Top Options
82%/ 100
Type of Broker: Forex, CFD
Payout: N/A
Min Deposit: $250
Min Trade Amount: 0.01 lots
US Clients:
Free Demo Account:
Max Trade Amount: 10 lots
Leverage: 1:100
Fees:
Fees: No fees charged
Number of Assets: 1500
Types of assets: Stocks, Forex, Indices, Commodities, ETFs
Option Types: Buy/Sell
Expiry Times: N/A
Charting Package:
Trading Signals:
Market Analysis:
Education: Yes

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Full Review

This is a review of the forex brokerage system of XTB. Find out more about this little known forex broker, providing regulated brokerage services.

Introduction

Founded in in 2002, X-Trade Brokers (XTB) is an online CFD and Forex broker with offices in 13 European countries that include Poland, the UK, Romania, Germany, France, the Czech Republic, among others. The company is currently the fourth largest stock exchange listed CFD and forex brokerage firm in the world. In 2016, Online Personal Wealth Awards voted XTB as the best trading platform. The company has won other various awards to boot. They accept clients from all parts of the world, except the United States, Nigeria, India, Indonesia, Bangladesh, and Pakistan.

Regulation

XTB is regulated by many financial regulatory bodies like the UK’s FCA, Germany’s BaFin, Turkey’s CMB, as well as Poland’s KNF. This makes them a global broker with a local touch, adhering strictly to set rules to ensure integrity and transparency.

Is XTB Legit or a Scam?

When you are looking for a forex broker to handle your trades, it is normal that you would insist on knowing whether they can be trusted or not. Having carefully considered all the aspects of the system, we can state in clear terms that XTB is not a scam, but a legit trading application. We have been following the aspects of its legitimacy for a while now and found it to be genuine due to the following reasons:

  • XTB is one of the biggest publicly owned CFD and forex brokerage firm in Europe and indeed, the entire world. With its reputation on the line, they would not do anything that would damage their corporate image. For them, reputation is critical for survival.
  • XTB’s operations are guided by some form of compulsory regulation that is backed up by legal sanctions. So the company is always careful to avoid malpractice and other acts that could compromise the organization.
  • XTB protects traders’ funds under the Financial Services Compensation Scheme (FSCS). This means that if XTB ever becomes insolvent, their customers can receive compensation up to a maximum amount of 50,000 pounds.
  • XTB operates with full transparency in respect of pip values and pips.

XTB Legit Trading Application

XTB features two major trading platforms that enable its clients to choose from some of the world’s most reliable platforms. They include:

  • The MetaTrader 4 platform. The MT4 platform offered by XTB features a wide array of trading tools. It allows automatic trading and is available for download on smartphones and tablets.
  • xStation 5 platform. This super-efficient platform delivers an average execution time of 85 milliseconds. It comes with several trading features like advanced chart, trading calculator, equity screener, as well as trader statistics. And just like the MT4 platform, one of its attributes include friendly mobile versions that can be downloaded to different devices.

XTB App’s Special Trading Tools

The XTB software offers a diverse range of tools across its platforms and websites. Some of these key trading tools consist of:

  • XTB streams headlines from major news providers to keep traders informed about events in the market as they develop.
  • Economic Calendar. XTB offers an economic calendar, which enables traders to track market-moving occurrences in the market. The tool allows traders to pay close attention to announcements that impact the direction of the market.
  • Stock Screener. This unique trading tool allows traders to filter basic field so that they can arrange tradable single-stock CFDs.

Asset List

XTB offers a rich list of tradable assets, enabling traders to engage in varying trades to maximize profit. These assets are listed in categories that include:

  • XTB offers some of the tightest forex spreads in the industry. The spreads begin at 0.28 pips, while the maximum leverage is put at 1:200. The platform offers all the major pairs including EUR/USD, GBP/USD, USD/JPY, EUR/GBP, as well as USD/CHF, among others.
  • XTB allows trading in about 20 indices from across some of the most liquid markets around the globe.
  • XTB offers a substantial list of commodities that includes gold, oil, silver, natural gas, and so many others.
  • XTB allows traders to trade stocks of some of the world’s most reputable organizations like Facebook, Amazon, Google, Alibaba, American Airlines, and Apple, among others.
  • Traders on the XTB platform also trade various ETFs like SPDR S&P 500 ETF, UK FTSE 100, and lots more.

Transaction Methods

XTB allows you to finance and withdraw funds from the trading platform using the following methods:

  • Wire Transfer. XTB lets traders make transfers from one bank to another without hitches.
  • Credit/Debit cards. XTB allows traders to fund their trading account using cards. You can use Maestro, VISA, and MasterCard to carry out transactions whenever you like.
  • Traders on the XTB platform can use digital wallets such as Skrill, PayPal, and Neteller to conduct operations.

Customer Support

XTB’s customer service department personnel are polite, knowledgeable, and helpful at all times. They help to resolve issues without delay. Traders who wish to contact support can do so through different channels such as live chat, email, and telephone. Telephone support is available 24/5 on +44 2036953086. The support services email is given as [email protected]

Conclusion: XTB is Legit

XTB is not a scam platform. It is regulated in many major financial centers and is suitable for traders of all category, as it is designed to suit all levels of client experience. We discovered that the service the company offers exceeds expectations and so encourage traders to try out their services and experience fast execution service, tight spreads, as well as minimal order slippage.

The customer support team is always available to assist with the slightest of issues to ensure that all problems are resolved in record time to enable you to continue trading.