Read our full XTB review below.
WHAT IS XTB?
Found in 2002, XTB is a respectable forex and CFD brokerage firm with its headquarters located in Poland. This online broker is regulated by the FCA, KNF, CySEC, and IFSC
At XTB, clients can trade a range of trading instruments, such as Forex, Indices, Commodities, Stock CFDs, ETF CFDs, and Crypto.
The broker also offers a variety of trading platforms to its traders, including xStation 5, xStation Mobile, and MT4.
XTB is easily one of the largest stockbrokers on the planet, with over 15 years of experience with exchange listed CFD and FX options. Investors who bank with XTB can use CFD, forex, or cryptocurrency to make trades.
Headquartered in London and Warsaw, XTB is available in over 13 different countries. With over 140,000 clients and thousands of global markets available, it is a massive conglomerate of trade platforms and instruments available to everybody.
Below, you will find a full review of XTB to determine whether this broker is a legitimate and safe option for investors.
QUICK REVIEW: THE FACTS
Headquartered in the UK and in Poland, XTB is widely available to traders across Europe and other parts of the globe. There is a wide range of services and products offered by this broker, which can make it an easy pick for certain investors.
However, there is a multitude of facets to consider. A quick review of the biggest advantages – and disadvantages – of XTB can help guide buyers toward the right choice. Before going into the further review, take a look at the pros and cons.
PROS & CONS
- Easy deposits and withdrawals
- Protection against negative balances
- FCA regulations
- Award-winning trading platforms
- Low fees for CFDs and forex trades
- Tons of educational material available
- Easy account registration and access
- Not a lot of products available aside from FX and CFD
- No banking licenses
- High fees for stock CFDs
- Little to no email support
Saxo bank Forex Broker Review
Like most large-scale brokers, XTB is heavily regulated by financial authorities across the globe. The Financial Conduct Authority of the UK and the Polish Financial Supervision Authority are two of the regulating bodies governing XTB and all its operations.
The company is passionate about providing excellent customer service through an incredible range of trading tools and educational resources. XTB has won several awards for its trading platform as it continues to grow into one of the largest brokers on the planet.
Those looking to trade CFD, FX, or Crypto will find plenty of options available through this bank. In addition to the standard products provided by the broker, XTB has a variety of unique features as well.
WHAT XTB PROVIDES
There are several factors that set XTB apart from other large-scale brokers and banks. The commitment to customer service, the always-available educational materials, and the award-winning customizable trading platform make XTB stand out from the rest.
Additional unique features include:
There is an open-door policy when it comes to customer service; investors can visit XTB headquarters and view live strategies while participating in market discussions.
Constant education is available through the online Trading Academy, Trader’s Library, Day Training Guide, and more.
The award-winning xStation5 is a customizable platform that can optimize the trading experience.
There is an available Mobile Trading Alert service where clients can access news from the broker’s Chief Market Analyst, David Cheetham.
These are all individual features that are offered on the XTB platform in ways that are largely unavailable through almost any other platform. This makes XTB a premier choice for investors both big and small.
While an award-winning company with plenty of educational resources and easy account access, XTB might not be the right choice for an investor who is looking to use more than FX and CFD. A further look at XTB’s available trading platforms, instruments, and fees can help both beginner and expert traders make an informed decision.
XTB ACCOUNT TYPES
Currently, XTB offers three different available account types, with two of them being globally available. Investors from anywhere in the world can choose between the standard or the pro account, which both come with their own set of features and benefits. Investors in the Middle East also have the option to sign up for an Islamic account, which may come with some associated fees.
A further breakdown of account types is below.
Standard XTB Account
This is an average market account and the most popular account type with XTB. All of the available instruments can be found through a standard account, with free account setup and management.
You can access both the PC and smartphone version of your account at any time. Access automated trading, thousands of indices, and tight spreads. Trade with a minimum order of 0.01 and minimum leverage of 1:500.
A couple of drawbacks of the standard account include no cash stocks and no commissions on cryptocurrencies.
Pro XTB Account
The professional version of the XTB account includes all the features of the standard account plus more. You can get a commission on cryptocurrencies starting at $3.50, and commissions on Forex and indices starting at $3.50 per lot.
Account setup is free, but there is a paid subscription to continue accessing the pro bonuses. You can stay in touch with XTB team members and tap into the free educational resources to help you make your best trades.
Islamic XTB Account
There is an Islamic account available for those looking to trade in the Middle East. Investors with this account type can access almost all of the same benefits and features as the other accounts, but there are higher commissions on stock CFDs, Forex, and indices. Most commissions start at $10 per lot with a minimum spread of 0.7.
HOW TO OPEN AN ACCOUNT WITH XTB
Opening an account with XTB is simple and free. You must apply through the Varianese Electronic Trading review, which is a quick process that requires you to provide some proof of identity and residency.
You will be asked to provide information such as:
- Which account type, trading platform, and the base currency you will be using
- Email address
- Country of residency
- Proof of employment status and financial state
- Date of birth
- Residential address
- Proof of identity, such as a copy of your ID and a bank statement
XTB will accept scanned versions of ID cards or passports as well as utility bills so you can verify your identity and addr
If you are hesitant about opening an account with XTB right away, you can create a demo account and test out the system before you make a commitment.
MAKING A DEMO ACCOUNT
This broker will allow you to access hundreds of their features, tools, and instruments in a virtual setting. While you will not be able to deal with real money, you will be given $100,000 of virtual funds that you can play around with while you get a handle on the system.
Demo accounts let you access tight spreads, thousands of markets and instruments, and risk-free trading samples so you can get on the right track. Investors who start with a demo account get immediate access to 24/7 customer support in case of any questions or concerns.
IS COPY TRADING AVAILABLE?
XTB currently does not offer copy trading. This is also known as social trading. Unfortunately, you cannot copy market positions from other individuals on your own platform.
There are hundreds of trading instruments available through XTB. In fact, there are more than 1,500 available instruments for individuals or companies to use. Let us look at some of the most popular and useful instruments available on this platform.
XTB is a leader in cryptocurrency trading. Without any market heavily saturated in cryptocurrency, you may find this instrument to be a source of untapped profit. XTB will let you trade with Bitcoin, Ethereum, Dash, Ripple Stellar, and more. The market is open 24/7 – even on weekends. You can connect through your mobile app and get competitive spreads without putting your cryptocurrency at risk of being lost to hackers.
Like almost all large-scale trading platforms on the market, XTB is wise to offer Forex trading. There are ultra-low spreads that start at just 0.1 pip, and over 48 currency pairs available. Another benefit of Forex trading through XTB is that there is no minimum deposit requirement, and you can count on quick withdrawals and deposits.
Get ETF CFDs with a super low commission rate, starting at only 0.08%. Execution is fast, allowing you to diversify your portfolio with ease. XTB offers a CFD leverage up to 1:10, amplifying your trading experience. Choose from over 60 ETF CFDs to start trading.
With XTB, you can trade CFDs with more than 1,500 equities available. Long and short sales are both an option with stocks, and the low commission rates start at just 0.08%. XTB’s trading platform makes it super easy to trade stocks and stay on point with a leverage of up to 1:10.
You can trade ever-popular commodities like oil, gold, and silver. XTB always has availability on its platform for trading commodities with a leverage of up to 500:1. You can trade your commodities 24/7 as these markets never rest. XTB allows investors to access commodity trading through the computer, tablet, or smartphone app.
Investors who make an account with XTB will have access to over 20 global indices from around the world, including many countries in Europe, the USA, and China. Short and long sales are available without any overnight costs or extra fees. Access indies from your phone and download an app for each different index you are trading on so you can sell on the go.
TRADING PLATFORMS AVAILABLE WITH XTB
XTB has its own platform known as xStation5, which offers a dynamic range of tools and services for professional investors. Beginners can sign up with xStation5 or make use of MetaTrader4, which is a globally recognized platform.
A deeper look between the two trading platforms will give insight for investors who are trying to choose between these powerful tools.
The fast, powerful, and user-friendly platform is designed for professional traders, but it is easy for beginners to get the hang of as well. Not to mention, it is customizable so individual investors can rearrange their tools as they see fit. Those who are seasoned veterans love xStation5 as much as investors who are still green to the market.
It is an award-winning platform that is known for its ease of use and ultra-fast speeds, executing trades in real-time. There is data fed directly into the platform, so you are always up to date on the percentages and statistics that are important to you.
There are several features that set xStation5 apart from other platforms in the industry. With over 4000 instruments to choose from, a user-friendly design, and access to constant statistics and education, it is a platform that evolves with its users.
This platform also comes with a mobile app known as xStation Mobile. You can access CFD markets, indices, EFTs, and more with the mobile app, with trading right at your fingertips.
Meta Trader 4
Meta Trader 4, also known as MT4, is an incredibly popular platform used by many major brokers and investors around the globe. A lot of people who are familiar with trading but unfamiliar with XTB might want to start out using MT4 to navigate all their trades.
XTB offers a seamless transition between MT4 and xStation5. Both platforms have mobile apps and both platforms allow for many of the same services, making it easy to switch between the two.
There are benefits that MT4 carries on its own, however. For example, MT4 has a patented pattern recognition program that will identify trends fast, helping you take advantage of the market when it is good. There is also a strategy test tool, allowing you to test out certain things before you commit to a trade. You can even reach out to professionals for some help with your problems.
XTB WITHDRAWALS AND DEPOSITS
There are some initial deposits you must make into your account before you can start trading. Typically, this will equate to USD 250, EUR 250, or 250 of your chosen currency. After you make the first deposit, you aren’t required to make any more deposits of a certain size.
It might be a good idea to withdraw funds from an account that uses the same currency as your bank; if not, it will be converted automatically, and it may slow down your ability to receive payment.
Some deposits do not come with charges or fees; others, such as e-wallet deposits, may have a small charge. Below, you will see an in-depth review of the different ways investors can deposit and withdraw funds through their XTB accounts.
XTB makes it simple to deposit funds into your account. Simply log in and click on “deposits”, and then select your payment method. You can use any of the following methods:
- Credit Card – A credit card transfer is available in USD only. It is free of charge; the past fees have been removed.
- Bank Transfer– The most popular and direct way to make deposits, you can deposit USD from a bank account into an account. While XTB does not provide additional charges for this, the individual bank may.
- e-Wallet – You can deposit through an e-Wallet platform such as Paysafe (Skrill), Neteller, or SafetyPay. Some of these third-party payment platforms may add an additional fee between 1% – 1.5%, so bear that in mind.
Investors can access their trading accounts to make withdrawals. Everything is accessible via the Client Office on the platform. Most withdrawal processes take less than 24 hours, but they can be stalled for a few days depending on the bank and currency being used.
Some banks may charge extra commissions for withdrawals. For example, withdrawing less than $50 into a USD account will incur a commission charge of $30.
MONEY PROTECTION GUARANTEE
XTB offers a money protection promise to keep your funds secure and always regulated. They are regulated by the IFSC of Belize and other financial institutions, and it is important for XTB to continue in strict compliance with these authorities. Your funds will always be held in a segregated account.
XTB LEVERAGE RATIOS
Like most large-scale platforms, XTB allows for leverage. This gives individual investors access to more market exposure without having to put down a huge deposit. Leverage can grant higher returns on investment. But this can also lead to higher losses if the market takes a turn for the worst.
XTB leverage in the EU is 1:30. Outside of the EU, investors can see up to 1:200 leverage with Forex and crypto CFD trades.
COMMISSIONS AND FEES ASSOCIATED WITH XTB
The commission and fee structure work a little differently with XTB than it does with other brokers and platforms. The commissions you pay depend on the type of account that you have. The smaller the account type, the fewer fees you must pay. Let us look at this in greater detail:
Standard Account Fees
The standard account is a commission-free account. Fees are included in the spread, so you do not have to pay anything extra on top. You will not have to pay commissions unless you upgrade to a professional account.
Professional Account Fees
Professional accounts offer tighter spreads but additional fees. For example, tighter currency pairs come with an extra charge of $3.50 per lot on any cryptocurrency or Forex trade.
Plus Service Level
There are XTB Plus service levels on a minimum of 10 lots. This requires a minimum deposit of 100 EUR. The VIP service level requires a minimum of 100 lots traded with a deposit of at least 25,000 EUR.
EDUCATION AVAILABLE WITH XTB
Beginners and veterans alike will both find the education available through XTB to be extremely helpful. There is excellent material available for those who are just starting out. From there, investors can branch out into a multitude of available topics including stocks, forex trading, commissions, and leverages.
One-on-one mentoring and 24/7 customer service chats are always available as well. XTB prides itself on always having an unlimited amount of education available and accessible across the world.
There is an unlimited inventory of user-friendly research tools available through XTB. Investors can find them on XTB’s own website or through the xStation5 platform once they have made an account.
XTB research is available in multiple languages and formats. Experts will even provide new ideas to help account holders make the right trading decisions in the long run.
Automated tools include the stock scanner, market sentiment, and ETF scanner features, which help investors find good deals and popular trades that they will not want to miss out on.
XTB CUSTOMER SERVICE
Customer service is a primary focus of the professionals at XTB, and because of this, they offer exceptional 24/7 access. Clients can build relationships with the experts and get real education and market updates in a mutually beneficial environment.
Every XTB client is assigned their own personal manager, which can help them with their account and can answer trading questions all day long. XTB aims to provide a customizable service so investors all around the world can get exactly what they need out of the trading game.
Some customer services are available 24 hours a day, 7 days a week, while others are available 24 hours a day during the weekdays. There is a great library of research and tools that investors can access whenever they want.
Unlike other brokers, XTB offers a cashback program that gives people real money rewards the more they trade. Terms and conditions may change after a period, but there is always a cashback offer to take advantage of for every trade.
HAS XTB WON ANY GLOBAL AWARDS?
XTB has won several awards over the 15 years of its existence. These awards include:
- Best CFD Broker 2017 – FinTech Awards
- Best CFD Broker 2018 – Wealth and Finance Awards
- Highest Rated FX & CFD Broker 2018 – Wealth and Finance Awards
- Praise by Forbes
- Praise by Bloomberg
The XTB broker website often runs contests and trading competitions which can earn investors their own rewards.
XTB: SAFE OR SCAM?
XTB is one of the safest and largest brokers on the globe. It is regulated by a handful of international financial authorities and regulating bodies, including:
- Cyprus Securities and Exchange Commission
- UK’s Financial Conduct Authority
- Polish Financial Supervision Authority
- International Financial Services Commission of Belize
Other entities of XTB include XTB Limited and X-trade Brokers Dom Maklerski SA. They are both regulated by financial entities as well, but their safety and security levels may differ.
In addition to these regulations, XTB also promises balance protection for clients who are trading in CFD and Forex. Unfortunately, there is no negative balance coverage for non-EU clients.
FINAL THOUGHTS: IS XTB A GOOD RECOMMENDATION?
XTB is one of the most popular brokers in the world, specializing in CFD and forex trading opportunities. Investors who are looking to start out will find a wide availability of educational materials and resources to help them get started. The xStation5 platform is an innovative tool with dynamic services to help everyone personalize their trading experience.
It is regulated by multiple financial authorities to keep it up to date with securities and protections. XTB is a highly recommended trading platform for novices and experts alike; despite some of the commission fees and a limited product portfolio, most clients find XTB to be a five-star company.