XTB: Review, Analysis and Complete Guide
Founded in 2002, the XTB broker has physical branches across the European continent and its popularity is growing all the time. Being Forex trading its space, XTB does not limit itself to that and below you will be able to read all the possibilities that this broker offers.
Like the majority of online trading sites, XTB trades in Forex, but also allows users to open an account and engage in the trading of commodities and mutual funds, or ETFs, in a secure and transparent manner.
In addition, its experience makes it one of the safest sites you can find to invest online. Whether you’re looking to invest in real currencies like Euros or Dollars, or in cryptosystems like Bitcoin, Ripple or Ethereum, you’re sure to find what you’re looking for on XTB.
But what makes this site such an attractive option for experienced users’ opinions? Read on to find out.
XTB Pros and Cons
- Trading of real currencies and crypto-currencies (Forex), indices, stocks and commodities with the same account.
- More than 18 years of experience in the market.
- It is very safe: it has multiple licenses and regulations.
- Available to trade in the South African market.
- Very positive feedback from all over the web portals.
- Free account creation.
- Somewhat high rates for trading in mutual funds (CFDs)
XTB Financial Products
Stocks and financial products
As mentioned, XTB is primarily a Forex broker, although its financial products are not limited to currencies, either real or virtual, such as Bitcoin.
You can learn more about the products in which it is possible to invest on the official XTB website. Opinions agree that the wide range of financial products make this broker stand out from the competition.
There you will find that, through your XTB account, you can invest in CFDs, Cryptosystems such as Bitcoin and Ethereum, ETFs, spot stocks and commodities from gold to oil.
In addition, trading on physical stock markets is in a trial period and will soon be available to everyone, with the exception of the United Kingdom, Hungary and a few other countries.
In general terms, crypto currency trading such as Bitcoin is the latest trend among brokers, investors and amateurs who want to get into the world of online investing from the comfort of their homes.
Every day, more traditional brokers open their doors to this type of currency, which is relatively new, given its incredible profit potential offered to the public. Naturally, XTB is no exception.
With a wide range of crypto-currency options, user opinions agree that this is one of XTB’s great advantages over its competitors. Virtual currencies that can be traded include Bitcoin, Ethereum, Ripple, and more.
When a user decides to invest in the indices of a crypto-currency, taking Bitcoin as an example, what he is doing is basically putting his money on what he thinks is going to happen with the value of that currency in relation to a real currency, often the dollar.
Thus, that user’s account will grow if the value of Bitcoin increases over the value of the dollar, and will decrease if it does not. This makes this practice a bit risky, but with big profits, so it’s better to play it safe and do it from a regulated site like XTB.
At XTB you can invest in cash stocks, a relatively new option for an online broker. With this alternative you can invest in Spanish shares with only a 0.12% commission and a minimum of 12 ?.
Other shares that you can access are those in European and American markets, always with the same commission of 0.12% and a minimum of 10 Euros, although in the case of North America it is charged in dollars, so its minimum value would be approximately $10.
How to Open an Account on XTB
Creating an account on XTB is very simple and you don’t need to meet any other requirements than being of legal age. To begin, you must select the option ‘Become a client’ found in the upper right margin of XTB’s official website.
On the first screen you must enter your email address and country of residence and agree to the processing of your personal data. This is completely secure and is for legal and contractual reasons only.
Remember that the email must be real and in use, since from there you will have to confirm your registration. In the following steps you will be asked for some other personal data such as your postal address, telephone number and date of birth.
Then you must choose the trading platform, the account type and the currency with which it will work. This choice has nothing to do with the currencies in which you can invest on XTB, but with the type of billing when you make deposits and withdrawals.
Finally, it is necessary to provide general information about your work and financial situation and your trading experience. It is of utmost importance that all information is correct, as these applications have a logical explanation.
The amount of your net liquid assets may determine in the future the maximum limit of deposits that will be allowed for your account at XTB. On the other hand, the base currency of the account is also an important piece of information.
If the currency chosen matches your bank account, or if you decide to invest in assets in that same currency, you will not have to pay a conversion fee, and you can save money.
Requirements and verification
The account check consists of several stages. The first and simplest is to follow the check link in your email box. Then, it is necessary to verify your identity and your residence.
Verification of identity depends on your country of residence. In some cases it is possible to make a video call with XTB representatives. Other times, you will need to provide a copy of a valid document such as an ID or passport.
Scanned copies of utility bills or bank accounts are accepted for verification of residency.
One of the tools that has earned XTB the best opinions among experts and users is the freedom of action obtained by creating a demo account.
The aim of this type of account is to allow beginner brokers to become familiar with the terminology and dynamics of trading, gaining experience without running any risk.
With the demo mode it is possible to make trades, which of course are not real, in the Forex markets, cryptom currencies such as Bitcoin and Ethereum, currency pairs, commodities and any other financial instrument that is offered by XTB.
Although XTB is a Polish company with offices in more than 10 countries, it is possible to create an account from almost anywhere in the world. However, there are some notable exceptions listed below:
United States, Canada, Australia, Japan, Slovakia, Singapore, Mauritius Island, Israel, Turkey, India, Pakistan, Bosnia and Herzegovina, Ethiopia, Uganda, Cuba, Syria, Iraq, Iran, Kenya and Romania
How to Use XTB
The platform from which you will be trading is one of the main parameters to take into account when choosing a broker over another. All the brokers reviewed by Wallet Adviser allow their users to trade on Forex, and almost all of them have, among their options, Bitcoin trading.
However, they differ from each other given the wide variety of computer and mobile platforms that exist across the web. The platform is the face of the broker, and the tools available on its interface often weigh even more than the commissions and fees.
In the case of XTB, the opinions value widely the platforms available for investment; they agree in the versatility and simplicity of use that they offer.
You can choose any of two platforms by selecting XTB as your broker of choice. As we have mentioned, the tools and visualization of your account depend on the platform you choose, so you should not underestimate its importance.
On the one hand, the multi-award winning xStation 5 offers a highly user-friendly interface and a speed of execution that is superior to the competition. Specialists agree that it is among the most practical on the market.
On the other hand, the always popular MetaTrader 4, which is not exclusive to XTB but whose effectiveness is verified by the large number of brokers who have it among their options. While opinions tend to choose xStation for exclusivity, MT4 is a guarantee.
For the mobile phone, XTB has also developed its own platform. This is xStation Mobile, which allows you to invest from any place and at any time, and is available for Play and Apple Store.
The platform you use only has a subjective influence; that is, it will not change the status of your account or the options you can access. You can trade Forex with any of the platforms, the same goes for Bitcoin and all other currencies and commodities.
Research and Visualization Tools
That said, the visualization and analysis tools depend on the platform chosen to use your XTB account. You will see that each one has its features, its integrated software and its instruments for a correct and functional investment.
Of course, the great features of XTB are not affected by the platform you choose: Forex trading and trading Bitcoin in a secure way, to name a few things, are possibilities that are not subject to either platform.
So, for example, if you choose xStation 5 (the most recommended of the available platforms, according to the opinions of users and specialists) you will have high-end Forex trading tools, such as Fibonacci or RCI.
These tools allow the user to compare trends, quickly analyze information through heat-maps and carry out, in general, a safer and healthier experience in the potentially stressful path of investing in Forex.
However, MetaTrader 4 does not lag behind in its tools. Its simple and praised interface offers interactive charts and constantly updated analysis executed by specialists, which are not insignificant elements when it comes to investing.
XTB Deposits, Withdrawals, Fees and Limits
Deposit Methods and Minimum Deposit
XTB offers a wide variety of methods to make deposits into your account, and in all of them the service is free and without commissions.
The most popular payment methods are digital purses such as PayPal, Neteller or Skrill, bank transfers and credit or debit cards.
All of these payment methods are almost instantaneous, with the exception of bank transfers which can take a few days to be credited to XTB’s account.
Deposits have a minimum of $250, £250 or £250 depending on the default currency. However, this is not the same in all countries. In fact, for accounts in some regions there is no minimum amount.
One of the disadvantages of XTB is the lack of options it offers when it comes to withdrawing money, especially if we consider that deposits allow for various choices.
This is one of the reasons that concentrate the few negative opinions we have found about this broker. Unfortunately, XTB only allows withdrawals through bank transactions.
Fees and Commissions
XTB does not charge any fees for money deposits. However, some of the digital wallet options such as PayPal and Skrill may apply fees of up to 2% depending on the account type.
In the case of withdrawals, there are also no fees if they exceed US$100, £80 or £60, depending on the base currency that is associated with the account.
If the amounts are less than those amounts, however, fees of US$20, £16 and £12 respectively apply.
The policy of minimum and maximum amounts of XTB is not unified due to the need to adapt to the regulations in force in each country. To know the limit that applies to your account, you can contact the live chat that will help you instantly.
The maximum amount of money that XTB will allow you to deposit can be modified based on the financial liquidity that you declared when you created the account. However, by means of a new verification, it is possible to modify this limit.
Is XTB Safe?
Investing in XTB is completely safe for Forex trading because it takes great measures to protect its clients in all aspects. The personal and financial data of each user is encrypted with advanced technologies that make it inviolable.
But in addition to taking care of the information, they are especially concerned with safeguarding the money that brokers deposit in their accounts. In order to protect these assets, XTB deposits them in prestigious banking institutions.
They carry out annual internal audits where they evaluate the security measures and the solvency of these banks to determine whether they should continue to be associated with them.
Assets are distributed among many banks to minimize risks. In addition, XTB conforms to the system of segregated accounts, which consists of depositing client funds in accounts that are separate from the company’s own assets.
One of XTB’s main objectives is to become one of the most transparent and legal brokers in the world.
Within this policy, it is important for the company to submit itself to the control of bodies all over the world, beyond the difficulty of adapting to regional regulations.
Below is a list of the 11 countries where XTB has branches, and the corresponding bodies that authorize and regulate their operations.
- United Kingdom: FCA
- Poland: KNF
- France: ACP – Bank of France
- Germany: BaFin
- Spain: CNMV
- Czech Republic: National Bank of CR
- Slovakia: National Bank of RH
- Portugal: CMVM
- Turkey: CMB
- Romania: ASF
- Uruguay: Central Bank of Uruguay
XTB relies on the clearing scheme of the Polish National Depository For Securities. This system works as an insurance that establishes legal limits of financial compensation for clients in the event of a call for creditors.
The payment covers 100% of the funds covered by the compensation scheme up to a limit of 3,000 euros, and 90% of the remaining funds, with a maximum limit of 22,000 euros.
Good customer service must be a priority for any trading platform, as is the case with XTB. The company has three service channels with the objective of providing users with fast and effective solutions.
The first of these is the live chat. By this means you can communicate live with specialists who will help you solve any problem that may arise in your account, whether it is related to registration or financial operations.
In addition, they have a contact email which, as we have seen, also provides immediate answers. Finally, the telephone service works between 9 a.m. and 7 p.m., every day of the week.
The latter method is the least recommended, as it can easily become saturated during the busiest market hours. However, XTB’s live chat has received very good feedback for its effectiveness in solving problems.
These tools are replicated in 20 help centers located throughout the world in more than 15 languages. It should be mentioned that many of the queries are usually solved by consulting the FAQ section.
Finally, it is also possible to contact XTB representatives through their official accounts on social networks such as Facebook, Twitter and YouTube.
If you’ve come this far, you already know how XTB works and the investment possibilities it offers.
However, it is often more useful to pay attention to the opinions and comments of users who have invested in XTB. That’s why we show you some experiences below:
Jose M.: ‘I learned to trade Forex thanks to XTB’s Trading Academy. There is no doubt that my success is due to them’.
Oscar B.: ‘I created my XTB account because it’s free and I had heard very good opinions from my friends. They all increased their income by investing in Bitcoin’.
Rafael S.: ‘I have used several online brokers over the last few years. Among them all, I highlight XTB for the quality of their educational materials’.
XTB’s Alternatives and Competitors
XTB is an ideal broker for a large proportion of users, thanks to the remarkable variety of trading possibilities it offers the public. Far from being limited to Forex only, at XTB you can invest in virtual currencies, such as Bitcoin, and all kinds of commodities and stocks.
However, and naturally, XTB is not the only broker out there. A large proportion of the most important web brokers in Europe and the world have been reviewed in Wallet Adviser, and the articles are included in the following list of links:
Our Selection Best Broker Forex - 2020
Open an account
No minimum deposit
|See offer Go to eToro|
Open an account
No minimum deposit
|See offer Go to Plus500|
Open an account
No minimum deposit
|See offer Go to XM|
Open an account
No minimum deposit
|See offer Go to XTB|
Open an account
No minimum deposit
|See offer Go to IG Markets|
Conclusion About XTB Service
XTB is a recommended broker. It is modern, versatile and offers a remarkable range of options. Experienced users express, through their opinions, that few brokers offer the investor as many freedoms as XTB.
Of course, XTB is not perfect, but the high fees it imposes on CFD trading is perhaps a fair price to pay for the enormous quality of trading platforms that come with a standard account.
On this last point it is necessary to emphasize, once again, the great benefit of being able to choose the platform from which to trade. The best thing to do is to try both and choose the one you feel best for, as this is a purely subjective choice.
XTB is an ideal broker for experienced and novice investors, as it offers ideal tools for taking the first steps, but also for making conscious and complex financial decisions. Frankly, it seems to have it all.
It is difficult to think of a broker that outperforms XTB, at least from a subjective point of view. What is certain is that here you will not have problems or feel the fact of investing in Forex as a cumbersome or difficult process to face.
Forex trading is risky, especially when it comes to Bitcoin. As for other types of trading, they all have their risks, but the smartest thing to do is to limit those risks to the intrinsic action of stock investing, not to a dubious interface.
The above opinions speak for themselves: XTB is a safe and reliable place to invest, assuming purely the risks of Forex trading and nothing else. It is a broker that is certainly recommended for the wide spectrum of web investors.
XTB Technical and Characteristic Data Sheet
|Countries where it is regulated||10|
|Time to open account||1 day|
|Bank card deposit|
|Deposit with electronic wallet|
|Demo account available?|
|Easy to use platform?|
Frequently Asked Questions about XTB
XTB is a trading platform specializing in Forex and CFD stock trading, but also allows you to invest in crypto-currencies, currencies and many other financial instruments.
XTB works as an online broker for anyone who wants to invest in a secure way. To start using it you just need to create an account and make an initial deposit.
To sell your shares, Bitcoins or currencies on XTB you must log in and choose the desired operation in your portfolio. Then, you must choose to close the trade. Please note that some sales depend on the time the markets are open.
Making money on XTB requires making investments that increase its value after you have purchased it. It is as simple as ‘buy cheap and sell expensive’. To help you make money, XTB offers tutorials, seminars and a dedicated account executive to help you.
Yes, XTB is totally safe. In addition to using segregated accounts to protect users’ money, it is a member of a compensation scheme that legally protects brokers by providing insurance against fraud and other types of inconvenience.
XTB is regulated by many of the world’s leading control agencies such as FCA, KNF, CNMV and CMB, which makes it particularly safe. In this guide you can find XTB’s records and license numbers for each country.
Sure. Bitcoin, as well as other crypto currencies such as Ethereum and Ripple, is among the products in which you can invest through XTB.
Be sure to visit our homepage to learn all about web brokers for forex trading. Good luck!