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XTB Review and Rating 2022

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XTB is a global broker making its footprint almost all over the world. It's a public company listed in the Warsaw Stock Exchange. With 2100+ instruments and native trading platform xStation 5, XTB is a popular broker. In the following article, we will try our best to give an unbiased XTB review.

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XTB is one of largest forex and CFDs brokers in the world with José Mourinho (The legendary Portuguese Football Manager) as their global brand ambassador. They have over 2100 instruments including forex, indices, commodities, Stock CFDs and ETF CFDs.

The company has its headquarters in Warsaw, Poland. Established back in 2005, this broker has offices in 13 countries, such as the UK, Poland, Germany, France and Chile. Now the Golden question: "Is XTB scam or reliable?" Please find our XTB review and rating in the below given detailed sections.

In this unbiased free AtoZMarkets forex broker review, we share our findings. We will try to be as neutral as possible. If you are from XTB, and feel that some information is wrong or missing, please contact us with valid information. We will make the correction if our team finds it valid.

Overview

Company
9/10
Trust
9/10
Trading Platform
9/10
Account Types
8/10
Costs
8/10
Customer Support
8/10
Regulation
9/10
Cryptocurrency
7/10

Based on our readers-first policy, putting their safety as a priority in our business ethics, we, as AtoZ Markets, scrutinise 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.

Company

9 /10

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. 

History of XTB

xtb review

image source: XTB

2002

It started as X-Trade in Poland as the first ever leveraged foreign exchange brokerage in the Polish market, with headquarters situated in Warsaw, Poland.

2004

In 2004, X-Trade had to merge into XTB to accommodate the new regulations in the Polish financial market. 

2005

The Polish Financial Supervision Authority (KNF) gave XTB authorization to provide brokerage services on all financial products. In the same year, Money Markets Journal awarded 'The Best Broker in Europe' to XTB broker.

2007

They opened their first foreign branch in Czech Republic in 2007. They also got listed in the Warsaw Stock Exchange and also became a member of the Polish National Clearing House.

2008

In 2008 they opened their offices in Germany, Spain, Romania and Slovakia.

2009

They rebranded X-Trade Brokers as XTB Online Trading.

2010

They opened more new branches in Hungary, Italy, France, and Portugal, with cross-border licensing in the Netherlands, Austria, Sweden, Belgium, Greece and Bulgaria.

In 2010, XTB also established its subsidiaries in the UK and Turkey.

2016

X-Trade Brokers successfully listed on the Warsaw Stock Exchange in 2016.

XTB Offered Products

  • Forex

XTB offers forex trading with 57 currency pairs. You can trade on their xStation platform 24/5. Their spread for currency pairs start from 0.1 and they provide 30:1 leverage. Trading Hour Sunday 11.00 Pm to Friday 10.00 Pm CET.

  • Indices

You can also trade indices on CDFs on XTB. They have over 47 Indices. Swap points in indices is 0 while they provide 20:1 leverage for indices trading.

  • Commodities

XTB has over 23 commodities including Gold, Silver, Oil, NatGas, Cocoa, Coffee and Corn etc. Spreads vary on commodities based on instruments. For commodities, they have zero maintenance cost. Leverage for commodities trading is 10:1.

  • Stocks CDFs

XTB offers a large number of stock CDFs. They currently have 1849 instruments. They have stocks from 16 counties including the USA and UK. For stocks trading they offer 5:1 leverage.

  • EFT Trading on CDFs

XBT makes EFT trading very easy with their modern cutting edge xStation5 and xStation Mobile platform. They have 138 EFT instruments for trading. But EFT is only available in European countries. EFT transaction costs start from 0.12% on XTB.

Education

XTB Education

The XTB website has very rich educational resources. They have trading academy where you can have trading courses like basic level, intermediate level, expert level and premium level.

They do a webinar every Wednesday at 5:45 PM. In the webinar, they do live market analysis on their xStation 5 platform. During the webinar, you can have a live discussion or chat with account managers and market analysts.

They also have a wide range of trading educational videos on their website. All XTB account holders can have access to the video courses.

Affiliate Program

xtb affiliate

XTB has a CPA (cost per action) based affiliate program. You can earn up to 600$ CPA. You will get commission only if your referred person deposits a minimum of 400$.

Is XTB a Market Maker (or No Dealing Desk)?

XTB is a no dealing desk broker not a market maker broker. Trades are executed automatically on their patent company X-Trade Brokers without any interventions from any kind of dealing desk.

Trust

9 /10

Is XTB a Trusted Broker?

Xtb trust

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 subsidies with the FCA, KNF, CMB, FSCA and IFSC. Last but not least, the company was established in 2002, and by their record it shows that they served over 389,000 customers.

Is XTB a Scam?

Is xtb scam?

No, XTB is not a scam broker. Rather it's regulated and licensed by all leading regulatory authorities in the world. You can completely trust the broker with your money.

Trading Platform

9 /10

XTB offers their own trading platform xStation 5 along with MetaTrader 4.

  • xStation 5

Xtb xstation 5

image credit: XTB

xStation has advanced trading tools and charts. You can set your stop and take profit as well. xStation also has a trader's calculator. It gives you all the details of your trade, pip value, spread value, margin and protected profit and loss.

XBT xStantion 5 Web Trade Platform is user-friendly to utilise with advanced tools for more advanced traders. It's fully suitable with Chrome, Firefox, Safari and Opera.

xStation Mobile has all the functions needed to trade and quickly handle your financial investments. They have an app for both iOS and Android.

XTB also has a trading platform for the Desktop as well, which has the same functionalities as the WEB variation. You can install it on devices with Microsoft Windows and Mac computer systems.

  • MetaTrader 4

XTB also supports MetaTrader 4. In their MT4, you can use EAs and edit Technical tools. You can also create price alerts on MT4.

Account Types

8 /10

How Many Account Types XTB Have?

XTB only offers two basic trading account types for outside the UK Traders: Standard, Swap Free.

  • Standard Account

  • Execution type: Market Execution
  • Available Instruments: Forex, Commodities, Indices, Cryptos, Stock CFDs, ETF CFDs
  • Number of Instruments: 2100+
  • Maximum Leverage: 500:1
  • Minimum Spread: 0.5
  • Minimum Lot: 0.01
  • Automated Trading: Allowed
  • Account Set Up Fee: Free
  • Trading Platform: xStation (Web Based, Desktop, Android, iOS, Tablet)
  • Account Management: Free
  • Forex, Indices, Commodities: No commission
  • Stock CFDs and ETF CFDs: No commission
  • Cash Stocks: Not Available
  • Swap Free Account

  • Execution type: Market Execution
  • Available Instruments: Forex, Commodities, Indices, Cryptos, Stock CFDs, ETF CFDs
  • Number of Instruments: 2100+
  • Maximum Leverage: 500:1
  • Minimum Spread: 0.7
  • Minimum Lot: 0.01
  • Automated Trading: Allowed
  • Account Set Up Fee: Free
  • Trading Platform: xStation (Web Based, Desktop, Android, iOS, Tablet)
  • Account Management: Free
  • Forex, Indices, Commodities: No commission
  • Stock CFDs and ETF CFDs: Starts from 10$ per lot
  • Cash Stocks: Not Available

For the UK traders, they have Standard Account and Elected Professionals.

  • Standard Account

There is little difference between a UK standard account and International Standard Account. In the UK standard account leverage is 30:1 and spreads start from 0.35. Commission for Stock CFDs and ETF CFDs start from .08% per lot.

 

  • Elected Professionals

A trader needs to have the following criteria to be eligible for Elected Professional of XTB.

√ You have to carry out a minimum 10 big sized transactions for every quarter in the last four quarters.

√ The total value of your investment portfolio including cash deposit and financial assets should exceed €500,000.

You have to have a minimum of 1 year experience in a professional position where financial transaction knowledge is the key.

To know all the facilities of an elected professional, you can check the link below.

https://en.xtb.com/elective-professional-trader/

Cryptocurrency

7 /10

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.

Costs

8 /10

XTB Fees

When you trade with XTB, you will incur fees on each transaction. The amount of the fee will depend on the type of account that you have and the size of your order.

There are three types of accounts at XTB: standard, swap free account and Professional account. Standard accounts incur a commission of 0.35% on each trade, while premium and Swap free accounts incur a commission of 0.08%.

The size of your order will also affect the amount of the fee. For example, orders that are worth less than €5,000 will incur a fee of €10, while orders that are worth more than €500,000 will incur a fee of €2,500.

 

It is important to note that these fees are in addition to the spread, which is the difference between the buying and selling prices of a security. The spread is typically higher when trading with a broker than when trading on an exchange. As such, it is important to factor both the commission and the spread into your overall trading costs.

 

When choosing a broker, it is important to compare the fees and spreads offered by different brokers in order to find the best deal. XTB offers competitive rates, and its commission and spread structure is transparent and easy to understand. This makes it a good choice for traders who are looking for a low-cost way to trade FX, and other instruments.

Account Inactivity Fees: After a 12 month of inactivity they charge €10 or equivalent USD or GBP monthly.

XTB Leverage

Being European, the XTB hasn't offered high leverage ratio recently, as the EU regulator ESMA has updated. However these limitations have certainly been done to help protect trading orders or accounts in general because high leverage rates may impose an enormous threat for traders in terms of financial losses. 1:30 thus remains a suitable level to sustain a potential profitable trade, but is less risky. Furthermore international companies may be offered a very large leverage of up to 1:500 by international customers. You can get additional info from official website here.

Deposit and Withdrawal

  • Deposit

XTB gives a lot of options to deposit your funds.

For UK Residents, you can make your deposit through bank transfers, credit and debit cards and Skrill.

For EU Residents, you can use bank transfers, credit and debit cards, PayPal and Skrill to make your deposit.

For Non UK/EU Residents, you have options of bank transfers, credit and debit cards, Skrill and Neteller to deposit your funds.

Deposit Time: Deposit through bank transfer takes 1 working day for the UK and EU. Other than UK/EU countries it can take 2 to 5 days to reflect the funds on your account. All other deposit methods are instant.

Minimum Deposit: XTB doesn't have any minimum deposit threshold.

Fees on Deposits: There are no fees for depositing through bank transfer, credit card and debit cards.

For the UK Residents they charge a 2% fee for Skrill deposit.

For the EU Residents they don't take any fee for PayPal and Skrill deposit.

For Non UK/EU Residents, there is a 2% fee for Skrill and 1% fee for Neteller deposit.

  • Withdrawal

On XTB, you can make your withdrawal any time you want. You can do it from the xStation or Client Office option from the XTB website after logging in.

They don't send withdrawal to any third party bank account, the bank account should be under the same name as the client name.

Withdrawal Fee: For XTB Limited (UK), they don't charge any fees as long as the withdrawal amount is above £60, €80 or $100.

For XTB Limited (CY), No fees above €100 withdrawals.

For Clients of XTB International Limited, they don't take any fee for withdrawals above $50.

Withdrawal Time: It usually takes 1 business day to 2 business days for withdrawal depending on your region.

Customer Support

8 /10

Xtb customer support

image source: Stock Image

XTB's clients can reach out to customer service via phone, e-mail, and live chat. Live chat is available 24/5. Outside this window, you can email them or call their support number to solve your issues.

Regulation

9 /10

Is XTB Regulated?

Xtb regulation

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. Last but not least, the company was established in 2002, and by their record it shows that they served over 389,000 customers.

Conclusion

As per the research by AtoZMarkets Team, one of the plus sides of XTB is fast deposit and withdrawal. Also, the seamless and hassle-free account opening process. XTB has some drawbacks though. Especially the number of trading accounts is very limited. XTB Standard account and Swap Free account for international clients and only standard account for the UK people. But they have an amazing educational and research facility. Nonetheless, XTB is a fully regulated broker. They are also listed in the Stock market under XTB tiker. It means they have to disclose all their financial reports and can't hide anything. But 24/5 customer support can be an issue for some traders.

Reviewed By

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