XTB Broker Review


Minimum Deposit
$250
Regulators
BaFIN, CMB, FCA, KNF
EURUSD Spread
as low as .3 Pips
US Traders
No
Platforms
xStation, MT4, Mobile
Founded
2002
Country
UK

XTB is an online FX/CFD brokerage which has been around for quite some time now. For the industry veteran that it is, the feedback it has thus far managed to earn from its users, is very impressive indeed. That is not to say of course that it has only earned high marks from its traders, but for the most part, users are pleased with the services offered by the broker.

While few and far between, complaints always deserve a second look. Some of the disgruntled clients of the broker have pointed out the alleged arrogance and incompetence of the support staff (even as others expressed their appreciation for the professionalism shown by the same department), while others have alleged stop-loss manipulation. Still others say that according to the broker, not all prices are shown on the charts, for “technical reasons”, which – if true – is downright shady indeed.

Other problems apparently included the not awarding of prize money won by a trader, in a promotion of some type.

The corporate entity running the XTB brand is XTB Limited, based in the UK. The exact address of the company is Level 34, One Canada Square, Canary Wharf, E14 5AA, London. The company registration number is 07227848. Needless to say, the brokerage is licensed and regulated by the FCA. The FRN number of the operation is 522157.

What that means is that XTB is a member of the Financial Services Compensation Scheme, and that obviously provides rather solid guarantees for depositors.

Focused mostly on Europe, XTB have physical offices set up in no fewer than 13 countries. In addition to the UK, the operator also has a presence in Germany, France, Poland and Turkey.

On top of FCA regulation, the broker is also registered with the KNF and CMB.

Why would you make XTB your top trading destination though?

The broker offers a superb selection of trading platforms. As a matter of fact, in 2016, it picked up the “Best Trading Platform” award, from Online Personal Wealth Awards.

Besides advanced charting and total transparency, XTB’s trading platforms offer outstanding execution, as well as access to an economic calendar and live market commentary.

Dedicated account managers are also available (though in this regard we do have certain reservations when it comes to the actual utility of this service). Education-wise, there are other avenues available, which are much more straightforward and potentially more rewarding too.

The broker offers an online trading academy, complete with daily webinars and video tutorials, and there is one-on-one mentoring available too.

The operator maintains an open-door policy at every one of its physical offices, so those interested can pay them an actual, in-person visit.

As far as trading tools are concerned: these are indeed diverse and numerous. XTB traders have a handy calculator at their disposal, which tells them the amount of risk and potential reward they assume through every trade.

Performance statistics may sound boring at first glance but they can be extremely useful: by analyzing them, traders can improve radically. Thanks to the flexibility of the trading platforms, trades can be managed from a wide range of devices, such as laptops, smartphones and tablets.

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
  • Read more here.

XTB Trading Platforms

XTB currently offer two trading platforms, one of which is the industry-leading MT4.

MT4 features the most complete and impressive charting package, with multiple time frames, chart-types and drawing tools. Scores of technical indicators are included in the package, and traders are free to install more.

The whole MT4 trading environment is customizable. Indicators, EAs and custom scripts can be purchased from 3rd party creators and traders can even create their own on the platform.

Expert Advisors make trading automation possible. Coupled with custom scripts, these tools are indeed some of the most popular in online trading. To facilitate the proper functioning of EAs, it is recommended to run them on a VPS. This way, they can be kept running around the clock.

EAs are quite useless without a proper strategy powering them though, so MT4 have dedicated resources to strategy testing too. Back testing is possible on all trading instruments and time frames.

xStation5, the other platform featured by XTB, is an award-winning trading environment, the main selling point of which is flawless execution. Like MT4, xStation5 also makes off-the-chart trading possible. The platform offers a handy trade calculator, as well as advanced technical analysis.

Those who like to trade the fundamentals, will love this platform too: it allows traders to turn market analysis and news into their on-platform live-feed, so they can react instantly to everything of significance that transpires through these communication channels.

The market sentiment indicator incorporated into the platform gives traders a general idea on exactly where their peers stand on certain issues. To further augment this feature, the Top Movers tab and the heatmap paint a clear picture of the market moves and volatility.

XTB Account Types

The broker only features two account options: the Standard Account and the Pro one. The two accounts offer the same features by-and-large, though obviously, there are a few differences between them in regards to the trading conditions.

They both feature market execution and they both offer access to both trading platforms, as well as to the full range of tradable assets (which currently translates to more than 1,500 trading instruments). The maximum leverage offered by both accounts is 1:30.

As said above, the spreads do differ a bit though: on the Standard Account, the minimum spread is 0.35 pips. On the Pro one, this has been set to 0.28 pips though. On some asset-classes, commissions are charged too. For instance, on Equity CFDs and ETFs, an 0.08% commission is charged, per lot – and this is valid for both account-types.

On FX, indices and commodities, the Standard Account does not charge a commission, while the Pro account does: namely 2.50 GBP per lot.

Deposits and Withdrawals

In this regard, XTB have stuck to a fairly standard selection of payment methods. Credit and debit cards (like VISA and MasterCard) are accepted, together with bank wire and eWallets, such as PayPal and Skrill.

In regards to PayPal and Skrill, traders have to be aware that upon making a deposit, they’ll be charged a 2% fee.

EUR, USD, GBP and HUF are accepted as far as currencies go.

Market Coverage 

XTB’s market coverage is excellent. The broker offers more than 50 FX pairs, as well as scores of equity CFDs and commodities. The leverage is the highest on FX. On commodities, the maximum in this regard is set to 1:66.

Interestingly, besides the traditional asset-classes, the broker also features bitcoin-based CFDs. The maximum leverage one is allowed to use on this asset-class is 1:5, and the maximum exposure is limited to EUR 15k.

No actual crypto wallet is needed to trade BTC at XTB. That’s because one can’t purchase BTC through the broker: only a BTC-rooted financial derivative is traded, not the actual cryptocurrency. 

The Bottom Line

XTB looks like a more than decent trading destination and indeed, it has a rather impressive reputation among traders.

Its trading platform and trading tools are impressive and very useful. The XTB support is said to be excellent (although there’s feedback out there saying otherwise).

The trading conditions are good and so is the market coverage.