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X-Trade Brokers – XTB Review
Min. Deposit: 250 US$
Platforms: MT4, xStation 5
Found in: 2002
- XTB Limited – authorized by FCA (UK) registration no. 522157
- XTB Limited – authorized by KNF (Poland)
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- Is XTB safe or a scam?
- Trading Platform
- spread and overnight fee
- Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
What is XTB?
XTB is a trusted UK and European market leading brokerage providing online trade solutions, through its headquarters in Poland and London (UK). XTB broker was actually the first firm which introduced forex trading in Poland, and now became 4 th listed largest stock exchange company.
XTB withholds global providers of FX and CFDs with offices in 12 countries in Czech Republic, Hungary, Italy, Turkey, Chile, Belize, Poland, Germany, Slovakia, Portugal, Romania, Spain and France, providing dedicated service and support on a 24 hours basis.
The broker performing its operation as a group, which has also won a notable amount of awards for both technology and service. One of the latest recognition
Highest rated FX & CFD Broker of 2020 | voted by Wealth & Finance International Awards
General brokerage and trading service offering includes a wide selection of opportunities, through a range of global markets over 1500, including Forex, Indices, Commodities, Crypto, Equity CFD, ETFs. Another mentioning worth a Crypto trading which includes trade on Bitcoin, Ethereum, Dash, Ripple or Litecoin by CFDs on 24/7 basis, with no requirement to hold wallet, leverage till 1:5 and quite cheap swaps – long 0.08% a day, short 0.04% a day and spread calculated only by 1% from target.
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XTB is their goal to help develop each trading strategy, so that client can become profitable over the long-term. The comprehensive educational program develops skills and knowledge for every step with video tutorials and guides from Trading Academy, online webinars and live market analysis, community of minded traders – XTB’s Trading Club, one-to-one mentoring and development managers.
Is XTB safe or a scam?
XTB being European established brokerage accordingly follows and holds necessary registrations and regulations. The UK registered XTB company is respectively regulated by the biggest supervision authority the Financial Conduct Authority, is also regulated by KNF, and CMB.
Considering a strong reputation and sharpest guidelines of the regulation (read more about why trade with FCA regulated Brokers), XTB bringing confident trade with high protection. And actually, this is the main topic you should stick to while choosing a broker to trade with, means check carefully authorization of the company, as this is the only criteria that delivers a safe trading environment.
At XTB Limited, the safety of funds is paramount, therefore all client funds are held in a segregated account at all times, as well protected by the FSCS up to £50,000 per person in the unlikely event of insolvency.
XTB offering two main platforms that the client is able to choose from, as a mainstay XTB uses xStation5, which been recognized as an efficient choice and gained multiple awards for total trade transparency, real-time commentary, execution speeds and very comprehensive charting package.
xStation 5 voted ‘Best Trading Platform 2020’ by Online Personal Wealth Awards
Forex Magnates 2020 | Best proprietary fx platform
Nevertheless, the platform is fully customizable and very fast, including useful tools like calculators, advanced charts, trader statistics, bulk order closing, traders talk and progressive technical analysis. All settings, watch lists and workspaces are accessible from desktop, smartphone, laptop, tablet and even smartwatch.
XTB platform includes also a useful Market sentiment and displays the current situation of selling or buying trend of each market, as well as Top mover showing which markets gaining or losing. Another addition equity screener that filters stocks and searching for new opportunities.
Second offered by XTB platform is known to all trading world MT4, however, XTB enhanced features by fast, reliable trade execution, multi-asset coverage, No dealing desk execution, no requotes and all supported by Expert Advisors.
XTB provides three types of trading accounts, while generally, XTB operational strategy shows a good value for money. The offering is based on tight spreads from 0.3 pips on market level execution along with bonuses for active trader.
Available accounts divided into Basic Account, Standard and Pro Account. Generally speaking, accounts featuring approximately the same options and benefits from the company, apart of the difference on swap rates and spread level which diverse from 2.0 pips for Basic, 0.35 pips for Standard and 0.28 for Pro accordingly, also in Basic account spreads are fixed and automated trading is not available.
For better understanding check out typical spreads at Standard accounts and also compare XTB fees to another popular broker AvaTrade.
|Asset/ Pair||XTB Spread – Standard Account|
|Crude Oil WTI||4|
For the XTB overnight fee or knowns as a swap rate, the broker charges a differential determined between the two currencies involved in the pair and whether the position is a buy ‘long’ or sell ‘short’. The fee originally varies from the currency to another, as an example, EUR/USD rollover on buying position is -12.037 while selling will let you gain 5.795.
Being a European based broker, the XTB does not offer high leverage ratios recently due to the updates from the EU regulation ESMA. The traders may use a maximum of 1:30 level towards Forex instruments, 1:5 towards Stocks and even lower to some additional assets. Nevertheless, these restrictions are definitely done to protect trading orders and accounts themselves, as the higher leverage ratios may impose a significant risk for any trader towards money loss.
Thus, 1:30 is still a good level to maintain potentially successful trading, yet with lower risks involved.
Deposits and Withdrawals
There are several ways to deposit funds into the trading account, which includes the most popular and secure payment methods.
As for the minimum deposit amount, the XTB set required a deposit to start 250 US$, while active traders and PRO account may require some more balances in order to cover all necessary margins.
For the funding fees, Bank transfers and payment for both withdrawals and deposits by Credit Cards are free of charge and accepting the following currencies EUR, USD, GBP. Yet, other payment methods incur additional charges – 2% of the deposited amount, these are PayPal and Skrill.
To withdraw funds from your account, the client has to proceed with online request and choose where to transfer the money (nominated bank). Another pleasant feature that XTB does not charge an inactivity fee.
XTB Review as a multi-asset broker provides a well-balanced trading experience while regulated in several major financial centers, hence considered a reliable broker. Beyond quality service, the broker’s powerful platform and offerings to the clients earned excellent ratings and regards.
Being a client of XTB you will enjoy the benefits of a long-term relationship that building durable cooperation with active traders as one of the company’s main objectives. As a whole, XTB’s offers more than usual brokers do and that’s for sure worth clients note.
Nevertheless, ew will be happy to know your personal opinion about XTB which you may share in the comment area below.
XTB Review and Rating: Is www.xtb.com scam or good forex broker?
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Minimum trade size
from 0.3 pips + commission $4 per lot (per side)
There are three basic accounts types offered by this broker: Basic, Standard and Pro. The Basic account is suited for beginners, as well as regular traders who prefer fixed spreads, while the Standard and Pro accounts provide variable spreads. The Pro one is tailored to advanced traders, offering raw market spreads through STP execution.
XTB or X-Trade Brokers is a leading forex broker in Central and Eastern Europe, providing online trading in over 1500 instruments, including forex, indices, shares, commodities and ETFs on two trading platforms – its in-house xStation and the ever popular MetaTrader 4.It has offices in more than 15 countries in Europe, South America and Asia.
Behind the XTB brand is XTB Limited, a UK-based, FCA-regulated subsidiary of the XTB Group. Its other subsidiaries are regulated by Poland’s financial supervision commission (KNF).
Security of Funds
XTB Ltd., operating under the trading name XTB, is authorised and regulated by UK Financial Conduct Authority (FCA). As a UK-based brokerage XTB has to adhere to strict requirements and the highest regulatory standards.
For example, in order to acquire a license from the UK financial watchdog, brokers have to provide proof of financial stability: they must hold a minimum of €730 000 in order to conduct their business activities legitimately. Similar minimum capital requirements apply in other jurisdictions, for instance brokers based in Australia are required to possess at least $ 1 million.
Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the umbrella of the Financial Services Compensation Scheme (FSCS), where the maximum compensation cover is £50,000 per person in the event that a broker becomes insolvent.
In case you are interested, you may look up more FCA-regulated brokers.
What is more, in May 2020, XTB went public by debuting on the Warsaw Stock Exchange (WSE:XTB), which adds additional transparency to its business model and finances.
Minimum initial deposit
XTB requires $250 as initial deposit for opening a live account, which is average.
Average Spreads & Commissions
This broker offers both fixed and variable spreads. The fixed ones are available on the Basic account and amount to 2.0 pips on EUR/USD, which is average. As regards the variable spreads, the ones provided on the Pro account are as low as 0.3 pips on EUR/USD, but incur a commission fee of 2.5 GBP / 3,5 EUR / 4 USD / 1400 HUF per lot (per side). No commission is charged on the Basic and Standard accounts.
In comparison, FxPro offers average spread of 1.4 pips on the EUR/USD for its commission-free accounts and average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.
You may look up real-time spreads of 15 leading brokers here.
The maximum leverage provided by XTB depending on the instrument traded:
– forex: leverage up to 1:200;
– indices: leverage up to 1:133;
– commodities: leverage up to 1:66;
– shares & ETFs: leverage up to 1:10.
On the whole, a maximum leverage of 1:200 is deemed average for the market, however some traders may wish to trade more with less.
Other FCA-regulated brokers, like HY Markets, provide leverage up to 1:300, and XM offers leverage levels as high as 1:888. Traders, however, should be careful, because high leverage ratios may not only allow them to trade more with less, but also to lose more than they have initially deposited.
Clients of XTB are offered a choice of two trading platforms: their in-house xStation and the renown MetaTrader 4, both available as desktop, web and mobile versions.
xStation is user-friendly, fully-customizable platform, which is equipped with an advanced trading calculator (instantly determining a trader`s potential profit or loss, thus allowing more informed trading decisions). Traders will probably appreciate even more the other two features of the platform: one-click dealing and the ability to deal straight from the charts.
In addition, XTB offers the most widely-used trading platform MetaTrader 4. It allows users to fully automate their trades by Expert Advisors (EA) and let the program do all the work. This is one of the reasons MT4 to be the preferred platform by most traders What is more, it offers a wide range of technical indicators, extensive back-testing environment and advanced charting package. Here is a list of more forex brokers offering MT4 platform.
Risk Management Options
Since CFDs are leveraged products and carry a high level of risk and losses can exceed traders` deposits, XTB provides guaranteed stop losses available on the Basic account.
The broker said on its website it guarantees that stop losses will be executed at the price requested, free of charge – even in cases of slippage.
Bonuses, Rebates, Promotions
XTB offers a variety of promotions to its clients:
– the Loyalty program that offers traders the opportunity to earn cashback on each completed
up to £2.60 cash back per lot.
– Monthly interest cash – traders can earn up to 1.1% on their cash balance each month, depending on the volume of trades.
– Refer a friend bonus – if a trader refers a friend and the latter opens a real account and trades a total of 10 round lots, both of them are entitled to £40.
Methods of Payment
This broker provides its clients with the following payment methods: bank transfer, credit/debit cards (Mastercard, Maestro, Visa) and e-wallets (Paypal, Skrill, Neteller).
XTB is a safe and dependable broker, offering trading in a wide range of CFDs through both its proprietary xStation and the famous MT4. To sum up the above, here are the Pros and Cons with regard to this brokerage:
Mediocre maximum leverage
Choice of trading platforms, MT4 available
No Islamic accounts
Guaranteed stop loss available
STP environment available
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Is XTB a Scam?
Operating since 2002, XTB is a broker that can certainly be viewed as reliable. When a company survives in an industry as demanding as this one for a decade and a half, you can be absolutely certain that the people running it know what they’re doing. Asking “Is XTB a scam?” seems pretty redundant because of that, but nevertheless, we still analyzed the company’s security system, just to be on the safe side. In the following paragraphs, you will be able to find out everything about how well protected you and your money are when trading with this company, and we got all our information from our own experience. Read on and see how a professional broker will protect you!
Is XTB a Scam? | Fully regulated
As all big brokers, this one is also present in many places with its offices. From their native UK all the way to Turkey, you can find them in more than a dozen different countries. As a consequence of this, the company is regulated by multiple regulatory bodies, a fact that should immediately tell you is XTB a scam or not. The bodies in question are the Financial Conduct Authority from the UK, Poland’s KNF, Germany’s BaFin and CMB in Turkey. Acquiring four different licenses is quite a feat and a very strong indicator that XTB is legit. Not too many other brokers can say they have this many licenses. As you can see, the company is regulated across Europe, even outside the European Union, so there really is no cause for concern. If you need more proof for that statement, however, just keep reading.
Is XTB a Scam? | Technical features
Obviously, we couldn’t end our tests there. There was more work to be done to show is XTB a scam or a reliable broker, so we headed on to check the trading platforms you can use here (more on them in our XTB Review 2020). They worked flawlessly and incredibly smooth and provided an excellent trading experience. After that, we also checked the money transfers and once again were delighted with how easy everything was. Both deposits and withdrawals were always on time and not a single cent was misplaced along the way, plus the money is kept in segregated accounts, of course. The support crew also did a splendid job helping us get around the website and advising us on how to trade, so we have nothing but praise for them, too. In short, everything functions in the best possible manner here.
Is XTB a Scam? | Conclusion
XTB is a company with years of experience in the forex trading industry. They are regulated in multiple countries all over Europe and offer technically perfect features to all their traders. You will never have to worry about your money here, as the company treats every trader’s funds with utmost professionalism and care. The support team is also excellent, so whatever you need explaining they’ll do it in a flash. Is XTB a scam? Don’t be ridiculous! Open an account with them and you will be trading with one of the best brokers in the world!
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