XTB Review

XTB was first started as X-Trade in 2002, but underwent a name change to X-Trade Brokers (XTB) in 2004 to conform to new legal regulations in Poland, where the brand was first started. It later rebranded into XTB Online Trading in 2009. Since then, the company has spread into nearly every continent with its forex/CFD brokerage offering.

I. Background and Company Overview of XTB

XTB operates a decentralized brokerage system which serves its clients in different locations with customer-centric services.The brand has also won several awards, dating back to 2005 when it was voted the Best Broker in Europe by Money Markets Journal.

XTB also has an institutional trading hub known as X Open Hub, and launched the first version of its proprietary xStation platform, the xStation 3, in 2013. 2016 saw the launch of the current version, xStation 5, and 2017 brought with it the first expansion beyond EU borders.

With a current client base that exceeds 450,000 accounts, surely there must be something about XTB that excites retail clients. Some of these are as follows:

• XTB's traders are given access to more than 2,200 markets across 8 different asset classes.
• There is a proprietary trading platform for those who want a change from the MT4.
• A full economic news calendar is presented.

II. Trading Platforms and Tools

The trading platform used on XTB is the xStation. xStation is a proprietary trading platform which presents more than 2,200 CFD assets and comes with state-of-the-art analytical tools. The software comes as a desktop client, a web application and mobile apps. The webtrader is fully compatible with the common browsers in use today.

Most of the trading tools you will get access to are tied to the xStation5 platform. Some of these tools are:

• A wide range of indicators and graphical objects including shapes, trendlines, channels, and 34 indicators.
• Toolbar customisation allows you to set the interface and tools according to your preferences.
• A harmonic tool has been added, allowing the trader to spot and trade ABCDE patterns. This tool is not found on MetaTrader.

III. Account Types and Spreads

There are two account formats on XTB. They can be regarded as mirror images of each other, with the only difference being that one is a swap-free version of the other.

1. Standard
2. Swap-free

The Standard account features more than 2200 assets to trade, spread across FX pairs, commodities, indices, stocks CFDs, ETF CFDs and cryptos. The minimum spread is 0.5 pips, and the account is commission-free.

The Swap free account has minimum spreads of 0.7 pips and has the same specifications of the Standard account, but comes swap-free. There are no charges for overnight trades.

IV. Contract Specifications

What contract specifications will traders on the XTB platforms encounter?

• Maximum leverage is set to 1:500, but the leverage is dynamic and can be reduced.
• Minimum trade size is 0.01 lots, with increments of 0.01 lots.
• All stocks traded are CFD assets. No cash stocks are available.
• All traders' funds are segregated.
• Spreads on crypto assets are charged as a percentage of the investment size, usually between 2% and 3% of the market. Litecoin is charged at 0.45% and 0.75%.
• All transactions are executed as market orders.

V. Security and Regulation

The XTB brand is run by several subsidiaries operating under the umbrella of the XTB Group.

The international operations of XTB are managed by XTB International Limited, authorized and regulated by the Financial Services Commission of Belize with FSC license number 000302/438.

In the UK, the brand is operated by XTB Limited, authorized and regulated by the Financial Conduct Authority (FCA) with FRN 522157.

In Europe, XTB has several entities. In Cyprus, XTB Limited is authorized and regulated by the Cyprus Securities and Exchange Commission with license number 169/12. In Spain, the brand is managed by XTB Sucursal, and is authorized by the

Comisión Nacional del Mercado de Valores in Spain. XTB S.A. is authorised and regulated by the Komisja Nadzoru Finansowego (KNF) in Poland.

For the MENA region, XTB also has an office operating in Dubai for which a license has been obtained from the Dubai Financial Services Authority.

Residents of Brazil are prohibited from operating accounts on XTB. Residents of the UK and EEA are onboarded via the entities operational in those jurisdictions.

VI. Customer Support and Education

Customer support on XTB is reachable via the following means:

• Phone: +357 257 25356 (Cyprus); +48 222 739 976
• Email: sales_int@xtb.com
• Live chat

Conclusion

Do you want to trade a diversified asset base using a platform that is different from the MT4? Then XTB should be a major consideration for you as a broker of choice.