X-Trade Brokers - XTB Review

What is XTB?

XTB is a trusted UK and European market leading brokerage providing online trade solutions, through its headquarters in Poland and London (UK). XTB broker was actually the first firm which introduced forex trading in Poland, and now became 4^th listed largest stock exchange company.

XTB withholds global providers of FX and CFDs with offices in 12 countries in Czech Republic, Hungary, Italy, Turkey, Chile, Belize, Poland, Germany, Slovakia, Portugal, Romania, Spain and France, providing dedicated service and support on a 24 hours basis. The broker performing its operation as a group, which has also won a notable amount of awards for both technology and service. One of the latest recognition

Highest rated FX & CFD Broker of 2018 | voted by Wealth & Finance International Awards

General brokerage and trading service offering includes a wide selection of opportunities, through a range of global markets over 1500, including Forex, Indices, Commodities, Crypto, Equity CFD, ETFs. Another mentioning worth a Crypto trading which includes trade on Bitcoin, Ethereum, Dash, Ripple or Litecoin by CFDs on 24/7 basis, with no requirement to hold wallet, leverage till 1:5 and quite cheap swaps – long 0.08% a day, short 0.04% a day and spread calculated only by 1% from target. 

XTB is their goal to help develop each trading strategy, so that client can become profitable over the long-term. The comprehensive educational program develops skills and knowledge for every step with video tutorials and guides from Trading Academy, online webinars and live market analysis, community of minded traders – XTB’s Trading Club, one-to-one mentoring and development managers.

However, you should always check the most important information that the broker’s offering consists of. With this purpose, in this review we cover the following highlights:

• Is XTB safe or a scam?
• XTB Trading Platform
• Fees that consists of spread and overnight fee
• XTB Leverage
• Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
• Conclusion on XTB

Is XTB safe or a scam?

XTB being European established brokerage accordingly follows and holds necessary registrations and regulations. The UK registered XTB company is respectively regulated by the biggest supervision authority the Financial Conduct Authority, is also regulated by KNF, and CMB.

Considering a strong reputation and sharpest guidelines of the regulation (read more about why trade with FCA regulated Brokers), XTB bringing confident trade with high protection. And actually, this is the main topic you should stick to while choosing a broker to trade with, means check carefully authorization of the company, as this is the only criteria that delivers a safe trading environment.

At XTB Limited, the safety of funds is paramount, therefore all client funds are held in a segregated account at all times, as well protected by the FSCS up to £50,000 per person in the unlikely event of insolvency.

XTB Trading Platforms

XTB offering two main platforms that client is able to choose from, as a mainstay XTB uses xStation5, which been recognized as an efficient choice and gained multiple awards for total trade transparency, real time commentary, execution speeds and very comprehensive charting package.

xStation 5 voted ‘Best Trading Platform 2016’ by Online Personal Wealth Awards

Forex Magnates 2012 | Best proprietary fx platform

Nevertheless, the platform is fully customizable and very fast, including useful tools like calculators, advanced charts, trader statistics, bulk order closing, traders talk and progressive technical analysis. All settings, watch lists and workspaces are accessible from desktop, smartphone, laptop, tablet and even smartwatch.

XTB platform includes also a useful Market sentiment and displays the current situation of selling or buying trend of each market, as well as Top mover showing which markets gaining or losing. Another addition equity screener that filters stocks and searching for new opportunities.

Second offered by XTB platform is known to all trading world MT4, however, XTB enhanced features by fast, reliable trade execution, multi-asset coverage, No dealing desk execution, no requotes and all supported by Expert Advisors.

XTB Trading Fees

XTB provides three types of trading accounts, while generally, XTB operational strategy shows a good value for money. The offering is based on tight spreads from 0.3 pips on market level execution along with bonuses for active trader.

Available accounts divided into Basic Account, Standard and Pro Account. Generally speaking, accounts featuring approximately the same options and benefits from the company, apart of the difference on swap rates and spread level which diverse from 2.0 pips for Basic, 0.35 pips for Standard and 0.28 for Pro accordingly, also in Basic account spreads are fixed and automated trading is not available. For better understanding check out typical spreads at Standard accounts and also compare XTB fees to another popular broker AvaTrade.

For the XTB overnight fee or knowns as a swap rate, the broker charges a differential determined between the two currencies involved in the pair and whether the position is a buy ‘long’ or sell ‘short’. The fee originally varies from the currency to another, as an example, EUR/USD rollover on buying position is -12.037 while selling will let you gain 5.795.  

XTB Leverage

Being a European based broker, the XTB does not offer high leverage ratios recently due to the updates from the EU regulation ESMA. The traders may use a maximum of 1:30 level towards Forex instruments, 1:5 towards Stocks and even lower to some additional assets. Nevertheless, these restrictions are definitely done to protect trading orders and accounts themselves, as the higher leverage ratios may impose a significant risk for any trader towards money loss. Thus, 1:30 is still a good level to maintain potentially successful trading, yet with lower risks involved.

XTB Deposits and Withdrawals

There are several ways to deposit funds into the trading account, which includes the most popular and secure payment methods.

As for the minimum deposit amount, the XTB set required a deposit to start 250 US$, while active traders and PRO account may require some more balances in order to cover all necessary margins.

For the funding fees, Bank transfers and payment for both withdrawals and deposits by Credit Cards are free of charge and accepting the following currencies EUR, USD, GBP. Yet, other payment methods incur additional charges – 2% of the deposited amount, these are PayPal and Skrill. 

To withdraw funds from your account, the client has to proceed with online request and choose where to transfer the money (nominated bank). Another pleasant feature that XTB does not charge an inactivity fee.

Conclusion on XTB

XTB as a multi-asset broker provides a well-balanced trading experience while regulated in several major financial centers, hence considered a reliable broker. Beyond quality service, the broker’s powerful platform and offerings to the clients earned excellent ratings and regards. Being a client of XTB you will enjoy the benefits of a long-term relationship that building durable cooperation with active traders as one of the company main objectives. As a whole, XTB’s offers more than usual brokers do and that’s for sure worth clients note.