XTB Broker Review
[yasr_overall_rating]This XTB review explores a trustworthy broker which is a great choice for any type of trader, regardless of expertise, trading style, or asset preference.
XTB offers over 1,800 tradable assets to choose from, competitive spreads and relatively low commissions and fees. Along with great customer service, personalized educational materials, and great trading platforms, this makes XTB perfect for both novice and veteran traders.
As if that wasn’t enough, XTB is transparent and reputable. The broker is regulated by some of the top authorities in the world, including CySec and the UK’s FCA. This gives you peace of mind every time you trade.
Keep reading our comprehensive XTB review to learn more about this highly reputable broker and its award-winning services.
Discover an experienced and award-winning broker
XTB was founded in 2002 in Poland and has since become one of the biggest stock-exchange listed Forex and CFD brokers in the world. Currently, they have offices in over 12 countries, including the UK, Germany, Italy, Hungary, Poland, Spain, France, and Belize.
With over 1,800 instruments to select from, XTB allows investors to diversify their portfolios, which ensures they have access to many opportunities to profit. This includes 48 currency pairs and 25 crypto CFDs.
Our review team also discovered that XTB is a highly reputable broker that has won awards for their outstanding trading services. In 2013 they received the World Finance Exchanges & Brokers and in 2019 they picked up the M&A Today Award for the Best CFD Broker.
It should be noted that XTB does not accept customers from Australia, Canada, India, and the United States.
Expect solid regulation from top-tier authorities
XTB is regulated by a number of authorities across the world, including CySec, IFSC, the FCA, and the KNF. They are also licensed to operate in a number of other countries, including Austria, Sweden, the Netherlands, Belgium, and Greece.
In 2016, XTB became listed on the Warsaw Stock Exchange after holding their initial public offering. This adds a further layer of protection for traders due to the financial transparency of publicly traded companies.
Due to the high level of regulation of XTB, our broker review found that the company is audited annually, to ensure that it remains solvent. All client funds are protected by the fact they are held in segregated accounts, and the broker is also forbidden from engaging in any activity which would constitute a conflict of interest.
Additionally, the broker is a member of the Investors Compensation Scheme, which covers EU clients in the case of bankruptcy. XTB also offers negative balance safety to all its clients and uses advanced technology to avoid requotes.
Enjoy simple yet effective account types
XTB keeps things simple and offers two types of accounts. The main difference between the two lies in the fee structure on trading currencies, indices, commodities, and cryptocurrencies.
The fees on the Standard account are comprised of marked-up spreads starting at 0.35. The Pro accounts features lower spreads starting at 0.28, along with commissions starting at around $4 per lot. No matter which account you choose, all stock and ETF CFDs trades will be subject to a commission beginning at 0.8% per lot.
Both account types provide access to all the trading instruments XTB offers, and automated trading is permitted. They also both offer leverage of 200:1 to international clients and have a minimum first deposit limit of $250.
International customers at XTB can also open an Islamic account, which isn’t at the mercy of swap fees. Minimum spreads start at 0.28, along with commissions starting at $10 per great deal.
Our XTB review group found out that while this broker does offer a demo account, it is only available for 30 days, which is a little disappointing.
Benefit from competitive spreads and commissions
Like all outstanding brokers, XTB charges competitive spreads, low commissions, and rollover charges which are in line with the market average. Every instrument features a different spread and swap value, which can be found on the XTB website.
Although most clients will not be charged any inactivity costs, it’s a good idea to double-check this if you do decide to take a break from trading. In certain countries, such as France and Spain, you may need to pay a fee of approximately $11, if you want to keep your account open up without trading for over a year.
At XTB, all deposits made via bank transfer, credit or debit card are completely free. E-wallet payments, however, are subject to feels. PayPal, Paysafe and Skrill deposits carry a 2% charge, whilst deposits produced via SafetyPay are charged at 1.5%.
The broker also imposes the very least free withdrawal limit of $100. Any withdrawals requested for amounts below this threshold will become subject to a $30 fee.
Sufficient payment methods
While conducting this broker review, our team of experts concluded that XTB offers sufficient payment methods for deposits to keep up with popular brokers. When it comes to withdrawals, though, they could certainly expand their offering to be more competitive.
At XTB, you can fund your accounts via bank transfer, major credit and debit cards, as well as Paysafe/Skrill. EU clients may also use PayPal, while international customers can use Safetypay.
Withdrawals, on the other hand, can only be done to nominated lender accounts that have been verified by the client with a valid bank statement issued within the previous three months.
If the withdrawal is made before 1 PM, it will be processed the same day. Otherwise, it’ll be processed the following working day.
Take advantage of an attractive loyalty program
Our XTB review team discovered that this broker doesn’t present any form of bonus. This is because of the regulatory requirements they are at the mercy of, which do not permit them to offer financial incentives to customers.
XTB does, however, provide a multi-tier loyalty program. This offers clients benefits, based on their trading volume and deposit sizes. For example, the Plus level allows you to gain access to premium research components and premium email notifications, along with priority usage of trading clubs and events.
As a VIP member, you will also have direct access to a market analyst and individual coaching sessions.
During our XTB broker review, we also uncovered that international clients can take benefit of a cashback program, as well as a refer-a-friend promotion.
Choose between two great trading platforms
XTB is available in a number of different languages, including English, Polish, Arabic, and French. The site is very easy to navigate, both for members and non-members. Prospective clients can find all the information they need quickly, so they can make informed decisions about account types and banking methods.
The XTB registration process is quick and straight-forward. You simply need to supply the broker with your contact details and some information about your income and trading experience.
Our XTB review team was impressed to find that, in addition to offering the popular MetaTrader4, this broker has also developed a proprietary platform dubbed xStation 5.
xStation 5 is a robust yet very user-friendly platform. It comes with an embedded equity screener and calculator, along with a variety of technical analysis tools. This platform also features a newsfeed, market analysis, and free educational videos.
XTB’s award-winning system also enables you to compare charts and even see how many traders have opened long positions versus short ones. You can also close all positions, all profitable positions, or all losing positions with a single click and set price alerts.
xStation 5 can be used via a web browser or can be downloaded as a desktop customer. It also allows for demo trading, which means you can test the platform out before trading together with your live account.
Trade on the go
Our team tested the XTB website on several mobile devices and discovered that it was responsive and well designed. The mobile version of the site offers complete functionality, therefore you can register with the broker, manage your accounts, and make deposits and withdrawals from your smartphone.
With regards to trading, you can choose between using the MT4 mobile app or XTB’s own xStation Mobile.
xStation Mobile is similar to xStation 5 in terms of functionality, which makes it an incredibly proficient tool for mobile trading. It also comes complete with an inbuilt live chat feature, allowing you to contact customer support whilst trading on the run. For this reason, our broker review group would recommend using XTB’s mobile system over MT 4.
Enjoy comprehensive educational materials
XTB provides all investors with an outstanding range of educational materials. You can access these by opening a live account, although there are also some free resources obtainable before registration.
XTB’s educational content is arranged in a logical progression, starting with basic concepts, such as for example terminology and how forex works, moving up to more advanced ideas like trading strategies. The broker offers live webinars and VIP clients can even enjoy one-on-one coaching sessions.
Our review team is made up of traders of all different levels, and each found that XTB offered useful components for them. Whether you’re a beginner or a seasoned trader, we’re certain XTB will offer you opportunities to learn more.
Enjoy excellent customer care
XTB offers support in multiple languages, including Polish, French, Italian, Arabic, English, Russian, Chinese, German, and Spanish. You can contact this broker via live chat, phone, or email and support is usually available 24 hours a day, five days a week.
Our broker reviewers are pleased to report that the XTB customer support agents are excellent. They respond quickly and are both highly professional and very knowledgeable.
Open a live accounts with XTB for an excellent trading experience
Our XTB review team figured this is an extremely reputable and transparent broker committed to providing outstanding trading solutions.
Attractive spreads, an extensive library of educational materials, and a great loyalty program are just a few of the things that make XTB an exemplary broker. The choice of two award-winning, mobile-compatible trading platforms is certainly nothing to scoff at either.
Sign up for an XTB account today to enjoy an excellent trading experience with a skilled, first-rate broker.
FAQs
Is XTB legit?
XTB is a completely legit broker, which is registered and certified by a number of international regulatory bodies, like the FCA, CySec and IFSC and KNF.
Does XTB offer a bonus?
Due to regulations, XTB is not permitted to provide a bonus. They do, nevertheless, offer attractive loyalty programs for active traders.
What is the minimum deposit in XTB?
The minimum deposit for international clients is $250, or currency equivalent.
Is XTB a scam?
XTB isn’t a scam. It is registered and licensed in multiple territories, including the UK, Cyprus, Poland, Spain, and Belize. It is also a publicly-traded company in Poland.
What XTB account types are there?
XTB offers a Standard account with marked-up spreads, a Pro accounts with lower spreads and commission fees, and an Islamic account with no swaps. You may also open a demo account for 30 days, free of charge.
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