“A broker established in 2002 that offers CFD and FX trading”
XTB is an online brokerage company dealing in FX and CFD, more specifically they offer Forex, Indices, Commodities, Stock CFD’s, ETF CFD’s and even crypto trading. The company was established in 2002, though initially it was referred to as X-Trade. XTB Ltd has satellite offices in 13 countries in the world including UK, Poland, Germany, France and Turkey. The company offers a wide range of financial instruments through its standard and pro account types. XTB also offers Islamic account: No Swaps, No hidden costs or commission charged.
XTB Broker Video Review
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Investor Protection & Regulation
“XTB is regulated by 5 leading regulators and its members have an investment insurance cover”
XTB has secured licenses with a wide variety of world’s top financial regulators. The following is the list of these regulations:
XTB UK is regulated by the Financial Conduct Authority under license number 522157 .
XTB Europe is regulated by CySEC under license number 169/12 as at 2018.
XTB international is regulated by Belize International Financial Services Commission under license number IFSC/60/413/TS/17 .
X-Trade Brokers DM SA is authorized by the Polish Securities and Exchange Commission under license number DDM-M-4021-57-1/2005 and supervised by Polish Financial Supervision Authority (Komisja Nadzoru Finansowego).
XTB Spain is regulated by the Comisión Nacional del Mercado de Valores under license number 40 .
XTB is in the process of getting a license for its South Africa Entity.
X-Trade Brokers DM SA is bound by the Komisja Nadzoru Finansowego (KNF) license terms to offer its services to European Economic Area countries. The license has strict terms that deal with the protection of client’s funds and conflict of interest. The license terms bind the company to hold clients’ funds in separate accounts from its company funds, also KNF conducts yearly audits to establish the solvency of XTB.
X-Trade Brokers DM SA is a member of the Investors Compensation Scheme (ICS). The ICS provides insurance to clients in the event that the company goes bankrupt or becomes insolvent. On a similar note, its licenses with the FCA and CySEC automatically makes its UK and Europe clients beneficiaries of a £50,000 and 20000 euro cover respectively courtesy of the Financial Services Compensation Scheme and Investor Compensation Fund.
Tradable Products
“A collection of 3000+ trading instruments across six asset classes”
XTB has an assortment of trading instruments summing up to over 1500. These assets cut across the following categories; FX pairs, indices, ETFs, cryptocurrencies, shares, and commodities. A breakdown of the most popular tradable instruments is as follows:
Cryptocurrencies FX Pairs Indices Shares Commodities
Bitcoin EUR/USD
UK100
FR – Casino Guichard Perrachon SA
Natgas
Dash AUD/CAD
US30
US – Range Resources Corp
Soybean
Bitcoin Cash EUR/NZD
AUS200
US – Toro Co/The
Sugar
EOS EUR/CZK
MEXcomp
US – Red Hat Inc
Copper
Cardano
EUR/CAD
CHNcomp
US – Arcos Dorados Holdings Inc
Oil
Ripple
CHF/JPY
JAP225
US – Rent-A-Center Inc/TX
Platinum
Ethereum
EUR/NOK
EU50
US – Church & Dwight Co Inc
Cotton
Stellar
AUD/CHF
ITA40
US – Fitbit Inc
Zin
Litecoin
CHF/PLN
BRAcomp
US – Sherwin-Williams Co/The
Aluminum
Ether Classic
EUR/PLN
W20
US – New York Times Co/The
Corn
AUD/USD
SPA35
US – Sprott Physical Gold Trust
Coffee
AUD/NZD
KOSP200
DK – FLSmidth & Co A/S
Gold
EUR/JPY
US200
DE – K+S AG
Cocoa
CAD/CHF
USDIDX
US – ResMed Inc
Silver
AUD/JPY
US500
US – Adobe Systems Inc
Emiss
EUR/HUF
VOLX
UK – Compass Group PLC
Wheat
CHF/HUF
DE30
NL – Boskalis Westminster
Nickel
EUR/GBP
UK100
UK – Pagegroup PLC
CAD/JPY
FRA40
US – Sprott Physical Silver Trust
Account opening
“A straightforward account opening process with an option to choose between a standard account and a pro account”
Registering an account with XTB is a straightforward three-step process. New members are first required to fill out a registration form online. A mail will be sent to your registered email address requesting you to confirm receipt by clicking a link which will be contained in the email.
Once you have confirmed your email address, the second step is sending verification documents to the XTB verification department. The verification documents required are; proof of identity and proof of residence.
The third step for you to begin trading is funding your account. The process is a little bit different for UK residents who open an account with XTB UK, where 75% of account applications are instant. Germany residents aren’t required to send verification documents since the process is done via video call.
During registration, customers can choose between the standard and pro account. The difference between the two is based on the lot sizes available to trade and the spreads you will receive, the pro account offers much more competitive spreads (starting from 0.28 pips) because its spreads are based on volume and they also charge a commission, while the standard account charges fixed spreads (starting from 0.35 pips). Overall, the account opening process and the account types are friendly and suitable for all types of traders.
Deposit & Withdrawals options
“XTB provides a multicurrency wallet which traders can use to fund their accounts using cards, e-wallets or bank transfer”
XTB provides traders with a variety of ways in which they can make deposits and withdrawals. These are bank transfer, MasterCard, Visa, PayPal, Paysafecard, Maestro, Neteller, and Skrill.
E-Wallets like Paypal and Skrill attract a transaction charge of 2% of the deposited amount, while card and bank transfer payments are free of charge. Traders are allowed to make deposits using any of the following currencies EUR, USD, GBP, and HUF. XTB processes deposits instantly for e-wallets and card payments and same day processing for withdrawals for requests made before 1 pm UK time. Bank transfer transactions have a lag time of 3 business days. Traders are required to make an initial minimum deposit of £/ $/€ 250.
Making a deposit to XTB can be done in three easy steps.
You will be required to first log in to your online XTB account, second is to click on ‘deposits’ and the final process is selecting a deposit method and making the deposit. The withdrawal process is much the same as the deposit process, to initiate a withdrawal; you need to first log in to your XTB online account then click on the “withdraw” tab, choose the amount you want to withdraw and click on the green OK tab. The transaction time frames are identical to the deposit ones.
Web & Desktop Trading Platforms
“Two main platforms: MT4 and xStation5, both beginner friendly and available as desktop and web versions”
XTB has two trading platforms, the popular MetaTrader4 (MT4) and their own tailor-made trading platform dubbed xStation 5. The MT4 is a commonly used platform among forex traders since many forex brokers offer it as their core trading platform.
MT4 has 80+ indicators, nine timeframes, 3 chart layouts, 37 language options and allows for expert advisors which is preset or programmable automated trading strategies. The platform enables traders to save chart settings as templates and loads the settings on the go. Resource wise the software is low on the usage of computer resources like RAM and basic computers can work well with MT4 without being slowed down, provided internet connectivity is stable.
XTB has offered a rival platform to the MT4 in the form of its own proprietary platform, the XStation5. Embedded with an equity screener, and calculator xStation5 is equally robust software with a simple layout and matches the standards of the most revered trading platforms. XStstation5 has a collection of technical analysis tools such as RSI, moving average, Fibonacci and much more. The platform allows traders to simultaneously compare charts and check trader’s statistics such as the most successful traded pairs. XStation5 users are able to have a glance at other traders’ markets positions such as the number of buy positions versus sell positions.
Traders can switch between 16 different languages, choose the light mode, set price alerts, account management tools such as close all losing positions and much more. The platform is embedded with a newsfeed on the top section, a calendar, a market analysis section, and free education videos arranged from beginner to expert. The platform is available as a desktop-client and a web version and allows for demo trading. The platform has scooped awards in the past.
Overall, the xStation is a powerful proposition and some may say, equal match to the MT4.
Mobile Trading Platforms
“Trade on the go with XTB mobile trading apps available on both Android and iOS devices”
XTB supports mobile trading and traders are provided with the option of trading from their iOS and Android devices for both the MT4 and xStation5. The mobile version has many similarities to the desktop version with a few differences in the icons and other minor details. The charts have the same appearance as the desktop with even better scroll ability and sleek appearance. The asset list is the same as those available on the desktop version. Aside from the categorized asset list on the top section of the app, there is a search bar for easy location of trading instruments. The calendar, education, and news sections are all intact as per the image below of the mobile app. What’s more interesting is the fact that there is a live chat function inbuilt in the app, and you can speak with the customer support team on the go. The mobile trading functionality is available for both the real and demo accounts.
Trading Features
“Interactive account management tools and leverage as high as 1:200 for elite traders”
XTB provides traders with a set of account management tools that assist them to better manage their trades. Using the xStation5, traders can choose to close all positions in one shot, close all profitable positions, close losing positions, and quickly buy and sell assets.
XTB has a leverage policy of 1:30 maximum for all of its traders. This is in compliance to the regulations stipulated by its license provider, the FCA. However, there are exceptions to this rule by joining the ‘elected professional’ club. This cadre of traders can take advantage of a maximum leverage of 1:200, though this comes with a stringent terms. ‘Elected professionals’ are required to make 10 trades per quarter or have an account portfolio exceeding €500,000, and they must prove they have worked as a financial expert for a period of more than one year. Traders who have ‘elected professional’ club rights lose some of the FCA conditions.
* All details are according to data taken from the broker’s website
Commissions & Spreads
“Competitive fixed spread and commission based pricing”
XTB operates both on fixed spread and commission-based pricing. The difference in the two pricing models varies depending on the instrument. The pro account offers the lowest spreads with pairs like EUR/USD having spreads as low as 0.2 but with an additional small commission.
The standard account has a fixed spread of 0.8 for EUR/USD pair with zero commission charge.
Stock and ETF CFDs all attract a sixed commission of 0.08% per lot across the two types of accounts.
Cryptocurrencies falling under the standard account aren’t charged any commission, while pro account holders are charged a GBP 2.5 commission per crypto trade.
Besides from the spreads and commissions, XTB doesn’t charge any hidden charge pertaining to account maintenance and trade entry. They have a transparent pricing policy for all their services.
*All of the figures above are according to the broker’s website data
Bonus & Promotions
“Fair bonuses and promotions for XTB members and partners”
XTB’s licenses with some of its regulators bind it to offer no bonuses to its customers, FCA and CySEC to be specific. Bonuses have been used previously by online brokers to solicit customers to make deposits in return for ‘attractive’ bonuses. However, the bonuses were tied to unrealistic trading volume requirements which were most often unachievable, leaving many traders frustrated and feeling duped. As a result the FCA and CySEC stipulations came in to protect the customers’ interests against such manipulation by the brokers.
XTB only offers rebates, loyalty points, an affiliate programme and a refer a friend promotion for non – EU traders. The affiliate program rewards website owners who share advertisement banners and links pointing to XTB website sign up page. For the website owners to make money, their referee needs to open and fund the XTB account. Traders who live outside the European Economic Area get rewarded with $1,000 bonus for every trader they bring on board and become a XTB member.
Customer support
“Reliable customer support service available across a convenient reach out means”
XTB operates a 24/7 customer support desk. You can reach out for help via the following means:
Email (s ales_int@xtb.com ),
Live Chat
Phone support (+48 222 739 976/ +44 2036953086).
The live chat option is available across almost all of XTB’s platforms including mobile app, demo platform, and live trading platform. Should you wish to, you can also opt to visit their physical branch for a one-to-one consultation with their representatives. UK residents can walk in to their offices located at 1 Canada Square, Canary Wharf, London E14 5AA, UK (map ). The company has other 12 offices globally where traders can request assistance.
The customer support online is offered in several international languages such as English, Spanish, Arabic, French, Italian, Portuguese, Russin, Chinese, German, Polish, Chech, Slovak.
You can also reach out for help by reaching out through the social channels eg. by contacting them via Twitter and Facebook Direct Messages.
In a bid to test out their customer service and to present the fairest review, we tested out some of the customer support services anonymously. The Live Chat support was fair. The response time was moderate, with the rep responding within 5 minutes. The customer service representatives showed the highest level of professionalism and exemplary customer services skills.
The phone support on UK customer support desk was also well received. The customer service representatives displayed a high level of professionalism and mastery of the FX and spread betting niche. All our questions were thoroughly answered. The email service was equally good with an average response time of five minutes to our email. All our inquiries were answered and we were provided with further links to their website content for additional reading.
Our general experience was wonderful. XTB customer support can be relied on for instant and effective response to solution to customer inquiries.
Research
“XTB provides traders with powerful market research tools”
Under the menu item Market Analysis on their website, you will find a news portal and an economic market calendar. The market calendar can be filtered to show upcoming news based on country and impact. Traders can also choose a daily, weekly, monthly or a custom view of the events.
On the news section, XTB aggregates important financial news and updates the section as the news occurs. On the XTB platform the market analysis section is more in-depth, there is a stock scanner, a market mover tab, a market sentiment section and heat map.
Education
“A library of videos and informative trading related articles suitable for all types of traders”
XTB has an educational section that is free to view for any website visitor. The website has a premium education too. The educational materials include videos and articles for basic and intermediate traders, however so far none for expert traders. The content is arranged in a step-by-step manner covering basic trading concepts, such as what is forex to advanced concepts such as trading strategies and risk management. Traders can switch between two reading modes; show by level and show by subject. There is a detailed FAQ section too covering hot topics such as regulation, account funding and a trading glossary.
Trading experience
“A broker with services suited to all types of traders”
XTB is online broker that is suited to a wide variety of traders. The mere fact that it is running two parallel trading platforms with different sets of features gives traders the opportunity to switch to the trading platform of their choice, depending on their needs. It also appeals to a wider variety of traders with differing platform requirements. Meanwhile the XTB website is user-friendly and easily navigable.
FAQ
Yes, XTB is regulated by top-tier regulators, FCA and CySEC inclusive.
XTB is based in London, UK
XTB charges a spread between the bid price and ask price, in some instances it also charges a commission.
How do I deposit in XTB account?
You can deposit money via the following means; bank transfer, MasterCard, Visa, PayPal, Paysafecard, Maestro, Neteller, and Skrill.
What is the minimum deposit for XTB?
€250, £250, or $250 minimum deposit
How do I withdraw money from XTB?
You will need to log in to your online account, then click on withdraw, choose the amount you wish to withdraw, and then click on the OK button to complete the process. eWallets and card payment processing is conducted same day if request is made before 1pm. It may take 3 days for the payment to show up on your account.
What is the max leverage in XTB?
The maximum leverage is 1:200 for professional traders, although the standard leverage is 1:30.
How do I open an account with XTB?
Opening an account with XTB is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Yes, MT4 as well as its own proprietary platform.
Conclusion
“A highly regulated broker with a customer-centric approach”
XTB is a broker that has taken the right approach in meeting its client demands and expectations. The brokers bespoke trading platform is designed to suit all types of traders, yet for those that prefer it there is also the MT4 platform.
