The Complete 2020 XTB Review: Legit or a Scam?

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Overview

In the dynamic financial services industry online, success starts with the right trading platform. Whether you’re a beginner or an experienced trader, an automated trading platform can bring you desired results in no time. Unlike the manual mode, the automated trading robots are more accurate and efficient.

Today, we are going to review xtb trader online. This platform is not only limited to cryptocurrencies but also facilitates trading other instruments like indices, stocks, and CFDs for Forex. So, let’s start our xtb review analysis below with a brief introduction to the platform.

What is XTB Broker?

Founded in 2002, XTB is an award-winning CFD and Forex brokerage firm online. Over the past 18 years, it has established itself as an esteemed broker firm in the space of retail forex investment. They operate in over 13 countries including Belize, Europe, and the UK. The official website of XTB is available in sixteen languages. 

XTB holds the regulation and authorization from 5 regulatory authorities, i.e., International Financial Services Commission (Belize), CySEC (Europe), SEC (Poland), Financial Conduct Authority (the UK), and CNMV (Spain). XTB offers you over 4000 trading instruments with premium broker and trading platforms on both desktop and mobile devices.

Highlights from XTB Review

Below is a glimpse of our 2020 xtb review:

 Account opening  24 hours
 Minimum deposit  $250
 Payment  Credit/debit card, bank transfer, and electronic wallet
 Withdrawals  24 hours
 Demo trading  Yes
 Tutorials  Trading academy under education section
 Customer service  Available 24/7
 Products  Forex, Stocks, ETF, CFDs, Real Stocks, and Cryptocurrencies

A Quick Review of the XTB Trading Platform

Ease of use – 90%

Reputation – 99.9%

Fees – 90%

Customer Support – 85%

Payment Methods – 90%

Pros and Cons of XTB Broker

Pros Cons
 Over 4,000 trading instruments.  No VPS.
 Authorized from 5 regulatory bodies.  Bonus schemes only valid for non-European users.
 Multilingual website & customer service team.  30 days validity of Demo Account.
 Mobile Applications.
 Cashback Rewards.

Key Features of XTB Broker

XTB broker is one of a kind when we talk about versatility. Several of its competitors fail to defeat XTB due to its multiple features. This is an amazing platform that opens up a plethora of options in the volatile world of financial instruments.

What can you expect with an XTB broker? Let’s have a look below:

Trading Platforms

Trading PlatformsTrading Platforms

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There are two trading platforms with XTB Broker. Let’s have a detailed overview of each below:

xStation 5

xStation 5 is available in 19 languages including French, Turkish, and Japanese. This platform is user-friendly and well-designed. The users can customize this web trading platform too. You can run xStation 5 on desktops, windows, and MAC operating systems.

What do you get from xStation5?

  • Search bar to browse categories and product types.
  • Trader calculator to calculate the commission, margin, and other parameters of each trade.
  • Fee and portfolio reports.
  • Set alert and notifications via SMS, email, and push notifications.

The one-step login is the only con of xStation 5.

MetaTrader 4

It is a 3rd party tool offered by XTB. It is a simple and the world’s most popular trading platform. The classic MetaTrader 4 is available with full functionality via browser over tablet, mobile, and desktop. You can also download the MT4 mobile app for both Android and iOS platforms.

What do you get from MT4?

  • Pattern recognition tool to optimize your technical trading.
  • Strategy tester to test and optimize trading strategies.
  • Customizable indicators for automated trading.
  • Expert advisors to automate forex trading.

To get started with xStation 5 or MT4, enter your email address and choose your country. You can create an account in minutes.

XTB Tradable Instruments

XTB supports a long list of instruments for the brokers. In total, there are around 4,000 instruments that we can trade with the brokers. These include commodities, forex, indices, and shares.

Commodities: Oil, Gold, and Silver commodities are available for XTB brokers. 24-hours trading, no overnight holding fee, high volatility for expensive commodities, low transaction costs.

Forex: Spreads from 0.1 pips. There is no initial deposit; brokers can get up to 48 currency pairs and micro lot size trades.

Indices: More than 20 indices are available for brokers. Low transaction costs, supports financial leverage mechanism, long or short, zero overnight holding cost for open positions

Cryptocurrencies: XTB allows the brokers to trade over 25 cryptocurrencies, including Litecoin, Bitcoin, Dash, Ethereum, Stellar, Ripple, and more. Low transaction costs with zero capital loss risk. The market is open 24/7 for brokers.

Apart from these, XTB supports 60 ETF CFDs, with negative balance protection, ultra-fast execution, low commissions, and leverage of up to 1:10. The brokers can also access CFDs on 1,500+ equities, with commissions starting at 0.08%, ultra-fast execution, and with leverage as high as 1:10.

Deposits & Withdrawals

Deposits & WithdrawalsDeposits & Withdrawals

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Deposits and withdrawals with an XTB account are quick and easy. The users can deposit the funds in several ways covering bank transfers, credit cards, and e-Wallets.

To withdraw funds, select the trading account, and enter the desired amount. All the withdrawals are processed on the same day if processed before 1 PM. The withdrawals requested after 1 PM will fall under next day clearance. There are certain withdrawal fees levied on the amounts smaller than threshold.

Mobile Application

Mobile ApplicationMobile Application

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XTB offers you mobile applications on Android and iOS for both xStation 5 and MetaTrader 4. The Mobile App UI is designed in a modern way with user-friendly features. XTB mobile trading platform is also multilingual.

xStation 5 mobile app- Forex & CFD Trading

xStation 5 mobile app allows you to manage Forex and CFD accounts from your mobile devices. It is available on iOS, Android, and Windows. XTB’s mobile trading platform facilitates complete account management, view charts, and other analytical tools. One-step login and fingerprint authentication are supported.

You can customize the xStation mobile app by choosing between dark and light more.

Smartwatch App

After mobile devices, smart wearables are amongst the popular utility trends. Thus, XTB extends its services for smartwatches too. The users can trade, monitor, and manage orders via their wristwatches. It offers an easy to use and simple user interface. You can download it from Google Play Store or Apple Store.

MT4 Mobile App

MT4 mobile app is simple, fast, and user-friendly. It lets you provide market trading anywhere and anytime. The users can access technical indicators, charting, strategy tester, order management, and much more. MetaTrader 4 mobile app is downloadable from both Google Play Store and Apple Store.

Demo Trading

Demo TradingDemo Trading

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XTB offers a “Demo Trading” feature for experimenting with virtual money when trading for USD100,000. The users can test xStation 5 trading platform with access to all 1500+ trading instruments. But the demo trading account is valid for 30 days. Users have to get started with their Live Account for real money deposits.

Account Types

Account TypesAccount Types

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To open an account with XTB, you need a minimum deposit of USD250. After the first deposit, there are no minimum deposits required. The traders can deposit their desired amount anytime.

Standard Account

It is a free to set up account. The users can open a standard account to trade over 1500 instruments including commodities, Forex, Stock CFDs, Indices, and ETF CFDs. It supports both negative balance protection and automated trading. The maximum leverage with this account is 30:1 along with a minimum spread of 0.35.

Commissions & Charges

 Account setup and management  No charges
 Indices, Forex, and Commodities  No commission
 ETF CFDs and Stock CFDs  0.08% per lot
 Cryptocurrencies  No commission

Pro Account

Pro account set up is free. With this, the users can trade 1500+ instruments including Commodities, Forex, Cryptos, ETF CFDs, Stock CFDs, and Indices. Both automated trading and negative balance protection is supported. The maximum leverage with this account is 30:1 along with a minimum spread of 0.28.

Commissions & Charges

 Account setup and management  No charges
 Indices, Forex, and Commodities  Commission from $3.50 per lot
 ETF CFDs and Stock CFDs  Commission from 0.08% per lot
 Cryptocurrencies  Commission from $3.50

For a detailed list of commission and charges, visit the official website of XTB.

Islamic Account

Just like Standard and Pro Accounts, Islamic Account set up is free. With this, the users can trade 1500+ instruments including Energies, ETFs, Forex, Commodities, Indices, Shares/Stocks, Precious Metals via xStation, MetaTrader 4 trading platform. Islamic Accounts don’t support crypto trading and are Swap Free.

Commissions & Charges

 Account setup and management  No charges
 Indices, Forex, and Commodities  Commission from $10 per lot
 ETF CFDs and Stock CFDs  Commission from $10 per lot
 Minimum deposit  $1

Islamic accounts support trading strategies like Hedging, EAs, Scalping, and News Time Trading. It adopts Negative Balance Protection. Available base currencies are USD, GBP, and EUR.

Note: For UK clients, only Standard and Pro XTB accounts are available.

Trading Academy

XTB is a wonderful broker platform that lets you learn about trading with detailed courses. Under the Trading Academy section, the users can get access to a wide range of course material including trading courses, video tutorials, articles, and much more. All this content is curated to enhance the user’s skills across their trading journey. You can browse the lessons into two categories, i.e., by level (basic, intermediate, expert, and premium) or by subject.

Market Analysis

In our xtb review, we came across a unique feature, i.e. market analysis. There are three categories under this feature. First is “Market News” where the traders can explore the latest trading news from worldwide. 

The second is “Price Tables”. The traders can check the live movement of instruments under Forex, Indices, Commodities, Crypto, and Stock CFDs. Lastly, xtb gives you access to “Market Calendar”. It will allow traders to learn about the impact of different financial services across multiple countries.

Affiliate Program

Affiliate ProgramAffiliate Program

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For traders, XTB platform offers both an IB (Introducing Broker) program and an affiliate program. With the affiliate program, you will get XTB’s marketing tools for advertising on your platform or website. If the clients get redirected to XTB website via shared link, you earn referral money. This method claims to bring $600 per trader.

The IB program works as a partnership between the traders and XTB. You need to refer clients to XTB website. When they open an account and start trading, you will receive a commission. This commission is based on the clients’ trading volumes.

Insurance Scheme

XTB adheres to a compensation scheme. It falls under the Polish National Depository (PND) for Securities. Under this clearing scheme, the system establishes legal limits of clients’ financial compensation for calls of creditors. The payment covers 100 percent of the funds (up to a limit of 3,000 Euros) and 90 percent of the remaining funds (up to a limit of 22,000 Euros) are covered by this insurance scheme.

Customer Service

XTB offers fast and reliable customer service over phone, email and live chat. Just like a trading platform, customer service is also available in multiple languages. In our XTB review, we found fast responses and useful answers. For users outside Europe, customer service is available 24/7. However, it is only available 24/5 for European clients.

Is XTB online trading a Legit company?

With headquarters in Poland, XTB has its reach in multiple countries. Thus, it is no surprise that XTB is highly regulated by numerous regulatory bodies. Two of the biggest regulatory authorities supervising xtb are the financial conduct authority (FCA) and international financial services commission (IFSC). With too much international regulation, the traders can trust that XTB maintains high standards and protects traders’ funds.

XTB has strict standards when it comes to protecting user information. In our review, we witnessed a secure SSL connection for XTB’s official website. The safety of funds is crucial at XTB, thus all the traders’ funds are kept in individual segregated client bank accounts all the time. All the funds stay in ring-fenced accounts in line with xtb’s regulatory obligations. Moreover, the top regulatory bodies keep on checking the monitoring for compliance regularly.

Considering the sharpest guidelines, we conclude that XTB is a legit online trading company.

Why is XTB a great Forex and CFD broker?

Below are some advantages of XTB that make it a great software for Forex and CFD brokerage:

Free to Use

XTB is a free to use application. It takes only a few minutes to set up. Your free account is valid for 30 days.

User-friendly Platform

XTB is an easy to use platform. It is designed to deliver superior execution speed. Whether you are a beginner or an experienced trader, you can manage your investments easily and quickly.

Over 4000 Trading Instruments

There are over 4000 trading instruments for the investors. These include cryptocurrencies, CFDs for Forex, stocks, commodities, and ETFs.

Instant & Reliable Execution

XTB is an award-winning online trading platform. It offers ultra-fast execution speed.

Helpful Research Tools

XTB gives you access to multiple research tools that help you with news flow, or trading ideas, etc. These tools are available in multiple languages including Arabic and Chinese. Its professional analytical tools are helpful and user-friendly.

24/7 Customer Service

XTB offers a reliable and fast customer service team. It is available 24/7 to answer all the questions and queries of users. You can contact the customer service via phone, email, and live chat.

Over 16 Years of Experience

XTB has been rendering CFD and FX broker services for over 16 years. It is one of the largest stock exchange-listed brokers in the world.

Tutorials

XTB gives you access to an individual education section. You can access videos, webinars, educational articles, and ebooks. 

Regulated & Trusted Brokers

Although XTB has no banking license, it is listed on the stock exchange. It is regulated by several top-tier financial authorities including Financial Conduct Authority, KNF, and the international financial services commission.

Get Cashback on your trades

XTB offers Cashback for closed online trading positions. You can also earn rewards for your highly traded volumes. These rewards are flexible to use. You can either buy new funds next month or redeem them.

Does XTB allow scalping?

Scalping is a unique trading strategy often followed by traders. It is useful for clients who seek to benefit from small movements in market prices over an extremely short period. It includes opening multiple trades and closing them with little profits.

XTB offers two advanced trading platforms, xStation and MT4. Both platforms facilitate scalping. The clients can use xtb for all the three types of scalping, i.e., market making, purchasing large no. of stocks, and 1:1 risk/reward scalping.

How does XTB work?

XTB is a transparent trading platform. The traders need to register and choose the trading account. The platform then ties up with highly regulated brokers who follow stringent guidelines for fund protection like minimal initial deposits with flexible withdrawals.

With XTB, the traders can experience spreads as tight as 0.3 pips or as high as 200:1. The XTB investor accounts are powered by advanced trading technology for smooth executions (No retail investor accounts lose money without a professional guideline). The system also allows for requotes prevention.

XTB supports a long-list of instruments. With xtb brokers, you can trade in over 3,000 instruments. Before investing in any instrument, the traders can look for specific trading terms. The Price tables are available under the market analysis section of XTB website. Here, the traders can look for the current price for every instrument, including spread, bid, ask, and percentage change.

Is XTB Suitable for the Beginners?

XTB is a global forex and CFD broker company. It was founded with an aim to facilitate investors in almost every financial instrument trading. Built over advanced algorithms, XTB is a publicly-traded and user-friendly application. To use this application, the traders do not require any prior trading experience. Every XTB user can explore its education section or market analysis for comparing trends and analyzing information through graphs or heat-maps. It means the beginners can learn and trade with XTB.

The top-tier financial regulatory bodies regulate all the trades occurring over XTB. It holds Tier-1, Tier-2, and Tier-3 licenses. Thus, it can be considered safe for both beginners and experienced investors (Retail investor  accounts lose money when trading cfds, but not with experts or brokers). Moreover, XTB has a long track record with multiple user testimonials. It is listed on the WSE (Warsaw Stock Exchange). It provides transparent financial statements accessible to the users.

For beginners, trading with XTB is safe because it adheres to great measures for money protection in every aspect. All the personal and financial data of traders are fully encrypted making it inviolable to the scammers. There is also a stringent safeguard for the broker’s deposits in the segregated accounts. The deposit segregation allows XTB to minimize the risk. To evaluate the security measures and the solvency of its financial aspects, XTB performs internal audits annually. In our XTB review, we found a trust score of 95 out of 100. Thus, we can conclude that XTB is a low-risk trading platform.

Top Tips for Beginners

Trading for the first time may seem challenging. However, considering a well-planned process can help you get through all the challenges of online trading with automated software.

Get Education

XTB provides you a full-fledged education section, i.e., Trading Academy. You can find educational material on instruments, market trends, trading process, and more. Both text and video tutorials are available.

Test Demo Trading

We advise the beginners to test the Demo Trading feature of XTB. It is valid for 30 days after you open an xStation account. Trading with virtual money will help you gain insights into the live trading environment.

Small Investments

It is advisable to start xtb xStation 5 trading with small investments without any high risk. Although you need to pay a minimum deposit of $250 initially, after that you can choose your desired money for trading online.

Seek Assistance

Before the new clients start investing money when trading CFDs or any other instrument, it is useful to consult 24/7 available live chat. It will help them to know the platform in a better way. 

How to Open a XTB Account?

How to Open a XTB AccountHow to Open a XTB Account

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To open an XTB account, you need to follow a few simple steps.

Choose account type

XTB offers you two types of accounts, i.e., Standard and Pro. Choose your desired account type.

Registration Form

To open an account with xtb, enter your email address and country of origin. Accept the terms and conditions, Click next and create your account password. The system will verify your details.

Create Account

Once registered, enter personal details like name, phone number, etc. You need to upload additional documents to verify your identity. You can upload bank statements, proof of identity, etc. via your xStation or XTB client office.

Fund your XTB account

Creating an XTB account is free of cost. However, you need to fund the account with an initial minimum deposit of $250, £250 or €250. You can deposit funds through the Client office or directly on xStation account.

At XTB, there are several ways to fund your account including PayPal, Paysafe, bank transfers, and credit/debit cards. Once you deposit the money, you are ready to start with no fear to lose money when trading.

Why Do Retail Investors need XTB?

The financial instruments (FI) are seen as packages of capital that can be traded. Most types of FIs offer efficient flow of passive income in the world of retail investor accounts (retail investor accounts lose money when they have lack of experience). If we talk about Forex, CFDs, and Cryptocurrencies, all these are different branches of the same tree. Some retail investor (s) tend to invest in cryptos while others like to trade CFDs to profit from market movement.

No matter which instrument the retail investor chooses, the market of financial instrument trading is volatile. Some FIs like CFDs are complex and the investors can have a high risk of accounts lose money when trading cfds frequently. Almost 80% of retail investor accounts lose money when trading without online software. To avoid this, there is a need for an entity that can take care of retail investor accounts. Undoubtedly, there are multiple platforms available. But there is a rare chance that a single platform is supporting multiple FI trading. In our XTB review, we found this characteristic under a single roof.

XTB is a multi-asset trading platform with over 16 years of global experience. Several xtb reviews declare it as a safe and reliable trading partner. In our 2020 xtb review, we experienced the same. It is regulated by over 6 regulatory bodies across the world including the top financial conduct authority (FCA) and IFSC. Its multiple account types allow trading cfds, cryptocurrencies, and other FIs. Its powerful mechanism allows investors to eradicate the high risk to lose money when trading cfds. It has its own trading platform and a 3rd party platform to attract a wider audience. All of its platforms are accessible on desktop, tablets, and mobile apps.

Last words on XTB

XTB is a simple to use CFD and forex broker. It offers a wide and great selection of instruments, offers educational tools, and has prompt customer service. In comparison to others, its stock Index CFD and forex fees are low.

Although there are some drawbacks like no 2-step authentication. But its seamless and hassle-free interface is enough to tempt the retail investor accounts (but no accounts lose money). We recommend XTB for clients to open retail investor accounts and enjoy its great investment without any high risk, deposit, and withdrawal options. You can always test XTB using a demo account.

FAQs

1. Is there a minimum deposit for xtb trading software?

The minimum deposit into your xStation 5 or MT4 accounts are £250, €250 or $250. After that, you can make your desired deposits for trading cfds and other instruments.

2. Is XTB trading regulated?

Yes. XTB is regulated and authorized by the Financial conduct authority. Apart from this, there are multiple international regulations across its global offices.

3. Does XTB support cryptocurrency trading?

Yes. The brokers can trade around 25 cryptocurrencies along with trading CFDs on XTB platform.

4. Is there any customer support?

The brokers can get 24/7 access to XTB’s customer support team. It is available via Live chat, email, and phone. Only for European traders, it is available 24/5.

5. Is there a mobile application for XTB?

Yes, XTB offers a fully-fledged mobile application for both Android and iOS platforms. There is also a smartwatch XTB app. Just tap and get started with trading CFDs and other instruments.

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