XTB Review in 2020

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XTB review


XTB Review in 2020

At Top10best.io, we strive to help you make informed decisions about financial matters. We provide you with detailed review of brokers and financial brands in the market.

By the way, we’re 100% free to use & fully independent
Trusted by thousands


XTB review XTB Review:
Best CFD & Forex Broker in 2020 (Low fees)


As one of the best forex brokers and CFD brokers in europe, XTB is well-known as a Poland based trading company, In fact they have been in the market since 2002.

In the United Kingdom, XTB is governed by (FCA): Financial Conduct Authority. In Cyprus they are under governance by Securities and Exchange Commission (CySEC). There are 2 other authorities: first one is (KNF) the Polish Financial Supervision Authority and last one is the International Financial Services Commission of Belize (IFSC)

Let’s not forget that other customers are served by a Cypriot entity which is governed by (GySEC) also known as the Cyprus Securities and Exchange Commission.

In terms of safety, even though they do not hold a banking license, XTB is listed on stock exchange. They maintain a good reputation as a safe broker.
The portfolio of products and services that XTB offers are mainly around Forex, CFD, Crypto, Real stocks. They also offer ETFs but only to European customers We have analysed over 31 Tier-1 online brokers & online trading paltforms, and rated XTB as an option for:

  • Best broker for cryptos
  • Best forex broker
  • Low fee (easy deposit & withdraw)
  • You can also find other options and review the best forex brokers or glance through our list of best CFD brokers that our editorial team has reviewed this month, alongside other online brokers.

    XTB pros and cons

    Since 2002. XTB offers commission-free stock and also ETF trading, but they also low fees for those who are residing outside Europe.

    Using their online trading platform is easy and account opening process is pretty fast and smooth. They have fast and free of charge withdraw process. When it comes to fees, forex and stock index CFD fees are pretty much low.

    There is always a flip side of the coin and it is XTB's slow response rate on Email. Remember, They have limited portfolio and stock CFD fees are high.

    If you wish to compare XTB with other alternativve online Brokers, click here, otherwise keep reading.



    best cfd broker
    Best broker for
    Forex & CFD
    Trade Now

    Account Fees:

    NO

    Minimum deposit:

    $250 in UK

    Withdrawal Fees:

    Free

    Investor Protection:

    £85,000 for UK residents, €20,100 for non-UK residents, €20,000 for Italy, Cyprus, Hungary

    Regulated:

    YES, UK, Cyprus, Poland, Belize

    Customer Support:

    Live Chat, Phone, Email

    Demo Account:

    YES

    Trading Options:

    CFD, stock
    ETF, Crypto
    Forex

    Expert rating:

    Online Trading Platform: Desktop, Mobile, Web

    Commission rating:

    Research rating:

    Education rating:

    Overall Ranking:

    4.57 / 5

    Deposit & Withdrawal Type:

    Free / Bank Transfer, Credit/Debit card, Electronic wallets

    Open Account

    XTB Pros and Cons

    Since 2002. XTB offers commission-free stock and also ETF trading, but they also low fees for those who are residing outside Europe.

    Basic online trading platform review could be about account opening which is pretty fast and smooth. They have fast and free of charge withdraw process. When it comes to fees, forex and stock index CFD fees are pretty much low.

    There is always a flip side of the coin and it is XTB's slow response rate on Email. Remember, They have limited portfolio and stock CFD fees are high.

    If you wish to compare XTB with other alternativve online Brokers, click here, otherwise keep reading.


    How Much is XTB Fees

    There are Pros and Cons here too.
    The fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into spread.
    ✓ For S&P 500 CFD the fee is 0.6 average spread cost, which is considered to be low.
    ✓ For Europe 50 CFD the fee is 2.2 average spread cost, which is considered to be low.
    ✕ For EURUSD the fee is €3.5 /£2.5 /$4 for each lot for PRO accounts, which is considered to be low.
    ✓ There is no inactivity fee which is also considered good.


    TIP: In reality it can take couple of business to deposit via bank transfer, Yet credit card and debit cards are done instantly.
    Some other positive points are:


    best cfd broker
    Pros

    Free and no cost deposit and withdrawal

    Low forex fees

    Low stock index CFD fees

    Opening account is fast and seamless


    best cfd broker
    Cons

    Good CFD and Forex portfolio but lacking other options

    Don't expect fast response time on Emails

    High CFD stock fees



    Trading Vs Non-Trading fees

    Thats not all the fees
    As you can see in the table above we ranked XTB fees (in the table in 3 different categories: from low, average to high) compare to 2 other competitors and brokers: IG and eToro
    Well, you need to keep an eye on broker fees such as trading fees and non-trading fees too.

    Trading fees are very easy to understand. Those fees are there only when you trade anything.
    Trading fees come in formes of:

  • Commissions
  • Spreads
  • Financial Rates
  • Conversion Fees
  • Now it's time for Non-trading fees
    These charges are not 100% related to what you trade. You have seen them in the table above. they are fees such as withdrawal and inactivity fees.

    XTB

    Best Online broker for CFD, Forex (Low Fees)


    4.57

    Minimum Deposit

    $250

    Trade Now

    XTB Trading fees

    XTB, which is primarily known as a forex or CFD broker offers 2 types of accounts. as standard account holder you pay spreads and as pro account you shall pay commissions which is $4/€3.5/£2.5 per every lot. The commission for trading stock index CFDs is $8/€8/£8, for ETF CFDs and stock contract for difference.
    Let's deep dive and have a look at XTB's fees for stock, forex and CFD fees. we will also run a comparison table with two big brokers to show you the difference.
    The Scenario is running this way: A typical trade means buying a leveraged position, holding it for 7 days and only sell after that period.
    * Volume: a $2,000 position for the stock Index
    * Volume: a $2,000 position for CFD
    * Volume: $20,000 for the forex transactions.
    The leverage in this scenarios is:
    • 20:1 stock index CFDs
    • 5:1 CFD
    • 30:1 forex
    • Stock CFDs are Apple & telecommunication giant Vodafone


    Here is the tabular view of XTB's fees and side by side comparison with other 2 brokers.


    CFD Scenario

    Benchmark Fees

    XTB

    IG

    eToro

    S&P 500 CFD

    $2.0

    $2.1

    $2.4

    Europe 50 CFD

    $2.2

    $1.6

    $2.7

    Apple CFD

    $17.9

    $31.9

    $6.3

    Vodafone CFD

    $20.9

    $25.7

    ---


    Stock Index Scenario

    XTB

    IG

    eToro

    US Stock

    $10.0

    $15

    $0

    UK Stock

    $10.0

    $9.6

    $0

    German Stock

    $8.8

    $11

    $0.0


    Forex Scenario

    Benchmark Fee

    XTB

    IG

    eToro

    EURUSD

    $15.0

    $16.9

    $19.6

    GBPUSD

    $11.1

    $15.1

    $16.2

    AUDUSD

    $10

    $14.1

    $12.4

    EURCHF

    $6.6

    $6.6

    $11.8

    EURGBP

    $9.9

    $11.1

    $19.9


    One good thing about XTB is that it operates in majority of countries and except UK citizens which their minimum deposit is $250, there is no requirements for other countries.
    To start trading XTB does not charge any deposit fees, but you ought to remember that in order to deposit money you have to use funding sources that are in your own name. If you are ready to trade, go ahead and use the live account, If not XTB offers a demo account to practice..


    XTB's Online Trading Platform

    XTB has all 3 platforms, mobile, desktop and web platforms. One fun part is the search functionality. They have an inhouse online trading platform called (xStation 5)or you may use the 3rd party tool called MetaTrader 4)

    If you want to trade on to go, you may use mobile trading platforms on your android and ios device. it gives you the flexibility of mobile as well as some cool features such as push notifications or enhanced touch experience to act by swiping right or left.
    To add more security and protect your account, you can setup two-step login feature in your profile.
    The UI & UX of XTB trading platform is unique and user friendly.
    At a glance it looks like this:



    You should not be worried if English is not your strength, because XTB online trading platform is available in the following19 languages: In middle east it covers Arabic, Bulgarian, Simplified Chinese, Czech, French, German, Hungarian, Italian, Japanese, their origin language of Polish, then Romanian, Russian, Slovenian, Portuguese & Spanish languages, Thai, Turkce for Turkish citizens, Vietnamese and of course English.

    When it comes to trading, customer service plays a good role.
    Overall, XTB customer support team responds not that fast via email (but they answer Phone calls). They have a live chat and offer help in English.

    XTB

    Best Online broker for CFD & Forex Ttrading


    4.57

    Minimum Deposit

    $250

    Trade CFD Now

    What can you trade on XTB

    Products, Portfolio and Markets

    The trading options that are available to you at XTB are:

  • CFD
  • Forex
  • Real Stock
  • ETFs (Limited to European)
  • When you buy with no leverage (leverage=1) you buy real stocks and not contract for difference. That's why Non-leveraged buy positions for equities, ETFs and cryptocurrencies (digital currency) are traded as real assets. (Be aware of the risks of price movements / we have no info at this moment about fiat currencies)
    All other positions are kind of contract for difference (this applies to cfd traders). An example could be leveraged buy positions and all sell positions of stocks, ETFs and cryptos as well as all forex, commodities and indices positions.

    Tip: Changing the leverage manually is a very useful feature when you want to lower the risk of a trade. For instance, rather than trading with X:1 leverage (x higher than Y), only trade with Y:1 leverage for stock CFDs. Please be reminded that forex and CFD trading default leverages are high, don't gamble.



    best forex broker Trade Online Now Important Tip: You can not change the default leverage level of the products.

    Currency pairs:

    49

    Stock index CFDs:

    42

    Stock CFDs:

    1700

    ETF CFDs:

    103

    Commodity CFDs:

    18

    Bond CFDs:

    3

    Future CFDs:

    --

    Cryptos:

    25


     

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
    Disclaimer: Indicative prices; current market price is shown on the broker's trading platform. Past performance is not an indication of future results. The trading history presented is less than 5 years old and may not suffice as a basis for investment decisions. This post is not investment advice.



    How to open account on XTB.


    You can expect a very easy, smooth and professional process to open your account with XTB. All you need is an email or a social platform login
    You don't want to wast time, so do they. therefore, you will get your account opened in 1 day.
    You can immediately use your demoaccount with 100K credit in it.

    However, if you decide to move forward as a trader and work with real money and real shares or trades, get ready to provide your passport or ID along with proof of residency (something like a utility bill or bank statement). In some cases a video verification might be asked too. Well, its more than easy to place an order and you will be guided throughout the process.
    As you can see in the image below, you will be prompted with easy to use wizard for getting onboard with XTB.

    in brief follow these 7 steps for account opening at XTB:

    1. Get ready with you email address
    2. Select the country of residency.
    3. Provide demographic data
    4. Choose your preferred online trading platform
    5. Select your account type & base currency.
    6. Explain your trading experience and provide employment history
    7. Provide identity and residency proof for activation.

    XTB review

    Performance Tracking

    Tip about away times:
    You can set alerts and notifications on XTB and customise it. For instance, your alert can be set for a time that an asset reaches certain price target, or for fulfilment of order.
    No matter you use desktop, web or mobile for your trading, you can get different kind of notifications.

    I will put it simply, whether you need a pie chart, or list of assets, you can easily generate it and track the performance of your portfolio in XTB, It's kinda easy and you can see a structured cash flow and other financial related reports.
    Follow this path:

  • Navigate to portfolio
  • Then History
  • Access your account statement

  • XTB offer new feed too and it is all produced by in-house research team. In 2018, they managed to please the jury and be awarded by Bloomberg as Best EMEA FX Forecast. What you can expect is a combination of economic calendar data release, what trader's talk recommendations, and a bit about market development.

    XTB review
    Finally, Research & Education

    Alright, if you are looking for fancy videos and a lot of videos to begin with, top 10 best is a much better resource since we have hundreds of pages and detailed reviews and tools, guides and articles (We do not offer investment advice and guarantees).
    XTB education is fair. You will get a demo account and sufficient balance to begin practicing.
    The Research part however is comparatively strong. for instance, they have a feature called 'Market sentiment' that illustrates the log and short positions of percentage of the clients. XTB offers one more fancy tool called the 'Heatmap,' that visually shows the winners and losers.
    On the Contrary, when it comes to research it offers decent technical analysis tools (in 21 languages) that engages you with good UI and user friendliness environment, nice interactive charts, and some recommendations about analysis and ideas on trading.
    for instance, only for a limited number of well-known products, there are recommendations such as hedge fund and insider trading sentiment, or (buy/hold/sell) also known as analyst consensus, and average price target analysis.

    The charts and charting feature is pretty good. It saves automatically and let you play around with around 70 indicators.

    Our Take


    After careful evaluation, we believe XTB is among top-tier CFD and forex brokers in 2020.
    Couple of reasons could be it's regulation, as it is supervised by several financial authorities globally. It is publicly listed on the Warsaw Stock Exchange.

    Good thing is that XTB's fees on forex and stock index CFD are low, and they allow you to withdraw for free and it's done pretty fast. No need to talk about the fully automated account opening process.
    On the negative side, XTB's stock CFD fees are rated as high. XTB is good for FX and CFDs but does not offer much of other options to trade, especially if you are outside Europe.


    XTB

    Best Online broker for CFD & Forex


    4.57

    Minimum Deposit

    $250

    Start Trading