XTB Review
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Is XTB a scam or a reliable broker?

Broker XTB: review 2021, license, trading terminal, history and real reviews, dossier.

7,9 / 10

Overview of the main functions, trading terminal, XTB reviews, account types. History of the company.

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Broker XTB: review 2021, license, trading terminal, history and real reviews, dossier.
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First Impression

With more than 14 years of experience, XTB is one of the major FX & CFD brokers. Currently, the company is represented in most European countries, as well as China, India, CIS countries. The broker works under the supervision of several regulators. The site of the company is translated into 18 languages. Despite this, the information is clear and the interface is pleasant. There is a block of educational materials of good quality, as well as a news and market analysis section (most of the materials can only be accessed after opening an account with the company).

Our XTB broker review contains lots of useful information in the detailed description. The company was registered in 2002. X-Trade Brokers (XTB), founded in Poland in 2002, in 16 years of existence has grown and become a very reputable online broker. In 2016, the broker listed on the Warsaw Stock Exchange after a successful initial public offering, during which the company was valued at nearly $350 million.

XTB provides the ability to trade many different assets for traders around the world, offering over 50 currency pairs, over 20 indexes and 1,500 stock CFDs, as well as over 60 ETFs and over twenty popular commodity CFDs through its proprietary xStation platform suite as well as the MetaTrader4 platform from MetaQuotes Corporation.

In 2017, XTB announced plans to temporarily withdraw from the Turkish market, where it holds a license from the Turkish regulatory authority CMB.

This is due to changes in laws in Turkey, due to which the offering will be phased out in mid-2018.

Also in 2017, XTB introduced five margin CFDs on cryptocurrency pairs, including BTC/USD, ETH/USD, XRP/USD, LTC/USD and DASH/USD.

The financial regulator is the International Financial Services Commission of Belize (IFSC). The broker has representative offices in Spain, Poland and the UK, where it is authorized and regulated by the national commissions of financial supervision. X Trade Brokers is focused primarily on working with European investors. XTB has received a number of significant awards, including "Best Broker in Europe" by Global Banking & Finance Review and "Best Financial Teacher" by World Finance Exchange Brokers.

About XTB
About XTB

Terms and conditions of XTB 

Any review XTB must contain Fees & Commissions

XTB offers three basic account types: Basic, Standard and Pro, the latter based on commission.

The accounts differ in order execution methods and spread calculation model. In general, spreads for some of the major pairs, such as EUR/USD, are quite competitive.

Aside from the execution methods, which vary depending on the type of account - ranging from dealing desk execution to agency execution - other differences between accounts mainly lie in spreads.

According to XTB, in the basic account the target spreads can be as low as 2 pips, while in the standard account they are as low as 0.35 pips and the spreads in the PRO account (not including transaction fees) can be as low as 0.28 pips.

Trading conditions

Investment Services

The following table summarizes the investment products available to XTB clients.

Securities traded on US exchanges Yes
CFD - total offer 2100
Minimum initial deposit 250 $
Currency pairs (total amount) 49
Securities traded on international exchanges Yes
Cryptocurrencies by themselves None
Cryptocurrencies in the form of CFD Yes
Accounts Demo, Standard, Islamic
Deposit/withdrawal: Visa, Mastercard, Skrill, Neteller, Wire-Transfer, SafetyPay
trading platform MetaTrader 4, xStation 5

Minimum account number is not limited.

● There is no Islamic account.

● There is a commission for certain operations (0,08% of the lot or 4$).

● Email alerts and warnings are available.

Affiliate programs are foreseen.

Automatic trading is available.

Accounts type XTB
Accounts type XTB

How to open an XTB account

Creating an account with XTB is very easy, and you do not need to meet any other requirements than being of legal age. First, you have to choose the "Become a Customer" option at the top right of the official XTB site.

On the first screen, you must enter your email address and country of residence and consent to the processing of your personal data. This is completely secure and is done only for legal and contractual reasons.

Remember that the email must be real and used, as you will have to confirm your registration from there. In the next steps, you will be asked for other personal information such as mailing address, phone number and date of birth.

Then you have to choose the trading platform, the type of account and the currency it will work with. This choice has nothing to do with the currencies in which you can invest at XTB, but with the type of billing for deposits and withdrawals.

Finally, general information about your job and financial situation as well as your trading experience should be provided. It is imperative that all information is correct, as these applications have a logical explanation.

The amount of net liquid assets can determine in the future the maximum deposit limit that will be allowed for your XTB account. On the other hand, the base currency of the account is also important information.

If the chosen currency matches your bank account, or if you choose to invest in assets in the same currency, you will not have to pay conversion fees and you can save money.

Open an account with XTB

Requirements and verification

Verifying an account consists of several steps. The first and easiest is to follow the verification link in your mailbox. Then you need to verify your identity and residency.

The identity verification depends on your country of residence. In some cases, you can make a video call to an XTB representative. In other cases, you must provide a copy of a valid document such as an ID or passport.

Scanned copies of utility bills or bank accounts are accepted for residency verification.

Demo Account

One of the tools that has earned XTB the best reviews among experts and users is the leeway gained by creating a demo account.

The purpose of this type of account is to allow novice brokers to familiarize themselves with the terminology and dynamics of trading, gaining experience without any risk.

With the demo mode, it is possible to make trades, which of course are not real, in the Forex markets, cryptocurrencies such as Bitcoin and Ethereum, currency pairs, commodities and any other financial instrument that XTB offers.

XTB Demo account
XTB Demo account

Available countries

Although XTB is a Polish company with offices in more than 10 countries, it is possible to create an account from almost anywhere in the world. However, some notable exceptions are listed below:

United States, Canada, Australia, Japan, Slovakia, Singapore, Mauritius, Israel, Turkey, India, Pakistan, Bosnia and Herzegovina, Ethiopia, Uganda, Cuba, Syria, Iraq, Iran, Kenya and Romania.

Financial assets 

In the majority of the reviews about XTB, users single out the following groups of trading tools, which allow earning maximum sums on the concluded financial transactions.

  • Currency pairs.
  • Commodities and agricultural commodities.
  • Shares of the major enterprises.
  • CFDs (on different contractual instruments).
  • Bonds.
  • Indices
  • Cryptocurrencies CFDs
  • Other securities (blue chips);
  • Financial instruments (blue chips).
Type of account Spread / commission Withdrawal commission
Standard From 5$ 1.5% - when withdrawing to a bank card (Visa, Mastercard) and SafetyPay; 2% - when withdrawing to Neteller and Skrill
Islamic From 7$ 1.5% - when withdrawing to bank card (Visa, Mastercard) and SafetyPay; 2% - when withdrawing to Neteller and Skrill

Analytics

One of the broker's most interesting analytical tools are screeners, heat maps and sentiment indicators.

These tools are available on the broker's website XTB, as well as in trading applications.

The news and analytics section offers a number of interesting analyses throughout the day.

The economic calendar is handy. It is integrated into the trading platform.

Most of the functionality is implemented in the broker's own platform xStation 5. However, a feature such as testing is only available in MT4.

Platforms and Tools

XTB's main platform, xStation5, is available as a web version as well as an app for mobile devices, tablets and even iOS and Android smartwatches.

In terms of innovation, the most significant new features added to xStation5 and not available in xStation3 are the ability to set the distance to stop loss or take profit (limit) as a percentage of the balance, as well as new heat maps and sentiment analysis tools.

In addition, the Education tab was introduced in 2017.

Although the number of features has been kept to a minimum to avoid overcomplicating the platform, XTB has done an excellent job of balancing this by adding enough features while keeping the interface simple to use and uncluttered.

As for the web version, xStation3 was Flash-based, but xStation5 uses HTML 5.

This is a huge change which not only improved the speed but also created a very modern, clean design. The menus and fonts look very crisp, and the graphics are much clearer too.

For example, the charts now have a countdown timer that shows the remaining time on each candle, and right-clicking on the chart opens an extensive drop-down list of items for quick access to trading and analysis.

The customization options are very extensive and include 25 drawing tools and 26 technical indicators.

The main chart analysis tools are accessible from the sidebar to the left of the main chart window.

The usability of the platform is obvious, as the size of the panels can be easily changed, charts can be detached for more focused analysis, the order placement window is designed very clearly, and several templates are available in the interface.

Let's move on to reporting tools: the platform has a statistics section that allows traders to analyze the history of each of their trades (only for closed positions), including the calculation of maximum drawdown and average profit/loss over time, as well as other tools to assess performance.

It is important to note that the Statistics tool can only be used to analyze closed trades.

Thus, this tool is designed to analyze trading history and not for real-time risk management.

One unique feature that we found useful during testing is xStation5's network connection sensor, which shows your internet speed as well as additional information such as any disconnections that have occurred since the start of the current session.

If xStation5 does not meet your trading needs, XTB also has the full suite of MetaTrader 4 (MT4) platforms available: desktop, web and mobile.

Since xStation5 does not support automated trading, you will have to use MT4 in this case.

Overall, the xStation package in XTB is a high-quality offering for traders that keeps getting better every year.

A desktop version of xStation5 is also coming out soon, and we look forward to testing it in our next annual review.

With all variables taken into account, in our 2018 review in the Platforms and Tools category, broker XTB ranked 25th out of 43 contenders.

Platforms XTB
Platforms XTB

Mobile Trading.

XTB's xStation mobile app, which is easy to manage from the top left menu bar, ranks high in terms of functionality, design and ease of use compared to the major competitors' mobile apps.

However, there is still room for further innovation, although the foundation of the mobile app is very good.

The charts work well in both landscape and portrait modes, but there are only 10 indicators and 10 drawing tools.

Although this is quite comparable with the industry standards, I would like to see more, considering that the desktop version has 25 drawing tools and 26 indicators.

Everything is clear with the disadvantages, but it is possible to save trend lines on charts, and only few brokers offer this feature in mobile devices.

App XTB
App XTB

Overall, the XTB mobile app is of a quality that is slightly above the industry standard.

One of the features we would like to see in 2018 is syncing watchlists so that list changes on the web platform sync with the mobile app, and vice versa.

In the mobile trading category, XTB ranks 18th out of 43 brokers.

Android app Available at
App for iOS Apple Yes
Charts - draw trend lines Check out
Charts - opportunity to rotate horizontally Check out
Charts - technical studies/indicators 30
Synchronization of observation list No
Trading - Forex Yes
Trading - CFD Yes
Alerts - main fields Check out

The strengths of XTB over its competitors are:

minimum deposit - $250;

A wide choice of trading instruments;

branches in 12 countries. 

Excellent phone support.

Five CFDs on cryptocurrency pairs are available (with leverage).

Weaknesses of XTB:

demo account is only available for four weeks;

the absence of PAMM-accounts;

the broker is oriented on the European clients. The registration procedure for citizens of the CIS is much more complicated.

Conclusions:

XTB is an acceptable broker, which is focused on professional traders and the European segment of the market.

XTB provides standard financial services in the Forex market. The broker has a wide enough choice of trading instruments. At the same time, the company does not provide the possibility of PAMM investing, and all analytical and training materials are available only in English. It should also be noted that the broker provides the opportunity to work on a demo account only for four weeks.

The company offers its clients to work on two trading platforms: MetaTrader 4, xStation 5. In addition, the broker has a mobile platform, which gives traders the opportunity to trade from anywhere in the world.

The following useful services of XTB broker should be noted:

"Market News" - the trader has access to the most important news that affects the market;

"Trading Academy" - video courses for teaching trading;

Trading calendar, which displays the most important information about the economies of different countries.

SUMMARY
RECOMENDED
Easy to use
8 / 10
Reputation
8 / 10
Minimizing Fees
7 / 10
Customer support
9 / 10
Deposit/withdrawal
7 / 10
Build-in Analytics
8 / 10
7,9
CONS
-
demo account is only available for four weeks
-
the absence of PAMM-accounts
-
the broker is oriented on the European clients. The registration procedure for citizens of the CIS is much more complicated
Broker: XTB
Founded in: 2002
Minimum deposit: 250
Demo account: Free
Commissions & fees: 1 - 2 %
Regulation: FCA, IFSC, CNMV, CMB, KNF
Visit official website
Broker’s statistic
Broker: XTB
Founded in: 2002
Minimum deposit: 250
Demo account: Free
Commissions & fees: 1 - 2 %
Regulation: FCA, IFSC, CNMV, CMB, KNF