REVIEWS
XTB Review 2022
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It is headquartered in Poland and London, and it was founded in 2002. The XTB brand was one of the very first companies that introduced Forex Trading in Poland, and it is now considered to be the fourth biggest stock exchange firm in the country. XTB has branch offices and provides financial services to twelve different countries. These countries are the Czech Republic, Hungary, Italy, Turkey, Chile, Belize, Poland, Germany, Slovakia, Portugal, Romania, Spain, and France.
XTB is known for its persistent technical support and customer service that is offered 24 hours and 5 days a week. The brokerage firm offers financial and trading services through an array of trading instruments, such as Forex, Indices, Commodities, Crypto-currencies, Equity CFD, and ETFs. Along with Cryptocurrency trading, there are also instruments that allow trade like Bitcoin, Dash, Litecoin, Ethereum, and/or Ripple by CFDs. These instruments are also offered on a 24/7 basis, with no necessity to hold a wallet and with a maximum leverage level of 1:5.
This XTB broker review is an in-depth analysis of everything there is to know about this trading services provider and what it has to offer.
| XTB Main Features | |
|---|---|
| 🗺️Established in: | 2002 |
| 🏢Headquarters: | London and Poland |
| ⚖️Regulations: | FCA, KNF, and CySEC |
| ⚖️Country of regulation: | UK, Poland, and Cyprus |
| 💰Minimum Deposit: | $250 |
| 🖥Platforms: | MT4 and xStation5 |
| 🎮Demo Account Available: | Yes |
| 💱Leverage: | 1:30 |
| 💰Withdrawal fee amount: | $0 |
| 💰Inactivity Fee: | No |
| Pros | Cons |
|---|---|
| • Regulated by the Financial Conduct Authority (FCA) | • Poor email support for customer service |
| • Range of trading instruments | • Not available for 24\7 |
| • No deposit fee and withdrawal fee | • Does not have a banking license |
| • Easy and fast to open an account |
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The XTB brand was one of the very first companies that introduced Forex Trading in Poland, and it is now considered to be the fourth biggest stock exchange firm in the country.
Safety & Regulation
XTB is a secure and established European forex brokerage firm that offers online trading services across the globe. XTB as a regulated European brokerage firm means that it must abide by the financial laws in place by ESMA. XTB maintains three European licenses, the Komisja Nadzoru Finansowego (KNF), a license from the Cyprus Securities and Exchange Commission (CySEC), and the FCA, the UK Financial Conduct Authority.
XTB offers a combination of safety and exceptional trading solutions. With XTB, the protection of client information and trading funds is a priority. This is why all of the customers’ funds are put in segregated, isolated accounts to avoid being used in the corporate funds. XTB also offers the added layer of protection to prevent risk warning, where each client has up to fifty thousand Euros, in the off-chance of insolvency.
With the rules and regulations that are applied by the FCA, and XTB’s own safety procedures, it is safe to say that XTB is a good choice for traders of both novice and expert experiences.
The protection XTB provides is an extra layer of protection that will prevent traders from facing any financial loss. This includes storing client funds in segregated accounts and providing negative balance protection for traders. They also provide investor protections, but it does not apply to all clients, depending on their place of residence.
| Pros | Cons |
|---|---|
| • Regulated by the Financial Conduct Authority of the UK (FCA) | • Does not have a bank license |
| • Stores client funds in segregated accounts | |
| • Provides negative balance protection | |
| • Provides investor protection |
Fees
They also do not have the requirement of an inactivity fee, or other account fees. They have an overnight fee, and their stock CFD fees can be seen as high.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • Stock CFD fees are high |
| • No deposit fee | • Overnight fee is required |
| • No account fee | |
| • Low trading fees |
Trading Fees
XTB offers two trading accounts, while its execution trading strategy shows its understanding of how money is valuable. The provision is based on tight spreads from 0.3 pips on market level operations, and bonuses for active consumers.
The trading accounts are more or less the same, except for the difference in spread levels and swap rates that differ; the Standard Account is 0.35 pips and the Pro Account is 0.28 pips.
XTB has an overnight fee, also known as a swap rate, where the brokerage firm charges a fee that is determined between the two different currencies that are involved in the pair, whether the financial position is either sell “short” or buy “long”. The trading fee differs from one currency to other.
XTB Deposit And Withdrawal Fees
With XTB, there are no deposit and withdrawal fees. You will not be charged with any fees when you make a deposit or a withdrawal. However, if you are using electronic wallets, such as Neteller and Skrill, you will automatically be charged with 2% of the deposited amount. As for withdrawal, if you are withdrawing an amount that is below 100USD, you will be required to pay a withdrawal fee.
| Deposit Fees and Withdrawal Fees | ||||
|---|---|---|---|---|
| Withdrawal Fee | 0USD | |||
| Minimum Withdrawal Limit | 0USD | |||
| Minimum Deposit | 0USD | |||
Account Opening
Opening any account type with XTB, it is fairly easy and direct, since it is all completely digital. Traders will need to fill out the necessary forms and they can submit all the required documents in a span of 30 minutes. The languages supported in XTB include English, Polish, Czech, German, Spanish, French, Hungarian, Italian, Portuguese, Romanian, Russian, Slovenian, Turkish, Chinese, and Japanese.
| Pros | Cons |
|---|---|
| • Low minimum initial deposit | • None |
| • Demo account available | |
| • Free account set-up | |
| • Easy to open an account | |
| • Negative balance protection provided for Standard and Pro Accounts |
XTB Standard Account
There are two types of trading accounts with XTB: the Standard Account and the Professional Account.
The Standard Account is the account that most traders use who are starting out in the industry. You can choose through over 1500 trading instruments, with market execution and a fixed maximum leverage level.
| Pros | Cons |
|---|---|
| • More than 1500 instruments available | • Minimum initial deposit required of 250USD |
| • Negative balance protection available | |
| • Account opening and management are free | |
| • Available on both trading platforms |
XTB Professional Account
Another XTB trading account available, is the Professional Account, which targets mostly those who are experienced in the trading industry. XTB provides an account that is more advanced, but the benefits are the same.
The Pro Account offers free account set-up and management, provides negative balance protection, and automated trading. You’ll find that the execution is market and you will have a fixed leverage level of 1:30.
| Pros | Cons |
|---|---|
| • Negative Balance Protection provided | • Minimum initial deposit required of 250USD |
| • Free account setup and management | |
| • Over 1500 trading instruments available |
XTB Demo Account
The Demo Account is available for all traders to use, in order to experiment with the trading platform without facing any financial loss. The Demo Account is available to try both the in-house trading platform of XTB, xStation5, and the famous trading platform of MetaTrader4.
You can use the Demo Account to experience the trading platform and its assets, through the simulation for free and for unlimited time.
| Pros | Cons |
|---|---|
| • Free Demo Account | • None |
| • Easy to open a Demo Account | |
| • Available for xStation5 and MT4 | |
| • No financial loss |
How To Open An XTB Account
STEP ONE: Enter your email and the country of residence, and create an account password that will be used to log-in to your trading account and platform on XTB
STEP TWO: Fill in online application with your personal information
STEP THREE: Provide your current place of residence and postal code
STEP FOUR: Choose your preferred language, base currency, trading account, and trading platform you would like to continue with
STEP SIX: Fill out the questions on your average trades on various trading instruments per month, and other trading inquiries to test your knowledge
STEP SEVEN: Confirm that you know the trading risks that could take place with trading CFDs and XTB
STEP EIGHT: Open your account and start trading
Deposit & Withdrawal
There are no deposit fees, which mean that you will not be charged for depositing funds to your account. However, electronic wallets automatically charge 2% of the deposited amount, as per the method’s regulations.
| Pros | Cons |
|---|---|
| • No deposit fee | • Some payment methods are available for certain jurisdictions |
| • Different payment methods | • Deposit methods might charge a 2% fee |
| • Fast deposit process |
XTB Deposit Options
- Bank Transfer
- Credit/Debit card
- Electronic Wallets
Withdrawal
With XTB, there are no withdrawal fees, if your withdrawal amount is more than 100USD. If your withdrawal amount is more than 100USD, it is free.
However, you will only find one withdrawal option, bank transfers. For the withdrawal process, it is pretty fast with the bank transfers, normally taking two to three business days.
| Pros | Cons |
|---|---|
| • Fast withdrawal process | • Only one withdrawal option |
| • No withdrawal fee | • Withdrawal fee if below 100USD |
XTB Withdrawal Options
- Bank Transfer
- Credit/Debit card
- Electronic Wallets
Trading Platforms
With XTB, there are two main trading platforms for customers to choose from. The first trading platform would be the in-house XTB platform, xStation5, which is an efficient and effective option to use for trading. xStation5 has been globally rewarded for its transparency in operations, its accuracy in real-time, its speedy executions, and its thorough charting offer.
The trading platform also offers the ability for clients to customize in whichever way they prefer, along with efficient tools; these tools include trader statistics and talk, advanced charts, calculators, bulk order closing, and many others. xStation5 can be utilized through different options, from desktops, smartphones, and even smart-watches.
The in-house XTB trade platform also has a thorough display of the current circumstances of selling and buying trends of each financial market, as well as the option of showing which financial market is gaining and losing.
The second trading platform that XTB offers is the prominent MetaTrader4 or MT4. However, XTB has improved the standard MT4 with different aspects. The MT4 used by clients of XTB would find that it has faster and more reliable trade operations, covers multiple assets simultaneously; NDD executions, no re-quotes, and they are all supported by EAs. You can use the MetaTrader4 platform as a web trading platform, desktop trading platform, or mobile application.
XTB Trading Platforms
- xStation5 (in-house trading platform)
- MetaTrader4
Web Trading Platform
With the MetaTrader4 and xStation5 trading platforms, there are basic order types that any trader can use. These order types are Market, Limit, Stop-loss, and Trailing stop. You will also find the order type of Good Till Time (GTT), which is accessible with the order types.
As for security, there is no two-step login process, so you can only log in through the initial process. However, you can set alerts and notifications on the web trading platform, which is not often found on other platforms. The alerts will notify you of price changes, or when your prices reach their target.
Overall, the web trading platform is easily accessible and accommodating for traders. You will find the search functions are very easy, and you can find accurate fee reports. The fee reports will help you to see past performances and other fees that you have paid in the past.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step login process |
| • Quality search function | • Basic order types |
| • Clear fee report | |
| • Alerts and notifications available |
Desktop Trading Platform
With the MetaTrader4 and xStation5 desktop trading platform, there are basic order types that any trader can use. These order types are Market, Limit, Stop-loss, and Trailing stop. You will also find the order type of Good Till Time (GTT), which is accessible with the order types.
As for security, there is no two-step login process, so you can only log-in through the initial process. However, you can set alerts and notifications on the desktop trading platform, which is not often found in other platforms. The alerts will notify you with price changes, when your prices reach its target, or any events that you need to know that will affect you.
Overall, the desktop trading platform is easily customizable and clear for traders. You will find the search functions are very easy, and you can find accurate fee reports. The fee reports will help you to see past performances, and other fees that you have paid for in the past.
| Pros | Cons |
|---|---|
| • Very customizable options | • No two-step login process |
| • Clear fee reports | |
| • Various languages available | |
| • User-friendly |
Mobile Trading Platform
With XTB mobile trading platform, you can place four basic types of orders. These order types are: Market, Stop-loss, Limit, and Good Till Time. These four basic order types are available for you on the mobile application and you can find it easily, very accessible for traders since the structure of the application is user-friendly.
In regards to security, you will find that there is only an initial login process. There is no two-step login process, which is not essential but it is an extra layer of protection for traders. With XTB, they will be able to only rely on the initial login process. However with iOS devices, you can add fingerprint identification, but that is not applicable with Android devices.
With XTB mobile application, you can add different types of notifications and alerts. It is in the form of a push notification on your mobile settings; you will find that the alerts are to notify you about price changes, market news, and other trading data you would like to know about.
Overall, the XTB mobile trading platform is very accommodating and easily accessible. You can find the order types with ease, and find that placing orders are not a hassle. The two-step login process is not available with XTB, but if you have an iOS device, you can enable the fingerprint authentication. You will also find that there are many alerts and notifications to select from, in the form of a push notification on your device.
| Pros | Cons |
|---|---|
| • User-friendly structure | • No two-step login process |
| • Both platforms available on software | |
| • Price alerts available |
With XTB, there are two main trading platforms for customers to choose from.
Markets & Financial Instruments
XTB is a leading online FX and CFD trading firm situated in Europe, offering access to more than than a total of 1500 instruments from a total of 2 platforms XTB offers their own honor winning xStation 5 as well as the traditional MetaTrader 4. Traders can browse between CFDs on FX, ETFs, Cryptocurrencies, Shares, Commodities and Indices.
| Financial Instruments | ||||
|---|---|---|---|---|
| 9 Currency Pairs | 42 Stock Index CFDs | |||
| 1700 Stock CFDs | 103 ETF CFDs | |||
| 18 Commodity CFDs | 3 Bond CFDs | |||
| 25 Cryptocurrencies | ||||
Markets Research & Trading Tools
There are many resources with XTB. They provide research materials, educational resources, and charting tools to help any trader with anything they need while in a trading session. The resources that you will benefit from during a trading session would be the daily news, the charting tools, and the trading ideas.
With XTB and its resources, you will find that they are very beneficial. The trading ideas are very technical and are very helpful if you need the ideas for a short-term trading solution. However, they are not as structured as you would hope. The daily are quite accurate and updated daily to ensure that you have real-time trading events to consider when making trading decisions.
| Pros | Cons |
|---|---|
| • User-friendly and easy access | • No fundamental data available |
| • Quality and accurate news updates | |
| • Interactive charting tools |
There is also a charting tool on the XTB website, adding 25 indicators, which it can be shared with other traders. The news feed is a feature that is offered by XTB’s team, where there is a mixture of recommendations, trader talks, raw data releases from the economic calendar, and messages about the occurrences in the financial market.
Traders who utilize the economic calendar will be able to see any future events that might take place. The events that are shown for traders consist of a short summary of the event and any previous performance of the relevant assets.
XTB Trading Tools
XTB has trading tools and research tools that traders can directly access instantly. The research tools are all offered in the English language, but there are some reports that are provided in other languages. There are also recommendations for financial news, which are beneficial for short-term and technical news that are relevant to the industry. The recommendations are only available for specific periods of time, but there is a daily report on YouTube for traders. The YouTube report consists of a narrator, who offers their opinion on the assets he tracks.
XTB offers a market sentiment function tool, which provides the percentage of XTB’s clients’ short and long positions in the market, which is tangent to the “heat-map” tool that shows the winners and losers of that particular financial market. The stock screener utilizes fourteen different factors that allow traders to filter the stocks they want to trade with, including the industry, the market capitalization, the country, the debt-to-equity ratio, BETA, and the PE. The final efficient research tool for XTB would be the ETF scanner, which is very similar to the stock screener. There are ten filters that are available for the trader, including the assets’ complete value, and the cumulative return.
| XTB Trading Tools | ||||
|---|---|---|---|---|
| Daily report | Market sentiment function tool | |||
| Stock screener | ETF scanner | |||
| Pros | Cons |
|---|---|
| • Many trading tools | • Mostly available in the English language |
| • Easily accessible | |
| • Daily updated reports |
Customer Service
XTB, have a stellar customer service department. They have multiple forms of customer support for communication, via email, phone, and live chat. You will have the options of different languages available, but you will only be able to reach the customer service for 245, as that is their trading hours.
| Pros | Cons |
|---|---|
| • Many languages available | • Not available 24/7 |
| • Different customer support methods | • Poor email support service |
| • Responses are relevant and accurate |
Means Of Communication
- Live chat
- Phone Support
- Email Support
Many customers have been thoroughly pleased with XTB and its unique features. They have reviewed XTB as a fruitful trading experience, where they found it accommodating and convenient. The customer support has a reputation of being fast and relevant, which is very impressive. Overall the XTB review has been shown to be on a positive note.
Client Education
There are many educational and research resources with XTB that will help you to trade international capital; this includes Webinars, Educational Videos, a Demo Account, Platform tutorial videos, and Quizzes. The educational resources can be divided based on the trading experience and the subjects that they revolve around; one of the most studied subjects is that of currency pairs.
The resources are of good quality, comprehensible, and logically organized. After each lesson, there are quizzes for clients to fill out; this feature is uncommon among other brokerage firms. Additionally, traders can watch educational videos on trading and platform how-to videos that are incorporated into the texts.
STEP ONE: Select your country of residence and fill in your email address
STEP TWO: Fill in your personal information and create an account password
STEP THREE: Start Trading!
Conclusion
They are currently regulated under the Financial Conduct Authority (FCA), which is one of the hardest and toughest financial authorities in the world. They provide many trading instruments, including indices, currency pairs, and cryptocurrency. XTB offers traders two types of trading accounts: the Standard Account, and the Professional Account (Pro). In order to use these trading accounts, you will need to choose a preferred trading platform: the in-house trading platform of XTB xStation5, or MetaTrader4.
In regards to XTB and its fees, the fees are considered relatively low and they do not charge deposit or withdrawal fees. You will be able to deposit through CreditDebit Card, bank transfers, and several types of e-wallets. However, you can only withdraw through bank transfers, which take an average of 2-3 business days. XTB is a trading service provider that has been up and running since 2002, with headquarters in Poland and England.
Frequently Asked Questions
Is XTB a good broker?
XTB is a good broker since they have been regulated by the Financial Conduct Authority or the FCA. They also have been functioning since 2002, which means that they have overcome most of the financial shortcomings.
How long does it take to withdraw from XTB?
The withdrawal process from XTB takes 2-3 business days.
What is the minimum deposit on XTB?
Does XTB have Nasdaq?
How do I fund XTB?
Does XTB charge commission?
Is XTB regulated?
How do I deposit into XTB?
Is XTB safe to use?
Is XTB ECN?
Is xtb a market maker?
Methodology
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Chad Smith
Director of Research & Analysis
Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.