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Since its foundation in 2002, XTB has built a solid customer base with over a million traders and investors. We researched and evaluated this broker to determine if it deserves your money and attention. Our experience was remarkable, and we discovered numerous aspects that make trading with XTB a good idea.
Below, we’ve discussed what we discovered while exploring and evaluating this company. Use this XTB review to gauge if the XTB trading platform is a fitting choice based on your needs, goals, and preferences.
Our Opinion about XTB
We researched XTB online and read countless reviews on Google Play, Trustpilot, and the App Store. Additionally, our team tested this broker using a live account. Based on our discoveries, we consider the XTB trading platform one of the most outstanding and encourage traders in the UK to check it out.
We’ve also summarised the upsides and drawbacks associated with XTB in the sections below. They should help you decide if signing up with the XTB online trading platform is in your best interests.
Pros
- Licensed and regulated by the FCA and other certified authorities
- Offers users access to over 5,700 financial instruments
- Supports diversification with unique assets like real stocks
- No minimum deposit requirement
- Cost-free deposits and withdrawals above £50
- Reasonable spreads starting from 0.1 pips
Cons
- No third-party software like TradingView and MetaTrader
- Withdrawals below £50 incur transaction fees
- Limited educational tools
Security & Regulations
If you are questioning XTB’s security and safety, rest easy. This broker is one of the most secure today since it’s licensed and authorised by the FCA in the UK (FRN 522157). Additionally, it’s regulated by CySEC (CIF Licence number 169/12) and the BIFSA (FSC License No. 000302/438).
Due to mandates from the FCA and other regulators, the XTB broker keeps money belonging to traders in segregated bank accounts. Therefore, you shouldn’t worry about the company using your funds for day-to-day operations. Additionally, following FCA rules, XTB client funds are protected by the FSCS. If this broker becomes insolvent today, every XTB trader will be eligible for compensation of up to £85,000.
At XTB, the security of your data and assets is paramount. That is why the broker offers the tools and measures you need to optimise security, including fingerprint verification and two-factor authentication. Furthermore, the XTB trading platform uses advanced encryption protocols and invests heavily in state-of-the-art technologies to guarantee the security of your resources and data.
Platforms
The first platform we evaluated was XTB’s official homepage. Fortunately, this broker has a simple, easy-to-navigate site. We love its simplistic yet stylish design and how all crucial elements are grouped into a few select categories like Invest, Education, and Save. That makes things more manageable, especially for newbies.
We also discovered that XTB has 3 types of accounts: Standard, Islamic, and Pro. All you have to do is pick an ideal option based on your needs and preferences. Note that aspects like spreads vary from one account to another, so do some research before making your decision.
Additionally, we analysed the trading platforms on XTB, which include:
- xStation 5: This platform is tailored for traders who don’t want to download additional software to access XTB services. It’s browser-based so you can access it using a browser without a dedicated app. The platform has 3 modules that you can use to access different functions: Chart Window, Market Watch, and Terminal.
- xStation Mobile: XTB allows users to trade on the go with xStation Mobile. It runs seamlessly on IOS and Android gadgets. You can access all financial instruments available on the web-based platform with xStation Mobile, including real shares, cryptos, and ETFs.
Fees & Commissions for UK Traders
XTB is a cost-effective trading platform. We used a live account to assess its fees and commissions. The first applaudable aspect we noticed is setting up an account with this broker is quick and easy. Furthermore, there’s no set XTB minimum deposit requirement, and the platform supports free transactions. When it comes to withdrawals, transactions above £50 are free.
That aside, we noticed various mandates on the XTB UK trading platform during our exploration. For starters, this entity has a £10 minimum order requirement for shares from companies like the Associated British Food PLC. Additionally, it requires users to cover a 0.5% conversion fee while trading with anything besides the base currency.
Not to forget, XTB charges different spreads for different instruments and requires traders who hold open positions to cover swap costs.
Product Offerings
XTB users can access thousands of financial instruments, from 3,000+ shares to countless currency pairs. Most of these are CFDs, meaning you can speculate on their prices without owning the underlying assets.
Here’s an overview of what we found out while exploring the assets offered on this trading platform:
- Stocks: XTB allows users to invest in real, commission-free shares from established companies like Amazon, Tesla, and Netflix. You can use one XTB account to access shares from over 16 major global exchanges. If you don’t plan on becoming a shareholder, you can trade stock CFDs on XTB and profit from speculation.
- ETFs: This broker offers over 300 ETFs from around the globe. The best part is that it allows users to invest in real ETFs without being subjected to commissions. Investors can rake in monthly turnovers of up to £100,000 from buying and selling ETFs without worrying about additional fees undermining profitability. Additionally, the XTB trading platform allows users to trade ETF CFDs.
- Forex: XTB gives users access to 48+ currency pairs, including GPB/USD, USD/CAD, and EUR/GBP. These instruments come with tight spreads starting from 0.1 pips for popular pairs. Moreover, this broker supports FX micro lot trading, making it ideal for beginners and low-budget forex traders.
- Indices: With an XTB account, you can access indices from China, Germany, the US, and other regions. Standard options range from UK100 and US30 to FRA40 and EU50. You can also maximise profitability with flexible leverages of up to 20:1 and transparent rollovers.
- Commodities: A wide variety of commodities is available on XTB, including gold, oil, and corn. You can trade CFDs on these instruments 24 hours a day from your PC, smartphone, or tablet.
XTB Support Service
If you have a concern or need help with anything, we encourage you to visit XTB’s help centre. There, you will find articles spanning numerous crucial topics, like how to invest in real shares and the basics of XTB’s welcome bonus program. Search for your answers on this page before reaching out to support.
If your issue hasn’t been addressed by one of XTB’s articles or you prefer speaking with the broker’s representatives, use one of the supported channels. The XTB support team is available 24/5. You can contact its technician via live chat or phone. We highly recommend these options for urgent issues. Otherwise, if you don’t prompt assistance, consider emailing XTB. Lastly, you can get answers to general questions from XTB’s AI Agent via chat.
How to Sign up For an Account at XTB
Some brokers have complicated registration processes. That is why many traders, beginners and pros alike, dread the idea of setting up a new trading account. Luckily, this scenario doesn’t apply to XTB UK. This platform has made things hassle-free and straightforward. We set up our live account without any hassles and started trading within the hour.
You, too, can open a new XTB account seamlessly by following this simple guide:
You need to visit XTB’s official site to conduct a proper assessment and begin the account set-up process. While you’re on the broker’s homepage, do some exploring. Visit the incorporated tabs, including Invest and Save, and check what’s offered there. Additionally, if you’re a beginner, visit the Education section to increase your knowledge base and then test yourself with a demo account.
Click “Create account” when you’re ready to register. First, the broker will ask you to provide your email address and specify your country of origin. Then, you’ll be required to set a strong password for account protection and share indispensable details like your full name and date of birth. Provide accurate and valid info because your account won’t be approved without them.
Regulated UK brokers like XTB ask for identity verification documents like a national ID. They also request new applications to share proof of address documentation, like a recent utility bill. Provide clear and valid documents to avoid premature rejection or expose your account to suspension or termination in the future.
The XTB team approves legit applications quickly. So, your account should be ready within a short time. Once it happens, use a supported payment method like a debit card or PayPal to send money to your trading account. Since this broker has no minimum deposit, we encourage you to start with a small capital to test the platform first, especially if you’re a novice trader.
Wait for money to reflect in your XTB account, then choose a financial instrument and start trading. You can also mitigate your risk exposure by investing in real stocks and other assets. Not to forget, XTB offers stop-loss and take-profit orders. Use these tools to protect your capital from crippling losses and increase your profit potential.
Conclusion
FCA-licensed XTB deserves to be categorised as one of the best brokers in the UK. But trading with it won’t make you immune to financial losses. Online trading is incredibly risky, and you should approach it with caution.
If you are a beginner, don’t open a live account before mastering the basics and testing yourself in risk-free demo mode. Also, gather more insights from other sources besides our XTB broker review. You can start by requesting the input of seasoned traders in reputable online communities.