Skip to content
- Home
- /
- Broker Reviews
- /
- XTB Review 2024: Read...
XTB Review 2024: Read This Before Opening an Account
Swen Keller
- URL: https://www.xtb.com/
- Minimum Initial Deposit: $250
- Maximum Leverage: 1:30 for EU residents and 1:500 for non-UK and EU residents
- KYC: Yes
- Platform App: Desktop, Mobile, Web
- No. of Tradable Symbols: 5,500+
- Available based Currencies: EUR, GBP, USD
- Withdraw Method: Bank transfer
- Payment Method: Bank transfer, credit card, debit card, Paysafe (brand behind Skrill and Neteller)
- Trading Fees: Minimum spread of 0.00008 for EU residents, Minimum spread of 0.3 for UK residents, no commission for UK residents, minimum spread of 0.5 for non-EU and UK residents
- Headquarter: Warszawa, Mazowieckie, Poland
- Licenses: FCA, PFSA, CySEC, IFSC
- Year Founded: 2002
- Promotion: N/A
XTB Review: Our Take
XTB offers an average number of tradable instruments and is quite limited in its offerings when compared to similar brokers and CFD providers.
X Trade Brokers also has a high initial minimum deposit and confusing fee structure. The fee structure changes per country and isn’t listed on the website.
That said, all XTB subsidiaries are fully regulated, and offer negative balance protection and tools for fundamental and technical analysis.
Important Risk Warning: Investing in and/or trading CFDs, financial instruments, commodities, and other assets involves a significant level of risk. There is a possibility of losing all the funds you have deposited. Prior to engaging in any such activity, it is essential that you fully understand and acknowledge the associated risks. Please be advised that Skrumble.com does not offer investment or any other form of advice. The information provided in our review should not be construed as financial advice in any way.
An Overview of XTB
XTB Forex and CFD trading platform was founded in 2002 and is headquartered in Warszawa, Mazowieckie, Poland. XTB is publicly traded on the Warsaw Stock Exchange.
The XTB online trading platform has offices in 13 countries including the United Kingdom, Poland, Germany, France, and Chile.
As with most FX trade brokers, XTB, a trademark of XTB Group, is authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom.
That said, XTB has various subsidiaries that are regulated and authorized by various bodies. XTB SA is authorized by the Polish Financial Supervision Authority (KNF) in Poland, XTB International Limited by the Financial Services Commission in Belize, and XTB Sucursal by the Comisión Nacional del Mercado de Valores in Spain.
XTB offers its clients access to the financial markets to trade Forex, Indices, Commodities, ETFs, stocks, and CFDs on Bitcoin and other cryptocurrencies.
Currently, XTB hosts more than 850,000 clients actively using the trading platform.
Pros
- It offers a demo account
- Well regulated
- It has an economic calendar
- It offers negative balance protection
Cons
- Not available in the US
- High initial minimum deposit requirement
- Confusing fee structure
Key Features of XTB
xStation
xStation is an advanced trading platform on XTB suitable for advanced traders. xStation has an intuitive user interface that can be fully customized to suit your needs and offer you a superior trading experience.
It is a browser-based platform which means that no additional installation is needed for you to start using it.
Once you log in to your account and launch xStation, you can select if you wish to trade with your demo account or live account using the drop-down menu at the top right-hand corner of the screen.
If you have multiple accounts, you can easily switch between accounts without having to input login details.
The default view for xStation is divided into 3 modules: Chart window, Market Watch, and Terminal.
The Chart window gives you access to charts, widgets, and other technical analysis tools for individual markets. This module gives you an in-depth market analysis.
The Market Watch module is where you open and manage your trades, and customize your favorite markets to watch and observe market prices.
The Terminal is where you can manage your trades, overall balance, pending orders, cash operations, etc.
Placing a trade on xStation is easy and fast, this can be done in three ways; via the Market watch window, via the Charting deal ticket, and the three-click trade functionality on the chart.
To place a trade on xStation via the Market Watch window, do the following:
Once you have found the market you want to open a position on, click on the market’s name to open an order window
In the order window choose the transaction volume and whether or not you want to apply a Stop Loss or Take Profit Level.
Note: Some Order windows have a built-in calculator that will let you know how placing a trade will affect the pip value, daily swap points, commission, and spread in pips and monetary value.
Once the transaction volume is selected, click on the green button if you wish to buy or go long and on the red button if you wish to sell or go short.
Once this is done, your trade will be placed.
The second way to place a trade in xStation is via the Charting deal ticket, using the buy and sell buttons found in the chart. The buttons are available at the top left-hand corner of the chart.
The third method is via the three-click trade functionality on the chart.
To activate the three-click trading function of the chart, click on the ‘Place pending order on Chart’ icon at the tip of the chart of the market you wish to trade.
Once this is done, click on where you wish to trade.
Next click, where you want to place your stop-loss.
Select where your profit target is.
A new deal ticket replicating all the levels you clicked on will open.
To place the trade, click on “Buy” or “Sell”.
Tradable Symbols Available On XTB
XTB supports the trading of over 5,500 instruments across over 2,100 global markets, this includes Forex, Commodities, Indices, ETFs, etc. Below is a breakdown of the available instruments.
Forex
XTB supports 71 Forex pairs. Available FX pairs include the following: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CAD/MXN, CHF/HUF, CHF/JPY, CHFNOK, CHFPLN, CHFSEK, EURAUD, EURCAD, EURCHF, EURCNH, EURCZK, EURGBP, EURHUF, EURJPY, EURMXN, EURNOK, EURNZD, EURPLN, EURRON, EURRUB, EURSEK, EURSGD, EURTRY, EURUSD, EURZAR, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPMXN, GBPNOK, GBPNZD, GBPPLN, GBPSEK, GBPSGD, GBPUSD, GBPZAR, NOKSEK, NZDCAD, NZDCHF, NZDJPY, NZDSGD, NZDUSD, etc.
Indices
XTB supports 34 Indices. Available indices include AU200.CASH, AUS200, AUT20, BRACOMP, CH50CASH, CHN.CASH, CHNCOMP, CZKCASH, DE30, EU50, FRA40, HK.CASH, HKCOMP, IND50CASH, ITA40, JAP225, JP225, KOSP200, MEXCOMP, NED25, RUS50,SPA35, SUI20, UK100, US100, US2000, US30, US500, USDIDX, VIET30, VIX, VOLX, VSTOXX and W20.
Commodities
XTB users can trade 27 commodities on the platform. Supported commodities include Aluminum, Cocoa, BUND10Y, Cattle, Coffee Copper, Corn, Cotton, Gasoline, Hold, LeanHogs, EMISS, LSGASOIL, NATGAS, Nickel, Oil, Oil WTI, Palladium, Platinum, SCHATZ2Y, Silver, Soybean, Souoil, Sugar, Tnote, Wheat, and Zinc.
Shares
XTB supports over 2,880 Shares. Here is the number of available shares per country: Belgium (25), Denmark (30), Finland (30), France (146), Germany (151), Italy (62), Netherlands (45), Norway (50), Poland (11), Portugal (18), Spain (90), Sweden (71), Switzerland (35), United Kingdom (21), United Kingdom (244) and United States (1858).
Tradable shares on the platform include:
ANHEUSER-BUSCH INBEV SA/NV, ACKERMANS & VAN HAAREN NV, AGEAS, ARGENX SE, BARCO NV, BEFIMMO SA, BEKAERT SA, BPOST SA, COFINIMMO SA, COLRUYT SA, AMBU A/S – CLASS B, BAVARIAN NORDIC A/S, CARLSBERG A/S, CHR HANSEN HOLDING A/S, COLOPLAST A/S, DANSKE BANK A/S, DEMANT A/S DSV A/S, AGILENT TECHNOLOGIES Inc, AMERICAN AIRLINES GROUP Inc, AARON’S Inc, APPLIED OPTOELECTRONICS Inc, ADVANCE AUTO PARTS Inc, APPLE Inc, AMERICAN INTERNATIONAL GROUP Inc Apartment, APARTMENT INCOME REIT Corp, APARTMENT INVESTMENT & MANAGEMENT CO, etc.
Stock CFDs
There are also 1,940 stocks available on XTB for trading. Here is the number of Stocks available in each country: Belgium (20), Czechia (6), Denmark (25), Finland (23), France (123), Germany (113), Italy (50), Netherlands (39), Norway (31), Poland (1), Portugal (13), Spain (62), Sweden (43), Switzerland (28), United Kingdom (9), United Kingdom (203) and United States (1151).
Tradeable stock CFDs include Hyundai Motor CO-GDP, Samsung Electronics Co Ltd-GDR, AGILENT TECHNOLOGIES Inc, AMERICAN Airlines, AARON’S Inc, ADVANCE AUTO PARTS Inc, APPLE Inc, ABBVIE INC., AMERISOURCEBERGEN CORP – CLASS A, ASBURY AUTOMOTIVE GROUP INCzAIRBNB INC – CLASS A, ARBOR REALTY TRUST Inc, ABBOT Laboratories, etc.
ETF CFDs
There are about 167 ETF CFDs available for trading on XTB.
Supported ETFs include ISHARES AUTOMATION & ROBOTICS UCITS A (ACC EUR) CFD, ISHARES MSCI ALL COUNTRY ASIA EX JAPAN (DIST USD), ISHARES CORE US AGGREGATE BOND (DIST USD) CFD, ARK FINTECH INNOVATION (DIST USD), ARK GENOMIC REVOLUTION (DIST USD), ARK INNOVATION (DIST USD), ARK AUTONOMOUS TECHNOLOGY & ROBOTICS (DIST USD) CFD, ARK NEXT GENERATION INTERNET (DIST USD) CFD, VANGUARD INTERMEDIATE TERM BOND (DIST USD), VANGUARD TOTAL BOND MARKET INDEX FUND (DIST USD), VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND (DIST USD) CFD, GLOBAL X ROBOTICS AND ARTIFICIAL INTELLIGENCE (DIST USD), ISHARES MSCI EMU SMALL CAP UCITS (ACC GBP) CFD, ISHARES CORE MSCI EMU UCITS (ACC GBP) CFD, WISDOM TREE COPPER ETC (USD).
, GLOBAL X COPPER MINERS (DIST USD), VANECK GOLD MINERS (DIST USD), VANECK JUNIOR GOLD MINERS (DIST USD) CFD, SPDR GOLD SHARES (DIST USD) CFD, SPDR S&P GBL DIV ARISTOCRATS UCITS (DIST USD) CFD, VANECK MORNINGSTAR US, SUSTAINABLE WIDE MOAT UCITS (ACC EUR), ISHARES CORE HIGH DIVIDEND (DIST USD) CFD, ISHARES IBOXX $ HIGH YIELD CORPORATE BOND FUND (DIST USD), ISHARES GOLD TRUST (DIST USD) CFD, ISHARES BIOTECHNOLOGY (DIST USD), ISHARES GLOBAL CLEAN ENERGY (DIST USD), etc.
ETFs
Aside from the 167 ETF CFDs available, XTB also supports the trading of 355 ETFs.
Available ETFs include ISHARES AUTOMATION & ROBOTICS UCITS (ACC EUR), ISHARES AGEING POPULATION UCITS (ACC EUR), ISHARES MSCI WORLD SRI UCITS (ACC EUR), ISHARES MSCI EUROPE SRI UCITS (DIST EUR), BOOST NATURAL GAS 3X SHORT DAILY (ACC USD), WISDOMTREE S&P 500 3X DAILY LEVERAGED ETP (USD), ISHARES MSCI BRAZIL UCITS (ACC USD), DEUTSCHE BOERSE COMMODITIES GMBH XETRA-GOLD® BEARER NOTES ETC (EUR), etc.
XTB Review: Fees and Spreads
XTB doesn’t offer the same trading fees in all regions.
Its spreads and commissions (where applicable) change per country and continent.
There are 3 major regions supported: the United Kingdom, Europe, and non-European and UK residents.
The minimum spread for United Kingdom residents is 0.3 pips while the minimum spread for EU residents is 0.00008 pips.
Non-United Kingdom and European Union residents have to pay a minimum spread of 0.5 pips.
For both non-UK and European residents and UK clients, XTB does not charge commissions on Stocks, CFDs, Forex trading, Stock CFDs and ETF CFDs, Stocks and ETFs, and cryptocurrencies.
The standard account is also swap-free in some regions but not all financial markets are available on such accounts.
Inactivity Fees
XTB charges an inactivity fee after 12 months of inactivity and no cash deposit in the last 90 days. The inactivity fee is $10 or the equivalent in GBP or EUR and is charged monthly.
After you begin to trade again, XTB will stop charging the inactivity fee unless you stop trading again for 12 months.
Deposit Fees
XTB charges the following for depositing funds using their supported payment methods:
- UK Residents: There is a 2% fee for Skrill deposits
- EU Residents: There is no fee charged by XTB for PayPal and Skrill deposits for clients in this region
- For Non-UK/EU Residents: Clients will have to pay a 2% fee for Skrill deposits and a 1% fee for Neteller deposits
There are no fees for depositing funds via credit card, debit card, and bank transfer.
Withdrawal Fees
XTB has different withdrawal fees based on your location and the XTB subsidiary you signed up for.
- For XTB users who signed up for an account with XTB Limited (UK), the forex and CFD broker does not charge a fee for withdrawals as long as the amount is above £60, €80, or $100
- For XTB clients who created an account with XTB Limited (CY), there is no withdrawal fee charged as long as the amount requested is €100
- For users who created an account with XTB International Limited, the forex trading broker does not charge a fee for withdrawals as long as the amount requested is above $50
XTB Review: Payment Methods
X Trade Brokers supports the following payment methods for the relevant regions:
- UK Residents: Clients in the United Kingdom can deposit funds using bank transfer, credit and debit cards, and Skrill
- EU Residents: Traders in the European Union can fund their XTB trading account via bank transfers, credit and debit cards, PayPal, and Skrill
- MENA Residents: Users in the applicable region can fund their accounts via bank transfers and debit cards
- For Non-UK/EU Residents: Clients here can fund their XTB trading accounts via bank transfers, credit and debit cards, Skrill, and Neteller
- Our practical experience with this Forex broker has shown us that payments excluding bank transfers are instant and you should see it reflected in your XTB account balance immediately.
Bank transfers from the European Union and the United Kingdom are reflected in your XTB account within 1 business day. However, bank transfers from other regions take anywhere from 2 to 5 days to arrive depending on where the money is sent from.
The bank transfer time frame is entirely dependent on the bank and any intermediaries.
That said, to make a deposit, sign into your Client Office and then tap the deposit button in the xStation trading platform or mobile app.
Once you’re logged in, hit the Deposit Funds tab.
On the new page that opens, choose the trading account you want to fund and then select your preferred payment method.
XTB Review: Security
After our detailed analysis and use of this broker, we discovered that XTB is one of the largest stock exchange-listed Forex brokers in the world and it has measures targeted at the security of user funds and a secure trading environment.
XTB is authorized and regulated by the Financial Conduct Authority which means that it protects clients’ money following FCA rules and regulations.
In line with these regulations, all retail client money is held in segregated client bank accounts.
With clients’ funds held in separate accounts from company funds, if XTB goes bankrupt, clients’ funds will be returned to them and not treated as a recoverable asset by general creditors of XTB.
Client funds are also protected by the Financial Services Compensation Scheme (FSCS) in up to £85,000 per person in the event of insolvency of XTB.
Aside from compliance with regulations regarding client funds XTB also has structural and organizational security measures to keep users’ funds safe.
All connections between the XTB server and mobile apps on users’ devices are fully encrypted.
Also, funds can only be transferred to a user’s account, this means that no transfers can be made to another account with a different name or belonging to someone else.
Other available security measures include authorization by password, fingerprint, or a code for the XTB app and multi-factor authentication.
Supported Countries
XTB is available to users from several countries around the globe with offices in 11 countries including the United Kingdom, Poland, Portugal, Germany, Spain, France, etc.
That said, XTB has specialized platforms for users from different regions.
This includes XTB Ltd only for residents in the UK, XTB Cyprus for EU residents, XTB Mena for MENA residents, XTB FR for Canadian residents, and XTB International Limited for non-EU/UK residents.
XTB is not available to users in the United States, Australia, and over 35 other countries.
Restricted counties include Israel, South Korea, Turkey, Ethiopia, Uganda, Venezuela, Zimbabwe, Libya, Monaco, Panama, Vanuatu, etc.
Licenses Held by XTB
XTB Limited is authorized by the Financial Conduct Authority (FCA), the Polish Financial Supervision Authority, and the Cyprus Securities and Exchange Commission (CySEC).
XTB International Limited is authorized and regulated by the International Financial Services Commission in Belize.
Opening an XTB Account
To open an XTB account go to https://www.xtb.com.
Once there, tap on the Download App button.
This will redirect you to the Google Play Store or Apple App Store depending on your operating system.
Once it has been downloaded, launch the mobile app and tap on Start.
Tap on Open a Real Account.
On the next screen, select your country if it doesn’t automatically pick the right one.
Enter your email address and tap on Next Step.
Create your password which should have 1 uppercase letter, a number, and 8 characters.
Enter your details like first and last name, and phone number, and declare that you’re not a citizen of the United States.
Next, enter your financial details like state of employment and annual net income.
Tap on the next step and fill in your location.
Hit the Next Step button and tick the boxes if you agree with their terms.
That’s it! You’ve created an XTB trading account.
Different Types of Accounts on XTB
XTB only offers a Standard account for all regions. However, the Standard account features differ per region.
For example, the Standard account for non-UK and EU residents has a maximum leverage of 1:500 while the one for EU residents has a 1:30 maximum leverage.
The minimum spread also changes depending on your region.
Trading Experience on XTB
From our direct engagement with this forex broker, we’ve ascertained that it offers a basic and limited trading experience.
The broker only offers 1 trading platform and supports over 5,500 financial instruments.
Its proprietary trading app appears quite cluttered and may intimidate new users.
Different Platforms Used to Trade
XTB only supports its proprietary trading platform called xStation, which is available on the web, mobile, and desktop.
The trading platform is compatible with Chrome, Firefox, Safari, and Opera browsers.
It also features an economic calendar, stop loss and take profit functions, and adequate charting tools.
XTB Review: Customer Service
XTB offers multilingual customer support to users via phone, email, and live chat.
The customer support contact varies by region.
That said, you can verify if you are speaking with an XTB employee or a malicious actor by emailing XTB at uksales@xtb.com or via phone at +44 2036953085.
XTB Review: Customer Satisfaction
XTB has a user-friendly interface suitable for intermediate traders, the mobile app won the Rankia award of the Best Mobile App for Investing in 2019 & 2020.
XTB offers great customer support to users with dedicated customer support teams across different regions.
The platform has a good rating of 4.0 stars in TrustPilot.
Does XTB Offer Education?
Yes, XTB offers education via its education center and Trading Courses platform that features courses covering topics for beginners, intermediate, and advanced traders.
Is XTB Right for You?
XTB is right for intermediate traders and users who don’t mind not using popular trading platforms like TradingView, MetaTrader 4, etc.
Final Thoughts
XTB stands out for its influence in the industry and straightforward signup process.
However, the forex broker has a complex fee structure and only supports 1 trading platform.
Wondering about alternative Forex brokers? Check out our detailed City Index review for more options.
FAQ
Most frequent questions and answers
Yes, X Trade Brokers was founded in 2002 and is regulated by several governmental bodies across the globe including the UK’s Financial Conduct Authority (FCA), the Dubai Financial Services Authority, and the Polish Financial Supervision Authority.
Yes, as long as you do not reside in the United States or are not a citizen of the country.
The withdrawal time frame depends on the region. For example, bank account withdrawals take anywhere from 2 to 5 business days.
No, XTB does not accept US clients.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.
To view our privacy policy read here.
