In this exclusive interview with FxMag, we sit down with Wael Hammad, the Group Chief Commercial Officer of XS.com, acclaimed as the Broker of the Year for 2023. As we look towards 2024, the question arises: How can XS.com continue to raise the bar? Join us as we discover XS.com's strategic plans for redefining excellence in the financial world.
- Interviewer: Wael, how has XS.com strategically approached global expansion since its inception?
Wael Hammad: Since our inception in Australia in 2010, XS.com's journey has been one of dynamic growth and strategic transformation. Actively participating in international events and hosting seminars worldwide, including in Egypt, UAE, South Africa, Jordan, Philippines, Vietnam, Thailand, Mexico, and Bahrain, has not only been a part of our strategy but also the essence of it. These meetings serve as invaluable platforms for fostering meaningful connections with local traders and partners, contributing significantly to our global approach. By swiftly adapting to diverse markets and trends, XS.com positions itself at the forefront of the ever-evolving online trading landscape, ensuring that our brand resonates globally.
- Interviewer: XS.com has acquired many licenses. How do these licenses enhance XS.com's credibility, and what is the strategic significance behind obtaining licenses from diverse regulatory bodies?
Wael Hammad: Acquiring licenses is not merely a procedural step for XS.com; it's imperative that we reinforce our commitment to being a credible and transparent brokerage. Each license obtained from reputable regulatory bodies, including CySEC, FCSA, ASIC, FSA, and Labuan IBFC, carries immense strategic significance. This proactive approach ensures compliance with specific regional regulations, laying a solid foundation of trust with our clients. It's not just about meeting legal requirements; we are purposefully positioning XS.com as a reliable and compliant broker, poised to navigate and excel in diverse markets. This commitment showcases our dedication to maintaining the highest industry standards and places us tactically as a trusted partner in the ever-evolving world of online trading. In doing so, we aim to be at the forefront of industry advancements, delivering unparalleled value to our clients.
- Interviewer: XS.com offers a variety of account types. How does this broad range, contribute to a diverse global audience?
Wael Hammad: Our diverse range of account types is not merely a menu; it's a strategic initiative aimed at providing tailored solutions for a diverse global audience. Pro Elite and VIP accounts cater to experienced traders, offering exclusive features and personalized services, ensuring that seasoned professionals have the tools they need for sophisticated trading strategies. Simultaneously, Cent, Standard, and Micro accounts strategically accommodate entry-level traders, ensuring inclusivity and accessibility. This approach positions XS.com strategically, not just as a broker but as a financial partner, offering a personalized and comprehensive trading experience that resonates with traders across different levels of expertise and preferences. By consistently innovating and expanding our account offerings, we seek to address the nuanced needs of our global audience, fostering a trading environment that adapts to the evolving landscape of the financial markets. Additionally, our commitment to customer support and advanced trading tools complement our account types, providing a holistic support system that empowers traders to grow and succeed in their financial journey. This dedication underscores XS.com's commitment to being a dynamic and inclusive force in the online trading industry.
- Interviewer: XS.com ensures the security of client funds. Can you elaborate on the importance of such security measures, exemplifying XS.com's commitment to safeguarding client assets?
Wael Hammad: At XS.com, the commitment to securing client funds goes beyond regulatory requirements; it is a strategic imperative that defines our core values. For example, our $5 million insurance coverage is not just a safety net but a symbol of our unwavering dedication to mitigating risks and instilling confidence in our clients. In an industry where trust is paramount, our strategic approach to financial security sets us apart, reinforcing our vision for a trading environment characterized by reliability and trustworthiness.
Our focus on client fund security aligns seamlessly with our broader mission of providing more than just a transactional platform. It is a cornerstone in our effort to build enduring partnerships based on trust and mutual growth. XS.com envisions a future where clients not only transact securely but also thrive in a trading environment characterized by transparency, dependability, and a strategic commitment to safeguarding their financial assets.
- Interviewer: XS.com has introduced innovative products like the XS Mastercard and dynamic leverage. Can you share the thinking behind these product developments and how they align with XS.com's vision for the future of online trading?
Wael Hammad: Our product developments, including the XS Mastercard and dynamic leverage, go beyond being mere features; they embody a visionary approach for the future of online trading. The XS Mastercard facilitates seamless fund transfers and transaction tracking, aligning perfectly with our commitment to user-friendly services. Meanwhile, dynamic leverage reflects a vision for capital efficiency, empowering traders to optimize their resources across multiple asset classes. These innovations position XS.com as a pioneer, shaping the future of online trading by providing cutting-edge solutions that meet the evolving needs of our traders. Our vision for continuous industry advancement is showcased through these innovations, setting a benchmark for the future landscape of online trading.
In closing, Wael Hammad's insights highlight XS.com's robust strategies, from global expansion to pioneering product developments, showcasing a commitment to excellence through diverse licenses and unwavering dedication to fund security. As XS.com steps into 2024, it remains poised for new goals and innovative initiatives, shaping the future of online trading with a steadfast focus on redefining industry standards.
