For this XTB review, we opened a live account and deposited €5,000

We traded the popular instrument in each market to identify the average spread and placed 12 trades in total.

We contacted the broker’s customer support to resolve the challenges we faced.

Finally, we withdrew all our funds to identify if there are any issues with withdrawals.

What is XTB

XTB is a global Forex and CFDs broker, founded in 2002.

The broker has dual headquarters in London and Warsaw and is licensed by regulators in the UK, Cyprus, Poland, Spain, and Belize.

XTB has offices in each of the countries in which it is regulated.

Here’s a summary of XTB’s key features:

πŸ—ΊοΈ Authorised & Regulated inUK, Cyprus, Poland, Spain, Belize
πŸ›‘οΈ Is Tickmill safeYes
πŸ’° EUR/USD Spread0.9
πŸ’³ Minimum depositUS$250
πŸ’° Withdrawal feeUS$0
πŸ–₯️ Trading PlatformMT4, xStation 5, xStation Mobile
πŸ“ˆ Markets offeredForex, Indices, Stocks, Commodities, ETFs, Cryptocurrencies
πŸ“‰ Number of Products2111
Note, Meta Trader 4 is only available on XTB Ltd and X-Trade Brokers DM SA.

Licenses and Regulations

XTB is licensed by 5 regulators globally including the top-tier UK’s FCA, the CySEC, Poland’s KNF, Spain’s CNMV & Belize’s IFSC.

Here’s a full list of the licenses held by XTB’s subsidiaries:

Legal entityRegistered inRegulatorLicense NumberAccepting Clients FromCompensation Scheme Amount
XTB LimitedUnited KingdomFinancial Conduct Authority (FCA)522157United KingdomΒ£85,000
XTB LtdCyprusCyprus Securities and Exchange Commission (CySEC)169/12EU€20,000
X-Trade Brokers DM SAPolandKomisja Nadzoru Finansowego (KNF)1538207Poland€20,000
XTB SucurusalSpainNational Securities Market Commission (CNMV)40Spain€20,000
XTB International Limited (XTB)BelizeInternational Financial Services Commission (IFSC)000302/46Globally many countriesNo compensation scheme
XTB Polish License

Is XTB Safe

Yes, XTB is safe to trade. XTB is a public company listed on the Warsaw Stock Exchange and as such is required to publicly disclose its financial statements, which it does on a regular basis.

The broker is also regulated by the FCA and CySEC, which are highly regarded, and traders registered under the two entities are entitled to deposit compensation schemes of up to Β£85,000 and €20,000 respectively.

We did not encounter any major issues when trading and making withdrawals with XTB.

For this review, we opened an account with XTB Ltd which is regulated by the Cyprus Securities and Exchange Commission (CySEC), which we used to deposit money, place trades, and finally withdrew our funds.

You can open an account with the UK, Cyprus, Poland and Spain entities since they all offer deposit protection if they’re available to you.

We consider the FCA regulation to be the best since it provides compensation of up to Β£85,000 in case the broker goes bankrupt, but the other three entities also provide deposit compensation of up to €20,000.

Fees and Commissions

XTB charges low fees for Forex trades, while commodities, stocks, indices and cryptocurrencies fees are average to high.

The broker charges a EUR 6.6 commission on Stocks and ETF trades with opening and closing transactions being treated as separate trades.

The commissions could add up quickly and greatly reduce your profits if you trade small contract sizes.

Spread Charged in our Trades

In our tests, we chose the popular instrument in each market. We placed 3 trades for each instrument to get a complete picture of the average spread. We tested the Standard Account which charges a spread on most assets except for stocks and ETFs, which attract a fixed €6.60 commission. Overall, the spread is stable as shown in the table below.

MarketsInstruments1st trade 2nd trade 3rd trade Avg. SpreadCommission
ForexEUR/USD0.80.80.90.83
IndicesFTSE 1001.81.81.81.80
StocksApple1111.00€6.60
CommoditiesGold0.460.40.450.44
ETFsQQQN/AN/AN/AN/A€6.60
CryptocurrenciesBitcoin189.06189.95189.65189.55

We tested all our trades via the xStation mobile app on our iPhone. We discovered that the broker only allows long trades on the QQQ ETF since we were unable to go short/sell the ETF.

We could not short QQQ

Comparing the spreads charged in our trades to industry benchmarks, we found the spread on Forex pairs to be quite low, but the spreads on commodities, stocks, indices and cryptocurrencies were in-line with industry averages or higher.

MarketsInstrumentsAvg. Spread ChargedIndustry Avg. Spread
ForexEUR/USD0.831.6
IndicesFTSE 1001.801.5
StocksApple1.001.5
CommoditiesGold0.443.8
ETFsQQQN/A
CryptocurrenciesBitcoin189.5545

Other fees

XTB does not charge non-trading fees such account inactivity fees as well as deposit & withdrawal fees.

Account Types

XTB offers 2 account types, that is, the Standard, and PRO accounts. See the differences below:

StandardPro
Execution typeMarketMarket
Available Instruments CFDs on Forex, Commodities, Indices, Crypto, Shares, ETFsCFDs on Forex, Commodities, Indices, Crypto, Shares, ETFs
Instruments 1500+1500+
Maximum Leverage1:301:30
Minimum Spread0.000080.00001
Negative Balance ProtectionYesYes
Minimal Order0.01 lot*0.01 lot*
Automated TradingYesYes
Account Setup & ManagementFreeFree
Trading PlatformsxStation & MT4xStation & MT4
Forex, Indices, CommoditiesNo CommissionCommission from 3.50 EUR per lot
StocksN/AN/A
Stocks & ETF CFDsCommission from 0.08% per lotCommission from 0.08% per lot
CryptocurrenciesNo commission

XTB also offers swap-free Islamic Accounts. The main difference with Islamic accounts is that instead of daily swap rates, there is an administration fee charged if you hold positions for more than 3 nights.

For our tests, we chose to open a Standard Account.

Account Opening

XTB account opening is fast and smooth. We opened an account to test the entire process, which was fully digital.

Here are the 5 steps to opening an XTB account:

  1. Enter your email address, country of residence and account password.
  2. Enter your personal details including your full name, date of birth, nationality, passport number, and Tax identity among others.
  3. Provide your physical address including your street, building no./name, flat no, postcode and city.
  4. Choose a trading platform, account type, currency, and preferred language.
  5. Answer questions about your experience, market knowledge and financial status.
  6. Verify your ID and residency using either a National ID or Passport and a bank statement.
XTB Welcome Bonus

The registration process took just 13 minutes and our account was approved on the same day, which was impressive!

We registered our account on 21 October 2020 and it was verified on 21 October 2020. Our account was approved shortly after submitting all the necessary documents.

We opened a standard account with XTB Ltd, which is regulated by the CySEC.

Deposit and Withdrawal

XTB offers free and fast deposits and withdrawals. There are various options for funding your account, including bank wires, credit and debit cards, and e-wallets such as Skrill and PayPal.

Minimum Deposit

XTB has no minimum deposit for individual accounts.

Deposit

XTB clients can deposit funds into their trading accounts using debit/credit cards, bank transfers, and e-wallets such as Skrill, and PayPal.

The table below shows the details of our deposits:

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Skrill2020-12-08 2020-12-08 Instantzero
Debit card2020-12-08 2020-12-08Instantzero
PayPal2020-12-082020-12-08Instantzero

All the deposit methods offered by XTB are instant and free, we did not make a deposit via bank transfers.

Withdrawal

XTB processes client withdrawals via bank transfer only, which could be a major drawback.

You cannot withdraw your funds via any of the other deposit methods available with the transfers taking an average of two days to reach our bank account.

XTB bank withdrawal confirmation

XTB does not allow you to withdraw your funds using the other payment methods except for bank wire transfers.

Payment MethodSubmitted DateFunds Released DateFunds Arrived DateWithdrawal TimeFee
Bank Transfer2020-12-162020-12-162020-12-18 2 working dayszero

Markets and Products

At XTB, you can trade CFDs on Forex pairs, stock indices, stocks, commodities, ETFs and cryptocurrencies.

Here’s the complete list of XTB’s product offering:

MarketsInstruments
Forex57
Indices42
Stocks1849
Commodities23
ETFs119
Crypto25

Bitcoin

XTB offers several cryptocurrency products including Bitcoin, which is the most popular and largest crypto by market capitalization. XTB offers a good range of Cryptocurrencies up to 25 instruments. However, the trading fees for cryptos are quite high with the average bitcoin spread being 189.55 pips.

Trading Conditions

The trading conditions at XTB are good. You can run most types of trading strategies as the broker allows high-risk strategies such as hedging and scalping.

There are no time limitations for keeping your hedging positions open. Tickmill also allows the use of Expert Advisors (EAs).

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageNo

Leverage

XTB offers different leverage levels to its clients depending on the entity under which they registered their account.

However, traders cannot change the leverage level of their account after registration.

The table below outlines the various leverage levels available to clients:

MarketsXTB LimitedXTB LtdX-Trade Brokers DM SAXTB SucursalXTB International Ltd
Currency pairs30:130:130:130:1500:1
Gold20:120:120:130:1500:1
Other Commodities (except gold)10:110:110:110:167:1
Indices20:120:120:120:1100:1
Stocks5:15:15:15:15:1
ETFs5:15:15:15:15:1
Cryptocurrencies2:12:12:12:15:1

Trading Platform

XTB offers a proprietary trading platform known as xStation as well as the popular MetaTrader 4 (MT4) platform. Therefore, most traders will be at home with this broker.

XTB xStation Trading Platform

In our test, we placed all our trade through the xStation mobile app.

xStation

XTB offers the xStation trading app, which is a proprietary platform developed by the broker.

This is a great alternative to the popular Meta Trader 4 (MT4) platform for traders who want a modern trading platform.

Research and Tools

XTB provides user-friendly research tools including:

  • Interactive charts
  • Market analysis
  • News flow
  • Trading ideas
XTB Markets Research

Education

XTB offers a wide variety of educational materials including:

  • A demo account
  • Webinars
  • Ebooks
  • Video Tutorials about the platform
  • Detailed educational articles
  • Educational videos

XTB educational materials are grouped according to a trader’s experience and based on various subjects, which we found to be very helpful.

You can find the educational resources in the broker’s trading academy section under the learn to trade tab.

XTB Education Trading Academy

Customer Service

XTB’s customer support team was helpful and provided relevant answers to our questions.

XTB Customer Service

You can contact XTB via email, and live chat. We got an instant response to our questions via the live chat function.

Our email queries were answered within one working day for our first question with our followup question being answered on the same day.

See the results of our test below:

QuestionResponse TimeQuality of reply
Live chatIs hedging and scalping allowed?InstantDirect and accurate
EmailWithdrawal methodsOne working dayDirect and accurate

Conclusion

Overall, our experience with XTB was smooth from opening account, to deposit, trading and withdrawal.

However, XTB charges a EUR 6.6 commission on Stocks and ETF trades with opening and closing transactions being treated as separate trades, which could be an expensive trading fee if you are trading small contract sizes.

On the positive side, XTB carries several licenses and the spreads on currency pairs are quite low; the broker also allows scalping.

We recommend XTB to currency traders and traders who would like to run scalping strategies.


Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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