XTB Review 2020
XTB offer superior execution on a reliable, award-winning platform, being one of the largest stock exchange-listed Forex and CFD brokers in the world – dedicated to helping you at every stage of your trading journey.
XTB Review 2020, Pros & Cons
- Competitive tight spreads
- Strict regulation
- Negative balance protection
- Award-winning xStation trading platform
- Dedicated personal account manager
- Trading academy
- Multiple deposit / withdrawal methods
- Live market commentary
- Sentiment analysis tool
- No US clients
- Restricted leverage for EU clients
- No fixed spreads
- Limited exotic currency pairs
In this detailed XTB review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
XTB is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including XTB.
XTB Review: Summary
XTB has more than 14 years of experience and is amongst the world leaders when it comes to providing Forex & CFD trading to retail traders across the globe.
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 traders and to help them become successful. Each trader gets a dedicated personal account manager as standard with individual support provided every step of the way, this has helped to earn them excellent ratings on Trustpilot.
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 over 13 countries including UK, Poland, Germany, France and Turkey. The XTB group is regulated by some of the most well-respected regulatory authorities in the world.
XTB has won a number of prestigious awards over the years, including winning the ‘Best Trading Platform 2016’ by Online Personal Wealth Awards and being voted as the highest rated Forex & CFD Broker of 2018 by the Wealth & Finance International Awards.
XTB incorporates powerful trading technology into its trading platforms with the aim of providing clients 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.
XTB Review: Regulation
XTB is a globally regulated broker with regulation from numerous government authorities across multiple jurisdictions.
XTB are authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, International Financial Services Commission of Belize (IFSC), Autorite de Controle Prudentiel et de Resolution (ACPR) in France, Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) in Germany, Komisja Nadzoru Finansowego (KNF) in Poland, Comision Nacional del Mercado de Valores (CNMV) in Spain and the Capital Markets Board of Turkey (CMB).
Being authorised and regulated by the Financial Conduct Authority (FCA) means that client funds are held in segregated accounts, separate from XTB’s own funds. This gives confidence that client funds are protected whilst the Financial Services Compensation Scheme (FSCS) provides cover of up to £50,000 for eligible persons in the case of insolvency.
XTB accounts have negative balance protection so that your account losses cannot not exceed your account funds.
XTB Review: Countries
XTB accept traders from most countries but do not support: USA (& US dependants i.e. US Virgin Island/Minor outlying Islands), Australia, Canada, Japan, South Korea, Singapore, Mauritius, Israel, Turkey, India, Pakistan, Bosnia and Herzegovina, Ethiopia, Uganda, Cuba, Syria, Iraq, Iran, Yemen, Afghanistan, Laos, North Korea, Guyana, Vanuatu, Mozambique, Democratic Republic of Congo, Libya, Macao, Kenya.
Some XTB broker features and products mentioned within this XTB review may not be available to traders from specific countries due to legal restrictions.
XTB Review: Trading Platforms
XTB offer 2 main trading platforms; the highly popular MetaTrader 4 (MT4) and the award-winning xStation 5. Both platforms are designed to deliver optimum performance fors new and advanced traders with easy to use interfaces and advanced charting tools.
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.
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 1,500+ 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
MetaTrader 4 (MT4)
MetaTrader 4 has been around for a very long time and is one of the most popular online trading platforms used by millions of online traders worldwide. One of the main advantages of MT4 is its simplicity, thus making it a popular choice amongst new traders. That being said, it still has enough advanced functionality for the more seasoned traders. It has a quick learning curve and a wide range of built in indicators for conducting in depth chart analysis of various markets. The large MT4 community has an abundance of custom indicators and automated strategies, whilst you may create your own in the MQL4 programming language and test them in the MT4 strategy tester.
MT4 key features include:
- Fully customisable trading platform
- Market watch window with real time bid/ask price quotes from range of markets
- Multiple chart types – candlesticks, bars & lines
- Multiple order types supported including stop and limit orders
- Hundreds of built in indicators, scripts, drawing objects & EAs
- Technical & fundamental analysis capabilities
- Automated trading through the use of expert advisors (EAs)
- Strategy tester to back test EAs over historical data
- Pop-up, email and SMS price alerts
- Available on desktop, web browser and mobile devices (iOS & Android)
XTB Review: Trading Tools
XTB provides traders with live market commentary and an economic calendar. They also have advanced chart trading tools and a sentiment analysis. The majority of the trading tools you will find built in the provided trading platforms. This makes them easily accessible for efficient trading.
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.
XTB clients can get trade ideas and support/resistance levels from expert analysts directly to their phones. 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.
XTB Review: Education
XTB 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.
There is 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.
XTB offer one on one mentoring and 24-hour support. Each XTB client gets a dedicated account manager that can assist you with your learning and trading skills.
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.
XTB Review: Trading Instruments
XTB provides access to more than 1,500 trading instruments across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs & ETFs.
They currently offer 45+ 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.
Leverage on Forex currency pairs of up to 1:200 is available with 1:30 for EU clients due to the European Securities and Markets Authority (ESMA) restrictions.
XTB offers 20+ Indices from across the world including USA, Germany and China. Spreads are very competitive whilst traders have the ability to trade long or short. There are no overnight costs if you keep a position open until the next day.
You can trade popular commodities including Gold, Silver and Oil with competitive spreads and again no overnight costs.
Share CFD trading is available with 1,500+ Global Stock CFDs including Apple & Facebook. Commission is low from 0.08%, you can trade long or short and benefit from negative balance protection.
XTB has 80+ Exchange Traded Funds (ETFs) to trade with commission from just 0.08%, no requotes and market execution and negative balance protection.
You can also trade the most popular Cryptocurrencies including Bitcoin, Dash, Litecoin, Ethereum, Ripple and more. Spreads remain competitive with a 365 day contract expiry and high liquidity.
XTB Review: Trading Accounts & Fees
XTB offer 2 account types, the XTB Standard and XTB Pro account. Minimum deposit starts from $250. Both accounts use market execution with access to all of XTB’s markets and trading instruments. Leverage is the same on both accounts with the Pro accounts spread being slightly tighter although a $2.5 commission is charged for trading Forex, Commodities and Indices on the Pro account. Negative balance protection and all trading platforms are available on both accounts.
They also offer demo trading accounts if you would like to trial the platforms and practice your trading skills before opening a real account.
As broker fees can vary and change, there may be additional fees that are not listed in this XTB review. It is imperative to ensure that you check and understand all of the latest information before you open an XTB broker account for online trading.
XTB Review: Customer Service
XTB 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.
XTB Review: Deposit & Withdrawal
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 such as PayPal and Skrill.
Some methods may have additional charges and you will have to cover exchange rates if depositing in a currency different from your bank. Accounts can be opened in EUR, USD, GBP & HUF. Same day processing is available and there is a small charge if you wish to withdraw below a certain amount.
XTB Review: Account Opening
XTB 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.
XTB Review: Conclusion
XTB offer a personalised trading experience with very good execution speeds and low spreads. They have a wide range of trading instruments to trade across a variety of different markets although exotic FX currency pairs are limited compared to some other brokers. XTB has strong regulation and client fund protection for peace of mind. The award-winning xStation 5 trading platform is one of the best trading platforms with some excellent tools to assist with trading. The simplicity of XTB and superb customer support helps to establish them as one of the top trading brokers.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.