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.
“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 fixed 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.
“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 (firstname.lastname@example.org),
- 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.
“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.