XTB ReviewOpen Demo Account
Originally founded back in 2002, XTB Online Trading is one of the largest stock exchange-listed FX & CFD brokers in the world. A multi-award-winning broker, since its inception it has gone on to numerous prestigious accolades and is authorised and regulated by the world’s biggest supervision authorities. . In this XTB review, we’ll be taking a look at everything you need to know about this broker, including account types, regulation, trading platforms and more.
- Regulated by the FCA
- More than 15 years of experience
- Strong educational tools and resources
- The portfolio includes few assets other than FX and CFD
What canyou trade at XTB?
XTB Forex Review
This forex review appreciates the range of FX offerings from the broker, which should help it appeal to a range of clients.
Those in the UK have access to trading 48 currency pairs, including majors, minors, and exotics. The availability of micro-lots allows you to appeal to more traders, even those who are looking to make smaller investments or who want to minimise risks while they practice CFD trading.
Spreads found in an forex review can be as low as 0.1 pips, which is the case for EUR/USD. For transparency, maintains a list of spreads, bids, asks, per cent change, and trading hours for all forex pairs offered.
XTB CFD Review
An XTB CFD review includes nearly every asset that is tradeable via the broker, with the exception of forex. Clients can use them to trade CFDs of indices, commodities, stocks, ETFs, and cryptocurrencies.
Clients can make use of 42 indices from around the world, including China, Germany, and the United States. Leverage on indices can be up to 20:1 with competitive spreads. There are also 21 commodities, 1,720 stock CFDs, 103 ETF CFDs, and 25 crypto CFDs. As you review CFD trading for shares, you will appreciate the low commissions, the ability to go long or short, margin of 5:1, and the negative balance protection.
XTB Stocks Review
As mentioned, stocks are available as part of the offerings found in an CFD review. There is no direct purchase of stocks available, with clients instead only accessing them via CFDs.
Trading stock CFDs with gives their clients access to the ability to go long or short and trade more than 1,500 global stock CFDs. These include the biggest names around the world, such as Facebook and Apple. Leverage for stock CFDs can be up to 5:1. Commissions start at 0.08 per cent and are transparent.
XTB ETF Review
This review also points out that clients can trade CFDs for ETFs with the broker.
As you review XTB’s ETFs, you will notice that leverage can be up to 5:1 and commissions start at just 0.08 per cent. Clients do not have to worry about any requotes due to market execution. There is also negative balance protection for this type of asset.
XTB Cryptocurrency Review
Due to 24/5 market hours, clients can review XTB cryptocurrency offerings and make trades at nearly any time. The markets have a 365-day contract expiry with high liquidity.
This cryptocurrency review appreciates that in addition to nine individual coins available via the broker, it also offers 16 cryptocurrency pairs. All come with competitive spreads and the choice of platforms. As an example of the offerings, the ability to trade Bitcoin includes leverage of up to 2:1 with a target spread of 1 to 1.5 per cent of the market price.
What did our traders think after reviewing the key criteria?
Compared to other brokers, this XTB review shows that this broker’s fees are average to low. There is no fee to set up an account or management.
Standard accounts have no commissions on forex, indices, commodities, and cryptocurrencies as the profits are made via spreads for these assets. Commissions on standard accounts start at 0.08 per cent per lot for stock and ETF CFDs. For Professional accounts, the commissions on ETF and stock CFDs remain the same. In return for tighter spreads, commissions start at 3.00 GBP per lot for the other assets.
As you review, you will notice two main types of accounts to choose from, Standard and Professional. Both offer market execution and access to more than 1,500 instruments, including forex, indices, cryptocurrencies, stock CFDs, commodities, and ETF CFDs. Both account types further offer negative balance protection and automated trading, with free account setup and free account management.
Standard accounts offer a maximum leverage of 30:1, a minimum spread of 0.35, and a minimum order of 0.01 lots. Trades are commission-free for forex, commodities, indices, and cryptocurrencies, with commissions on stock CFDs and ETF CFDs starting at 0.08 per cent per lot.
Professional accounts have the same maximum leverage and minimum order size but offer minimum spreads of 0.28. The commissions for ETF CFDs and stock CFDs also start at 0.08 per cent. An XTB review of professional accounts will also mention that commissions exist for forex, indices, commodities, and cryptocurrencies, starting at 3.00 GBP for each lot.
Those who want higher spreads can opt for an Elected Professional account, but these have stricter requirements. Opening this type of account will provide you with leverage of up to 200:1, but it does eliminate benefits such as negative balance protection. Qualifying for the Elected Professionals program requires an application and for users to meet certain minimum requirements. Two of the following three must apply:
(1) Clients must have a balance of at least 500,000 Euros in their accounts, including cash and assets. (2) They must also have completed an average of at least 10 significantly sized trades each quarter for the past four quarters. And/or (3) they must have a minimum of a year of experience in a professional position that required relevant trading experience with similar high-risk investments. If you review in addition to other brokers, you will notice that these requirements are standard across companies.
Demo accounts are also available, allowing potential clients to review themselves before making any financial commitment to the platform or a real-money investment. The demo account with the xStation platform lasts for four weeks and provides you virtual funds of £100,000, allowing clients to review themselves.
This UK review outlines three platforms available for traders with this broker. There is the company’s proprietary xStation platform, the mobile version of it, or the well-known and incredibly popular MetaTrader 4 platform.
xStation is an award-winning platform that is intuitive to use and offers superior execution speeds. It provides access to the full spectrum of more than 4,000 instruments, including those found in an cryptocurrency review. Other key features include access to market sentiments, comprehensive charts showing price movement, easy risk management tools, simple in-built trading, and access to the economic calendar and expert analysis right in the platform.
The standard version is the Web Trade Platform, which is compatible with Chrome, Safari, Opera, and Firefox. Alternatively, clients can download a desktop version for either OS X or Windows computers. The xStation mobile application is incredibly similar, offering full access to more than 1,500 instruments and the same features you would find as you review web or desktop xStation.
Those with more experience will likely already be familiar with the MetaTrader 4 platform and be happy to see it in our forex review. MetaTrader 4 (MT4) is simple and incredibly popular, with nearly every major broker offering access to it. As such, extensive support documentation and tutorials are available online, both in XTB UK review articles and general MT4 reviews.
MetaTrader 4 is available for desktop, tablets, and mobile devices, with full compatibility across Windows, Mac OS X, iOS, and Android. The platform features pattern recognition tools, among other advanced analytics tools. Our review also suggests traders use the MT4 Strategy Tester, which allows you to backtest strategies across intervals and market assets. MT4 also offers extensive customisation, including via the automated trading solutions from other MQL4 community members and the ability to create your own automated trading.
This review considers the broker’s website and platforms to be highly usable. The navigation is clear on the main website thanks to the main navigation bar with drop-down menus and the bottom navigation menu. A readily available search bar would be a nice addition, but that is likely the only thing traders will miss as they review forex and other asset offerings.
The platforms clients use with XTB are also highly usable, with intuitive functionality that should present a minimal learning curve. Information is easy to find, including the incorporated details such as news and the economic calendar.
Additionally, most who review will agree that the website has a professional appearance with its clean white background and mostly black text. The occasional use of colour helps keep the page interesting while maintaining that professionalism.
As we researched for this XTB review, we found many positive points in favour of the broker’s customer support. UK clients can visit the office in person at Canary Wharf in London. There is also a live chat function, an email address for support, and separate phone numbers for account opening, 24/5 support, marketing, and the office. Additionally, broker has 12 other offices around the world.
Clients should be able to find the answers to most questions on the extensive Knowledge Base of the website. This is where you will find the FAQ page, which includes questions divided by categories as well as a search bar.
Those who review XTB CFD accounts will appreciate the range of payment methods. Clients should keep in mind that depending on the base currency of your account and that of your payment method, you may have to pay additional conversion fees.
There is no fee from XTB to make a deposit using a credit card and you can do so with GBP, EUR, or USD and MasterCard, Visa, or Maestro. Your credit card may charge you a fee, though.
Bank wire transfer
Bank wire transfers are free for deposits, although your bank may charge a fee. Deposits can be made via this method in GBP, USD, EUR, or HUF.
Allows for deposits via Paysafe/Skrill or PayPal in GBP, USD, EUR, or HUF. This type of deposit comes with a 2 per cent fee.
In addition to the Knowledge Base with a range of useful information, our review appreciates the extensive amount of educational materials available from the broker. There is an entire section of the website called “Learn to Trade.” This includes the Trading Academy with information divided by skill levels, access to live webinars, and additional access to the FAQ section.
There is also a section of the XTB website dedicated to market analysis, including up-to-date news, an economic calendar, and price tables.
Regulation & Deposit Protection
This review is pleased to let consumers know that the broker is regulated and authorised by the Financial Conduct Authority (FCA). This includes protection of as much as £50,000 per person if an insolvency occurs, via the Financial Services Compensation Scheme.
XTB takes client fund security seriously and stores those funds in segregated accounts.
In addition to this XTB review, many other sources have praised broker, honouring the broker with awards over the years. Some of the most recent honours include “Best CFD Broker in 2019” from BrokerChooser, Good Money Guide’s “Best Crypto Broker” in 2018, “Best Islamic Forex Broker” and “Best CFD Broker in 2019” from M&A Today Awards 2018, M&A Today Global Awards 2018 Winner, and Wealth & Finance Global Excellence Awards’ “Highest Rated FX/CFD Broker 2018.”
XTB is a multi-regulated CFD broker with offices in more than 13 countries, including the UK, Germany, Poland, Turkey and France. The regulatory agencies governing XTB are the tier-I Financial Conduct Authority (FCA) in the UK and the International Financial Services Commission (IFSC) in Belize. Besides, XTB is also authorised and regulated by the monitoring agencies in the countries within the EEA.
XTB offers clients the choice of two account types- Standard and Professional, besides the Islamic and demo accounts. While the key differences in the account types are in the spread and commission, the broker does not specify a minimum account opening deposit.
The leverage you receive would depend on the regulators monitoring the CFD broker. The max leverage for retail clients signing-up with XTB in the UK and Europe is 30:1. However, professional clients from the region and international clients are eligible for max leverage of 500:1. So, to adjust your leverage, you can register as a professional client by meeting the criteria set by the MiFID legislation.
XTB offers the choice of three deposit methods. You can deposit funds via
- Cards- MasterCard, Visa, or Maestro.
- Bank Wire- In USD, GBP, EUR, or HUF.
- E-Wallets- Paysafe/ Skrill or PayPal in USD, GBP, EUR, or HUF.
This CFD broker does not charge for depositing funds into your trading account, but your bank or the payment processor could levy a fee. Besides, depending on your base currency, there could be a conversion fee.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.