XTB is a globally renowned online brokerage and trading firm, was established in 2002 and has since emerged as a premier provider of retail Forex and CFD services. Operating across numerous countries, XTB is subject to regulation by esteemed financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Polish Financial Supervision Authority (KNF) in Poland. Renowned for its reliability, XTB offers exceptional customer support, an extensive range of forex and CFD options, and an exemplary trading environment. The company has introduced xStation 5, a sophisticated trading platform equipped with cutting-edge features. Moreover, XTB furnishes comprehensive educational resources and research materials.
Safety
XTB is subject to regulation by various financial authorities worldwide, including the prestigious FCA in the UK. Although listed on a stock exchange, it does not possess a banking license.
XTB operates from both London and Warsaw, representing a global brokerage founded in 2002, catering to clients worldwide, with offices spanning across more than 10 countries. A broker’s extensive track record is indicative of its ability to withstand past financial crises successfully.
Listed on the Warsaw Stock Exchange, XTB prioritizes safety by consistently and transparently disclosing its financial statements. The fact that XTB is listed on a stock exchange, regulated by financial authorities, and provides detailed financial statements are all strong indicators of its safety and reliability. They also provide negative balance protection.
| Country | Legal Entity | Regulator | Protection Amount |
|---|---|---|---|
| United Kingdom | XTB Limited (UK) | Financial Conduct Authority (FCA) | £85,000 |
| Cyprus & Hungary | XTB Limited (CY) | Cyprus Securities and Exchange Commission (CySEC) | €20,000 |
| Spain | XTB Sucursal | National Securities Market Commission (CNMV) | €20,000 |
| Other EU Clients | X-Trade Brokers Dom Maklerski SA | Polish Financial Supervision Authority (KNF) | €20,100 |
| United Arab Emirates | XTB MENA Limited | Dubai Financial Services Authority (DFSA) | No protection |
| Other Countries | XTB International Limited | International Financial Services Commission of Belize (IFSC) | No protection |
Account Opening Process
Opening an account with XTB is seamless, uncomplicated, and entirely digital. Your trading account will be operational on the same day. They welcome customers from across Europe and most countries globally.
XTB’s account opening procedure is entirely digital, quick, and uncomplicated. Completing the required forms and submitting documents typically takes around 30 minutes. Following submission, your account verification process is usually completed within a day.
Certain European clients have the convenience of verifying their identity via video chat, a valuable feature. In cases where video verification isn’t feasible, you’ll need to upload a photo or scanned copy of your ID, passport, or driver’s license. Additionally, utility bills and bank statements are accepted as valid proof of residency.
Account Types
| Account Types | Description |
|---|---|
| Standard Account | Operating with a floating spread, dependent on the available liquidity |
| Pro Account | Operating with a floating spread with a small commission to receive market-level spreads |
| Islamic Account | Compliant with Islamic law and doesn’t charge swap fees |
Products
XTB offers a diverse array of over 5,600 instruments across six categories: forex, stocks, indices, ETFs, commodities, and cryptocurrencies, subject to your geographical location. However, assets such as bonds, mutual funds, options, or futures are not part of their selection.
Stocks
UK and EU clients, excluding those in Cyprus and Hungary, have access to trading real stocks. It is worth noting that the stock product selection is quite extensive, allowing you a wide range of opportunities. XTB provides access to more than 3,000 stocks, including both CFDs and real assets, featuring renowned companies like Amazon, Barclays, and BMW, all without any commission charges. The xStation platform stands out for its analytical tools, enhancing the stock trading experience with features such as stock scanners, heatmaps, and comprehensive fundamental data such as market capitalization and P/E ratios.
Fees
XTB offers competitive trading fees alongside minimal non-trading charges. Often, withdrawals are fee-free, and stock and ETF trading come at no cost. Moreover, XTB provides interest on cash balances, with rates reaching up to 5% for USD. UK clients can also accrue interest on their cash holdings. Nonetheless, an inactivity fee is applicable.
No Stock Commissions
It’s worth noting that XTB offers commission-free trading for stocks.
| Stock Type | Commission Cost |
|---|---|
| US Stock | $0 |
| UK Stock | $0 |
| German Stock | $0 |
XTB offers real stocks exclusively to UK and EU customers, including those onboarded under XTB’s Polish entity. Trading stocks incur no commission if the monthly trading volume is below €100,000. However, while this is advantageous, it falls short of the best offers available within the industry, as some competitors provide commission-free trading with no restrictions.
Withdrawal, Inactivity & Other Fees
There are no account fees, and bank transfer deposits incur no charges. Withdrawals via bank transfer above a specified threshold (ranging between $50 and $200, depending on your country of residence) are also free. However, fees for credit/debit card or electronic wallet deposits vary depending on your country of residence and typically range up to 2%. For instance, UK customers enjoy free credit/debit card transfers, but USD transfers via electronic wallets carry a 2% fee. Additionally, after one year of inactivity, a monthly fee of €10 is applied.
| Fee Type | Fee Value |
|---|---|
| Account Fee | ❌ |
| Deposit Fee | ❌ |
| Conversion Fee | 0.50% |
| Inactivity Fee | ❌ |
| Withdrawal Fee | ❌ |
Conclusion
In conclusion, XTB is a widely recognized online brokerage and trading company that was founded in 2002 and has since become a leading provider of retail Forex and CFD services. Operating globally, XTB is regulated by reputable financial authorities. Choosing XTB is advisable if you seek a user-friendly trading platform with no commission charges and access to an extensive range of assets. Moreover, its expansion into longer-term trading options, such as Investment Plans and direct share dealing, caters to the needs of investors and passive traders.
