XTB Review 2023
XTB is an online broker offering forex and CFD trading to UK clients. The company is one of the largest stock-exchange listed brokers in the world with a string of awards under its belt. Our review of XTB covers minimum deposits, trading platforms, security features and fees. Read on to find out whether to sign up for a live trading account.
Whilst XTB’s history dates back to 2004, today the broker provides trading services to 275,000+ customers. The company’s headquarters are located in Poland, with additional locations in over 13 countries, including Portugal, Germany and the UK. The group’s XTB entity is authorised by the Financial Conduct Authority (FCA).
The broker offers two online trading platform options; the globally recognised MetaTrader 4 and the broker’s award-winning xStation 5 solution.
XTB’s bespoke software is a straightforward trading terminal with all the tools most retail investors will need. The user-friendly and free-to-download platform offers the following:
- Live news stream
- Market sentiment
- Customisable charts
- Professional analytics
- Ultra-fast execution speeds
- Simple and intuitive design
- Automated trading strategies (Python API)
- Built-in trading calculator and economic calendar
The favoured forex trading platform among retail traders, MT4 is a comprehensive solution suitable for beginners and experienced investors. Thousands of automated trading bots can be downloaded while a long list of technical indicators and analysis tools are available. Additional features include:
- Trading signals
- Micro lots from 0.01
- 24 analytical objects
- 30 built-in indicators
- Multiple interactive charts
- Fully customisable interface
- Automatic execution (instant)
Both trading platforms are available as a free download to desktop devices and via a web browser.
XTB offers online trading opportunities across 2,000+ CFD and spot forex assets:
- Forex – 57 currency pairs including majors, minors and exotics
- Commodities – 23 commodities including gold, cotton, oil and sugar
- ETFs – 120+ products including SPDR gold shares and core US aggregate bond
- Indices – 42 global stock exchanges including the UK 100, Nasdaq 100, Dax 30 and S&P 500
- Stocks – 1,800+ global stocks with UK companies such as Barclays PLC, GlaxoSmithKline PLC, and ITV PLC
XTB does not offer crypto investing on the likes of Bitcoin and Dogecoin due to FCA regulations. Spread betting products are also not available. Clients can, however, start trading penny stocks, which are great for new traders looking for accessible investment opportunities.
Fees & Pricing
Spreads vary by account type with floating spreads from 0.9 pips on the Standard accounts. Pro account holders benefit from zero pip spreads but must pay an additional commission. Average pips on major currency pairs like the EUR/USD are 0.8 pips while on the GBP/USD, it’s 1.7. Major indices like the FTSE are typically offered at 0.9 pips while commodities such as aluminium and cocoa are offered at 11 pips. UK retail traders can also benefit from discounted spreads by up to 5%. Eligibility criteria apply which include trading a minimum of 20 lots within 30 days.
XTB does not charge a trading commission for any forex, indices, or commodity transactions with the Standard Account on MT4 or xStation. Stock and ETF CFD commission fees apply, from 0.08% per lot. A £3 commission is charged per transaction with the pro account across all markets.
Note, a £10 inactivity fee is applied after 12 months of no trading. XTB also charges an overnight rollover fee.
Leverage varies by trading asset with a maximum cap of 1:30, in line with ESMA regulations:
- Forex – 1:30
- Indices – 1:20
- Commodities – 1:10
- Stock CFDs – up to 1:5
Clients can view margin requirements and respond to margin calls via the XTB user area.
XTB offers its proprietary xStation as a mobile trading app with a suite of simple navigation features. The app is free to download and comes with a selection of useful charting analysis tools, including:
- Live market news
- Built-in trading calculator
- Trade directly from charts
- Access to market sentiment
- Set stop loss and take profit levels
- Transparent charts (available horizontally)
- Simple and intuitive design with dark mode customisation
MT4 is also available as a mobile trading app, with similar features to the web version. Both applications are compatible with iOS and Android.
Deposits are free except for PayPal (2%) and Paysafe (2%). Additional bank transfer fees may also apply. There is no minimum deposit needed to open an XTB account which is competitive vs competitors like IG, Interactive Brokers, Plus500 and eToro. Deposit methods for live account payments are accepted in GBP and include:
- E-wallets – PayPal and PaySafe/Skrill
- Bank transfer – Local and international
- Credit/debit cards – Mastercard, Maestro and VISA
E-wallets and credit/debit cards often provide instant processing.
If requested by 1 pm, withdrawal times can be the same working day. However, withdrawal options are limited and funds must be paid via the same method used to deposit. Exchange rate fees may apply if the trading currency is different from your nominated account. Minimum withdrawal thresholds also apply with a £12 fee for GBP withdrawals under £60.
XTB offers a free demo account on both trading platforms. The account is available for 4 weeks and comes with access to £100,000 in virtual funds and 24-hour support (Sunday to Friday). The demo account is a good way to get familiar with platform features and test trading strategies risk-free. Live market conditions are simulated with tight spreads from 0.2 pips and 1:30 forex leverage.
The XTB group does not offer any no deposit bonuses or promotions to UK traders. This is aligned with ESMA trading regulations that limit financial incentives for UK and European investors.
XTB International is licensed with several recognised bodies. The United Kingdom subsidiary is regulated by the Financial Conduct Authority (FCA), a highly respected governing body. Obligations include segregation of client funds in top-tier banks, FSCS compensation to the value of £85,000, plus negative balance protection.
XTB offers many extra support features. This includes an education trading academy, with extensive online video and ebook content suitable for varying experience levels. Topics include margin calculations, plus how to buy and understand stocks and shares.
In addition to live webinars, the XTB website also provides an online help centre and forum-style articles specific to trading with the broker. Topics include features of the trading platform and how to close or delete an account. XTB also offers live daily news articles, a world economic calendar, plus market sentiment tools.
XTB Account Types
Just one online account is available to retail traders in the UK; the Standard account. A simple online registration form needs to be filled out to get started. Traders must also provide KYC documentation including ID and proof of residency.
Standard account features include:
- Automated trading
- No minimum deposit
- Instant market executions
- Personal account manager
- Minimum order 0.01 lots (ETFs & shares 1 lot minimum)
XTB Ltd does offer an Islamic account however this is not offered under the UK affiliate. A professional trading account is also available subject to eligibility criteria. Features such as negative balance protection are offered under the pro account.
- Mobile app
- FCA regulation
- Scalping accepted
- Online live chat available 24/5
- Demo account on both trading platforms
- Proprietary platform and industry recognised MT4
- Negative balance protection and FSCS compensation
- Access thousands of instruments across global markets
- Extensive trading academy with video content and live webinars
- No MetaTrader 5 platform
- Limited withdrawal methods
- Withdrawal fees apply if minimum thresholds aren’t met
The broker follows standard office hours and offers 24/5 trading Sunday to Friday. With that said, trading hours may vary by instrument and spreads widen during periods of low liquidity. See the XTB website for a breakdown of hours by financial market.
XTB offers several UK customer service options, available 24/5:
- Email – firstname.lastname@example.org
- UK telephone – +44 (203) 6953085
- UK address – Level 9, One Canada Square, Canary Wharf, London, E14 5AA
- Online live chat – Consultants are available 24/5 via the green logo on the right of the broker’s website
All personal information and data pass through secure SSL encryption and account access is password protected. Both trading platforms assure industry-standard encryptions with secure logins. The xStation 5 mobile app supports additional PIN security protocols at the login stage while the MT4 terminal offers 2FA.
Should You Trade With XTB?
XTB offers forex and CFD trading to clients of all abilities with thousands of tradable assets. UK traders should feel assured of the FCA regulation, no minimum deposit, and educational resources. The selection of trading platforms, including the broker’s bespoke software, is also a strength. Overall, XTB is an excellent online broker.
Is XTB A Good Broker?
XTB is a respected and trustworthy broker. With over 15 years operating history and FCA authorisation, the company provides transparency and market-leading trading solutions. Opening a live trading account is also straightforward.
Is XTB Safe?
XTB Ltd is a safe online brokerage. On top of UK regulation, it offers SSL encryption, negative balance protection, plus the segregation of client funds. As a result, we are comfortable XTB is not a scam.
How Do I Change The Maximum Leverage In My XTB Account?
UK retail clients are registered under XTB Limited and are therefore subject to ESMA’s 1:30 leverage cap. Leverage rates do vary by instrument but the maximum limit cannot be amended. Pro account holders can access greater leverage levels but must meet eligibility criteria.
What Trading Platforms Does XTB Offer?
The broker offers MetaTrader 4 (MT4) and its proprietary xStation 5. Both are highly-rated solutions with good customer reviews. There is currently no demo or live MetaTrader 5 platform offering at XTB.
Does XTB Charge A Withdrawal Fee?
XTB charges a £12 fee for any withdrawals under the £60 minimum threshold. Whilst potentially a downside, deposits are free and payments are processed promptly.
Compare XTB with Other Brokers
These brokers are the most similar to XTB:
- Pepperstone - Pepperstone is a leading online broker with over 400,000 clients in more than 175 countries. The top-rated brokerage offers excellent market access, industry-leading platforms in MT4, MT5, TradingView and cTrader, plus low fees with no hidden charges. Pepperstone is also heavily regulated with a high trust score, holding licenses with reputable bodies, including the FCA, ASIC, DFSA, and CySEC.
- IG Index - IG is an award-winning broker that has an excellent reputation globally. The brand offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
- Avatrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for trading, alongside a comprehensive education center and multilingual customer support.
XTB Feature Comparison
|Markets||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities||Forex, Stocks, Commodities|
|Minimum Trade||0.01 Lots||0.01 Lots||0.01 Lots||0.01 Lots|
|Regulators||FCA, CySEC, IFSC, KNF, DFSA||FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB||FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA||ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA|
|Platforms||-||MT4, MT5, cTrader||MT4||MT4, MT5|
|Leverage||1:30||1:30 (Retail), 1:500 (Pro)||1:30 (Retail), 1:222 (Pro)||1:30 (Retail) 1:400 (Pro)|
Trading Instruments Comparison
XTB vs Other Brokers
Compare XTB with any other broker by selecting the other broker below.
|XTB is one of the largest stock exchange-listed forex and CFD brokers in the world, offering access to over 5800 trading markets on their xStation platform. They boast 700,000 active traders, 20 years experience and authorization from tier-one regulators, including the UK's FCA.|