XTB Review 2024

Trust

XTB Regulators

• XTB Limited (UK) is authorized and regulated by The UK Financial Conduct Authority (FCA), firm reference number 522157. The FCA covers clients in the United Kingdom. I rate the UK FCA as a Tier-1 regulator.
• XTB Limited (CY) is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), license Number 169/12. CySEC covers clients in the European Economic Area (EEA). We rate CySEC as a Tier-1 regulator.
• XTB S.A. German Branch is registered with the Federal Financial Supervisory Authority (BaFin), BaFin-ID:10121520. We rate BaFin as a Tier-1 regulator.
• XTB S.A. is authorized and regulated by Comisión Nacional del Mercado de Valores (CNMV), official registration number 40. We rate CNMV as a Tier-1 regulator.
• X-Trade Brokers DM SA is authorized and regulated by the Polish Komisja Nadzoru Finansowego (KNF). We rate KNF as a Tier-1 regulator.
• XTB International Limited is authorized and regulated by the International Financial Services Commission (IFSC) in Belize, License number 000302/185. We rate IFSC as a Tier-3 regulator.

Why is It Important to Know Where Your Broker Subsidiary (Entity) is Regulated?

In order to serve clients worldwide, brokers must have multiple regional entities. The level of client protection guaranteed by regional regulators varies widely. Here are some of the key features to check on at your broker`s regional entity:

• Segregation of client funds. Segregating client funds from the operating capital of a broker prevents misuse, ensuring that traders’ funds can not be used for operational expenses or speculative investments. At XTB, all client funds are held in segregated accounts away from the company’s funds.
• Negative balance protection. This is a guarantee that clients cannot lose more than their account balance, even if the market unexpectedly makes a massive move or gaps. All XTB entities provide negative balance protection with the exception of the Belize entity.
• Compensation scheme. A compensation scheme protects client funds in the unlikely event that the broker becomes insolvent. UK entity’s clients benefit from account insurance of up to £85,000 via the Financial Services Compensation Scheme (FSCS).
• Maximum leverage. Limiting leverage controls the level of risk traders can take on. The higher the leverage, the higher the potential profits and losses. At the UK entity of XTB, the maximum leverage is 1:30 for a Standard Account and 1:200 for a Professional Account.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we evaluate the broker’s longevity in the industry, the company’s size, and its transparency.

XTB dates back to 2002, marking it as a highly experienced CFD broker with a solid operating history. According to the broker’s LinkedIn page, the company has 1,001-5,000 employees, reflecting a large brokerage firm.

In my research, XTB showed high transparency in its regulatory status, listing its regulators in the footer of the website page. The website breaks down trading costs clearly on the Terms and Fees page. To view the nitty-gritty details, traders can find the Terms of Business on the Legal Documents page.

Is XTB Safe to Trade With?

To summarize, I rate XTB as trustworthy and stable due to the following:

• Regulated by five top-tier regulators
• Has 22-year operating history
• All entities segregate funds
• Publicly traded company with a market cap over $1.5B

Fees

XTB Trading Fees

XTB Spreads

I tested the spreads at XTB across various markets during the London open and after the New York open on 18 March 2024. At these times, the market is typically highly liquid with the tightest spreads.

My tests showed that spreads are especially competitive in EUR/USD and gold but that there is room for improvement in the spreads for CFDs on shares.

XTB Swap Fees

In the table below, you can see an example of the swap fees at XTB. Swaps represent the fees charged (or credit earned) for holding a position overnight.

The values listed below are for one full contract (100,000 units) of the base currency.

My live tests showed that swap fees at XTB are average for the industry.

XTB Non-Trading Fees

XTB charges an inactivity fee of 10 EUR monthly if you haven’t traded in 365 days or deposited in 90 days.

Are XTB Fees Competitive?

I rate the fees at XTB as competitive for the following reasons:

• Tight spreads in popular instruments
• Fair overnight fees
• Minimal withdrawal fees

Platforms and Tools

XTB Web Platform

General Ease of Use

In this review, I tested the xStation 5 platform, which has a clean look and feel and is beginner-friendly. The layout is customizable, with various options to suit your trading style. To cater to the global clientele, it is available in 24 languages.

Key Features

xStation 5 has popular features like watchlists, alerts, 1-click trading, trading from the chart, and direct hedging.

• Alerts. Price alerts on xStation 5 can automatically inform you when significant price levels are reached without having to spend all day in front of the monitor.
• Watchlists. Traders can set up a list of their favorite instruments and follow live quotes in a market watch panel.
• One-click trading. This feature allows traders to execute orders with a single click and no secondary confirmation. Placing a trade with a single click saves time and is crucial for short-term traders.
• Trading from the chart. xStation also allows users the convenience of trading directly from the chart.
• Trading statistics. The platform has a dedicated area providing live statistics on your trading performance.
• Direct hedging. This means you can simultaneously have long and short positions in the same instrument. It can be used as a way of managing risk during periods of high volatility.

It goes beyond the standard broker platform with features like heatmaps, scanners, and a trading statistics tool.

Charts

The xStation platform also has robust charting capabilities.

• 5 Chart Types: Candlestick, Line, OHLC, HLC and Heiken Ashi.
• 9 Time Frames: from 1 Minute to 1 Month.
• 47 Indicators: from Alligator to ZigZag.
• 20 Drawing Tools: including classics such as Fibonacci, Gann, and Pitchfork tools.

The tiled layout feature for charts is great for traders who want to view multiple markets (or multiple timeframes of the same instrument) at once.

Orders

The xStation 5 platform delivers a standard range of order types. Available order types include market, limit, and stop loss.

• Market Order allows to buy or sell an instrument at the best available price.
• Limit Order allows to buy or sell an instrument at a specified price or better.
• Stop-Loss Order allows to buy or sell an instrument triggered when the market price reaches a specified level.

It’s possible to set an expiry date for your pending orders, if you only want to keep them open for a limited time. Trailing stop-loss orders are not currently available via the xStation platform.

Trade History

The panel at the bottom of the screen shows your open positions and pending orders.

The alert feature is a great way to track when an instrument has reached a key price level, enabling you to monitor multiple markets at once.

Trading Performance Statistics

xStation 5 provides live statistics on your trading performance, updated in real time. The statistics tool can serve as a trading journal where you can identify your strengths and weaknesses.

The platform records the following statistics to help you better understand and improve your trading performance:

• Your profit generated for the chosen period.
• Your average result per trade.
• The total number of placed trades.
• The maximum drawdown (drop in equity).
• Your profitable and losing trades.
• Your profitable and losing trade sequence.
• The success rate of all your trades.

My Key Takeaways After Testing XTB on xStation 5

xStation 5 manages to be uncluttered and user-friendly while also offering an excellent range of features. I found it easy to navigate and appreciated the advanced resources like heatmaps, scanners, hotkeys, and the performance statistics tool. This is clearly an above-average platform. My only quibble is the lack of trailing-stop loss orders.

XTB Mobile App

XTB’s xStation mobile trading app is available for Android, Windows, and iOS devices in 24 languages. All the same instruments are available in the app as the web platform, meaning that you can access thousands of CFDs and real shares from the palm of your hand.

General Ease of Use

I rate the xStation app as well-designed and intuitive. Key features like 1-click trading and trading from the chart are available, allowing you to be nimble in the markets even when you are on the move.

Charts

Charting with the app is solid, with 4 chart types, 9 time frames, 13 technical indicators, and 6 drawing tools.

Orders

The same order types as the web platform are available via mobile: market orders, limit orders, and stop loss orders. You can set an expiration date and time for pending orders.

My Key Takeaways After Testing the XTB Mobile App

This is a robust and feature-rich app that can serve most of your trading needs while you are away from your workstation. The design is modern and well-thought-out, making it a pleasure to use. I liked that the app includes features like the ‘Discover’ tab, which gives you a summary of trending markets and breaking news. For enhanced security, traders can set up a four-digit passcode to access the app.

XTB Order Execution Model

XTB Limited sends all trades automatically to its parent company X-Trade Brokers DM – their liquidity provider. Trades are executed automatically without any manual intervention from any dealing desk.

Tradable Instruments

We rated XTB as especially strong in the areas of CFDs on commodities, shares, and indices.

What are CFDs?

A Contract for Difference (CFD) is an agreement specifying that the buyer must pay the seller the difference between the current value of an asset and its value at the time the contract was initiated. Like futures and other derivative financial instruments, CFDs allow traders to speculate on price movements without owning the underlying asset.

What Can You Trade with XTB?

In the tables below, you can see a selection highlighting the variety of instruments available at XTB:

My Key Takeaways After Exploring XTB Tradable Instruments

XTB offers a strong variety of tradable CFD instruments, which allow traders the room to experiment with diverse global assets. I liked that you can also trade real stocks from within the same platform, with stocks ranging from US exchanges to those of smaller countries like Finland or Portugal.

Customer Support

XTB Customer Support Test

Support is a key component of a broker’s offering – whether you are a new trader looking for guidance on how to use the platform or an experienced trader who needs help fast to exit their positions in the event of a technical glitch.

UK clients of XTB have access to 24/5 support in 20 languages. An important bonus to mention is that XTB clients are assigned a dedicated account manager who provides a personalized level of service.

When using the chat feature, a bot answers you first, but you are passed on to a live operator if its answer is insufficient. In my tests, I sometimes had to wait a couple of minutes to reach an operator, but after that first contact was made, the chat was quick to respond to.

When testing phone support, a knowledgeable representative answered my calls almost immediately. I tested customer support with a range of questions from easy to difficult and had a good experience overall.

Deposit and Withdrawal

XTB Deposit Methods

While XTB does not charge any fees for deposits, your bank may apply its own fees.

XTB Withdrawal Methods

Withdrawals are initiated fast at XTB. They are typically processed the same day if requested before 1:00 p.m. Requests after that time are processed the next day.

Account Types and Terms

XTB Account Opening Process

To open an account with the UK entity of XTB, prospective clients must complete an application covering the following parts:

• Contact and Personal Details: Name, phone, address, date of birth, gender, nationality, tax ID.
• Financial Details: Annual income, liquid net worth, occupation, industry, source of funds, anticipated investment.
• Level of Trading Experience: Trading activity, trading experience volume of trades, brief questionnaire.

XTB Account Types and their Benefits

New XTB clients are automatically classified as retail unless they decide to upgrade to an elected professional status.

Professional Account

In order to quality as a professional client, you must meet two out of the three criteria below:

• You’ve carried out a minimum of 10 significantly sized transactions at a frequency of 10 per quarter over the previous four quarters.
• The size of your investment portfolio, including cash deposits and financial instruments, exceeds €500,000.
• You’ve worked (or work) in the financial sector for at least one year in a professional position.

Demo Account

XTB offers a demo account that can be used via xStation 5 and the XTB mobile app. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.

The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo account, they can easily switch to a live version.

Islamic Account

XTB offers a swap-free Islamic account that adheres to the principles of Sharia law. Islamic accounts are only available under XTB International for clients from certain countries (UAE, Saudi Arabia, Kuwait, Oman, Qatar, Jordan, Bahrain, Lebanon, Egypt, Algeria, Morocco, Tunisia, and Malaysia).

What is CFD leverage?

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

In the FCA-regulated UK entity of XTB, the maximum leverage for an Individual account is 1:30. This means that with an account of $1,000, you can control up to $30,000 worth of positions in the market.

Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders should keep in mind that it can amplify both their profits and their losses.

Maximum Leverage by Asset Class

Available leverage differs according to the asset class, with the most leverage available for CFDs on forex and the least for crypto pairs.

*Crypto CFDs are only available for professional clients in the UK.

XTB Supported Countries

XTB accepts clients from the majority of countries globally. However, like most CFD brokers, XTB does not take clients from the United States or FATF (Financial Action Task Force) blacklisted countries, North Korea and Iran.

Research

XTB’s seasoned research team provides news and analysis via the website and the xStation platform. Stories cover breaking news, in-depth market analysis, and specific trade ideas. These materials can cater to both beginners and advanced traders.

In addition, the platform offers a variety of tools to assist with market research:

• Market sentiment, which displays the percentage of XTB traders buying or selling specific instruments.
• Top movers, revealing which instruments are experiencing the most significant gains or losses.
• Stock & ETF scanners, allowing users to filter stocks and ETFs based on a range of criteria such as dividend yield or 6-month return.
• Heatmap tool – a real-time market map illustrating price percentage change and other factors.

My Takeaways from Exploring XTB Research Content

XTB checks all the boxes when it comes to research. Clients can stay on top of major news stories and get practical insights from reports written by experienced traders. Tools like the scanner, heatmap, and top-mover watchlists help traders come up with their own trading ideas.

Education

The XTB website features a Knowledge Base section with articles ranging from technical analysis and trading strategies to xStation 5 platform tutorials. The material is helpful to beginners, and even seasoned traders will be able to pick up some valuable ideas.

XTB also offers a great range of ebooks covering practical topics like “How to Trade the DAX” and a Technical Analysis guide. I appreciate that this material goes beyond the theoretical and includes hands-on, practical advice on trading the market.

Within the xStation 5 platform, there are a variety of educational courses, including video lessons from seasoned industry experts like Steve Ward and Tom Hougaard. Live webinar events for existing clients complement the written and video material provided by XTB.

The Bottom Line

With 22 years of experience, multiple regulated entities, and its status as a publicly traded company valued at over $1.5B, XTB earned a high trust and stability rating.

The Polish brokerage powerhouse provides an attractive offering to traders of all levels of experience. I am especially impressed by the innovative features of the xStation 5 platform, like the heatmap, scanners, and trade statistics tool.

XTB’s low fees and tight spreads make it easier for clients to achieve trading success. Sometimes brokers offer low fees, but they cut corners in other areas. This is not the case with XTB, and a very high standard is maintained in other areas like customer support, research, and education.

If you are looking for a strong all-around broker who can nurture your development as a trader, XTB might be a good fit.

FAQ