XTB ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
XTB are one of the largest stock exchange-listed FX & CFD brokers in the world, providing you with instant access to the global markets in a secure environment. You can trade a generous selection of over 2,100+ financial instruments across multiple asset classes via advanced yet user-friendly trading platforms along with powerful trading tools to assist with your day trading activities. I am impressed with many aspects of XTB. I like how they have tight spreads, no commission fees, rapid trade execution speeds, multiple account funding options, educational resources and 24/5 support. They also provide me with peace of mind as they are regulated in multiple jurisdictions and have been operating for many years.
Pros & Cons
- Award-winning xStation trading platform
- XTB is one of the largest stock exchange-listed FX brokers in the world
- Trade over 2,100 global markets: Forex, Indices, Commodities and Shares
- Tight spreads and rapid trade execution speeds
- Commission free trading
- Multiple deposit and withdrawal methods
- Dedicated personal account manager
- Excellent trading academy for beginners
- Live market commentary
- Powerful trading tools
- Minimum $1 deposit
- Fast and highly qualified support available 24/5
- Islamic accounts
- Free demo accounts
- Inactivity fees
- Funding fees
- No MetaTrader platforms
- No support for crypto funding
- Cannot accept clients based in some countries
Starting out as X-Trade in 2002 and merged into XTB in 2004, they are one of the largest Forex & CFD brokers listed on the stock exchange with offices in numerous countries including UK, Poland, Germany, France and Chile. I can trade with confidence knowing that the XTB group is regulated by some of the most well-respected regulatory authorities in the world.
I really like how each and every XTB trader is treated as a valued partner rather than just a statistic. They take great pride in offering a personal approach to establish long term relationships with you and to help you become successful. When you open an account, you get a dedicated personal account manager as standard with individual support provided to you every step of the way.
I believe this is helpful if you are new to trading and need some guidance, although I prefer to trade by myself without the interference. I find it comforting enough to know that support is there to help if and when required.
They have many years of experience in the online brokerage industry and I would consider them to be amongst the best brokers you can choose from when it comes to Forex & CFD trading for both retail and institutional traders alike.
XTB incorporates powerful trading technology into its trading platforms with the aim of providing you with fast and reliable trade execution speeds, no requotes and full trade transparency. Deal tickets are provided so that you can see the spread, pip value and swaps on your orders. I really appreciate this transparency which can help in the unlikely event that you notice any discrepancies in your trades.
XTB Ltd is not a market maker and has no dealing desk. XTB Ltd is a matched principle broker and sends all trades automatically to their parent company Xtb SA, formerly X Trade Brokers Dom Maklerski SA. This is their liquidity provider and trades are executed automatically without any manual intervention from any dealing desk. This means that you should not see any conflict of interest with your trades that unfortunately can happen if you were using a market maker broker who would take the opposite side of your position.
The XTB Group has a global footprint and is regulated by the worlds leading supervisory authorities to give you peace of mind that you’re trading with a broker you can trust. Depending on your country of residency, your account will be opened in the most convenient for you jurisdiction.
UK Residents – are on-boarded in XTB Limited, authorised and regulated by the UK Financial Conduct Authority (FRN 522157) with its registered and trading office London, United Kingdom or in other EU branches, regulated by different authorities.
EU Residents – are on-boarded in XTB Limited, authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 169/12.
Non EU/UK Residents – are on-boarded in XTB International Limited, authorised and regulated by the International Financial Services Commission in Belize. (IFSC License No.: 000302/46).
XTB Mena Limited is incorporated in the DIFC, regulated by the Dubai Financial Services Authority (DFSA) under reference number F006316.
XTB Africa (Pty) Limited is regulated by the Financial Sector Conduct Authority (FSCA), the regulator of the South African financial markets.
If regulation is the most important thing for you, then you may also want to consider City Index. They are one of the most well-regulated brokers that I have come across in the many years that I have spent reviewing hundreds of brokers.
As a Group, XTB accepts clients from the vast majority of countries. However, they do not accept residents of the following countries:
India, Indonesia, Pakistan, Syria, Iraq, Iran, United States, Australia, Albania, Belize, Belgium, New Zealand, Japan, South Korea, Hong Kong, Mauritius, Israel, Turkey, Venezuela, Bosnia and Herzegovina, Ethiopia, Uganda, Cuba, Yemen, Afghanistan, Laos, North Korea, Guyana, Vanuatu, Mozambique, Republic of the Congo, Libya, Macao, Panama, Singapore, Bangladesh, Kenya, Palestine and the Republic of Zimbabwe. If you are one of those restricted countries, you can easily find a suitable broker on our compare brokers page.
- XTB Ltd, the FCA regulated entity, only accepts clients who are residents of the UK
- XTB CYPRUS is for EU residents
- The XTB Group does accept clients from outside of the UK/EU to the other legal entities when it’s relevant to do so
- XTB INTERNATIONAL is for non EU/UK residents
- Canadian residents are accepted only by the French branch of XTB Group: XTB FR
- X-Trade Brokers, the parent company of XTB is listed on Warsaw Stock Exchange (Ticker:Xtb)
XTB provide you with the award-winning xStation 5 platforms that are designed to deliver optimum performance for new and advanced traders. I found them easy to use with simplistic interfaces and advanced charting tools. I did not have any issues navigating the platforms and analysing charts with various technical indicators.
However, I still need to use an alternative desktop platform in MT4 in order to run my automated trading systems. If you are a MetaTrader user then you may want to consider Pepperstone instead as they have the MT4 & MT5 platforms.
The xStation 5 platform is easy to use and fully customisable. It has superior executions speeds with trading tools such as trader’s calculator, performance statistics and sentiment analysis.
With xStation 5’s advanced chart trading you can trade market orders, stop losses, take profits and pending orders directly on the charts with market order depth. The one-click dealing system incorporated can provide you a more convenient and efficient way to trade.
The live performance statistics feature allows you to analyse your performance to see what markets you perform well in and your win/loss ratio of your short and long trades.
xStation 5 includes the most popular technical indicators including Fibonacci, MACD, Moving Averages, RSI, Bollinger Bands and many more. You can create your own trading system templates to save for future use or use any of the pre-built trading templates.
The bulk order closing feature allows you to easily lock in all profits or close all trades with just one click.
xStation 5 also has a free trader talk feature that provides a live audio feed into the platform which gives you the latest market news and analysis in real time. This can help you take advantage of potential trading opportunities or avoid specific markets.
The sentiment analysis tool will show you how many XTB traders are short (selling) and how many traders are long (buying). This sentiment tool can be useful for contrarian trading.
Using the advanced screener, you can filter stocks to find suitable opportunities whilst the top movers lets you see all of the major market moves and volatility all in one place via a heatmap and top movers tab.
You can manage your trades from any device including desktop, laptop, smartphone or tablet. This can be useful if you plan to trade on the go as you can access your account to open and manage trade from anywhere at any time. I like to use trading apps most of the time, simply because it is more convenient than having to load up my laptop.
xStation 5 key features include:
- Award-winning trading platform
- Superior trade execution speeds
- Easy to use with a simple design & an intuitive user interface
- Trade whilst on the go using the mobile platform for iOS & Android
- Web platform that is fully compatible with Chrome, Firefox, Safari and Opera
- Over 2,100+ trading instruments to choose from including forex, CFDs, commodities, stocks, indices, ETFs, etc
- Comprehensive charts for analysing markets & instruments
- Vast array of trading tools for technical analysis
- Easy trading & risk management tools
- Market sentiment to help gauge buyer/seller strength
- Economic calendar for fundamental analysis
- See the hottest instruments & top movers
- Create personal watchlists
xStation Mobile App
As mentioned above, XTB also offers its xStation mobile app to facilitate trading in over 1,500 CFD markets, including FX, cryptocurrencies, indices, commodities, stocks, and ETFs worldwide. I found the xStation mobile app holds enough power to quickly and easily monitor and manage positions with intuitive charts and minimal hassle. However, I also felt it was limited in terms of functionalities when compared to the desktop version of the platform. That being said, if you just want to follow the latest prices and manage your trades, it will be more than sufficient.
XTB provides you with live market commentary and an economic calendar which is great for keeping track of the latest market news. They also have some advanced chart trading tools and a sentiment analysis feature which I found very useful for discovering what other traders are doing.
You can view your detailed performance statistics which highlights areas in which you can improve your trading. The trader’s calculator can help to specify your risk and reward for each trade and overall portfolio.
I found it interesting that you can get trade ideas and support/resistance levels from expert analysts sent directly to your phone. This includes trade recommendations from major banks and key technical levels which can be useful if you are watching the markets on the go or looking for potential trading opportunities. If you don’t have the time or knowledge to analyse the markets yourself, you may find this to be extremely beneficial.
The majority of the trading tools you will find are already built in the provided trading platforms. This makes them easily accessible for efficient trading. It can be annoying needing multiple tabs or apps open at once and switching between them.
Overall, I found the trading tools to be limited compared to what BlackBull Markets have to offer. You also need to consider that without the MetaTrader platform, you are missing out on the potential of getting thousands more tools to implement within your trading strategies.
World leading education remains at the heart of what XTB give you. They have a comprehensive range of educational materials to help you reach your trading goals. This includes personalised education to suit all levels and styles of traders. There is a collection of videos, tutorials, online trading academy, trading courses and daily webinars to help you on your trading journey.
I think they could be the ideal choice of broker for beginners who need some guidance along the way. I found there are plenty of free educational materials to get your teeth stuck into. This shows me that they are a broker with client’s best interests in mind and want to encourage informed decision making. If you are new to trading, Fortrade also have a great choice of free educational content to help you learn more.
The XTB Trading Academy is a dedicated education area containing a vast array of content that’s geared towards helping you become a better trader, including video tutorials, trading courses, articles, and much more. You can choose a topic covering a range of different subjects and enhance your skills across every stage of your trading journey. There is a great selection of over 150 lessons available that cover a range of investment topics including technical analysis, fundamental analysis, and trading strategies, available in 12+ languages, written by XTB market experts and analysts.
I discovered a wide range of subjects covered within the educational material from trading platform tutorials, introduction to markets, technical analysis, fundamental analysis, risk management, trading psychology and more. They are certainly an industry leader when it comes to the education side of things, not forgetting that the trading conditions are up there also.
You can interact with XTB’s team of market experts, brush up on your technical analysis skills, and receive concise, actionable research on market movement – all from the comfort of your own home. Whether you’re a new or experienced trader, they have a range of expert-led webinars which can contribute to your trading strategies.
Live webinars with XTB analysts are accessible from the trading platforms and Social Media covering 11 languages including English, Polish, Spanish, Portuguese, Arabic and Vietnamese. I think it is great that they are catering to as wide an audience as possible. It is frustrating when a broker only provides help in English, considering there are traders from all corners of the globe.
XTB offer one on one mentoring and 24-hour support. As an XTB client, you will get a dedicated account manager that can assist you with your learning and trading skills. If like me you prefer to trade on your own accord, you can just let them know and they will leave you in peace. However, they are at your disposal as and when needed.
XTB frequently updates its website market news which provides an expert analysis of multiple markets that can help assist with your trading and give ideas for potential trading opportunities. I found the articles informative. I was even made aware of some market events that I would consider taking action on.
XTB provides you with access to a good variety of more than 2,100 trading instruments across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, CFDs & ETFs. It is important to note that the product range can vary depending on the XTB entity that you have an account with. This is due to regulators and what they allow.
Although a few thousand instruments can seem like a lot, it does not quite compare to IG who have a huge selection of over 17,000 and TMGM who have more than 15,000 respectively. That being said, if you are just a casual trader who wants to trade forex, cryptos and some popular stocks, then XTB should do the job.
They currently offer major, minor and exotic FX currency pairs with spreads starting from just 0.1 pips and micro-lot trading available. Forex trading is available 24 hours a day, 5 days a week.
XTB offers Indices from across the world including USA, Germany and China. Spreads are very competitive whilst traders have the ability to trade indices long or short. There are no overnight costs if you keep a position open until the next day.
You can trade commodities including Gold, Silver and Oil with competitive spreads and again no overnight costs.
Share CFD trading is available with 1500+ Global Stock CFDs including Apple & Facebook. Commission is low from 0.08%, you can trade long or short.
XTB has 80+ Exchange Traded Funds (ETFs) to trade with commission from just 0.08%, no requotes and market execution.
XTB have 10+ Crypto CFDs, including: Bitcoin, Ethereum, Stellar, Dogecoin and more. You can trade cryptos 24/7 with low costs and spreads starting from 0.22%.
You can choose between 2 account types, the XTB Standard Account and the XTB Swap Free Account that complies with Sharia law for Muslim traders. They also have free demo trading accounts if you would like to trial the platforms and practice your trading skills before opening a real account.
The minimum deposit starts from $1 which is great. It means that you can try them out on a real account with minimal investment. Some brokers require a deposit of $200 or more just to open an account. If you prefer to start with a small amount, Trade Nation also have a minimum deposit requirement of $1.
You will see that both of the accounts use market execution and give you access to all of the markets and trading instruments that XTB supports. FX spreads start from around 0.5 pips and there are no commission fees. The average XTB spread is among the best in the online forex brokerage industry, when you consider there is no commission charged on top. However, if you are looking to scalp forex pairs and need the lowest spreads possible, you may want to look at IC Markets as they have spreads from zero pips but do charge a small commission fee.
I found XTB to have a very short online application form that takes just a few minutes to complete. Following on from that, you will need to verify your email address and upload a form of identification (passport, drivers license) and proof of address. Once your documents have been verified your account will be created. You can then deposit funds and begin trading.
I appreciate that the customer support is available 24 hours a day, 5 days a week via live chat, phone and email. They are on hand to answer all of your questions and help to solve your problems in a prompt and efficient manner. Client satisfaction is the main goal with a dedicated personal account manager allocated to all traders. Furthermore, they operate an open-door policy at their offices which further backs the personalised and friendly approach. I have always received excellent support from them and have even had them reach out to see how things are going without being prompted.
Depositing funds and withdrawing from your XTB trading account is quick and easy with several methods available to suit all individual needs, including bank transfer, credit card and e-Wallets.
Funding is another area that I am really impressed with. There is a great variety of payment options, including my personal favourites which are digital wallets. This is because my funds can be instantly transferred which is important if there is some market news that I want to quickly try and take advantage of. I don’t always have the time to sit around waiting days for a bank transfer to clear.
Some methods may have additional charges and you will have to cover exchange rates if depositing in a currency different from your bank. I found the fees to be reasonable and not that different to what you will find with any other broker. I like that accounts can be opened in multiple currencies which include EUR, USD, GBP & HUF. This means you won’t have to pay a currency conversion fee if your account is in the same currency. Same day processing is available and there is a small charge if you wish to withdraw below a certain amount.
On the downside, if you need crypto funding then you will have to look elsewhere. One broker I know that supports crypto deposits and withdrawals is Hugo’s Way.
I really appreciate how XTB offer a personalised trading experience and support beginners with a plethora of educational resources. Not only that, they also have very good trading conditions including quick trade execution speeds, tight spreads and no commission fees. You can choose from a wide range of trading instruments to trade across a variety of different markets including CFDs on forex, cryptos, stocks and commodities.
The award-winning station 5 trading platform is one of the best trading platforms you can trade with. You also get some excellent tools to assist with your trading. However, it would be great if they could add the MetaTrader platforms and some crypto funding options.
Overall, the simplicity of XTB and superb customer support helps to establish them as one of the top trading brokers in my opinion. The broker has a strong regulation in the industry and it is clear to see why. I feel confident as they are regulated and provide fund protection for extra peace of mind.