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XTB Review

securely through XTB's website

1 Minute Review

X-Trade Brokers (XTB), a leading online trading broker based in London, offers a physical presence in 11 other countries. It was established in 2002 in Poland and is therefore publicly traded on the Warsaw Stock Exchange. XTB is highly regulated by the largest financial entities such as the Financial Conduct Authority (FCA) and offers tradable assets including forex trading, indices, commodities, stocks, ETFs and cryptocurrency pairs. Its two platforms sync with all computer devices and provide a flexible trading environment. XTB is famous for its low fees, fast order execution and has won multiple international awards.

Best For

  • Beginner traders
  • Advanced traders
  • Active traders
  • Forex programmers (MT4)

Pros

  • Highly regulated
  • Publicly traded
  • 2,000+ tradable assets
  • Tight spreads
  • 1-on-1 training and education
  • High-quality research
  • High-quality support

Cons

  • Not accepting U.S. clients
  • Minimum deposit of $250, £250 or €250

XTB is established in 2002 and it currently operates as one of the largest brokers listed on a stock exchange. It’s known for high-quality research, transparency, and fast order execution. XTB gives you exposure to many markets and tradable assets on highly competitive rates.

Who’s XTB For?

XTB is a great trading partner for beginning and advanced traders who are looking for transparency and excellent trading conditions. The platform xStation 5 makes XTB a suitable solution for active traders. Since the company offers MetaTrader 4 trading, it is also a good fit for forex programmers and high-frequency traders. XTB is currently available in the following countries: France, Germany, Ghana, Indonesia, Netherlands, Nigeria, Malaysia, Portugal, Russia, South Africa, Thailand, Ukraine, United Arab Emirates, and the United Kingdom.  

XTB's Platform and Tools

XTB offers two platforms for trading: its own xStation 5 and the biggest retail trading platform, MetaTrader 4.

xStation 5

The award-winning xStation platform has an outstanding, easy-to-use order execution and includes a trading calculator and advanced tools for technical analysis. You can access xStation 5 via:

  • Web browser
  • Desktop
  • Tablet
  • Smartphone
  • Smartwatch

xStation 5’s friendly layout allows you easily to switch between charts. You can open and close trades with a single click. The platform offers a rich set of analytical tools and market research elements. It also contains a tab that contains your trading performance statistics. You can also create your own personalized market watch view for easier access to the assets that interest you. The bottom panel lets you easily manage your trades. You can open and close trades, set pending orders, control stop-loss orders, monitor your trade history or your cash operations. xStation 5 was also awarded  “Best Trading Platform” in 2016 by the Online Personal Wealth Awards. The platform has a rapid order execution of 85 milliseconds and no requoting.

MetaTrader 4

MetaTrader 4 is the biggest retail trading platform in the world, though it might offer a steep learning curve for beginners. The platform is rich on trading indicators and analytical tools to improve your forex trading strategies, as well as a programming element for automated trading. If you are a programmer, you can create your own custom indicators or robots that will trade automatically for you, or you can hire a programmer to do it for you. Another great feature of the MetaTrader 4 platform is its ability to test your trading strategy so you can see when your strategy needs further optimization. You can access  MetaTrader 4 via:

  • Web browser
  • Desktop
  • Tablet
  • Smartphone

MetaTrader 4 has the potential to be fully customized. If an indicator is missing, you can build it or easily download it. You can customize the indicators if you have coding experience and can download and save trading templates with just a few clicks.

XTB's Research Offerings

The research offerings at XTB are on a world-class level. xStation 5 supports various research tools:

  • Trader statistics
  • Trading calculator
  • Latest market news
  • Market analysis
  • Audio feed
  • Market sentiment
  • Equity screener
  • Top market movers
  • Economic calendar

In addition, XTB has a comprehensive education section, its “Trading Academy.” It has four subdivisions, depending on your level of knowledge:

  • Basic
  • Intermediate
  • Expert
  • Premium

The academy includes a trading library, which is handy for newbie traders. Live webinars are frequently hosted by XTB as well. XTB’s research team was awarded Bloomberg’s Top FX Forecasts for Q2 and Q3 of 2018. XTB exceeded the performance of all investment banks in the sector.

XTB's Commission and Fees

XTB offers both Standard and Pro account types. Each has different trading conditions and fees.

Standard Account and Pro Account Fees

  Standard Account Pro Account
Minimum Spread 0.35 pips 0.28 pips
Maximum Leverage 1:30 1:30
Forex No commission Commission from £2.50 per lot
Indices No commission Commission from £2.50 per lot
Commodities No commission Commission from £2.50 per lot
Stock CFDs Commission from 0.8% per lot Commission from 0.8% per lot
ETFs Commission from 0.8% per lot Commission from 0.8% per lot
Cryptocurrency No commission Commission from £2.50 per lot

Islamic Account Fees

XTB offers an Islamic account solution for its Arabic subdivision. This account type has no swaps.

CFD

  • FTSE spread: 0.08%
  • GBP/USD spread: 0.01
  • Oil spread: 0.03
  • Stocks spread: 0.2%

Forex

  • GBP/USD spread: 0.01
  • EUR/USD spread: 0.2
  • EUR/GBP spread: 0.1

Loyalty Rewards

XTB offers various loyalty rewards. You can enjoy cashback transfers relative to your trading amounts and lower spread groups. Another loyalty reward is XTB’s private WhatsApp group, where you can get real-time notifications from XTB’s trading team. If you refer a friend, you get a $1,000 bonus (non-EU). XTB also has one-on-one mentorship programs for its most loyal clients. The XTB team conducts these programs on a regular basis.

XTB's Security

The company protects its clients’ accounts up to £50,000 through the Financial Service Compensation Scheme (FSCS) in case it fails to meet its financial obligations. XTB holds its client’s funds in a separate account. In 2018, XTB added extra licenses to its regulatory portfolio:

  • CySec
  • FSCS Belize

An extra license from South Africa is currently pending.

XTB's Customer Support

XTB’s customer support is available through phone, email and live chat 24/5 and follows strict key performance indices to pursue higher client satisfaction. The highly-qualified support team can help and lead you through different operational procedures and answer basic trading questions such as:

  • Account opening
  • Depositing funds
  • Withdrawing funds
  • Software functionality
  • Benefit systems

XTB's Tradable Asset Classes

XTB supports a wide range of tradable assets – more than 2,000, including currency pairs, stock CFDs, indices, commodities, ETFs and cryptocurrencies.

Forex Stock CFDs Indices Commodities ETFs Cryptocurrency
50+ currency pairs, including all majors 1,500+ shares of companies in the U.S., U.K., Spain, Switzerland, Portugal, Spain, Poland, Finland and France 20+ global indices Major commodities, including oil, gold, silver, wheat, coffee, copper and platinum Through Vanguard, iShares, Invesco, and others Bitcoin, Ethereum, Litecoin, Ripple, and others

XTB's Ease of Use

XTB’s main goal is to make financial markets accessible for every type of trader from new traders to professionals. This is why it supports a friendly interface at its xStation 5 platform. The platform is modern and intuitive and contains a rich set of analytical and research tools, which you can shift with a single click.

Account Opening

The registration process might be a bit heavy, but this is absolutely standard for every regulated broker on the market. The account-opening procedure happens through an online form, which you can get from every “Create Account” button on its website. First, it’ll ask you to fill in some personal information, then you choose the account you want to open (Standard or Pro), the platform (xStation 5 or MetaTrader 4) and the currency type. The registration process comes with some regulatory questions, standard for determining your financial condition and whether you can afford to trade. The account opening ends the verification of your account. You need to provide an identification document like passport or ID before you can deposit your funds and start trading. If you don’t feel ready to trade with real money, you can practice on a demo account. The process of getting a practice account is easier.

Deposit Funds

You can deposit funds to your account by clicking the button at the top of XTB’s website. The company supports various deposit methods:

  • Bank transfer
  • Credit and debit cards: Mastercard, Maestro, or Visa
  • e-Wallets: PayPal or Skrill
Source: XTB.com

This makes the deposit process very easy. Notice that XTB will not charge you a deposit fee but the entity you use to make the deposit could charge you.

Withdraw Funds

To withdraw funds, you first need to confirm a bank account by providing a valid bank statement not older than three months. You can withdraw funds from your account at any time by selecting the trading account from which you want to get funds. Then, select the amount and put in your bank account number. Joint bank accounts can work neither for deposits nor for withdrawals. If you withdraw funds in a bank account with a different currency, the funds will automatically convert based on the HSBC exchange rate.

Final Thoughts

Your broker choice is crucial for your trading success and you need to do your research with due diligence. If you are looking for a forex broker, you should definitely consider XTB if you are located in one of the countries it supports. Fortunately, XTB is a reputable broker with transparent trading conditions, which is likely to bring your trading experience to the next level. Its awards prove its standing as one of the most-desired trading solutions, but most importantly, XTB is one of the most highly-regulated providers, which definitively ensures your security.