Our Take

XTB is a pl✃atform available in the E.U., U.K., the Middle East, and multiple other areas of the world, but it is not available in the U.S. It is a solid platform with more than 1 million customers that offers some stock and ETF trading, but focuses more on foreign exchange and access to commodities markets through derivatives called contracts for differences (CFDs).

For those looking to trade more than 70 different forex currency pairs and cryptocurre⛎ncies or gain trading access to commodities markets like metals, XTB offers a solid proprietary platform with trading available directly from charts, and proprietary research, analysis, and news. 

The o🌳verall costs at XTB make it one of the lower cost options for forex tr🌳ading, as it has narrow spreads and does not charge additional fees that other platforms charge, such as for account withdrawals. XTB offers users a robust platform and grants access and leverage to traders in multiple markets, along with providing helpful tools and educational resources.

Pros & Cons

Pros Explained

• Tight dealing spreads: XTB has tight dealing spreads, and does not charge commissions for most of its products. While dealing spreads differ by market based on liquidity, XTB’s platform offers liquidity and low spreads.
• Good platforms: XTB has developed its own proprietary platforms that are available via web, desktop, and mobile apps and include news, analysis, and charting that supports direct trading.
  
• Low costs and fees: XTB has low costs overall through tight dealing spreads and a low overall fee structure that does not include large fees, such as for withdrawing funds from the account.
• Highly regarded licenses from the U.K. and E.U.: XTB is licensed to do business in many nations around the world, and licenses from the U.K. and the E.U. show the market that XTB is a reliable broker that meets strict regulatory requirements.
• Interest on unused account balances: For cash balances not being used for a position or margin, XTB will currently pay interest up to 4.5% on GBP, 2.0% on USD, and 1.0% on EUR.

Cons Explained

• Not available to U.S. clients: Although XTB is available to clients in the U.K., E.U., the Middle East, and elsewhere around the world, it is not available in the U.S. 
• MetaTrader not supported: Many forex platforms use MetaTrader as their trading platform, and XTB used to do so, but XTB now uses its own proprietary platform, xStation.
• No guaranteed stop losses: Some forex brokers provide guaranteed stop losses to protect customers in case of a large price move through a stop level, but XTB does not offer this.

Introduction

XTB was founded in Poland in 2004, initially operating as X-Trade Brokers. The company has been publicly traded on the Warsaw exchange since 2016 and has more than 1,000 employees and 1 million customers who have access to more than 5,800 trading instruments. Contracts for differences (CFDs) provide XTB clients with trading in foreign exchange, cryptocurrencies, commodities, indices, stocks, and ETFs. XTB also supports direct stock and ETF trading.

The company expanded to the Czech Republic in 2007, opened foreign branches in Slovakia, Spain, Romania, and Germany in 2008, rebranded itself to XTB Online Trading and established its own res𒁏earch department in 2009, and created its first proprietary trading program in 2013🌳, with a mobile version following in 2014.

XTB’s xStation 5 platform was launched in 2016, the company’s first non-European offices were opened in Chile and Belize in 2017, and stock and ETF trading was added in 2018. XTB received a license ꧃from the Dubai Financial Services Authority (DFSA) in 2021. XTB is also regulated by the U.K. CFA and the CySEC in  Cyprus for the E.U. Both are highly regarded licensing agencies indicative of a strong brokerage company.

XTB’s primary focus is on the U.K. and European Union countries, but it also has subsidiaries that allow access to XTB from other areas of the world. However, the broker does not accept accounts from Japan, Australia, the U.S., or India, among other countries. The company has more than doubled its customer base since 2022. 

Usability

XTB systems, including getting up and running, work well and are easy to use. Account opening is basically an automated process, and accounts can be quickly opened, assuming the ID verification goes smoothly. From there, the platform is intuitive and easy to navigate, regardless of the platform selected—web version, desktop version, or mobileꩵ app.

Trade Experience

Trading on XTB platforms is easy and intuitive. Unlike ma♋ny of the online forex brokers that offer third-party applications, most commonly MetaTrader 4 and 5, XTB has created its own proprietary platform, called xStation 5. Although XTB supports APIs that allow traders to incorporate algorithmic trading and other tools, it does not allow some popular third-party apps, including Autochartist, Trading Central, and TipRanks.

Desktop Trade Experience

The desktop trading platform is easy to use and has some nice features, including trading directly from the chart. A feature called Trader’s Calculator shows the value of a pip on a trader's desired trades, and will also help calculate stop and take-profit levels when given a percentage amount for the profit or loss. As you would expect, it is easy to see your overall positions and orders, as well as current purchasing power, and execution is fast. You can access FAQs and customer support directly from the platform, but traders are unable to create their own indicators on the xStation 5 platform.

Mobile Trade Experience

xStation Mobile is easy to use, intuitive, and very similar to xStation 5, with some changes made to the interface because of the smaller screen. Navigation is straightforward and functionality includes the ability to trade from charts, see heat maps a✤nd r🅷elative strength analysis, and use a trading calculator to ensure proper trading size and profit/loss levels to control risk. As with the desktop version, the news feed, along with position and purchasing power, is presented in real time.

Regulation and Security

XTB has been making progress i🔜n its online brokerage platform in the U.K. and E.U., and this is in part due to it being a public company that segregates its customer accounts. Further, XTB has highly regarded licenses from the CySEC and U.K. CFA. XTB is also regulated by the International Finacial Services Commission in Belize and the Dubai Financial Services Authority (DFSA). 

These licenses, along with being publicly traded and subject to regulatory scrutiny and strict policies about segregating customer accounts, have provided XTB with the confidence of the market, as evidenced by its ☂strong account growth. In addition, XTB uses dual authentication for its platform access to provide what i🧔s now an industry-standard level of account security.

Another feature of XTB accounts is protection for negative balance accounts, which ensures that traders🃏 will not be subject to losses in excess of the money they deposit in the accounts.

Range of Offerings

The range of actual assets you can trade on XTB is limited to certain equities and ETFs, but traders on XTB have access to trade multiple other markets in the form of contract for differences (CFDs) transactions. These are derivative contracts that change in value along with the market and settle for ▨the difference in price from purchase to sale without having to purchase the actual underlying asset. Typically, CFDs are available with leverage that can be 1:30 for retail accounts ❀and 1:200 or more for professional and institutional accounts.

Through CFDs, traders on the XTB platform can trade 71 currency pairs, indices, and commodities, including gold, oil, and many other markets. Of the roughly 5,800 markets available to trade on XTB, more than 60% are stocks and ETFs, with the remainder CFDs. The CFDs break down into 71 currency pairs, 32൲ indices, 27 commodities, 2,006 stock CFDs, and 171 ETF CFDs.

Order Types

XTB offers just market orders, limit orders, and stop orders. Further, XTB supports 澳洲幸运5官方开奖结果体彩网:trailing stops, and you can incorporate take-profit and stop-loss orders, including trailing stops when making a purchase or sale. The xStation 5 platform does not provide more granular order entry, such as sophisticated 澳洲幸运5官方开奖结果体彩网:conditional orders or orders that track fundamental or technical data. To accomplish this type of order granularity, traders can use XTB APIs in conjunction with other software. XTB does not offer guaranteed stop losses, wౠhich🍰 some competing forex brokers offer.

Trading Technology

XTB's trading technology is pretty solid. The company provides fast execution and low spreads, with an average spread in EUR/USD of just 0.6 pips. In addition, XTB supports APIs that allow algorithmic trading and the use of trading bots. On actual stocks/ETFs, it also supports fractional shares, but XTB does not offer tax accounting tools.

XTB does not provide tools to directly support backtesting trading strategies, but t🦩raders can use APIs in conjunction with other third-party applications to help backtest strategies and perform other analyses, similar to the process for incorporating algorithmic trading. XTB also offers a trading journal and lets new users have a demo account to try the system before committing capital.

Cost

XTB does not charge minimum deposits or fees for deposits, although some banks or credit card♛ companies may charge ꦏtheir own fees. There are also no charges for withdrawing money from the account if the transfer is for more than $50. There are only inactivity fees on accounts with no deposits or trading activity in 365 days.

Stocks and ETFs are commission-free until EUR 100,000 in trading volume, and then there is a 0.2% commission. There is also a currency conversion fee of 0.5%, and trades must be at least EUR 10.

For CFDs, there are no direct commissions. The cost comes in the form of the de⛦aling spr⛄ead, which differs by product and liquidity. The spread currently listed for EUR/USD is 0.9 pips.

There are also three different levels of accounts, which are broken down into standard retail accoun꧟ts available to all:

• The premium plan requires a 1,000 GBP minimum balance.
• The premium plus accounts require a minimum balance of 5,000 GBP.

All account holders get a personal account manager, a beginner's class, trading clubs, and online educational material, while premium accounts also have access to SMS trade alerts, WhatsApp trade alerts, a two-hour one-on-one training session, and analytical reports.

In addition to all of this, premium plus accounts also qualify for a market analyst consultation, priority access to the trading club, cashback rebates or discounts based on traveling volume and location, and premium educational content.

There are differences between the various jurisdictions XTB trades in regarding which programs are available; for instance, U.K. customers can earn discounts but not cashback rebates, and accounts opened through the company’s Belize license are different, too, so you need to invꦺestigate by location/entity for the account.

Costs Overview

Account and Research Amenities

For a broker focusing on CFDs, as opposed to exchange-regulated markets, XTB offers customers a decent set of research, news, and other account amenities. This includes proprietary re✤search and bett💜er-than-average educational materials. Further, XTB recently launched a social platform to match other brokers’ efforts.

Forex Screener

XTB offers a heat map that can be set to forex, and this will show the base currency in the middle of the screen, with weaker or stronger currencies relative to the base currency on the left in red or on the right in green, respectively. So it is not a screener, but it does show the relative strength of the base currency against different pairs. There are also top movers functions that show which markets have moved the mo💯st, as well as a market sentiment tool that shows how XTB customers are positioned in various forex markets.

Tools and Calculators

XTB monitors your account balance, positions, margin, and remaining buying power/leverage in real time. In addition, XTB offers a trader's calculator accessible from the open ticket window. When opening a currency pair, the trader's calculator shows the pip value of the position, so the trader knows how much they can gain or lose on the position per pip. 

The margin and spread to open a position are also provided, as well as any daily swap values for positions that will be held overnight. The trader's calculator will also help a trader determine the price level and pips for a specific percentage move that the trader sets.

Charting

Charting on XTB includes the ability to place and edit orders directly on the chart. The desktop version supports 39 charting indicators and studies and 32 drawing tools. Multip🐼le chart formats can be used to conduct trades directly from charts and can be saved. On mobile, 14 indicators are available, plus drawing tools and trades can be executed directly from charts.

News

XTB offers an extensive calendar that can be filtered by country and the importan♊ce of data release. There is also a news tab that has a continuous feed of breaking news, trading ideas, and technical and fundamental analysis that can be filtered so traders can get the information they want for the markets they trade. There is also a news audio feed available.

Third-Party Research

Unlike many forex brokers, XTB provides its own reseཧarch and does not offer some of the more common third-party apps, such as Autochartist, Trading Central, or TipRanks. XTB’s research foc💙uses on actionable and tradeable ideas and strategies.

Social and Copy Trading Capabilities

XTB added XTB Social to its platform in March 2024. The feature allows users to receive trade alerts from select traders and allows clients to receive portfolio insights and statistics on the trades they observe on XTB Social.

Funding Methods

Funding your XTB account is easy. You can do so by bank transfer, credit or debit card, Paypal, and Paysafe (formerly Skrill). XTB does not charge for funding an account or withdrawing funds of $50 or more, although some banking or credit card companies may charge their own fees for these transfers.

Portfolio Analysis

There are not many portfolio analysis tools on XTB, although there is real-time position and account tracking, and the trader🐓 calculator helps traders determine the proper size and risk of positi𝔉ons. Some analysis tools also have top movers functions that show which markets have moved the most, as well as a market sentiment tool that shows how XTB customers are positioned in various forex markets.

Education

Educational offerings on XTB are good. The company delivers educational content via articles, videos, webinars, live events, and a glossary. The educational content is designed well and covers beginning and advanced concepts. There is a beginner's guide to trading, a trading strategies series, a guide on how to create a stock portfolio, and even a section of lessons on developing a trading mindset. There is enough content to help users understand the markets and how to trade them on the XTB platform.

Customer Service

Customer service at XTB is pretty good, with the company assigning a manager to each account, specific to the country or trading area, to assist them with relevant a🎉ccount assistance. Higher-level accounts receive higher levels of support. But for all users, customer service is available 24/5 and can be✃ reached by email, phone, and live chat. 

Support chat can be launched directly from trading platforms, and the phone numbers are easy to find. Reviews on Trustpilot are mixed, with a 3.5/5 star rating; 57% of the ratings were 5, 17% were 4, but 19% of ratings were 1, with some of the complaints about customer service, including some instances where customers complained about not being able to easily withdraw their funds from the platform.

Transparency

In our review, XTB was pretty transparent in its information, but it was not always easy to find. The website seemed to direct customers to the correct platform based on where they live, as U.S. visitors are informed that they can’t open an account. Pricing of the various markets is clearly listed, the fee for equity and ETF trading is clear, and all product spreads are list💟ed for CFD trading. 

The XTB website does outline how customer accounts are segregated from the company’s operating accounts and the various regulators it is subject to. However, there were some instances where bringing up content resulted in an unavoidable fullܫ-screen prompt to open ♛an account, which did not allow us to view the desired content.

Available Account Types

XTB appears to only offer a standard account, but offerings are different for U.K. residents, E.U. residents, Middle East and North Africa residents, and customers not from any of these areas.

The Bottom Line

XTB is a good platform for those outside the U.𝐆S. who want access to trading forex and other commodities with additional trading leverage, and at a low overall cost because of tight dealing spreads and very few fees. 

The platform is available via web, desktop, and mobile versions. The proprietary platforms include the ability to trade directly from charts and helpful tools to help traders, such as heat maps and large marke▨t movers. There is also news, proprietary analysis, helpful educational content, and even trading calculators to help traders manage risk.

Compare XTB Online 𒁃Trading to Similar Forex Brokers

How We Chose the Best Brokers for Forex Trading

Our commitment to providing unbiased, comprehensive reviews of forex brokers is rooted in extensive research and expert analysis. We evaluated 18 forex brokers based on rigorous criteria, focusing on key aspects such as regulatory oversight, costs, trading experience, and available 💫offerings. Our methodoꦰlogy ensures that our recommendations are based on reliable data and a thorough understanding of the industry.

To gather data, we sent a questionnaire to each of the 18 brokers, covering multiple areas critical to a forex trader's experience. Our researchers and editors verified the responses and supplemented the data with additional online research and direct communication with each broker. This research was conducted between May 13 and July 30, 2024, ensuring that our evaluations reflect current information.

Our proprietary scoring model evaluated each broker across 11 major categories and 73 weighted criteria, plus an additional 15 non-weighted criteria. The overall ratings are a weighted average of the weighted criteria, ensuring a balanced and fair assessment🐓.

Some brokers also demonstrated their platforms live via videoconferencing, and our experts conducted hands-on testing with live accounts to further validate the platforms' functionality and user experience. This comprehensive approach allows us to present an unbiased, detailed review of today's best forex brokers.

For more information, read our full 澳洲幸运5官方开奖结果体彩网:methodology explanation.