XTB is one of the largest FX and CFD brokers in the world. The firm’s offices are spread across 13 countries, while it also provides access to various global markets.
The company has more than 15 years of experience in Forex, commodities, stock, and many other offerings. XTB deals with more than 1500 instruments across different trading platforms. Over the years, the experience and premium brand image of XTB has successfully gained the trust of millions of people.
XTB was founded in 2004 and is now a publicly owned company listed with the Warsaw Stock Exchange. It has offices in all the leading countries across Europe, including the UK, France, Germany, Chile, Poland, etc.
The company has more than 140000 customers around the world. Moreover, XTB takes pride in being supervised by world-renowned supervision authorities like KNF, FCA, IFSC, and CySEC.
Previously, XTB has been awarded as the “Best Broker in Europe” by Money Markets Journals. It also won the “CFD Broker Of The Year” by Brokerchooser and #1 spot for FX accuracy at Bloomberg EMEA.
The company offers hundreds of instruments for trading. These can be grouped into six major categories.
There is no requirement of minimum deposit to deal in Foreign Exchange. XTB provides over 48 currency pairs, including both the common ones and some atypical pairs. Some of these are USD/EUR, USD/AUD, USD/JPY, and many more. Moreover, a Micro lot trading service is also available in Forex.
XTB deals with more than 20 indices across the globe. This includes all the main indices of the US, Germany, and China. There is also a trading app available for each device. The company does not have overnight charges for holding open positions for the next day.
XTB deals with more than 22 commodities, including the major ones like Gold, Silver, and Oil. Other commodities include aluminum, coffee, copper, natural gas, etc. You can access commodities via laptops, smartphones, or tablets.
• Stock CFDs
XTB offers CFDs (contracts for differences) trading for over 1700 shares. You can find shares of some prominent companies from the United States, the United Kingdom, France, Spain, Poland, and many more countries around the world. The trading commission starts at 0.08%. You can perform both functions, i.e., go long or short.
• ETF CFDs
You can also make long-term investments using the ETF (Exchange Trade Funds) instruments. With more than 100 instruments, you will find funds, trusts, and bonds. XTB provides ultra-fast execution and negative balance protection.
XTB deals in various cryptocurrencies like Bitcoin, Litecoin, Dash, Ethereum, Ripple Stellar, and many more. You can gain access to the markets via the mobile app too. The market is open 24/7, and there are trading opportunities over the weekend. You will also receive full protection from hacker’s attacks.
XTB provides two world-famous platforms to trade on. These are xStation:5 and MT 4
xStation: 5 is an award-winning platform that provides a smooth and premium experience to the traders. It has won the “Best Trading Platform 2016” in Online Personal Wealth Awards. The simple and intuitive design of the platform, along with high execution speed, makes it desirable over other platforms.
Certain features that make it stand out are the live performance statistics, real-time market commentary, comprehensive charting package, and trade transparency. Moreover, you can determine all aspects of your trade with the trading calculator.
Other features include sentiment heatmaps, video tutorial sections, and stock screeners. The software can be used on desktops, smartphones, tablets, or smartwatches. The web version is compatible with Mozilla Firefox, Google Chrome, Safari, and Opera. The mobile app is available for both Android and iOS. The innovative range of tools helps to enhance your trading experience.
MT4 is a widely used trading platform, known for its simplicity and ease of use. The platform offers a wide range of inbuilt analytical tools. It enables you to make automatic strategies, add indicators, or oscillators.
The special features of MT4 include strategy tester, expert advisor, and optimization of your technical trading. The platform can be accessed through desktops, tablets, or smartphones. Simple and effective tools have made MT4 one of the most widely used trading platforms.
XTB offers four types of accounts to its clients based on the level of operation and professionalism. These are Basic, Standard, Pro, and Professional accounts. To create a professional account, you need to meet a certain criterion.
These accounts differ on criteria like spread, execution, leverage, and minimum speed.
Creating an account with XTB takes several minutes. The process is simple and easy to understand. Here are the steps for creating an account:
1. Credentials: The initial step is to fill basic information on the site by clicking on the green “Create Account” button on the website. The form includes information on email id, country, name, phone number, and national insurance number.
2. Select relevant options: The next step is to choose amongst the choices for creating a trading account. This includes account type (Standard vs. Pro), Trading Platform (MT4 vs. XStation 5), Currency, and Language.
3. Know your customer: This section asks questions to ensure your financial status to pursue trading. This allows the company to know about the traders and their financial position. The questions are based on:
• Annual Income
• Source of Income
• Net worth
• Expected Annual Investment
• Account Funding
4. Verification: The last and final stage for account creation is the verification of details. Traders need to upload documents to support their identity. These documents can be a driver’s license, passport, or identity card.
On the completion of account details, you can further go ahead and make a deposit to get started.
• Commission and Account Funding
XTB has multiple plans for traders. If you are using a Basic or Standard account, there is no additional commission on trading, except for equity trades. In all other transactions, the spread charge is inclusive of the cost of trading.
In the cases of trading via Pro account, the commission rate varies, depending on your base currency.
While dealing in GBP or EUR for funding your account, there will be no additional fee in both debit or credit card payments. However, there may be a small charge while funding through other currencies, Paypal, Neteller, Paysafe, or any such e-wallet. The charges start from 2% of the deposited amount.
Spread refers to the difference in the buy price and sell price. The spread cost is measured in pip. You can visit the website to know about the spread costs relating to the various trades.
Swap refers to the overnight charge of holding position to the next day. The swap charge varies between different markets, and also holding the position of the trade. A complete list of swap rates is available on the XTB website.
Along with the trading services, XTB offers a range of services that makes it unique and differentiable. These services are:
• Customer Support
XTB has a strong customer support service that guides the traders through their queries and problems on the platform. The support is available 24/7 to cater to clients across various time zones.
• Market Analysis
XTB has an entire section committed to providing market analysis through different modes. The company efficiently delivers market news. The news provides technical alerts, daily summary, trade of the day, etc. Moreover, there is also a section to follow the market calendar to remain up to date with economic events.
• Online Trading Academy
XTB offers courses on trading for all kinds of traders. It is an extensive course that builds a strong foundation in the trading industry. Based on the level of expertise, the academy offers four different courses. These are Basic, Intermediate, Expert, and Premium.
It covers the basics of trading, including knowledge on trading, Forex, or various platforms. The advanced level allows you to learn and get content from the experienced traders in the industry. The courses also offer MT4 and xStation tutorials, fundamental analysis, etc.
While it is a paid course, you can start with a free demo trial to know more about the courses.
Regulation and Client Money Protection
Regulation is required to ensure fairness and ethical dealings. XTB is authorized and regulated by the Financial Conduct Authority (FCA), with the company’s UK office. They strictly follow the rules and regulations by FCA to protect client’s money.
In accordance with the FCA’s regulations, the retail clients’ money is held in segregated bank accounts. The money is ring-fenced, i.e., held separately from XTB’s own funds in separate bank accounts. Each client’s funds are protected up to £85,000, using the Financial Services Compensation Scheme (FSCS). This is to secure the client in case of insolvency.
Traders Across The Globe
The traders from various countries can use XTB for trading. These countries are the United Kingdom, Hong Kong, France, Spain, Italy, Germany, Norway, Thailand, South Africa. Others include Luxembourg, Qatar, Saudi Arabia, Kuwait, UAE, and many more.
However, XTB does not register traders from a few of the countries. You can check their website to get a complete list of countries.