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XTB Review

Published by Usman Ahmed, MBA (Researcher)

Reviewed by Bowen Khong, ACCA

XTB is a multi-asset brokerage firm known for its first-class trading environment and exceptional customer services. Besides having multiple regulations in various jurisdictions worldwide, the company holds a listing on Warsaw Stock Exchange (Poland).[1]

Being a low-risk broker for trading forex and CFDs, the firm has evolved to be a preferred choice for newbies and skilled professionals. In this piece, I discuss various features of the broker in detail. 

Overview

Established in 2002, XTB is a forex broker headquartered in Poland. XTB is one of the largest brokerage firms providing retail trading services across hundreds of financial instruments. The broker became publicly listed on the Warsaw Stock Exchange in 2016. With its regional offices in more than 13 countries, the broker serves 275,000 clients worldwide. 

The broker is regulated by various top-tier regulatory authorities, such as CySEC, KNF, IFSC, and FCA. The company also offers indemnity insurance of up to $1 Million per client through its entity in Belize. 

ProsCons
Offers proprietary trading platform
Multiple regulations
Excellent customer support
Indemnity insurance available
Excellent research and educational resources
Offers limited fundamental data
Does not accept US clients 
Charges in-activity fee
Higher CFDs cost

Who XTB Is For ?

XTB is for all trading enthusiasts who seek reliable trading conditions accompanying competitive pricing. The broker takes pride to offer instant trade execution along with tight spreads, making it a perfect choice for high volume traders. 

XTB’s flagship xStation5 trading platform is equally suitable for both newbies and veterans due to its easy-to-use interface. Clients can trade a wide range of financial instruments with the flexibility of choosing the account type that suits their trading needs. The broker also hosts a cash rebate program that can prompt discount traders to join. 

XTB demo account comes with unlimited expiry, enabling traders to test their trading skills without losing the actual funds. In short, XTB can be the ultimate solution to all of your trading needs. 

Rating: 4/5

Sign up bonus: The broker does not offer any sign-up bonus at present.

Is XTB Safe?

Yes, XTB is a safe broker for margin-based trading. While the broker’s multiple regulations offer reasonable assurance concerning the security of your funds, public listing speaks for the broker’s competency itself. Besides keeping clients investments in segregated bank accounts, the broker maintains enough liquidity to remain a going concern. 

With advanced security protocols, such as Secure Socket Layer (SSL) web encryption and two-step authentication, the company keeps clients’ confidential data well secured. Moreover, the broker offers indemnity insurance, enabling clients to claim their losses up to $1 Million in case the company goes into liquidation. 

Conclusively, the broker has more reasons to trust than being suspected.

Year founded:2002
Publicly traded: Yes (Warsaw Stock Exchange)
Licenses: CySEC, KNF, IFSC, and FCA
Backlist: Nil

Offering of Investments 

XTB has a rich product portfolio. Clients can select from a wide range of tradable assets, including forex, stocks, indices, metals, and cryptocurrencies. However, the product offerings may vary from country to country. For example, UK based clients can’t trade crypto CFDs amid the FCA restrictions. Similarly, cash rebates are available for residents of specific countries only. 

While the broker offers clients to trade more than 3000 CFDs, a total of 57 forex pairs are available to trade at XTB. Other tradable assets include 35 indices, 22 commodities, 1846 stock CFDs, and 137 ETF CFDs. The broker also offers more than 7000 cash equities. Although your favourite tradable instrument is likely to be available on the broker’s list of offerings, still it is best to ask the broker to confirm the availability of a specific asset before the sign up. 

Rating: 4/5

Forex: Spot TradingYes
Currency Pairs (Total Forex pairs)50+
Social Trading / Copy-TradingYes
CFDs instrumentsForex, Stocks, Indices, Metals, ETFs, Crypto

Commissions & Fees

XTB pricing is quite competitive. However, spreads are slightly higher when traders use MT4 instead of xStation5 – the broker’s proprietary trading platform. While the company employs floating spreads, the spread cost depends upon your selected account type. At times, the broker offers two types of accounts, namely Standard and Pro.

Let’s quickly review some features offered in each account type; 

Standard: While the minimum deposit to open a standard account is not specified, it should be equal to a minimum margin needed to open a position. Earlier, the broker used to ask clients to deposit $250 at least. Standard account’s minimum spreads start from 0.35 pips. Clients can access nearly 1500 tradable instruments along with a maximum leverage of 1:30. The broker also charges a commission of 0.08% per lot on trading Stocks, CFDs, ETFs and CFDs. Standard account’s average spread stays between 0.8 to 0.9 pips on major currency pairs, such as EUR/USD. 

Pro: The minimum deposit to sign up for a pro account is the same as the Standard Account. The pricing in the Pro account is also similar to the standard version, especially when trading higher volumes. The only difference is the availability of cash rebates offered to professional traders. Also, the broker doesn’t provide compensation to professional traders.

I would recommend clients to use a standard account since it appears more competitive than the Pro account.

Note: Islamic accounts are also available upon request.

Rating: 4/5

Minimum Initial DepositNot Specified
Average Spread EUR/USD – Standard0.9 pips
All-in Cost EUR/USD – Active1.0 pips
Minimum withdrawal $50

Platforms & Tools

Fortunately, XTB does offer a proprietary trading platform – xStation5, in addition to the industry-standard MT4 trading platform. The sleekly designed xStation5 features powerful tools and a user-friendly trading interface. Trading tools such as heatmaps, stock screeners, and sentiment analytics makes xStation5 compete with the industry-standard trading platforms on higher nodes. The proprietary platform’s charting tool is also commendable. The charting window has a timer, indicating the time left for each candlestick, and it broadcasts economic news, keeping traders abreast of the market. 

Not to mention, xStation5′ innovative investment basket tool takes your trading experience to the next level. Clients can add various symbols into the basket and execute all of them with one-click trading. The customized investment basket can have short and long-term positions, making it quite convenient for clients to employ complex trading strategies. 

On the other hand, MT4 is also one of the most popular trading platforms having all the features and tools available that are needed for a meaningful trading experience. Since automated trading is not available on the xStation5, clients can use MT4 as an alternative. 

While traders can access both platforms online, clients can also have them installed on their PCs and Mobile phones. Since MT4 is slightly expensive to use, clients may prefer sticking to the xStation5 at XTB. 

Rating: 3.5/5

Virtual Trading (Demo)Yes
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Charting – Indicators / Studies (Total)50+
Charting – Drawing Tools (Total)30+
Charting – Trade From ChartYes
Order Type – Trailing StopYes

Research 

XTB research facility also ranks higher when compared to other brokerage firms. Although trading central and auto chartist tools are not available at XTB, the company’s exclusive trading strategies offer contended experience to clients. Besides access to major economic headlines, research tools such as economic calendar and sentiment analysis help clients remain updated concerning upcoming economic events and the latest industry trends.

While stock screeners enable clients to filter out their preferred tradable assets, trading signals with price analysis from third-party providers help traders to make informed trading decisions. Not to mention, the broker also offers video content covering daily market updates. However, the English content seems to be missing the variety compared to videos available in other supported languages. Overall, the research section is explicitly well maintained.

Education 

XTB’s education section is also full of informative content. Clients can find written and visual tutorials featuring a range of topics suitable for newbies and professional traders. 

The broker has classified educational content into four categories: basic, intermediate, expert, and premium. Moreover, each class comes with a subject filter making it easy for clients to access the desired content directly. While there are 30 lessons available for basic level traders, the intermediate category comprises 14 lessons. 

However, the broker is yet to add lessons in the expert and premium sections. Traders can also find written content on more than 70 topics subcategorized under three heads, including your account, our platforms, and trader’s library. The broker also hosts live webinars enabling traders to learn trading tips and techniques from the broker’s expert panellists. 

Mobile trading platform

XTB also facilitates on-the-go users via its top-class xStation Mobile app. Although the MT4 mobile platform is also available, traders prefer to use the xStation Mobile app due to its superior features. 

While clients can access some identical features as offered via a web-based version, such as news streaming, top movers, sentiment data, and an economic calendar, the mobile app still lacks watchlist synchronization. 

Despite the screen limitations, charting tools work well on the XTB’s xStation Mobile app. While clients can easily zoom in and out on different time frames, the addition or removal of indicators on the mobile app is also a hassle-free process. 

Rating: 3.5/5

Mobile devices Apple and Android
FeaturesWatchlist, charting tools, price alert, one click trading, etc.

Final Thoughts 

XTB is a reliable broker that provides a rich trading experience with its vast array of tradable assets, superior trading platforms, robust trade execution and empathetic customer support. 

While multiple regulations make it transparent and secure, funds indemnity insurance could be a significant attraction for many risk-averse traders. XTB is undoubtedly a threat to many of its rivals. 

Frequently Asked Questions (FAQs) 

Is XTB a Market Maker?

XTB Limited isn’t a market-maker broker. XTB Ltd sends all trades automatically to its parent company X-Trade Brokers DM, which is XTB’s liquidity provider. Therefore, all trades are executed automatically without any intervention from the broker. The information is available on the company’s official website. 

Is XTB good for day trading?

Since XTB is a listed broker and publishes its financial statements regularly, clients can rest assured of transparent pricing. Moreover, the chances for price manipulation become significantly lower with XTB since it passes clients’ orders directly to the market without interfering with them. Therefore, it can be considered a good choice for day traders. 

Does XTB accept clients from the USA?

Unfortunately, the broker doesn’t accept clients from the USA due to regulatory restrictions. Also, XTB services are not available to the residents of the following countries; 

  1. India 
  2. Indonesia 
  3. Pakistan 
  4. Syria 
  5. Iraq
  6. Iran 
  7. Australia
  8. Albania
  9. Belize 
  10. Belgium 
  11. New Zealand 
  12. Japan 
  13. South Korea
  14. Hong Kong
  15. Mauritius
  16. Israel
  17. Turkey 
  18. Venezuela 
  19. Bosnia
  20. Herzegovina 
  21. Ethiopia 
  22. Uganda
  23. Cuba 
  24. Yemen 
  25. Afghanistan
  26. Laos 
  27. North Korea 
  28. Guyana 
  29. Vanuatu 
  30. Mozambique 
  31. Republic of the Congo 
  32. Libya
  33. Macao
  34. Panama
  35. Singapore
  36. Bangladesh
  37. Kenya
  38. Palestine
  39. Republic of Zimbabwe

Does XTB allow traders to use scalping and hedging techniques?

Yes, XTB is amongst the few brokers who hold minimal trading restrictions. Hence, traders can use both scalping and hedging techniques at XTB. 

Does XTB charge an inactivity fee? 

Yes, XTB does charge an inactivity fee from clients who remain inactive consecutively for more than a year. The broker also charges a $10 fee if more than 90 days have been passed since you made a cash deposit. 

Is there a minimum withdrawal limit at XTB?

Yes, clients can withdraw a minimum of $50 at XTB. The broker charges an extra commission of $30 if the withdrawal amount is less than $50. 

Does XTB offer round the clock customer support?

No, traders need to contact the company during official hours. However, the company takes customer service very seriously and responds to every query raised. You can get into contact with the company via telephone, email and live chat. 

Usman Ahmed, MBA (Researcher)
Usman Ahmed, MBA (Researcher)
Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience. Besides holding a Masters degree in Business Administration, he has worked for some of the most renewed companies in the forex industry including FXCM, IQOption, MetaQuotes, Alpari, FXStreet, DailyFX and several others. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style. He believes in naked chart trading analysis that is commonly known as price action trading. He follows global financial news and macro-economic events very closely.
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