|Operating since year:||2002|
|Regulation:||FCA, IFSC, CySEC, BaFin, CNMV in Spain.|
|Address:||Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom|
|Phone:||+48 222 739 976|
|Languages:||English, Italian, Danish, Dutch, French, German, Greek, Norwegian, Arab, Portuguese, Russian, Spanish, Swedish, Turkish, Chinese, Polish, Romanian, Japanese, Czech, Finish.|
|Trading platforms:||MT4, xStation 5|
|Minimum deposit ($):||250|
Online Trader General Info
The XTB Ltd was founded in 2002. It has satellite offices in up to thirteen countries in the world, including Germany, UK, France, Poland, and Turkey. The company offers a wide range of financial instruments.
XTB’s International branch offers XTB Islamic accounts: No Swaps, no hidden costs or commission charged.
Protection and Regulation
XTB has official licenses, with five leading regulators. XTB is a considerably low-risk Broker Company. Here is the list of these regulators:
- Financial Conduct Authority (XTB UK)
- CySEC, Cyprus Securities and Exchange Commission (XTB Europe)
- Belize International Financial Services Commission under license number (XTB International)
- Polish Securities and Exchange Commission and Financial Supervision Authority (X-Trade Brokers DM)
- CNMV – Comisión Nacional del Mercado de Valores (XTB Spain)
- The XTB onlne broker is in the middle of getting a license for its South Africa Entity
The account opening process with XTB broker is quite an easy, straightforward three-step process. In this case, a client gets to choose between a pro account and a standard one. New users are first required to fill out a registration form online. Afterward, client receives a confirmation mail on the registered email address.
After confirmation, the second step consists of sending verification documents to the XTB verification department. The verification documents are proof of identity and residence verification. The third step is funding the account.
The process is different for UK residents who open an account with XTB UK, where most of the account applications are instant. Besides, Germany residents are not required to send verification documents since the process is done via video call.
XTB is listed on the Warsaw Stock Exchange.
Customers can choose between the standard and pro account. The difference between these two is the spreads and lot sizes available to trade. The pro account offers much more competitive spreads that start from 0.28 pips. The standard account charges fixed spreads that start from 0.35 pips. Overall, the account opening process and the account types are suitable for all types of traders.
Commissions, XTB Fees, and Spreads
XTB operates on both the fixed spread and commission-based pricing. It offers a Standard and a commission-based Pro account. In terms of commissions and fees, each account comes with its execution method and spread model. Overall, spreads are competitive. The pro account offers the lowest spreads with EUR/USD pair. The spreads are as low as 0.2 but has an additional small commission. The standard account has zero commissions and a fixed spread of 0.8 for EUR/USD. Besides, XTB does not charge any hidden charge on account maintenance and trade entry. The company has a transparent pricing policy for all its services.
Web and Desktop Trading Platforms
XTB has two trading platforms. One is the popular MT4. For the second one, XTB has offered a rival platform to the MT4 in the form of its proprietary platform, the XStation5. The MT4 is a popular platform among forex traders. MT4 has nine timeframes, three chart layouts, 80+ indicators, and 37 language options. It allows for expert advisors automated trading strategies. The platform allows traders to save chart settings as their preferred templates.
XStation5 has an equity screener and calculator. XStation5 is equally potent software with a simple layout and matches the standards of the most revered trading platforms. XStstation5 has a collection of technical analysis tools like RSI, moving average, Fibonacci, and much more. The platform allows traders to compare charts and check the trader’s statistics. Also, XStation5 users can peak at other traders’ markets positions.
All in all, the XStation is a powerful premise and in a way an equal match to the MT4.
Mobile Trading Platforms
Moreover, XTB mobile apps are available on Android and IOS. The mobile platform has many similarities to the desktop version with a few differences in the icons and other minor details. The asset list is the same; the charts are the same too. There is a live chat function inbuilt in the app, and the client can contact the customer support team on the go. The mobile trading is available for both the real and demo accounts.
For all of its traders, XTB has a leverage policy of 1:30 maximum. It complies with the regulations stipulated by its license provider, the Financial Services Authority – FCA.
However, there are exceptions to this rule. The “elected professional” club’s members can take advantage of maximum XTB leverage of 1:200, though this comes with very demanding terms. The traders are required to make ten trades per quarter or have an account portfolio exceeding €500,000. Besides, they must prove they have worked as a financial expert for more than one year. Notably, traders who are members of this club rights lose some of the FCA conditions.
Bonus and Promotions
Moreover, XTB offers fair bonuses and promotions for all its members and partners. XTB’s licenses bind it to offer no bonuses to its customers. For example, FCA and CySEC are very strict on that matter. Bonuses are a very good way to solicit customers to make deposits in return for very appealing bonuses. However, bonuses are often tied to unrealistic trading volume requirements, and most of them were unachievable. That left many traders frustrated. As a result, the FCA and CySEC conditions came in to protect the customers’ interests against these kinds of broker manipulations.
XTB only offers discounts, loyalty points, and an affiliate program – especially for EU traders, through referring a friend. The website owners make money by opening and funding the XTB account. The affiliate program rewards those partner members, whose advertisement banners and links promote XTB website and suggest users sign up page. Traders who live outside the European Economic Area get $1,000 bonus for every trader they bring on board and become an XTB member.
Deposit and Withdrawals Options
Moreover, XTB provides a multicurrency wallet. Thus, traders can fund their accounts using cards, e-wallets, or bank transfers. XTB offers its traders a variety of ways to make deposits and withdrawals. These are bank transfers, Visa, PayPal, MasterCard, Paysafecard, Maestro, Neteller, and Skrill.
E-Wallets like Skrill and Paypal have a transaction charge of 2% of the deposited amount, while card and bank transfer payments are free of charge. Traders can make deposits using any of the following currencies GBP, EUR, USD, and HUF. XTB processes deposits instantly for most of the money transactions, withdrawals, and deposits which are made before 1 pm UK time. However, Bank transfer transactions have a lag time of three business days. Traders are required to make an initial XTB minimum deposit equivalent of USD/EUR/GBP 250.
Depositing XTB is done in three easy steps. The user is required to first log in to the online XTB account. The second thing to do is to click on the deposits, and the final process is selecting a deposit method and making the deposit.
Moreover, the withdrawal process is quite the same as the deposit process. Thus, to initiate a withdrawal, the client has to first log in to the XTB online account then click on the “withdraw” tab. Afterwards, the client chooses the amount he or she wants to withdraw and clicks on the green OK tab. The transaction periods are identical to the deposit ones.
Research Tools and Insights at XTB
XTB’s most interesting analytical tools are the screeners, heat maps, and sentiment indicators. These tools are available through XTB’s website and within the trading application. The news feed and analyst blog include some actionable technical and fundamental analysis throughout the day.
The calendar is very good, easy to use, and integrated into the trading platform. Most of the research tools are found within the proprietary trading platform xStation 5. However, some other features, like testing, are accessible in MetaTrader4.
XTB has a library of videos and informative trading related articles. Its education is easy to find and navigate. The section 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, but none for expert traders.
The material is a step-by-step course, that covers basic trading concepts, risk management, and trading strategies. FAQ section is covering hot topics such as regulation, account funding, and a trading glossary. XTB’s basic, intermediate, expert and premium courses created an obvious path to learn.
XTB’s reliable customer support is available whenever the markets are open via phone, chat, and email. XTB operates a 24/7 customer support desk. The client can reach out for help via the following means:
- Live Chat – The live chat option is available across almost all of XTB’s platforms, including a mobile app, XTB demo platform, and live trading platform;
- Email – The customer support online offers help in several international languages such as French, English, Spanish, Arabic, Italian, Chech, Portuguese, German, Polish, Russian, Chinese, and Slovak;
- Phone support.
Notably the XTB customer support is reliable and has an instant and effective response to a solution to customer inquiries.
XTB Review Conclusion
The XTB provides access to a variety of markets such as indices, metals, XTB forex, shares, commodities, and even cryptocurrencies. Overall, spreads, trading costs, and account fees are about average for the industry. XTB traces its history back to Poland and is registered with the Polish Financial Supervision Authority. The company is regulated by financial conduct authority
FCA. Two trading platforms: custom made xStation 5, and MetaTrader 4 are available for the desktop along with mobile applications.
- 3000 trading markets;
- User-friendly research tools;
- Price Alerts.
- Stop losses are only available on the basic accounts;
- An initial investment of $250.
We hope our XTB review was useful, and you also found the information you were searching for. Make sure to find additional information before you start trading. We wish you good luck trading!
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