XTB is a key player in the online CFD broker industry. It provides access to over 2,000 different instruments through its robust proprietary platform, which is known as xStation 5. Traders may speculate in foreign exchange, equities, and indices in addition to commodities, cryptocurrencies, and cryptocurrencies. This 2023 XTB Review will explain the trading spreads of brokers, mobile app services, assistance with customers, in addition to other services. You will be able to determine whether it is in your best interest to sign up for a live account.
Information about the Company
XTB is now one of the leading stock-exchange-listed brokers. The company was established in 2002. It is present in 13 countries, including the United Kingdom and Poland, among others. Germany and France, to mention only a couple of examples) Throughout the course of the previous 20 years, a total of 495,000 new accounts were established. Retail traders get immediate access into hundreds of market venues across the world thanks to XTB.
XTB is well-known for its openness, its lightning-fast execution, and its reputation for being an industry leader in both research and service provision. XTB and its crew were the recipients of a number of major accolades, one of which was the #1 rank in EMEA Bloomberg for FX accuracy in either Q2 2020 or Q3 2018 respectively.
The corporation is subject to oversight and regulation from a number of organisations, including the Financial Conduct Authority (FCA) and CySEC (CySEC) (UK Financial Conduct Authority).
Famous Trading Platform
XTB’s xStation 5, which is a proprietary trading platform that is managed by XTB, is an excellent piece of software.
The xStation5 trading platform was chosen as the winner of the Internet Personal Wealth Awards for 2016. It offers dependable immediate execution (on average 85 milliseconds), and there are no requotes involved in the process.
You can choose between a free remark on the market or a premium service reserved for other brokers. Your entire deal may be broken down into its component parts in an instant using the sophisticated calculator for trading.
In addition to this, it offers a detailed video training part, as well as stock screens, sentiment heatmaps, and real-time performance statistics. These statistics will break down your trading behaviour and highlight the areas in which you excel as a trader.
xStation5 may be played on mobile devices, including tablets, smartphones, and mobile phones. Also, you may utilise it with your connected smartwatch. When it comes to trading, you have access to a wide variety of technical tools and cutting-edge features. Every trader, regardless of their degree of expertise, will have no trouble operating the platform.
Web Trader
Traders and brokers now have the ability to use xStation 5 through the web thanks to the Web Trade platform, which eliminates the need to download any extra software. Chrome, Firefox Safari, Opera, and Safari are among the browsers that are compatible with it. The platform is compatible with both Windows and Mac operating systems, in addition to a broad variety of other devices.
Please take note that beginning in 2022, XTB traders will no longer be permitted to establish accounts on the MT4 platform.
Assets & Markets
Around 2100 instruments, spanning six different categories, are available for purchase through XTB.
57 different currency pairings may be traded on Forex. These cover all of the main currency pairings, in addition to a few of the lesser ones.
Stocks:XTB offers contract for difference (CFD) trading with more than 1,500 shares in firms that are traded in France, the United States, Poland, Spain, Portugal, Spain, or Switzerland.
Indexes: The website provides access to more than 20 indices from countries all around the world, including China and Germany.
ETFsTraders are free to speculate on 1,850 stocks and CFDs from across the world without being subject to any trading limitations.
Various Goods and Commodities Do business in the most common commodities, including gold and silver. Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), and Ethereum® are some of the most well-known cryptocurrencies currently in circulation (ETH). UK merchants not available
When our specialists learned that the online brokerage did NOT provide futures and options trading, they felt a sense of disillusionment and disappointment.
Spreads & Fees
In general, XTB provides all clients with rates that are competitive in the market.
In February of 2022, XTB began offering Standard account holders the ability to trade with no commission. Fees were already factored into the spread.
Commission fees will apply to each and every one of your Pro account’s trades. This will change based on the currency that is used as the basis.
Trades executed on margin could be required to pay an overnight swap cost depending on the overall exposure.
Opening an account is completely free, and there is no needed minimum deposit amount.
A currency charge of 0.5% will be assessed on any and all trades involving instruments whose value is denominated in or converted from the currency of the account.
XTB account
XTB has three account tiers: Basic, Standard, and Pro.
Setting up a free XTB Standard account is possible at any time. Spreads might be as little as 0.35 pips at the beginning. Minimum order size is simply 0.1 lots. The maximum leverage allowed is 1:30. Trading with the Basic and Standard accounts does not incur any commission fees, and traders are able to make use of automated trading. Upon your request, you can be provided with an Islamic account.
Options for accounts could be different from nation to country. Check out the official website to learn more about the different account types that are offered in your area.
Registers
must carry out their business in the same manner as all other licenced brokers. Know Your Customer, or KYC, is a requirement that must be met by XTB, as is protection against money laundering activities. These requirements are part of a series of checks designed to make trading more safe.
A button on the webpage will be labelled in green with the words “Create account.” Customers will be required to provide their personal information, which may include their name, national insurance number, and telephone number.
After that, you will be given the opportunity to select the trading platform, the kind of account (Basic or Standard), the language, and the currency.
The final step is to check your credentials and confirm your identity. These are the approaches that may be utilised for the purpose of confirming one’s identity and verifying one’s address:
Identification documents such as a passport, driver’s licence, and identity card
Traders furthermore have the opportunity to submit a photo of their identification card via their mobile device. The copy has to be brought up to date and maintained in a clean state.
When everything is finished, customers will be able to log in to begin trading.
Traders can apply for a genuine account with a real broker by filling out a straightforward online application.
XTB
Famous Mobile Apps
Traders now have the ability to place orders using the XTB mobile app.
Customers using mobile trading are able to access to more than 1,500 financial markets all around the world using a mobile platform that has been completely optimised. The management of accounts, as well as access to charts and other tools required for real-time trading, may also be accomplished through mobile trading.
Tablets and mobile devices running Android as well as those running Windows and iOS are supported. Simply go to the application store in your area and download the XTB app for your mobile device.
Mobile App
Deposits
The XTB broker is able to take wire transfers, credit and debit cards (Visa, Mastercard, and Maestro), electronic wallets such as Skrill and Paysafe, and other payment methods. Nonetheless, you will only be able to access this in the nation in which your account is registered. The vast majority of payments are handled instantly.
XTB does not impose any fees on deposits made. There is a 2% fee associated with using Paysafe. If a customer makes a transfer in a currency that is not the base currency of their account, they may be subject to exchange rate costs.
HUF, Euro, and Pounds Sterling are the currencies that may be used.
XTB Withdrawals
Withdrawals will be handled on the same day if the request is received before 1pm GMT. In the event that the request was submitted after 1pm GMT, it won’t be processed until the day after the next working day. This is true for withdrawals made in both domestic HUF and foreign currencies such as GBP and EUR.
Your withdrawals will be sent to the banking account that you have designated. You will be required to produce documents in order to access this account.
The vast majority of withdrawals are free of charge. There is a possibility that withdrawals will incur a nominal cost. On the official website, you can discover a complete rundown of the fees that will be assessed.
XTB Leverage
The amount of power that clients have will be contingent on both their location and the regulations that govern the area.
Residents of the UK are welcome to join XTB Limited UK. The maximum amount of leverage that can be used by businesses regulated by the FCA is 1:30.
A leverage of up to 1:30 has been granted to EU citizens under CySEC law. Non-EU residents enjoy greater flexibility. There is a possibility of leverage up to 1:1500.
Demo Account
A free demo account may be obtained from XTB.
You have access to the account for a period of four weeks. Each customer’s account is credited with $100,000 worth of virtual currency. Customers have access to more than 2,100 CFD markets, some of which include commodities, indices, and currencies.
Help is accessible 24/7 (Monday to Friday)
Demo Trading
Regulation & Reputation
Various financial agencies monitor XTB subsidiaries.
The Financial Conduct Authority is in charge of regulating and supervising XTB UK, which operates under licence number 52157. CySEC is in charge of licencing XTB Europe, which operates under licence number 169/12.
X Trade Brokers DM SA is licenced by the Polish Securities and Exchange Commission with licence number DDMM-4021-57-1-2005 and is supervised and supervised at the Polish Financial Supervision Authority Komisja Nadzoru Finansowego. XTB International is regulated and supervised by the Belize International Financial Services Commission under licence number IFSC/60/413/TS/19. X Trade Brokers DM SA is licenced by the Polish Securities and Exchange Commission with licence number IFSC/60
XTB Spain is under to oversight by the National Securities Market Commission (Comisión Nacional del Mercado de Valores), which issues its licence (no. 40).
XTB MENA is now in possession of a category 3-A licence issued by the Dubai Financial Services Authority (DFSA).
The guidelines of the firm stipulate that customer monies must be held in a separate location from corporate funds at all times. Under the terms of the financial service compensation programme, the money of traders might be safeguarded up to an amount equal to 85,000 GBP if insolvency proceedings are initiated (FSCS).
Resources
XTB gives its customers access to a wide variety of individualised educational resources, some of which are offered at no cost.
Our specialists discovered a variety of internet resources, including articles, training videos, and tools for hosting live webinars. The trade library is available for free download on the website. This is an excellent starting point and reference for novices.
An other alternative is the “Trade Academy.” Intermediate, Experts, Experts, and Premium are the many levels available through the online academy. The themes of technical analysis and fundamental analysis are discussed in depth in the intermediate portion.
In addition, XTB has collaborated with the legendary football coach Jose Mourinho to provide information about how to approach the financial markets and handle stress.
Trading Alerts
Customers have the opportunity to sign up to get mobile trade notifications from specialists in the sector. Over a period of seven days in a row, users can access the service for no additional cost. Following that, there will be a charge.
WhatsApp is able to transmit notifications in real time, which might include breaking news as well as upgrades at crucial technical levels.
Canary Wharf, which is home to XTB’s headquarters in London, is also the location of the company’s regular Trading Club meetings. This is a wonderful opportunity to talk business with other merchants. These groups encourage free discourse and give insight on live markets.
Support for Customers
You may contact the members of our customer care team by chatting with us live, calling them, or sending them an email. We are here for you around the clock, 365 days a year. An Account Manager is provided for each customer in the event that they have queries concerning their account.
You may get in touch with us for support in the following languages:
English Czech French German Hungarian Italian Portuguese Polish Russian Romanian Spanish Slovak Turkish Vietnamese Thai Arabic English Czech French German Hungary Italian Portuguese Polish Russian Romanian Spanish Slovak Slovak Turkish Vietnamese Thai Arabic
Please take note that due to the rules in place, XTB cannot operate anywhere in the United States.
Benefits
Our team of analysts found that XTB provided a great deal of value to traders.
a global presence, cashback rebates, a free sample account, more than 2,100 instruments, mobile trade notifications, micro lot trading, spreads beginning at 0.01 pips, and flexible account choices are all features offered by this broker.
Accounts for professionals are available, and global investors have access to a leverage ratio of 1:500.
No minimum deposit requirements
A variety of instructional resources that may be utilised to assist pupils in acquiring knowledge.
FCA and KNF, CySEC, and IFSC regulation. Assistance accessible Monday through Friday, 8:00 AM to 5:00 PM (GMT+0).
Recipient of several accolades and awards, including “Best Forex Broker Award,” “Best Trading Platform,” and “Internet Personal Financial Wealth”
Drawbacks
However, there are several restrictions to consider before establishing a real XTB account, including the following:
CFDs are the sole type of instrument that predominate in the portfolio, and clients from the United States are not permitted to access this offer.
Safety & Security
To ensure the safety of its customers’ money, XTB employs a variety of security procedures.
Access can only be granted with the use of a password, a fingerprint, or a code, according to the access authorization policy.
Connections that are entirely encrypted; all of the connections that are made between XTB and mobile applications have been fully encrypted. Key modifications for multifactor authentication can only be done after an individual’s identity has been validated using various ways.
Well developed infrastructure for online networks XTB is always working to enhance the quality of its infrastructure. XTB is always looking to improve its services by implementing new and innovative technology.
XTB is governed by a number of organisations that are widely regarded as among the best in the world. They make certain that the broker maintains a high level of performance at all times.
XTB Verdict
XTB Broker is a reputable and well-established broker that gives traders access to a wide range of marketplaces throughout the world. Terminal that has won several accolades is the innovative trading platform known as xStation. Spreads and account choices can be adjusted to better meet your requirements at any time.
If you are a trader who is situated in the EU or the UK, XTB might be a fantastic solution for you. Customers located in the United States will be unable to use the services.
Accepted Country
Traders can come to XTB from a variety of countries, including Thailand, the United Kingdom, South Africa, and Hong Kong. The French and the Germans. Norway. Sweden. Denmark. Saudi Arabia. Kuwait. Luxembourg. Qatar.
Traders are not permitted to utilise XTB that was produced in the United States of America, Canada, Australia, or Japan.
FAQ
Is XTB regulated
Indeed, the Financial Conduct Authority (FCA) oversees XTB Ltd. (UK). CySEC is the regulatory body in Cyprus that oversees XTB Ltd. (Cyprus Securities & Exchange Commission). You may also get information on other prominent agencies that are the brokerage’s regulators.
Minimum Deposit Required at XTB
XTB does NOT need a minimum deposit. There is no cost associated with opening an account. Because of this, it is a popular option among beginning traders who seek to speculate on the stock and FX markets.
Competitors of XTB?
Brokerage services are provided by the financial organisation known as Exante. It has its headquarters in Europe, and it provides a wide variety of financial products and services to retail as well as institutional customers. These products and services include exchange-traded funds (ETFs), alternative investments, and bespoke portfolios. The primary focus of the firm is on using technological advancements to give customers open and unfettered access to a diverse variety of financial markets in an effective manner. Address: 28 October Ave 365, Limassol 3107, Cyprus
What is X Trade?
The abbreviated version of XTB’s full name is XTradeBrokers. The history of the company begins in the year 2022. It now has more than 500,000 customers.
XTB have a facebook page?
XTB does, in fact, have its own page on Facebook. You may search XTB to find the Facebook page for your local area. In addition to that, the brokerage is active on Instagram and LinkedIn.
Are XTrade Brokers?
The X Trading Brokers company’s shares are currently traded on the Warsaw Stock Exchange. The Polish Financial Supervision Authority is the entity to whom they report. Yet, the company is comprised of numerous different companies, each of which serves tens of thousands of clients around the globe. We present a comprehensive summary of the company’s background information.
