XTB Review |
|
| 📅 Year founded |
2002 |
| 📈 Multiple top-tier regulation |
Yes |
| 📍 Headquarters |
Warsaw, Poland / London, United Kingdom |
| 🌍 Country of regulation |
United Arab Emirates / South Africa / Poland / Belize / United Kingdom / Spain / Cyprus |
| ✅ Regulators |
DFSA / FSCA / KNF / FSC / FCA / CNMV / CySec |
| 📈 Execution Type |
Market Execution |
| 💰 Minimum Deposit |
No |
| 🛡️ Negative Balance Protection |
No |
| 📉 Trading Platforms |
MetaTrader4 / xStation 5 / xStation Mobile |
| ☪ Islamic account |
Yes |
| 📉 Trading Instruments |
CFDs on Forex / CFDs on Indices / CFDs on Commodities / Stocks / ETFs / CFDs on Cryptocurrencies / Investment Plans |
| 📱 Mobile trading |
iOS / Android / Windows |
| 💳 Payment Types Accepted |
Credit and Debit Cards / Bank Transfer / Neteller / Skrill |
| 🎮 Demo Account |
Yes |
| ⓒ Copy Trading |
No |
| 🎁 Bonus Offer |
Cashback Scheme |
| 💰 Account Currencies |
USD |
| 📈 Minimum Trade |
0.01 Lots |
| 📈 Account Types |
PAMM / MAM |
| 📈 Margin Trading |
Yes |
| 📈 Trading fees |
Low |
| 📈 Inactivity fee |
After 12 consecutive months |
| 💰 Withdrawal fee |
In some cases |
| ☎ Customer Support |
24/5 |
| 💰 Max. Leverage |
500:1 |
| ✔️ Hedging Allowed |
Yes |
| ✔️ Scalping Allowed |
Yes |
| 💰 Commission |
Built into spread |
| 💰 Spreads |
From 0.5 pips |
| 💰 Leverage |
Flexible |
| 💰 Currency Pairs (Total Forex pairs) |
48 |
| 🔢 Number of clients |
847 000 + |
| 🥇 Instruments Offered |
5 600 + |
| 📙 Education |
Webinars / Courses / Videos |
WHAT IS XTB?
Found in 2002, XTB is a respectable forex and CFD brokerage firm with its headquarters located in Poland and the United Kingdom. This online broker is regulated by the DFSA, FSCA, KNF, FSC, FCA, CNMV and CySEC.
At XTB, clients can trade a range of trading instruments including CFDs on forex, indices, commodities, cryptocurrencies as well as stocks, ETFs and investment plans.
The broker also offers a variety of trading platforms to its traders including its own proprietary xStation 5, xStation Mobile and the world renowned MetaTrader4 (MT4).
INTRODUCTION
XTB is one of the largest brokers on the planet, with over 20 years of experience with exchange listed CFD and forex options. Traders who bank with XTB can use CFDs on a variety of instruments to make trades.
Headquartered in London and Warsaw, XTB is available in over 13 different countries. With over 847 000 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. With a multitude of facets to consider, a quick review of the biggest advantages and disadvantages of XTB can help guide traders toward the right choice. Before going into the further review, take a look at the pros and cons.
PROS & CONS
PROS
- Easy deposits and withdrawals.
- FCA regulations.
- Award-winning trading platforms.
- Low fees for CFDs and forex trades.
- Tons of educational material available.
- Easy account registration and access.
- No minimum deposits required.
CONS
- No banking licenses.
- No negative balance protection.
- No copy trading available.
- High fees for stock CFDs.
- Little to no email support.
TRADING INSTRUMENTS
There are hundreds of trading instruments available through XTB. In fact, there are more than 5 600 available instruments for individuals or companies to use. Let us look at some of the most popular and useful instruments available on this platform.
Cryptocurrency CFDs
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.
Forex CFDs
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 pips, 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.
ETFs
Get ETFs with a super low commission rate, starting at 0.0% for monthly turnovers up to EUR 100 000. Execution is fast, allowing you to diversify your portfolio with ease. The margin required at XTB starts from 10%. Choose from over 300 ETFs to start trading.
Stocks
With XTB, you can trade over 2 800 stocks available on 16 major exchanges around the world. 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.
Commodities CFDs
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. XTB allows investors to access commodity trading through the computer, tablet or smartphone app, 24 hours a day.
Indices CFDs
Investors who open 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 indices from your phone and download an app for each different index you are trading on so you can sell on the go.
TRADING PLATFORMS
XTB has its own platform known as xStation 5, which offers a dynamic range of tools and services for professional investors. Beginners can sign up with xStation 5 or make use of MT4, which is a globally recognised platform.
A deeper look between the two trading platforms will give insight for investors who are trying to choose between these powerful tools.
xStation 5
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 customisable so individual investors can rearrange their tools as they see fit. Those who are seasoned veterans love xStation 5 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 xStation 5 apart from other platforms in the industry. With over 5 600 instruments to choose from, a user-friendly design and access to constant statistics and education, it is a platform that evolves with its users.
xStation Mobile
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.
MT4
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 xStation 5. 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.
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 Accounts, 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 maximum leverage of up to 500:1.
Pro XTB Account
The professional version of the XTB account includes all the features of the Standard Account plus more. Traders are charged a commission on cryptocurrencies starting at $3.50 USD per lot, as well as commissions on forex and indices starting at $3.50 USD per lot. However, this comes with access to lower spreads than the Standard Account.
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 USD per lot with a minimum spread of 0.7.
HOW TO OPEN AN ACCOUNT
Opening an account with XTB is simple and free.
You will be asked to provide information such as:
- Which account type, trading platform and 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 address.
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.
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 USD 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 as well as 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.
SOCIAL TRADING AND COPY TRADING
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.
COMMISSIONS & FEES
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 USD 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 EUR 100. The VIP service level requires a minimum of 100 lots traded with a deposit of at least EUR 25 000.
LEVERAGE
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 30:1. Outside of the EU, investors can see up to 500:1 leverage with forex and crypto CFD trades.
WITHDRAWALS AND DEPOSITS
There are some initial deposits you must make into your account before you can start trading. Typically, brokers require a minimum deposit but at XTB, there is no minimum deposit required.
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.
Below, you will see an in-depth review of the different ways investors can deposit and withdraw funds through their XTB accounts.
Making Deposits
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.
- Bank Transfer – The most popular and direct way to make deposits, you can deposit USD from a bank account into a trading account. While XTB does not provide additional charges for this, the individual bank may.
- eWallet – You can deposit through an eWallet platform such as 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.
Making Withdrawals
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 from XTB.
CUSTOMER SERVICE
Customer service is a primary focus of the professionals at XTB, and because of this, they offer exceptional 24/5 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 customisable service so investors all around the world can get
SAFETY AND SECURITY
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.
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.
PROMOTIONS
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.
RESEARCH
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 xStation 5 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.
EDUCATION
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 24/5 customer service chats are always available as well. XTB prides itself on always having an unlimited amount of educational resources available and accessible across the world.
GLOBAL AWARDS
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.
XTB has won several awards over the course of its existence. Amongst others, these awards include:
- Best Broker for Forex and CFDs (2023) – Investing in the Web.
- Best Forex Broker Proprietary Platform (2023) – FXScouts.
- Best Mobile Trading App (2022) – Forex Expo Dubai.
- Best Forex Broker (2022) – Rankia Awards.
- Best Forex Broker for Low Costs (2021) – Investopedia.
- Best Customer Service (2021) – Forexbrokers.com Annual Review.
XTB’s consistency is highlighted by the fact that they have won awards in multiple consecutive years, from many different awarding bodies.
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.
In addition to these regulations, XTB also promises balance protection for clients who are trading in CFDs and forex.
Unfortunately, there is no negative balance protection for non-EU clients.
CONCLUSION
XTB is one of the most popular brokers in the world, specialising 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 xStation 5 platform is an innovative tool with dynamic services to help everyone personalise their trading experience.
The award-winning xStation 5 is a customisable platform that can optimise the trading experience. While there is also a Mobile Trading Alert service where clients can access news from the broker’s Chief Market Analyst, David Cheetham.
XTB 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.
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 customisable trading platform make XTB stand out from the rest.
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.
As XTB is an award-winning company with plenty of educational resources and easy account access, Brokersuggest.com is comfortable to state that XTB is a highly recommended broker for both new and professional traders alike.
