Founded in : 2002
Headquarters : London and Poland
Regulation : FCA
Platforms : MT4 and xStation5
Leverage : 1:30
Minimum Deposit : USD$250
XTB is a financial services provider that resides in Poland and London, with a very emphasized reputation. They are one of the first few firms that have broached the subject of FX trading in Poland, and they currently serve twelve different countries all over the region of Europe. XTB provide 24\7 service to their clients on any trading instruments, and offer a prestigious quality of technical support.
Who Is XTB?
XTB is a secure UK and European brokerage firm that offers online trading solutions. It is headquartered in Poland and London, and it was founded in 2002. The XTB brokerage firm was one of the very few companies that introduced Forex Trading in Poland, and it is now considered to be the fourth biggest stock exchange firm.
XTB have branch offices and provide financial services to twelve different countries. These countries are: 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 for 24 hours and 7 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, ETFs. Along with Crypto-currency 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 wallet and with a maximum leverage level of 1:5.
Licenses And Regulations: Is XTB Safe or a Scam?
XTB is considered to be a European brokerage firm, which means that it must abide by the financial laws that reside in the European financial regulatory agency. The agency that legislate licenses and regulations for financial institutions would be the FCA, the UK Financial Conduct Authority. The current license for XTB would be that of the FCA, which makes it one of the safest and most secure brokerage firms in the world.
Taking into regard the sharp restrictions and the highly-regarded global reputation, XTB is a combination of safety and daring trading solutions. With XTB, the protection of client information and trading funds are 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 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.
XTB 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 of real time, its speedy executions, and their 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 desktop, smart-phones, and even smart-watches.
The XTB in-house platform also has a thorough display of the current circumstances of selling and buying trends of each financial market, as well as the option on 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.
What are XTB’s Trading Accounts?
With XTB, there are two types of trading account, disregarding the Demo Account; the two types of trading accounts would be the Standard Account, and the Pro Account. The two accounts are fairly similar with only a differentiation in trading fees. The Standard Account consists of spreads, with no commission to be charged for Commodities, Stock Indices, and\or Forex. The Pro Account has tighter spreads and there is a charged commission for Commodities, Stock Indices, and\or Forex.
In order to open an account 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 provided in XTB include English, Polish, Czech, German, Spanish, French, Hungarian, Italian, Portuguese, Romanian, Russian, Slovenian, Turkish, Chinese, and Japanese.
Clients will need to provide their personal information, choose between the two options of the trading platforms they would like to use, the language they prefer, and their base currency that they would be trading with.
XTB Trading Fees and Conditions
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.
Since XTB is a European brokerage firm, the maximum leverage ratio is not generally high; this is because of the EU regulations from the ESMA. The clients of XTB have a maximum leverage level of 1:30 towards Forex trading tools, 1:5 towards Stocks, and it is even lower to added assets. The limitations exist because they protect trading orders and trading accounts; high leverage ratios may leave the client in financial risk towards significant monetary loss. The maximum leverage ratio of 1:30 is a good ratio to maintain successful trading, and prevent any significant loss.
What are XTB’s Methods of Deposits and Withdrawals?
With XTB, there are various methods to deposit funds into a trading account, including the most trending and the safest payment options. The minimum deposit amount is 250USD, while active clients and PRO Account traders may need more financial balances to cover all the required margins. For any funding fees, banks transfers and bank transactions by credit cards for both deposits and withdrawals are free of charge. There are other financial methods that require additional charges, two percent of the deposit amount; these methods are PayPal and Skrill.
In order for clients to withdraw funds into trading accounts, XTB customers have to continue with an online request and decide where the money should be transferred. However, a benefit for clients is that XTB does not charge any traders for an inactivity fee.
There are many educational and research resources with XTB, including 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. The resources are in 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.
XTB also offers 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 on 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.
There is also a charting tool on the XTB website, with adding 25 indicators, where 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 on 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.
Finally, 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 P\E. 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.