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Overall

XTB is regulated in several financial centers, and offers a wide range of markets catering well to traders looking to trade forex, crypto, CFDs, and exchange-traded asset classes on its xStation5 platform and on MetaTrader4, which supports algorithmic trading.

By Steven Hatzakis / February 18th, 2019 / Updated: March 4th, 2019

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Trust Score
Dislikes
  • Mobile app lacks syncing watchlist

Review Sections:

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Founded in Poland in 2002, X-Trade Brokers (XTB) has grown over the past 16 years to become a well-known online broker. The broker maintains offices in over a dozen countries across Europe and licensed by several major regulators including the UK’s FCA, Poland’s KNF, Germany’s BaFIN. 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, more than 20 indices, and 1,500-share CFDs, as well as more than 60 ETFs and 21 of the most popular commodity CFDs across its proprietary xStation suite of platforms, and MetaTrader4 platform by MetaQuotes Software Corporation In 2018, XTB launched cash equities, expanding into exchange-traded securities and ETFs to broaden its offering.

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. 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.

Trust Score

Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.

Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of XTB.

XTB
Year Founded2002
Publicly-Traded Company (Listed) Yes
Regulated in Major Hub Yes
Regulated in Emerging Hub Yes
Authorised in the European Union Yes

Offering of Investments

The following table summarizes the different investment products available to XTB clients.

XTB
Currency Pairs (Total Forex pairs)48
CFDs - Total Offered1728
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD 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, and with overall spreads competitive for some of the major forex pairs such as the EUR/USD.

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.

XTB pip spreads standard pro account

While we were not able to obtain average spreads from XTB as the firm publishes only the minimum and target spreads for each currency pair on its website, a representative confirmed that the target spreads, which are recorded between 8 am and 8 pm CET/CEST, are an approximate value based on historical spread quotations and should not be construed as a median or average spread.

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. In addition, unless you are a resident of the UK or Ireland, the Pro account will be your only option for opening an account with XTB.

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.

Overall, 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.

XTB
Minimum Initial Deposit$250.00
Average Spread EUR/USD - Standard0.90
All-in Cost EUR/USD - ActiveN/A
Active Trader or Premium/VIP No

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 2019 Review, 229 customer service tests were conducted over six weeks.

Results:

  • 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

Research

XTB offers a diverse range of research across its platforms and websites. Beyond streaming headlines from top-tier news providers and 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, and trade recommendations for subscribers.

Compared to last year, XTB has begun to integrate TRADEBEAT into its platform, which is a welcomed move as it was previously segmented away in a separate offering. Now traders can access TRADEBEAT headlines and premium educational content directly in the platform. Traders are also quizzed at the end of some of the educational lessons, which is a nice way for them to test whether they learned the main points of the lesson.

XTB xStation5 economic caledar
XTB xStation5 economic caledar

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.

The integration of premium research content from TRADEBEAT into the platform helped elevate the broker’s already respected research position, bringing it closer to industry peers in the multi-asset category in terms of additional research reports and analyst buy/sell ratings.

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 xStation5 heatmap
XTB xStation5 heatmap

In addition, 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.

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

Platforms & Tools

XTB’s main platform offering, xStation5, is available for web, mobile, tablet, and even iOS and Android smartwatches.

In terms of innovation, the most significant new features added in xStation5, which are not available in 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. Furthermore, in 2018, the education section was further enhanced with more advanced content.

XTB xStation5
XTB xStation5

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.

Looking at the web version, while xStation3 was flash-based, xStation5 is HTML 5 based. This is a huge difference that yields not only speed improvements but a very modern, clean design. Menus and fonts are crisp and charts look much clearer. For example, charts now 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.

XTB xStation5 charts
XTB xStation5 charts

Customizations are widespread, including 25 drawing tools and 26 technical indicators.

Customizations are widespread, including 25 drawing tools and 26 technical indicators.

The main charting tools are accessible from a side panel on the left of the chart window. Customizations are widespread, including 25 drawing tools and 26 technical indicators. 

XTB xStation5 trade ticket
XTB xStation5 trade ticket

Usability across the platform is evident as panels can easily be resized, charts can be detached for focused analysis, the trade-ticket window is cleanly designed, and multiple layout templates are available.

Moving to the 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.

 XTB xStation5 Historical Trade Analysis

It’s important to note that the Statistics tool can only be used to analyze closed trades. Thus, it is a historical trade analysis tool and not a real-time risk management tool.

One unique feature I found useful during my testing was xStation5’s connection gauge, which shows the strength of your connection as well as additional context such as any disconnects that have taken place since your current session began.

If xStation5 doesn’t satisfy your trading needs, XTB also offers the full MetaTrader 4 (MT4) platform suite: desktop, web, and mobile. Since xStation5 does not support automated trading, MT4 must be used.

Overall, XTB’s xStation suite delivers a quality experience for traders that continues to improve year over year. A desktop version of xStation5 is also incoming, which we look forward to testing in our next annual review. . All variables considered, XTB finished 7th out of 28 brokers for Platforms & Tools in our 2019 Review.

XTB
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader4 (MT4) Yes
MetaTrader5 (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

Mobile Trading

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.

XTB xStation mobile watchlist
XTB xStation mobile watchlist

The charting works well in both landscape and portrait mode, yet there are only 10 indicators and 10 drawing tools available, which have not changed over the past year. 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. 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. Also, while charts do go full screen in vertical mode, the drawing tools are only visible in horizontal mode, a minor potential nuisance.

XTB xStation mobile charts
XTB xStation mobile charts

While exploring the app there is a + sign in the upper right corner that lets you search for products to trade, while in other sections of the app a quick link allows you to create a new order from nearly any screen, both useful shortcuts. Once you reach the order ticket, the layout is clean and includes enhanced dialogue to make placing trades an effortless experience.

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.

XTB xStation mobile app research expandable news headlines tradebeat

Lastly, a nice feature within the mobile app is the ability to chat with a support representative, especially as nearly 50% of XTB’s clients use the mobile app, and not many brokers offer chat on their mobile app.

Lastly, a nice feature within the mobile app is the ability to chat with a support representative, especially as nearly 50% of XTB’s clients use the mobile app, and not many brokers offer chat on their mobile app. With chat support, you can access a support representative right within the app, which is useful considering nearly 50% of XTB’s clients use the mobile app.

One final features worth mentioning include screen locking. With screen locking, you can create a pin and set the app to lock open, preventing your phone from auto-sleeping while monitoring the markets.

Overall, the XTB mobile app provides a quality experience that is slightly above the industry standard. 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. XTB finished 15th out of 28 brokers for Mobile Trading.

XTB
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 Trend Lines Yes
Charting - Trend Lines Moveable Yes
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave No
Forex Calendar Yes

Other Notes

XTB uses the balance level and type of product you trade to determine the applicable margin tier, similar to other brokers such as Saxo Bank that have tiered margin levels depending on either the size of the positions you open and/or the amount of money in your trading account.

XTB Margin Rates

Final Thoughts

As a multi-asset broker regulated in several major financial centers, XTB provides a well-rounded experience. No question customer service is the broker’s bright spot, XTB again finished Best in Class overall in our 2019 review.

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. It has also expanded its range of cryptocurrency CFD pairs, obtained a new regulatory license in Belize, and boosted its educational tools. The broker has also opened a limited weekend trading session for crypto CFDs, helping to distinguish its offering from brokers that don’t offer weekend trading.

That said, XTB provides traders an overall offering that is above the industry standard and worth a consideration.

Methodology

For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers. Each FX broker was graded on 81 variables. 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

Reviewed by 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.

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Ratings Overall

Summary

Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Education

Commissions & Fees

Commission Notes

The Standard account has wider spreads in lieu of commission, and are 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. Meanwhile, regardless of account type used, you can choose from either MT4 or the xStation suite of platforms.

Standard Account:

  • On the Standard account the spreads are "floating" (variable) and the execution type is "market," and execution is handled by XTB’s dealing desk.
  • Max trade size of 50 lots for forex and 15 lots for indices and commodities.

Pro account:

  • The Pro account offers ‘market’ spreads and ‘market’ execution, reflecting the agency style in which XTB executes trades on an agency basis using a commission-based model.
  • Max trade size of up to 100 lots across each available asset class.
  • The round turn commission per standard lots in the Pro account is $8 per 100,000 traded or $4 per side (per standard lot), which equates to about 0.8 pips round turn.

Active Trader program:

For active traders at XTB, a portion of the spread you pay can be rebated to you, depending on your monthly trading volume, for traders that do at least 100 standard lots or more per month and based on the following table:

 XTB Liquidity Rebates

Margin notes:

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.

For example, traders with up to $14,999 in their account can have margin rates as low as 0.5%, whereas traders with anywhere from $15,000 to $259,999 in their account will have a higher margin requirement of 1% (less leverage) for the same underlying forex pairs.

In addition, margin rates depend on the asset class or product category you trade, with certain major indices grouped into the second tier, and more volatile products including commodities at the highest level or fourth tier.


Trading CFDs, FX, and cryptocurrencies involves 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 02/18/2019 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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