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In 2002, XTB was established in Poland as X-Trade and became one of the biggest publicly-owned brokers in all of Europe. The company has it’s base of operations in London and faces regulatory standards from the UK’s Financial Conduct Authority (or FCA) in addition to other financial regulatory bodies in Europe like BaFin, KNF, and CMB. Now with over fifteen years of operational history in the rearview mirror, many regard XTB as among the most credible and reliable forex brokerage companies in the online trading world.
Oversight from financial regulators gives you as a trader some confidence that the use of their money with a broker will remain safe and secure. And as a regulated brokerage company under the FCA, XTB trader funds are protected under the Financial Services Compensation Scheme. This means that if the company ever suffers insolvency, then its clients can claim up to 50,000 British pounds for compensation.
In an effort to fully support their clients, XTB makes their support team available for help five days a week (Sunday to Friday night) around the clock. They also have localized customer support in a dozen countries around the world. They deliver high-quality support services and give their clients efficient, reliable platforms on which to trade.
Additionally, they primarily focus on providing operations with full transparency regarding the spreads and pip values they offer. In fact, others have recognized XTB and the world-class services they offer to traders with several well-deserved awards over the past several years.
XTB’s Traders Academy
As a trader, you get a variety of tools and features at XTB designed to help you trade successfully. Trading articles, courses, and video tutorials are geared to give you the information you need to increase your trading skills whether you’re a newbie or professional.
XTB offers a lot to help educate traders. You’ll find material on candlestick and price patterns in addition to Elliot Wave theory, trading breakout lessons, and more in their technical and fundamental analysis section.
Other sections also provide advanced educational articles on managing your money while market psychology covers topics such as trading through a drawdown, developing confidence in the markets, overcoming fear, key lessons to learn by reading Market Wizards, and more.
You’ll also get access to tutorials on the xStation 5 and MT4 platforms to go along with the intro material on forex market trading, risk management, and utilizing technical and fundamental analysis. Some of the more advanced material involves introducing traders to CFDs.
Furthermore, XTB provides almost daily live webinars that cover basic and more advanced material. One thing you won’t find however, surprisingly, is a question and answer section which traders often find useful on broker websites. Nor does XTB have an economic calendar or a glossary for you to peruse.
X-Trade’s Trading Platforms
Customers of XTB can use two main trading platform types: MetaTrader 4 (MT4) and the xStation 5. The MetaTrader 4 platform, which comes with a variety of trading tools, is the most popular of its kind in the online trading business world.
It can also execute automated trades through the use of expert advisors. You can get access to MT4 as a trading app and install it on mobile devices like tablets and smartphones for trading on the go.
For those who want to make use of a web browser, the xStation5 trading platform is the way to go. As an award winning application, this trading platform enjoys recognition for its super efficiency with regard to quick trade execution times. It has an average execution time of 85 milliseconds.
It also contains several popular trading features like advanced charting, trader statistics, trading calculators, and an equity screener. And like MetaTrater 4, it comes with its own mobile-friendly version that you can install onto your mobile device.
Types of XTB Accounts
In order to address the various needs of those in the trading world, XTB offers you three different kinds of trading accounts: basic, standard, and pro. Here’s a short rundown on each:
- Basic accounts require a minimum deposit of 250 U.S. dollars/Euros/British pounds upon registration. You enjoy fixed spreads with instant trade execution and guaranteed stop losses. You also have access to a personal account manager assigned to you when you sign up.
- Standard accounts also require a minimum of 250 U.S. dollars/Euros/British pounds deposited initially. But with a standard account, you get the benefit of floating spreads, market execution, and executing automatic trades along with the use of a personal account manager.
- For 250 U.S. dollars/Euros/British pounds minimum, you can open a pro account and take advantage of market spread and execution along with the perks of automated trading and a personal account manager. But with this type of account, commissions are applicable.
X-Trade’s Trading Platform Software
XTB offers support for the MetaTrader 4 platform in addition to making apps for the most prolific mobile devices available. So matter what kind of trader you are, you can work with X-Trade. On the site, you get access to over 50 pairs of currency, stock indices, commodities, ETFs, and other trading assets.
The site also offers a variety of technical indicators, real-time charts, and analytical tools to help you with trading. This includes support for web-based trading through their own trading platform, xStation 5, as well. They’ve fully customized it with advanced charting tools and abilities with price feeds in real-time.
Deposits & Withdrawals with XTB
As mentioned above, you must deposit a minimum of 250 U.S. dollars, Euros, or British pounds to open up an account. After making the first deposit, you no longer have a minimum deposit imposed on you. The most leverage for all of the types of account available with X-Trade is 200:1. Keep in mind that the higher the leverage you can get, the higher you potentially risk.
Deposit fees vary depending on the payment method used and the currency you fund your account with. You can use bank wire transfers, credit cards, or e-wallet accounts to fund your XTB brokerage account.
You can freely deposit through a bank wire transfer with any of the accepted currency. Maestro and Visa credit cards charge a rate of 2% if you deposit U.S. dollars, but depositing Euros or British pounds is free of any charge.
Through e-wallets, you can deposit in all accepted currencies. Paypal and Paysafe (aka Skrill) charges 2% of the total deposited amount while Neteller charges 4%.
As far as withdrawals go, those in British pounds or Hungarian Forint can finish processing within the same day as long as you make your request before 1 p.m. GMT. If you make it afterward, then it’ll get processed the following business day. For Euros withdrawals, requests also process on the next business day if requests are in before 1 p.m GMT whereas they’ll take two business days to process afterward. U.S. dollar withdrawal requests will process within three business days.
X-Trade Customer Support, Incentives & Other Services
X-Trade’s website has multilingual capabilities and its in-person customer support caters to English, Portuguese, and Chinese speakers. You can access the customer support service through telephone, email, and live chat. The telephone support extends to 17 countries (mostly Eastern Europe and the European Union).
XTB traders also get to take advantage of trading incentives thanks to a loyalty award program. This program offers you a cash bonus if you refer a friend, in addition to giving you cash back on all your trades.
Along with the trading academy section and the site’s security features, X-Trade also gives you access to its market news section located on Tradebeat, the breaking news portal. This way, you’ll have a sizable selection of relevant market news that can expose to great trading opportunities for you to jump on.
Finally, you can enjoy the site’s live market commentary and the complete financial calendar that covers 50+ currency pairs in spot forex. And X-Trade’s CFD trading features includes 20+ indices worldwide that offer high liquidity and low spreads.
We give XTB forex broker a thumbs up. In fact, the only major disadvantages to you are the lack of social trading availability and customer support access for all seven days of the week.
Because of the different accounts created to give XTB the ability to serve traders at all levels, this broker makes a very good case for itself and should be on your list of suitable forex trading companies to partner with. You can give it a test by signing up for a demo account and trying them out for free today.
- Multiple accounts from which to choose;
- Credible, regulated brokerage company overseen by multiple watchdog agencies;
- Award-winning trading platform and plenty of educational material no matter your level of experience;
- Low minimum deposit amount;
- Funds remain separate for added security and fraud prevention;
- Really tight spreads and lightning quick trade execution;
- Localized support in multiple languages;
- Can trade on either the MT4 or XTB’s own xStation 5 platform;
- Can choose between using their app to install on your mobile device for mobile trading;
- Wide variety of assets with minimal order slippage;
- Cash back and refer-a-friend promotional bonus offers.
- No social trading features
- No 24/7 customer support
7 Binary Options review: XTB: 4 stars