X-Trade Brokers - XTB Review

1. What is XTB?
2. XTB Pros and Cons
3. Awards
4. Is XTB safe or a scam?
5. Leverage
6. Accounts
7. Fees
8. Spreads
9. Market Instruments
10. Deposits and Withdrawals
11. Trading Platform
12. Customer Support
13. Education
14. Conclusion

Our Review Method

• 55Brokers Financial Experts with over 10 years experience in Forex Trading check trading offerings, fees, platforms, verified regulations, contacted customer service and placed traders to see trading conditions and give expert opinion about XTB

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 that introduced forex trading in Poland, and now became 4^th listed largest stock exchange company.

XTB was first established in Poland, in 2002, it is Poland’s one of the first leveraged foreign exchange brokerage companies. In 2004 it became compliant with new regulations and rebranded to its current incarnation: XTB Online Trading (XTB). The company went public on the Warsaw Stock Exchange under the ticker symbol “XTB” back in 2009.

Where is XTB based?

XTb withholds global providers of FX and CFDs headquartered in London and Warsaw, also XTB has multiple offices in 12 countries in Czech Republic, Hungary, Italy, Turkey, Chile, Belize, Germany, Slovakia, Portugal, Romania, Spain, France, providing dedicated service and support on a 24 hours basis.

XTB Pros and Cons

XTB is a reliable broker with good regulation and also is one of the best Poland Forex Brokers. Operating for many years XTB provides good conditions for beginners and professional traders, with low costs and excellent support, including learning and research materials. XTB both the web platform and mobile app are packed with tools and are good for CFDs trading or day trading.

On the other hand, XTB doesn’t provide 24/7 support and conditions may vary according to entity rules. Also, we noticed that MetaTrader 4 (MT4) is no longer promoted at XTB’s U.K., Poland, and Cyprus branches.

Overall XTB Ranking

Based on our Expert finds and reviews, XTB is considered a good broker with quality service and trading conditions, that are suitable for beginners or experienced traders. The broker is highly regulated holding multiple licenses across the globe.

We also noticed the broker offering competitively lowest spreads. with no or little transaction fees. Another advantage is that it has no minimum deposit requirements meaning traders can start trading with deposits as low as $1. The only disadvantage is the lack of MT4 for some jurisdictions and no 24/7 support.

• XTB Overall Ranking is 9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.

Alternative XTB Brokers

However, XTB’s instrument offering is mainly limited to Forex and CFDs, also the international entity that provides different trading conditions and a range of instruments and platforms.  Despite the good conditions, low spreads, and quality education, we recommend you consider our selection of Alternative Brokers below:

• Dukascopy – Excellent for Shares, Futures Trading
• AvaTrade – Good Instrument and CopyTrading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks

Awards

The broker performs its operation as a group, which has also won a notable amount of awards for both the technology and service they develop. Some of the latest recognitions include awards as Highest rated FX & CFD Broker voted by Wealth & Finance International Awards, and others, which all in all prove the company’s good standing and professional approach.

Is XTB safe or scam?

No, XTB is not a scam, being a European established brokerage accordingly follows and holds necessary registrations and regulations including top tier FCA license, considered a low-risk trading broker.

Is XTB regulated?

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

FCA, being one of the most reputable and sharp authorities within the financial industry, delivers security of funds provided to the clients under the Financial Services Compensation Scheme (FSCS).

See our conclusion on XTB Reliability:

• Our Ranked XTB Trust Score is 9 out 0f 10 for good reputation and service over the years, also reliable top-tier licenses, and serving regulated entities in each region it operates. The broker ensures clients’ safety by providing account protection and is fully compliant with regulations

How are you protected?

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

Even though XTB serves additional entities in offshore zone Belize, together with its establishment standards we would consider broker a safe trading environment. While solely offshore firms are not recommended due to the high risk to be scams.

XTB Leverage

We found that for European entities, the XTB does not offer high leverage ratios recently due to the updates from the EU regulation ESMA. However, traders can sign in to international entities to get a margin for trading.

• The traders may use a maximum of 1:30 level towards Forex instruments, 1:5 towards Stocks, and even lower for 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 toward money loss. Thus, 1:30 is still a good level to maintain potentially successful trading, yet with lower risks involved.
• However, XTB international entity may offer high leverage up to 1:500 for international clients in case your residence allows so. You may check more details through the official website in this regard.

Account types

Based on our research, XTB provides 1 account type – Standard Account where you can choose to trade with all costs built into a spread.

Besides, our experts found out that there is a specified Islamic Account for traders following Sharia laws with suited conditions and applicable laws available once traders’ status is confirmed.

How to open a trading account with XTB?

XTB account opening is fast and straightforward. Below are the main steps you will need to cover to accomplish the process of an account opening:

• Enter your email address, country of residence, and account password
• Enter the full name, date of birth, nationality, passport number, and Tax identity
• Mention the physical address (street, building no./name, flat no, postcode, and city)
• Choose your preferred offerings (a trading platform, account type, currency, and language)
• Give full answers to questions about the prior experience
• Provide National ID or Passport and a bank statement

Trading Instruments

The general trading service offering includes a wide selection of opportunities, through a range of global markets over 1500, including Forex, Indices, Commodities, Crypto, Equity CFD, and ETFs.

Another separate mention worth a Crypto trading which includes trade on Bitcoin, Ethereum, Dash, Ripple or Litecoin by CFDs on a 24/7 basis, with no requirement to hold a 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.

Note that Cryptocurrency CFDs are not available to retail traders from any broker’s U.K. entity, nor to U.K. residents.

• XTB Markets Range Score is 8.4 out 0f 10 for wide trading instrument selection, yet the only gap European entity offers mainly CFDs and Forex Instruments, and a wider range is only available for International clients

What are XTB fees?

XTB’s 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 the active trader. However, be sure you check a correct proposal since FCA-regulated trading conditions and international proposals vary.

• XTB Fees are ranked low with an overall rating of 8.9 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on entity offering, see our findings of fees and pricing in the table below, however, XTB overall fees are considered good.

Spreads

XTB accounts feature approximately the same options and benefits provided by XTB, apart from the difference in swap rates and spread level which is diverse from 0.35 pips for Standard.

Generally considering the average fees offered by XTB, we would say they stand at quite average level and are rather competitive and low. Also, there are good conditions for Stock CFDs trading.

• XTB Spreads are ranked low with an overall rating of 9.1 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average of 0.8 pips for EURUSD, and spreads for other instruments are very attractive too

For better understanding check out typical spreads at Standard accounts mentioned as reference below and also compare XTB fees to another popular broker Eightcap.

Overnight fees

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 sells ‘short’. The fee originally varies from one currency to another, for example, EUR/USD rollover on buying position is -12.037 while selling will let you gain 5.795. 

Deposits and Withdrawals

There are several ways to deposit funds into the trading account, including the most popular and secure payment methods, so you can easily transfer funds. Yet, always be sure to verify conditions and methods with customer service as various conditions apply according to regulations.

• XTB Funding Methods we ranked Excellent with overall rating 8 out of 10. There’s no minimum deposit requirements, yet Fees are either none or very small also allowing to benefit from various account-based currencies, yet deposit options vary on each entity

Here are some good and negative points for XTB funding methods found:

What is the minimum deposit for XTB account?

XTB applies no minimum deposit requirement rule, while active traders and PRO account may require some balances in order to cover all necessary margins.

XTB minimum deposit vs other brokers

	XTB	Most Other Brokers
Minimum Deposit	$0	$500

Withdrawals

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

How to withdraw money from XTB?

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.

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.

• XTB Platform are ranked Excellent with overall rating 8.3 out of 10 compared to over 500 other brokers. The broker offers great quality proprietary platform and MT4. However, MT4 is available only in selected regions

Trading Platform Comparison to Other Brokers:

Web 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. However, always be advised that Web Platform is easily accessible via any browser but less comprehensive and packed with tools as a desktop platform.

Desktop Platform

So for day trading and professional traders definitely you would need a desktop platform with all the settings available, that includes also 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 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.

Mobile Platform

Customer Support

Based on our testing, XTB provides excellent support with relevant and fast answers, since Broker’s team is available around the clock and supports international languages accessible via Live Chat, email, and phone lines in various regions including the UK and International as well.

Yet, customer service isn’t available during the weekends, so you can leave your request via the contact form to be advised.

• Customer Support in XTB is ranked Excellent with an overall rating of 9 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared to other brokers,  also quite easy to reach during the working days. However, the support is not available 24/7

See our find and Ranking on Customer Service Quality:

XTB Education

Since XTB Review sees brokers’ goal to help develop each and every trading strategy so that clients can become profitable over the long term.

The XM provides a comprehensive educational program designed to develop skills and knowledge for every step with video tutorials and guides from Trading Academy, online webinars and live market analysis, a community of minded traders – XTB’s Trading Club, one-to-one mentoring, and development managers.

• XTB Education ranked with an overall rating of 9 out of 10 based on our research. XTB provides very good quality Education Materials, and excellent research, also cooperates with market-leading providers of data, and provides free Webinars, Excellent Trading videos, and Analysis

XTB Review Conclusion

Overall, our research showed XTB as a multi-asset broker that 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 regard. While testing XTB, our experts checked the benefits, and we can assure clients will sustain a long-term relationship with the broker since XTB’s main objective is building durable cooperation with active traders.

One of the main broker’s advantages is low spreads and low-cost commission. Xstation5 is well-functional and intuitive which, in our opinion, is a great plus. Broker’s MT4  offers “expert advisors,” back-testing, and auto-trading for the more technologically advanced trader, however, the platform is not available in every jurisdiction but it can be obtained by simply changing your entity. Overall, XTB is best suited for cost-conscious clients wishing to engage in trading the retail foreign exchange markets.

Based on Our findings and Financial Expert Opinion XTB is Good for:

• Trading Currency pairs and CFD trading
• Scalping trader
• Traders who prefer MT4
• Experienced traders and beginners
• EA trader
• Suitable for a Variety of Trading Strategies
• Scalping / Hedging Startegies