XTB Review 2024: Pros & Cons

XTB, a reputable multi-asset broker, stands out for its exceptional customer service, diverse forex and CFD offerings, and an overall outstanding trading experience. With a user-friendly xStation 5 trading platform that is both well-designed and feature-rich, XTB provides traders with innovative tools for a seamless trading journey. Boasting a comprehensive educational platform and top-notch research, XTB secured the Best in Class for Research in 2024.

This European-based broker, catering to a global clientele, offers access to over 2,000 assets for speculative trading.

Known for its nearly 20-year presence in the financial market, XTB, based in Poland and listed on the Warsaw Stock Exchange, is making a notable impact among UK retail investors with its straightforward account opening process and beginner-friendly interface.

Investment Accounts

• XTB currently provides a general investment account (GIA) with no tax-efficient features.
• Investors can freely invest any amount, but gains may be subject to taxation.
• Users can earn interest on uninvested cash balances in their XTB account.
  • Portfolio worth less than £30,000:
    • 2.5% interest on GBP
    • 2% interest on EUR
    • 2.5% interest on USD
  • Portfolio over £30,000:
    • 4.9% interest on GBP
    • 3.8% interest on EUR
    • 5% interest on USD

Real Stocks:

• XTB offers the opportunity to invest in 'real' stocks and ETFs, owning the assets directly.
• Over 3,000 investments available.
• Cost-effective for long-term investors with no fees for holding or initial purchases.
• No fees unless trading over €100,000 per month, then 0.2% fee (€10 minimum).

CFD Trading:

• XTB is a popular platform for trading Contract For Differences (CFDs).
• CFDs allow traders to speculate on price movements without owning the assets.
• Benefits include trading both 'long' and 'short' positions and leverage trading.
• Over 1,850 stocks available for CFD trading.

Earn Interest on Uninvested Cash:

• XTB offers competitive interest rates upto 4.9% on uninvested cash balances.
• Passive way to generate income automatically when not actively trading.
• Rates can vary, check XTB website for the latest updates.

Diverse Trading Instruments:

• Forex Trading: 48 currency pairs with low spreads and leverage up to 1:30 (EU) and 1:500 (Global).
• Stock Trading: Hundreds of stock CFDs with zero commissions and a $10 minimum investment.
• CFD Trading: 2100 CFDs available across forex, indices, commodities, cryptos, stocks, and ETFs.

• Crypto Trading: 46 crypto markets with competitive spreads, leverage up to 1:5, and 24/7 trading.

• XTB caters to diverse investors with traditional and dynamic trading options.

• User-friendly interface suitable for both beginners and experienced traders.
• Comprehensive selection of trading instruments, including forex, stocks, CFDs, and cryptocurrencies.

XTB Fees Overview

• Account Fees:
  • No fees for opening, depositing, or holding an account.
• Trading Fees:
  • No commission for buying or selling stocks.
  • Minimum trade transaction of £10.
• Real Stocks:
  • No commission for trades under €100,000 per month.
  • Above €100,000, a 0.2% fee per trade with a minimum of €10.
• Spread Fees (CFDs):
  • Variable spread fees depending on the asset and market conditions.
  • Spread fees for stocks and ETFs are generally low (0.30%).
• Currency Conversion Fee:
  • 0.5% fee for trading assets in a different currency.
• Overnight Fees (Leverage):
  • Swap fee for keeping margin positions open overnight.
  • Rates vary based on the traded asset and may result in either a cost or payment to the trader.
• Interest on Uninvested Cash:
  • Competitive interest rates on uninvested cash balances.
  • Rates vary, check the XTB website for the latest information.
• Active Trader Discounts:
  • Rebates for active traders through the XTB's Lower Spread Group program.
  • Rebates range from 5% to 30% based on monthly trade volume.
• Withdrawal/Deposit Fees:
  • No fees for withdrawals or deposits (2% fee for Skrill).
• Inactivity Fee:
  • No inactivity fee.

XTB offers a transparent fee structure, making it cost-effective for traders. While there are no account-related fees, traders should be mindful of spread fees, currency conversion fees, and potential overnight fees for leveraged positions. Active traders can benefit from discounts, and the platform is known for its competitive pricing in the industry.

XTB Safety and Regulation Overview

• Regulatory Compliance: XTB is authorized and regulated by the UK Financial Conduct Authority (FCA) . It is also regulated by Tier 1 financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Polish Financial Supervision Authority (KNF), and the International Financial Services Commission (IFSC).
• Client Fund Protection: Client funds are held in segregated accounts, ensuring separation from XTB's own funds. XTB adheres to the Financial Services Compensation Scheme (FSCS) Agreement, providing protection up to £85,000 per person in the event of insolvency.
• Security Measures: XTB prioritizes trader security with biometric login and two-factor authentication (2FA). The platform employs SSL encryption for data security.
• Financial Transparency: XTB is a public company, listed on the stock exchange in Poland. Public listing ensures strict adherence to business management and financial transparency.
• Overall Safety Rating: XTB is considered safe, being one of the largest trading platforms globally, authorized by the FCA, and providing multiple layers of protection for clients' funds.

XTB's commitment to regulatory compliance, client fund protection, advanced security measures, and financial transparency makes it a safe and trustworthy platform for traders. The regulatory oversight by reputable authorities further adds to the platform's credibility.

XTB Platform and Trading Advantages

• Direct Asset Purchase: XTB allows users to buy assets directly, offering a straightforward investment approach.
• Low Trading Fees: The platform features low trading fees, making it cost-effective for users.
• Advanced Trading Software: XTB's xStation platform suite is praised for its excellent usability and a robust selection of trading tools and features.
• Diverse Investment Options: XTB provides a good range of investment options, catering to various preferences and strategies.
• Multi-Device Accessibility: The platform is accessible on desktop, tablet, and mobile devices, providing flexibility for traders.
• Personal Account Manager and Support: Users benefit from a personal account manager and 24/5 customer support for assistance.
• Demo Account: XTB offers a demo account, allowing users to practice and familiarize themselves with the platform before engaging in real trading.
• Educational Resources: XTB offers an extensive variety of educational resources, including videos, written content, and lessons via its Trading Academy.
• Zero-Dollar Commissions: Recently launched zero-dollar commissions for share CFDs, enhancing cost-effectiveness for day traders and stock investors.
• Regulatory Compliance: XTB is regulated by reputable authorities, including the FCA, KNF, CySEC, and IFSC, ensuring a secure trading environment.
• Established Track Record: With over 20 years in operation, XTB has established itself as a reliable broker in the industry.
• Investment Plans and Cashback Rebates: XTB introduces Investment Plans, providing passive investing opportunities, and offers cashback rebates for high-volume traders (over 15 lots per month).
• Same-Day Withdrawals and Interest: XTB provides same-day withdrawals if requested before 1 pm, and the UK branch offers interest up to 5% on uninvested balances.

XTB Limitations and Drawbacks

• Limited Platform Options: XTB's reliance on a single platform may be seen as limiting, especially when compared to competitors offering multiple terminals, potentially limiting customization and features.
• Absence of Third-Party Research Tools: XTB lacks third-party research tools like AutoChartist or Trading Central, which are commonly provided by many competitors, potentially affecting the depth of market analysis available to users.
• Withdrawal Fees for Small Amounts: Withdrawals below $50 at the international entity incur a $30 fee, potentially impacting users making smaller withdrawals.
• No Crypto Trading in the UK: XTB does not offer cryptocurrency trading in the UK, which may be a limitation for users interested in diversifying their portfolio with digital assets.
• Limited Additional Features: XTB's platform may lack some additional features or tools offered by other brokers, potentially influencing users seeking a more comprehensive trading experience.

XTB Customer Reviews Overview

• Trustpilot Rating: XTB holds a Trustpilot rating of 4 out of 5, considered "great," based on approximately 926 reviews. This positive score reflects customer satisfaction in the financial services industry, where lower ratings are common.
• Customer Feedback Highlights: Numerous 5-star reviews emphasize the excellent trading platform and low fees offered by XTB. Conversely, some 1-star reviews primarily concern challenges related to account opening, often attributed to issues with European documents.
• Multilingual Customer Support: XTB is praised for its customer support services, offering assistance in over 15 languages, including Arabic, Portuguese, Romanian, French, and Thai. The support team is available 24/5 through various channels, including live chat, phone, and email.
• Finder User Reviews: In reviews provided to Finder, XTB achieves an impressive score of 4.7 out of 5. Positive feedback highlights the new UK investment app's performance and features.
• Dedicated Account Managers: XTB enhances customer support by assigning account managers to clients, providing personalized assistance with account-related matters.

Overall, XTB receives favorable reviews for its trading platform, low fees, and comprehensive customer support, contributing to its positive reputation among users.

Final Thoughts on XTB

We have a strong endorsement for XTB, considering it an excellent broker with standout features. The xStation 5 trading platform, a highlight of XTB's offering, stands out as one of the best in the market. Its user-friendly interface, real-time updates, and versatility across various devices contribute to a seamless trading experience. The ability to trade with leverage across all assets adds to the platform's appeal.

Low fees are a key advantage of XTB, positioning it as one of the most cost-effective options in the market. With no account fees or commissions and transparent fee structures integrated into the spread, XTB provides a budget-friendly solution.

Furthermore, XTB's commitment to customer service is evident through its multilingual support team, available 24/5 through various channels. The inclusion of dedicated account managers enhances the overall customer support experience.

In terms of research and educational resources, XTB excels. Its xStation 5 platform, coupled with extensive educational materials, positions XTB as a broker suitable for both beginners and seasoned traders. The platform's balance of analytical tools and order customization caters to diverse trading strategies.

While pricing is deemed average, XTB compensates with a comprehensive offering, making it an attractive choice for traders seeking to navigate the forex and CFD markets in 2024. Regulatory approval across major jurisdictions adds credibility to XTB's reputation, making it a recommended brokerage for retail traders exploring global markets. Overall, XTB stands out as a well-rounded platform that caters to a broad spectrum of trader needs. With its impressive array of services, XTB proves to be a credible and reliable option in the competitive landscape of online brokers.