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XTB Review

Steven Hatzakis

Steven Hatzakis | July 5th, 2019

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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.

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.

Review Summary

Rank: 7th (of 28)

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.

Benefits

  • 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.

Considerations

  • Mobile app lacks syncing watchlists.

Is XTB Safe?

help 90
Trust Score

XTB is considered low-risk, with an overall Trust Score of 90 out of 99. XTB is a publicly traded company that is authorised by one tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). XTB is authorised by the following tier-1 regulator: Financial Conduct Authority (FCA). Learn more about Trust Score.

Trust Comparison

FeatureXTBIGSaxo BankCMC Markets
Year Founded2002197419921989
Publicly Traded (Listed) Yes Yes No Yes
Bank No Yes Yes No
Tier-1 Licenses1664
Tier-2 Licenses1412
Tier-3 Licenses0000
Trust Score90999898

Commissions & Fees

Rank: 12th (of 28)

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.

Benefits

  • 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.

Considerations

  • 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.

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Further Reading

Fees Comparison

FeatureXTBIGSaxo BankCMC Markets
Minimum Initial Deposit$250.00£250.00$2,000.00$0.00
Average Spread EUR/USD - Standard0.9000.7500.9000.744
All-in Cost EUR/USD - Active0.8000.3630.6000.744
Active Trader or VIP Discounts No Yes Yes Yes
Commissions & Fees 4 Stars 4.5 Stars 4.5 Stars 5 Stars

Platforms & Tools

Rank: 7th (of 28)

XTB’s xStation 5 delivers a high quality experience for traders that continues to improve year over year.

Benefits

  • 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.

Considerations

  • 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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Further Reading

Tools Comparison

FeatureXTBIGSaxo BankCMC Markets
Virtual Trading (Demo) Yes Yes Yes Yes
Proprietary Platform Yes Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes Yes
Web Platform Yes Yes Yes Yes
Social Trading / Copy-Trading Yes Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes No Yes
MetaTrader 5 (MT5) No No No No
cTrader No No No No
Charting - Indicators / Studies (Total)51224781
Charting - Drawing Tools (Total)31171724
Charting - Trade From Chart Yes Yes Yes Yes
Watchlists - Total Fields712128
Order Type - Trailing Stop Yes Yes Yes Yes
Platform & Tools 4 Stars 4.5 Stars 4.5 Stars 4.5 Stars

Customer Service

Rank: 2nd (of 28)

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

Rank: 11th (of 28)

XTB offers a diverse range of research across its platforms and websites.

Benefits

  • 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.

Considerations

  • None.

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Further Reading

Research Comparison

FeatureXTBIGSaxo BankCMC Markets
Daily Market Commentary Yes Yes Yes Yes
Forex News (Top-Tier Sources) Yes Yes Yes Yes
Weekly Webinars No Yes Yes Yes
AutoChartist No Yes Yes No
Trading Central (Recognia) No No No Yes
Delkos Research No No No No
Social Trading / Copy-Trading Yes Yes Yes Yes
Social Sentiment - Currency Pairs Yes Yes Yes Yes
Economic Calendar Yes Yes Yes Yes
Research 4 Stars 4.5 Stars 4.5 Stars 4.5 Stars

Mobile Trading

Rank: 15th (of 28)

The XTB mobile app provides traders a respectable experience that is slightly above the industry standard.

Benefits

  • 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.

Considerations

  • 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.

Gallery

Further Reading

Mobile Apps Comparison

FeatureXTBIGSaxo BankCMC Markets
Android App Yes Yes Yes Yes
Apple iOS App Yes Yes Yes Yes
Trading - Forex Yes Yes Yes Yes
Trading - CFDs Yes Yes Yes Yes
Alerts - Basic Fields Yes Yes Yes Yes
Watch List Yes Yes Yes Yes
Watch List Syncing No Yes Yes Yes
Charting - Indicators / Studies30264123
Charting - Draw Trend Lines Yes Yes Yes Yes
Charting - Trend Lines Moveable Yes Yes Yes Yes
Charting - Multiple Time Frames Yes Yes Yes Yes
Charting - Drawings Autosave No Yes Yes Yes
Forex Calendar Yes Yes Yes Yes
Mobile Trading 3.5 Stars 4 Stars 4.5 Stars 4 Stars

Offering of Investments

Rank: 11th (of 28)

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

Offering Comparison

FeatureXTBIGSaxo BankCMC Markets
Forex: Spot Trading Yes Yes Yes Yes
Currency Pairs (Total Forex pairs)4891182183
CFDs - Total Offered172815000329999959
Cryptocurrency traded as actual No No No No
Cryptocurrency traded as CFD Yes Yes No Yes
Offering of Investments 3.5 Stars 4.5 Stars 4.5 Stars 4 Stars

Other Notes

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.

Final Thoughts

Rank: 7th (of 28)

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.

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

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.

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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