OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from mining pools to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.
Founded in 2002 in Poland, XTB now serves more than 935,000 clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 5,600+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring traders.
77% of retail accounts lose money.
Pros
There's an impressive range of blockchain products, including DeFi services, NFTs and games, alongside 400+ established and emerging coins
You can access a wide range of trading products, including futures, options and perpetual swaps via a mobile app or desktop platform
OKX maintains an excellent reputation with 20 million global clients and a license from the Dubai Virtual Assets Regulatory Authority
Traders can access historical market data for spot and futures combining OHLC data, aggregate trades and trading history
There's a vast developer lab plus access to a marketplace of pre-built trading bots with auto-arbitrage
Active traders can expect competitive maker and taker fees, from 0.02% and 0.05%, respectively
Crypto staking and pools are available with competitive mining fees from 2%
With over 5,600 instruments across forex, stocks, indices, ETFs, commodities, and cryptocurrencies, including CFDs, share dealing and more recently Investment Plans, XTB caters to both short-term traders and longer-term investors.
The xStation platform continues to impress with its user-friendly interface and intuitive features, including customizable news feeds, sentiment heatmaps, and trader calculator, reducing the learning curve for newer traders.
With an excellent range of educational materials, including training videos and articles integrated into the platform, XTB supports traders at all levels.
XTB has boosted its interest rate on all uninvested balances (up to 5.2%) while competitors like eToro only offer up to 5% on balances of $50K+.
Opening an XTB account is a hassle-free, entirely online process that takes just a few minutes, making the entry into trading smooth for new traders.
First-class 24/5 customer support is available, including a friendly live chat with response times of under two minutes during testing.
XTB offers fast withdrawals with same-day payments if requested before 1 pm, ensuring traders have quick access to their funds.
Cons
The firm offers limited regulatory oversight, though this is common among crypto brokers
The quality of customer support was inconsistent based on testing
The broker's platform and features may be complex for novices
XTB does not offer a raw spread account, which is becoming increasingly common among competitors like Pepperstone, and may disappoint traders looking for the tightest spreads.
The demo account expires after just four weeks, a serious limitation for traders who wish to thoroughly test the xStation platform and practice short-term strategies before committing real funds.
XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced traders familiar with the MetaTrader suite.
Trading fees are competitive with average spreads of around 1 pip on the EUR/USD but still trail the cheapest brokers like IC Markets, plus there's an inactivity fee after 12 months.
The research tools at XTB are good but could be great if they went beyond in-house features with access to leading third-party tools such as Autochartist, Trading Central and TipRanks.
Not being able to adjust the default leverage level of XTB products is frustrating, as manual adjustment can significantly mitigate trade risk, especially in forex and CFD trading.
Awards
Best Forex Broker for Beginners 2022
Best Customer Service 2021
Best Forex Broker for Low Costs 2021
Best Mobile App for Investing 2020
#1 EMEA Bloomberg spot for FX accuracy in Q2 of 2020 and Q3 of 2018
Year after year XTB’s app stands out for its slick design and uncluttered interface that we love. It’s quick, responsive and packed with useful features, notably integrated sentiment data, market news, economic calendars and education. The user-friendly order panel underneath the trading chart also makes placing trades, including adding take profit and stop loss levels, really straightforward.
iOS App Rating
4.7
Android App Rating
4.1
Margin Trading
Yes
Yes
Margin Rate
4.5%
MetaTrader 4
No
No
MetaTrader 5
No
No
cTrader
No
No
AlgoTrader
Yes
No
OmniTrader
No
No
TradingView
No
No
Autochartist
No
No
eSignal
No
No
Trading Central
No
No
STP Account
No
Yes
ECN Account
No
No
DMA Account
No
Yes
MAM Account
No
No
PAMM Account
No
No
LAMM Account
No
No
Demat Account
No
No
AI / Machine Learning
No
No
Robo Advisor
No
No
Negative Balance Protection
No
Yes
Market Maker
No
No
P2P Trading
Yes
No
Spot Trading
Yes
Yes
Auto Trading
Yes
Open API
Copy Trading
No
No
Social Trading
No
No
Trade Signals
Yes
VPS Hosting
No
No
Tournaments
No
No
Demo Competitions
No
No
Ethical Investing
No
Yes
Custodial Account
No
No
Guaranteed Stop Loss
No
Yes
Inactivity Fee
$0
Islamic Account
No
Yes
Account Currencies
USD
EUR
GBP
INR
JPY
SGD
RUB
AED
SAR
USD
EUR
GBP
HUF
Commodities
Gold
Oil
Silver
Copper
Cotton
Sugar
Precious Metals
Gasoline
Cocoa
Coffee
Natural Gas
Nickel
Soybeans
Aluminium
Livestock
Corn
Palladium
Platinum
Wheat
Zinc
CFD
XTB offers a huge selection of more than 2,100 CFDs spanning forex, indices, commodities, stocks, ETFs, and cryptos (location-dependant). Leverage up to 1:30 is available in the EU and UK, while global clients and pro traders can access up to 1:500. XTB stands out for its CFD trading resources and tutorials to assist traders in developing short-term trading strategies.
Leverage
1:30
FTSE Spread
1.8
GBPUSD Spread<
1.4
Oil Spread
0.03
Stocks Spread
0.2%
Forex
XTB provides access to 70+ currency pairs with low spreads averaging around 1 pip on majors. The xStation platform offers an intuitive environment for forex traders with an excellent charting package encompassing 30+ indicators, plus a range of order types, catering to various strategies and risk management techniques.
Assets
70+
GBPUSD Spread
1.4
EURUSD Spread
1.0
EURGBP Spread
1.4
Cryptocurrency
OKX continues to offer a superb selection of 400+ tokens including Bitcoin and Ripple. You can buy and sell tokens or trade cryptos on margin via derivatives, including perpetual swaps, options and futures. OKX stands out for its low fees, extensive range of tokens and speedy crypto transactions.
XTB offers an excellent selection of cryptos with more than 50 digital currencies. Spreads are tight starting from 0.22% on BTC and leverage reaches 1:5. The xStation platform also provides intra-crypto pairs like ETH/BTC and DSH/BTC. With the capability to trade cryptos 24/7, XTB ensures a secure environment with transparent accounts for cryptocurrency trading.
