XTB Forex Broker Broker Review

Expert Summary

Established in 2002, XTB (or X-Trade Brokers as it is also known) are a leading broker providing a range of trading services to customers across Europe. Since their humble beginnings in 2002, XTB has grown from strength to strength, and currently service clients across Europe through their network of eleven offices—including the UK, Poland, Germany, France, and Spain.

Priding itself for offering full transparency in their business operations and some of the fastest execution speeds available to retail traders, XTB has garnered itself a number of prestigious industry awards in their two decades of operation.

Although not offering quite the same level of market access as some of the other larger brokers out there, XTB nevertheless holds their own in a number of important respects.

Whilst the available markets (currently around 1,500) doesn’t quite match the biggest platforms out there, and it edges out many of the other major players when it comes to access to cryptocurrency trading—currently, traders are given a choice of trading 9 individual cryptocurrencies or 16 ‘crosses’.

In terms of the trading conditions on offer, as mentioned, XTB provides incredibly quick execution speeds, meaning there will be little lag time between opening and closing orders. Generally speaking, the spreads offered are pretty competitive, although this will ultimately depend on the type of account you have opened with it.

Standard accounts can expect to see spreads of 0.9 pips, whilst this is lowered to 0.3 with the Pro account. However, bear in mind that the Pro (STP) account type will have commissions payable on each trade, which are pegged at £5.00 per lot (open and close). The leverages on offer will vary depending on the type of instrument being traded, but range from 1:2 on cryptocurrencies, and up to 1:30 on major currency pairs.

Trading is delivered through either the MetaTrader 4 trading platform, or the proprietary xStation platform developed in house.

Both trading platforms are fully customisable, and will more than meet the needs of even the most advanced traders out there. Advanced analytical resources and charting tools are available for both. Of these, the MetaTrader 4 is probably the most reliable; however, the xStation platform does make a nice change of scenery.

If you are a beginner or novice trader, XTB is a solid choice. The XTB trading academy has a number of resources on offer geared specifically towards helping novices up-skill. The trading academy offers a range of courses, video tutorials, and advanced articles designed to take you from a beginner to an advanced trader.

For intermediate and advanced users, the market news and analysis section provide a wide selection of market news and analysis which you can incorporate into your daily trading strategies.

The level of customer support on offer is generally very good, and it provides support for a number of different European languages. Local telephone support is provided in seventeen countries, which makes it one of the most diverse and accessible brokers out there.

Overall, XTB is a well-established online broker that has something to offer for both beginner and advanced traders. From the decent trading conditions to the highly useful educational resources, there is something on offer for everyone at XTB, and the free demo account makes it easy to try XTB out in a risk-free environment.

XTB (X-Trade Brokers) is a leading European broker founded in 2002 with 11 offices across the continent, including the UK, Poland, Germany, France, and Spain. As a reputable CFD provider that lists transparency and speed of execution as its core values, it has won a wide range of prestigious awards including Bloomberg’s EMEA #1 ranking in FX accuracy for 2018.

XTB does not presently accept clients from the United States.

Unique Features of Trading with XTB

While XTB offers a lower number of markets (1,500) to trade from compared to its UK counterparts such as City Index or IG, it does hold an edge in terms of its Cryptocurrency offering which puts it on par with the likes of eToro. Traders can choose from 9 individual Cryptos or 16 Crypto ‘crosses’ or pairs, where you can long or short pairs such as ETH/BTC or NEO/BTC. So if you have a view that one Crypto is better than another, you can now put that view into practice with XTB.

While XTB was one of the first brokers in the CFD space to offer Cryptocurrencies initially – launching CFDs on Bitcoin, Ethereum, Ripple, Litecoin and Dash in July 2017 that saw them become the recipient of various Crypto-based awards last year – its revamped offer signifies a significant step in competing with Binance as the central hub of Cryptocurrency CFD trading.

Aside from its Crypto markets, XTB also offers a fast deal execution service in over 50 currency pairs with available leverage of up to 30:1. Dealing spreads seem especially competitive at this broker, although they depend on the type of trading account the client opens. XTB offers two account types: Standard (floating spreads) and Pro (STP), with commission at £5.00 per lot (including the open and close). As an example, target floating spreads in EUR/USD currency pair is 0.9 of a pip wide for a Standard account, and 0.3 of a pip wide for a Pro account.

A trader can also open an XTB demo account to try out the broker’s award-winning xStation trading platform, which was voted ‘Best Trading Platform 2016’ by Online Personal Wealth Awards. The platform has a lot of features, including a sentiment map, live audio commentary, a video tutorial section and real-time performance stats that help you to identify weaknesses in your trading approach. Support for the popular MetaTrader trading platform and mobile trading apps are also available.

As of August 1st 2018 new ESMA regulations will affect leverage:

• 1:30 for major currency pairs
• 1:20 for non-major currency pairs, gold and major indices
• 1:10 for commodities other than gold and non-major equity indices
• 1:5 for individual equities and other reference values
• 1:2 for cryptocurrencies

XTB Trading Platform Software

XTB caters to just about every type of forex trader by offering support for the industry standard MetaTrader 4 dealing platform, as well as providing apps for mobile trading on the most popular mobile devices.

These professional quality electronic trading platforms provide forex traders with access to a trade execution facility in over 50 currency pairs, as well as a variety of other trading instruments, including stock indices, ETFs and commodities
Furthermore, the broker’s supported trading platforms each offer various analytical tools, technical indicators and real time charts. Support for web based trading is also available via this broker.

Compare XTB with other approved brokers

Broker Comparison Table

Regulation	FCA, BaFin, CMB, KNF	FCA, CySEC, FSCA, Seychelles FSA, Labuan FSA	FCA, FSCA, CMA and FSC	FSPR
Customer Support	email, phone, live chat	email, phone, live chat	email, phone, live chat	email, phone, live chat
Trading Platforms	WebTrader, Mobile Apps	MT4, MT5, WebTrader	MT4, MT5	MT4, MT5, WebTrader, Mobile Apps
Minimum Deposit	$250	$100	$200	$200
Leverage	From 1:2 to 1:30	Tickmill Ltd 1:500, Tickmill Europe 1:30 (retail) & 1:300 (pro), Tickmill UK 1:30 (retail)	Flexible	1:500
Total Markets	2100+	637	252	182
Total Currency Pairs	57	62	62	72
Total Cryptocurrencies	14	9 (* CFD Crypto trading is available only to Professional Clients under Tickmill UK.)	4	0

In addition to MetaTrader, XTB also offers its own proprietary trading platform known as xStation. This fully customizable platform offers advanced charting, abilities and real time price feeds.

XTB Deposits and Withdrawals

The minimum initial XTB deposit requirement to open an account is $250, €250 or £250. After the first deposit, there is no minimum deposit amount. While XTB offers maximum leverage of 30:1 in line with ESMA regulations, professional clients can utilise leverage up to 200:1 – as can traders who reside outside the EU (XTB International). Always remember that the higher the leverage, the higher the potential risk.

Deposits can be made free of charge through a bank transfer in US Dollars, Euros, British Pounds or Hungarian Florins. MasterCard, Visa and Maestro credit cards can be used with deposits in Sterling and Euros free of charge, while US Dollar deposits on credit cards are charged at the rate of 2% of the deposited amount.

Deposits made through e-wallets are accepted in Euros, US Dollars, Sterling and Hungarian Florins but please be aware that PayPal and Paysafe (formerly Skrill) charge 2% of the deposited amount

Withdrawals can be processed the same day if the request is made before 1pm GMT. If the request is made after 1pm, it is processed on the next business day. This applies to GBP, EUR and Domestic HUF withdrawals.

Beginner Trader Support with XTB

XTB’s Trading Academy offers new traders a vast array of features and tools geared towards helping novices trade successfully. The academy offers trading courses, video tutorials and articles on trading designed to enhance the trader’s skills at all levels.

In addition to introductory material on trading in the forex market and technical and fundamental analysis, XTB’s Trading Academy offers tutorials on MT4 and xStation, the company’s proprietary trading platform. Other material covered in the academy includes an introduction to CFD trading and risk management.

XTB also offers a wide array of trading packages that are free for both non-clients and clients, including a day trading strategy guide, a comprehensive Trader’s Library for beginners, and event-driven analysis like how to trade Brexit

Besides English, XTB has a multi-lingual website and also offers customer support in a range of languages. Access to the customer support feature can be made through email, telephone and live chat. XTB offers local telephone support in 17 countries, which include most of the EU nations and Eastern Europe

Is XTB Safe to Use?

As a regulated broker, the FCA’s rules and regulations have the company hold all client money in segregated accounts which are ring fenced apart from the company’s funds.

Access to personal accounts is done through a password and username unique to each customer and stored on secure servers. Payment details are encrypted through Ingrain devices providing tamper-proof protection of cryptographic keys that ensure encrypted data is kept secure and private.

Client funds are protected up to £50,000 through the FCA’s Financial Services Compensation Scheme or FSCS in the unlikely event of XTB’s insolvency.

Other XTB Trading Services

In addition to its Trading Academy and XTB’s security features, XTB offers clients a market news and analysis section on both its website and the xStation platform. The feature gives traders a large selection of market relevant news that could present excellent trading opportunities.

Also, XTB offers live market commentary and a comprehensive economic calendar covering 48 spot forex currency pairs. Furthermore, the company’s CFD trading feature covers over 20 indices from around the world, offering low spreads and high liquidity.

XTB Review Conclusion

XTB is an award winning broker that has been widely recognised within the forex trading industry for its fast deal execution service. The broker offers competitive dealing spreads, a wide variety of trading instruments, and minimal order slippage that should please most forex traders.

In addition, the broker is regulated by the FCA and other watchdog agencies, as well as segregation of funds. XTB not only offers its own fully functional trading platform xStation, but it also provides strong support for Metatrader and mobile trading.

Given its different account types designed to suit all levels of trader experience and interest, XTB seems a very suitable choice for a forex trading partner. You can try out this competitive forex broker’s trading platform and its customer support services at no cost by opening a demo account with them today.

About the author: Justin Freeman

Justin is an active trader with more than 20-years’ industry experience of working for big banks and hedge funds. He has an inside knowledge of how the financial markets work, thanks to roles including trader on a $750m Event-Arbitrage desk and CRO and COO of hedge funds running a variety of strategies. From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D. E. Shaw and Millennium Capital Management.

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#5	51% of retail CFD accounts lose money Founded: 2007	Global CFD & FX Broker (*Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more)	ALL-INCLUSIVE TRADING PLATFORM Visit broker	4.9
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Forex Fraud Certified Brokers

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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