Contributor, Benzinga
October 6, 2023
XTB
Overall Rating:
securely through XTB's website

XTB provides traders of all skill levels access to more than 2,100 global markets. It’s one of the largest stock-exchange-listed forex and contract for difference (CFD) brokers offering a regulated, proprietary platform. For almost 20 years, XTB’s platform has simplified trading for beginner traders yet enabled experts to optimize their strategies by incorporating advanced tools.

Its fully customizable, easy-to-use platform incorporates educational content, market insights and technical tools to give traders an edge over the rest of the market. XTB’s all-in-one offering has made it the ideal broker for more than 500,000 traders globally. 

Best For
  • Beginner traders seeking educational content and around-the-clock support
  • Investors wanting access to various financial markets
  • Traders analyzing fundamental factors to optimize their strategies
  • Expert traders incorporating advanced tools
Pros
  • Easy-to-use trading platform with access to numerous assets
  • Free educational material and market insights
  • Cashback for trades (professional clients only, not retail)
  • Offers xStation 5, mobile app and MetaTrader 4
Cons
  • Weekend support unavailable

XTB Ratings at a Glance

Brokers Product Offerings
Brokers Customer Service
Brokers Security
Brokers Minimum Investment and Pricing
Brokers Mobile App
Brokers User Experience
Brokers Overall

XTB Brokers Product Offerings

Traders using XTB can access forex, indices, commodities, cryptocurrencies, stock CFD and exchange-traded fund (ETF) CFD markets. Traders can use xStation 5 which is the broker’s proprietary platform, providing fast execution speeds and full customization.

Fundamental traders can incorporate market analysis provided by professionals into their trading strategies. Also available for trading optimization are predefined watchlists, client sentiment data, streaming news and an economic calendar.

XTB has designed a platform that’s convenient for beginners to open trades with a few clicks but advanced enough for experts to position themselves well in the market with tools and strategies. Traders can test XTB’s platform before going live by practicing on the demo account. A large database of free educational content such as guides, videos and webinars is available.

On-the-go traders can take advantage of xStation mobile, offering the key features found on the desktop version. Traders can use the app to access CFDs on a platform perfectly suitable for mobile screens.

Traders can access 57 forex currency pairs, consisting of majors, minors and exotics. XTB’s indices offering consists of 36 European, U.S. and U.K. markets. Its commodities selection offers 27 assets such as gold, silver, oil, cocoa, coffee, sugar and wheat, to name a few. More than 1,900 stock CFDs are available, offering popular shares from global markets. XTB also offers 150 ETF CFDs and 49 cryptocurrencies. Fractional shares are also available on publicly traded stocks or ETFs.

XTB Brokers Customer Service

The first port of call for traders wanting their query addressed is the education center. It features more than 200 articles about the financial markets, trading and the platform. XTB also offers a growing collection of video courses, ebooks and regular webinars hosted by professional traders.

To stay on top of the latest economic events and trends, traders can incorporate real-time news and professional market analysis offered by XTB. Traders can also use economic calendars, calculators, performance statistics and market sentiment to gauge trends.

If more information is needed, traders can contact XTB’s support center. Support is offered 24 hours a day from Monday to Friday. Phone, email and online chat are available in multiple languages. Feedback is prompt, but email support might need a few hours to attend to your query during busy periods. 

Traders wishing to speak to account managers can contact them Monday to Friday from 9 a.m. to 6 p.m. The only reason XTB doesn’t receive a perfect rating is that it doesn’t offer support on weekends for all the countries it services. Some countries receive support only on Sunday and not on Saturday.

XTB Brokers Security

Brokers show investors they’re serious about managing their funds according to high financial standards by being regulated. XTB is regulated by the U.K. Financial Conduct Authority (FCA), KNF, CySEC and FSC. Client funds are held in a segregated account and protected by the Financial Services Compensation Scheme up to 85,000 GBP per person in the unlikely event of insolvency.

XTB also offers free insurance of up to 1 million euro, GBP or AUD provided by Lloyd’s of London. Traders don’t need to register for insurance as XTB offers it automatically to all clients. The broker provides numerous legal documents and privacy policies for investors to familiarize themselves with XTB’s operations.

XTB services are unavailable to traders in the U.S., Canada, India, Russia, China, Turkey, Iran, and Ukraine.

XTB Brokers Minimum Investment and Pricing

XTB has enabled traders of all budgets to use its platform. No minimum initial deposit applies. Traders can fund their accounts via bank transfers and credit cards without incurring fees. Other options to fund accounts are Skrill, Paysafe, SafetyPay and Neteller. Each of the e-wallet transfers are charged specific rates.

Withdrawals to credit cards incur a 1.5% transaction fee. If you withdraw less than $100 cash, you’ll be charged $30. 

XTB doesn’t charge commissions for stock and ETF CFDs. Only a spread is charged. Forex traders are charged spreads from 0.1 pips. The minimum transaction volume of 0.01 lots is offered, and traders can magnify their positions by using1:500 internationally and EU & UK is 1:30.

Traders can choose between a standard or a swap-free account. The key difference between the two is the spreads. Swaps are charged on the standard account, but a minimum spread of 0.5 is offered. The minimum spread on a swap-free account is 0.7.

XTB Brokers Mobile App

XTB enables traders to access markets while they’re on the go. The app is available on iOS and Android and contains the key features found on the xStation desktop platform. Although technical analysis is best achieved on the desktop version, the app incorporates key tools and strategies.

The platform’s layout is designed for a mobile screen. It provides traders the convenience to navigate to the various assets and open trades without accidentally clicking on unintended features.

The only issue with the mobile app is that it’s unavailable to traders in all countries. XTB provides its services only to specific regions.

XTB Brokers User Experience

Getting started on XTB is simple and onboarding is within 24 hours. This broker lets traders test out its platform before going live by offering a demo account. Once live, traders won’t incur commissions for trading, and competitive spreads are offered.

Regardless of your budget, you can start trading on XTB because no minimum deposit applies. Deposits and withdrawals are free via bank transfer, and XTB offers various payment options to fund an account such as bank wire, credit cards and various e-wallets.

A large database of free educational material is available. Traders can also access regular webinars and market analyses provided by professionals. Multilingual support is available 24/5.  

XTB vs. Competitors

XTB offers the same features and assets that some of the best brokers do. But it distinguishes itself by providing low fees, innovative tools and free educational material. Benzinga compared XTB to some of the best online brokers.

  • XTB
    Best For:
    Non US Traders
    securely through XTB's website
  • Forex.com
    Best For:
    Fast Execution and High-Volume Traders in the U.S
    securely through Forex.com's website

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% to 77.7% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

    The products and services available to you at FOREX.com will depend on your location and on which of its regulated entities holds your account

  • CedarFX
    Best For:
    Investors interested in 0% commission or eco conscious trading
    securely through CedarFX's website

    CedarFX is not regulated by any major financial agency. The brokerage is owned by Cedar LLC and based in St. Vincent and the Grenadines.

  • Pepperstone FX
    Best For:
    Trading Experience
    securely through Pepperstone FX's website

    Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

XTB Brokers Overall

XTB caters to traders of all skill levels and budgets. It offers numerous assets and competitive spreads while ensuring traders don’t incur fees for deposits and withdrawals. Its support is available around the clock from Monday to Friday.

Traders can access a wealth of information about trading and the financial markets while taking advantage of free webinars and insights offered by professionals on its proprietary desktop and mobile platform.

Frequently Asked Questions

Q

Is XTB a reliable broker?

A

XTB is regulated by several financial authorities such as the FCA, KNF, CySEC and FSC. It holds client funds in a segregated account and offers protection by the Financial Services Compensation Scheme up to 85,000 GBP per person in the unlikely event of insolvency. 

Q

How do you trade on XTB?

A

XTB enables convenient online investing by offering xStation, xStation mobile and MetaTrader 4. Traders can incorporate advanced tools, strategies and market insights provided by professionals to position themselves well in the market. Tools such as calculators and market sentiments are also available to optimize strategies.

User Reviews

Kate Marth

How do you use this product to boost your finances?

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Kate Marth

How do you use this product to boost your finances?

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Kate Marth

How do you use this product to boost your finances?

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How do you use this product to boost your finances?

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