magic Compass Ltd.) with mismatched domain and licensing information ().
• Numerous user-reported withdrawal issues and account blocks, sometimes linked to profit withdrawals ().