XTB is a globally recognized online trading broker that provides access to a wide range of financial instruments, including forex, commodities, indices, cryptocurrencies, and shares. To get useful insights into the platform’s services, we bring a detailed XTB Review 2023, which includes an overview of the brokerage’s services and features.
One of the primary strengths of XTB broker is its user-friendly and sophisticated trading platform, which is available as a web-based platform and mobile app. The platform’s versatility makes it an attractive option for traders with diverse interests.
This XTB review 2023 will take a closer look at the broker’s services, features, and benefits, providing traders with an in-depth understanding of what they can expect when trading with this broker.
What Is XTB?
XTB is a Forex & CFD brokerage platform that provides traders with access to a wide range of financial markets and instruments. The broker was founded in 2002 and is headquartered in Warsaw, Poland. The broker operates in over 10 countries, including the UK, Poland, Spain, and Germany.
The platform is part of the X-Trade Brokers Dom Maklerski S.A. (XTB Group), a global financial company that offers a variety of financial services to its clients. The Group was established in 2002 and is one of the largest stock exchange-listed FX & CFD brokers in the world.
The broker also offers a unique trading feature called “xStation 5,” which is a proprietary trading platform that allows traders to customize their trading interface to suit their individual needs.
The platform also provides a range of advanced trading tools, including real-time market analysis, sentiment indicators, and advanced charting tools, making it a popular choice among traders.
Is XTB Scam Or Legit?
XTB is a legit and regulated broker that operates in compliance with the laws and regulations set forth by top-tier financial authorities, including the FCA in the UK, KNF in Poland, and CySEC in Cyprus.
These regulatory bodies oversee the broker’s operations and ensure that the broker maintains high standards of transparency, fairness, and security. Overall, considering the scam report from XTB Review 2023, we term it a legit broker; henceforth, there is no point indicating XTB scam.
What Is The Safety Of XTB?
XTB is a safe and secure trading broker that takes the security of its client’s funds and personal information very seriously. Here are some of the safety measures that the broker has in place:
- Regulated by top-tier financial authorities, including the FCA, KNF, and CySEC
- Segregation of clients’ funds in segregated accounts
- Use of advanced security measures, such as encryption technology and two-factor authentication
- Strict risk management practices, including negative balance protection
- Long-standing reputation in the industry and numerous awards for trading services
- Availability of customer support 24/5 to assist with any queries or concerns.
What Do XTB Offers To Trade?
The broker offers a wide range of trading instruments across various asset classes, which primarily include:
- Forex: Over 48 currency pairs, including majors, minors, and exotic pairs available.
- Stocks: Traders can access stocks from major global exchanges, including the NYSE, NASDAQ, and LSE. It offers more than 1,500 stock CFDs.
- Indices: The platform offers over 25 indices from around the world, including the UK 100, Germany 30, and US 500.
- Commodities: Traders can trade popular commodities such as gold, silver, crude oil, and natural gas.
- Cryptocurrencies: XTB crypto trading offer 30+ coins, including Bitcoin, Ethereum, Litecoin, and Ripple.
- ETFs: Traders can invest in Exchange Traded Funds (ETFs) that represent a basket of stocks or other assets.
- Options: The platform offers options for trading for stocks, forex, and indices.
What Are XTB Fees?
The broker charges zero forex commissions on the standard account, except for equity trades. However, the pro account is subject to the commission on trades. Instead of charging commissions, it charges spreads. While the costs are variable, the spreads are relatively low compared to the market average, as per our XTB Review 2023.
For stock index and ETF trades, fees are volume-based, with a low commission of 0.08% and a minimum fee of $8 for most markets. The Broker also charges a 30% withholding tax for dividends from US corporations, regardless of tax location, and currency conversion charges for trading assets in a different currency than the base currency.
At the same time, it does not charge any account management fees, except for a €10 monthly charge for an inactive account. Inactivity is defined as one year of no trading and no deposit made in the last 90 days.
What Platforms Does XTB Offer?
The broker offers a proprietary trading platform – “xStation”, for mobile as well as desktop trading. However, our findings from XTB review 2023 indicate the broker falls short in offering more advanced MT4 and MT5 trading platforms.
Also, the XTB app seems pretty hefty and unmanageable. The tabs are stacked one after the other without any proper structure or system. Here are the detailed specifications of each trading platform offered:
XTB xStation 5
- Proprietary platform
- Advanced charting with over 20 indicators and drawing tools
- Customizable workspaces and layouts
- One-click trading and market orders
- Built-in news and economic calendar
- Risk management tools such as stop loss, take profit, and trailing stop
- Advanced trading calculator and sentiment tools
- Multiple execution modes: instant, market, limit, and stop orders
- Available in desktop, web, and mobile versions
- Offers 4 different types of order execution: Market Execution, Instant Execution, Request Execution, and Exchange Execution
xStation Mobile
- Mobile trading app for iOS and Android devices
- User-friendly interface with easy-to-use features
- Advanced charting with over 20 indicators and drawing tools
- Real-time price quotes and live charts
- One-click trading and market orders
- Built-in news and economic calendar
- Risk management tools such as stop loss, take profit and trailing stop
- Advanced trading calculator and sentiment tools
- Available in multiple languages
- A secure and safe trading environment with SSL encryption and two-factor authentication
- Offers 4 different types of order execution: Market Execution, Instant Execution, Request Execution, and Exchange Execution
XTB Review: Pros & Cons
| Pros | Cons |
|---|---|
| Low spreads | Limited cryptocurrency offerings |
| No forex commissions on a standard account | No social trading platform |
| Access to a wide range of markets and instruments | Limited availability in certain regions |
| Multiple trading platforms are available | Withdrawal fees for certain methods |
| Strong regulatory framework and investor protection | |
| Excellent customer support and service | |
| Advanced trading tools and features | |
| Demo account available for testing |
What Are The Different Types Of Accounts On XTB?
The broker primarily offers three different types of online trading accounts, each with its own specifications. Alongside these, there is also a free demo account option for new users. Through our detailed XTB Review 2023, we have listed the main specifications of each trading account:
Standard Account
- No commission fees on forex trades
- Low variable spreads
- Minimum deposit of $250
- Leverage up to 1:200
- Hedging and scalping allowed
- Access to xStation 5 and Trad Station platforms
- 48 forex pairs, 26 indices, 18 commodities, 1500+ stock CFDs, and 25 ETFs available
- Negative balance protection
Pro Account
- Commission fees on forex trades (starts at $3.5 per lot)
- Raw spreads with no markups
- Minimum deposit of $1,000
- Leverage up to 1:200
- Hedging and scalping allowed
- Access to xStation 5 and x Station app platforms
- 48 forex pairs, 26 indices, 18 commodities, 1500+ stock CFDs, and 25 ETFs available
- Negative balance protection
- VPS hosting and advanced trading tools are available
Swap-Free Islamic Account
- No swap or rollover fees
- Low variable spreads
- Minimum deposit of $250
- Leverage up to 1:200
- Hedging and scalping allowed
- Access to xStation 5 and xStation mobile app platforms
- 48 forex pairs, 26 indices, 18 commodities, 1500+ stock CFDs, and 25 ETFs available
- Negative balance protection
- Account complies with Sharia law principles
XTB Sign-Up Process: How To Open XTB Online Trading Account?
Here’s a step-by-step guide on how to open an XTB trading account:
- Go to the broker website – www.xtb.com and click on the “Open Account” button in the top right corner of the homepage.
- Select the type of account you want to open (Standard, Pro, or Islamic) and click “Next.”
- Fill in your personal information, including your name, email, phone number, and country of residence.
- Choose your preferred trading platform (xStation 5) and set your account leverage.
- Fill in your financial information, including your income, net worth, and trading experience.
- Upload your identity verification documents, such as a government-issued ID and proof of address (e.g. a utility bill or bank statement).
- Review and agree to the broker’s terms and conditions, risk disclosure, and privacy policy.
- Confirm your account details and submit your application for review.
- Once your application is approved, fund your account using one of the XTB deposit methods (e.g. bank transfer, credit card, or e-wallet).
- Download and set up the trading platform of your choice and start trading!
How Do I Deposit and Withdraw From XTB?
XTB offers several convenient methods for depositing and withdrawing funds from your trading account. Here are the steps to deposit and withdraw:
Deposit Funds
- Log in to your XTB online trading account.
- Click on the “Deposit” button located in the top right corner of the platform.
- Choose your preferred payment method from the list of available options (e.g. bank transfer, credit card, e-wallet).
- Fill in the required information, such as the deposit amount, currency, and payment details.
- Confirm the transaction and wait for the funds to be credited to your account (this usually takes a few minutes to a few business days, depending on the payment method).
Withdraw Funds
- Log in to your trading account.
- Click on the “Withdraw” button located in the top right corner of the platform.
- Choose your preferred withdrawal method from the list of available options (e.g. bank transfer, credit card, e-wallet).
- Fill in the required information, such as the withdrawal amount, currency, and payment details.
- Confirm the transaction and wait for the funds to be processed (this usually takes a few business days, depending on the payment method).
XTB Deposit & Withdrawal Conditions
The broker has specific conditions for deposits and withdrawals, which are outlined in our detailed XTB Review 2023:
Deposit Conditions
- Minimum deposit amount: $250 for Standard and Islamic accounts, $1000 for Pro accounts.
- Accepted currencies: USD, EUR, GBP, CHF, HUF, PLN, CZK.
- Payment methods: bank transfer, credit/debit card, e-wallets (such as PayPal, Skrill, and Neteller), and more, depending on your country of residence.
- Deposits are typically processed within 1-2 business days but may take longer depending on the payment method used and your bank’s processing times.
- XTB does not charge any fees for deposits, but third-party fees (such as bank transfer fees or credit card processing fees) may apply depending on the payment method used.
Withdrawal Conditions
- Minimum withdrawal amount: $30 for bank transfer, $10 for other methods.
- Accepted currencies: same as for deposits.
- Withdrawals must be made using the same payment method used for the deposit (up to the amount of the deposit), and any additional funds can be withdrawn using any available method.
- The platform typically processes withdrawals within 1-2 business days, but additional time may be required depending on the payment method and your bank’s processing times.
- It does not charge any fees for withdrawals, but third-party fees (such as bank transfer fees or e-wallet processing fees) may apply depending on the payment method used.
What Is The Leverage On XTB?
The maximum leverage available on XTB varies depending on the instrument and the account type. Here are the maximum leverage levels for each asset class and account type:
Forex
- Standard Account: up to 1:30
- Pro Account: up to 1:200
Indices
- Standard Account: up to 1:20
- Pro Account: up to 1:100
Commodities
- Standard Account: up to 1:10
- Pro Account: up to 1:50
Stocks
- Standard Account: up to 1:5
- Pro Account: up to 1:20
Cryptocurrencies
- Standard Account: up to 1:2
- Pro Account: up to 1:5
XTB Education & Research Resources
Based on our findings from XTB Review 2023, the broker’s resources are designed to provide traders of all skill levels with the tools and knowledge they need to make informed trading decisions.
XTB education and research offerings are comprehensive and cover a wide range of topics, from technical analysis to market news and trading strategies.
Here’s a list of education and research resources offered:
- Webinars
- Trading Academy
- Trading Guides
- Market Analysis
- Economic Calendar
- Trading Signals
- XTB Community
XTB Customer Support Services Reviewed
The broker offers customer support services 24 hours a day, 5 days a week, via phone, email, and live chat. They also have a comprehensive FAQ section on their website that covers many common questions and issues.
In terms of responsiveness, XTB’s customer support team is generally known to be prompt and helpful. However, there may be times when wait times for live chat or phone support can be longer than usual during periods of high trading activity.
If you’re experiencing unresponsiveness from the customer support team, you can try the alternative ways:
- Phone: +357 25725352
Conclusion
Based on our detailed XTB Review 2023, the broker seems to offer a competitive and reliable trading environment. They have a strong regulatory framework in place and provide traders with access to a range of trading instruments and tools.
The commission-free trading on most instruments and low spreads also make XTB an attractive option for traders looking to keep their trading costs down. However, the broker falls short in offering quality resources and traders-centric trading conditions.
Overall, considering this in-depth analysis review, we don’t recommend trading with XTB. Instead, choose a more reliable and complete trading partner like InvestFW.
FAQs
Is XTB Available In India?
Yes, the broker is available in India and accepts Indian traders.
Is XTB Real or Fake?
XTB is a real and regulated broker authorized by reputable financial regulators such as the FCA and CySEC.
Is XTB A Good Broker?
XTB is a reputable broker with competitive trading conditions, a variety of trading platforms and tools, and a range of educational resources. However, as with any broker, it may not be suitable for all traders depending on their individual trading needs and preferences.
How Much Is XTB Withdrawal Fee?
The withdrawal fee on the broker depends on the payment method used, with bank transfers costing $5 and credit/debit cards costing 2% of the withdrawal amount.
Is XTB A Reliable Broker?
XTB is a reliable broker regulated by reputable financial authorities and with a track record of over 18 years in the industry.
What Type Of Broker Is XTB?
It is a multi-asset online broker offering to trade in a range of financial instruments, including forex, indices, commodities, cryptocurrencies, and more.
What Is The Minimum Deposit for XTB?
The XTB minimum deposit varies depending on the account type chosen, with the standard account requiring a minimum deposit of $250 and the Pro account requiring a minimum deposit of $1,000.
Is XTB Commission Free?
The broker does not charge commissions on forex trades on the standard account, but there may be commissions on other assets or on the Pro account. Instead, fees are built into the spreads.
What Is The XTB Login Process?
To access your trading account, you can log in via the broker’s website or through the xStation trading platforms using your registered email and password.
What Is The Minimum Withdrawal on XTB?
The minimum withdrawal is $10, or the equivalent in other currencies.
Who Is The Founder of XTB?
The platform was founded by Jakub Zablocki and had been operating since 2002.
Can I Invest On XTB?
Yes, you can invest on XTB in a variety of financial instruments, including forex, indices, commodities, cryptocurrencies, and more.
Where Is XTB Located?
The platform has its headquarters in Warsaw, Poland, but also has offices in various countries around the world, including the UK, Spain, and Belize.
What Is Your XTB Broker Review?
Our XTB broker review 2023 provides a detailed and unbiased analysis of the broker’s trading conditions, fees, trading platforms, and other aspects of their service.
Does XTB Charge Monthly Fee?
The broker does not charge a monthly account management fee, but there may be charges for inactivity or other non-trading-related fees.
Does XTB Cost?
The broker does not charge any deposit or withdrawal fees, but it does have some trading fees, such as spreads, commissions, and overnight financing charges.
How To Open XTB Demo Account?
To open a demo account, you can follow these steps:
- Go to the website and click on the “Open Account” button located in the top right corner of the homepage.
- Fill in your personal information, such as name, email address, and phone number.
- Select “Demo Account” as the account type you wish to open.
- Choose the platform you want to use for your demo accounts, such as xStation 5 or MT4.
- Complete the registration process by creating a password and accepting the terms and conditions.
- You will then receive an email with instructions on how to access your demo account.
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