XTB was established in 2002 and is a multi-national CFD broker with offices in London and Warsaw. Several financial regulators oversee the business, including the prestigious UK Financial Conduct Authority (FCA). Additionally, XTB is compelled to frequently report its financials because it is listed on the Warsaw Stock Exchange.
XTB is regarded as secure because of its established track record, listing on a stock exchange, and transparent publication of financial statements.
WARNING: Recent feedback on deposits and withdrawals – According to recent feedback we received, some of our users may not understand the specifics of making deposits by wire transfer. In the “Deposit and withdrawal” portion of the review, under the heading “Deposit and fees and choices,” we describe how to make a free wire deposit to your XTB account if you run into issues.
Disclaimer: Due to leverage, CFDs carry a significant risk of losing money quickly. 76% of retail investor accounts that trade CFDs with this service experience losses. You should think about your understanding of CFDs’ operation and your ability to bear the substantial risk of financial loss.
Pros and downsides of XTB
Low-cost forex CFD fees are charged by XTB, and up to €100k in monthly trade volume, stocks and ETFs are offered without commission. Credit/debit cards and electronic wallets are only a couple of the many alternatives available for quick, usually free deposits and withdrawals. Additionally, opening an account is simple and quick.
On the down side, XTB only offers a small selection of products, primarily CFDs, but some European clients can also access genuine equities and ETFs. Furthermore, XTB only provides fundamental data and levies an inactivity cost.
Pros
• Founded in 2002, XTB is a safe (low-risk) broker for trading forex and CFDs because it is publicly traded and regulated in one tier-1 country.
• The xStation platform package from XTB offers a wide range of trading tools and capabilities combined with exceptional usability.
• Through its Trading Academy, XTB provides an outstanding selection of in-depth educational videos, textual materials, and more than 200 lessons.
• XTB U.K. recently introduced share CFDs with zero-dollar commissions.
Cons
• Aside from its weekly webinars, XTB does not offer daily English-language video updates (but does so in other languages).
• MetaTrader 4 (MT4) is no longer advertised at the XTB branches in the U.K., Poland, and Cyprus, although it is still possible to individually request it from a few global XTB offices.
• The xStation 5 platform has temporarily stopped supporting the custom investment basket feature.
• XTB’s Polish branch is the only place in the EU where cash equities are offered.
XTB security
With a 95 out of 99 total Trust Score, XTB is rated as low-risk. One tier-1 regulator (high trust), three tier-2 regulators (medium trust), and one tier-3 regulator have authorized the publicly traded business XTB (low trust). The Financial Conduct Authority, a tier-1 regulator, has granted XTB authorization (FCA).
Making an investment offer
CFDs on 1,848 stocks, 135 ETFs, 22 commodities, 36 indices, 5 cryptocurrencies, and 57 FX pairs are accessible to traders through XTB. In addition, as part of its securities offering, XTB offers 150 ETFs and roughly 7,800 non-leveraged cash shares (though these are not available from its U.K. or Cyprus branches). The many investment products that are offered to XTB clients are listed in the following table.
Trading in cryptocurrencies is possible at XTB through both CFDs and trading the underlying asset (e.g. buying Bitcoin). Retail traders from any broker’s U.K. are not permitted to purchase cryptocurrency CFDs. entity, nor to U.K. residents (except for professional clients) (except for professional clients).
Fees and commissions
There are two different account types offered by XTB: a spread-only Standard account and a commission-based Professional account, the latter of which is only available to customers who fulfill the UK’s definition of elected professionals. plus Europe. Overall, XTB’s pricing is competitive with the industry standard, however it lags below the top brokers in this field.
Average spreads: According to statistics from Q3 2021, the EUR/XTB USD’s average spread was 0.91. (note: the commission-based pro account is being phased out and is no longer promoted).
Standard vs. Pro accounts: When trading at bigger volumes, XTB’s Standard and Professional accounts have similar pricing; minimum deposits begin at 250 base currencies ($250, £250, or $250). The Standard account, though, seems more affordable for modest sums. The Standard account is the one I would recommend for retail traders, especially since most regions no longer offer the Pro account, with the exception of few historical clients.
Discounts for active traders: XTB will reimburse you for a portion of the spread (from 5% to 30%) when you reach certain volume thresholds, starting at 20 lots per month and going up to 1000 lots for the full 30% discount, for active traders (and those in the EU who meet the definition of elective professionals). XTB’s Lower Spread Group, an active trader program, helps the business compete with similar services provided by FXCM, FOREX.com, and CMC Markets.
Apps for mobile trading
While the XTB-exclusive xStation 5 mobile app is far better and accessible worldwide, the MetaTrader 4 mobile app is only available in select regions. There is no doubt that XTB’s mobile application can rival the top forex brokers.
Functions of the xStation 5 mobile app include streaming news, pre-defined watchlists, an economic calendar, top movers, and client sentiment data. The app is well-designed and has many features that are identical to those of the xStation 5 website. The mobile app’s integrated videos offer educational material similar to webinars, with some of the videos running longer than an hour.
xStation 5 charts are decent but not outstanding; I was dismayed to see that watchlists do not sync with the platform’s web version and that there are only half as many indicators (13 total). With xStation 5 mobile charts, you can easily add indicators to your charts while zooming in on different time frames and have your trend lines and drawings automatically saved.
Additional trading platforms
The feature-rich xStation 5 platform from XTB, which is available in a few locations, steals the show with its sleek appearance and potent features.
Overview of the platforms: XTB provides two prominent web-based trading platforms: the xStation 5 platform and, in some regions, the MetaTrader 4 (MT4) platform created by MetaQuotes Software Corp. (not available from Cyprus, France, or the U.K.).
Charting: xStation 5 stands apart thanks to a number of distinctive features that go beyond its responsive modern style (as well as its 30 drawing tools and 39 technical indicators). For instance, I adored how charts had a countdown timer that displays the amount of time left in each candlestick. Additionally, economic news releases are displayed along the chart’s bottom axis, giving traders useful information during significant economic events.
Trading tools for xStation 5: xStation 5, XTB’s flagship platform, offers exceptional performance across web, mobile, tablet, and even iOS and Android smartwatches. Highlights of the trading tools include a flexible stock screener, color-coded heat mapping for identifying top movers, and sentiment data that displays the proportion of XTB clients who are long or short for a specific trade symbol.
Market analysis
Thanks to excellent analysis from both internal staff members and outside vendors, XTB’s research content can compete with the finest in the sector. Having said that, XTB has a strong international presence in other languages but does not produce as many daily English articles and videos as other of the finest brokers in this category.
Overview of the research: As part of its Premium Research service, XTB makes up for Trading Central and Authochartist’s absence by providing exclusive strategies. In addition to providing live headlines from reputable news sources, XTB also provides research platform features including a market sentiment indicator and an economic calendar. Additionally, XTB offers weekly video webinars on YouTube, as well as written articles from its staff in additional supported languages like Polish, German, and Italian.
Market news and analysis: On its Market News page, XTB produces high-caliber articles that are then streamed as headlines on the xStation 5 platform. The research offers elements like its “Chart of the day” series together with fundamental and technical analyses. With price assessments from Thomson Reuters, Barclays, Citi Group, and other top-tier suppliers, XTB’s news panel also has trading signals.
News filtering: At XTB, it can be difficult to tell which articles were authored by in-house staff members and which ones were from outside sources. For instance, the web platform of Saxo Bank enables source-based filtering of news material (in-house vs third-party). I value what the XTB team has to say as a trader, so having the option to filter or quickly recognize internal content would be a good improvement.
Education
Thanks to its vast written content, video resources, and recorded webinars, XTB’s educational offering impressed me. XTB does a fantastic job of integrating education throughout its platform family and website, in general. The arrangement of its video material is lacking; it is dispersed across both its platform and its YouTube channel rather than existing in one place.
Learning center: The “Learn To Trade” part of the XTB website features a number of resources, all of which may be sorted by subject or skill level. More than 200 lessons, improved FAQs, platform tutorials, financial market education, and premium content for real account holders are all available in XTB’s well-organized Trading Academy.
There are at least ten classes that cover the basics of forex and CFDs, and there are tests in each of the categories. Numerous articles on more general topics, such as “What are macroeconomic indicators?” are also available.
There is room for improvement: XTB offers a good variety of films on its YouTube channel, including 17 videos in its Masterclass series, and within its Trading Academy. The Premium area of the xStation 5 web platform and mobile app includes several of these videos as well. A fantastic method to set up easy access to all of XTB’s video content is to organize all of these films by category or skill level and keep them all in one location, like the Trading Academy or a special video library. However, quizzes or tests would be a great addition. I also liked that progress monitoring is included, providing traders the choice to evaluate their learning progress.
Types of accounts
You can only select one sort of account by default, and it is referred to as a Standard account. A Swap-free/Islamic account may also be opened if the account is opened from outside of Europe. This account type doesn’t impose swap fees and complies with Islamic law.
There is also a corporate account accessible.
Steps for creating an account
The process of opening an account with XTB is simple and uncomplicated, and it shouldn’t take you longer than 15-20 minutes.
The steps for opening an XTB account are as follows (country specific).
1.Enter your email address and country of residence.
2.Add a few details about yourself, including your address and birthday.
3.Select the trading platform and account base currency.
4.Give details about your employment situation, financial situation, and trading history.
5.Verify your identity and address to activate your account.
It’s a fantastic service that some European customers can use to confirm their identity via video chat. You must upload a photo or scanned copy of your photo ID, passport, or driver’s license if video verification is not possible. Utility bills or bank statements are accepted as proof of residency.
Once your documents have been uploaded, XTB will quickly verify your account.
Currency bases for accounts
XTB’s account base currency selection includes USD, EUR and GBP. Accounts are offered in HUF and PLN in addition to these popular currencies.
In comparison to certain close competitors, this choice of account base currencies is regarded as mediocre.
Why does this matter? For two reasons. You don’t have to pay a conversion fee if you fund your account in the same currency as your bank account or if you trade assets in the same currency as your account base currency.
Opening a multi-currency bank account at a digital bank is an easy method to avoid currency conversion fees. Digital banks provide free or inexpensive international bank transfers as well as bank accounts with great currency exchange rates in a number of different currencies. On your phone, opening an account just requires a short amount of time.
Options and fees for deposits
Bank transfers to XTB are free of deposit fees. Depending on your country of residency, using credit/debit cards and electronic wallets to deposit may incur fees. These fees typically range from 1-2%. For UK consumers, PayPal and Skrill, respectively, charge 2% of the deposited amount.
Numerous electronic wallets, in addition to bank transfers and credit/debit cards, are also accepted for deposits:
• PayPal
• Paysafe
• Skrill
• Neteller
• Paydoo
• PayU
• SafetyPay
• ECOMMPAY
• BlueCash
• Blik
• Sofort
Which electronic wallets are available to you depend on where you live. For instance, only German consumers can make a deposit via Sofort.
In contrast to fast payments made using credit/debit cards and electronic wallets, bank transfers can take several business days. Only funds in your name from legitimate sources may be deposited.
ADVICE: According to recent comments regarding deposits and withdrawals, if you select a bank (wire) deposit, be sure to review the information under Deposit funds -> Bank transfer on XStation 5.
• The term “Account No” denotes the account number. This is the bank account for XTB where they might receive your deposit.
• “Transfer description” refers to a special ID you must associate with the transfer in order for XTB to verify your deposit.
• XTB also offers the currency you must use for your deposit, the name of the “Beneficiary” SWIFT code, and the IBAN number if your bank requires these instead of the standard account number.
XTB withdrawal options and fees
If the amount is greater than a predetermined threshold ($50–$200 depending on your country of residence), XTB levies no withdrawal fees.
Money can only be withdrawn via bank transfer.
What is the time frame for XTB money withdrawals? Withdrawals via bank transfer took one business day. The withdrawal will arrive the same day if you start it before 1 p.m.; otherwise, it will arrive the following working day.
Only accounts with your name on them are eligible for withdrawals.
How may money be taken out of XTB?
• Open a trading platform account.
• To deposit and withdraw money, click the bottom right button.
• Enter the information for your bank account and the amount you want to withdraw.
• Start the withdrawal process.
Products and markets
Only CFDs are available by default on XTB. Real stocks and ETFs can also be traded by some European clients. Bonds, mutual funds, options, and futures are examples of popular assets that are not offered.
A CFD broker is XTB. Check out our CFD trading recommendations to find out more about CFDs.
Disclaimer: Due to leverage, CFDs carry a significant risk of losing money quickly. 76% of retail investor accounts that trade CFDs with this service experience losses. You should think about your understanding of CFDs’ operation and your ability to bear the substantial risk of financial loss.
Overall, XTB’s CFD selection is comparable to that of Trading 212 and eToro.
Beginning on January 6, 2021, the Financial Conduct Authority (FCA) of the UK forbade the sale of crypto-derivatives to UK retail customers.
The products’ default leverage level cannot be altered. This is a disadvantage since we think it’s something you should be able to control as a significant issue.
When you wish to reduce the risk of your deal, the ability to manually change the leverage is a really helpful option. Be cautious when trading CFDs and forex because the preset leverage levels could be excessive.
Consumer assistance
The phone and live chat support services offered by XTB are dependable, quick, and multilingual. On the negative side, European customers can only access customer assistance 24/7.
Pros:
• Phone assistance
Live chat
• Quick reaction time
Cons:
• No round-the-clock assistance
You can reach XTB by way of:
Live chat
• Phone
Numerous languages, including less common ones like Hungarian or Romanian, are available for customer service.
Live chat on XTB is efficient. We tested it across various nations and in a variety of languages. We received timely responses and helpful information.
When we evaluated XTB’s phone support, it was excellent. We received prompt phone responses and pertinent information.
We requested assistance from XTB via email, and within a few hours, we received a call. Customer service was able to respond to all of our follow-up questions during the call as well as the one we had submitted via email.
Customers outside of Europe can contact XTB customer service at any time. However, customer service is only provided round-the-clock for clients in Europe.
Education
The education area of XTB is well-structured and unambiguous; it provides written and video resources as well as lessons for trading platforms.
Pros
• Trial account
• Tutorial for trading platforms
• Instructional movies
Cons
None
The high-quality, diversified educational resources offered by XTB include:
• Trial account
• Platform tutorial videos
• Common educational movies
• Webinars
• Reliable ebooks and informative content
We liked how instructive texts are organized so that they are both classified according to the user’s trading experience and by subject. The texts are well written, comprehensible, and logically organized. You can complete a test at the conclusion of each lesson. Other brokers don’t typically offer this fantastic feature.
Videos about trading platforms and educational content are also available on the website. Additionally, XTB occasionally provides live webinars.
Is XTB governed?
Several financial authorities supervise it:
• The Financial Conduct Authority of the UK (FCA)
Cypriot Securities and Exchange Commission (CySEC)
• the Polish Financial Supervision Authority (KNF) (KNF)
• Spain’s National Securities Market Commission, or CNMV
• the Financial Services Authority of Dubai (DFSA)
• Belize’s Commission for International Financial Services (IFSC)
Background
XTB started out in 2002. We have more evidence that a broker has successfully weathered prior financial crises the longer the broker has been in business.
A major benefit of XTB’s listing on the Warsaw Stock Exchange is that it regularly and transparently provides its financial accounts, which increases security.
Being controlled by financial authorities, being listed on a stock exchange, and producing financial statements are all excellent indicators of XTB’s security.
To sum up
A top-notch CFD broker is XTB. The company is listed on the Warsaw Stock Exchange and is subject to oversight from numerous financial regulators throughout the world, including the UK’s FCA.
In contrast, many European clients can trade stocks and ETFs commission-free up to a monthly trade volume of €100,000 because to XTB’s low forex CFD fees. We also like how quick and generally cost-free the deposit and withdrawal processes are. The procedure of opening an account is simple, quick, and hassle-free.
However, XTB has some shortcomings. Although several European nations offer genuine stock and ETF trading, the product selection is primarily restricted to CFDs. Only a few fundamentals, like P/E, are included in the basic data that XTB offers. The last charge is an inactivity fee.
For customers who like forex or CFD trading and who also wish to benefit from fantastic deposit and withdrawal options combined with quick account opening, we propose XTB. Feel free to use a demo account to test it out.
FAQ
How do I put money in my XTB account?
Your XTB account can be funded via bank transfer, credit/debit card, or online wallet like PayPal or Paysafe. Bank transfers are free but take a little longer than credit card deposits, which are quicker but may incur fees in some countries. After signing into the xStation platform or your Client Office, you may start making deposits.
How long does it take to open an account at XTB?
Completing the registration procedure should take roughly 15 minutes. Your account will often be granted in less than a day after XTB gets all of your information and supporting papers.
What is the turnaround time for XTB to approve my account?
XTB will typically accept your account in less than a day after you have finished the registration form and supplied all required papers to prove your identity.
How will I find out whether my XTB account has been approved?
When your account is activated by XTB, you will receive a notification via email. To view the status of your account, log into the client office.
How much money do I need to deposit to start an XTB account?
For freshly formed accounts, XTB has no minimum deposit requirement. This implies that you can start trading with tiny sums of money.
Can I deposit to XTB with a debit card?
Yes, you can use a debit card to make deposits to your XTB trading account. Although debit card deposits are typically free, in some nations there may be a minor fee, typically 1% or less of the deposit amount.
Can I use PayPal to deposit on XTB?
If you live in the European Union, you can use PayPal to finance your XTB account. PayPal deposits are typically quick and cost-free.
Lower costs and fees?
This was covered in our post on XTB fees.
What about the minimal deposit?
We constantly update our comprehensive guide to the XTB minimum deposit.
How do you open an XTB account?
Check out our assessment of XTB account opening.
How does the trading app work?
Here is our professional opinion after reviewing the XTB trading app.
Is the quality of customer service satisfactory?
All the information you require regarding XTB customer service.
True or false?
Is XTB legal covers all the essential criteria you should consider to determine whether a broker is reliable and secure.
Free or superior?
Examining actual expenditures and determining whether XTB is truly free.
Is this broker suitable for novices?
We looked it up on Is XTB Good for Novices.
On XTB, should you purchase your silver bullets?
Check the Silver buy on XTB instructions for silver bugs.
If options trading is possible at XTB, where can I do it?
Can you trade options on XTB? covered the subject.
What is the XTB’s required minimum account balance?
See our article What is the minimum account balance at XTB for the most recent XTB account balance requirements.
Searching for XTB commission and charge information?
They were paid to us in commission and fees for XTB.
How may money be taken out of XTB?
How to Withdraw Money on XTB contains the alternatives and charges we discovered after testing it.
3 Comments