XLS Padlock Alternative: An Honest Comparison

Published: 2026-05-17   ·   Last reviewed: 2026-05-17   ·   By Noam Brand, founder, Excel Armor

XLS Padlock™ is a trademark of its respective owner. Excel Armor is not affiliated with, endorsed by, or sponsored by the makers of XLS Padlock. This page is an independent comparison published by Excel Armor for the purpose of identifying differences between the two products under nominative fair use. All statements about XLS Padlock on this page are based on the vendor's own public documentation as of the date above; if you spot a factual error, tell us and we will correct it.

Why people search for an XLS Padlock alternative

If you landed here, you probably already know what XLS Padlock does and you are evaluating whether something else fits better. The three most common reasons we hear from buyers who switch to Excel Armor:

1. They want to keep distributing a real Excel file, not an EXE, because their customers expect to open it in Excel and use it like any other add-in.
2. They want compiled, obfuscated code in the shipping artifact - not VBA-inside-a-wrapper.
3. They want code signing scaffolding and licensing hooks that live alongside the protection, not as a separate add-on.

None of this makes XLS Padlock a bad product. It makes it a different product. The honest answer to "which is better" is "which problem do you actually have."

Side-by-side comparison

When XLS Padlock is the right choice

We will tell you this honestly because it matters: XLS Padlock is a solid product and there are situations where it fits better than Excel Armor.

• You ship to customers who do not need to integrate your workbook into their own Excel workflows - it is a closed tool, not an add-in.
• You want standalone-EXE distribution so the user does not need to know they are running Excel underneath.
• Your customer base is Windows-only and EXE distribution is acceptable to them (some IT departments block unsigned EXEs more aggressively than they block XLLs).
• You are not interested in moving any logic out of VBA.

When Excel Armor is the right choice

The wedge is straightforward:

• You sell an Excel add-in, not a standalone application, and your buyers expect to keep their existing Excel environment.
• You want the shipped artifact to contain compiled code, not encrypted VBA. Once VBA is converted to .NET IL and obfuscated, the original source is gone.
• You want a path to code signing that uses the standard Windows Authenticode tooling on a normal MSBuild output.
• You want licensing hooks and protection in the same product, configured once.

What neither tool does

Both vendors will tell you the truth on this, and so will we: no protection product makes determined reverse-engineering impossible. What good protection does is raise the cost of reverse-engineering past the point where it is rational for the attacker. A wrapper or an obfuscated XLL both achieve that against the realistic threat model for most Excel developers (resold workbooks, code lifted by departing employees, customers extracting your formulas). Neither will stop a well-resourced adversary willing to spend weeks on IL deobfuscation.

If a vendor in this space claims "uncrackable," that is the signal to walk away. See our deeper write-up on what VBA protection can and cannot do.

How to decide in 60 seconds

Answer this one question: does your customer expect to receive an Excel file, or a Windows program that happens to use Excel?

• "Excel file" → Excel Armor fits the distribution model better.
• "Windows program" → XLS Padlock fits the distribution model better.

Related reading

• Can VBA really be protected? What works, what does not, and why
• Why the built-in VBA password is not protection
• Excel Armor features overview
• Pricing & founding launch offer

How we made this comparison

Every row in the comparison table above is based on the vendor's public documentation as of 2026-05-17. We have not run an internal benchmark of XLS Padlock against Excel Armor; the table describes documented architectural differences, not measured performance.

• Sources: the official XLS Padlock website, the vendor's published feature pages, and publicly accessible community discussion threads (MrExcel, Excel Forum, Chandoo).
• What we deliberately do not claim: that one product is "better" than the other, that either product is uncrackable, or that either product is unsuitable for any specific buyer. We describe what each product does and let you decide.
• Trademarks: XLS Padlock™ and any other vendor names referenced on this page are trademarks of their respective owners. References are nominative - for identification and comparison only.
• Conflict of interest: Excel Armor is the publisher of this page and has an obvious commercial interest in your conclusion. We have tried to write this in a way that would be defensible if a representative of XLS Padlock read it. If we have failed at that anywhere, please tell us.
• Updates: we re-review this page on the same date it was last reviewed (shown at the top). If you are reading this more than six months after that date, treat specifics as potentially stale and verify against the current vendor sites.

Independent comparison published by Excel Armor. Not affiliated with XLS Padlock or its owner. Factual corrections welcome at /contact. This page is provided for informational purposes only and does not constitute legal, technical, or purchasing advice.