With approximately a decade and a half in the online trading industry, XTB is among the most experienced forex and CFD brokers you can currently find. They are also one of the biggest brokers in Europe and offer loads of interesting features. The company’s clients seem delighted with what they get from them, so we decided to examine the offer ourselves and find out what is it that has made this company so successful. The result of our team’s efforts is this extensive XTB review where we go through absolutely every feature you can find on this broker’s website. Want to know if this is the trading partner for you? The just keep reading and everything will become clear in a flash!
XTB Review | Login and account types
So what would be the best way to start this article? Well, it somehow seems logical to take a look at the XTB account creation and login process because that’s the first thing you have to do if you want to trade here. Setting up your account is very smooth and can be done in just a minute or two – all you need to do is fill out a few short forms and you will be able to login to your account instantly. What we have to mention here, however, is that you can choose between three XTB account types: Basic, Standard and Pro. What is interesting about them is that they all have the same minimum deposit requirement (we’ll talk about that later in the article), so you actually have the freedom of choice and are not limited by how much you can invest, which is often the case in the industry and we have to commend XTB for this. The accounts differ in spreads and execution type (market and instant), plus the Basic account has an upper limit of the order size for forex (50), indices (15) and commodities (15). The Basic account also does not offer automated trading, a feature included in other two packages. There are some other minor differences between the accounts, but there is also an account that stands completely separate from all others. That’s what we will be talking about in the next part of XTB broker review, so stay tuned!
XTB Account Types
XTB Review | Demo account
Just like all other serious brokers, XTB also has a demo account to offer and is even easier to open than the account types mentioned in the previous paragraph, so your demo login should really be a breeze. All you need is to provide is your e-mail address, after which you will be able to choose which real account type you want to mimic and which type of platform you want to use. We have to mention that the XTB demo account is completely free and comes with an impressive amount of features and is an excellent value proposition because of that. It will last you for four weeks and will provide you with 100,000 virtual GBP to use however you want. With it, you will be able to test absolutely everything this broker has to offer, including its two platforms, numerous types of assets and more than 1500 different CFDs. You will also have full access to the company’s excellent support, which will be with you 24 hours a day every day from Sunday to Friday. Therefore, you can really prepare yourself thoroughly for all trading challenges. But there are many other very interesting things we need to discuss in this XTB review and we need to be moving on. Don’t go away, payment methods are next!
XTB Demo Account
XTB Review | Deposit
When talking about money transfers, we always have to take two processes into consideration – deposits and withdrawals. We believe you will be pretty satisfied with the number of options you have here, but let’s take things from the top.
XTB deposit can be made by using all the most popular transfer methods: via bank transfers, credit and/or debit cards (Visa, MasterCard, Maestro) and e-wallets (Skrill/Paysafe, PayPal and Neteller). This looks like a very decent selection, so we really have no objections. Quite the contrary, everything you need to complete the deposit process quickly and smoothly is here. Be aware, though, that the XTB minimum deposit requirement for your first deposit is 250 GBP, EUR or USD. This is the requirement we talked about earlier in the part about account types and all available account packages require this deposit to get started. However, after you make that first transfer, the minimum deposit requirement will disappear and you will be able to deposit without limitations. This is really excellent news and a feature that can help you stay flexible when it comes to managing your money.
XTB Deposit Methods
Keep in mind that some deposit fees may be charged to you, depending on which method and currency you decide to use. You choose this when you log into your XTB client office and click on the Deposits tab. Bank wire transfers are free, which is another feature that sets this broker apart from its competition, and the same goes for credit and debit card deposits in EUR and GBP. If you use your cards to deposit in USD, a fee equal to 2% of the amount will be applied, whereas if you deposit in HUF that fee goes up to 4%. Things work pretty much the same with e-wallets: PayPal and Paysafe(Skrill) mean a 2% fee, while Neteller has a 4% fee attached to it. But what about XTB withdrawals? Keep reading and everything will become clear.
XTB Review | Withdrawal
Obviously, no XTB review would be complete without a look at the withdrawal process. After all, this is the most important part of your trading – if you can’t withdraw your profit, there’s no point to investing in the first place. However, we have some really good news here.
First of all, allow us to say that you have nothing to be afraid of here. No scam will happen to you, as evidenced by our Is XTB a Scam? analysis. Once again, you will need to log into your client office. After that, head on to the Withdrawal tab where you will be able to choose the account from which you want to withdraw, after which you can choose how much you want to withdraw. The final step is choosing to which account you want to withdraw. Once you’re done with all of that, you send in the request and wait a bit. Fortunately, this broker is very quick and UK withdrawals in GBPs and HUF withdrawals can even be processed within the same day if you make the request before 1PM GMT. If you’re in the European Union, you too can get your money quickly because if you again make the request before the aforementioned deadline, it will be processed the very next day. For all other traders, the withdrawal processing time is three working days, which is still perfectly acceptable.
XTB minimum withdrawal requirement does not exist, which is absolutely brilliant news, but there is a threshold you have to go over if you want to avoid additional costs. This threshold stands at 100 USD, 80 EUR, 60 GBP and 12000 HUF. If you withdraw more than that, everything is free, but if you withdraw less your XTB withdrawal fee will be 20 USD/16 EUR/12 GBP/3000 HUF. Given that these additional costs are pretty easy to avoid, we recommend you plan ahead because it can save you a nice amount of money. But when it comes to fees, there are more of them you need to be aware of, so we will dedicate a part of this XTB review just to them. Read on!
XTB Review | Fees
So now that we’ve gone through the XTB fees associated with managing your money on this broker’s website, let’s see now what else can we say on the subject. First, some good news – you do not have to worry about XTB inactivity fee because this company simply doesn’t have one! That’s another unique financial feature that makes these guys stand out from the rest of the crowd in this industry. Still, there are some costs that can occur while trading here. XTB commissions per lot start at 0.08% if you’re trading in CFD or ETF markets, but for all other markets Basic and Standard account packages have no fees. PRO accounts, on the other hand, will charge you a fee per closed and opened lot and this will amount to 2.50 GBP, 1100 HUF, 3.50 EUR or 4 USD.
There’s also a thing called Italian financial transaction tax which applies to all share CFDs originating from Italy and based on Italian equities. You don’t have to worry a lot about this, though, because the tax is only about 0.0001% of the total transaction. However, total fees are fixed, so if you want to know more about them you can find a table showing exact levels of this tax on the broker’s website. In any case, this really shouldn’t be a problem, but we still had to mention it if our XTB broker review was to be completed. Now, we’re getting to the main part of the article. Don’t miss it, it’s just below!
XTB Review | Trading platforms
Trading environment is absolutely the most important part of any broker’s offer. This is the place where you can look at all the data in real time and execute trades, so absolutely no slip-ups can be tolerated. If a platform doesn’t perform perfectly, it can cost you money. Fortunately, XTB trading platforms have no problems with that. Yes, platforms – you can choose between two different types of trading software here and we are going to analyze both of them as a part of this XTB review.
First up, it’s the good old Metatrader 4. If you know anything about online forex trading, you’ll know that this is the most popular software of its kind in the world. XTB mt4 platform is a great example of excellent design because it is very easy to use and highly intuitive. We should note that this broker is one of the first that offered this popular trading software to its clients, which means that they have years of experience and have managed to optimize the platform perfectly for its traders. There are numerous tools you can use, including trading signals, a strategy tester and much more. Truly, this XTB platform has everything you need to be a pro trader, but the other one is even better equipped.
XTB MetaTrader 4
xStation 5 is this broker’s own platform which was recognized by the trading community through numerous prizes and awards it got over the last couple of years. Naturally, its design also keeps things nice and simple, while its execution speed of just 85 milliseconds keeps it at the very top of the list of the fastest online trading platforms in the world. However, the technical features are where xStation 5 really shines because with it you can analyze advanced statistics and perform advanced analysis, as well as join the live audio feed. Furthermore, you can check out the sentiment of this broker’s clients and see the biggest movers on the market. With features like that, you simply cannot lose, but there is also something very special you can trade here. What? We’ll show you just below.
XTB xStation 5
XTB Review | Bitcoin
Yes, XTB allows you to trade Bitcoin. And not just Bitcoin, other cryptocurrencies are available on their platforms, too! Ethereum, Dash, Ripple and Litecoin are all a part of this broker’s CFD offer, so you really have a whole lot of options to explore. What makes trading these assets so intriguing is the fact that Bitcoin (and other similar currencies) has risen significantly over the last few years, and more and more people are switching to it. If you want to test things out, XTB allows you to use the demo account to see how virtual currencies behave, but we believe you’ll get the hang of it very quickly. There are also some interesting features unique to XTB Bitcoin trading you need to be aware of. Leverage, for example, goes up to 10%, but what is especially interesting is the fact that the spreads are extremely tight. Depending on the cryptocurrency you choose, they may vary from 12 pips (Bitcoin) to just 0.19 pips (Ripple), which should definitely entice you to start trading these assets. Apart from that, everything works just like all other assets on this broker’s platform. You can even trade on the go without the slightest problem. Interested? Well let’s discuss the options you have in this respect in the next part of our XTB analysis.
XTB Review | App
Yes, both of the platforms we mentioned are available as an XTB app, without any expenses, naturally. The mt4 version can be found in app stores and you can run it on both mobile phones and tablets without any problems. It is equipped with everything you need to react quickly to any change in the market, including things like the Japanese candlestick chart, various indicators and a huge number of assets.
XTB Mobile App
The other XTB app, the one based on xStation 5, once again goes a step further than its counterpart. This product is also free, but aside from tablets and smartphones, you can also use it on smartwatches! Economic calendar, market news and charts are just some of the loads of options your have here. A few taps is everything you need to get started. You can even place bulk orders if you wish to do so! Given the feedback from traders who use these mobile apps, you can’t go wrong with either of them because we’re talking about top-rated products in every sense of the word. So, no matter if you’re on the move or in front of your computer, placing trades should definitely be a pleasure. But there are more things that will make you wish you we’re this broker’s client and because of that this XTB review is not done. Stay with us and see what we mean.
XTB Review | Bonus
Getting a bonus from your broker is pretty common in this industry these days, but the XTB bonus policy has a couple of twists that are worth mentioning in this XTB review. You always want to get the best deal for your money, which is why we think this topic deserves to be discussed separately.
There are two XTB promotions you can choose from at the moment. The first one is the monthly cashback return you get from the company. Yes, at the end of each month you can get a certain amount of your money back if you have been active enough. The amount is calculated by the broker’s system and you will be notified by e-mail about how much you are eligible to receive. Once you withdraw your cashback, you will be able to use it freely however you want, so there are no restrictions you need to worry about here. What is particularly interesting about this offer is that it is fully customizable – you discuss all the details with your account manager who is tasked with helping you make the right deal depending on your trading style and the amounts you’re willing to invest in your trades.
The second option you have is the XTB refer a friend bonus. Simply login to your client office and send a unique URL you’ll be given there to your friend. You can do this via e-mail, but also via Facebook and Twitter, which makes things very easy and quick. The bonus will be awarded to you AND your friend once your friend sets up their account and makes the deposit. Depending on how much they deposit, you can get up to 600 GBP of extra funds each. This is a significant amount of money, no doubt about that, but one thing makes this bonus even better. You see, unlike many other brokers that have this kind of promotion in place, this company will not limit the number of friends you can invite! Therefore, you can have a steady income just by recruiting traders on regular basis. If you need help setting everything up, you should definitely talk to the support team and we will be discussing their capabilities in the next part of XTB review below.
XTB Refer A Friend Bonus
XTB Review | Contact
Big brokers always offer a lot of features, so it’s not very surprising that traders, especially new ones, often need someone to help them find their way around the website. In this case, the task falls to XTB support team, a group of highly trained individuals who know a lot about trading and everything about the company’s offer. Because of that, they will be able to give you the best advice and always point you in the right direction.
You can contact XTB in several different ways. Detailed information on each of their offices around the world is available on the company’s website, which includes their phone numbers and e-mails. The offices are present in numerous countries, from the United Kingdom to Chile, meaning pretty much all major languages are covered. Each office has specialized phones for issues regarding things like marketing, account opening or support in general, which makes getting the desired info much smoother and faster. Naturally, a live chat app is embedded in the website too, and the people working there always respond quickly and professionally.
XTB is also active on social networks like Facebook, Twitter and even YouTube, so you can contact them there, too. The broker also offers a wide variety of company news to keep its clients up to date at all times. Additionally, you can count on loads of educational materials in the XTB Trading Academy where you can find numerous lessons on all the most important trading topics (including CFD trading) that will help prepare for trading in the best possible way. For more advanced education, you can also check out the live webinars which occur here on regular basis. With that, we have only a few more details to mention before we bring this XTB review to a close. Want to know which celebrity is closely working with this broker? The answer is in the next paragraph!
XTB Review | More features
There are several other features we haven’t talked about in this guide yet, so let’s go through them quickly. Apart from the aforementioned news from the company, XTB also has news from the market on a separate page. There you can follow all the latest events from the world of finance because a new article will pop up every couple of hours, which means you can easily stay in touch with everything that’s going on on the market.
XTB leverage will go up to 1:200 regardless of the account type you choose to open, but this does not apply to spreads. Minimum spread is 2.0 with the Basic account, 0.35 with the Standard package and 0.28 with the Pro package. This is certainly something that can play a role in choosing your account, so you will want to keep it in mind. We should also mention that all three account types also have the same margin stop out level – 30%.
And finally, the celebrity guest of our article. You know that a broker has made it when they are able to find partnerships even outside the trading industry. That’s exactly what XTB has done by making Mads Mikkelsen their ambassador. Doctor Strange, Casino Royale and Hannibal are just some of the movies he played in and this incredibly talented man is also a passionate trader. Exquisite, cool and open to those around him, Mads is the perfect embodiment of everything XTB stands for and so these two institutions are really a perfect fit. This is probably the best possible way to finish this XTB review, so let’s wrap things up and recap what we have learned.
XTB Home Page
XTB Review | Conclusion
Loads of experience, even more features, professional service, excellent support… there are all the things this broker can offer you if you sign up. Yes, we are very pleased with what you get for your money here, so we give these guys a thumbs-up at the end of our XTB review. What delighted us the most is how financially flexible you can get here. Account types all have the same initial deposit requirement and after you activate them you have the freedom to deposit and withdraw whatever you want. Yes, there are no minimum financial requirements here! Don’t worry, you will be completely safe and supported by a group of expert traders every step of the way. Furthermore, you can choose between two excellent platforms which can also be used on the move if you so desire. They can be tested out thoroughly if you open a demo account, so you don’t have to risk any money to see whether you like trading here or not. There are also some very nice bonuses to be acquired, especially if you will be trading on regular basis here. As the final proof that this broker is indeed a reliable partner, we will mention the fact that Mads Mikkelsen is their ambassador. What else is there left to say? Just this: open an account with this company and you will definitely enjoy a superb trading experience. You simply cannot go wrong with XTB!
Author's overall rating:
Author: Ben Prescott
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