What Is XTB?
XTB is a global CFD broker headquartered in London and Warsaw. It was founded in 2002 and has been providing brokerage services worldwide for almost 2 decades. It is regulated by relevant authorities around the world, including the UK Financial Conduct Authority. The broker is also listed on the Warsaw Stock Exchange. The long and successful history of the company, as well as oversight by the relevant authorities and listing on the exchange, has made it a very reliable trading option for new and experienced traders. Since XTB is regulated, any investment capital is safe and will be insured.
The XTB platform has several features that make it one of the most sought after platforms in the industry. For example, the platform offers the ability to trade various assets: cryptocurrencies, commodities, etc. The platform also provides a very wide range of trading tools, research and advanced charting features. The breadth and precision of the research capabilities have made this platform very popular with novice traders who usually don't have the resources or experience to do their own research. On the other hand, the wide range of technical analysis and charting tools on the platform attract experienced traders.
The platform also has a very efficient customer support service. This service works very quickly, which allows you to solve problems quickly and accurately. This is one of the biggest factors that gives XTB an edge over other platforms that may not have the same efficient or defined customer service capabilities as XTB.
XTB is a CFD trading platform, which means that you do not actually own the underlying assets, but simply earn money by betting on the direction of the price of a particular security. XTB provides access to over 3900 stocks, 3900 ETFs, 22 commodities, 42 indices, 25 cryptocurrencies and 49 currency pairs. However, for users in certain regions of the world, XTB also provides the ability to actually trade stocks rather than CFDs. You cannot use leverage for these trades and there is no guarantee that your order will always be filled. For these accounts, XTB provides access to over 7,800 stocks and 150 ETFs. These securities and stocks cover most of the world's major markets and allow traders to easily open and close positions at low fees.
XTB has a number of significant awards, including the prize in the category "Best Broker in Europe" according to Global Banking & Finance Review and "Best Financial Teacher" according to World Finance Exchange Brokers.
XTB Key Facts
Account currency: USD
Minimum deposit: 1 USD
Leverage: Up to 1:500
Spread: From 0.1 pips
Instruments: Currencies, stocks, indices, commodities, cryptocurrencies, CFDs
Margin call/Stop out: 30%/30%
Trading platform: MetaTrader 4, xStation 5
Accounts: Demo, Standard, Pro, Islamic
Account currency: USD
Deposit/withdrawal: Visa, Mastercard, Skrill, Neteller, Wire-Transfer, SafetyPay
Minimum deposit: 1 USD
Leverage: Up to 1:500
PAMM accounts: No
Min order: 0.01 lots
Spread: From 0.1 pips
Instruments: Currencies, stocks, indices, commodities, cryptocurrencies, CFDs
Margin call / Stop out: 30%/30%
Liquidity Provider: Unknown
Mobile trading: Yes
Affiliate program: Yes
Order Execution: Market Execution
Trading features: Expert Advisors can be used
Contests and bonuses: No
Registration
Registration of a personal account will take about 5 minutes. We enter mail, phone and personal data, then select the type of account and trading platform. To activate your account, you will need to upload scans of documents confirming your identity and address of residence.
How to Start Trading on the XTB Platform
The process of trading on XTB is simple and clear, it consists of only 4 steps. We have covered these steps in detail below.
Step 1: Open a trading account
The first step is to go to the XTB website and register a trading account. All you have to do is set up your login credentials and enter your contact details, including your email address and phone number.
Step 2: Verify your identity
The next step is to verify your identity on the platform before you can trade. Since the XTB platform is regulated by the FCA, new users must pass Know Your Customer (KYC) verification, which involves submitting an ID to the platform.
Step 3: Deposit funds
The next step after verifying your account is depositing funds. The minimum deposit requirement on the XTB platform is just £1 for Standard accounts. The platform does not charge a fee for depositing funds.
To deposit funds into your account, you can do so using a debit/credit card, bank transfer, or e-wallets. However, the card or bank account you are using must be in your name and have sufficient funds. If you choose to fund your account with a debit/credit card, the funds will appear in your account immediately. If you choose to use bank transfer, it will take up to 2 business days.Step 4: Start trading on the XTB platform
Once you've created an account, verified your identity, and funded your account, the next step is to start trading. Just log into your account and find the tool you want to use. Then enter the amount and type of order you want to place, order time limit (if any), stop loss and take profit percentage, and click either buy or sell. The order will be fulfilled almost instantly.
What can you invest and trade on XTB?
As mentioned earlier, XTB is a multi-asset platform that allows you to trade with a variety of instruments. We will discuss in detail below the different asset classes that you can trade on XTB, as well as the general and specific features of each class.
Forex investment
The XTB forex offer is one of the main advantages that makes people trade through this platform. XTB boasts some of the most extensive currency pairings of any forex broker available on the market. The platform has trading options for major, minor and even some exotic currency pairs. In addition to this, XTB is also known for its highly competitive Standard and Pro account spreads, which allow you to trade currency pairs with some of the lowest fees in the industry.
Another important advantage of the XTB exchange is that it has many tools and analysis methods for the forex market, which can additionally help advanced traders for complex technical analysis of their trading strategies. It also includes a very extensive and state of the art research board that allows traders to combine their technical analysis skills with fundamental analysis and create a holistic and profitable trading strategy.
Stock trading
The XTB platform also allows you to trade and invest in stocks. You can do this in two ways: buy the underlying shares or trade share CFDs.If you want to trade or invest in real underlying stocks, you will have to pay a commission for every trade you make. On the other hand, stock CFDs can only be traded using spreads. CFD trading will also allow you to use leverage and the amount of leverage will depend on the market and the collateral you choose to trade. The XTB broker allows you to choose from a variety of stocks and markets that you can trade or invest in, giving traders more variety. XTB broker's spreads and commissions are very competitive and it also supports the use of automated trading strategies to further increase your profits.
Investments in indices
You can also invest in indices and ETFs through the XTB broker. Although they charge slightly higher than the industry average, XTB makes up for it in terms of index diversity. For example, you can invest in several different types of indexes. To get started, you can invest in standard stock indices and sectoral indices. You can also invest in portfolios and indices managed by industry professionals.
Commodity CFD Trading
The XTB platform also allows you to trade Commodity CFDs. The platform features 22 commodities ranging from precious metals (such as gold and silver) to other essential commodities (such as oil and natural gas). Commissions for trading CFDs can be a combination of spreads, commissions or both. The XTB broker also allows you to trade using leverage.One of the downsides of using XTB to trade commodities is that you won't be able to choose how much leverage you want to use on a given trade, instead all your trades are executed with the default leverage provided by the platform.
Cryptocurrency trading
The XTB Broker also differs from most other CFD trading platforms in that it allows you to trade cryptocurrency CFDs. The platform offers over 25 different cryptocurrencies from Bitcoin to other altcoins such as Ethereum, Cardano, Ripple, Doge and more. Despite the low spreads, you will have to pay commissions for trading cryptocurrencies through XTB. Laws limit the ability to trade CFDs on cryptocurrency derivatives in most countries, so there are a limited number of products that the XTB broker provides for the cryptocurrency markets.
XTB Fees and Commissions
XTB fees do not exceed the average for the instruments they offer. The trading fees charged by the platform can be divided into two types: trading fees and non-trading fees. Trading fees refer to the fees a trader pays whenever they make a trade (in the form of a fee or spread). Non-trading fees are fees that are not directly related to the trading activity on the account. For example, this may include inactivity fees, deposit and withdrawal fees, and account management fees. Each of these types of fees is detailed below.
The trading fees charged by the platform are usually low. Whether you trade CFDs on commodities, indices or stocks, the average spread and fees you end up paying are much lower than other similar CFD platforms with the same variety of asset classes. For example, if you hold a long S&P 500 CFD for a week, you will end up paying a fee of $0.75 for every $1,000 invested. Although this differs for different products and securities, in general XTB broker fees are quite low and well in line with the industry average.
The fees for CFDs in the forex market are much lower. For example, the table below shows the fees you will pay for a $1,000 long position with 30x leverage held for a week across various currency pairs.
Pairs XTB broker fees
EUR/USD $4.15
GBP/USD $2.9
AUD/USD $3.6
As for the non-trading fees of the platform, they are also quite low. XTB Broker does not charge bank transfer fees for deposits or withdrawals, and there is no account management fee that you have to pay annually. If you deposit money via credit/debit card transfers or eWallet, you will be charged standard fees of up to 2% of your deposit. The only form of non-trading fee charged by the platform is €10 per month after a year of inactivity if you have not funded your account for 90 days or more
XTB Ease of Use
In general, user feedback on the use of the platform has been very positive. When trading through XTB, you can use the web platform, desktop app, or mobile app. You can also choose from two trading platforms: xStation5 (XTB's own trading platform) or the MT4 trading platform.
Since xStation5 has many features that you will need for trading and analysis, most traders choose it. Some traders choose the MT4 platform if they want to trade using automated trading strategies or use trading signals and bots.
The xStation5 platform is available in a variety of languages from Arabic and Polish to Japanese and Korean. Although the platform looks like it was designed for experienced traders, it is quite easy to navigate and use. The user interface of the platform is designed in such a way that it is convenient even for beginners. You can also customize the platform according to your requirements and preferences.The platform provides a normal login option, but two-step authorization is not available.
The search feature also allows you to search by asset class. For example, if you search for Apple, you will be able to see Apple shares, CFDs, and various options and futures contracts available for Apple.
The platform also allows you to place multiple types of orders. This includes different order types such as market order, limit order, stop limit order, trailing stop order and OCO order. You can also place orders on several types of time limits, for example:
• Best before canceled (GTC)
• Day order
• One week
• One month
• Until the end of the week
• Until the end of the month
• Until the end of the year
• Pending order (GTD)
• Do it now or cancel (IOC)
Finally, another aspect of the XTB trading platform to be commended is the transparency of their fee policy that you will be charged for each trade. When using a specific instrument and placing an order, a dialog box appears informing you of the fees, commissions and margin requirements associated with that particular trade
XTB Features, Graphs and Analysis
The research, charting and analysis tools available on the platform can be divided into 2 categories: those available on the xStation5 trading platform and those that can be accessed through the Market Analysis section of the XTB website. The platform provides you with trading ideas that can be easily found in the news feed on the site. They are based on short-term technical analysis and can be sorted by specific asset.As for the fundamental data of the platform, they are good for quick analysis, but cannot be used to perform a complete analysis. You can easily access relevant metrics and data, such as viewing the P/E ratio or the company's debt-to-equity ratio, but there are no functions that allow you to view the company's financial statements.
The charting tools on the platform depend on the asset classes you are trading. If a certain forex tool is not available on the xStation5 platform, you can always use the MT4 trading platform.
Types of XTB Accounts
There are two main account types that you can open on the XTB platform: Standard and Pro. Standard account is an account for individual traders, which is opened by default. You can then switch to a Pro account by answering a few questions to verify that you are a professional trader. Pro accounts generally have higher minimum deposit requirements, have higher leverage, and pay lower fees for every trade they make. In order for you to be able to create a Pro account, you need to prove that you know what you are doing and that you are an experienced trader who will not lose money.
You can also open a corporate account for your organization on the XTB platform. If you are outside of Europe, you can also open an Islamic account with no swap fees, you pay higher fees instead.
XTB mobile app overview
Like the online platform, the XTB mobile app can also be used with the xStation5 or Mt4 trading platform. It is available for both Android and iOS. The mobile app is quite user-friendly and is designed to make navigation easier. Related functions can be found in one place, which simplifies the workflow. The app also allows you to log in with your fingerprint so you don't waste time entering your username and password when logging in.
You can also place all types of orders through the mobile app, just like on the online platform.The application allows you to set various alerts about prices, violations of certain conditions, as well as major macro and micro economic news that affect the companies and sectors in which you invest.
Deposit and withdrawal methods on the XTB platform
There are many deposit and withdrawal methods that you can use on XTB. First, the account works with three base currencies: euro, US dollar and pound sterling, so you can choose one of them as the currency you will use. You can also use HUF or PLN as the base currency of your account.
To deposit money to XTB, you can use bank transfer, credit/debit cards, or various e-wallets such as:
• PayPal
• Paysafe
• Skrill
• Neteller
• Paydoo
• PayU
• SafetyPay
• ECOMMPAY
• Blue Cash
• Blik
• Sofort
There will be no deposit fees for funds deposited via bank transfer. Funds deposited in any other way will be subject to a commission of up to 2%, depending on the specific method of transfer and the country in which you are located. Withdrawals via bank transfers are also free.
XTB Contact & Customer Service
You can contact XTB by phone, email or live chat to get a quick response to all your questions. While the chat on this platform is very efficient and sets them apart from most of the competition, it is not well-suited to dealing with complex or complex questions that you may have.Phone and email support can help you with requests of any complexity, but it can take a little longer than live chat. XTB's customer support team is available 24/7 on weekdays to answer any questions you may have.
Is the XTB Broker Safe?
The XTB platform is secure - you can be sure of this for one simple reason: they have been providing services to their customers for over 15 years. This platform is listed on the Warsaw Stock Exchange and is one of the largest financial advisory firms and marketplaces in the world. The XTB platform is known for its ease of use, low fees and reliable service. This platform has had very few complaints over the years and is constantly updated to address any issues, small or large, that may arise while trading. The XTB platform is regulated by agencies from different countries around the world, which makes it very safe and secure for trading.
XTB International Limited is a company registered in Belize and regulated by the IFSC (license number IFSC / 60/413/TS/16). In addition, the XTB Group, which includes several companies operating under the XTB brand, is regulated by the Polish KNF, the British FCA and the Spanish CNMV. Client funds are held in segregated accounts. Security depends on the complexity of the password.
Advantages and Dsadvantages of XTB broker
Below is a list of the advantages and disadvantages associated with trading through XTB.
Advantages:
• Some of the lowest fees in the industry for trading CFDs on currency pairs and stocks/ETFs for most markets;
• Fast and free account opening process;
• No commission for account replenishment and withdrawal of funds;
• Large selection of assets available through the trading platform;
• Provides access to CFDs and underlying assets for traders and investors with different requirements;
• Prompt customer service with fast and efficient dispute resolution. Customer support is available 24/7 on weekdays;
• Regulated by various agencies around the world, including in the UK, Poland, Cyprus, Belize and Dubai;
• An extensive set of research tools;
• Wide variety of technical analysis and charting tools available on the platform;
• Two different account types are available: Standard and Pro for different types of brokers. Leverage provided and fees charged vary;
• Offers several tools for customer account protection and risk management, such as negative balance protection;
• The minimum deposit is only £1, which does not require large capital investments on the part of traders;
• Supports the MT4 trading platform;
• Provides a demo account for new users to test strategies and get used to the platform.
Disadvantages:
• Higher commissions than the industry average for trading stock CFDs;
• Limited non-CFD portfolio options available on the platform;
• Excellent for technical analysis, but the platform is inferior to its competitors in terms of fundamental data analysis capabilities;
• Does not offer a guaranteed stop loss option even for FX transactions, exposing traders to the risk of being hit by a market drop;
• Charges a commission for trading cryptocurrency CFDs on both standard and professional accounts;
• Does not support the MT5 trading platform;
• The proprietary trading platform is not equipped with backtesting or automated trading features.
Support Service
To quickly resolve important issues, support specialists work on the site around the clock in 24/5 mode. You can contact support via mail, phone or form on the site, as well as using the chat in the trading platform. Unfortunately, there are no Russian-speaking employees in the company yet, but you can communicate using the translator built into the chat. To check the work of the support service, we submitted a request for a consultation via mail. The answer was received only a day later, which is not very prompt.
XTB company registration address: 35 Barrack Road, 3rd Floor, Belize City, Belize, C.A
Regulation: IFSC
License number: 000302/46
Official site: xtb.com
Contacts
Email: sales_int@xtb.com
Phone: +357 257 25356, +48 222 739 976
XTB Review – Conclusion
The XTB trading platform is one of the most reliable and secure trading platforms for investors and traders of any experience level and also has a variety of asset classes to trade. The trading platform has low spreads and commissions when trading stocks and currency pairs. All in all, the XTB platform is a good option for your trading needs.
XTB provides a good set of tools, quality training materials, and is regulated by several oversight bodies. However, we did not find any serious advantages with this broker. Trading conditions are generally average or above average for the market. There are also complaints about hidden costs on the network, so we recommend that you carefully study the information not only on the company's website, but also in the documents accompanying the registration.
