XTB Review

XTB Review

See our XTB review and find out if this broker is for you. Key criteria reviewed include:

XTB Account Types and Spreads

Logo XTB ReviewWith tight spreads, low fees and excellent trading platforms, XTB is considered a top forex broker catering to retail investor accounts from all over the globe. To start trading with XTB, customers can sign up to one of three account types (Standard, Pro or Islamic) depending on the subsidiary a trader registers with. Those trading with XTB International, outside of the EU, can create a Standard, Pro or Islamic account, while XTB UK only offers Standard or Pro account types.

Forex Spreads and Costs with XTB

XTB achieves tight spreads and fast execution by sourcing their liquidity via X Open Hub. X Open Hub is a specialist in providing technology solutions that connect ECN and STP type brokers with the multi-asset liquidity pools consisting of banks and other top tier financial institutions. XTB’s arrangement with X Open Hub means XTB can offer ECN-style spreads on Forex, Shares, Crypto, Commodities, Indices and ETFs so traders can take advantage of institutional-grade pricing.

Although spreads and fees vary between XTB’s 3 account types, benefits enjoyed by all XTB traders include:

  • Low spreads
  • No requotes
  • Fast order execution

Forex Trading XTB Review

As XTB executes trades as market orders, they provide target spreads rather than fixed spreads. Although the broker aims to achieve the target spreads outlined below, market volatility may result in varying bid and ask prices (as they are not fixed). Additionally, the broker has many subsidiaries around the world that comply with local regulation that impose different regulation, therefore spreads vary between countries.

Trading and Account Fees

As shown below, standard accounts are commission-free, while Pro and Islamic account holders pay a flat rate commission fee of USD 4.00 per side. Share CFD trading carries a commission fee from 0.08% per lot, while Islamic account holders pay a flat rate fee starting from $10 per side (the higher commission replacing swap fees).

Trading and Account FeesStandardProIslamic
Forex Commission FeeNo CommissionGBP 3/EUR 3.5/USD 4GBP 3/EUR 3.5/USD 4
Crypto Commission FeeNo CommissionGBP 3/EUR 3.5/USD 4✘
Stock CFDs Commission FeesFrom 0.08% per lotFrom 0.08% per lotFrom $10 per lot
Swap Fees✔✔✘
Inactivity feeEUR 10 per monthEUR 10 per monthEUR 10 per month
Small Withdrawal Fee$30 for withdrawals <$50$30 for withdrawals <$50$30 for withdrawals <$50
Credit Card Withdrawal Fee✘$30✘
USD Bank Transfer Fee1.5%1.5%1.5%

Account Types

XTB Standard Account

XTB’s Standard Account type is a great choice for beginner traders as it offers it avoids complex commission fee calculations. Forex spreads are tight with standard account holders paying no additional commission fees on top of the spreads offered. As shown below, XTB’s standard spreads are very competitive when compared to other top brokers. For instance, XTB offers average spreads of 0.70 pips, while HYCM and Traders way offers average spreads of 1.40 pips.

XTB Standard Account Average Spreads
0.70 1.30 2.20 1.40 1.80
1.70 2.00 2.40 1.60 2.20
1.40 2.20 1.80 1.60 2.20
1.20 1.50 1.70 1.70 1.90
1.40 2.50 2.10 1.60 2.60
1.58 1.74 2.39 1.45 2.22

Data taken from broker website. Accurate as at 05/01/2021

 

Compare All No Commission Spreads >>

 

XTB standard account holders pay a commission fee of 0.08% per lot when trading ETFs and Stock CFDs, while Index, Cryptocurrency and Commodity trading have no commissions.

XTB Pro Account

With tight spreads and low commission fees, the XTBs Pro Account is suited to scalpers, day traders and those using automated trading strategies. When trading Forex, Commodities, Cryptocurrencies and Indices, XTB customers pay as little as $4 per lot in commission fees, while spreads start from 0.28 pips.

The table below shows the broker’s average spreads offered to Pro accounts. Although popular brokers such as IC Markets and Pepperstone offer slightly tighter spreads, XTB still offers ECN-style pricing with tight average spreads of 0.30 pips for the EUR/USD currency pair.

XTB Pro Account Average Spreads
0.30 0.60 0.50 0.60 0.50
0.10 0.60 0.80 1.10 0.50
0.30 0.50 0.50 0.70 0.50
0.40 0.96 0.75 0.60 1.03
0.50 0.50 0.80 1.70 0.70
0.16 0.40 0.34 0.50 0.27
0.10 0.40 0.30 0.40 0.20

Data taken from broker website. Accurate as at 05/01/2021

 

Compare All ECN-Style Spreads >>

 

Like standard account holders, Pro traders pay a commission fee of 0.08% per lot when trading ETF and Stock CFDs.

Islamic Account

XTB offers a Swap-Free account type for traders who follow the principles of Islamic finance, where paying or accumulating interest is prohibited. As the broker’s Standard and Pro accounts charge interest based swap fees (overnight financing fees), they are not compliant with Sharia Law.

Instead of Standard or Pro Account, Islamic traders can sign up to the broker’s swap-free account, which allows customers to pay a higher commission (which starts from $10 per lot) in place of swap interest fees. Islamic account holders have access to Commodity, Index, ETFs, Share CFD and Forex markets, but Cryptocurrency trading is not available as an option.

As well as restrictions around Cryptocurrency trading, Islamic account holders are not able to trade the following currency pairs: EUR/TRY, USD/BRL, USD/CLP, USD/MXN, USD/TRY, USD/ZAR.

Account Types XTB Review

Please note, Islamic accounts are only available via XTB International, XTB’s UK based subsidiary do not offer Islamic account types.

XTB Cashback Rewards and Bonuses

Depending on the XTB subsidiary a trader is registered with, one can earn cashback rewards if a certain trading volume is achieved. For instance, if a customer trades between 100-299.9 lots during the previous month, they will receive $2 per lot traded. If a client’s trading volume exceeds 1,000 lots, they will receive $5 for every lot they trade in a month.

As well as rewards for trading high volumes, those trading with XTB outside of Europe (and therefore CySEC and FCA regulation) can earn a $1000 bonus for referring a friend to XTB.

 

View XTB Review >>Visit XTB >>


Our Rating

The overall rating is based on review by our experts

8.08
Spreads
7 / 10
Leverage
9 / 10
Trading Platform
8.5 / 10
Risk Management
7 / 10
Range of Markets
9.5 / 10
Customer Service
7.5 / 10

CFD Trading Instruments

As an XTB customer, you are able to trade more than just currency pairs. Traders are able to develop complex trading strategies using Contracts for Difference (CFDs) derived from 6 different asset classes.

CFD Product Range XTB Review

Best CFD BrokerForex, Commodities, and Indices

When trading fx pairs, commodities and indices. In addition to high leverage, the broker offers tight spreads on the following trading instruments:

  • 49 currency pairs with low spreads.
  • 42 global indices including the US100, AUS200, EU50 and JAP225.
  • 22 commodities including metals, soft commodities, oil and gas.
  • 1700+ stocks CFDs including some of the biggest companies worldwide like Apple and Facebook
  • 113 ETF CFDs
  • 25 Cryptocurrency crosses (except UK)

Forex

XTB Forex Features

XTB offers a choice of 49 major and minor currency pairs. Traders with XTB European entities can use a maximum of 1:30 (33% margin) for major currency pairs and 20:1 (5% margin) for minor currency pairs. Traders with XTB entities outside Europe can access a maximum 500:1 leverage.

Indices CFDs XTB Review

Indices and Commodities

Indices and commodities are spread only products, meaning there is no commission with your trades. Unlike many CFD brokers, XTB does not charge traders overnight financing fees for open positions for these commodities. This allows traders to reduce trading costs on positions held open for longer than a day.

If you are trading with XTB Limited UK or XTB Spain branch or XTB Poland, then you can trade with a maximum leverage of 20:1 (5% margin). Many of these instruments require lower. If you are trading outside Europe, then maximum leverage can be as high as 500:1 (20% margin)

XTB offer some 42 Indices are available is a larger selection than many brokers offer. The range of indices covers major nations like Australia, USA and many European countries and some other regions like Mexico, Brazil and Korea.

When it comes to hard commodities, one can choose from 8 metals including zinc and nickel, which are not commonly offered by online CFD brokers. 3 energies (natural gas, Bent and WTI crude oil) and 10 agricultural soft commodities.

Commodities CFDs XTB Review

ETF and Share CFDs

XTB offers market access to over 60 ETF CFDs and 1,500 Stock CFDs with commission fees of 0.08%. Minimum order size and trading hours vary between CFDs.

If you are trading with XTB Limited UK or XTB Spain branch or XTB Poland, then you can trade with a maximum leverage of 5:1 (20% margin). Many of these instruments allow a maximum of 1:1 (100% margin).

Some 1700 stocks are available which have been derived from US, UK and European stock exchanges.

 

ETFs and Stock CFDs XTB Review

Cryptocurrencies

When compared to top forex brokers, XTB offers one of the largest selections of Cryptocurrency CFDs. While many brokers provide access to between 5-10 Crypto CFDs, XTB offers 25. A combination of popular and emerging Crypto CFDs are available such as Bitcoin, Bitcoin Cash, Ethereum, EOS, Dash Litecoin, Ripple, Tron and Monero.

Due to recent changes to FCA regulation, UK brokers are no longer able to offer cryptocurrencies to retail traders. If you want to trade cryptos, you will need to sign up to an XTB subsidiary outside of the UK.

Crypto CFDs Spreads XTB Review

If you are trading with XTB Limited UK or XTB Spain branch or XTB Poland, then you can trade with a maximum leverage of 2:1 (50% margin). Many of these instruments allow a maximum of 1:1 (100% margin). Trading with XTB entities outside Europe allows 5:1 (20% margin) leverage.

There are some restrictions when it comes to XTB’s cryptocurrency range. Cryptocurrency CFD trading is not available to MT4 users or Islamic account holders. To access XTB’s Cryptocurrency trading instruments, customers are required to use xStation 5 through a Standard or Pro account type.

Crypto CFDs XTB Review

Please note, maximum leverage depends on the XTB subsidiary you are trading with as certain financial authorities such as the ESMA and FCA enforce leverage caps.

 

View XTB Review >>Visit XTB >>

Regulation

XTB is seen as a safe and trusted CFD broker due to its subsidiaries following the regulation set by top-tier financial authorities including the

  • United Kingdom’s Financial Conduct Authority (FCA)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Polish Financial Supervision Authority (KNF)
  • International Financial Services Commission (IFSC).

FCA Regulaiton XTB Review

As well as tier-1 regulators, XTB is listed on the Warsaw Stock Exchange (Poland) and has offices in 13 different countries, including France, Germany, Italy, Turkey, Czech Republic, Spain and Belize.

As trading CFDs is a high-risk investment activity, XTB offers protections set by the relevant regional regulator such as segregating client funds, complaints process, PDS documents.

Regulation XTB Review

While all XTB subsidiaries segregate client funds, only certain locations provide traders with negative balance protection (i.e. CySEC and FCA regulated branches). Segregated funds guarantee client’s trading account balances are not used by XTB as operational capital, while negative balance protection ensures account balances do not move into negatives if a market moves unfavourably.

 

View XTB Review >>Visit XTB >>

CFD and Forex Trading Platforms

XTB offers customers two forex and CFD trading platforms, MetaTrader 4 (MT4) or xStation 5. Although both platforms make for an intuitive trading experience, there are key differences between the software in regards to product range, trading tools and risk management features.

MT4 may suit experienced traders or those wanting to develop sophisticated algorithmic trading strategies using Expert Advisors. While xStation 5, the broker’s proprietary XTB trading platform, provides full market access to thousands of financial instruments with many useful tools for beginner traders.

MT4 Interface XTB Review

MetaTrader 4

MetaTrader 4 is the preferred trading platform for many retail investor accounts. XTB customers using MT4 can enjoy the following features:

  • Technical analysis tools including 30 pre-installed indicators, 24 objects and 9 timeframes allowing traders to analyse financial markets and establish trading opportunities.
  • Automated trading with EAs (algorithmic trading) and Trading Signals (social-copy trading).
  • Write and develop algorithmic trading strategies using Expert Advisors (EAs) and the MQL4 programming language.
  • Backtesting tools to test trading strategies and EAs.
  • A large forex trading community plus an online marketplace to buy and download EAs and technical indicators.
  • Pattern recognition scanners to automate financial market analysis.
  • Tools to manage the high risk of trading with different pending order types available (stop loss and take profit orders).

MetaTrader 4 Desktop Trading Platform XTB Review

A disadvantage to using MT4 is that you are unable to trade XTB’s full product range, as MT4 was primarily designed for forex trading.

[table “responsivescroll261” not found /]

xStation 5

A major benefit to choosing xStation 5 over MT4 is the market access traders gain. While MT4 users cannot trade ETFs, shares or cryptocurrencies, those using xStation 5 can access XTB’s full product range with ETF, Share and Crypto trading permitted.

xStation Trading Platform XTB Review

xStation 5 is well-suited to all levels of trading experience as the platform offers an easy-to-use design while providing unique technical analysis tools.

Market Sentiment XTB Review

Examples of the trading tools and unique features the xStation 5 XTB platform offers include:

  • A wide range of charting and analysis tools with over 34 built-in technical indicators
  • Risk management tools: price alerts and multiple pending order types i.e. take profit, stop loss and trailing stop-loss orders
  • Fundamental analysis tools such as an economic calendar and in-house market commentary from XTB’s leading analysts
  • An in-built calculator to forecast costs and profits helps customers manage the high risk of trading
  • The ability to close all open positions with one click
  • Market Sentiment data displaying the percentage of XTB’s traders that are buying and selling different financial instruments
  • Stock Screeners allows traders to search thousands of share markets to find CFDs with specific requirements, for example searching stocks based on their dividend yield, market capitalisation or beta
  • Heatmaps are visual representations showing which markets are rising and falling, with the option to filer currency pairs, equities and time periods

Risk Management XTB Review

Mobile Trading

For those wanting to trade on the go, mobile trading apps are available for xStation and MetaTrader 4.

xStation Mobile App

The broker’s proprietary xStation mobile app offers similar features to the desktop trading platform, with multiple order types, real-time news and in-house analysis, market sentiments and a range of technical analysis tools.

xStation Mobile Trading App XTB Review

The broker’s proprietary mobile app is customisable, with the option to change the display to dark mode to save battery and enhance mobile charting and analysis.

MT4 Mobile App

XTB customers will find an ease-of-use when trading on MT4 with the ability to easily switch between the desktop platform and mobile apps. Whether you want to trade via tablet or mobile device, the mobile apps well-designed layout makes it easy to analyse financial markets and place orders on the go.

MT4 Mobile App XTB Review

Both xStation MetaTrader 4 mobile apps are compatible with Apple and Android devices.

 

View XTB Review >>Visit XTB >>

Customer Support

XTB is well-known for its efficient multilingual customer support. With brick and mortar offices in 12 countries, customers in many areas can access face-to-face assistance, while email, phone and live chat are available for those located outside of office locations. Although European clients can only contact XTB’s customer service representatives 24 hours a day, 5 days a week, any traders outside of the EU are able to access 24/7 customer support.

While phone, email and live chat customer support are available to all current and prospective XTB traders, the broker offers three tiers of customer service depending on a client’s trading volume and deposits.

Service Levels XTB Review

All customers gain access to XTB’s customer service team and premium educational resources, yet Plus and VIP traders are provided with various perks that enhance their trading environment. If a customer trades 10 lots and makes a minimum deposit of $100, they are provided additional benefits such as premium research materials, alerts and notifications, as well as priority passes to events and master classes. Please note, VIP benefits are only available via XTB International and not the broker’s UK subsidiary.

Customer Support XTB Review

VIP status is only offered by XTB International (not XTB UK), and to qualify traders must make a minimum deposit of $25,000 and trade at least 100 lots. In addition to the benefits Plus traders gain, VIPs also are provided with one-on-one coaching, direct access to market analysts and cashback rewards.

 

View XTB Review >>Visit XTB >>

Account Opening and Funding

To start trading, no initial minimum deposit is required by XTB, although the broker recommends $250. When opening a trading account, you can select from four base currencies:

  • USD (United States Dollar)
  • EUR (Euro)
  • GBP (Great British Pound)
  • HUF (Hungarian Forint)

Deposit and Withdrawal Methods

XTB offers a range of funding methods including bank transfers, credit cards and e-Wallet. When withdrawing money from their trading accounts, trader’s face no fees and funds are returned to their nominated bank account. To deposit funds, the following payment methods are available, although certain e-Wallet deposit methods are only available in certain locations:

  • Bank transfer
  • Credit Card: Visa, Mastercard and Maestro
  • eWallets: Paypal, Paysafe (aka Skrill), PayU, Paydoo, Ecommpay, Neteller and SafetyPay

Although the broker does not charge fees to deposit funds via bank transfer or credit card, third-party fees may still apply with these payment methods. If a trader wishes to deposit funds via e-Wallets, XTB may charge a +/- 2% to the total amount being deposited. The below shows the deposit methods offered by XTB’s FCA regulated subsidiary based in London.

Deposit Methods XTB Review

 

View XTB Review >>Visit XTB >>

Education And Market Analysis

XTB offers a great range of educational resources covering a range of topics aimed towards different levels of experience. Regardless of account type or trading volume, customers gain access to premium educational materials created by XTB’s trading specialists.

Trading Academy XTB Review

XTB’s Trading Academy includes platform tutorials for both xStation 5 and MetaTrader 4, as well as lessons explaining CFDs, Forex and fundamental analysis. Although the broker currently lacks advanced tutorials, the XTB.com website states expert Trading Academy resources can be expected soon.

Educational Resources XTB Review

As well as tutorials and articles, XTB’s market experts host live webinars suited to all levels of experience. Focused around technical analysis, the broker’s webinars cover research techniques to help traders advance their skills and trading strategies.

Webinars XTB Review

Demo Account

XTB offers free demo accounts for both MT4 and xStation trading platforms. Beginner traders will benefit from using demo accounts as it provides the opportunity to build confidence and learn the ins and outs of a trading platform prior to trading with real money.

Although it’s highly recommended beginners utilise the broker’s free trial, traders of all levels of experience can benefit from demo accounts. It is a great educational resource, as traders can practise and optimise trading strategies in a live trading environment, without the high risk of losing money.

Demo Account XTB Review

 

View XTB Review >>Visit XTB >>

Information For Traders Of United Kingdom

XTB Business Registration Details

XTB has the following business and regulation in the United Kingdom

  • XTB Limited UK trades with the business number 07227848 and is regulated by the Financial Conduct Authority  with the registration number FRN 522157

The registered address of XTB is Level 9, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom (company number 07227848).

XTB Contact Details

XTB Professional CriteraXTB Contact details are Level 34, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom. Contact details are:

  • Account Opening -+44 2036953085
  • Office -+44 2036953085
  • Marketing –  +44 2036953087

FCA Leverage: Retail vs Pro Traders

XTB to be compliant with FCA / ESMA regulations offer retail and professional trading conditions.

Leverage for professional traders is more generous, as it is expected professional traders have the skills to use leverage responsibly and funds to manage any losses, unlike retail traders who may be more exposed when losses occur with high leverage.

Leverage available for CFDs is:

 Max. Retail LeverageMax. Professional Leverage
Forex - Majors1:301:200
Forex - Minors1:201:200
Cryptocurrency1:21:20
Indices1:201:200
Commodities - Gold1:201:200
Shares CFD1:51:33
ETFs1:51:33

XTB FAQs

XTB is a forex and CFD broker established in Warsaw Polan in 2002. Originally called X-Trade, they were renamed XTB in 2004 and obtained regulation from the Polish Financial Supervision Authority in 2005. After expanding into other countries around Europe, XTB were listed on the Polish Stock Exchange in 2016, making them one of the largest listed online brokers in the world.

As an online broker, XTB offers the following services:

  • Brokerage for  48 currency pairs
  • Over 42 indices CFDs
  • 22 different metals and commodities
  • More than 1700 shares CFDs
  • 113 ETF CFDs
  • 25 Crypto CFD cross pairs

With these features, XTB also offers

  • The choice of trading platforms
  • Range of trading accounts
  • Education tools
  • Market analysis tools

No, XTB are not a market marker or B-book broker. It’s an A-book or no dealing desk broker, XTB does not own the liquidity used for trading or act as a counterparty for each trade. This means XTB do not profit clients’ losses. XTB functions as a broker are to connect clients with liquidity providers and make profits by taking a small cut of clients trades. This will either be in the form of commission or wider spreads.

To find out more about different types of brokers, click here. 

XTB is a no dealing desk broker that provides straight-through processing (STP) and/or electronic communication network trading execution that has been enabled by X Open Hub. A specialist in helping brokers connect traders with deep liquidity pools so clients can get the best trading spreads for a range of derivatives.

To view more no dealing desk brokers, you can compare the top options here. 

Summary Strengths And Weaknesses

The major disadvantage of trading with XTB is the limited range of financial instruments offered on MetaTrader 4. For those wanting to trade Cryptocurrencies, ETFs and Share CFDs, you will need to use xStation or try a broker such as Pepperstone.

As well as a choice of trading platforms between xStation and MT4, XTB provides many features to enhance the Forex and CFD trading experience. Compared to other brokers, XTB offers ultra-tight spreads, a wide range of CFD products with cryptocurrency and share trading, as well as excellent customer support and educational resources.

While pricing and product range is important, a major benefit XTB customers gain is knowing that they are trading with a trusted, highly regulated broker. With oversight by tier-1 financial authorities such as CySEC and the FCA, plus the broker being listed on the Warsaw Stock Exchange, a high level of transparency, investor protection and trust are provided.

 

View XTB Review >>Visit XTB >>

About the author: Justin Grossbard

Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.