XTB
XTB, short for X-Trade Brokers, is a full service online brokerage that deals in FX and CFDs. Originally founded as X-Trade in Poland in 2002, the brokerage became XTB in 2004. It has since then become one of the largest stock exchange-listed FX & CFD brokers in the world. The brokerage has expanded opening offices in more than 10 countries to include Belize, UK, Poland, Germany, Spain and France to names a few, and is now headquartered in London. XTB is regulated by multiple supervision authorities including the International Financial Services Commission (IFSC), Financial Conduct Authority (FCA), Polish Financial Supervision Authority (KNF), and Cyprus Securities and Exchange Commission (CySec).
XTB is also a member of the Investors Compensation Scheme (ICS). ICS provides insurance to XTB’s clients in case the brokerage becomes insolvent. UK and European clients are entitled to £50,000 and 20000 in benefits receptively courtesy of the Financial Services Compensation Scheme(FSCS) and Investor Compensation Fund.
Markets Offered
XTB offers a wide array of tradable instruments totaling over 1500. Markets include Forex, Indices, Commodities, Stock CFD’s, ETF CFD’s and cryptocurrencies. Below is a list of instruments available for trading at XTB.
Tradable Instruments
| Asset class | Number of instruments | Spreads from | Margins from | Leverage Upto |
|---|---|---|---|---|
| Forex | 50+ | .28 pips | 3.33% | 200:1 |
| Indices | 20+ | .39 pts | 5% | 200:1 |
| Commodities | 20+ | .009 pts | 5% | 200:1 |
| Stock CFDs | 1500+ | .08% Commission | 20% | 100:1 |
| ETF CFDs | 95+ | .08% Commission | 20% | 5:1 |
| Cryptocurrencies | 5 | 1% mkt. price | 50% | 2:1 |
Account Types
XTB offers two types of accounts, a standard and pro account. The difference between the two is the lot sizes available to trade and the spreads. Below is a list of details and features for the two types of accounts.
| Account type | Standard | Pro |
|---|---|---|
| Scalping | Yes | Yes |
| Hedging | Yes | Yes |
| Demo account | Yes | Yes |
| Micro account | Yes | Yes |
| Standard account | Yes | No |
| Zero spread account | No | No |
| VIP account | No | Yes |
| Managed account | No | No |
| Islamic account | Yes | Yes |
| Min trade | 0.01 lot | 0.1 |
| Max trade | 100 lots | 100 lots |
| Min deposit | $250 | $250 |
| Neg. Balance Protection | Yes | Yes |
| Automated Trading | Yes | Yes |
| Account Setup | Free | Free |
| Trading Platforms | xStation & MT4 | xStation & MT4 |
| Forex, Indices, Commodities | No Commission | Commission from $4 per lot |
| Stock CFDs and ETF CFDs | Commission from 0.08% per lot | Commission from 0.08% per lot |
| Cryptocurrencies | No Commission | Commission from $4 per lot |
XTB charges its client for holding trades beyond the close of a trading day into the next day. These costs vary depending on the instrument and the type of position (i.e. long or short) being held overnight, and in some cases may result in a credit instead of a charge. There are no inactivity fees, and account withdrawals above $100 are free. All retail Client Money is held in segregated client bank accounts, and Islamic accounts are available. For UK citizens there is a required minimum account balance of $250/€250/£250.
Funding an XTB account can be accomplished via bank transfer, e-wallets, or credit card including MasterCard, Visa, PayPal, Paysafecard, Maestro, Neteller, and Skrill. Cards and bank transfer payments are free of charge. E-Wallets like Paypal and Skrill charge a transaction charge of 2% of the deposited amount. XTB processes deposits instantly for e-wallets and card payments, and same day processing for withdrawals for requests made before 1 pm UK time. Bank transfer transactions take up to 3 business days.
Opening an account with XTB is usually completed within 1 to 2-business days. Documents required are a valid ID (i.e. passport, driver’s license, or national ID), and proof of address (i.e. bank statement, utility bill, or tax invoice dated within the last three months and issued to your name and address).
XTB does not accept clients from the following countries: USA, Canada, India, Pakistan, Singapore, Japan, South-Korea, North-Korea, Bosnia and Herzegovina, Afghanistan, Libya, Iran, Iraq, Syria
Web & Desktop Trading Platforms
XTB offers its clients two trading platforms, the popular MetaTrader4 (MT4) and XTB’s proprietary trading platform xStation5. MT4 is a very widely used platform by the forex trading community. It has features and trading tools that accommodate every level of traders from a beginner that is learning the basics, to advanced traders that programs, backtests, and implements sophisticated algorithmic trading systems. MT4 includes 80+ indicators, nine timeframes, 3 chart layouts, mobile trading, and 37 language options. It also allows for the use of expert advisors for automated strategies, and its MQL4 programming language allow advanced traders to program their own custom strategies.
The award-winning xStation5 has an embedded equity screener and calculator, advanced technical analysis tools. The simple layout allows trader quickly screen and compare charts and statistics.
xStation5 Screen Shot
xStation5 also has a newsfeed on the top section, a calendar, a market analysis section, and free education videos arranged from beginner to expert, all embedded directly into the platform. It also provides 16 different language options, account management tools, price alerts, and allows for bulk order closing. The platform is available as a desktop-client and/or a web version. A mobile trading application is available. Below is a table that summarizes the important trading features included in the platforms.
| Platform Feature | MT4 | xStation5 |
|---|---|---|
| Stop loss Orders | Yes | Yes |
| Limit orders | Yes | Yes |
| One-click trading | Yes | Yes |
| Trailing stops | Yes | Yes |
| Expert advisors (EAs) | Yes | No |
| Virtual private server | No | No |
| Direct market access | Yes | Yes |
| STP broker | Yes | Yes |
| ECN broker | No | No |
| Market maker | Yes | Yes |
| Price alerts | Yes | Yes |
| Signal trading | Yes | No |
| Watchlists | Yes | Yes |
| Charting tools | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Windows App | Yes | Yes |
Education
XTB has an expansive educational section on its website that the public can access, with an exclusive expanded section for registered clients. XTB’s education materials include tutorials (articles and videos), webinars, a glossary as well as a news feed.
XTB’s Knowledge Base contains articles discussing important concepts in financial markets from which you can learn about strategies for investing in certain financial products or commodities. There is also a glossary designed for novice investors.
If you prefer to learn about investment through videos, you can head over to XTB’s YouTube account instead, which is updated fairly regularly. You will find tutorial videos on how to operate XTB’s trading platform, xStation 5. There are also videos containing analyses of major indexes in the stock market and projections about the financial situation.
XTB also offers webinars for registered users. These webinars can be accessed through xStation 5, which allows you to talk with the company’s account managers and market analysts via chat to gain insights into the market. The experts will answer your questions on the spot.
As an XTB user, you can also participate in its WhatsApp group to receive the latest information on the financial market. This group is moderated by XTB’s market analysts, who can provide various trading insights.
In addition to webinars and a WhatsApp group, registered users can also access special eBooks and video guides about investment. These materials are designed for beginner, intermediate and advanced investors.
Then there’s the Market News page — a daily news feed with a current economic and financial calendar. This section is updated daily with the latest global financial market development. The page contains news about trends in the U.S. stock market, monetary policies implemented by central banks, cryptocurrencies and earnings reports. Information and news related to specific companies are equipped with options to buy or sell their corresponding stock.
Customer Service
XBT provides different levels of customer service according to the volume traded and the amount of trading capital deposited by traders. Higher levels gain access to email/push alerts, premium educational and market research materials, and invitation to trading clubs/events. The highest levels grant access to market analyst, and one-to-one coaching sessions. All levels have access to a 24/7 customer support desk, live chat, and phone support. The customer support online is available in several international languages including English, Spanish, Arabic, French, Italian, Portuguese, Russian, Chinese, German, Polish, Czech, Slovak.
For further information on the:-
Safety
Is XTB safe?
The broker provides information on several safety measures that it has undertaken to protect customers.
XTB’s website listed several regions in which the broker is licensed to operate. XTB is authorized by the International Financial Services Commission in Belize, the Financial Conduct Authority in the United Kingdom, the National Securities Market Commission in Spain, the National Securities Market Commission in Germany, the Comissão do Mercado de Valores Mobiliários in Portugal and several other authorities.
As a licensed broker, XTB needs to adhere to regulations implemented by the regions where it operates. The broker’s website emphasizes internal security against money laundering and terrorist financing, which most global regulators have agreed with. XTB implements strict policies to prevent illicit transactions, offering exceptional solvency in the trading sector.
Additionally, each XTB region may implement specific regulations that only apply to its residents. You are encouraged to check the website of financial authorities licensing XTB in your region to see what kinds of services they offer consumers.
XTB partners with Lloyd’s, a London-based insurance company, to protect customers’ funds in case of bankruptcy. You are eligible for insurance protection if you maintain at least $20,000 in your XTB account. The maximum coverage value is $1 million.
The broker also conducts an annual audit by prestigious global auditors, including E&Y and PWC. According to XTB, it changes the external auditing company every two years to ensure greater transparency. The company’s audit results are publicly available and can be accessed via this link.
XTB is committed to protecting your data privacy by using advanced technological instruments. When registering at XTB, you will be asked to provide personal information like full name, address, employment details and necessary financial data.
The broker’s privacy policy ensures that your data will only be accessed by XTB’s affiliates, employees and related companies to process your orders. On its Knowledge Base page, XTB also details methods to avoid scams, especially from parties claiming to be working for the company.
FAQ
What is a Standard account?
The Standard account is an account type offered to XTB customers. You do not need to pay any commission on Standard (except Equity CFDs and ETFs). However, you will trade on a wider market spread, and most of the trade costs are within the spread. Depending on where you reside, the Standard account may have distinctive features.
How can I deposit funds into my XTB account?
XTB enables customers to make deposits through bank transfers, e-Wallets (Paysafe, SafetyPay and Neteller) and credit cards (Visa, Maestro and Mastercard). XTB does not charge you for deposits made using bank transfers and credit cards, but certain banks may charge transfer fees. Meanwhile, e-Wallet availability also varies depending on the country.
Can I reactivate my XTB account after closing it?
You need to email XTB customer support to ask for account reactivation. UK residents can send the request to ukservice@xtb.co.uk, while non-UK/EU residents can send it to cs_int@xtb.com. Customer support may direct you to fill out an online application form to get your account back.
What kinds of order execution modes are offered by XTB?
XTB offers two types of order execution — market execution and instant execution.
In market execution, orders are executed at the current pricing, so you will probably not buy/sell according to the displayed price. Instead, XTB will decide on the best price at a given moment and execute the order without additional confirmation from the customer.
Meanwhile, in instant execution, the order will be executed according to the price displayed on the trading platform when you place it. The price discrepancy between the displayed price and the price when you open/close a position must be within the range of the “deviation” parameter for the order to be executed.
How long does it take to withdraw money from my XTB account?
Typically, XTB needs one working day to process your withdrawal. However, XTB cannot guarantee when the money will be delivered to your account because it depends on your bank.
Pros
- FCA Regulated. Quick account opening process with easy funding methods
- Extensive education section combined with user videos
- Offers MT4 and proprietary X-Station with options for Expert Advisor
Cons
- Focused around CFD and Forex
- Maximum leverage is not the highest available
Fixed spreads
Variable spreads
Stop losses
Limit orders
One-click trading
Trailing stops
Expert advisors (EAs)
Virtual private server
Direct market access
STP broker
ECN broker
Market maker
Price alerts
Signal trading
Watchlists
Charting tools
iOS App
Android App
Windows App
Major Stock markets (US UK Germany)
Indices
Penny stocks
Forex
Majors
ETF
CFDs
Bitcoin
Commodities
ETFs
IPO
Options
Futures
Bonds
Hong Kong stocks
Japanese stocks
Listed on Stock Exchange
Scalping
Hedging
Demo account
Islamic account
Micro account
Standard account
VIP account
Zero spread account
Managed account
Credit cards
Bank transfer
PayPal
Neteller
Skrill
Electronic wallets