XTB Review 2024: What you need to know?

In summary, I wholeheartedly recommend XTB. It is a superior and highly reliable brokerage platform suitable for both novice and expert traders keen on exploring various financial instruments.

Pros and Cons of XTB

While exploring the platform, I was able to identify some of the advantages of using XTB as a broker, as well as some areas where it’s lacking.

Pros

• They are backed by several top-tier regulatory authorities.
• Comprehensive training resources and responsive customer services.
• Multiple trading assets with a wide range of instruments.

Cons 

• Information is scattered and not properly organized for navigation’s sake.

Leveraging the criteria detailed below and additional indicators, I’ll evaluate XTB, a well-known broker that has experienced substantial growth over time. We’ll explore factual data about the firm and cross-reference it with online reviews to gain a comprehensive understanding of its performance.

• Years of operation in the world financial market.
• License from a regulatory authority.
• Several experienced participants (pro traders) who use the company’s services.
• Range of services.
• Ability to contact real representatives of the company.
• How easy it is to navigate and use the platform by novice traders.

Regulation of activities

The presence of regulatory authorities overseeing a company’s operations, especially concerning the handling of clients’ funds, is a key measure of reliability for me.

If you’re questioning whether XTB is properly regulated and compliant, rest assured that this is a non-issue. XTB International Limited, a trademark of XTB Groups, is regulated by the Financial Services Commission in Belize (FSC License No.: 000302/438).

There are other entities operating under the XTB trademark. Depending on your geographic location or place of residence, the XTB platform you use may vary. Here’s a list for you to reference:

• If you’re in Poland, XTB S.A. is authorized and regulated by the Komisja Nadzoru Finansowego (KNF).  
• If you’re based in the United Kingdom, XTB Limited is authorized and regulated by the Financial Conduct Authority (FCA).
• Those in Spain use XTB Sucursal and which is regulated and authorized by Comisión Nacional del Mercado de Valores.  

As you can see, XTB is regulated by several authorities, which shows a level of commitment to serving its users. With a long list of regulators supervising the activities of the professional trading site, there’s a guarantee of safety. This should give you added confidence and conviction in the platform services.

For you as an analyst, this level of regulation is sufficient to register with the site without fear of fraudulent activity. Depending on the jurisdiction of the regulatory authority, they have different capacities and what they seek in brokers.

Trading conditions

As a trader trying out XTB for the first time, there are some requirements and conditions you need to be aware of. These are the following:

• Minimum deposit of $250.
• The minimum account is unlimited.
• There is no Islamic account.
• Certain transactions have a commission (0.08% of the lot amount or $4).
• Signals and warnings are activated by email.
• Provided partner programs.
• Automatic trading functions.

To be honest, I find this to be a fair set of trading conditions, especially when compared with other top brokers in the financial market. This doesn’t hurt you as a trader.

Requirements And Conditions Of Work On XTB

Every brokerage company has its set of requirements before anyone can assess them. These requirements are customer-facing; that’s what is expected from you as the customer who agrees to use the platform.

Typically, the most fundamental requirements include: being at least 18 years old to register, adhering to the platform’s terms and conditions, and verifying your identity to prevent identity theft and money laundering.

On XTB, users have the option to open two distinct types of accounts: the Standard account and the Swap Free account. While these accounts have similar features, certain subtle differences distinguish them:

1. The Minimum spread is 0.5 on the standard account and 0.7 on the swap-free.

2. On the standard account, there’s the option for a swap, while on the swap-free account, users don’t have the option.

Besides these two propositions listed above, other features are the same. For example, the number of instruments is the same: 2,200; the maximum leverage is 1:500 on both accounts; the Minimal Order for both is 0.01; the execution type is similar. Both account types offer cryptocurrency trading with no commission involved.

Training of users of the company

Over the years, brokers have taken a keen interest in educating their users about how to trade, regardless of their understanding of the market through their trading academy. Scrolling through the XTB mobile trading app and website there are a lot of takeaways there if you decide to trade with them.

XTB invested a lot into its trading academy, educating its users about how trading works, market analysis, and how to use its platform.

Under the Learn To Trade icon, on the website, there are currently 60 articles published that cover everything from trading accounts, instruments, our platforms (XTB’s trading platform), partnership programs, fees and payment, and order execution.

This section focuses more on how users use the platform to get the best result from their trading experience. There is also an extensive video library that equips you with the right trading knowledge.

A good part of the resources section is the small icon that reads “Start a conversation.” This feature is crucial for both beginners and advanced traders who find it difficult to understand certain parts of the platform and can always reach out for more help/assistance.

Clicking on the article section aka knowledge base on the site, you’re redirected to a page tagged knowledge base and it’s categorized into forex, technical analysis, commodities, indices, stock, fundamental analysis, CFDs, ETFs, etc.

Other sections available specifically provide information on how to use the platform and navigate properly without difficulty; it includes XTB services, Glossary, Guides, and a Platform. All these resources help you improve your level of experience as a trader.

There are other areas on the site that have more details depending on your trading persona. For example, investors have a distinctive section that talks about news, reports, share price, and ESG that’s dedicated to investors.

Particular attention should be paid to the demo account created on XTB, which makes it possible for users to test successful trading strategies without risking their personal investments.

Experienced traders know that no theory can replace practical training; this is why the Demo account is important. Before registering for the platform’s Demo account, you’ll find the listed benefits of doing so on the right side of the screen.

There are educational tools, technical indicators, and analytical tools, traders can also use on the platform to build trading strategies.

XTB took a step further by making its website available in 19 different languages, including English (UK & US), Spanish, and Arabic.

XTB trading academy will help you navigate issues like forex trading risks, cryptocurrency trading, trading costs, market analysis, market sentiment, market volatility, analyzing market news, average spread and spread change daily.

Another cool part about the trading academy is that it provides financial market education, a dedicated video library, quality articles, price analyses and more. Also, don’t expect any trading signals, but there is video content to guide you as well as active trader discounts.

Financial assets

XTB comfortably boasts of having a wide range of assets of over 2,200 financial instruments listed for anyone to trade from their mobile trading app and website. This adds flexibility and makes individuals more interested in using the platform as a result of the number of choices available.

As a user, you may select the following groups of trading assets that for any financial transactions:

• Currency pairs.
• Commodities and agricultural goods.
• Shares of large enterprises.
• CFD (for various contract objects).
• Bonds.
• Indices
• precious metals
• Other securities.

Each of these financial instruments have multiple base currencies to trade on the platforms. From forex CFDs in the forex market to stock CFDs in the stocks market, the benefits are unlimited.

Important note: “Contracts for Difference (“CFDs”) are leveraged products and carry a significant risk of loss to your capital, as prices may move rapidly against you and you may be required to make further payments to keep any trades open.

These products are unsuitable for all clients. Therefore, please ensure you fully understand the risks and seek independent advice.”

Replenishment of trading account and withdrawal of funds

Withdrawal and depositing in every brokerage platform are important to the overall user experience to me. As neglectable as both may sound, providing several convenient methods for a retail trader to use whenever they want is paramount.

In order to deposit money or withdraw from the system, the developers of XTB gives you different option as a user, which include the following :

• Plastic cards (Visa / Mastercard or Maestro).
• SafetyPay.
• Skrill.
• PayPal.
• Neteller.
• credit / debit cards
• Most bank transfers.

Suppose you choose one of the listed methods of depositing/withdrawal funds. In that case, you need to consider the commission for payment, the time required for the operation, and other subjective factors affecting this procedure.

XTB doesn’t have a minimum amount of deposit; also, you’re advised to go for a certain platform depending on your jurisdiction.

In addition to these, you’re charged a withdrawal fee based on your country of residence or version of XTB you’re using, and the minimum deposit you have in your different types of accounts on XTB. It’s well explained below:

Just as why training is important, withdrawal and deposit are also crucial in building customer trust and user retention and providing a competitive edge among other brokers. The speed of whatever method you choose is dependent on that method; bank transfers can’t be compared to debit cards.

Trading Platform

XTB currently supports different platforms for trading you can choose between xStation or MetaTrader4. xStation 5, XTB proprietary trading platform, is supported by the advantages of using this trading platform’s minimalist design, the charting feature, and the economic calendar.

XTB also supports the popularly known MetaTrader4 (MT4), a common trading platform among many. MT4 isn’t available to all XTB users in all regions.

However, the xStation 5 is distinguished from MT4 because compared to Xstation 5 it can be used by any XTB user regardless of region. XTB doesn’t support copy or social trading. These trading terminals can be linked to your XTB’s mobile trading platform and website.

Customer Security

I’m always on the lookout for the security in place for any broker I’m choosing. Brokers that have been around for a while will know the importance of building a secured platform.

In the case of XTB, it’s appropriately secured, and the whole process to achieve this is made open. The following are some of the measures XTB has incorporated:

• XTB makers use the Secure Sockets Layer (SSL) to help secure users’ data and information shared with the platform. With this, cybercriminals or bad actors can’t get users’ personal details.

• Another approach XTB uses is the Two-factor-authenticator (2FA) approach which adds another layer of security. A 2FA is required for every user to set up before being able to access their trading account. This is done with the aid of an authenticator app.

• There’s also the Anti-laundry laundry (AML) system, which relies on users completing Know-your-customer (KYC) forms. A user KYC provides XTB with certain personal and government documentation of them to secure against impersonators and fraudsters.

XTB also takes appropriate measures to provide enough information to guide users to further secure their trading accounts against bad actors. It’s clear that XTB doesn’t take users’ security for granted and holds it to a high standard that many brokers aim to attain.

It means that the company cares both for its reputation, and, importantly, for use as an advanced or beginner trader. Any broker that isn’t secured simply reflects how it doesn’t care about client safety.

Customer Support

XBT has a top-tier customer support system to reinforce and aid users with complaints or complications while using the platform.

XTB is reachable through email address, 24/5 chat support, and an official mobile number specifically for account opening. Traders can also pay the roller at either of its twelve offices in different regions. You’ll also get the online chat feature that helps communicate and initiate a conversation from the website.

The customer support team is on standby to attend to your inquiries. Best of all, XTB has a multilingual customer support system; although this should be standard, not every broker offers it.

Partnership and Sponsorship

XTB runs a partnership and sponsorship program on its website. Just on the home page, you’ll find UFC champion McGregor’s image at the top. This reflects the brand marketing’s strategy to acquire users.

Beyond this, there’s a more detailed sponsorship and affiliate program for you as an individual or business to tap into. The partnership involves receiving a commission for acquiring users for XTB. The copy at the header says “Let’s grow together,” which shows some true level of connection to its affiliate.

The partnership is open to finance portals, trading schools, influencers, social media pages, and any other online business related to the financial niche. There are different rates card that determines the commission and payout, which is shown below:

There’s a page that’s dedicated to you to fill in to get started as an affiliate. Applicants are required to input different details to become a partner across personal information, account information, business information, and other information subject to their legal status; as a physical or legal person.

What does the XTB forex broker offer?

XTB is one of the most recognized brokers globally. The financial broker has been operational for over 20 years, giving them a lot of understanding of how the market works and always maintaining the status of quality services.

XTB is also one of the world’s largest stock exchange-listed FX & CFD brokers and gives access to hundreds of markets for traders.

XTB has thirteen offices in different countries globally, including the UK, Poland, Germany, France, and Chile. Unlike other forex trading platforms, XTB is different. The well-designed interface completely absorbs the first on the platform site, a user or potential user.

The experience of interacting with it is next to none compared to most other brokers, especially up-and-coming ones; those who are involved in a specific segment of the market, like cryptocurrency trading, described XTB as excellent.

The range of features on the site easily tell how dedicated beyond mere words XTB is to growing and developing its platform for users. One is the continuous improvement and advancement of the XTB site;

the platform is also regulated by some of the notable regulatory authorities in the world; and above all, it has received several awards over its decade-long participation in this financial arena.

About the available instruments for trade, there are thousands (2,200) of them, from several asset classes: forex pairs, indices, commodities, ETFs, CFDs, cryptocurrency, and more. The company also boasts of having over 495,000 clients it serves.

The professional trading platform uses one of the latest technologies to enable its service delivery and encourage users to always use the platform.

XTB has a very comprehensive library to train users, a standby customer service team working round the clock, and some of the most recognizable authorities secure it. XTB has won notable industry awards as well making them rank even higher among counterparts. Regardless of your level of experience, XTB is a good choice.

Frequently Asked Questions

Can XTB be Trusted?

XTB is a great choice of broker for any trader. There are different types of accounts on XTB servicing over 495,000 clients and has been operational for over two decades (20 years) and is regulated by top-tier regulatory authorities. Many retail traders and active clients trust XTB.

Is XTB a Great Choice For Beginners

Unlike some other brokers, XTB takes time to educate its traders at all levels about its products, how to use the different features on it, the educational tools, professional trading, and more importantly how to trade the financial market; certain terminologies, news, how to trade it, etc.

This makes it a great choice for beginners. You should also note the fore trading risks beginners fall prey to.

How’s Depositing and Withdrawing on XTB?

The method chosen determines the transaction time frame for either action. Ideally, it shouldn’t take too long, If it does, consider contacting customer support via the available channels.

How many Authorities Oversee XTB?

There are at least four regulatory bodies that oversee the activities of XTB. Different authorities oversee XTB based on your jurisdiction.

Is XTB a Safe Broker?

Yes, XTB is a safe broker that you can trust. The platform is regulated by recognized financial bodies, has good security measures in place, a training center to educate you on forex trading and strategy, and more importantly a customer support system in place to help you out.

What Is The Best Choice For Trading on XTB?

Mobile apps or websites are both great choices for beginner and expert traders starting out. Trying out both and identifying which suits your style is important.

Final Thoughts

So far, it’s easy to tell that XTB Financial is one of the most secure and best brokerage platforms for any trader—novice or pro— willing to enjoy the complete trading experience and learn fully professional trading.

There are a range of features and are above industry average. They have 24/5 customer support, a well-designed mobile interface, are accredited by several regulatory authorities, and have comprehensive trading resources from video content.

Like Olymp Trade, XTB has made its platform usable to many across the globe due to availability in different languages.

Undoubtedly, the years XTB has spent in the brokerage industry have helped shape it into a fine product. You’ll barely notice the difference between trading mobile apps and the website. I’ll recommend XTB to anyone of any level of trading experience.

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