What Is XTB？
XTB International Limited, registered in Belize in 2002, currently lacking regulatory oversight, is an exchange-listed FX & CFD broker.
Pros & Cons
Pros:
24/5 Live Chat: XTB offers round-the-clock live chat support, providing clients with immediate assistance during trading hours.
App Supported: XTB's trading platform is accessible via mobile apps for both iOS and Android devices, enabling clients to trade on the go with ease.
No Minimum Deposit Requirement: XTB does not impose minimum deposit requirements, allowing clients to start trading without financial constraints.
Demo Account Provided: Clients have access to a demo account, allowing them to practice trading strategies and familiarize themselves with the platform risk-free.
High Leverage: XTB offers high leverage of up to 1:500, providing traders with the potential for amplified returns on their investments.
Competitive Spreads: XTB offers competitive spreads, starting from as low as 0.5 pips for CFDs, enabling clients to trade cost-effectively.
Cons:
No Regulation: XTB lacks regulatory oversight, which raises concerns regarding the security and transparency of the trading environment.
Commission Charged: XTB imposes commissions on certain transactions, with fees outlined in their commission table. Clients should consider these costs when trading with XTB.
Is XTB Safe or Scam？
Regulatory Sight: XTB is currently operating without regulatory oversight, which means it does not fall under the jurisdiction or supervision of any financial regulatory bodies. It also does not hold any licenses that would enable it to conduct its operations in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: XTB uses segregated accounts to keep client funds separate from the company's own money. This helps protect client funds in case the brokerage firm goes bankrupt or encounters financial difficulties.
Market Instruments
The tradable instruments provided by XTB include:
Stocks and ETFs: This allows you to invest in individual companies or track a basket of assets through Exchange Traded Funds.
Contracts for Difference (CFDs): These are financial instruments that allow you to speculate on the price movements of various underlying assets without owning them directly. XTB offers CFDs on:
Forex: Trade currency pairs like EUR/USD, GBP/USD, and others.
Commodities: Gain exposure to commodities like gold, oil, and natural gas.
Indices: Track stock market movements through CFDs on indexes like the S&P 500 or DAX.
Cryptocurrencies: XTB provides CFDs on some cryptocurrencies, allowing you to speculate on their price movements.
Account Types
XTB offers two main account types to cater to different trading preferences:
Stock & ETF Account: This account is designed for investors who want to directly buy and hold stocks and Exchange Traded Funds (ETFs).
CFD Account: This account caters to traders who want to speculate on price movements of various assets through Contracts for Difference (CFDs). CFDs offered by XTB include Forex, Commodities, Indices, and Cryptocurrencies.
General Account Features (apply to both types):
Free account opening and maintenance
No minimum deposit requirement
Availability of swap-free accounts for specific periods and products (details on https://www.xtb.com/)
Demo accounts available
Leverage
XTB provides a maximum leverage of 1:500 to its clients. This high leverage allows traders to amplify their trading positions significantly, potentially increasing both profits and losses. However, higher leverage brings more risks, as it magnifies both gains and losses in trading activities.
Spread & Commissions
For CFDs, XTB offers spreads starting from as low as 0.5 pips, which is rather competitive, since the average spread in the industry is around 1.5 pips. The tight spread is quite an advantageous trading condition.
XTB also provides zero-commission investing for certain products. Under this plan, investments are commission-free up to a monthly turnover of 100,000 EUR. Transactions exceeding this limit are charged a commission of 0.2%, with a minimum fee of 10 EUR. Additionally, a currency conversion fee of 0.5% applies for investments in foreign ETFs.
XTB emphasizes low management costs for ETFs, which are generally cheaper than traditional funds. ETFs typically incur fewer fees, with the primary fee being the management fee, which is usually below 0.5%.
For a detailed overview of all fees, including commissions and other charges, users can refer to the official commission table provided by XTB: https://www.xtb.com/int/actual_commission_table.pdf.
Trading Platforms
xStation 5: This platform offers professional analytical tools and a user-friendly interface. With access to over 5800 instruments, traders can execute trades seamlessly. The platform's simple and intuitive design allows for quick and easy management of investments.
xStation Mobile App: Traders can trade on the go with the xStation Mobile App, available for both iOS and Android devices. It provides all the necessary functions to trade and manage investments conveniently from mobile devices.
Desktop App: For traders preferring desktop platforms, XTB offers a Desktop App with the same functionalities as the web version. It is compatible with Microsoft Windows and Mac computers, providing a seamless trading experience.
Web Trade Platform: XTB's Web Trade Platform is accessible through web browsers like Chrome, Firefox, Safari, and Opera. It offers an intuitive interface and access to advanced trading tools for more experienced traders.
Deposit & Withdrawal
Payment Methods:
Withdrawal Process:
Clients can withdraw funds from their trading accounts easily.
Withdrawals can be made to a bank account, allowing clients to access their funds conveniently.
Depending on the timing of the withdrawal request, funds are sent on the same or the next business day.
Customer Support
Clients can access live chat support directly through the XTB website 24/5, allowing for real-time assistance with queries and technical issues.
It provides support via phone at +48 222 739 976. Clients can reach XTB's customer support team via telephone during trading hours to receive personalized assistance and support.
The Email Address XTB provided is sales_int@xtb.com, through which clients can send their queries, feedback, or requests for assistance to XTB's dedicated email address.
XTB provides its physical address, which is 35 Barrack Road, 3rd Floor Belize City, Belize, C.A, offering clients a point of contact for postal correspondence or inquiries regarding the company's operations.
Conclusion
XTB is a non-regulated FX & CFD broker, providing multiple advantageous trading features and conditions such as high leverage and competitive spreads, with no minimum deposit required. However, it holds no regulations and charges several kinds of fees. In this case, users need to be very cautious while appreciating the pros of XTB.
Frequently Asked Questions (FAQs)
Q: Is XTB regulated or not？
A: No, it is not regulated.
Q: Can I use a demo account to get familiarized first？
A: Yes, you can.
Q: Can I contact its customer service on weekends？
A: No, you can't. It is only available during weekdays.
Q: What is the lowest spread it can offer？
A: The lowest spread it offers is 0.5 pips.
Q: What is the minimum deposit required？
A: There is no minimum deposit required when you invest on XTB.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
