XTB Review

May 28, 2020 06:28 AM ET
XTB Review

Review Summary

Founded in 2004, XTB offers superior execution of trades on a reliable and award-winning platform. As one of the largest stock exchange-listed CFD and Forex brokers in the world, XTB aims to help its users at every stage of their trading journey.

XTB

RATING

7.5

YEAR FOUNDED

2004

LOCATION

United Kingdom, Germany, France, Poland, Spain, Belize

REGULATION

FCA, IFSC, ACPR, CMB, CNMV, KNF, BaFin

US AVAILABLE

No

TRADING INSTRUMENTS

Forex, Commodities, Indices, Stock CFDs, ETF CFDs, Cryptocurrencies, Shares, Bonds, Metals, Energies

TRADING PLATFORMS

xStation 5, MetaTrader 4

MINIMUM DEPOSIT

$250

DEPOSIT METHODS

Credit Card, Bank Transfer, PayPal, Skrill, Paysafe, SafetyPay, Neteller

Base Currencies

4

Inactivity fee

$0

Withdrawal fee amount

$0

Max. leverage

Up to 1:200

Min Spread

0.1 Pips

Currency pairs

49

Demo account

Yes

Social/Copy trading

No

 

XTB Pros and Cons

Pros

Cons

  • Easy and fast account opening
  • Poor email support
  • Fast and free deposit and withdrawal
  • Limited product portfolio, mostly Forex and CFD
  • Low Forex and Stock index CFD fees
  • High fee for stock CFD

 

In-depth XTB Review

XTB started its journey as X-Trade in 2002 and it merged into XTB in 2004. With over 15 years of experience, it is one of the largest CFD and Forex brokers listed on the stock exchange. They have offices in more than 13 countries worldwide. 

XTB treats its traders like valued partners and offers a personal approach to establish long-term relationships with traders so they can be successful in trading. Every trader is provided with a dedicated personal account manager that offers individual support in every step. 

Regulated by some of the most well-known regulatory authorities, XTB is a safe place for both novice and experienced traders. It has won many prestigious awards since its foundation. The broker combines powerful trading technology with fast and reliable trade execution speeds, full trade transparency, and no requotes. It also provides deal tickets so traders can view the spread, pip value and swaps on their orders. 

Regulation: As a globally regulated broker, XTB is regulated by various government authorities through multiple jurisdictions. It is authorised and regulated by FCA (Financial Conduct Authority) in the United Kingdom, ACPR (Authorite de Controle Prudentiel et de Résolution) in France, and IFSC (International Financial Services Commission of Belize). Apart from these, it is also regulated by CMB (Capital Board of Turkey), CNMV (Comision Nacional del Mercado de Valores) in Spain, BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) in Germany, and KNF (Komisja Nadzoru Finansowego) in Poland. Being regulated by FCA ensures the security of client funds held in segregated accounts. Moreover, eligible persons are covered with the Financial Services Compensation Schemes (FSCS) up to 50,000 Euros in cases of insolvency. Accounts on XTB also have negative balance protection so account losses of traders cannot exceed their actual funds. 

Key Features

One of the largest stock exchange-listed Forex and CFD brokers in the world, XTB has many important features worth mentioning, which make it popular among traders. The most important features are:

Powerful technology: XTB is the winner of the ‘Best Trading Platform 2016’ that was given by Online Personal Wealth Awards. It offers live market commentary, economic calendar, complete trade transparency, super-fast trade execution speed, and advanced chart trading tools for the convenience of traders. 

Value for money trading: XTB values its account holders and their money trading. It offers more than 1500 instruments including Forex, Indices, Shares and commodities. With up to 500:1 leverage, traders can benefit from market-level execution and tight spreads from 0.3 pips. The broker does not charge an inactivity fee but you can earn active trader rewards.

Complete trade management: XTB offers detailed trader performance statistics to highlight how users can improve in trading. A trader’s calculator is provided to help the traders specify their risks and rewards. You can manage your trades from any device including desktop, laptop, smartphone, and tablet. The broker also provides complete trade transparency including pip value, spread, and swaps on the deal ticket. 

Account Types and Opening

XTB offers two types of accounts with different fee structures, such as:

  1. Standard account: No commission but wider spreads. 

  2. Pro account: Commission with tighter spreads. 

Apart from these two, there is an Islamic account.

 

Standard

Pro

Islamic

Execution type

Market

Market

Market

Instruments

1500+

1500+

1500+

Available Instruments

Forex, Commodities, Indices, Stock CFDs, ETF CFDs, Cryptocurrencies 

Forex, Commodities, Indices, Stock CFDs, ETF CFDs, Cryptocurrencies

Forex, Commodities, Indices, Stock CFDs, ETF CFDs, Cryptocurrencies

Maximum Leverage

1:500

1:500

1:500

Minimum Spread

0.35

0.28

0.28

Account Setup

Free

Free

Free

Minimal Order

0.01

0.1 lot (Can be increased with lower leverage by contacting support team)

0.01

Segregated Account’s Funds

Yes

Yes

Yes

Trading Platforms

xStation and MetaTrader 4

xStation and MetaTrader 4

xStation and MetaTrader 4

Automated Trading

Yes

Yes

Yes

Account Management

Free

Free

Free

Cash Stocks

Not Applicable

Not Applicable

Not Applicable

Forex, Commodities, Indices

No Commission

Commission from $3.50 per lot

Commission from $10 per lot

Stock CFDs and ETF CFDs

Commission from 0.08% per lot

Commission from 0.08% per lot

Commission from $10 per lot

Cryptocurrencies

No Commission

Commission from $3.50

Not Applicable

Swap

Yes

Yes

Swap Free

 

Account Opening

Opening an account on XTB is fast, straightforward, and fully digital. The minimum deposit for opening an account is $250 for clients from the UK. Other EU clients do not need to deposit a minimum amount. It only takes around 30 minutes to fill out the forms and submit all necessary documents. After that, the account is verified within a day.

You need to follow these easy steps to open a trading account on XTB:

  1. Provide your contact information like email address and country of residency.

  2. Fill in some personal information such as address and date of birth.

  3. Choose your preferred trading platform, account type, and account base currency.

  4. Answer some questions about your financial status, employment status, and trading experience.

  5. Verify your identity and residency by uploading the required documents and activate your account. 

Some European clients are able to verify their identity via video. If that does not work, you can upload a copy of your passport, photo ID, or driver’s license. Bank statements and utility bills can be submitted as proof of residency. 

Deposit and Withdrawal

Depositing funds, as well as withdrawing amounts from your XTB trading account, is easy and quick. The broker offers several methods to suit the individual needs of all users. Payment methods include bank transfer, credit card, and electronic wallets like PayPal, Skrill, Paysafe, SafetyPay, and Neteller. Bank transfer and credit cards are free. However, Paysafe charges 2% of the deposited amount, SafetyPay charges 1.5%, and Neteller charges 1%.

To deposit money to your account, you need to follow these simple steps:

  1. Log in to the ‘Client Office’.

  2. Go to ‘Deposits’.

  3. Select your trading account and payment method. 

Withdrawals from XTB accounts take one business day in general. The payments are processed in SHA model and the full cost charged by the sending bank is covered by it. All other potential costs charged by the beneficiary and intermediary bank are paid by the client as per the commission tables of those banks. If you withdraw less than $50, then an additional commission of $30 will be charged. 

How to withdraw money from XTB?

You can withdraw money from XTB accounts in your name by following these steps:

  1. Log in to the trading platform.

  2. Click on ‘Deposit and withdraw fund’ on the bottom right.

  3. Enter your bank account details and the amount you want to withdraw.

  4. Now, you can initiate the withdrawal. 

Commissions and Fees

XTB offers a very transparent fees structure so the clients can find everything they need on the website. The trading fees and non-trading fees on XTB are low. The forex and stock index CFDs fees are especially low, while stock CFD fees are a bit high. 

Trading fees

XTB has categorised fees structure for different assets. The payment method for paying fees depends on your account type. You pay only spreads at a standard account. However, at Pro accounts, you will need to pay commissions along with the markets spreads. The minimum deposit required for trading differs from country to country. For example, the minimum deposit in the United Kingdom is $250. However, no minimum deposit is required for clients in other countries in Europe. You need to ask the customer service about the minimum deposit for your country before you open an account. 

Forex trading fees

Forex benchmark fees on XTB for a long position of $20,000 held for a week on the leverage of 30:1 are:

  1. EURCHF: $6.6

  2. EURGBP: $9.9

  3. AUDUSD: $10.0

  4. GBPUSD: $11.1

  5. EURUSD: $15.0

CFD trading fees

If a long position of $2000 is held for one week, then CFD fees are:

  1. S&P 500 index CFD fee: $2.0

  2. Europe 50 index CFD fee: $2.2

  3. Apple CFD fee: $17.9

  4. Vodafone CFD fee: $20.9

Real stock and ETF trading fees

Real stock fees on XTB are average. Stock and ETF commissions of a $2000 trade are:

  1. German stock: $8.8

  2. UK stock: $10.0

  3. US stock: $10.0

Non-trading fees

Like trading fees, the non-trading fees on XTB are also low. There are no account fees or inactivity fees. You also do not have to pay a withdrawal fee if you withdraw amounts above $50. The conditions vary in different countries. For instance, there is no account fee at the UK entity, but there is for Polish clients. The withdrawal fee also depends on the base currency of the trader’s account. 

Trading Instruments and Markets

XTB offers more than 1500 instruments to trade across multiple markets, including Forex, Cryptocurrency, Commodities, Indices, Shares, Stocks, Bonds, CFDs, ETFs, Metals and Energies. 

Forex trading: You can trade over 45 Forex currency pairs on XTB 24 days a day and 5 days a week. Spreads start from just 0.1 pips. Micro-lot trading is available. For Forex currency pairs, the leverage can go up to 1:200. However, it is only 1:30m for EU clients due to the restrictions set by the European Securities and Markets Authority (ESMA).

Cryptocurrency trading: XTB offers the option of trading the most popular Cryptocurrencies on its trading platforms, such as Bitcoin, Ethereum, Ripple, Dash, Litecoin and more. Spreads stay competitive on a 365-day contract expiry along with high liquidity.

Indices trading: Traders can trade more than 20 indices from all over the world including Germany, USA, and China. Spreads remain highly competitive while traders are provided with the convenience to trade long or short, based on their preferences. You will not have to pay any overnight costs if a position is open until the next day. 

Share CFD trading: You can trade more than 1500 Global Stock CFDs on the trading platforms of XTB. These CFDs include Apple and Facebook. Commission of share CFD trading is low from 0.08%. You can trade either short or long and benefit from XTB’s negative balance protection. 

ETF trading: You can also trade Exchange Traded Funds on XTB. It offers more than 80 ETFs for trading with commission just from 0.08%. Apart from negative balance protection, no requotes and market execution are also provided. 

Commodities trading: Popular commodities can be traded on XTB as well. With competitive spreads and no overnight costs, you can trade commodities such as Gold, Silver, Oil, Natgas, Cocoa, Coffee, and Corn. 

Trading Platforms and Tools

xStation 5

xStation 5 is the award-winning platform of XTB with easy user-interface that is a great option for both new and experienced traders for fast results due to superior execution speeds. 

xStation 5

What makes the xStation 5 trading platform different from others?

By using this trading platform, you can trade from anywhere with the professional analytical tools in your pocket. It allows traders to trade more than 4000 instruments including CFDs for Forex, Indices, Cryptocurrencies, Stocks, Commodities, and ETFs from all over the world. Moreover, this platform is built with a simple and intuitive design that is created for traders so they can manage their investment easier and quicker. 

xStation 5 Web and Desktop Version

The Web Trade Platform of xStation 5 is intuitive to use and also provides access to more advanced tools for pro traders. It is compatible with all major browsers like Chrome, Firefox, Opera and Safari. Apart from the web version, you can also use the desktop version for computers with Windows and OS X. On the official website of XTB, versions for 32b, 64b, and Mac are available to download. 

Key Functions of xStation 5 trading platform

Product range/availability of instruments: As mentioned earlier, you can trade contracts for Forex, Cryptocurrencies, Indices, Stocks, and Commodities from the single XTB platform and a single account. It is over 4000 instruments altogether. 

Comprehensive charts: Traders can track every price movement by using clear charts on xStation. You can adapt the appearance of charts according to your trading methods. This way, you can respond to the changes in the market more effectively. 

Easy trading and risk management: Thanks to the built-in trading calculator, traders can estimate costs, profits and losses easily before opening the position. You can modify SL and TP levels on the chart directly and also close all open positions with just a click.

Stay in touch: The award-winning analysis team of XTB keeps traders close to major breaking news. By keeping an eye on the economic calendar, you can always be ready to respond well to the upcoming macroeconomic events and grab opportunities in favour of your trading method.

Access to market sentiments: By following the XTB clients around the world, you can see how they position themselves on individual markets. On xStation 5, you may filter the instrument classes and also add your own. 

MetaTrader 4

One of the most popular trading platforms, MetaTrader 4 is simple yet powerful. Traders benefit from its easy user-interface, as well as various inbuilt analytical tools. By using this platform, you also become part of an ever-growing community that helps you to add an indicator, oscillators, and automatic strategies. 

Special features of MetaTrader 4

Optimise your technical trading: MetaTrader 4 offers a powerful pattern recognition tool that can be used to spot new trends to trade. With this tool, you can determine entry and exit points, and also set profit taking levels and stop loss. You can enter and exit trades quickly with this one-click dealing system of MetaTrader 4. 

Strategy Tester: With the MetaTrader Strategy Tester, you can test and optimise your trading strategies. By backtesting your strategies on all market assets and intervals, you may find the best trading solution for yourself.

Expert Advisors: Expert Advisors are the most unique feature of MetaTrader 4. You can opt for automated trading by utilising the EAs. Many solutions for automated trading are available to choose from the MQL4 community.   

User Experience

Mobile Trading

It is not always convenient to be on the desktop or laptop, which may result in missing trading opportunities. This is why XTB offers the option of mobile trading to its users as well so you can always monitor your trades from anywhere. Both the xStation 5 and MetaTrader 4 have mobile apps.

xStation Mobile

Apart from all functions of xStation 5 web and desktop version, xStation mobile app has a dark mode. You can customise the layout of the app by choosing between light and dark mode. Not only it saves the battery of your phone but also keeps clarity. You can use this app on both iOS and Android devices.

xStation Mobile

Download link:

MetaTrader 4 mobile app

MetaTrader 4 also offers mobile apps for iOS and Android devices and provides you with the opportunity of trading markets anywhere and anytime. You analyse market trends and execute transactions simply on these apps. 

MetaTrader 4 mobile app

Features of MetaTrader 4 trading app

The unique and powerful features of MetaTrader 4 make it popular among traders from all over the world. The most important features include:

Trading features:

  1. Real-time quotes of Forex market

  2. All types of trade execution

  3. Complete set of trade orders including pending orders

  4. Detailed online trading history

Advanced trading features:

  1. Fast switching between charts and financial instruments

  2. Free financial news daily

  3. Connection with hundreds of Forex brokers

  4. Trade levels visualising the costs of pending orders and SL and TP values on the chart

  5. The convenience of chatting with any registered MQL5 community trader

  6. Sound notifications to assist trading

  7. Support of push notifications from the desktop version of MetaTrader 4 and MQL5 community services

  8. Customisable Forex chart colour schemes

Technical analysis: 

  1. Interactive real-time Forex charts with options of scrolling and zooming

  2. 3 types of charts for efficient trading: bars, broken line, and Japanese candlesticks

  3. 9 timeframes: 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 1 week, and 1 month

  4. 24 analytical objects: lines, geometric shapes, channels, Gann, Fibonacci and Elliott tools

  5. 30 most popular technical indicators

Download link:

Research

XTB offers a range of user-friendly research tools that help traders to choose instruments for trading. It offers the news flow with some trading idea recommendations as well. You can find the research tools of XTB on two sources. One is the ‘Market Analysis’ section on the XTB website, and other is the xStation 5 trading platform. The research tools are available in many languages, including English, Chinese, and Arabic. The best part is, even if we set the platform’s language to English, news commentary is still available in our own language. 

Education

Education Section: XTB offers well-organised and clear education with written and video materials, as well as trading platform tutorials under the ‘Trading Academy’ section. In this section, a tutorial about MetaTrader 4 and xStation is provided. Apart from these, it offers lessons on Introduction to CFDs, Fundamental Analysis, and Introduction to Forex. You can learn better trading quality ebooks, educational articles, general educational videos and platform tutorial videos offered by XTB. Traders can also attend XTB Webinars and practise on a demo account. The high-quality and logically structured educational material is also categorised by the trading experience level of the users so can they understand it easily. 

Demo Account: XTB offers a demo account for novice traders so they can practice trading and apply new methods and strategies without the risk of losing real money. The demo account of XTB offers over 1500 global CFD markets, trade of Forex, Shares, Indices and Commodities, 4 weeks of risk-free trading with $100k virtual funds, powerful platforms like MetaTrader 4, tight spreads from 0.2 pips, and customer support 24 hours a day and 5 days a week.

To open a demo account on XTB, click on the ‘Try a Demo’ option on the homepage. You will be redirected to the demo account opening page. Fill in the registration form there and confirm your account via telephone or email. Then you can log in to the demo account and start trading after choosing your XTB demo account platform. 

Customer Service

Phone and live chat support provided by XTB are fast and reliable. Traders can contact the support team in many languages. The service is available for 24 hours a day and 5 days a week for European clients.

Safety and Security

XTB is authorised and regulated by many financial authorities, including the major authority FCA. Moreover, the company is listed on a stock exchange and its financial statements are disclosed regularly. So, it is a safe place for trading. 

Final Thoughts

After an in-depth observation of the broker, it can be said that it is for clients that prefer Forex or CFD trading. It is also a great option for people that want a fast account opening, a demo account, and convenient deposit and withdrawal options. 


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