XTB is a global CFD and forex broker that got its start in 2002 as X-Trade and rebranded as X-Trade Brokers two years later. The latest incarnation, XTB Online Trading or XTB, came in 2009. The broker went public on the Warsaw Stock Exchange in 2016 under the same name.
XTB is best known for its web-based trading platform, xStation 5. The system gives traders access to more than 3,000 different markets, such as cryptocurrency, commodities, metals, forex, stocks, and ETFs. The trading platform also comes with MetaTrader 4 for cutting-edge analytics and a mobile app for trading on-the-go.
The FX and CFD broker has made a name for itself in an increasingly competitive online trading landscape. While it's operating costs are on-par with other forex brokers, XTB consistently gives its traders low spreads. XTB offers an ideal starting point for any new account manager, trader, or financial beginner.
In this XTB review, we'll be exploring the exchange's pros, cons, and more to help you decide if it's right for you.
- Products Offered: Forex, Commodities, Indices, Crypto, Stock CFDs, ETF CFDs
- Year Established: 2002
- Number of Instruments: 1,500+
- Maximum Leverage: 1:500
- Minimum Deposit: $0 (free account)
- Demo Account: Yes
- Regulation: FCA, CySEC, IFSC, KNF
- Trading Platforms: xStation 5, xStation Mobile, Meta Trader 4
- Minimum Spread: 0.1
- Minimum Trade: 0.01 Lots
- Withdrawal Fees: $0
- USA Accepted: No
Table of Contents
xStation 5 is XTB's trading platform. The award-winning interface may appear technical at first glance, but once you use it, you'll find it easy-to-use and intuitive. xStation 5 includes more than 4,000 instruments so that you can trade and scalp assets around the world with a click of a button.
After you go through the one-step login, review the various asset categories and product types. Once you find an asset, place a market, limit, stop, or trailing stop order using your available funds. XTB has a trading calculator so that you can determine the best commission and margin in advance.
MetaTrader 4, also known as MT4, is a third-party tool that XTB uses to provide trade data. Clients can take advantage of its built-in analytic tools and automated strategies. The simple design includes technical trading optimisation and a risk-free strategy tester so that users can trade smarter.
MT4 works on any mobile, tablet, or desktop platform. The popular trading system has loyal users worldwide, thanks to its customisable design that lets you tailor the interface to your trading preferences. That includes immediate access to various client funds, retail traders, and order types on XTB.com.
Assets to Trade
Trading, whether on XTB or otherwise, involves a high risk of losing money. You can limit your risk with a diversified portfolio. XTB offers all major assets except for ECN. Here's a breakdown of asset types by quantity on XTB:
- Stock CFDs - 1814
- ETF CFDs - 117
- Forex - 49
- Indices - 42
- Cryptocurrencies - 25
- Commodities - 22
According to the Financial Conduct Authority (FCA), approximately 82% of traders lose money when trading CFDs. XTB sits just under this average. About 79% of retail investor accounts lose money trading on their platform. Many people trading XTB assets have a "beat the market" mindset and fail to manage their risk accordingly. While some clients outperform the market, many more succumb to greed and erroneously trying to pick turning points in currency pairs.
Regulation and Security
XTB UK is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, while the Polish Financial Supervision Authority (KNF) oversees the CFD and forex trading broker in Poland. XTB is regulated in 11 other countries, including Germany, France, and Chile. However, the trading platform doesn't allow trader accounts for residents of the United States.
Currently, XTB is authorized and regulated by the following organizations:
- Cyprus Securities and Exchange Commission regulates XTB Europe, as of 2018 (license number 169/12)
- The Belize International Financial Services Commission regulates XTB International (license number IFSC/60/413/TS/19)
- While the Polish Securities and Exchange Commission authorises X-Trade Brokers DM SA (licensed number DDM-M-4021-57-1/2005), the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) supervises it.
- Comisión Nacional del Mercado de Valores regulates XTB Spain (license number 40)
XTB South Africa is pending license approval
XTB offers three different user account types: Standard, Pro, and Islamic. Basic XTB accounts have access to more than 1,500 financial instruments and leverage around 500:1. A trader can set up an account for free and not pay commissions on indices, commodities, and forex. XTB does charge 0.08% for CFDs and ETF CFDs.
The Pro account is best for traders willing to take the high-risk option when investing. Commissions start at $3.50 EUR (USD 4) per lot and have a minimum trade size of 0.01. Islamic retail investor accounts have $10 commissions and free swaps, but not access to cash stocks or cryptocurrencies.
Each of these accounts comes with negative balance protection for CFD and forex trading. That protection only applies when European retail investor accounts lose money. The broker does not cover professionals from non-European countries.
Make sure to consider whether you understand how CFDs work before investing. CFDs with this provider come with an inherent risk. While you may have negative balance protection, most accounts lose money in the long-term.
Deposits and Withdrawals
You can start trading XTB assets as soon as you deposit funds. Fortunately, the process only takes a few seconds. Click on the 'Deposits' tab, select your trading account, and then review and confirm your payment method. XTB accepts bank transfers, credit cards, and e-wallets.
Start your withdrawal request by selecting your trading account and the desired amount of money. You will not have to pay a fee unless the withdrawal is less than $50. In these cases, the broker will charge you $30.
Withdrawal methods also vary for XTB International users. They can only withdraw funds where they are the account holder. Once they review and submit the request, XTB will process the transaction in one business day.
XTB Trading Spreads and Fees
The XTB spreads vary based on the account type and market. Basic accounts have floating spreads, which can fluctuate on the available liquidity, while Pro accounts pay smaller commissions to obtain market-level spreads. In general, you can expect favorable spreads from XTB.
XTB charges low forex, indices, and stock fees. XTB also does not charge investors on withdrawals over $100. If you compare XTB vs other brokers, stock CFD fees are the one place where it's higher than average.
Leverage involves borrowing funds to increase a trader's position when they don't have enough money on hand. Brokerage platforms, like XTB, let investors capitalize on leverage through margin trading, because the broker provides the funds. Your account's maximum leverage will depend on what regulatory authority your branch of XTB fall under.
In the UK and Europe, brokers can't exceed 30:1. The regulatory bodies offer an exception for professional retail investors accounts, which can access up to 200:1. If you use XTB in other countries, expect leverage upwards of 500:1.
XTB prides itself on helping traders improve their trading skills by offering the best customer service. Whether you want to start a demo account, learn more about CFD fees, or provide feedback, the XTB customer support team is available 24 hours a day, five days a week.
In the UK, they are located at:
One Canada Square
You can call +48 222 739 976 to talk with customer support or check out the live chat on the company's website.
When choosing a provider, you should consider not only their security and legitimacy but also their educational resources. The best brokers take steps to help you avoid losing your money, regardless of your experience level. XTB provides resources to take you from a beginner to an expert in no time, including webinars, videos, and trading courses.
The introductory trading academy answers frequently asked questions. It provides an easy-to-follow review of terms, such as FX trading, CFD trading, market sentiment, and mobile trading. The XTB website even has extensive breakdowns of how to use xStation 5 and MT4, so you can hit the ground running when you trade.
The intermediate lessons cover various assets, such as forex, indices, commodities, and cryptocurrencies, and more details about xStation 5. Expert courses, which XTB says are coming soon, should provide granular analysis of trading tools, the market review process, and trading conditions.
Opening an XTB Account
Ready to open a trading account? XTB lets you create a profile, link your bank account, and deposit funds in less than 24 hours. There are no withdrawal fees or minimum deposit.
The account opening process is just five simple steps:
- Entering your email address and current residency
- Filling out personal information, such as name, address, and date of birth
- Selecting your trading platform, account base currency, and account type
- Answering questions related to your current employment, financial health, and trading experience
- Activating your trading account by verifying your identity and residency
If you live in Europe, you can verify your identity with a video. If you can't do so, XTB allows you to submit a photo or copy of a government-issued ID for review. You can use a utility bill or bank account statement to prove residency.
Call +357 257 25356 or start a live chat to open an account today.
XTB operates in 12 different countries and continues to expand. Its website and trading tools also translate to 17 languages, including English, French, Russian, and Arabic. Places that permit the XTB Group include:
- United Kingdom
- South Africa
- Hong Kong
- United Arab Emirates
- Saudi Arabia
- And many more
XTB's most notable regional omission is the United States, which, due to federal regulations, does not allow CFD and forex brokers like XTB. The US is not the only country, either. Canada, Australia, Japan, India, Kenya, Iran, and Ethiopia also don't allow XTB trading.
- One of the largest stock exchange-listed FX and CFD brokers in the world
- Regulated by several regulatory bodies including FCA, KNF, CySEC, and IFSC
- Two world-class trading platforms to choose from
- Over 1,500 financial instruments available to trade
- No binary options trading offered
- USA traders not accepted
Is XTB Right for You?
XTB is a provider you should consider if you want a low-cost broker. XTB offers clients with favorable spreads and a wide range of investing opportunities. If you can afford to take some risks with your investments, CFDs with this provider serve as potentially attractive and lucrative trading options.
XTB has an extensive track record and hundreds of thousands of clients worldwide to prove it. XTB's regulating bodies, which ensure XTB Limited users up to £85,000 and X-Trade Brokers clients up to €20,100, include:
- Financial Conduct Authority (FCA)
- Cyprus Securities and Exchange Commission
- Komisja Nadzoru Finansowego
- Comisión Nacional del Mercado de Valores
- The International Financial Services Commission
If you're still on the fence, you can always open a demo account. The risk-free trial lets you review the pro account, test the financial instruments, and read user reviews before committing to the minimum deposit and do so without the risk of losing your money.
Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.