XTB review

XTB offers a competitive fee structure that appeals to a wide range of traders, particularly those engaging in forex and CFD trading. The platform is known for its low spreads, which can significantly reduce the cost of entering and exiting positions. For major currency pairs like EUR/USD, XTB offers spreads as low as 0.6 pips during peak trading hours, which is considered competitive in the industry.

When it comes to stock and ETF trading, XTB provides commission-free trading for many European customers, particularly those who trade less than €100,000 in a month. This offer is available for UK and EU customers onboarded under XTB’s Polish entity. However, for investments at or above €100,000 per calendar month, a 0.2% commission is charged with a minimum of €10 per trade. It’s worth noting that while this offer is favorable, some competitors provide commission-free trading without any limitations.

For CFD trading, XTB doesn’t charge direct commissions. Instead, the cost is built into the spread, which varies depending on the product and market liquidity. For instance, the S&P 500 CFD has an average spread cost of 0.5 points during peak trading hours. This pricing model can be advantageous for traders who prefer a more straightforward fee structure without separate commission charges.

XTB also implements a currency conversion fee of 0.5% for trades involving different currencies. This is particularly relevant for traders with accounts in one currency but trading assets denominated in another. To mitigate this cost, XTB offers the option to open accounts in different base currencies, including GBP, EUR, and USD.

It’s important to note that while XTB’s fee structure is generally competitive, there are some additional costs to consider. For instance, there’s an inactivity fee of €10 per month after one year of trading inactivity if no deposit was made in the last 90 days. However, XTB doesn’t charge fees for most deposits and withdrawals, which can be a significant advantage compared to some other brokers.

Overall, XTB’s fee structure is designed to be attractive to both novice and experienced traders, with its combination of low spreads, commission-free options, and transparent pricing. However, as with any trading platform, it’s crucial for traders to carefully consider their trading style and volume to determine if XTB’s fee structure aligns with their specific needs and strategies.

XTB is a reputable broker with multiple regulatory licenses. The main regulatory bodies include the FCA, KNF, CySEC, and IFSC. For Germany, XTB is also registered with BaFin. Additional registrations exist in several other countries. More information can be found on the CySEC website as well as the BaFin website.

XTB is publicly listed on the Warsaw Stock Exchange (WSE) under WKN A2AJ7Q and ISIN PLXTRDM00011.

XTB offers various deposit and withdrawal options. No fees are charged, and even deposits via PayPal are free of charge. However, conversion fees are not covered by XTB.

Currently, XTB offers the following payment methods:

• Bank transfer
• Credit cards (VISA, MasterCard, Maestro)
• PayPal
• Instant transfer

A fee of €10 is charged for withdrawals under €200. Otherwise, withdrawals are free of charge.

XTB charges an inactivity fee of €10 per month after 365 days of inactivity. All client funds are held in segregated bank accounts in accordance with regulatory obligations. Funds are kept separate from company assets, ensuring client fund segregation.

Client deposits are currently protected up to an equivalent of €3,000.00 in PLN at 100%, and amounts exceeding this up to €22,000.00 in PLN are secured at 90%.

Due to regulations, every new customer must undergo some basic compliance checks to ensure they understand the risks of trading and are authorized to trade. When opening an account, you will likely be asked for the following, so it’s good to have them ready:

A scanned color copy of your passport, driver’s license, or national ID
A utility bill or bank statement from the last three months showing your address

You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It’s best to set aside at least 10 minutes to complete the account opening process.

Although you can explore the demo account immediately, it is important to note that you cannot conduct real trades until you have passed compliance, which may take several days depending on your situation.

XTB essentially offers two account types: the Standard account and the Pro account. The main difference between them is that the Standard account has normal spreads (no commissions), while the Pro account offers reduced spreads (with commissions). The Pro account is therefore XTB’s ECN/Raw account. XTB specifies market execution as the execution type for both accounts. XTB also offers a free demo account.

Further details and differences are shown in the following table.

You can close the XTB account from within the XTB app. Go to app settings and click Leave XTB to close your XTB account.

XTB offers excellent service. Customers can access XTB’s customer support 24 hours a day, 5 days a week, to resolve any questions or issues. Most concerns are handled directly by German staff at the branch office in Frankfurt.

XTB provides the following contact numbers:

• Email: info@xtb.de
• Live Chat

The xStation 5:

The xStation 5 can be used either as a web-based platform or a mobile app. The web trader is compatible with Chrome, Firefox, Safari, and Opera. The mobile version, the xStation 5 app, is available for iOS and Android.

The xStation includes, like most web traders, a market overview for various products as well as a watchlist. Additionally, it features an integrated economic calendar along with financial news.

The order screen conveniently displays both the spread and the required margin, making it user-friendly. Unlike MetaTrader 4, this allows traders to immediately see the size of the position they are about to open, helping to prevent mistakes.

Another interesting feature is the market sentiment tool, which is directly integrated into the xStation. It shows which positions traders are currently holding, making it easier to identify extreme positions and position oneself accordingly.

Additionally, the following features are offered:

• Top Mover: Markets or assets that have moved the most
• Stock Screener: An analysis tool to find suitable stocks based on specific criteria and filters
• ETF Scanner: The counterpart to the Stock Screener for ETFs
• Heatmap: Sectors and markets compared to one another, making it easier to spot reallocations and overarching trends

The available trading instruments at XTB include over 4,500 different markets, which is significantly more than the average broker. These include:

• +49 Forex/currency pairs
• +42 indices (Cash & CFD Futures)
• +22 commodities
• +194 ETFs
• +114 ETF-CFDs
• +25 cryptocurrencies
• +1,772 stock CFDs
• +2,357 stocks
• +2 bonds

All in all, XTB offers the most important and frequently traded instruments. Only in the area of bonds does XTB lack selection.