XTB Review

Overall Score: 85 Points

BrokerAware Rank: #13

Min. Deposit: $5
Max. Leverage: 1:30
Trading Platforms: XTB WebTrader, MT4

XTB is a global CFD and forex broker that emphasizes regulation and offering CFDs on major world indices, commodities, stocks, metals, and financial products. The company offers its clients institutional-level execution quality in more than 25 countries and 12 languages.

Source: XTB

This was one of the first CFD brokers to offer trading in crypto currencies and later added the new Algo-trading feature. The variety of investment instruments available on XTB gives traders more freedom to choose what fits their needs and goals best.

XTB provides its clients with financial leverage anytime, anywhere. They offer more than 4,500 CFDs and 40+ forex pairs for CFD trading and over 120 markets on which you can trade forex. If you’re after a high level of customer service, XTB offers 24/5 support via telephone, webchat, email and even Facebook Messenger. 

The trading platform: Is it easy to use?

The XTB platform has been re-engineered to be more user friendly and is jam-packed with features designed to help you succeed. This platform comes in two flavours. The first is the XTB xStation 5 platform, which offers powerful tools and features like technical analysis indicators and over 2000 trading instruments. This same functionality is also available via a web platform with your PC or Mac, known as MT4.

Source: XTB

XTB’s xStation 5 platform provides traders with a stable environment to complete their analysis, execute trades, and maintain open positions. We found it visually appealing and refreshingly simple, yet still offering advanced features not commonly found in trading platforms. Trading automation is not available at XTB’s xStation 5. However, the difference in spreads is negligible, making the MT4 platform the best alternative for traders at XTB.

Trading account types, fees and minimum deposit

At XTB, customers choose from two account types: Standard (spread-only) and Pro account. While XTB’s spreads align with the industry average, depending on the currency pair, its commission-based Pro platform is a great choice for investors.

XTB’s standard XTB account is the most widely available across English-speaking markets. The EUR/USD spreads are 0.949 pips as of August 2019, according to CMC Markets data. The broker’s commission-based Pro account has tighter spreads of 0.349 pips for major pairs with borrowed funds on offer.

Source: XTB

While most forex brokers offer a standard account, XTB offers a Pro account with higher leverage and lower fees. During Q2 2020, the average spread for the EUR/USD pair was 0.86 pips with the standard account and 0.79 pips with the Pro account. Of course, both accounts come with generous deposit bonuses, and each has different features and minimums.

We would recommend the standard account for retail traders that are starting due to its features and lower fees, even though its spreads may be slightly wider.

What types of traders is XTB is suited for?

XTB is a great choice if you want low-cost trades without any frills. In addition, the low minimum deposit will be suitable for many traders that are just starting. Since XTB is a broker regulated by both the FCA and CySEC, its reputation with regard to security is solid. XTB offers leverage of up to 30:1.

Source: XTB

The firm places a strong emphasis on customer support and provides user-friendly self-management tools. The company has a diverse range of currency pairs, including MT4 and mobile trading.

What are the risks associated with XTB? XTB’s overall Trust Score is 93 out of 99. The XTB Forex Trading platform is regulated by several top tier authorities, including the FCA in the UK. This means they can be trusted to look out for your investments and to conduct business ethically. There are no real red flags when it comes to XTB, so you should feel safe about opening an account with them.