I have been using XTB for some years now and in this XTB review, I will show you the important features you should look out for.
Before you use the XTB forex broker for your trading, you must read reviews like this.
The table below summarizes the XTB Forex broker review;
| Broker FAQ | Answers |
|---|---|
| Year Founded | 2002 |
| Free Bonus | No |
| Minimum Deposit | $250 |
| Spread | XTB Spreads Start From 0.9 pips for EUR/USD, But Depends on Account Type – See More Details Below |
| Leverage | 1:500 |
| Cent Account | No |
| ECN | No |
| Deposit Methods | Credit/Debit Card, PayPal, Neteller, Skrill, Bank Transfer |
| Withdrawal Methods | Skrill, Neteller, Visa, MasterCard, Bitcoin |
| MT4 | No |
| MT5 | No |
| Mobile App | ✓ |
| Copy Trading? | No |
| Trustscore | 95% |
Are XTB Safe And Regulated?
XTB is regulated by a number of financial authorities around the world, including the top-tier Financial Conduct Authority in the United Kingdom (FCA).
It is also required to disclose its financials on a regular basis because it is listed on the Warsaw Stock Exchange.
It’s also important to note that XTB recently partnered with José Mourinho as their official brand ambassador.
XTB Review – Frequently Asked Questions
Individual accounts at XTB do not require a minimum deposit, but you need at least $250 to start trading. Corporate accounts, on the other hand, require a minimum deposit of £15,000.
Using data from Q3 2021, XTB average EUR/USD spreads were 0.91. (note: the commission-based pro account is being phased out and is no longer promoted).
It took one business day to withdraw money via bank transfer. If you request a withdrawal before 1 p.m., it will be processed the same day; otherwise, it will be processed the following business day.
No, XTB does not offer ECN accounts.
If the amount is over a certain threshold ($50-$200 depending on your country of residence), XTB does not charge any withdrawal fees. The only way to get money is through a bank transfer. You can only make withdrawals from accounts that are registered in your name. How do you withdraw money from XTB?
1. Go to the trading platform and log in.
2. Click ‘Deposit and withdraw funds in the bottom right corner.
3. Fill in your bank account information as well as the amount you want to withdraw.
4. Start the withdrawal process.
For “Standard” accounts, XTB offers a minimum FX spread of 0.5 with no commission and 0.1 with a commission for “Pro” accounts. This is, without a doubt, the best retail FX brokerage.
Non-U.K. accounts can get up to 500:1 leverage, while U.K. accounts can get up to 30:1 leverage.
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XTB Account Types And Spread
Standard and Pro accounts are both available on XTB. The spread is determined by the account type and market on which you trade, and it cannot be changed without changing your account. Floating spreads are used in standard accounts, which means they tighten or widen depending on the liquidity available.
Pro accounts have floating spreads as well as market execution, which means they pay a small fee to get market-level spreads. Standard accounts do not charge commissions, and the spread covers the majority of the trade’s costs.
The Standard account, on the other hand, has a floating spread with a minimum of 0.9 pips. The market spread is used on the Pro account, and the minimum spread is 0 pips.
The XTB broker understands that each trader’s needs and preferences are unique, which is why they offer two different account types with both instant and market execution.
You can open a Swap-free, Islamic account if you are outside UK/EU. However, only certain countries are eligible for Islamic accounts through XTB International (UAE, Saudi Arabia, Kuwait, Oman, Qatar, Jordan, Bahrain, Lebanon, Egypt, and Malaysia).
To create an Islamic account, go to www.xtb.com/int and select ISLAMIC under “Choose an account type” on the real form.
XTB Deposit Methods
XTB deposits and withdrawals are quick, usually free, and available through a variety of channels. For bank transfers, XTB does not charge any deposit fees. Depositing with credit/debit cards and electronic wallets may incur a fee, which ranges from 1% to 2% depending on your location.
PayPal and Skrill, for example, charge 2% of the amount deposited for UK customers. Many electronic wallets, in addition to bank transfers and credit/debit cards, are accepted for deposits:
Which electronic wallets are available to you depends on where you live. Deposits via Sofort, for example, are only available to German customers.
Payment with credit/debit cards and electronic wallets is instantaneous, whereas bank transfers can take several days. You can only make deposits from accounts that are registered in your name.
XTB Review – Trading Platforms
While most Forex brokers use MetaTrader 4 and MetaTrader 5, XTB has its own xStation 5 mobile app which is far superior. XTB’s mobile app can compete with the best forex brokers without a doubt.
The xStation 5 app is simple to use and has many of the same features as the web version, including streaming news, pre-defined watchlists, an economic calendar, top movers, and client sentiment data.
XTB’s flagship platform, xStation 5, provides a great experience on the web, mobile, tablet, and even smartwatches for iOS and Android.
XTB Trading Instruments
- Forex
- Commodities
- Indices
- Stocks
- Cryptocurency
- CFDs
- ETFs
XTB Traders Education
Thanks to its extensive written content, video materials, and archived webinars, I was impressed with XTB’s educational offering. XTB does an excellent job of integrating education into its platform suite and website. The only drawback is the lack of organization of its video content, which is scattered across its platform and YouTube channel rather than in one place.
Under the “Learn To Trade” section of its website, XTB offers a variety of materials that can be sorted by topic or experience level. XTB’s well-organized Trading Academy offers more than 200 lessons, as well as enhanced FAQs, platform tutorials, financial market education, and premium content for live account holders.
There are at least ten lessons covering forex and CFD education, with quizzes in each category. There are also dozens of articles on broader topics like “What are macroeconomic indicators?” and “What are macroeconomic indicators?”
Summary XTB Review
XTB is a well-known brand that offers a diverse range of tradeable securities, excellent customer service, competitive research, and its proprietary xStation 5 trading platform suite. The broker finished Best in Class for 2022 in our Research, Education, and Overall categories, out of 39 brokers, despite its average pricing.
Traders looking for a broker to trade forex and CFDs in 2022 should give it serious consideration.
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