Review

XTB.com: What Does The Modern Platform Offer Traders?

Published: April 3, 2018July 5, 2020

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Author

Lawrence Pines

Last Updated on July 5, 2020

Risk Warning: Your Capital is at Risk.

Overview

XTB is an online brokerage firm that provides customers a trading platform for Contracts for Difference (CFD) trading. CFDs are derivative securities that allow traders to speculate on the price of assets without actually holding them in their accounts. Alongside forex, XTB's CFDs markets include indices, commodities, shares, ETFs, and cryptocurrencies.

Traders have a choice of two trading platforms – the XTB's web-based xStation 5, xStation Mobile, and MetaTrader4 (MT4) platforms. XTB Traders can access to over 1,500 instruments and demo account options with all three.

XTB focuses on customers in Eastern and Central Europe, but traders in Western Europe can also open accounts with the broker.

Read on to find out more about XTB's services as a broker, including a platform review.

XTB - Essential Information

Overview	Award-winning forex and CFD broker
Our Overall Rating
Broker Trust Rating	80/100
Founded	2002
Products	CFDs, Forex ()
Markets	Indices, Cryptocurrencies, Commodities, Shares, ETFs
Countries Served	Central and Western Eurpe, including Germany, France, and Portugal (Read more)
Minimum Deposit and Fees	£250, €250 or $250(See all fees below)
Regulator(s)	Financial Conduct Authority (FCA), Komisja Nadzoru Finansowego (KNF), Cyprus Securities and Exchange Commission (CySEC), International Financial Services Centre (IFSC) (See regulatory info)
Customer Support	24/5 customer support by email, live chat and phone
Demo Account	Free 4 week demo with 100,000 demo credits

Background

Here is a brief overview of XTB's history as a broker.

• 2002 – XTB was established under the name of X-Trade.
• 2004 – X-Trade merged with XTB to comply with new regulations in the Polish market
• 2005 – the KNF (Polish Financial Supervision Authority) granted the firm permission to offer brokerage services on all financial products.
• 2007 – X-Trade Brokers became a member of the Warsaw Stock Exchange and the Polish National Clearinghouse, opening new offices worldwide.
• 2009 – X-Trade Brokers re-branded as XTB Online Trading
• 2010 – New offices in the UK and Turkey
• 2016 – XTB successfully listed on the Warsaw Stock Exchange.
• 2018 – XTB undergoes CySEC investigation
• 2020 – XTB fined for €200,000 by CySEC

XTB is regulated by several financial regulatory agencies.

XTB offers customers dedicated 24/5 customer support by email, live chat, and phone. Traders can view the website in multiple languages and contact the firm 24/5 in several languages through local phone numbers for its regional offices.

Where Does XTB Operate?

IMPORTANT: CFDs are not available in the USA due to local regulation, and regulated brokers do not accept US citizens or US residents as clients.

XTB has focused on growing its business in key Central and Eastern European countries, including Hungary, Italy, Romania, Slovakia, Cyprus, Poland, Spain, the Czech Republic, Turkey, Portugal, France, and Germany.

In addition, however, the company has expanded into new markets including Latin America. XTB offers its services in the European Union on the basis of the ‘single EU passport’.

XTB's offers trading services worldwide in well over 100+ countries (based on their regulators), though the list of accepted and restricted regions is unclear. Traders are advised to check with the XTB support team whether their respective jurisdictions are supported.

Restricted countries include Iran, North Korea, Canada, Brazil, Hong Kong, and the US.

It is available in the following languages:

• Spanish
• Czech
• German
• Italian
• Hungarian
• Arabic
• French
• Romanian
• English
• Chinese
• Turkish
• Portuguese
• Polish
• Russian
• Slovak
• Greek
• Thai
• Vietnamese

Can I Trust XTB?

XTB is regulated by four official bodies:

• Financial Conduct Authority (FCA)
• Komisja Nadzoru Finansowego (KNF)
• Cyprus Securities and Exchange Commission (CySEC)
• International Financial Services Centre (IFSC)

While XTB is a regulated online broker, it must be noted that the firm was accused of and investigated for fraudulent activity. The broker is operating as normal and is still regulated by the aforementioned bodies.

The investigation specifically focused on XTB’s engagement in asymmetric slippage practices. Specifically, this practice involves treating pending customer orders differently depending on how the market moves.

Polish regulators accused XTB of executing customer orders when the market moved in the brokerage firm’s favor but canceled and repriced orders when the market moved in the customer’s favor.

The firm was fined a fee of €200,000 in 2020, but continued to deny the allegations.

XTB Trading Products

XTB offers retail customers over 2,000 financial instruments in forex and CFDs. XTB divides the products it offers to traders into six categories: forex, indices, shares, ETFs, commodities, and cryptocurrencies.

Forex

XTB provides its traders with access to about 48 forex pairs, including major currency pairs, minors, and exotics.

*These spread values only apply to traders who use the xStation platform.

Indices

XTB offers a total of 42 index CFD markets :

*These spread values only apply to traders who use the xStation platform.

Shares

XTB offers trading in CFDs on more than 1,700 shares of companies traded in the following countries:

• Belgium: Cofinimmo SA, bpost SA, Solvay SA, Barco NV
• Czech Republic: Komercni Banka AS, Philip Morris CR AS, Erste Group Bank AG
• Denmark: Pandora A/S, DSV A/S, Vestas Wind Systems A/S
• Finland: Tieto OYJ, Metso OYJ, Orion OYJ
• France: Safran SA, Orpea, Legrand, IPSOS
• Germany: Vonovia SE, Krones AG, Leoni AG, Puma SE
• Italy: Biesse SpA, DiaSorin SpA, Ferrari NV
• Netherlands: Heineken NV, Unilever NV, TomTom NV
• Norway: Mowi ASA, DNO ASA, Norwegian Air Shuttle ASA
• Portugal: Banco Comercial Portugues SA, Sonae, Jeronimo Martins SGPS SA
• Spain: Ercros SA, Talgo SA, Vidrala SA
• Sweden: ABB Ltd, Nokia OYJ, Electrolux AB, Boliden AB
• Switzerland: Geberit AG, SGS SA, Novartis AG
• UK: Aston Martin Lagonda Global Holdings PLC, Domino's Pizza Group PLC, AA PLC
• US: Tesla Motors Inc., Colgate-Palmotive Co, Nucor Corp, Apple Inc

ETFs

XTB offers over 100 exchange-traded funds to trade.

Commodities

XTB offers 22 commodity CFDs traders can choose from.

Cryptocurrencies

With XTB, traders can make a selection from 25 cryptocurrency markets, including crypto pairs.

XTB Account Types

XTB offers two types of accounts: standard and pro. Here are the main differences between the two accounts.

	Standard	Professional
Maximum Leverage	30:1	30:1
Minimum Spread	0.35	0.28
Negative Balance Protection	Yes	Yes
Minimal Order	0.01 lot (ETFs and Shares)	0.01 lot (ETFs and Shares)
Automated Trading	Yes	Yes
Account Setup	Free	Free
Trading Platforms	xStation & MT4 WEB, DESKTOP, MOBILE, TABLET, SMARTWATCH	xStation & MT4 WEB, DESKTOP, MOBILE, TABLET, SMARTWATCH
Account Setup & Management	Free	Free
Forex, Indices, Commodities	No commission	Commission from 3.00 GBP per lot
Stocks	N/a	N/a
Stock CFDs and ETF CFDs	Commission from 0.08% per lot	Commission from 0.08% per lot
Cryptocurrencies	No commission	Commission from 3.00 GBP

Traders can also open a demo account, where they can trade risk-free for four weeks with £100k in virtual funds.

Fees, Funding, and Spreads

XTB fees and commissions depend both on the instrument traded and the type of account. For some products, such as forex or index trading with a pro account, XTB spreads are competitive.

Additional fees and costs are based on the instruments traders want to trade and the type of account they open.

Basic account holders can use guaranteed stops, and this protection comes with wider trading spreads.

Deposit and Withdrawal Methods

Traders can deposit and withdraw funds via:

• Credit/Debit card
• Bank transfer
• E-Wallets: PayPal, Paysafe (formerly Skrill)

The minimum first deposit is $/€/£250.

Credit card and e-wallet transfers take around 24 hours, while bank transfers arrive within 3-5 working days.

Note: If your nominated bank is in a different currency to your trading account, the bank converts the amount at their rate or upon payment receipt.

Before executing deposits and withdrawals, traders must undergo an account verification process.

General Fees

XTB may charge some generic fees, ones traders should be aware of:

• Deposit Fees (E-Wallet): 2% of deposit with USD, 5% of deposit with HUF
• Withdrawal Fees:
  • $20 for withdrawals under $100
  • €16 for withdrawals under €80
  • £12 for withdrawals under £60
  • 3,000 HUF for withdrawals under 12,000 HUF
• Monthly Account Maintenance Fee: Up to 10 EUR (Only applies to previously active traders if no trades were made within 365 days or no deposits within 90 days)
• Penalty interest: Outlined in Terms of Business clause 24. Essentially, XTB deducts any late penalties from traders’ accounts. These include bank charges or in the case of legal action, court fees, and the like.

Commissions

All retail traders pay commission when trading stock CFDs and ETF CFDs. The following charges apply:

• Transaction Fee: 0.08% of the trade amount
• Dividend Deductions: Up to 35% of the asset's dividend's equivalent

Professional Trader Fees

XTB charges professional traders the following fees for opening and closing positions (charges incurred per lot, excluding Stocks CFDs, ETF CFDs, and Cryptocurrencies):

• 3.00 GBP
• 3.50 EUR
• 4.00 USD
• 1,200 HUF

Professional traders are also charged a €3.50 transaction fee when opening and closing a cryptocurrency CFD trade.

Other Fees

Italy FTT (financial transaction tax): All transactions on share CFDs from Italy, ITA.40, which are based on Italian equities, are subject to FTT (financial transaction tax). Tax is charged as a fixed fee related to notional transaction value.

The scheme below presents notional transaction value brackets and related tax values:

• Up to €2,500: €0,25
• €2,500- 5,000: €0.5
• €5,000- 10,000: €1
• €10,000- 50,000: €5
• €50,000- 100,000: €10
• €100,000- 500,000: €50
• €500,000- 1,000,000: €100
• Over €1,000,000: €200

Account Requirements

After you click the green ‘Create Account‘ button the website, XTB asks you a few questions including your name, phone number and National Insurance Number. XTB then asks you for your postal code and address.

Traders are then asked to choose a trading platform (xStation 5 or MT4), an account type (see above), currency, and language.

The next XTB screen asks you for basic information like:

• Estimated annual income
• Net worth
• Occupation
• Expected annual trading volume
• Source of account funding

On the following screen, XTB asks you a few basic questions to determine your level of experience and knowledge about CFD products.

Account Verification

XTB then takes you to the main trading screen where they ask you to activate your account. In order to activate the account, traders must pass the XTB identity verification. You will need to upload both an ID and proof of residence. The ID must be one of the following:

• Identity Card
• Passport
• Driver’s License

You can take a picture of their ID card and upload it to XTB using their mobile phone. The document confirming proof of identity should not be expired and must show the whole document (with all 4 corners).

Traders must pass the address verification and submit a recent utility bill to XTB that contains the applicant’s current address.

To deposit funds, traders need to click on the deposit funds tab at the top of the site, and they are taken to the client office where they can choose from several deposit methods.

Margin Requirements

XTB offers different amounts of leverage depending on the CFD product, but the maximum leverage on all three types of accounts is 1:200.

Traders should visit the XTB website for specific leverage allowances for each product. Each CFD also has specific XTB margin requirements that traders must maintain.

Traders who fall below the XTB margin requirements risk receiving a margin call and having their position closed prematurely.

XTB Platform Review

XTB offers traders options for trading. Traders can choose xStation 5, which is the broker’s proprietary multi-asset platform, or the industry-standard MetaTrader4 (MT4) platform. Both platforms offer mobile trading options.

This review will cover the xStation 5 platform.

Dashboard and Asset Browsing

XTB's custom trading application, xStation 5, has the look and layout of many other trading platforms.

The main screen has menus, watchlists, charts and notifications.

The platform launch speed was relatively quick and navigation between the different panels was seamless. The Market Watch section facilitates easy trading by populating the screen with a brightly color-coded trade ticket each time you click on a new symbol.

The system allows for easy access to market sentiment indicators, heat maps, top movers and an ETF scanner. Below is the nicely color-coded heat map:

Customization and Trading Tools

xStation 5 offers many industry-standard tools such as position monitoring, account summary, news, and calendars. One feature that stood out was the integration of educational tools within the platform.

Traders can click on this section and find videos on Trading Basics as well as more advanced videos on Trading with Legends.

One of the very limiting features of the xStation 5 is its lack of tools for automatic trading and back-testing strategies. There also don’t appear to be tools for creating custom indicators.

MetaTrader 4 (MT4)

XTB supports MetaTrader 4, a popular software with many online brokers.

MT4 can be used as a web-trader in a browser or traders can download it on Windows desktop, as well as iOS and Android devices. The software offers technical trading tools, strategy testing and automation, and custom indicators.

XTB Demo Account

Traders can open a demo account with XTB. The demo account expires four weeks after opening and is pre-loaded with £100k in virtual funds. Traders can choose either xStation 5 or MT4 for their demo account. Once opened, traders can toggle back and forth between the real and demo accounts:

The screen layout is identical to the real account.

Learning Resources

In addition to the in-platform educational videos, XTB has a Trading Academy section on its website dedicated to teaching traders of all levels. The site lists four categories: basic, intermediate, expert and premium.

However, only the first two categories contained material. XTB noted that the expert category is in development, and we couldn’t find information on the premium offerings.

Topics in the intermediate section covered a range of both fundamental and technical topics:

The site also hosts a live webinar section with a calendar of upcoming events and a trading glossary with terms used in CFD and forex trading.

xStation Mobile Platform Review

Mobile traders can download xStation Mobile on iOS and Android devices. Upon opening the application, traders are welcomed by the asset browsing screen where instruments are listed.

Instruments can be added by tapping the ‘+' sign in the top right corner of the screen. The top bar of every tab shows the:

• Account balance
• Active margin percentage
• Profit/loss standing

Executing Trades

The trade execution screen is has the same features as the desktop version with the options to:

• Buy or sell
• Set profit/loss limits
• Combine the asset with existing open positions of the same asset
• Price alerts
• Price statistics

Managing Positions

Traders can manage open, pending, and closed positions under the ‘Portfolio' tab. Thumbnails show the instrument name, volume, and net profit/loss.

Those wanting to switch over to a live account can tap the ‘Open Account' button on the top left of the screen.

Market Sentiment

The sentiments tab allows traders to keep track of market performance. The custom sentiments feature also allows users to add personalized sentiments for insight.

Sentiments can be customized by adding filters to weave out the preferred asset classes.

Mobile Account Menu

The mobile account menu is located under the ”More' tab, from where traders can access:

• News
• List of top movers
• Learning resources
• Deposit and withdrawal menu
• Profile settings
• Customer support

XTB Alternatives

Traders looking to see alternative options may want to see the brokers below.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 72.0%-83.0% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FAQs

Those interested in further details about XTB as a broker may find useful information below.

Who is XTB regulated by?

XTB is regulated by four different regulatory bodies, the Financial Conduct Authority (FCA), the Polish Financial Supervision Authority (KNF), Cyprus Securities and Exchange Commission (CySec), and the International Financial Services Center (IFSC). We cover regulatory information in more detail in this article, along with the countries XTB operates in.

What trading platforms does XTB offer?

XTB offers three different trading platforms. The primary platform xStation, is web-based, while xStation mobile is available on mobile devices and tablets for both iOS and Android users. The third trading platform supported by XTB is MetaTrader 4, one aimed at traders who prefer advanced trading tools and automation features.

What Cryptocurrencies can I trade with XTB?

XTB offers 25 different cryptocurrency assets to trade, among which you can find Bitcoin, Ethereum, Bitcoin Cash, Dash, EOS, Ethereum Classic, IOTA, Litecoin, NEO, Ripple, Stellar, and TRX. The asset classes include individual cryptocurrency CFDs, and cryptocurrency pairs like IOTA/BTC, EOS/ETH, and ADA/BTC.