XTB

About company:

XTB or X-Trade Brokers is a leading Forex broker in Central and Eastern Europe providing online trading of over 1500 instruments including Forex, Indices, Stocks, Commodities and ETFs on two trading platforms - its own xStation and the popular MetaTrader 4. Has offices in more than 15 countries in Europe, South America and Asia.

 

Behind the XTB brand is XTB Limited, a UK subsidiary of XTB operated by the FCA. Its other subsidiaries are regulated by the Polish Financial Supervision Commission (KNF).

 

UK broker XTB must adhere to strict requirements and regulations.

 

For example, in order to obtain a license from a British financial controller, brokers need to provide proof of financial stability: they must have a minimum of 730,000 euros to legally conduct their business.

 

The FCA regulation also provides an additional guarantee for clients' funds as they are subject to the Financial Services Compensation Scheme (FSCS), which has a maximum compensation of £ 50,000 per person in the event a broker becomes insolvent.

 

Moreover, in May 2016, XTB Dom Maklerski listed its shares on the Warsaw Stock Exchange (WSE: XTB). A year later, the appraised value of XTB fell below $ 200 million. This was due to the new rules of the Polish regulator, which set the maximum leverage to 1:25.

 

Trading conditions

The company has three accounts: Basic, Standard and Pro. The Basic account is suitable for beginners as well as for casual traders who prefer fixed spreads, while the Standard and Pro accounts provide variable spreads. Pro is designed for advanced traders, offering STP execution.

 

Traders can trade a wide range of assets, including 50 major, minor and exotic currency pairs, over 20 Asian, American and European stock indices, over 20 precious and base metals, energy and agricultural commodities, 200 American, English, Czech, French, German, Italian, Portuguese and Spanish stocks; and a wide range of ETFs.

 

Minimum initial deposit

XTB requires $ 250 as an initial deposit to open a live account.

 

Average spreads and commissions

This broker offers both fixed and variable spreads. Fixed rates are available on a basic account and are 2.0 pips on EUR / USD, which is the industry average. As for the variable spreads, the ones listed on the Pro account are 0.3 pips in EUR / USD, but there is a fee of 2.5 GBP / 3.5 EUR / 4 USD / 1400 HUF per lot (with each side). No commission is charged on the main and standard accounts.

 

Maximum leverage

The maximum leverage depends on the instrument being traded:

 

Forex: up to 1: 200; indexes: up to 1: 133; goods: up to 1:66; stocks and ETFs: up to 1:10.

 

In general, a maximum leverage of 1: 200 is considered average for the market, however some traders may want to trade with a lot of leverage. In our rating you can find brokers that offer leverage up to 1: 1000.

 

Trading platforms

XTB clients are offered a choice of two trading platforms: their own xStation and MetaTrader 4, available in both desktop, web and mobile versions.

 

XStation is a user-friendly, fully customizable platform that comes with a calculator (instantly identifying a trader's potential profit or loss, allowing for more informed trading decisions). Traders will probably appreciate two more features of the platform: one-click trading and the ability to work directly with charts.

 

In addition, XTB offers the most widely used MetaTrader 4 trading platform. It allows users to fully automate their trades with Expert Advisors (EA). This is one of the reasons why most traders choose this terminal. Moreover, it offers a wide range of technical indicators, an extensive testing environment and a set of charts.

 

Bonuses, discounts, promotions

XTB offers many promotions to its clients:

 

A system of discounts is available for active traders, at the end of each month a special system automatically calculates the amount of cash back. Traders can earn up to 1.1% of their money balance every month, depending on the trading volume.

 

Invite a friend and you will have the opportunity to receive a bonus when your friend opens an account and meets the minimum trading requirements.

 

Support service

Traders can contact an XTB representative by telephone in London (UK) as well as local numbers in 11 other countries. Chat is available 24/5, email is also available.

 

XTB platforms regularly host training seminars on various topics of online trading. The broker does not offer a glossary or economic calendar.

 

Ways of payment

This broker provides its clients with the following payment methods: bank transfer, credit / debit cards (Mastercard, Maestro, Visa) and e-wallets (Paypal, Skrill, Neteller).

 

Pros:

 

regulated broker; competitive spreads; STP environment; bonuses.

 

Minuses:

 

low leverage.