Are you in the market for a new trading brokerage that offers stocks, CFDs, cryptos, and Forex? XTB is an award-winning online platform used by over 1 million investors worldwide. You must ensure it is legitimate before you add your hard-earned money to a new brokerage platform. This XTB review article will discuss what you can trade, the commission fees, the XTB platform, and more!
XTB Review of the Platform
XTB was established in 2002 in Warsaw, Poland, where the company still resides. The company operates dozens of global offices in countries like the UK, Germany, France, and Chile.
As of 2024, XTB has more than 1 million users worldwide and offers its platform in most countries. It was named one of Europe’s 1,000 fastest-growing companies in 2024 by the Financial Times. Unfortunately, as of 2024, XTB is not approved for US customers.
The company is well-known across Europe, particularly for its famous brand ambassadors. On any given XTB advertisement, you can see global figures like former UFC star Conor McGregor, football manager Jose Mourinho, and UFC Champion Joanna Jedrzejczyk. XTB is also an official sponsor of the McLaren Mercedes F1 racing team.
In 2007, XTB went public and still trades on the Warsaw Stock Exchange in Poland. The company has a market capitalization of over $2 billion and trades under the WSE: XTB ticker.
In 2024, Brokerwahl named XTB the Best CFD Broker. And in 2023, FXScouts named XTB the Best Forex Broker Proprietary Platform. Hence, this XTB review.
Is XTB Regulated?
Yes, XTB is a fully-regulated trading platform by multiple different regulatory bodies. Unfortunately, XTB has not been approved by the US Commodity Futures Trading Commission (CFTC) or the US Securities and Exchange Commission (SEC). XTB will not be accepting US-based customers in 2024.
XTB is regulated by multiple different authorities in Europe. These include the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission, and the International Financial Services Commission in Belize. XTB has also been regulated by the Dubai Financial Services Authority in the United Arab Emirates since 2021. Let’s continue with our XTB review.
What is CFD Trading?
For North American investors, CFD investing is not typically offered by most brokerages. CFD, or Contract For Differences, is an advanced trading style with a high risk. This risk is why some regulatory bodies, like the CFTC and SEC in the United States, have not approved it.
CFDs are agreements between the trader and the brokerage that speculate on the underlying price of an asset. A leveraged derivative allows you to trade an asset and bet on its underlying movement, long or short. Like European-style options, CFDs are cash-settled, meaning no asset shares are traded.
These derivatives expose you to large trades with just a small initial investment. As a result, you will also need a margin account to trade CFDs. The gains and losses can be magnified since CFDs are leveraged trades.
Unlike options, CFDs do not have a strike price or expiration date. Instead, traders are betting on the direction of the price, and the profit or loss is the difference between the starting price and the closing price.
What Can I Trade on XTB?
XTB offers plenty of options for traders, depending on where they are. Certain regulatory bodies do not allow trading some derivatives or leveraged products.
Most XTB users can access CFDs for stocks, ETFs, Forex, commodities, and even cryptocurrencies. On top of these CFDs, you will have access to spot trading for stocks, ETFs, and Forex.
Choose from over 2,800 stocks from global exchanges and 300 ETFs on XTB. The platform offers 24/5 commodity and Forex trading with 48 currency pairs and leveraged trading up to 500:1.
New to XTB are cryptocurrency CFDs for 41 tokens, including Bitcoin, Ethereum, and Solana. Our XTB review found no spot crypto trading on XTB as of June 2024.
XTB Review of Commission Fees
One of the most important factors in choosing a brokerage platform is the commission fees for trading. High fees can eat into your profits and deplete your gains over the long term. Luckily, XTB charges minimal fees for trading any of its instruments.
Fees for spot stocks and ETFs are 0% commission, which means you do not have to pay for making trades. You do pay a fee for the spread, which is the difference between the Bid and Ask price of the asset. The actual fees can vary depending on the country in which you reside. An XTB review has broken down fees between users in the United Kingdom, European Union, and International users.
XTB does not charge fees for opening a new account or depositing funds. Withdrawals are free if the amount is over $50.00-$200.00, depending on where you live. Certain deposit or withdrawal methods may come with fees that XTB does not charge.
XTB Interest-Earning Savings Account
On top of being a top-rated brokerage and Forex platform, XTB also allows users to earn interest on uninvested funds. These are the current interest rates as per XTB’s website as of June 2024:
| Currency | Over $30,000 | Under $30,000 |
| GBP | 5.2% | 5.2% |
| EUR | 3.8% | 3.8% |
| USD | 5.0% | 5.0% |
These rates are subject to change at any time in this XTB review.
XTB Platform: xStation5
XTB has a proprietary trading platform software called xStation5. We opened a Demo Account with XTB to try it out, and here’s what we thought.
The platform itself is easy to use and intuitive. It’s not lightyears ahead of other brokerages, but it is versatile, with strong charting capabilities and one-click trading. You can easily toggle through your watchlist, trending and hot stocks or assets, and see any outstanding trades at the bottom in your Open Positions.
Charting is especially impressive on the xStation5 platform. It offers a full spectrum of technical analysis indicators and tools and allows you to trade directly from the chart. Like most other brokerages, this simplifies day trading rather than toggling through different screens.
xStation5 allows you to look at multiple charts on a single screen and offers nine different timeframes. The platform offers standard trades like market, limit, and stop-loss orders. Finally, you can get notified with price alerts directly within the application, which can help you monitor multiple assets simultaneously.
Overall, the xStation5 is an excellent trading software that both beginners and advanced traders can use. While there is a bit of a learning curve, the software is intuitive enough that just a few days of trading will help you pick things up.
XTB Review of Mobile Trading
XTB also offers a mobile trading app for Android and iOS operating systems. The app comes in 24 languages and is free to download and install.
Like the desktop platform, the XTB mobile app is robust and well-designed. It offers full trading capabilities in the palm of your hand, directly integrating with your XTB trading account. Charting can be difficult, but that’s no different from any other charting or trading mobile app.
Overall, XTB’s mobile app is an excellent example of how advanced trading software is in 2024. Trade from anywhere with XTB on one of the most sophisticated platforms in the world.
XTB Customer Support
XTB offers users plenty of around-the-clock customer support like any good brokerage platform. For users everywhere, an XTB email address can be contacted for support or help questions.
XTB also offers 24/5 chat support by phone and a 24/7 AI chatbot on its website. There is also an excellent Help Center with articles and FAQ forums for users worldwide.
XTB Educational Resources
XTB offers plenty of learning resources for traders. The platform offers a comprehensive knowledge base of Educational Articles on everything from CFD trading to technical analysis.
The platform also excels in offering up-to-the-minute Market News and resources. Plenty of breaking news articles and daily recaps allow users to stay on the market 24 hours a day.
Finally, with the xStation5 software, users can access various resources, including news, calendar, market analysis, and education, for any asset they have open.
Final Thoughts: XTB Review
After reviewing XTB and trying out a Demo Account with the xStation5, we can say that all awards and accolades are well-deserved. This top-notch CFD and spot trading software offers everything for both beginner and advanced traders.
The fees are competitive, the software is well-designed and intuitive, and the support and educational materials are second to none. We were even impressed by the mobile trading app, which you cannot say for every brokerage.
Overall, we loved the versatility of the xStation5 software and were amazed by its superior charting capabilities. As an educational investing community, we were also impressed by the resources XTB offers. News, analysis, and educational articles are excellent resources that help users become better, more knowledgeable traders.
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Frequently Asked Questions
XTB Is both legit and reliable. The company has been in business for over 20 years and has over 1 million global customers. XTB is also a publicly traded company on the Warsaw Stock Exchange and is regulated by multiple regulatory bodies.
XTB is an excellent trading software suitable for both beginner and advanced traders. Overall, XTB’s xStation5 software targets more advanced trading strategies and has a learning curve that new traders might find overwhelming initially.
Unfortunately, as of June 2024, XTB is not available for users in the United States. The SEC and CFTC do not allow CFD trading in the United States. It is a risky trading strategy that incorporates margin and leverage trading.
Absolutely. The xStation5 software offers plenty of advantages for day traders. These include watching multiple charts on one screen, one-click trading, and trading directly from the chart.
