Is XTB Good?: The Review of XTB Pros and Cons [Summary of Overview Information from Real Trading Experiences]

Important Details of XTB Broker
Broker Name XTB
Website xtb.com
Year of Establishment 2002
Regulatory Organization IFSC, FCA, CNMV, CySec, KNF
Minimum Deposit $250
Deposit and Withdrawal Speed Deposit: 5 Minutes interval, Withdrawal: 1 Day interval
Deposit and Withdrawal Rate  0%
Leverage Maximum 1:500
Spread EURUSD 10, USDJPY 10, GBPUSD 9
Platform xStation 5

XTB is not listed in Best Forex Broker Ranking 2022

XTB Information

Year of Establishment : 2002

Head Office

XTB’s Head Office is located in Poland

Address: Ogrodowa 58, 00-876 Warszawa, Poland

Trading Products

  • Forex:
  • Gold:
  • Petroleum:
  • Index:
  • Cryptocurrency:
  • Stock:
  • Other Commodities:
  • Bond: –

XTB Broker Type

XTB is a No dealing desk (NDD) broker where all order trains are delivered through X-Trade Brokers DM, the market maker executing market orders without a dealing desk.

XTB’s Explanation

XTB Ltd is not a market maker and has no dealing desk.
 
XTB Ltd is a matched principle broker and sends all trades automatically to our parent company X-Trade Brokers DM, which is our liquidity provider and trades are executed automatically without any manual intervention from any dealing desk

XTB Bonuses and Promotions

  • Welcome bonus: For new customers by giving a bonus of 50% of the deposit amount.

Details are as follows :

We offer welcome bonus ONLY to some new non EU/UK clients. 

🚩For UK/EU residents (FCA/ EU Branches)It is against regulations to offer cash based incentives to retail clients in the UK/EU.

For non UK/EU residents (IFSC Belize regulated entity) – we are happy to offer a Welcome Bonus as part of our loyalty offer.

How does the Welcome Bonus work?

In general, 50% of your first deposit can be added to your account if you trade a minimum amount of lots (15% of your first deposit amount) within 60 days of your account opening.

How to apply for the Bonus?

You have to apply for Welcome Bonus, we do not give it to every client!

To apply, your first deposit has to be at least equivalent of 100 USD.

If you are interested, please contact our sales team for details.

Contact Channel

     

Trading Platform

  • xStation (Web, Mobile and Desktop)
  • MT4

XTB Review

xtb logo

Forex brokers from Poland with its parent company named X-Trade Brokers, which is listed on the Warsaw Stock Exchange, building great credibility with XTB.

Spread fee on an XTB Pro account is relatively low, but there is a downside to having to open a minimum order of 0.1 lots, making the money management quite difficult.

XTB also has excellent trading teaching materials compiled for both b and professional traders who want to learn more about trading.

Advantages

Been in operation for a long time

Established since 2002

The parent company is listed on the Warsaw stock exchange

XTB has a parent company called X-Trade Brokers, whose company is listed on the Warsaw Stock Exchange.

Good server, smooth trading

Open-close orders without delays, able to adjust Take Profit and Stop loss points quickly.

There are excellent trading teaching materials

Disadvantages

Having no MT5 platform

Only available for trading on MT4 and the xStation platform.

Must be aware of changes without prior notice

This broker has been in such a situation, in which there was termination of services in some countries without prior notice.

No CopyTrade

XTB does not provide a Copy Trade system.

Is XTB service fee high or low ? (SPREAD, COMMISSION, SWAP)

Spread fee on XTB’s Pro account is relatively low, but the swap rates are considerably high.

Sample Spread of XTB– Standard and Pro

Average Spread over the 7 major currency pairs of XTB

Swap Fee over 7 major currency pairs of XTB

Commission Fee of each type of XTB account

  • Standard Account: No Commission Fee
  • Pro Account: 7 USD/lot (Open-Close)

Is XTB reliable and reputable ?

This makes XTB information transparent, able to report financial information to customers, reflecting the ability of the company to operate.

XTB has been operating since 2002, with branches spread across various cities in Europe. It is also fully licensed, including FCA, CySec and KNF.

XTB is a broker that discloses quite a lot of information such as office locations, licenses, financial statements and even lists of executives.

Management Board XTB

Brokers from Poland with its parent company, X-TRADE BROKERS DOM MAKLERSKI SPÓŁKA AKCYJNA, is listed on the Warsaw stock exchange, abbreviated “XTB”

xtb gpw

See details here. Click: View XTB stock details.

Year of Establishment : 2002

License Certificate (Regulator)

1. IFSC (International Financial Services Commission in Belize)

xtb belize

2. FCA (Financial Conduct Authority)

  • License Certificate No: FRN 522157
  • XTB Ltd (XTB UK)
  • xopenhub.pro และ www.xtb.com
  • Provides services to traders within the United Kingdom
  • Compensation insurance of up to £85,000 per person in the event of the company’s bankruptcy. (From being a member of the FSCS: Financial Services Compensation Scheme)
  • Click to view the License Certificate

3. CNMV – Comisión Nacional del Mercado de Valores

4. CySec (Cyprus Securities and Exchange Commission)

5. Komisja Nadzoru Finansowego (KNF)

knf xtb

Head Office

XTB’s Head Office is located in Poland

Address: Ogrodowa 58, 00-876 Warszawa, Poland

Employee Number : 201-500 persons

(A total of 424 employees are active on LinkedIn)

Customer capital protection

XTB segregates the customer’s funds account from the company’s account.

Financial Disclosure

As XTB has its parent company, X-Trade Brokers DM SA, which is listed on the Warsaw stock exchange. That must report the financial statements in each quarter of every year in which the company disclosed to investors to see here. Click: to view the financial statements of XTB

Examples of XTB’s Financial Statements

Auditor

XTB has hired EY as its auditor (one of the four largest auditing firms in the world) and in the past XTB only used the services of well-known auditors such as PWC and KPMG.

earn and young

To what extent is XTB popular with traders all over the world ?

In the Forex peace army, the number of reviews is still relatively small, notable are Trustpilot and Google reviews that are a lot and acquire good scores, while Social Mediais in the middle to low levels.

XTB Services

It is a broker that has a dashboard page in the trading account management system that is the simplest, uncomplicated, and easy to use. As for the disclosure of information, it is nicely done.

Recently canceled services in Thailand. Removed Thai language and there is no longer Thai language staff available, however previous customers can still trade, deposit and withdraw, which in the future all will have to be canceled.

(Beware of unreasonable cancellations in some countries)

The format of the website is simple and easy to use.

The information on the website is quite detailed. There are thorough explanations such as deposit/withdrawal procedures and payment methods.

Have been translated into over 20 languages

Live chat

Long waiting time of almost 5 minutes until the support staff responded.

The response of the staff is quite proper, they can assist and solve problems very well.

Tel

Open Account : +357-257-25356 (Belize)

Support : +48-222-739-976 (Belize)

Email : [email protected]

XTB Trading Experience

The Spread and Commission fees of the Pro account are lower than the Standard account, but the drawback of the Pro account is that it has a minimum lot limit of 0.1, which makes it difficult to manage funds.

As for the server, it’s pretty good, fast trading, no lag.

Comments from our team

  • Adjusts the Stop loss and Take Profit points relatively quickly without delay.
  • Server is quite stable.
  • Standard account spreads are a bit too high.
  • Recommended to trade on a Pro account.
  • But the disadvantage of the Pro account is that the minimum lot opening is 0.1, making it difficult to manage the fund in trading.

XTB Conclusion

XTB is ranked 7th in The Best Forex Broker Ranking 2022

References

Writer : Yoda Yoshida

  • Position : Editor
  • Biography : Former waiter to professional traders
  • Experience : 20 years in the Forex industry
  • Goal : To select the best broker for traders.
  • Short greetings : Some things take time to grow.
  • Full biography of the writer, Click >

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