XTB Review: Is this broker legit, safe and trustworthy for Indians?
Review: This Polish broker is one of the largest publicly traded Forex and CFD brokers in the world, and it has been in the business of facilitating trades since 2004.
Review: Over the years, XTB has garnered a slew of prestigious honours for its work as a major European online broker.
Review: Due to a large number of celebrity sponsorships throughout the years, XTB has established itself as a broker that is tough to overlook.
However, the thing you really want to know is whether or not XTB is a good broker.
Review: Traders may benefit from commission-free trading on more than 2,000 tradable instruments across a diverse variety of global marketplaces.
Review: We were able to establish the presence of a welcome bonus during our review of XTB. However, the offer of an extra 50 percent match of your initial investment is only accessible to non-EU/UK residents who do not reside in the EU/UK. The reason for this is because monetary incentives for retail trading are not permitted under FCA and EU laws.
Review: Opening an account with XTB is a straightforward and relatively quick process. Taking the time to fill out the forms will take no more than 5 minutes, and submitting the necessary papers for the KYC will take no more than 10 - 15 minutes. The entire procedure is done digitally, and rookie traders aren't overwhelmed with challenging inquiries from the beginning. You may be questioned about your trading history, but as a newbie, you may just reply with no and zero to any and all of the inquiries you are presented with.
This review of XTB was completed in less than 24 hours, thanks to the rapidity with which we received verification.
In fact, we discovered that certain European clients may even verify their identification through a video chat session, which might be really convenient.
Upon signing up for an XTB account, all users will have access to a free XTB sample account.
Review: The number of features, the number of tradeable products, and the number of trading platforms available are all meaningless if the package is difficult to use. That is not the case here, as our analysis of XTB revealed that both rookie and expert traders may benefit from the platform's very user-friendly and straightforward interface.
Review: In the first place, the company's own xStation 5 trading platform is extremely configurable, which means that traders may tailor the platform to their specific needs. This is beneficial for both seasoned traders who are set in their ways and rookie traders who may require tweaks in order to feel more comfortable trading for the first time in their careers.
Review: Then there's the XTB website itself - here is where traders will get the most of their trading insights, and this is also where novice traders will find the majority of the broker's details. The website, much like our FP Markets review, is easy to use, has clear headings, and provides a wealth of information.
Review: As we discovered in our Plus500 review, there are two major account types at XTB - the regular account and a Pro account known as the Advanced account. The standard account is the most basic of the two. During our investigation of XTB, we also discovered that the company offers a third Swap Free account that is consistent with Sharia Legislation - an Islamic version of law that forbids the accrual of interest on monies held in a bank or other financial institution. An account with no rollover swap points on positions held for more than 24 hours is required as a result, and no income is received on these positions.
Review: The regular account is completely free to establish and allows you to access all of the 2,100+ financial products available at XTB. There is a 30:1 maximum leverage restriction in place, and the minimum spreads are 0.35. Standard accounts also come with a personal account manager, which is something that is often only available to professional accounts at other brokers, as well as the ability to use automated trading. As compared to some other prominent brokers on the market, there are less currencies accessible with this broker. Traders can open an account in any currency, including major and small currencies.
Review: Pro accounts are available, but you will not be able to register for one right away on the XTB website.
Rather, the account is referenced to in the FAQs and Fee Structure, which are both available online.
Review: Traders should contact XTB directly if they wish to open a Pro account, which is effectively the same as a corporate account.
Review: At XTB, it's all about having options. But does this imply that XTB is a good investment? To be sure, as traders may take use of two distinct trading platforms: XTB's own xStation 5 as well as the widely used MetaTrader 4. Every trader who has spent more than 5 minutes in the virtual world of online trading has heard of MetaTrader — it is one of the largest and most widely used trading platforms in the world, and it is jam-packed with useful features. Web traders, desktop applications, and mobile applications are all accessible for both of these platforms.
Review: MetaTrader 4 is an established and tested platform that offers many charting options as well as excellent performance when using trading robots. Despite the fact that MetaTrader 4 is one of the most intuitive trading platforms available, many traders will recall that it was one of their first platforms to use. It is also a fantastic platform for novices to begin utilising automated training for the first time. For our XTB review, we put the xStation 5 through its paces. xStation 5 is a highly customisable trading platform that is available in more than a dozen languages and allows traders to place the following order types: Market Limit Stop Stop-Loss Take Profit Trailing Stop Market Limit Stop Stop-Loss Take Profit Trailing Stop
Review: As well as setting up several alerts and notifications, you'll have access to clear and comprehensive reports on your portfolio that include the profit and loss of all of your holdings, among other things.
Review: Our investigation of XTB uncovered payment choices that were not different from those of CFD trading behemoth Plus500. Traders have the option of using credit/debit cards, a variety of e-wallets, or bank transfers to complete their transactions. Not everything is free, though; card and e-wallet deposits are subject to a cost of around 1 – 2 percent, depending on your jurisdiction, whereas bank transfer deposits are completely complimentary. When utilising credit/debit cards, traders in the United Kingdom and the European Union may rejoice since GBP and EUR deposits are completely free. The majority of card and e-wallet deposits are completed instantly, however bank transfers might take anywhere from 2 to 5 days.
Review: Withdrawals are usually free of charge. You'll only need to take out money if your total amount borrowed exceeds a set threshold, which can range between $50 and $200. During our XTB research in the United Kingdom, we discovered that Bank Transfers are the sole withdrawal option available. For each withdrawal under £60, dealers in the United Kingdom will be charged a £12 withdrawal fee. However, in contrast to some trading sites, our withdrawal was processed within one business day.
Review: Our investigation into XTB revealed that there are no forex commissions on the regular account — with the exception of equities trading. Trades on the pro account, on the other hand, are subject to commission. So, how does XTB generate its money in this case? Instead of commissions, the fees are included into the spreads, as is the case with all other commission-free brokers.
Review: Although this implies that the costs are subject to change, we discovered that the spreads were quite modest when compared to the market average. For example, we maintained a stake in an S&P500 stock as a CFD for one week and only had to pay $1.5 in commission costs. A minimal commission of 0.08 percent is charged on stock index and exchange-traded fund (ETF) trading in most markets, with a minimum cost of $8 in the majority of them.
Review: If you are trading with XTB, you should be aware of two significant fees to consider. For starters, a 30 percent withholding tax is levied on all dividends received from US-based firms, regardless of where the payment is paid. Second, if you trade an asset that is denominated in a currency other than your base currency, you will be charged a currency conversion fee, which is typical among online brokers.
Review: There are no account administration fees, with the exception of a €10 monthly charge for accounts that are inactive. Inactivity, according to XTB, is defined as one year of no trading combined with the failure to make a deposit during the previous 90 days.
Review: Is XTB Reliable in Terms of Customer Service? When it comes to online trading platforms, customer service is an extremely crucial component. If you stay in the trading business for a long enough period of time, you will need to ask your broker questions, and problems may develop from time to time. When we reviewed XTB, we were unhappy to find out that they only provided 24/5 support - in this day and age, for a broker of this scale to not provide 24/7 assistance is regrettable. Despite this, the 25/5 spread is still fairly useful, especially considering that most individual investors won't be trading on weekends anyhow.
Review: There are three different methods to get in touch with the XTB customer care department. For starters, there is always a live chat option available on the platform. Although it is mostly a bot-operated system, we were able to obtain quick and accurate replies. The majority of the time, they were guiding us to the right portion of the website or FAQs. The language support, on the other hand, was excellent, with numerous minor languages such as Romanian and Hungarian being supported.
Review: A single email is used for email support, and for our test throughout the evaluation of XTB, we just asked some assistance from the company. Our phone call was returned within 1 - 2 hours, which was both surprising and excellent considering how long it had been. Additionally, the email answers that we did receive were pertinent. Phone support is the primary mode of communication with customers. Opening an account has its own dedicated number, which is usually used for KYC difficulties, and there is another line for all other customer care inquiries. Every one of our phone calls was addressed immediately, and the replies were always appropriate.
Review: Though it would have been preferable to have had 24/7 support, the quality of the XTB support is excellent and more than makes up for the lack of weekend assistance.
Review: When it comes to picking a broker, the importance of regulation cannot be overstated. If you are investing your money with a broker that is not regulated in any manner, you should avoid doing so. You should look for a broker who has a proven track record that you can verify.
Review: Because we did the legwork for you throughout our study of XTB, we were able to determine that this broker is regulated in various jurisdictions, including regulation by six respected authorities:
The Financial Conduct Authority of the United Kingdom (FCA)
DFSA stands for Dubai Financial Services Authority (DFSA)
Belize's International Financial Services Commission (IFSC) regulates international financial services (IFSC)
Cyprus Securities and Exchange Commission (Cyprus Securities and Exchange Commission) (CySEC)
Polish Financial Supervision Authority (Polish Financial Supervision Authority) (KNF)
Spain's National Securities Market Commission (CNMV) regulates the country's securities markets.
Review: The Financial Conduct Authority (FCA) is also a tier-1 regulator. Our company has been in operation since 2002, which allows us to look back on a lengthy history of legality and security. Is XTB a legitimate company? For starters, XTB is publicly traded on the Warsaw Stock Exchange, which is a terrific indicator of credibility, and it also assures excellent openness in their financial reporting.
Review: Is XTB a secure platform? Yes, and our investigation of XTB found a number of investor safeguards that are applicable in a variety of jurisdictions. Clients in the United Kingdom, for example, are covered up to £85,000 by the Financial Conduct Authority, while clients in Europe are protected up to around €20,000.
Review: There are several tools for market research available on XTB, including Price Tables, Market News, and an economic calendar. The calendar is interactive, and each economic indicator is assigned a market effect rating based on how significant it is to the market. This section contains written market news, and you'll discover a wealth of information from XTB's market specialists on a variety of topics.
Review: In addition, we discovered several excellent instructional resources throughout our investigation of XTB. There are a wide variety of classes available in the Learn to Trade department, ranging from absolute beginner to premium expert level. Full courses are available on a variety of topics, including how to use price alerts, how to undertake trend analysis, and how to comprehend the fundamentals of contract for difference trading.
Review: XTB provides 48 forex currency pairs that may be traded in the spot market on two different trading platforms. Major, minor, and unusual pairings are among the options available. XTB offers minimal spread trading, and currency pairings can be traded on both the MetaTrader 4 and the xStation platforms, which are both available through the company.
Review: As a retail investor, you will not be charged any commissions when trading forex with XTB. The fees are included in the spreads, which are quite minimal — starting at 0.1 pip and going up from there. Except when trading with a swap-free account (also known as an Islamic account), there are fees associated with maintaining a position overnight in the financial markets. Commissions on foreign exchange trades are levied against Pro account holders.
Review: Micro-lot trading is allowed, and leverage of up to 30:1 can be used to increase profits. There must be a minimum of 0.01 lots and a maximum of 50 lots in each order placed. Traders will be able to access automated trading using the MetaTrader 4 platform, and the markets will be open 24 hours a day, five days a week.
Review: A complete Forex trader, XTB offers low spreads, no fees, and a choice of different trading platforms to choose from. Micro lot orders, similar to what we discovered in our analysis of Forex.com, allow experienced traders to take control of their transactions while minimum order amounts are extremely modest - ideal for beginning investors.
Review: XTB is a complete CFD trading platform that offers CFDs on stocks and exchange-traded funds (ETFs). This broker offers more than 1,500 worldwide stock CFDs, including well-known companies such as Apple and Facebook, among others. There are also more than 80 exchange-traded funds (ETFs) available to help you diversify your portfolio.
Review: The exchange does not charge account maintenance fees, and commissions are quite minimal. On stock trades, traders may expect to pay a cost of 0.08 percent, and the same low commission applies to ETF trades as well. Beginners may trade with a cheap minimum order of $8, which is also a good starting point.
Review: Traders may now trade CFDs at XTB using any of the two trading platforms that were previously available. Both exchange-traded funds (ETFs) and equities can be traded with 5:1 leverage. There will be no requotes, and investors will be able to short and purchase equities in the form of CFDs.
Review: In addition to offering extremely cheap costs and the flexibility to use fair leverage, XTB is a very economical CFD trading platform. There are no account maintenance fees, and investors can buy with a cheap minimum purchase of $8; however, shorting must cost at least $50 to be effective.
Review: Brokers are not going to give anything up for free. A certain amount of give and take is inevitable, with some brokers offering a more reasonable service than others.
Review: When it comes to fees, XTB is quite clear, and this broker offers several options to view their price structure.
Review: XTB, like many other online brokers, accepts a number of alternative payment ways to accommodate the demands of traders at all levels of experience. Go to the XTB website or read our review of XTB to find out more about the minimum deposit requirements and any maximum limits that may apply at the site.
Review: There are several different types of trading accounts that can be created at XTB, and each one has its own set of conditions that must be fulfilled. Check out our comprehensive analysis of XTB for more information on which account type is best suited to your trading ability and requirements.
Review: Given the high level of regulation, many investor safeguards, and the high level of transparency that comes with being a publicly listed business on the Warsaw Stock Exchange, our UK assessment of XTB revealed that it is a truly safe and legitimate broker.
Review: A maximum leverage of 30:1 is available to investors who can trade in more than 2,100 different securities. Investors may trade in commission-free CFDs on a variety of trading platforms, allowing them to choose their own trading parameters.
However, depending on your payment method of choice, deposits and withdrawals may be prohibitively costly. Given the plethora of advantages that XTB offers, it is an excellent alternative for both rookie traders and seasoned investors.
Review: XTB is a global CFD and FX broker that began operations in 2002 under the name X-Trade before rebranding as X-Trade Brokers two years after that. The most recent iteration, known as XTB Online Trading or XTB, was launched in 2009. In 2016, under the same name, the broker went public on the Warsaw Stock Exchange, being the first Polish company to do so.
Review: XTB is best known for its xStation 5 web-based trading platform, which is available on the company's website. More than 3,000 distinct markets, including bitcoin, commodities, metals, FX, equities, and exchange-traded funds (ETFs), are accessible through the system.
Review: A reputation for excellence has been established by the forex and CFD broker in an increasingly competitive online trading environment. Despite the fact that its operational costs are comparable to those of other forex brokers, XTB routinely offers traders inexpensive spreads. The XTB platform provides an excellent starting place for any new account manager, trader, or financial novice.
In this XTB review, we'll go through the exchange's advantages and disadvantages, as well as other aspects, to help you determine if it's the perfect choice for you.
Review: xStation 5 is the trading platform used by XTB. Although the award-winning interface appears to be complex at first sight, once you get used to it, you'll find it to be simple and straightforward to use. You may trade and scalp assets from anywhere in the globe at the push of a button thanks to the more than 4,000 instruments included in xStation 5.
Review: Examine the many asset categories and product kinds after completing the one-step login process outlined above. Once you've identified an asset, use your available money to place a market, limit, stop, or trailing stop order on it. XTB offers a trading calculator that allows you to estimate the optimal commission and margin for your trades ahead of time.
Review: Trading, whether on XTB or elsewhere, has a significant risk of financial loss. With a well-diversified portfolio, you can reduce your exposure to risk. Except for ECN, XTB provides access to all main assets.
Review: For CFD and FX trading in the United Kingdom, XTB UK is approved and regulated by the Financial Conduct Authority (FCA), whereas in Poland, the Polish Financial Supervision Authority (KNF) regulates and supervises the broker. In addition to the United States, XTB is regulated in 11 other countries, including Germany, France, and Chile. Residents of the United States, on the other hand, are unable to open trader accounts on the trading platform.
Currently, XTB is approved and controlled by the following institutions and authorities:
As of 2018, the Cyprus Securities and Exchange Commission (licence number 169/12) is in charge of regulating XTB Europe.
Review: XTB International is regulated by the Belize International Financial Services Commission (licence number IFSC/60/413/TS/19), which is part of the Belize International Financial Services Commission.
Review: It is supervised by the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego), not the Polish Securities and Exchange Commission, which authorises X-Trade Brokers DM SA (licence number DDM-M-4021-57-1/2005), which is supervised by the Polish Securities and Exchange Commission.
The XTB Spain exchange is regulated by the Comisión Nacional del Mercado de Valores (license number 40)
The granting of a licence for XTB South Africa is pending.
Review: Standard, Pro, and Islamic user accounts are all available from XTB, with the latter being the most popular. In addition to having access to more than 1,500 financial products, basic XTB accounts offer leverage of around 500:1. Trading on indices, commodities, and currencies is completely free, and traders do not have to pay commissions on their trades. CFDs and ETF CFDs are charged at a rate of 0.08 percent by XTB.
Review: The Pro account is best suited for traders who are ready to take a high-risk approach to their investments.
Review: A lot of commissions begin at $3.50 EUR (USD 4) per lot, with a minimum deal size of 0.01.
Review: There are no cash equities or cryptocurrencies available to Islamic retail investors who have accounts with $10 commissions and no swap fees.
Review: The negative balance protection offered by each of these accounts is applicable to both CFDs and FX trading. That protection only applies in the event that European retail investor accounts suffer a financial loss. Professionals from non-European countries are not covered by the broker's insurance.
Review: Consider whether or not you understand how CFDs function before making a decision to invest. The use of CFDs with this supplier has an inherent risk. Despite the fact that you may have negative balance protection, the majority of accounts lose money in the long run.
Review: Trading XTB assets is available to you immediately upon the deposit of cash. Fortunately, the procedure is quick and just takes a couple of seconds. Select your trading account from the drop-down menu under the 'Deposits' option, and then examine and confirm your payment method. XTB allows a variety of payment methods, including bank transfers, credit cards, and e-wallets.
Review: Begin by selecting your trading account and the amount of money you wish to remove from your trading account.
Unless your withdrawal is less than $50, you will not be charged a fee for doing so.
You will be charged $30 by the broker in these instances.
Review: Withdrawal processes for XTB International consumers are also different. They can only withdraw funds from accounts in which they are the account holder, though. The transaction will be completed within one business day after they have reviewed and submitted the request.
Review: The XTB spreads vary depending on the account type and the market being traded. Floating spreads are accessible on basic accounts and can fluctuate depending on the amount of available liquidity, whereas market-level spreads are available on Pro accounts for a lower commission. XTB offers competitive spreads in general, so you can count on it.
Review: Fees for forex, indices, and stocks are kept to a minimum at XTB. Investors who make withdrawals in excess of $100 will not be charged by XTB. When comparing XTB to other brokers, stock CFD costs are the only area where they are higher than the industry average.
Review: When a trader doesn't have enough money on hand, he or she might use leverage to enhance their position by borrowing cash from other investors. Investors may take advantage of leverage through margin trading by using brokerage platforms such as XTB, which supply the necessary money for the trades. The maximum leverage available to you will be determined by the regulatory body under which your XTB branch operates.
Review: Brokers are not permitted to surpass a 30:1 leverage in the United Kingdom and Europe. Professional retail investor accounts, which can have access to up to 200:1 leverage, are exempt from the rules of the regulatory agencies. If you utilise XTB in other countries, you might expect leverage of up to 500:1 in some cases.
Review: XTB takes great pleasure in assisting traders in improving their trading abilities by providing the finest possible customer service.
Review: Whatever your needs are, whether it's to open a demo account, find out more about CFD costs or offer feedback, the XTB customer service staff is accessible around the clock, five days a week.
Review: They are located at the following address in the United Kingdom: One Canada Square, Level 34, Canary Wharf, E14 5AA London, United Kingdom You may contact customer service by phone at +48 222 739 976, or you can use the live chat feature on the company's website to communicate.
Review: When selecting a service provider, it is important to evaluate not only their security and validity, but also their educational resources and capabilities. Regardless of your level of experience, the top brokers will take precautions to ensure that you do not lose your investment. XTB offers a variety of materials to help you progress quickly from being a novice to an expert trader, including webinars, videos, and trading courses.
Review: The beginning trading academy provides answers to some of the most often asked questions. It presents an easy-to-follow overview of concepts such as foreign exchange trading, contract for difference trading, market sentiment, and mobile trading, among others. The XTB website also includes comprehensive tutorials on how to use xStation 5 and MT4 so that you can get up and running quickly when you begin trading.
Review: The intermediate courses cover a wide range of assets, including FX, indices, commodities, and cryptocurrencies, as well as more in-depth information regarding xStation 5 and its features. It is anticipated that expert courses will be available in the near future and will give comprehensive study of trading tools, the market review process, and trading circumstances.
Review: Are you prepared to create a trading account? Within less than 24 hours, you may create an XTB profile, link your bank account, and make a deposit of funds. There are no fees for withdrawals, and there is no requirement to make a minimum deposit.
The account opening procedure is comprised of only five easy steps:
Entering your email address as well as your current residence information
The process of entering personal information, such as a person's name, address, and date of birth
Choosing your trading platform, account base currency, and account type are all important decisions.
You will be required to answer questions about your present work, financial health, and trading experience.
Review: In order to activate your trading account, you must first prove your identity and residence.
Review: If you live in Europe, you can get your identity verified through the use of a video. If you are unable to do so, XTB permits you to submit a photo or copy of a government-issued identification card for inspection and consideration. To establish residence, you can use an energy bill or a bank account statement as evidence.
To establish an account now, call +357 257 25356 or start a live chat with a representative.
Review: XTB now works in 12 different countries and is actively expanding. Its website and trading tools are also available in 17 languages, including English, French, Russian, and Arabic, as well as other European languages.
The XTB Group is permitted to operate in the following locations:
The United Kingdom
United Arab Emirates
Qatar, as well as several others.
It is the United States that is the most noteworthy geographic exclusion from XTB's list, since federal restrictions prohibit CFD and FX brokers such as XTB from operating there. The United States is not the only country involved. Canada, Australia, Japan, India, Kenya, Iran, and Ethiopia are among the countries that do not allow XTB trading to take place.
The following are some advantages of XTB:
Review: One of the major stock market-listed foreign exchange and CFD brokers in the world. Regulated by a number of regulatory agencies, including the FCA, the KNF, the CySEC, and the International Financial Services Commission There are two world-class trading platforms from which to pick.
There are more than 1,500 financial products accessible for trading.
The following are negative aspects of XTB:
No binary options trading is available, and traders from the United States are not accepted.
Is XTB the Right Choice for You? If you are looking for a low-cost broker, XTB is a supplier you should consider. XTB provides clients with competitive spreads as well as a diverse selection of investment alternatives. In the event that you are willing to take some risks with your assets, CFDs with this provider might be quite tempting and profitable trading possibilities.
XTB has a long track record of success, as seen by the hundreds of thousands of satisfied customers throughout the world.
Review: Customers of XTB Limited are protected up to £85,000 and clients of X-Trade Brokers are protected up to €20,100 by the following regulatory bodies:
The Financial Conduct Authority (FCA) is a regulatory body that oversees financial institutions (FCA)
Cyprus Securities and Exchange Commission (Cyprus Securities and Exchange Commission)
Komisja Nadzoru Finansowego (Financial Oversight Committee)
Comisión Nacional del Mercado de Valores (National Securities Market Commission)
In the financial services industry, there is a commission called the International Financial Services Commission.
Review: If you're still on the fence, you can always establish a demo account to see how it works for you. It allows you to study the pro account, try the financial instruments, and read user evaluations before committing to the minimum deposit, all without the fear of losing any money.
Review: XTB, a Polish CFD broker, offers access to a wide range of markets, including FX, stocks, indices, commodities, and cryptocurrencies, among others. Known for the high quality of its platform and services, this broker has earned a solid reputation in the industry. According to their website, XTB was founded in 2002 and currently boasts a customer base of over 389,000 people. The firm is publicly traded on the Warsaw Stock Exchange and is governed by two top-tier regulatory bodies, the Cyprus Securities and Exchange Commission and the Financial Conduct Authority.
We found that XTB has one of the best overall results when compared to its competitors in our testing.
Review: Key Takeaways from XTB
For this review, we looked into XTB in nine categories: trust/stability, fees, tradable instruments (including futures and options), account types (including deposit/withdrawal), research, customer support, education, and platform/tools.
Research, education, and platform were among the areas in which XTB excelled, with the latter three categories receiving the most attention.
As a result of its incredibly competitive spreads, this broker is a popular choice among more advanced and busy traders.
For those who are new to trading, the xStation 5 platform will appeal to them because it is both user-friendly and feature-rich.
Withdrawals through bank wire for amounts more than $100 are quick and free.
Quality research is provided by XTB's in-house analysts.
Review: XTB distinguishes itself from the competition by providing a highly well-rounded product. This consists of minimal trading expenses, a comprehensive selection of trading instruments, excellent customer support, competitive spreads, and a strong proprietary trading platform, among other features.
Review: Who is XTB intended for? Active and skilled traders will benefit from XTB's narrow spreads in some instruments as well as its features like as hot keys, 1-click trading, and advanced charting, which are designed to meet their demands. The user-friendly interface, available customer support, and extensive instructional resources make it an appealing broker for both experienced traders and novice traders alike.
Review: In our area of trust, we lay the most emphasis on the manner in which a broker is regulated. So let's get started and look at how the various XTB companies throughout the world are regulated, and how this affects you as a trader in the process. Regulations are rated on a scale of one to three, with one being the highest level of trust.
Review: XTB is a registered trademark of the XTB Group. The following are the many XTB entities that are governed:
The Financial Conduct Authority (FCA) of the United Kingdom has authorised and regulated XTB Limited (UK), which has the company reference number 522157. The Financial Conduct Authority (FCA) is responsible for clients in the United Kingdom. The Financial Conduct Authority of the United Kingdom (FCA) is rated as a Tier 1 regulator.
A licence number of #250/14 has been issued to XTB Limited (CY) by the Cyprus Securities and Exchange Commission (CySEC) indicating that the company is approved and controlled by the CySEC. Clients in the European Economic Area are covered by CySEC (EEA). CySEC is a Tier 1 regulator in our opinion.
The Polish Financial Supervisory Authority (Komisja Nadzoru Finansowego) has authorised and regulated X-Trade Brokers DM SA (KNF). KNF is rated as a Tier 2 regulator by us.
Review: In Belize, XTB International Limited is licenced and regulated by the International Financial Services Commission (IFSC), which has issued License Number 000302/185 to the company.
The International Financial Services Commission (IFSC) is rated as a Tier 3 regulator.
Review: Different levels of protection are provided by different regulatory agencies. For example, XTB clients in the United Kingdom benefit from the supervision of the Financial Conduct Authority (FCA). Clients must have negative balance protection, which means that they cannot lose more than their deposit, according to the Financial Conduct Authority. If a broker goes bankrupt, the monies of clients must be kept separate from other assets to ensure that they are not misappropriated.
Review: Additionally, when trading with a broker who has been approved by the Financial Conduct Authority, customer money are covered by the Financial Services Compensation Scheme (FSCS). If a company goes bankrupt, the Financial Services Compensation Scheme (FSCS) will safeguard up to £85,000 of your investment. A trader who works with a broker firm that is regulated outside of the United States, on the other hand, would not be entitled to these protections.
Review: In addition to elements linked to stability and transparency, we examine them in our assessments for the Trust category. In this case, we looked at how long the broker has been in business, how large the firm is, and how transparent they are in terms of information being easily accessible.
Review: Founded in 2002, XTB has a long and successful history in the forex and CFD markets, and is one of the world's oldest Forex and CFD brokers. According to the company's LinkedIn page, it is also one of the major CFD brokers, employing between 201 and 500 people in various positions. The organisation has offices in more than a dozen countries, including the United Kingdom, Poland, Germany, France, and Chile, among others.
Review: On the Warsaw Stock Exchange, the stock of XTB is traded as a publicly traded business (PL:XTB). As a publicly listed business, XTB is required to release financial reports, which provides investors with a better understanding of the firm's financial health.
Review: XTB demonstrated an appropriate amount of openness in areas such as their regulatory status, fees, and general background information, according to our investigation.
Review: The majority of the information and resources were easily accessible through the website.
Review: Spreads at XTB are variable, which means that they move somewhat from one trade to the next. The magnitude of the spread is determined by the amount of liquidity available in the market. In financial markets, liquidity refers to the extent to which an item may be purchased and sold swiftly and without causing a market movement. Increased liquidity in the market is often accompanied by tighter spreads in the trading environment.
Review: There are no costs associated with deposits, withdrawals, or account closures at XTB. After a year without making a trade and if no deposit has been made in the previous 90 days, you will be charged an inactivity fee of 10 units of your local currency each month until you trade again. This charge is considered to be quite normal in the business.
Review: Overall, we were delighted with the costs at XTB, and notably with the narrow spreads, which are something that traders regard to be of critical importance. The spread is a reflection of the expenses associated with entering and leaving deals. This expense may frequently be the difference between being profitable at the end of the day and being in the red at the end of the day for an active trader. Because of the additional commission, the fees for stock and ETF CFDs were less competitive.
Review: We evaluated XTB's xStation 5 platform, which is accessible through the web, a desktop application, and a mobile application.
Review: The desktop application offers the same features as the web-based version. Clients of XTB also have access to MetaTrader 4, which provides some sophisticated capabilities such as automated trading, to name a few.
Review: A clean appearance and feel, as well as intuitive navigation, distinguish the xStation 5 platform. The layout is completely adjustable, and you may choose from a variety of various choices to fit your trading style.
Review: Watchlists, notifications, 1-click trading, and trading from the chart are just a few of the features included in xStation 5.
Alerts. Price alerts on the xStation 5 can automatically notify you when crucial price levels are reached, so you don't have to spend your whole day staring at a computer screen watching the market.
Watchlists. Traders may create a list of their preferred instruments and track live quotations in a panel called Market Watch, which is accessible from the trading platform.
Review: Trading with a single click. Trading orders may be executed with a single click and without the need for secondary confirmation thanks to this functionality. A transaction may be placed with only one click, which saves time and is especially beneficial for short-term traders who want to make quick decisions.
Trading from the chart is a good idea. It also provides customers with the ease of trading right from the chart in xStation.
Review: MetaTrader also outperforms the competition when it comes to the variety of order types that are accessible. Market, limit, stop loss, and trailing stop orders are among the order types that are available. Adding an expiration date and time to your pending orders is also available.
Review: Market Order is a term that refers to the order of trading in the stock market. This is an order to buy or sell an instrument at the best available price at the time of submission.
Orders are very limited. This is an order to buy or sell an instrument at a predetermined price or a price that is higher than the current market price.
Order to Discontinue Loss. The price of an instrument hits a certain level, which triggers an order to purchase or sell the instrument in question.
Review: Stop Order with a trailing period. An order to place a stop loss at a specified percentage or dollar amount away from the current market price of an instrument is known as a stop loss order. It is used to protect earnings when you are in a profitable transaction and do not want to take the risk of exiting the deal.
The charting capabilities of the xStation platform are excellent.
There are five different types of charts. Candlestick, line, OHLC, HLC, and Heiken ashi are all examples of technical indicators.
There are nine time frames. The time spans range from one minute to one month.
There are 37 indicators. From Alligator to ZigZag, there's something for everyone.
29 Drawing Instruments Classics such as the Fibonacci, Gann, and Pitchfork tools are included in this category.
Review: Investors with varying degrees of trading expertise will find XTB to be an appealing option. A primary attraction was the inexpensive cost of trading main instruments, with the exception of stock and ETF CFDs, which carried an additional charge. Several of the platform's cutting-edge features, such as the heatmap, left a particularly lasting impression on us.
Review: There are other aspects of the business where XTB outperforms the competition, such as the variety of items available. Although this is a weakness, it is perhaps more than compensated for by its strengths in other areas, such as spreads and customer service, as well as research and the user-friendly xStation 5 platform.
Sites like XTB
Here is the list of brokers where Indians can trade Forex, Shares, CFDs, and Cryptocurrencies (Bitcoin, Ethereum):
- Olymp Trade - Facebook, Twitter, YouTube, Twitch, Reddit, Quora and Google Search user activity suggests that this one is gaining a lot of traction
- Quotex - Picking up steam in India in terms of popularity. Also famous in the US.
- OctaFX - OctaFX provides an entry-level, low-cost MetaTrader platform in addition to its social copy-trading platform.
- Binance - Great for investing in cryptocurrencies and is also an exchange platform.
- ExpertOption - Extensive instructional materials are made available by ExpertOption to its customers.
- 5paisa - 5paisa Capital Ltd is a publicly-traded and professionally managed firm.
- Kotak Securities Limited. - They have shown that they are deserving of the title of well-known and well renowned full-service brokerage business.
- RoboForex - Users from a variety of various backgrounds may be guaranteed of a flawless trading experience.
- VantageFX - Vantage completes its MetaTrader platform suite offering with support for numerous social trading platforms.
- Capex - It has swiftly established a reputation for itself by providing an enormous variety of complicated trading tools.
- PocketOption - Pocket Option is one of the most reputable binary options trading platforms.
- ThinkMarkets - Multi-regulated broker that specialises in forex and contract for difference (CFD) trading.
- Trader's Way - Trader's Way forex brand, is approved and controlled by the CySEC (Cyprus Securities and Exchange Commission).
- IQ Option - At the moment, this broker has more than 48 million registered users and processes more than a million transactions per day.
- Karvy - It is one of the most well-known brokerage businesses in India, with its headquarters in Hyderabad.
- Trading212 - It was founded in 2013 and is regulated by the Financial Conduct Authority.
- Markets.com - An excellent choice for traders looking for a comprehensive and dependable online platform.
- Capital.com - A multi-award-winning worldwide investment broker that originated in the United Kingdom.
- Trade.com - A premium brand, it provides a robust infrastructure as well as cutting-edge software.
- Sharekhan - The full-service broker was once affiliated with SSKI and was recently bought by the BNP Paribas Financial Services Group.
- Alpari - One of the world's biggest forex brokerage firms.
- iForex - A well-known forex and CFD broker that provides a wide range of tradable assets
- Exness - Exness a legitimate company in terms of usability.
- FP Markets - An Australian CFD and FX broker founded in 2005.
- IC Markets - A top-tier broker for serious Forex traders, and it is regulated by financial regulators.
- FBS - Its brokerage platform provides access to worldwide markets.
- Hugo's way - Registered in the Seychelles; it's a new player in the social trading arena.
Tweets by XTBUK
Written by Swarna Shrivastav
I'm an investment banker. But I also write for, and fact-check articles published by ForexBrokers.co.in. Full Bio.
Copyright ForexBrokers.co.in. All Rights Reserved.