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Gerard Moore 22 / April / 21

XTB is one of the largest FX & CFD exchange brokers reviews


XTB one of the largest FX & CFD exchange brokers
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With over 14 years of experience, XTB is one of the largest FX & CFD exchange brokers. Currently, the company is represented in most European countries, as well as China, India, CIS countries. The broker works under the supervision of several regulators at once.

XTB review

The company's website has been translated into 18 languages, but there is no Russian language in the list. Despite this, the information is presented in an accessible way, and the interface of the site is pleasant. A block of educational materials of good quality is presented, as well as a news and market analysis section (access to most materials appears only after opening an account with the company).

Trading conditions

The broker provides the ability to trade currency pairs, commodities, stocks, indices, bonds, CFDs and cryptocurrencies. Depending on the size of the deposit and the traded volume, the broker offers different levels of access to educational and research materials. VIP gives full access to all materials, traders' club, and also provides a personal manager. You can choose between Standard, PRO and Islamic accounts with market execution. XTB provides negative balance protection on all account types, which will prevent you from losing more than your initial investment. The maximum leverage is 1: 200. Spreads start at 0.28 pips and can fluctuate significantly depending on market conditions. Commission for 1 lot will be $ 4. Active traders can count on cashback from their trades.

Registration

LC registration will take about 5 minutes. Enter your email, phone number and personal data, then select the account type and trading platform. To activate your account, you will need to upload scans of documents confirming your identity and address.

Trading interface

For trading, clients are provided with MT4 and xStation 5 trading platforms available in desktop or mobile versions. I liked xStation 5 for its functionality and ease of use. The platform launches quickly and, in our experience, shows fast execution of trades. Screening tools, heat maps, mood indicators, and a built-in economic calendar are helpful. However, there are also disadvantages - the inability to use algorithmic trading, back testing or custom indicators. To do this, you need to choose MT4.

Safety

XTB International Limited is a Belize based company regulated by IFSC (license number IFSC / 60/413 / TS / 16). In addition, the XTB Group, which includes several companies operating under the XTB brand, is regulated by the Polish KNF, the British FSA and the Spanish CNMV. Customer funds are held in segregated accounts. PC security depends on the complexity of the password.

Deposit and withdrawal of funds
Bank transfers, payment cards, Skrill, SafetyPay, Paysafe are used to deposit / withdraw funds. When choosing a payment system, pay attention to the commission, as well as the time when funds are credited. For withdrawals of less than $ 100, a commission of $ 30 is charged.

Support service

To promptly resolve important issues on the site around the clock, support specialists work 24/5. You can contact support via mail, phone or the form on the website, as well as via chat in the trading platform. Unfortunately, there are no Russian-speaking employees in the company yet, but you can communicate using the translator built into the chat. To check the work of the support service, we submitted a request for consultation via mail. The answer was received only a day later, which is not very prompt.

Conclusion

XTB provides a decent set of tools, quality training materials, and is regulated by several regulatory bodies. However, we did not find any serious advantages of this broker. Trading conditions are generally average or above the market average. There are also complaints on the network about hidden costs, so we recommend that you carefully study the information not only on the company's website, but also in the documents accompanying the registration.

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Comments 1

user_avatarBenjamin 13.03.2019

I have rated XTB a while ago. I must say that the Customer Service is far from good. On the slightest of issues they will put your account to 'Close Mode only', although the matter could have been solved in a better way. Subsidiaries will differ in the terms of business and some will not allow payment other than from you even if you asked for confirmation before (though they won't block such payments ironically, a case for FCA review?). Also be wary of refreshment to your client file, they will require on every new information a notorized copy of id. As if these went for free. You won't get refered to a compliance officer sadly, rather they round-robin their stadd for you in a single email conversation. This is rather confusing and poor.