XTB Forex Broker Review: is XTB Scam or Legit? See Expert Findings!

XTB.com Review 2020: XTB is an online broker that claims to be committed in trading the Forex, Crypto and CFD markets.
It exults in giving a unique strategy, comprehensive academic materials, and being an award-winning platform.
The company intends to establish a long-term connection with clients, offer them the essential tools to successfully trade.

XTB was established in Poland in 2002 and has thrived to evolve into a well-known forex and CFDs broker, that serves over 230,000 clients globally as of its 2019 Half-Year (HY) report.

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XTB was documented on the Warsaw Stock Exchange in 2016 after a prosperous preliminary public contribution that esteemed the company at nearly $350 million.

xtb forex broker review

And in 2016 also, it was named the ‘Best Trading Platform 2016’ by the Online Personal Wealth Awards.

 

XTB Forex Broker Trading Platforms

The broker claims it offers live market analysis as well as an economic chart to clients.
It also offers an ultra-fast execution velocity and access to improved chart trading tools.
Clients can use XTB on any device such as their desktops, laptops, tablets, or their smartphones.

XTB offers two trading platforms: xStation 5 and MetaTrader4.

  • XStation

xStation 5 is an award-winning platform.
It’s easy to manipulate and has exceptional performance acceleration.
It encompasses a trading calculator, advanced chart trading, trader statistics, progressed technical estimation, bulk order closing, trader’s talk, market attitude, top movers, and equity screener.

This trading platform is obtainable for desktop devices, tablets, mobiles, and even smartwatches.
We’ve found that the desktop version is entirely active and is the most rapid version of the platform.

We also found that the tablet application maximizes the tablet device version’s interface and transmits entire trade supervision along with influential tools.

It also offers bulk order conclusion, comprehensive trade management, and interactive charts that comprises technical indicators.

  • MetaTrader 4

The MetaTrader 4 is the extensively outstanding trading platform in the industry, providing XTB clients with all the advantages of a well-loved and easy-to-use platform.

One outstanding aspect of MT4 is the proficiency to optimize specialized trading via influential structure distinction.
This tool allows clients to detect trends that are just arising so they can distinguish between the exit and entry points as well as set the profit-taking and stop-loss levels.

 

What XTB Forex Broker Says It Offers

XTB gives a Standard (for UK and Ireland residents only) and commission-based Pro account for UK and Ireland natives only.
Each account appears with its implementation technique and spreads model in terms of commissions and fees.
All-around, spreads are recreational. And despite the account type used, clients can employ either the xStation 5 platform or MT4.

It charges low costs for forex and stock index CFDs.
The deposit and withdrawal employment is quick and unrestricted, and clients can use considerable options, including credit/debit cards or electronic wallets.
It also offers a fast and user-friendly account opening.

XTB provides traders access to CFDs on 1703 stocks, 103 ETFs, 21 commodities, 42 indices, 25 cryptocurrencies, and 49 forex pairs. Furthermore, the broker also provides nearly 2100 cash equities (i.e., non-leveraged), including 150 ETFs, as part of its securities offering. The following table summarizes the different investment products available to XTB clients.

 

XTB Forex Broker Account Types

XTB offers various account classifications which have listed below:

  • Demo Account  – this account allows clients to experiment with the platform with either MetaTrader 4 or the web-based Xstation, without responsibilities.
    It is super easy to use.
  • Standard Account – This account type gives access to over 1,500 tools, including forex, commodities, crypto, indices, stock CFDs, and ETF CFDs.
    It has a market undertaking, leverage of up to 1:200, a minimum spread of 0.35, and a minimum order of 0.1  There is unfavorable equilibrium insurance and automated trading. Both account setup and supervision are free for this account type. The MT4 or xStation can be used with this account type.
  • Pro-Account – this account has similar access to possessions, with a minimum spread of 0.28 and maximum leverage of 1:200.
    It offers an unrestricted account set up without any supervision fees, and the minimum order size is 0.1 lot. This account type also works with both xStation and MT4.
  • Islamic Account –  this account is similar to Standard Account. The only discrepancies are that they do not offer cryptocurrency trading and are swap-free.

 

XTB Broker Withdrawal and Deposit Methods

XTB charges no deposit fees.
The electronic wallets, such as Paypal and Skrill charge 2% of the deposited proportion, which is relatively high. XTB mininimum deposit is $250.

There are lots of transfer options:

  • Bank transfer
  • Credit/Debit card
  • PayPal
  • Skrill
  • BlueCash
  • PayU
  • SafetyPay

XTB also charges no withdrawal fees if the amount is above $100. The only way to withdraw money is by bank transfer.

 

Is XTB Forex Broker Licensed?

Yes, it is.
It is regulated by several financial authorities, including the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Polish Financial Supervision Authority (KNF) and the International Financial Services Commission of Belize (IFSC).

 

Conclusion

We can tell that XTB is a reliable broker and we can recommend it to our clients.

Although we always advise that clients first begin with demo accounts, especially beginners.

XTB can be trusted because it has a body is answers to. The friendly trading platforms is a huge plus too.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

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