XTB is a top online CFD broker that offers access to more than 2,000 instruments through a powerful proprietary platform called xStation 5. Forex, shares, indices and commodities are all available for traders. This XTB review 2023 will discuss the broker’s trading spreads and demo account services. We also cover customer support and mobile apps. Register today for a live trading account.
XTB was founded in 2002 and has a presence across 13 countries including France, Poland, Germany and Germany. In the past two decades, more than 495,000 accounts were opened. XTB gives retail traders instant access to hundreds global markets.
XTB and its analysts have been praised for their transparency and speed in execution. They have received a number of prestigious awards, including the #1 EMEA Bloomberg spot on FX accuracy for Q2 2020 and Q3 2018.
The company is also regulated and monitored by several top watchdogs including the Cyprus Securities & Exchange Commission, (CySEC), and the UK Financial Conduct Authority.
Trading Platform
XTB’s trading platform, xStation 5, has impressive features.
xStation 5, which was voted Best Trading Platform 2016′ by Online Personal Wealth Awards, offers instant execution at an average of 85 milliseconds with no requotes.
You can also get a free market commentary, which is a paid service offered by other brokers. There’s also an advanced trading calculator that instantly calculates all aspects of your trade.
You will also find a video tutorial section, stocks screener, sentiment heatmaps, and real-time performance statistics that show you your strengths and weaknesses as trader.
xStation 5 can be accessed on any device, including your smartphone, tablet, phone, or mobile. It also has a range of technical tools that will help you trade. The platform is suitable for all levels of experience.
Web Trader
The Web Trade platform lets traders use xStation 5 online without downloading any software. It works with Chrome Firefox Safari Opera and Safari. It is compatible with many devices, including Windows and Mac.
Note that XTB traders cannot open accounts on the MT4 platform since 2022.
Assets & Markets
XTB offers more than 2,100 instruments in six categories.
Forex:57 currency pairs. These include all major currencies, plus some minors or exotics.
Shares –XTB offers CFD trading for more than 1,500 shares from companies that trade in the United States of America, United Kingdom, Poland Portugal, Spain and Switzerland.
Indices The platform has over 20 indices, from all over the globe, including the USA, Germany, and China
ETFsTraders have the ability to speculate on 1,850 global stock CFDs without trading limits
Commodities Trade popular commodities such as gold, silver and wheat.
Cryptocurrencies – The most prominent names in crypto, such as Bitcoin (BTC), Litecoin(LTC), Ripple [XRP] and Ethereum (ETH) are not available to UK traders. UK traders are not eligible
Our experts were disappointed to discover that the online brokerage doesn’t offer options or futures trading.
Spreads & Fees
XTB generally offers competitive rates for all clients.
XTB launched 0% commission trading in February 2022 for Standard account holders. Spreads came with fees.
A commission fee is charged for trades made with Pro accounts. The base currency will determine the exact amount.
Margin trades could be subject to overnight swap charges based on overall exposure.
There are no minimum deposits required and accounts can be set up for free.
All trades involving instruments that are not in the account’s currency will incur a 0.5% currency conversion charge.
Types of XTB Account
XTB offers a Basic and Standard account as well as a Pro account.
A standard account with XTB is available for free. Spreads start from 0.35 pips. The minimum order size is 0.1 Lots and the leverage limit is at 1:30. Automated trading is possible with the Standard and Basic accounts. A Islamic account can also be requested.
Account options vary from country to country, so make sure you check the official website to find out what is available for your area.
Register Process
Traders can apply online for a live account.
XTB, like all regulated brokers must undergo the ‘KYC’ (know your Customer) process and protection from money laundering activity in checks designed to make it more secure for traders.
The green “Create an Account” button will be displayed on the website. Clients will need to provide their personal information, such as name, telephone number, and national insurance number.
Next, select the trading platform, account type (Basic Standard or Pro), language, and currency.
Last, verify your ID. Any of these methods can be used to verify your identity and proof of address:
Passport
Driver’s licence
Identification card
Traders may also upload a photo of their ID proof via their smartphone. Copy should be clear and current.
Clients can log in once they are done and begin trading.
Mobile App
Traders can place orders from their mobile devices using XTB’s mobile application.
A fully optimized mobile platform allows clients to access more than 1,500 global financial markets. Mobile trading supports account management, charts, and other essential tools for real-time trading.
Supported devices include Android, iOS, and Windows devices. Download the XTB mobile application from the appropriate app store.
Deposits
XTB broker accepts credit/debit card (Visa Mastercard, Maestro), ewallets such as Skrill, Paysafe and wire transfers, but only in the country where the account was registered. Most payments can be processed immediately.
Except for Paysafe, which has a 2% fee, XTB doesn’t charge deposit fees. If transferring in a different currency to the base currency, clients may be charged exchange rate fees.
Accepted currencies include EUR, USD and GBP.
Withdrawals
If the request is received before 1 PM GMT, withdrawals are processed within 24 hours. If the request is received after 1pm GMT, it will be processed the next business day. This applies to domestic HUF withdrawals, as well as GBP, EUR and EUR.
Withdrawals are made to the nominated account in your bank. You will need to submit documentation.
Most withdrawals are made without charge. Small amounts may incur a fee. Visit the official website for a complete list of charges.
XTB Leverage
Clients will have different leverage depending on where they are located and the local regulations.
UK residents can be onboarded at XTB Limited UK. The maximum leverage allowed by an FCA-regulated entity is 1:30
CySEC regulation allows EU residents leverage up to 1:30, while non-EU residents have greater flexibility. Leverage can be up to 1:500
Demo Account
XTB offers a free demo account.
The account can be used for up to four weeks. It is also credited with 100k virtual funds. Clients have access 2100+ CFD markets, including commodities, forex, and shares.
Support is available from Monday to Friday, 24 hours a day
Regulation & Reputation
Several financial agencies oversee XTB subsidiaries in terms of regulatory oversight:
XTB UK is regulated under license number 522157 by the Financial Conduct Authority
CySEC has licensed number 169/12 to regulate XTB Europe.
XTB International is regulated under license number IFSC/60/413/TS/19 by the Belize International Financial Services Commission
X-Trade Brokers DM SA has been authorized by the Polish Securities and Exchange Commission (license number DDM-M-4021-5-1/2005) and supervised and monitored by the Polish Financial Supervision Authority.
XTB Spain is regulated by the Comision Nacional del Mercado de Valores under license number 40
XTB MENA is a holder of a category 3A license issued by the Dubai Financial Services Authority.
Client funds are kept in separate accounts to ensure that they do not become part of the company funds. Insolvency cases, traders’ funds can be protected up to 85,000 GBP by the financial services compensation system (FSCS).
Education Resources
XTB offers a variety of educational materials that can be tailored to meet the needs of clients. Many of these materials are available for free.
Our experts discovered training videos, articles online and tools for live webinars. A trading library is available for download at no cost, which is ideal for beginners.
There is also a ‘Trading Academy. There are four levels to the online academy: Expert, Basic, Intermediate, Expert, and Premium. Intermediate section covers topics such as technical and fundamental analysis.
XTB also partnered with Jose Mourinho, a football legend, to share tips and tricks on managing stress and financial markets.
Trading Alerts
To receive industry experts’ mobile trade alerts, clients can opt in. After seven days, a fee will be charged.
Notifications can be sent via WhatsApp in real time and include breaking news as well as updates on technical issues.
XTB also hosts regular Trading Clubs at its London headquarters, Canary Wharf. This is a great way to meet other traders. These clubs offer open discussion about a range of strategies and live analysis.
Customer Support
A customer service team of experts is available to assist you via phone, email, or live chat. They are available 24 hours a days, 7 days a week. Clients are assigned an account manager who will assist them with any account-related issues.
You can get support in the following languages
English
Czech
French
German
Hungarian
Italian
Portuguese
Polish
Russian
Romanian
Spanish
Slovak
Turkish
Vietnamese
Thai
Arabic
Due to US regulations, XTB cannot be operated in the United States.
Benefits
Our experts discovered that XTB had a lot of things to offer traders.
Global presence
Cashback Rebates
Free demo account
2,100+ Instruments
Mobile trade alerts
Micro lot trading
Spreads starting at 0.1 pip
Flexible account options
Account for professional investing
Global traders get 1:500 leverage
No minimum deposit requirements
A collection of educational resources that are useful
FCA, KNF and CySEC are IFSC-regulated
Customer support is available 24 hours a day, from Sunday through Friday
Award-winning: “Best forex broker award”, “Best trading platform”, and “Online personal wealth”.
Drawbacks
There are some restrictions when opening a live XTB Account:
One platform
US clients not eligible
CFDs dominate the instrument portfolio
Safety & Security
XTB has a variety of measures in place for client funds safety:
Access authorization– Access is only possible via code, fingerprint, or password
Encrypted Connections – All connections between XTB services, mobile apps and XTB are fully encrypted
Multifactor authentication– Key changes cannot be made until identity has been verified using multiple methods
Advanced network infrastructure XTB is constantly improving its infrastructure and adopting new technologies in order to ensure client safety.
XTB is also regulated worldwide by leading organizations, ensuring that brokers operate to a high standard.
XTB Verdict
XTB is a well-respected broker that provides access to a wide range of international markets and instruments. xStation is an award-winning proprietary trading platform. Spreads are competitive and account options are flexible.
XTB is a great option for traders based in the UK and EU. US clients are not eligible for these services.
Accepted countries
XTB is open to traders from Thailand, United Kingdom of South Africa, Hong Kong and France, Germany.
Traders cannot use XTB from the United States, Canada or Australia.
FAQ
Is XTB regulated?
Yes, XTB Ltd (UK), is regulated and supervised by the FCA (Financial Conduct Authority). XTB Ltd (CY), is regulated and supervised by the CySEC. Other leading agencies regulate the brokerage. See our complete review to find out more.
What is the Minimum Deposit at XTB?
XTB does not require a minimum deposit. Opening an account is free. It is popular among novice traders who want to speculate on stocks, forex and other financial markets.
What is the xStation 5 software at XTB?
XTB’s trading platform, xStation 5, is what account holders call it. XTB has created a bespoke platform called xStation 5, which is available online and via the mobile app (xStation Mobile). It is reliable and user-friendly.
Who are X-Trade’s Customers?
XTrade Brokers is the full title for XTB. The firm has nearly 500,000 clients and its history dates back as far as 2022.
What is XTB’s competitor?
Exante is a financial services company that provides brokerage services, primarily in Europe.
Is XTB on Facebook?
Yes, XTB has a page on Facebook. To find your local page, search XTB on Facebook. The brokerage is active on Instagram and LinkedIn as well.
Are X-Trade brokers a Polish firm?
X-Trade brokers are listed on Warsaw Stock Exchange. The company reports to the Polish Financial Supervision Authority. The firm operates through multiple entities, with thousands of customers around the world. In our thorough review, we detail the history of the firm.
