XTB Review: A Quick Analysis of the Main Features

The multiple-asset broker provides excellent client care service and support. Its native trading platform is xStation 5. It guarantees unforgettable trading experience. 

With over 14 years of experience, XTB is one of the largest FX & CFD exchange brokers. Currently, the company is represented in most European countries, including China, India, and CIS countries. The broker works under the supervision of several regulators. The company's website has been translated into 18 languages, but there is no Russian language in the list. Thus, the citizens of CIS may experience some difficulties though it is not a problem to translate any page using special tools.

Key points to consider: 

•  xStation platform offers perfect usability, interface, and a robust choice of trading instruments, market analysis, and advanced options. XTB is also a viable option for crypto trading.

• Since 2002, XTB has been a publicly-traded company, regulated in a single tier-1 jurisdiction. It means that this service is a safe broker for trading Forex and CFDs.

• XTB stands out from its direct competitors thanks to the customer service and support of the premium quality. It has even won some awards for th

e excellent mobile support. In 2020, XTB made it through to the first place in the national testing from locations across the UK.

The interface and navigation of the site is pleasant and clear. A block of top-quality educational materials is in place, regularly updated, as well as a section with news and market analysis. Mind that access to most materials appears only after opening an account with the company.

Trading Terms & Conditions

The broker provides the ability to trade currency pairs, commodities, stocks, indices, bonds, CFDs, and cryptocurrencies. Depending on the size of the deposit and the traded volume, the broker offers different levels of access to educational and research materials. VIP membership gives full access to all materials, traders' club, and provides a client with a personal manager. You can choose between Standard, PRO, and Islamic accounts with market execution. XTB provides negative balance protection on all account types, which will prevent you from losing more than your initial investment. The maximum leverage is 1:200. Spreads start at 0.28 pips and can fluctuate significantly depending on market conditions. The commission for 1 lot will be $4. Active traders can count on cashback from their trades.

Sign-Up Process

LC registration will take about five minutes. Enter your email address, phone number, and personal data. Then, select the account type and trading platform. To activate your account, you will need to upload scans of documents confirming your identity and address of residence. 

Trading Interface

For trading, clients are provided with MT4 and xStation 5 trading platforms, available on both desktop or mobile versions. I liked xStation 5 for its functionality and ease of use. The platform launches quickly and provides fast execution of trades. Screening tools, heat maps, mood indicators, and a built-in economic calendar are helpful. However, there are also disadvantages, such as the inability to use algorithmic trading, back testing, or custom indicators. To do this, you need to choose MT4.

Safety & Security Measures

XTB International Limited is a Belize based company regulated by IFSC (license number IFSC / 60/413 / TS / 16). In addition, the XTB Group, which includes several companies operating under the XTB brand, is regulated by the Polish KNF, the British FSA, and the Spanish CNMV. Customer funds are held in segregated accounts. Personal account security depends on the complexity of the password.

Deposit and Withdrawal of Funds

Bank transfers, payment cards, Skrill, SafetyPay, and Paysafe are used to deposit and/or withdraw funds. When choosing a payment system, pay attention to the commission, as well as the time when funds are credited. For withdrawals of funds less than $100, a fee of $30 is charged.

Research and Academia

Both in-house experts and third-party pros conduct research and interpret results for XTB. The company’s customers can access the statistics and check forecasts to decide where to invest in and how. The platform even describes some of the most effective trading strategies. The research part involves news, an economic calendar, market sentiment, and other instruments for research. XTB provides expert articles and video content on YouTube. Except for English, it is possible to find tutorials in Polish, German, and Italian.

As for the educational part, it is great as well. Plenty of posts and how-to videos are available. XTB only misses webinars at the moment. Learn to Trade part is where the dummies may start to get an overall idea of how the process flows. Pros can also find some useful materials to obtain and develop new skills and expand experience. To check your skills, you can pass the local quizzes and polls. From broad to narrow subjects, the educational section covers them all. Most of the videos placed on this website are integrated into the Premium section from within the xStation 5 web platform and mobile app.

Support and Client Care

To quickly resolve important issues on the website around the clock, 24/5 support specialists work. Yes, the reps are away during the weekends, so you’d better send them email queries during that period. You can contact support via mail, phone or a form on the website, as well as via chat in the trading platform.

If you cannot find your language among the available options (e.g., Russian), you can communicate using the translator built into the chat. To check the work of the support service, we submitted a request for consultation via email. The answer was received only a day later, which is not very prompt. Thus, expect for the days off, we recommend using live chat.

Conclusion

XTB provides a good set of tools, quality training materials, and is regulated by several regulatory bodies. However, we did not find any serious advantages with this broker. Trading conditions are generally average or above the market average. There are also complaints on the network about hidden costs, so we recommend that you carefully study the information not only on the company's website, but also in the documents accompanying the registration. The research and educational part is great, anyway.