XTB Forex Review
XTB, founded in 2002, is a Forex and CFD broker domiciled in London, UK. XTB Limited is regulated and authorized by UK Financial Conduct Authority; funds are protected by Financial Services Compensation Scheme (FSCS). XTB Group is one of the top 10 Forex and CFD brokers in the EU according to Forex Magnates Industry Quarterly Report and is the recipient of a number of additional prestigious European awards.
The accounts at XTB are divided into two types. The PRO (STP) has market execution and a market spread. There is a minimum deposit of £250, $250 or €250 while commission is charged on each trade. The Standard (Float) account has instant execution and a floating spread. There is a micro lot requirement of 0.01 and commission is only charged on equities and ETFs. European citizens trading with XTB will be offered 1:30 leverage for the major currency pairs, in accordance with ESMA regulation. Leverage for EU citizens for exotic pairs, gold and major indices will be 1:20, and EU citizens trading commodities (besides gold) will be afforded 1:10 leverage. Leverage on non-EU accounts is 1:200 and a clear listing of target spreads is posted alongside each category of asset.
XTB is one of only 3 brokers in France that offers a Limited Risk Account which conforms to local regulations.
Traders can trade a wide range of assets including 50 major, minor and exotic currency pairs, over 20 Asian, American, and European stock indices, more than 20 precious and base Metals, energy and agriculture commodities, 200 American, English, Czech, French, German, Italian, Portuguese and Spanish equities, and a wide range of ETFs. Additionally, XTB also offers a wide range of Cryptocurrencies - possibly just behind eToro in terms of its range - with 25 cryptocurrencies and Crypto crosses available to trade, including Bitcoin, Dash, Ethereum, Litecoin, Ripple, and a number of Bitcoin crosses.
A demo account of their award-winning platform - voted ‘2016 Best Trading Platform 2016’ by the Online Personal Wealth Awards is also available on a 30-day trial basis.
Some instruments offered by XTB are based on futures contracts and do not have a specific maturity so they must be periodically rolled over. The advantage of this operation is that the client can keep open positions for much longer than the life of the underlying contract. A rollover allows the client to keep a position on given instrument and remain open when switching to another contract. There are some fees attached to this process.
Unlike many other Forex brokers, XTB offers a choice of three different trading platforms in addition to their mobile platform. The popular MT4 platform is one of the main choices but the other two, the xStation and the xAPI offer some interesting features not available on the MetaTrader4 platform.
All of the platforms can be downloaded to Mac and Windows and are available on most mobile devices.
Each platform is accompanied by an instructional video tutorial on how to maximize the use of the platform features.
The XTB website is available in over 10 languages but when doing this XTB review, I clicked on a language other than English and noticed that the site is not exactly the same. This is due to the fact that the list, which appears as a dropdown, actually designates a location rather than a language.
When it comes to educating their clients, XTB offers quite a lot. with a focus on helping with live trading and their daily Market Talk. Under the technical and fundamental analysis section, there are lessons on Candlestick patterns, Price patterns, Elliot Wave Theory, Trading Breakouts and more.
Another section offers more advanced articles on Money Management and Market Psychology which cover topics such as How to Develop Confidence in the Markets, How to trade through a drawdown, How to overcome fear, Key lessons from reading Market Wizards and other interesting titles.
Additionally, XTB will often offer free trading guides around news-driven events such as Brexit, Trade Wars, Elections etc. These usually consist of an ebook, free demo and some video tutorials.
There are tutorials on the XTB platforms and live webinars on both basic and advanced subjects on an almost daily basis. Additionally there is an FAQ section called ‘the Knowledge Base’, as well as a economic calendar on both the website and within the xStation platform.
Accounts can be funded at XTB via credit and debit cards, e-wallets such as Paysafe (formerly known as Skrill), Neteller and PayPal, and bank wires. Please be aware however that PayPal and Paysafe will charge 2% of your deposited amount from their side.
Withdrawals are made through the Client Office, and are usually processed the same day if they are requested before 1pm. Any withdrawal that’s lower than £60 or $100 will incur a £12/$20 processing fee.
Traders can contact a XTB representative by telephone to their London, UK office as well as to local numbers in 11 other countries. Chat is available 24/5 and email addresses are provided.
Overall, the quality of services offered by XTB is above par. Trade executions are efficiently carried out and customer support is prompt. XTB is highly recommended for serious traders who demand the best from their in terms of trading services offered.Back to Top
One of the main features at XTB is that it is regulated in the United Kingdom, which has a lot of benefits. Safety of funds is paramount, and traders feel very safe at XTB. The large amount of trading markets and additional features allows the trader to take advantage of the conditions that global markets may offer, and as a result find this firm as a great “home base” when it comes to investing as well as trading.Back to Top
A key factor which contributes to XTB’s success in the competitive online Forex trading industry is the availability of a wide range of trading platforms that are designed to suit the different needs of traders.
XTB furnishes their traders with a web based MT4 platform eliminating the need to download the trading platform software onto the computer itself. MT4 is the most popular trading platform available and the XTB version offers an advanced charting package and 30+ technical indicators to support trading. In addition to this, MetaTrader 4 includes integrated One-Click trading directly from the chart.
XTB MT4 Platform
Expert Advisors, robots, are computer programs designed to analyze market data and produce trading signals. Both indicators and EAs can be customized, using MQL4, MT4’s programming language. Trading can be done on the move from iPhone or Android devices.
The xStation platform is the new generation ultra-fast web based trading platform with an average trade execution of less than 85 milliseconds. Other features include advanced chart trading, markets squawk where traders can listen to the voice of the market as they trade, the ability to close all trades in one go or close only the losing or winning active trades and access to 20+ technical indicators including Fibonacci, Elliot Waves, Chart Overlay and more.
XTB xStation Platform
The xApi platform allows traders to create trading apps, robots, algo strategies or improve their EAs without any restrictions. In addition, they can create any trading apps on market alerts, charts, indicators, multi terminals and even private trading platforms without restrictions and in any programming language. If you have an idea for an app but can’t build it, you can turn to one of the 400 listed xAPI developers and they will do the job for you.Back to Top
- Broker's Name : XTB
- Headquarter : United Kingdom LATAM, Spain, United Kingdom
- Regulation : FCA, IFSC, CNB, AMF, ACPR, KNF
- Type of Broker : ECN/STP
- U.S. Clients Allowed :
- Minimum Deposit : None
- Maximum Leverage : 1:200
- Commissions / Spreads : Fixed / Variable
- Account 1 : Pro
- Account 2 : Standart
- Account 3 : Basic
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Institutional Accounts :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : MetaTrader 4, xStation, xAPI
- Platform Languages :
- Multiple Languages
- OS Compatibility :
- Trading Signals :
- Charting Package :
- Market Analysis :
- Chart Trading :
- Automated Trading :
- Scalping :
- Hedging :
- Mobile Alerts :
- E-mail Alerts :
- Trailing Stops :
- Guaranteed Stop Loss :
- Guaranteed Limit Orders :
- One-click Execution :
- OCO Orders :
- Interest on Margin :
- Web-based Trading :
- Mobile Trading :
- Website Languages :
- Multiple Languages
- Support Hours : 24/5
- E-mail Support :
- SMS Support :
- Chat :
Pros and Cons
- Advanced Trading Platforms
- Transparent Pricings
- Comprehensive education
- Wide range of cryptocurrencies
- CFD trading only - no spreadbetting available
- Mobile app doesn’t have the full features of desktop
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