By Steven Hatzakis
February 18th, 2019
Last Updated: May 6th, 2019
The ForexBrokers.com Annual Review (3 years running) is among the most cited in the industry. Our Head of Research, Steven Hatzakis, is frequently referenced as a leading analyst covering forex brokers and cryptocurrency. Learn more.
Founded in Poland in 2002, XTB has grown to become a well-known forex and CFDs broker. XTB maintains offices in over a dozen countries across Europe and is licensed by numerous regulators including the UK’s FCA, Poland’s KNF, Germany’s BaFIN, Spain's CNMV, France's AMF, Cyprus' CySEC, and Belize's FSC. It was listed on the Warsaw Stock Exchange in 2016 after a successful initial public offering that valued the company at nearly $350 million.
XTB provides a multi-asset solution to forex and CFD traders globally, offering over 50 forex pairs, 1,500+ CFDs, as well as more than 60 ETFs. The brokers offers traders its proprietary xStation 5 platform suite as well as MetaTrader 4.
As a trusted multi-asset broker regulated in several major financial centers, XTB provides a well-rounded, competitive trading experience. No question, customer service and xStation 5 are the broker’s two standout highlights.
- Publicly traded and regulated in multiple financial centers.
- Wide range of nearly 2000 trading products across global markets.
- xStation 5 is easy to use and offers multiple unique features not often found, such as trade history statistics and candlestick countdown timers.
- Excellent customer service.
- Mobile app lacks syncing watchlists.
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|Publicly-Traded Company (Listed)||Yes|
|Regulated in Major Hub||Yes|
|Regulated in Emerging Hub||Yes|
|Authorised in the European Union||Yes|
Commissions & Fees
XTB offers a Standard and a commission-based Pro account. Each account comes with its own execution method and spread model, in terms of commissions and fees. Overall, spreads are mostly competitive.
- Regardless of account type used, traders can use either the xStation 5 platform or MT4.
- With minimum deposits at XTB that start at 250 base currency (i.e., £250, €250, or $250) the Pro account is the most competitive option in terms of lower spreads. It has a commission of £2.5, €3.5, or $4 per side on standard lots (100k), depending on the currency of the denominated account.
- For active traders (and those in the EU who meet the definition of active professionals), XTB will rebate a portion of the spread back to you when you meet certain volume thresholds, starting from 100 lots or more per month, helping XTB compete with brokers such as FXCM and FOREX.com that have active trader offerings or liquidity rebates from CMC Markets.
- Margin rates at XTB can range from 0.5% (200:1 leverage) to as much as 60% margin (1.6:1 leverage) for certain CFD products, and the rate depends on both the amount of equity in your account as well as the type of product you trade.
- The Standard account has wider spreads in lieu of commission and is only available to residents of the United Kingdom (UK) and Ireland, leaving the commission-based Pro account, which offers lower spreads, as the only option for all other international clients not residing in the UK.
- Besides the method of execution, which varies per account type, ranging from dealing-desk execution to agency execution, other account differences can be seen in the bid/ask spreads. The Standard account has target spreads of 0.9 pips, and the PRO spreads (not including the per trade commission) can reach as low as 0.3 pips, according to XTB data.
- All in all, we would like to see XTB publish what its average spreads are monthly to help make a more accurate comparison with other multi-asset brokers in this category who release such data, including publicly listed firms, as XTB's target spreads seem otherwise competitive.
|Minimum Initial Deposit||$250.00|
|Average Spread EUR/USD - Standard||0.90|
|All-in Cost EUR/USD - Active||N/A|
|Active Trader or Premium/VIP||No|
Platforms & Tools
XTB’s xStation 5 delivers a high quality experience for traders that continues to improve year over year.
- XTB’s main platform offering, xStation 5, is available for desktop, web, mobile, tablet, and even iOS and Android smartwatches.
- In terms of innovation, the most significant new features added in xStation 5, which were not available with its predecessor xStation3, include the ability to set a stop-loss or take-profit (limit) as a percentage of your balance, and new heatmap and sentiment analysis tools.
- While the number of features has been kept to a minimum to avoid making the platform too complex, XTB has done well in balancing the platform with enough features while keeping the layout easy to use and uncluttered.
- The web-based version of xStation 5 is HTML 5 based, providing forex and CFD traders a very modern, clean design. A unique feature with charting, charts include a countdown timer showing the remaining time left in each candlestick, and right-clicking within a chart reveals an extensive list of drop-down items for fast access to trading and analysis. In total, 25 drawing tools and 26 technical indicators are included.
- With XTB’s reporting tools, there is a statistics section in the platform that lets traders analyze their history on a trade-by-trade basis for closed positions, including calculating any max drawdown and average profit and loss over time, among other performance rankings.
- If xStation 5 doesn’t satisfy your trading needs, XTB also offers the full MetaTrader 4 (MT4) platform suite: desktop, web, and mobile. Since xStation 5 does not support automated trading, MT4 must be used.
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|Virtual Trading (Demo)||Yes|
|Desktop Platform (Windows)||Yes|
|Social Trading / Copy-Trading||Yes|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||No|
|Charting - Indicators / Studies (Total)||51|
|Charting - Drawing Tools (Total)||31|
|Charting - Trade From Chart||Yes|
|Watchlists - Total Fields||7|
|Order Type - Trailing Stop||Yes|
To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2019 Review, 229 customer service tests were conducted over six weeks.
- Average Connection Time: <1 minute
- Average Net Promoter Score: 7.8 / 10
- Average Professionalism Score: 7.1 / 10
- Overall Score: 7.9 / 10
- Ranking: 2nd (23 brokers)
- View Infographic
XTB offers a diverse range of research across its platforms and websites.
- Beyond streaming headlines from top-tier news providers, an economic calendar, and in-house staff that publish technical and fundamental analysis, a premium service is offered under the TRADEBEAT brand that provides market sentiment, exclusive strategies, educational resources, and trade recommendations for subscribers.
- Helping to boost its ranking as a multi-asset broker in this category, XTB provides a stock screener that lets you filter basic fields to sort through nearly 2000 tradable single-stock CFDs, a useful research tool for scanning symbols to trade. Signals included within the news panel include price analyses from Thomson Reuters, Barclays, Citi Group, and others.
- Combined with other premium tools such as the heatmap and market sentiment, XTB’s research tools are diverse, useful, and comparable to research offerings from other multi-asset brokers, such as IG Markets, Saxo Bank and CMC Markets. The video content added to the platform has helped boost its appeal among peers.
- XTB has integrated educational tools into its platform and hosts webinars as well as live trading gatherings weekly at its UK office for live account holders. It has also launched a Whatsapp Trading group, where trading updates are shared in real time with members.
|Daily Market Commentary||Yes|
|Forex News (Top-Tier Sources)||Yes|
|Trading Central (Recognia)||No|
|Social Trading / Copy-Trading||Yes|
|Social Sentiment - Currency Pairs||Yes|
The XTB mobile app provides traders a respectable experience that is slightly above the industry standard.
- The xStation mobile app from XTB is easy to navigate from its upper left side menu bar, and ranks highly in terms of features, design, and ease of use compared to mobile apps from industry peers. That said, there is room for further innovation in what is already a good foundation for its mobile app.
- One feature I like about the charts is that the auto update mode makes the last candle change in real-time with every price update. That said, while charts do go full screen in vertical mode, the drawing tools are only visible in horizontal mode, a minor potential nuisance.
- Trading aside, research capabilities in the xStation mobile app are formidable. Top movers, market sentiment analysis, and a news calendar with click-to-expand charts are all available.
- Lastly, a nice feature within the mobile app is the ability to chat with a support representative right within the app.
- One feature we’d love to see added is syncing watch lists, so watch list changes on the web-platform sync with the mobile app, and vice-versa.
- The charting works well in both landscape and portrait mode, yet there are only 10 indicators and 10 drawing tools available. While this is comparable with industry standards, it was disappointing not to see more considering the desktop platform has 25 drawing tools and 26 indicators.
|Apple iOS App||Yes|
|Trading - Forex||Yes|
|Trading - CFDs||Yes|
|Alerts - Basic Fields||Yes|
|Watch List Syncing||No|
|Charting - Indicators / Studies||30|
|Charting - Draw Trend Lines||Yes|
|Charting - Trend Lines Moveable||Yes|
|Charting - Multiple Time Frames||Yes|
|Charting - Drawings Autosave||No|
Offering of Investments
The following table summarizes the different investment products available to XTB clients.
|Currency Pairs (Total Forex pairs)||48|
|CFDs - Total Offered||1728|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
Beyond quality service, XTB has stepped up its offering with the launch of cash equities and ETFs, adding to its range of markets and asset classes beyond forex and CFDs.
In 2018, XTB expanded its range of cryptocurrency CFD pairs from BTC/USD, ETH/USD, XRP/USD, LTC/USD, and DASH/USD to 20 pairs, including Neo, Tron, EOS, Stellar, IOTA, and Ether Classic as base crypto assets. XTB also offers a limited weekend trading session for crypto CFDs, helping to distinguish its offering from brokers that don’t offer weekend trading.
XTB responded to action from its local regulator in 2018, which was related to historical execution that was said to be asymmetrical. The company maintained it had rectified its policies and this practice prior to the introduction of the relevant regulation and challenged the action with an appeal. We will continue to monitor the case as it progresses.
A diverse selection of tradable securities, excellent customer service, and a unique proprietary trading platform suite, xStation 5, summarizes the highlights of XTB’s all-around competitive offering. It’s weak spot is its mobile app, which even then still meets the industry standard as far as features goes.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.
About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.