XTB Review & Rating 2021
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 the Broker XTB.
XTB Online Trading is trademark owned by XTB Group, which was established in 2002 and consists out of these three main companies and other subsidiaries; X-Trade Brokers DM SA, XTB Limited and XTB Sucursal. The XTB's headquarter is located in Poland; ul. Ogrodowa 58, 00-876 Warszawa Biurowiec A, VII piętro. Besides this, XTB has 12 other offices located in different parts of the world.
XTB is considered to be a safe broker, this is due the fact that the XTB Group is listed on a stock exchange. Hence, XTB is obliged to publish all of its financial statements as per the laws. Furthermore, the XTB group is licensed through its numerous of subsidies with the FCA, KNF, CMB, FSCA and IFSC. Last but not least, the company got established in 2002, and by their record it shows that they served over 353,000 customers.
XTB offers a large assortment of trading instruments which includes more than 2100 different trading pairs, including Forex pairs, Metals, Oil, Indices, Stock CFDs, ETFs and Crypto CFDs.
In terms of XTB trading platforms, 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.
XTB only offers three basic accounts types: Standard, Swap Free and Pro. The Standard and Pro accounts provide variable spreads. The Pro one is tailored to advanced traders, offering raw market spreads through STP execution.
XTB offers the trading of Crypto via CFDs, which means that you don't physically own the crypto in a wallet. Instead, you trade the cryptocurrencies on a Contract For Difference. The selection of Crypto CFDs is not large, in total you can trade 14 different Crypto CFDs at XTB, ranging from Bitcoin to Dogecoin and others.
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.
XTB is multi licensed, the Forex broker is 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, IFSC, CMB and FSCA.
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. Especially the number of trading accounts is simplified with only XTB Standard account and the Pro and Swap Free account types available. Besides this, XTB's Crypto CFDs assortment is limited to 14 pairs. Also, 24/5 customer support can be an issue for some traders.