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XTB Review

Steven Hatzakis

Steven Hatzakis | November 13th, 2020

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

As a trusted multi-asset broker, XTB offers traders outstanding customer service and an excellent trading experience overall thanks to the xStation 5 trading platform.

Top Takeaways for 2020

Here are our top findings on XTB:

  • Founded in 2002, XTB is publicly-traded and regulated in one tier-1 jurisdiction, making it a safe broker (low-risk) for trading forex and CFDs.
  • XTB's xStation platform suite provides excellent usability alongside a robust selection of trading tools, research, and advanced features. XTB is also a viable option for cryptocurrency trading.
  • XTB provides outstanding customer service. In 2020, XTB finished 1st place (out of 22) in our national testing from locations across the United Kingdom.

Overall Summary

FeatureXTB
Overall 4.5 Stars
Trust Score92
Offering of Investments 4 Stars
Commissions & Fees 4 Stars
Platforms & Tools 4 Stars
Research 4.5 Stars
Mobile Trading 4 Stars
Customer Service 4.5 Stars
Education 4 Stars

Is XTB Safe?

help 92
Trust Score

XTB is considered low-risk, with an overall Trust Score of 92 out of 99. XTB is a publicly traded company that is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). XTB is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

FeatureXTB
Year Founded2002
Publicly Traded (Listed) Yes
Bank No
Tier-1 Licenses1
Tier-2 Licenses1
Tier-3 Licenses1
Trust Score92

Offering of Investments

Rank: 10th

XTB provides traders access to CFDs on 3900 stocks and ETFs, 22 commodities, 42 indices, 25 cryptocurrencies, and 49 forex pairs. Furthermore, the broker also provides nearly 7800 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.

FeatureXTB
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs)49
CFDs - Total Offered9600
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

XTB offers two account types: Standard (spread-only) and Pro (commission-based). Bottom line, pricing at XTB is in line with the industry average.

Average Spreads: XTB lists target spreads on the EUR/USD for its various account types, 0.949 pips on the standard account, and 0.349 pips for the commission-based Pro account, as of August 2020. During the main session (00:00-08:00) averages spreads were slightly better at 0.859 (Standard) and 0.259 (Pro) during the same period. Using data from Q2 2020, XTB average spreads on the EUR/USD stood at 0.086, while the Pro account spread averaged nearly 0.03 (or 1.1 pip after including the commission-equivalent of $8 per round turn standard lot ($4 per side). One final point is that I found the MT4 account spreads to be slightly higher than when using XTB's flagship platform xStation 5.

Standard vs. Pro accounts: With minimum deposits at XTB that start at 250 base currency (i.e., £250, €250, or $250), the Pro account is similarly priced to the Standard account when trading higher volumes. Meanwhile, for smaller amounts, the Standard account appears cheaper. My choice for retail traders would be the standard account, which had an average spread of 0.86 pips during Q2 2020 for the EUR/USD pair.

Active trader discounts: For active traders (and those in the EU who meet the definition of elective professionals), XTB will rebate a portion of the spread (from 5% to 30%) back to you when you reach certain volume thresholds, starting from 20 lots per month to as much as 1000 lots for the full 30% discount. This active trader program is known as XTB's lower spread group and helps the company compete with similar offerings from FXCM, FOREX.com, and CMC Markets.

FeatureXTB
Minimum Initial Deposit$0.00
Average Spread EUR/USD - Standard0.86 (Q2 2020)
All-in Cost EUR/USD - Active0.78 (as of Q3 19)
Active Trader or VIP Discounts Yes

Platforms & Tools

XTB offers two platforms: xStation 5 and MetaTrader 4 (MT4). The xStation 5 platform comes with a minimalist design, yet packs powerful tools and is rich with features. Hands down, xStation 5 steals the show and goes toe-to-toe with platform titans CMC Markets, IG, and FXCM.

xStation 5 trading tools: XTB's flagship platform offering, xStation 5, delivers an excellent experience for web, mobile, tablet, and even iOS and Android smartwatches. Trading tool highlights include heat mapping (view top movers by color), a versatile stock screener, and sentiment analysis, which shows the percentage of XTB clients that are long or short per instrument.

xStation 5 charting: Beyond its modern and responsive design, several unique features help xStation 5 stand out. For example, I loved the fact that charts include a countdown timer showing the remaining time left in each candlestick. As another example, economic news releases appear along the bottom axis within charts, providing traders insights during important economic events. In total, 29 drawing tools and 37 technical indicators are available.

xStation 5 innovation: One very innovative feature in xStation 5 is the new "investment basket" tool, which allows you to create a thematic basket of various symbols, and then place a single order to execute them all in one click. The custom baskets can contain both long and short positions, making it quite useful for trading more sophisticated strategies.

MetaTrader: Since xStation 5 does not support automated trading, MT4 is the only alternative (MT5 is not offered). Automated trading aside, given that MT4 is slightly more costly, due to higher spreads, xStation 5 is the preferred choice at XTB.

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FeatureXTB
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting - Indicators / Studies (Total)51
Charting - Drawing Tools (Total)31
Charting - Trade From Chart Yes
Watchlists - Total Fields7
Order Type - Trailing Stop Yes

Research

When it comes to research, XTB competes among the best in the industry thanks to high quality analysis from both its in-house staff and third-party providers.

Premium content: While Trading Central and Autochartist are not available, XTB makes up for it by offering exclusive strategies as part of its Premium Research service. Beyond streaming headlines from top-tier news providers, an economic calendar, market sentiment, and other platform tools for research, XTB provides written articles from its staff and video content on YouTube.

Research tools: Helping to lift its ranking as a multi-asset broker in this category, XTB provides a stock screener that lets you filter necessary fields to sort through over 1700 tradable single-stock CFDs and cash equities. This screener can be a useful research tool for scanning symbols to trade. Also, trading signals are included within the news panel with price analyses from Thomson Reuters, Barclays, Citi Group, and others.

Daily videos: I found that XTB lacks a variety of daily market updates when it comes to its English video content on YouTube. That said, its other supported languages, such as Polish, German and Italian, produce daily video updates more actively.

News filtering: In the news headlines section, identifying articles written by XTB's in-house staff versus third-parties is not seamless. In comparison, Saxo Bank separates these on its web platform. As a trader, I appreciate what XTB's staff says, so being able to filter or easily identify in-house content would be a welcomed enhancement.

Gallery

FeatureXTB
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Social Sentiment - Currency Pairs Yes
Economic Calendar Yes

Education

Overall, I was left impressed with XTB's education offering, thanks to its extensive written content and video materials. The only drawback is a lack of live webinars currently, although archived recordings are available.

Education overview: XTB provides a variety of materials on its website under the "Learn To Trade" section, which includes content that can be viewed by topic or by experience level, along with premium materials.

Written content: Besides the platform tutorials in its beginner course, there are at least ten lessons containing forex and CFD education, along with quizzes at the bottom of each category. Likewise, the intermediate course has multiple platform tutorials and nearly ten lessons. There are also dozens of articles covering broader subjects such as, "What are macroeconomic indicators."

Video content: XTB provides five videos under its Trading Academy playlist on YouTube, along with 17 videos in its Masterclass series, with one even spanning 11 hours in duration. Many of these videos are also integrated into the Premium section from within the xStation 5 web platform and mobile app.

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Mobile Trading

While MetaTrader 4 is available, XTB's proprietary xStation 5 mobile app is far superior. No question, XTB's mobile app keeps up with the best forex brokers.

xStation mobile features: the xStation app is cleanly designed with several features that match its web counterpart, such as streaming news, pre-defined watch lists, an economic calendar, top movers, and client sentiment data. Several integrated videos in the mobile app also provide webinar-style educational content, with multiple videos that are over one hour long.

xStation charting: While I was disappointed to find that the watch list does not sync with the web version of the platform and that there are nearly half as many indicators (13 total), xStation 5 charts are still a pleasure to use. For example, trend lines and drawings automatically save, and it was a smooth process to add or remove indicators while zooming in on various time frames.

Gallery

FeatureXTB
Android App Yes
Apple iOS App Yes
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting - Indicators / Studies30
Charting - Draw Trendlines Yes
Charting - Trendlines Moveable Yes
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave Yes
Forex Calendar Yes

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: <1 minute
  • Average Net Promoter Score: 9.1 / 10
  • Average Professionalism Score: 9.7 / 10
  • Overall Score: 9.40 / 10
  • Ranking: 1 st (22 brokers)

Final Thoughts

XTB is a trusted brand that provides a broad selection of tradable securities, outstanding customer service, competitive research, and a unique proprietary trading platform suite, xStation 5, with innovative features. Less pricing, which is just average, XTB left me thoroughly impressed and is worth a close consideration for trading forex and CFDs in 2020.

About XTB

XTB was founded in Poland in 2002 and has since grown to become a well-known broker for trading forex and CFDs. With a market capitalization of $546M as of September 2020, XTB is publicly traded on the Warsaw Stock Exchange (WSE: XTB.PL). XTB serves nearly 200,000 clients globally as of its 2020 H1 report for the first of the year. 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. XTB holds indemnity insurance of up to $1M per client claim, and up to $5M total through its Belize entity.

XTB Trading Features

FeatureXTB
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
cTrader No
Charting - Indicators / Studies (Total)51
Charting - Drawing Tools (Total)31
Charting - Trade From Chart Yes
Watchlists - Total Fields7
Order Type - Trailing Stop Yes

XTB Research Features

FeatureXTB
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Social Sentiment - Currency Pairs Yes
Economic Calendar Yes

XTB Mobile App Features

FeatureXTB
Android App Yes
Apple iOS App Yes
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting - Indicators / Studies30
Charting - Draw Trendlines Yes
Charting - Trendlines Moveable Yes
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave Yes
Forex Calendar Yes

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

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.


Steven Hatzakis

About the author: 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.

Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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