XTB Overview
Website: www.xtb.com
Telephone: +44-203-695-3085
Regulation: FCA
Pairs offered: Majors, Minors, Exotic pairs
Minimum Deposit: $250
Spreads From: 2 PIPs
Max Leverage: 200:1
Markets: Forex, commodities, indices, cryptocurrency, ETFs, shares
Deposit Options

XTB Broker Review

XTB trading as XTB International Limited is fully licensed and regulated by the International Financial Services Commission (IFSC) of Belize. The company is owned and operated by the XTB Group which includes Spanish, UK and Polish companies. As one of the premier providers of Forex trading services, XTB is trusted by clients across the UK. This company has been in operation for 14+ years and is one of the ranking Forex brokers. Presently, XTB has offices in France, Germany, Spain, Poland, Belize, and the UK. It is also fully licensed and regulated to offer Forex trading according to multiple supervisory authorities including the CMB, CNMV, and the KNF.

Overview/ background

 

XTB is a multi-award-winning Forex broker. In 2002, X-Trade was incorporated as the first leveraged FX brokerage in Poland. By 2004, X-Trade merged with XTB in Poland. The Polish Financial Supervision Authority (KNF) authorized XTB in 2005. By 2007, the company opened a Forex branch in the Czech Republic and joined the Warsaw Stock Exchange in the same year. Fast-forward to 2008. XTB opened offices in Slovakia, Romania, Germany, and Spain and the company rebranded to become known as XTB Online Trading. By 2010, additional branches were opened in Portugal, Hungary, France, and Italy, with licenses issued for Bulgaria, Sweden, Belgium, Greece, the Netherlands and Austria. UK offices were established in 2010, and the company inked a deal with Mads Mickelson to be the company’s brand ambassador. In 2016, X-Trade Brokers was listed on the Warsaw Stock Exchange.

 

Account Types

 

XTB provides several types of accounts for Forex traders in the UK. These include a Basic Account, a Standard Account, and a Pro Account.

Basic account – instant executions, CFD trading, free account set up, free account management, maximum leverage of 1:200, minimum spread of 2.0, and Forex, commodities, indices, shares and ETFs are available. The basic account also offers stop and limit orders, guaranteed stop loss orders, 30% margin stop out level, and commission on shares trading from as little as 0.08%. The minimum initial deposit is £250 and there is no automated trading on this account.

Standard account – floating spreads are based on market executions, and there are CFDs available for trade with free account set up, free account management and a maximum leverage of 1:200. The minimum spread is 0.35 and all 4 asset categories are available including ETFs. Stop and limit orders are available, and the margin stop out level is 30%. Commission on shares trading begins at 0.08%, and the minimum deposit is £250. Automated trading features are available.

The Pro account – the Pro account is based on market spreads with market execution types. It is a CFD market with free account set up and free account management. Maximum leverage is 1:200 and the minimum spread of 0.28. Forex, indices, commodities, shares, and ETFs are available for trade. There are stop and limit orders available, and the margin stop out level is 30%. Commission for shares trading is 0.08% and the minimum initial deposit is £250

XTBs brochure defines XTB accounts in the following way:

‘… An account that you hold with XTB which enables you to trade either equity CFDs, ETFs, CFDs, CFDs options or other derivatives. All accounts have separate account numbers. Note that depending on the type of offer available on the particular market that XTB is offering its services you will be able to choose one or more of particular accounts offered by XTB on the basis of the agreement. Details of the offer can be found on the XTB website. You should acquaint yourself with the particular accounts available before applying for the account. You are hereby made aware that XTB reserves itself the right at its sole discretion to refrain from signing an agreement with you are opening a particular account for you for any reason.

 

Trading Platform/ software

 

XTB online trading includes MetaTrader 4 and the proprietary xStation5 trading platforms. All trading platforms are available on desktop, tablet, smartphone and smartwatch. In 2016, XTB won the Online Personal Wealth Awards Prize for Best Trading Platform. The trading platforms offer in-depth charting features, rapid execution of trades, intuitive features and various trading resources. The trading platform and software – particularly xStation 5 offers sophisticated trading calculators to determine profit/loss figures based on lot size, stop loss/limit orders etc. Advanced charting facilities, trader stats, trader talk, bulk order closing, and technical analysis are available.

For new traders, there is always the option of risk-free demo trading on xStation 5. This is available for 4 weeks and clients will receive $100,000 in virtual funds to trade stocks, indices, commodities, currencies, and ETFs under real market conditions. The demo trading account requires clients to register by answering their email and agreeing to the terms and conditions. Among the many benefits of the free demo accounts are 1,500+ shares, commodities, Forex, indices and CFD markets, 5 cryptocurrency trading options, tight spreads beginning at 0.2 pips, and leverage as high as 200:1 are available. Customer support is available 24/7 between Sunday and Friday.

 

MetaTrader 4

MetaTrader 4, or MT4 is a powerful trading platform available on desktop, tablet and smartphone. It is a universally popular trading platform for Forex clients, and packs a punch in terms of functionality, resources, and trading execution. With MT4, clients can enjoy a personalised trading set up, replete with add-ons and other innovative features. XTB was one of the early adopters of MetaTrader 4, and it has optimised this trading platform to meet client expectations. Among the many special features available with MT4 are defining entry points and exit points, setting take profit and stop loss, and 1-click dealing systems. The mobile trading app with MT4 is geared towards accessing financial instruments anytime, anywhere. Traders can also test different tactics and strategies under real market conditions across multiple asset types. Another important feature of this trading platform is EAs (expert advisors) plus, there is automated trading functionality, with the MQL4 community of traders

 

Deposit options

 

A wide range of deposit options is currently available at XTB. These include bank transfer, MasterCard, Maestro, Visa, PayPal, and Skrill. GBP withdrawals can be processed on the same day if the transaction request is initiated by 1 PM GMT. Be advised that there are fees and commissions associated with various deposit and withdrawal options. While bank transfers and credit cards are free, e-wallets such as PayPal and Skrill typically take 2% of your deposit amount as a fee/commission.

 

Markets

 

XTB offers a wide range of markets to clients, including an estimated 1,500+ financial instruments. These cover a full range of instruments including 50+ currency pairs, 20+ indices, 1500+ global shares, crude oil, gold, silver, and a variety of exchange traded funds. Examples of popular Forex trading options include major pairs, minor pairs, and exotic currency pairs with leverage of 200:1 or 0.5% margin requirement. There is negative balance protection, no records and market execution available. The Forex instruments include the following: GBP/USD, EUR/USD, USD/PLN, USD/CHF, USD/JPY, AUD/USD, USD/CAD, NZD/USD, EUR/JPY and others. These can be traded on either of the trading platforms – xStation5 or MetaTrader 4.

 

Bonuses

 

XTB is one of a handful of brokers that offers clients rewards. Traders can earn cash back on every trade, and you can enjoy up to £600 in friend referral bonuses and £600 for the referred friend. All rewards/promotional offers are available under the loyalty rewards page at XTB.

 

Customer Support

 

Perhaps the easiest way to get in touch with customer support at this Forex broker is to simply click the live chat button on the bottom right of the screen. Clients are required to enter a name and surname, email address, title of the message, and simply input the question, query or comment. There are multiple other contact options available to clients, including the following:

  • A Land-based Address in the United Kingdom – Level 34 1 Canada Sq., Canary Wharf E145 AA London UK
  • Telephone Numbers – +44-203-695-3085 or 24/5 support at +44-203-695-3086
  • Email – [email protected]

There are an additional 12 offices around the world, including the Czech Republic, Hungary, Turkey, Italy, LAT, international, Deutschland, Poland, Portugal, Slovakia, France, Romania, China, and Spain. Clients can also get in touch with XTB via social media with YouTube, Twitter and Facebook.

 

Safety

 

XTB Limited places importance on safety and security. As such, this FCA regulated broker has specific rules vis-à-vis client money protection. Client funds are maintained in segregated accounts and are protected by the Financial Services Compensation Scheme up to £50,000 per client. In the event of insolvency, XTB clients are guaranteed of a payout. There are many other safety features in place such as identity verification checks, alignment with the security protocols of other regulatory agencies such as the Polish Financial Supervision Authority (KNF). Firewall protection and advanced secure socket layer encryption technology guarantees the integrity of trader accounts at all times.

 

Ease of Use

 

XTB does a fine job of providing an easy-to-use trading platform for clients. The three horizontal lines in the top right of the screen provide instant access to a wealth of features. These include trading services, market analysis, educational elements, deposits, customer support and so forth. It is easy to set up a demo trading account, or to trade for real money at XTB.

 

Final Thoughts

 

XTB a highly regarded Forex brokerage. It features dozens of major, minor and exotic currency pairs, with competitive spreads, generous leverage, and promotional offers.

Pros
  • xStation5 and MT4
  • Fully Licensed in Multiple Jurisdictions
  • 1:200 Leverage
  • Highly Responsive Customer Support
  • Segregated Accounts
  • Demo Trading Platform
Cons
  • High Minimum Deposit of £250
  • External Searches May Be Required for Platform Features
  • Registration Needed to Use the Demo Trading Account
XTB Overview
Website: www.xtb.com
Telephone: +44-203-695-3085
Regulation: FCA
Pairs offered: Majors, Minors, Exotic pairs
Minimum Deposit: $250
Spreads From: 2 PIPs
Max Leverage: 200:1
Markets: Forex, commodities, indices, cryptocurrency, ETFs, shares
Deposit Options
Pros
  • xStation5 and MT4
  • Fully Licensed in Multiple Jurisdictions
  • 1:200 Leverage
  • Highly Responsive Customer Support
  • Segregated Accounts
  • Demo Trading Platform
Cons
  • High Minimum Deposit of £250
  • External Searches May Be Required for Platform Features
  • Registration Needed to Use the Demo Trading Account