Are you considering to trade with XTB? Wondering if XTB is scam or reliable? The company has its headquarters in Warsaw, Poland. Established back in 2005, this broker has offices in 13 countries, such as UK, Poland, Germany, and France. Now the Golden question: "Is XTB scam or reliable?" please find our broker review and rating in the below given detailed sections. In this unbiased free atozmarkets.com forex broker review, we share our findings, however, it is limited. If you are from XTB, please contact us to fill the rest of the information.
Based on our readers-first policy, putting their safety as a priority in our business line, we, as AtoZ Markets, scrutinize not only the broad headline with which a brokerage platform identifies itself, but even the smallest details about it.
This comes from our belief in values in the first place, and the must-have truth and transparency in what we publish on our website, en route of keeping the trust our readers put in us, which of course has contributed much to our name and stands behind its continuous ascendance.
For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography and reputation, when it comes to presenting our audience with an overview about a brokerage firm. In this review, we will dive in depth of XTB forex broker.
XTB Limited is authorized and regulated by the UK Financial Conduct Authority (FRN 522157) with its registered and trading office at Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom (company number 07227848). Other than that, XTB as a group is also regulated by the authorities including the KNF, and CMB.
XTB offers two types of trading platforms to its clients: their in-house xStation and the renown MetaTrader 4, both available as desktop, web and mobile versions. On the flip side, XTB missed the two-step login, the leverage setting option, and the more sophisticated order types.
There are three basic accounts types offered by this broker: Basic, Standard, and Pro. The Basic account is suited for beginners, as well as regular traders who prefer fixed spreads, while the Standard and Pro accounts provide variable spreads. The Pro one is tailored to advanced traders, offering raw market spreads through STP execution.
XTB forex broker requires $250 as initial deposit for opening a live account, which is considered average. This broker offers both fixed and variable spreads. The fixed ones are available on the Basic account and amount to 2.0 pips on EUR/USD, which is average. As regards the variable spreads, the ones provided on the Pro account are as low as 0.3 pips on EUR/USD but incur a commission fee of $4 per lot. No commission is charged on the Basic and Standard accounts.
XTB's clients can reach out to customer service via phone, e-mail, and in some cases, live chat. However, customer service is available 24/5 and e-mail service is slow.
As per the research by AtoZMarkets Team, one of the plus sides of XTB is fast deposit and withdrawal are fast. Also, the seamless and hassle-free account opening process. XTB has some drawbacks though. Its product range is mainly limited to FX and CFDs, but there are real stocks too in some countries. When opening the account the sales team can be pushy. Also, 24/5 customer support can create huge trouble for traders.