XTB is a publicly listed broker offering its proprietary trading platform, competitive commission-free costs, and 2,100+ CFDs. Is XTB the best choice for you? After reading our detailed review of XTB alternative brokers, trade with the best broker for your needs.
Overview of XTB Alternatives
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- Eightcap, 1:500 maximum leverage and cutting-edge trading tools.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
- XM, Exception range of assets + negative balance protection.
- BlackBull Markets, 1:500 maximum leverage with ultra-low trading fees and deep liquidity.
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsEightcap established itself among the best Forex brokers due to its superb trading infrastructure, excellent order execution amid deep liquidity, competitive fees, and cutting-edge trading tools. Manual traders get a well-designed AI-powered economic calendar. MT5 traders benefit from Flash Trader, while the dedicated cryptocurrency solution Crypto Crusher caters to cryptocurrency traders.
Copy traders get the embedded MT4/MT5 services, and Eightcap connects social traders to the active TradingView community. Beginner traders get an outstanding educational and research offering via Eightcap Labs and Eightcap Trade Zone.
Pros & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformPepperstone, founded in 2010 and headquartered and regulated in Australia, the U.K., and Dubai, is probably the most well-known ECN Forex broker in the world. As an ECN broker, Pepperstone offers raw spreads and low commissions. Taken together, Pepperstone’s “Razor” account offers one of the most competitive costs of trading in Forex that you will find anywhere. In addition to their global headquarters in Australia, Pepperstone also have presences in London, England, where they enjoy full regulation by the Financial Conduct Authority (FCA), and in Dubai, where they are regulated by the Dubai Financial Services Authority (DFSA). Pepperstone is also regulated by the Cyprus Securities And Exchange Commission (CySEC) in Cyprus, the Capital Markets Authority of Kenya (CMA) in Kenya, the Securities Commission of The Bahamas (SCB) in The Bahamas and the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany.
Pros & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
XM
In Summary Exception range of assets + negative balance protectionI rank XM among the best Forex brokers for beginners as it provides exceptional education, with the live education room available Monday through Friday between 06:00 and 15:00 GMT at its core. Beginners also receive actionable trading recommendations, and the $5 minimum deposit ensures accessibility to all traders, boosted by deposit bonuses.
XM rewards active traders with a four-tier loyalty program and supports algorithmic traders with VPS hosting. The well-balanced asset selection exceeds 1,000 assets, and the proprietary copy trading service pays signal providers up to 50% profit share. Swap-free trading and low trading fees ensure a competitive edge.
Pros & Cons
- Outstanding trading tools and loyalty program
- Low minimum deposit, high leverage*, and competitive trading cost
- Excellent research and education
- Trustworthy and transparent with generous bonuses and incentives
- Inactivity fee
BlackBull Markets
In Summary 1:500 maximum leverage with ultra-low trading fees and deep liquidityBlackBull Markets was founded in 2014 in New Zealand. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions. They are regulated in New Zealand by the Financial Services Providers Register (FSPR) and offer a maximum leverage on some Forex currency pairs as high as 500 to 1. In addition to their global headquarters in New Zealand, BlackBull Markets also has presences in the form of branch offices in New York and Malaysia. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should be sufficient for those traders with more focused strategies not requiring wide diversification.
Pros & Cons
- ECN/NDD execution model with deep liquidity
- Institution-grade pricing for retail traders via proprietary price aggregation
- ZuluTrade and Myfxbook for social trading
- Leverage of up to 1:500
- Limited deposit options
| | | | |
Regulators | ASIC, CySEC, FCA, SCB | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | ASIC, CySEC, DFSA, FSC Belize | FMA, FSA |
Year Established | 2009 | 2010 | 2009 | 2014 |
Execution Type(s) | ECN/STP, Market Maker | No Dealing Desk, NDD | Market Maker | ECN/STP, No Dealing Desk |
Minimum Deposit | ||||
Average Trading Cost EUR/USD | 1.0 pips | 1.1 pips | 0.1 pips | 1.1 pips |
Average Trading Cost GBP/USD | 1.2 pips | 1.4 pips | 0.2 pips | 1.55 pips |
Average Trading Cost Gold | $0.12 | $0.15 | $0.19 | 0.12 pips |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Trading View | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Trading View |
Islamic Account | ||||
Negative Balance Protection | N/A | N/A | ||
| Visit Website | Get Started Visit Website75-95% of traders on margin lose | Visit Website | Visit Website |
| | | | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Trading View | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Trading View |
Regulators | Yes ASIC, CySEC, FCA, SCB | Yes ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | Yes ASIC, CySEC, DFSA, FSC Belize | Yes FMA, FSA |
Minimum Deposit | ||||
Automated Trading | ||||
Social/Copy Trading | N/A | N/A | ||
Average Trading Cost EUR/USD | 1.0 pips | 1.1 pips | 0.1 pips | 1.1 pips |
| Visit Website | Get Started Visit Website75-95% of traders on margin lose | Visit Website | Visit Website |
Important Factors in Finding XTB Alternatives
Our XTB alternatives analysis has focused on the five categories listed below, as most traders consider them the key factors for successful trading.
Here are the five most crucial factors when evaluating XTB alternatives:
1. Fees: They directly impact a trader’s profitability and can indicate which strategies a broker supports or discourages, making them our top priority.
2. Account Opening: Brokers usually have a user-friendly online application, minimal personal data collection, and mandatory account verification, but brokers differ in the minimum deposit requirement.
3. Deposit & Withdrawals: All competitive brokers offer bank wires and credit/card deposits, and many brokers support some alternative geographically restricted non-banking options or localized options dependent on authority.
4. Trading Platforms: With algorithmic trading accounting for 80% of daily order flow, MT4 is the undisputed market leader, but some brokers push their proprietary alternatives.
5. Markets & Products: Traders must ensure their broker offers the desired markets and products.
Eightcap
The ability to deploy algorithmic trading solutions in a code-free environment ensures a distinct competitive edge.
Fees
Traders get commission-based fees with minimum Forex spreads starting at 0.0 pips for a $7.00 commission.
Pros | Cons |
|---|---|
Competitive Forex fees | No volume-based rebate program |
No non-trading fees | |
Good pricing transparency |
Account Opening
To open an Eightcap account, you need only an e-mail address, desired password, name, and country of residence.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Seven account base currencies |
Deposit & Withdrawals
Traders may use bank wires, credit/debit cards, Skrill, Neteller, PayPal, BPay, Union Pay, FasaPay, PIX, Dragon Pay, cryptocurrencies, and localized payment processors to deposit & withdrawal from Eightcap.
Pros | Cons |
|---|---|
No deposit fees or withdrawal fees | Potential currency conversion fees |
Fast payment processing times | |
User-friendly back office |
Trading Platforms
MT4 with the Capitalise AI plugin, MT5 with the FlashTrader plugin, and TradingView with its 50M+ social trading community ensure traders have an edge.
Pros | Cons |
|---|---|
VPS hosting for low-latency 24/5 Forex trading | None |
Capitalise AI for code-free algorithmic trading | |
TradingView for social traders |
Markets & Products
With 800+ instruments across five asset classes, traders get a well-balanced selection suitable for most strategies.
Pros | Cons |
|---|---|
Well-balanced asset selection | No bonds or other fixed-income assets |
Excellent beginner research and education via Eightcap Labs and Trade Zone | No ETF trading |
AI-powered economic calendar |
Verdict
Eightcap bests XTB with the Capitalise AI plugin for MT4 ,Read our thorough Eightcap Broker Review to find out more about the pros and cons of this broker.
Pepperstone
Low trading fees, volume-based rebates, and innovative infrastructure make Pepperstone a leading algorithmic trading broker.
Fees
Traders benefit from competitive commission-based costs with minimum Forex spreads of 0.6 pips, including commissions.
Pros | Cons |
|---|---|
Competitive Forex fees | Fixed administration fee on trades maintained past ten trading days |
Low-cost equity trading | |
Rebate program |
Account Opening
Pepperstone maintains a fast, secure online application form, allowing traders to start with their e-mail, Google, or Facebook IDs.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Ten account base currencies |
Deposit & Withdrawals
Traders may use bank wires, credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, and Union Pay for Pepperstone deposits & withdrawals.
Pros | Cons |
|---|---|
No deposit fees | Currency conversion fees |
No withdrawal fees | |
Same-day withdrawal processing |
Trading Platforms
The excellent choice includes upgraded MT4/MT5 trading platforms, cTrader, and TradingView.
Pros | Cons |
|---|---|
Capitalise AI for code-free algorithmic trading | None |
28 MT4 upgrades plus Autochartist | |
Choice of third-party copy trading providers |
Markets & Products
The range of available products includes 1,200+ CFDs, ETFs, and currency indices.
Pros | Cons |
|---|---|
Good Forex selection with deep liquidity | No bonds or other fixed-income assets |
Well-balanced | Limited cryptocurrencies |
Premium client services |
Verdict
Pepperstone trumps XTB due to Capitalise AI, To read more about Pepperstone, find our up-to-date Peppesrtone Broker Review.
XM
Traders get low minimum deposits and excellent promotions, including a loyalty program, making XM a leading CFD broker.
Fees
The commission-free cost structure at XM, includes minimum Forex with spreads from 0.6 pips.
Pros | Cons |
|---|---|
Competitive Forex fees | None |
Swap-free trading on select assets | |
Loyalty program |
Account Opening
The application form requires an e-mail address and desired password to get started.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Ten account base currencies |
Deposit & Withdrawals
Payment processors are bank wires and credit/cards, plus numerous localized payment processors, listed in the back office by availability.
Pros | Cons |
|---|---|
No deposit fees | Currency conversion fees |
No withdrawal fees | |
Reimbursement on bank wires exceeding $200 |
Trading Platforms
Traders get upgraded MT4/MT5 trading platforms, plus the MT4 Multiterminal for account managers.
Pros | Cons |
|---|---|
Six custom MT4/MT5 plugins | None |
MT4 Multiterminal | |
VPS hosting for low-latency 24/5 market access |
Markets & Products
An excellent choice of cryptocurrencies and equity CFDs comprise the bulk of the 1,000+ instruments.
Pros | Cons |
|---|---|
Competitive cryptocurrency selection with 24/7 trading | No bonds or other fixed-income assets |
Well-balanced | |
Superb research, including Trading Ideas and Discover |
Verdict
XM outshines XTB with its loyalty program and incentives.
Learn more about XM from our updated XM Broker Review.
BlackBull Markets
An industry-leading asset selection in a low-cost ECN pricing environment makes BlackBull Markets a compelling broker.
Fees
The Blackbull commission-based trading fees include minimum Forex spreads from 0.0 pips for a commission between $4.00 and $6.00 per lot.
Pros | Cons |
|---|---|
Competitive Forex fees and low swap rates | None |
No internal deposit or withdrawal fees | |
Pricing transparency |
Account Opening
Traders can open an account with Blackbull Markets via Google, Facebook, or Apple IDs or by supplying their desired e-mail address, password, name, date of birth, country of residence, and phone number.
Pros | Cons |
|---|---|
Digital account application | None |
No data mining | |
Well-regulated and trusted |
Deposit & Withdrawals
Bank wires, credit/debit cards, Skrill, Neteller, FasaPay, Union Pay, POLi, Boleto, beeteller, AstroPay, FXPay, HexoPay, PaymentAsia, Use Pay, SEPA, Help2Pay, cryptocurrencies, and localized options are available.
Pros | Cons |
|---|---|
No deposit fees | $5 withdrawal fee |
Low minimum deposit requirements | |
Choice of deposit currencies |
Trading Platforms
Traders get MT4, MT5, cTrader, TradingView, BlackBull CopyTrader, and BlackBull Trade, which ensure traders can trade the markets their way.
Pros | Cons |
|---|---|
VPS hosting for low-latency 24/5 Forex trading | None |
API trading | |
ZuluTrade, Myfxbook Autotrade, and BlackBull Social for copy traders |
Markets & Products
The excellent asset selection of 26,000+ trading instruments includes 200 Forex pairs and physical share dealing.
Pros | Cons |
|---|---|
Excellent asset selection | None |
Cutting-edge trading infrastructure | |
Quality research and education for beginners |
Verdict
BlackBull Markets leads XTB with its asset selection and trading infrastructure.
MultiBank FX
A super choice for demanding traders, MultiBank FX is a liquidity provider to other brokers who use its competitive pricing as liquidity for their trading services.
Fees
MultiBank offers competitive commission-free costs, including minimum Forex spreads from 0.0 pips.
Pros | Cons |
|---|---|
Ultra-low commission-free Forex fees | Expensive trading fees for deposits below $1,000 |
Volume-based rebate program | $60 monthly inactivity fee after three months of dormancy |
No internal deposit or withdrawal fees |
Account Opening
The user-friendly online registration form only asks for a name, e-mail, and desired password.
Pros | Cons |
|---|---|
Digital account application | None |
Well-regulated bank and broker | |
No data mining |
Deposit & Withdrawals
To Withdraw from MultiBank, traders can use bank wires, credit/debit cards, cryptocurrencies, Neteller, Skrill, Pagsmile, Myfatoorah, PlusWallets, Thai QR Payment, PayTrust, Pay Retailers, KoraPay, PaymentAsia, Boleto, PIX, SPE, Praxis, GCash, Dragonpay, and GlobePay.
Pros | Cons |
|---|---|
No deposit fees or withdrawal fees | Potential currency conversion fees |
No minimum withdrawal requirements | |
Fast withdrawal processing times |
Trading Platforms
MultiBank offers MT4, MT5, its proprietary MultiBank FX, plus an in-house copy trading service.
Pros | Cons |
|---|---|
MAM/PAM accounts for account management services | None |
API trading for advanced algorithmic traders | |
Free VPS hosting |
Markets & Products
Traders benefit from a market-leading asset selection, including 14,000+ CFDs on 18 global stock markets.
Pros | Cons |
|---|---|
Well-balanced asset selection | None |
Cutting-edge trading infrastructure | |
No restrictions on trading strategies |
Verdict
MultiBank FX beats XTB with its asset selection and trading services.
Read more about MultiBank, in our updated "MultiBank Broker Review".
Bottom Line
Our review of XTB alternatives concluded with the following results:
- Eightcap allows algorithmic trading in a code-free environment via Capitalise AI
- Pepperstone is an outstanding algorithmic trading broker offering Capitalise AI
- XM shines with its bonuses and incentives in its low-cost trading environment
- BlackBull Markets shines with its asset selection and trading infrastructure
- MultiBank FX is a top-tier liquidity provider with an excellent asset selection
