This is my unbiased review of XTB broker also known as X-Trade Brokers.
XTB proved to be very serious and reliable broker during my testing with a robust and stable proprietary trading platform known as xStation. I found the xStation webtrader very user friendly, easy to navigate. Anyone can grasp all the functions in a very short time without a steep learning curve.
Trading conditions on this platform are well above their peers , the speed of execution was super-fast . One the biggest competitive advantage of XTB broker are relatively low trading costs when we speak about forex spread or zero commision on physical stocks and ETFs for european investors.
Client support was quite knowledgeable, they responded quickly and competently via Live Chat (open 24 hours 5 days a week).
In my expert opinion XTB is one of the most solid online forex brokers across the globe and has been in the forex industry since 12 years.
XTB Pros & Cons
- 56 forex currency pairs
- Minimum deposit $1
- Real Stocks & ETF funds without commision for EU investors
- Competitive floating spreads from 0.1 Pips
- Award winning xStation 5 trading platform
- Regulated by the FCA United Kingdom
- Regulated by the DFSA Dubai
- Regulated by the FSCA South Africa
- Regulated by KNF for doing business across European Union
- Excellent reputation
- Instant market execution (No price requotations)
- 59 milliseconds is average trade execution
- High quality free education for clients
- Competitive leverage for non-EU clients
- DEMO trial account with virtual 10.000 USD
- Scalping/Hedging is allowed
- No Welcome Bonuses
- Not available for USA traders
- No cTrader/MT5/MT4 platforms
XTB has offices in main financial centers in UK, Poland, Spain, France, Turkey, Portugal and Germany.
- XTB UK Ltd is regulated in Europe by the FCA United Kingdom (FCA #522157)
- XTB United Arab Emirates is regulated by the DFSA Dubai.
- XTB Africa is regulated by the FSCA South Africa
- Polish KNF Poland in Warsaw regulates XTB in Europe. The headquarters of the company is located in in Warsaw, Poland.
XTB group is registered by many top tier financial authorities in the major European Union countries.
XTB Trading Accounts
You have a choice between two types of business accounts.
XTB Broker offers 2 different types of business accounts where basic account is called STANDARD, and trading account for advanced traders is called PRO.
These are primarily different in trading opportunities and spread rates.
The basic type of account you can choose for XTB is Standard Business Account (Standard) is ideal for traders who want to benefit mainly from low spreads. You get this type of account, variable FLOAT and at least 0,1 pips! Spreads may temporarily expand as a result of increased market volatility. With this kind of account, you need to go without the guaranteed loss stop command.
2. Pro Account
PRO account (PRO) is primarily targeted at intermediate and advanced traders. The orders are transferred directly to the liquidity pool so clients always benefit from the best bid on the fx market. Our review of XTB shows that the spread on this type of account is extremely low, and that’s about 0.28 points (pip). Plus commision per lot is around 3.5$ for PRO account.
We recommend you to open STANDARD account and work with xStation 5 which we find the best combination for most traders based on our test experience!
71% of retail investor accounts lose money when trading CFDs with this provider.
During the broker review we have figured out that XTB broker is one of the cheapest CFD brokers worldwide! Their trading fees are generally low and when compared with their peers, there are none no-trading fees. Read below.
Occur during trading.
- Average commision on EUR/USD currency pair is 0.2 Pips
- Typical overnight fee on $7.94 ( for Islamic accounts you will be charged $0)
Occur during depositing, withdrawing your money or staying away of trading.
- Depositing fee: None
- Withdrawal fee: None for withdrawal of amounts over $100
- Inactivity fee: None
- Forex: Over 50 currency pairs
- CFD Indices: Over 20 global indices
- CFD Commodities: Over 20 commodities + precious metals
- CFD Cryptocurrencies: Over 25 cryptocurrencies including Bitcoin, Ethereum, Litecoin and more
- Real Shares: Over 2000 shares from exchanges around the world
- Real ETFs: Over 300 Exchange-Traded Funds
- Options: A variety of options available on selected instruments
XTB trading platforms
The XTB broker offers its client a web-based trading platform (not required to install on a computer) called xStation 5.
2. Mobile trading platforms
If you prefer “off-the-field” traffic using your smartphone, XTB currently offers a fast and easy-to-use mobile app for both Android and iPhone with great customer ratings on Google Play and iTunes.
XTB demo account
To test what platform you offer, of course you have an XTB demo account, but beware, for a limited time of 30 days! So, not for an unlimited period of time, as is the case with other brokers. This is a bit strange, but on the other hand it forces you to try the basic features and start trembling with real money.
This broker has seat in the United Kingdom and is regulated by the FCA (Financial Conduct Authority) therefore falls under the MiFID2 regulatory, that means the maximum leverage available for European traders is 30:1 (according to MIFID2 ESMA rules), but if you reside outside of EU signing up under XTB’s international entity can open door for 200:1 leverage!
Is XTB trustworthy and safe broker?
XTB is indeed a very safe broker. As far as we learnt during the review, they take all regulations very seriously.
XTB is also regulated by several top regulators.
XTB Ltd. is regulated by the UK FCA.
Protection of your money
First of all, XTB protects your money by keeping your funds on segregated bank accounts which means away from the money that company itself needs to run.
Secondly, XTB clients fall under FSCS (Financial Compensation Scheme) in case the company goes belly up (become insolvent) you will be 100% protected up to £50,000 per person by the FSCS fund!
Is XTB a scam?
XTB is definitely NOT a scam. How could it be? It is one of the most solid brands in this industry.
Again read the previous paragraph where we explain FSCS fund and most importantly about regulation.
XTB account opening
First of all, if you are unsure you can test on demo account first.
Overall we can say that the real trading account opening at XTB was hassle free and quite fast.
Deposit fees and options
XTB will not charge you any deposit fees.
There are several options how to transfer money into your trading account. Some options may not be available in all countries.
- Wire bank transfer (slowest but recommended for large amounts)
- Credit/Debit card
During the account opening process, you will need to fill in the KYC (know your client) formular questions that are required by law.
Account verification should be easy to do.
All you will need is:
- scanned copy of any utility bill (invoice for mobile phone, electricity, water, gas or any service not older than 3 months)
- scanned identity card or Passport (both sides).
XTB Minimum Deposit
Min.deposit depends on country where you live. For example in Central Europe there is no required minimum deposit, but in some countries like Spain the min deposit is $1000.
XTB deposit withdrawal review
During this review of XTB, we were able to withdraw our profit of $200 back to the original bank account. Money arrived within 2 working days.
You can open an account with XTB if you are from any country except the following countries which are BANNED: USA, Canada, Syria, Iraq, Iran, North Korea, South Korea, Pakistan, Singapore, Japan, Libya, Bosnia Hercegovina, Afghanistan.
Our very short experience with XTB has confirmed that the business platform itself is at a high technical level.
Prices during the test were stable, we did not see any price requotes, platform freezing or other technical complications that are common with smaller brokers today.
We tested the quality of customer support, by placing a simple question over email. It was also a surprisingly professional client center. For questions, support can be contacted via live chat or free phone line. We also have a positive experience with customer support through e-mail communication, where we have answered all the questions in a straightforward and factual way (unlike some other brokers)
If you first need to convince yourself of the broker’s qualities, we recommend trying a free demo account – All features can be used without limitation for 30 days. We did not like this so we would prefer to have an unlimited demo account!
Beginners and professionals can find a wealth of information about what the XTB platform can do and how it trades in a large educational section where we found a vault full of recorded webinars and seminars, the extensive stock exchange vocabulary will also be available in a short time.
“Based on our thorough review we rank XTB broker as an outstanding CFD forex trading platform!”
We recommend you to try XTB.
80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
|Risk Disclaimer: |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.