XTB Review

Introduction:

Founded in Poland in 2002, XTB has been a pioneer for Forex and CFD traders. XTB has a presence in over thirteen countries, including UK, Germany, Poland, Chile and France. In two decades of their experience, they have served more than 495,000 customers worldwide. They are regulated by some of the best regulatory authorities, such as FCA, FSC, CySEC and KNF.

XTB strives to offer its clients a superior trading experience by offering improved trading technology. Its trading platform, “xStation 5”, is one of the most reliable and functional trading platforms available in the market today. The platform is very flexible and has some excellent features. With XTB, you can trade CFDs on stocks, cryptos, indices, commodities and ETFs. What makes XTB stand apart from others is its tighter spreads and advanced charting tools. It mainly caters to the needs of active and sophisticated traders. At the same time, its on-hand customer service and educational offerings make it an attractive option for beginners. Overall, XTB offers all-round offerings, consisting of low trading costs, a wide range of trading instruments, solid customer support, a powerful proprietary trading platform and competitive spreads.

Features of XTB:

• Types of Trading Instruments Available:

  XTB offers access to CFDs on 135 ETFs, 1848 stocks, 36 indices (stock markets), 5 cryptocurrencies, 22 commodities (like gold and silver) and 57 Forex pairs. In addition to this, XTB also provides 7800 equities and 150 ETFs (investment funds) as part of securities offerings. However, they are not available in U.K. and China branches. Note that you can only trade CFDs of cryptocurrencies like Dash, Bitcoin or Litecoin. Hence, you won’t be able to buy cryptocurrencies but a derivative product on them.

• Full Suite Of Trading Tools:

  XTB offers a wide range of trading tools such as a built-in trading calculator, negative balance protection, automated and more. The trading calculator enables you to plan your orders and estimate profit and costs even before you place a trade. With negative balance protection, you will ensure that you don’t lose more than what you actually have in your account. This usually happens with other brokers when you trade with leverage (borrowed money). Similarly, automated trading lets you build your own systems and automate the trades.

• Types Of Trading Platforms Available:

  Apart from the standard MetaTrader 4, XTB also offers a proprietary trading platform, “xStation 5”. There are several fantastic features of xStation 5 that make it a popular choice among traders. The platform is known for its modern design, powerful tools (30 drawing tools and 39 technical indicators), countdown timer and economic news releases.
  XTB’s flagship platform offering, xStation 5, delivers superior performance on the web, mobile, computers and even smartwatches.

• Market Research:

  XTB’s market research content is one of the best in the industry, all thanks to its in-house team and third-party providers. Not only does it streamline headlines from top-tier news providers, but it also provides traders access to the economic calendar to provide useful insights to them during important economic and financial events. Although XTB does not publish as many articles and videos in English as other brokers, it does possess a strong global presence in several other languages, such as German, Polish and Italian.

• Educational Resources:

  XTB’s educational offering is quite impressive. Traders can access videos, articles and archived webinars. XTB incorporates trading education through its own platform suite as well as its website. There are more than 200 lessons available, along with FAQs, tutorials and much more.

• Customer Support:

  Traders can contact XTB by call, email and live chat. The customer support team is available from 9 AM to 6 PM. The team usually generally takes a little time to get back to you.

• Availability of Demo Account:

  With XTB, you are able to access a demo account to practice your trading skills before you start trading with a live account. You get virtual funds worth $/£/€100k to practice without risking your capital.

Trading Conditions:

• Commissions and Fees:

  XTB offers its clients two types of accounts: spread-only Standard accounts and commission-based Professional accounts. Both of the accounts have similar pricing if you trade high volumes. However, for smaller accounts, the Standard account is much cheaper. There are several types of commissions you must pay with an XTB account:

  Inactivity Fees: If you do not trade for twelve months, you will need to pay $/£/€10.
  Withdrawal Fees: Traders are charged withdrawal fees if the withdrawal amount is less than $/£/€60.

  Additionally, there is also a swap fee for holding positions open overnight. However, there is no fee for depositing money or holding investments within your account. XTB is known for its low cost.

• Leverage:

  One of the major reasons why traders are attracted to Forex/CFD markets is the high degree of leverage available. XTB offers a maximum leverage of 1:500 for standard as well as swap-free accounts.

Pros and Cons Of XTB:

Pros:

• Regulated by several top-tier regulatory bodies
• Competitive spreads
• Robust proprietary trading platform
• Excellent research materials
• Exceptional charting tools available
• News feed and economic calendar available
• Flexible alerts and notifications for deposits, withdrawals and price alerts
• Fast account opening
• FCA regulated broker

Cons:

• Limited choice of trading platforms
• Withdrawals are made by bank transfers only
• The limit of Demo accounts is 30 days
• Leverage can’t be changed when trading derivatives
• MetaTrader 4 is no longer promoted at several branches of XTB like U.K., Poland, and Cyprus. However, you can request it manually from select XTB offices.

Conclusion:

XTB is an excellent broker for traders who want to trade CFDs. It offers a competitive spread and covers many markets such as indices, Forex, commodities and cryptocurrencies. Since it is FCA-regulated brokers, you don’t have to worry about falling prey to scams. In addition, XTB is also registered with many other European regulators, making it a safe choice for traders worldwide. But, of course, there are some negative aspects as well. So, make your choice wisely before you start trading with XTB.