XTB or X-Trade Brokers is a leading Forex broker in Central and Eastern Europe providing online trading of over 1500 instruments including Forex, Indices, Stocks, Commodities and ETFs on two trading platforms - its own xStation and the popular MetaTrader 4. Has offices in more than 15 countries in Europe, South America and Asia.
Behind the XTB brand is XTB Limited, a UK subsidiary of XTB operated by the FCA. Its other subsidiaries are regulated by the Polish Financial Supervision Commission (KNF).
UK broker XTB must adhere to strict requirements and regulations.
For example, in order to obtain a license from a British financial controller, brokers need to provide proof of financial stability: they must have a minimum of 730,000 euros to legally conduct their business.
The FCA regulation also provides an additional guarantee for clients' funds as they are subject to the Financial Services Compensation Scheme (FSCS), which has a maximum compensation of £ 50,000 per person in the event a broker becomes insolvent.
Moreover, in May 2016, XTB Dom Maklerski listed its shares on the Warsaw Stock Exchange (WSE: XTB). A year later, the appraised value of XTB fell below $ 200 million. This was due to the new rules of the Polish regulator, which set the maximum leverage to 1:25.
The company has three accounts: Basic, Standard and Pro. The Basic account is suitable for beginners as well as for casual traders who prefer fixed spreads, while the Standard and Pro accounts provide variable spreads. Pro is designed for advanced traders, offering STP execution.
Traders can trade a wide range of assets, including 50 major, minor and exotic currency pairs, over 20 Asian, American and European stock indices, over 20 precious and base metals, energy and agricultural commodities, 200 American, English, Czech, French, German, Italian, Portuguese and Spanish stocks; and a wide range of ETFs.
Minimum initial deposit
XTB requires $ 250 as an initial deposit to open a live account.
Average spreads and commissions
This broker offers both fixed and variable spreads. Fixed rates are available on a basic account and are 2.0 pips on EUR / USD, which is the industry average. As for the variable spreads, the ones listed on the Pro account are 0.3 pips in EUR / USD, but there is a fee of 2.5 GBP / 3.5 EUR / 4 USD / 1400 HUF per lot (with each side). No commission is charged on the main and standard accounts.
The maximum leverage depends on the instrument being traded:
Forex: up to 1: 200; indexes: up to 1: 133; goods: up to 1:66; stocks and ETFs: up to 1:10.
In general, a maximum leverage of 1: 200 is considered average for the market, however some traders may want to trade with a lot of leverage. In our rating you can find brokers that offer leverage up to 1: 1000.
XTB clients are offered a choice of two trading platforms: their own xStation and MetaTrader 4, available in both desktop, web and mobile versions.
XStation is a user-friendly, fully customizable platform that comes with a calculator (instantly identifying a trader's potential profit or loss, allowing for more informed trading decisions). Traders will probably appreciate two more features of the platform: one-click trading and the ability to work directly with charts.
In addition, XTB offers the most widely used MetaTrader 4 trading platform. It allows users to fully automate their trades with Expert Advisors (EA). This is one of the reasons why most traders choose this terminal. Moreover, it offers a wide range of technical indicators, an extensive testing environment and a set of charts.
Bonuses, discounts, promotions
XTB offers many promotions to its clients:
A system of discounts is available for active traders, at the end of each month a special system automatically calculates the amount of cash back. Traders can earn up to 1.1% of their money balance every month, depending on the trading volume.
Invite a friend and you will have the opportunity to receive a bonus when your friend opens an account and meets the minimum trading requirements.
Traders can contact an XTB representative by telephone in London (UK) as well as local numbers in 11 other countries. Chat is available 24/5, email is also available.
XTB platforms regularly host training seminars on various topics of online trading. The broker does not offer a glossary or economic calendar.
Ways of payment
This broker provides its clients with the following payment methods: bank transfer, credit / debit cards (Mastercard, Maestro, Visa) and e-wallets (Paypal, Skrill, Neteller).
regulated broker; competitive spreads; STP environment; bonuses.
XTB is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker XTB makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. XTB received a score of 1 of 5 on our resource.