XTB Opinions – Is XTB a reliable broker?

The opinions and comments that can be seen in Internet forums and communities have become a good instrument to value any product or service. The world of online trading is no stranger to this.

One of the most important factors when trading is choosing a reliable broker that offers good service and where our money is safe. In this article, we will analyze in-depth the opinions of clients of the broker XTB, one of the main Forex and CFD brokers worldwide.

All the data you can see in this article is based on our own experience and the collection of positive and negative opinions of XTB users that we have found in various investment forums, blogs, and specialized websites.

What is XTB?

X-trade Brokers DM, better known as XTB, is an online broker with which you can invest in a multitude of different financial instruments: more than 50 currency pairs, commodities, CFDs on stocks, indexes, cryptocurrencies and more. Recently it has also expanded its product offering and allows its customers to purchase shares and cash ETFs (physical purchase), although this service is only available to customers in Europe.

You can get more information about the Forex and CFD broker XTB and its brokerage services in the following guide about this broker: Review of XTB

XTB started its activity in 2002. The truth is that after its creation, XTB has established itself in the online financial brokerage sector as one of the strongest Forex and CFD brokers, with offices in more than 14 countries and is regulated by some of the most demanding international organizations.

Despite being a broker of Polish origin, it has a branch in the UK with all the relevant guarantees in terms of safety and reliability based on the European regulations to which it is subject. But the really remarkable thing about XTB is its support and attention to the beginner trader.

XTB offers several trading platforms such as its powerful xStation 5 and also the popular Metatrader 4. The spreads (differential between the Bid price and Ask price) that it charges are quite low (from 0.9 pips for Standard accounts and from 0.28 pips for Pro accounts with commission per lot traded).

We will see below the opinions of users about XTB grouped into several categories:

Opinions about XTB trading platforms

– To trade through a desktop computer, the XTB broker offers two platforms: Metatrader 4 and xStation.

Metatrader 4

This platform is widely known and esteemed by the vast majority of Forex traders. In fact, it can be considered the main trading platform existing today worldwide.

Created by the company MetaQuotes Software Corp. (it is not own or exclusive to XTB, it is also offered by other online brokers). Its ease of use, its versatility, its multiple market analysis tools and the fact that it is highly customizable are the main ingredients of its success.

This platform allows the simple application of algorithmic trading through Expert Advisors (automated trading systems, more commonly known as “trading robots”).

We can trade with Metatrader 4 in a totally online way from a web server, or we have the option to download it to our computer.

The opinions on MetaTrader 4 that can be found in all types of forums and websites specialized in trading are mostly positive and it is a platform considered as versatile for both beginner traders and those with more experience.

xStation 5

Unlike MT4, this application is a proprietary platform of XTB and the truth is that looking at the experiences and opinions of users found in portals such as Trustpilot (which we show in the following image), it is a trading tool that enjoys a great recognition among its users:

xStation was awarded as the best trading platform 2016 by “Online Personal Wealth Awards” for combining power, simplicity, usability and attractive interface.

At present, it is a platform that can be used for both beginner traders and those more experienced (simple and complete at the same time).

Like MetaTrader, the XTB xStation 5 platform is available to trade as a web-based platform (no download or installation is required) or if the user prefers it (for reasons of adaptability, customization or simply as a preference) it can be downloaded to the computer equipment.

xStation is one of the fastest existing platforms, which makes it a good tool for short-term trading (for example, scalping). For the rest, the opinions of the users speak for themselves, we cannot add much more about it.

– To trade through a mobile device (smartphones, tablets, …), the XTB broker also offers us a specific version of the platforms discussed above: Metatrader 4 and xStation.

These applications are designed in a similar way to the desktop platform itself but adapted to these types of devices. In this case, it requires downloading and installation on the device. It is available for both terminals that use the Android operating system like iOS.

The opinions found in Google Play and the Apple App Store especially on the xStation platform are quite positive, pointing out that it is one of the most complete trading apps today.

Opinions about XTB services

– Available trading instruments:

The offer of financial instruments to trade with the broker XTB is wide and more than enough for most users. There are more than 3,000 assets available:

• 49 currency pairs (Forex market)
• More than 20 stock indices, including the most important
• The main commodities (gold, silver, oil, etc.)
• CFDs on cryptocurrencies
• CFDs on stocks
• CFDs on ETFs

In this case, XTB offers a wide range of markets according to the requirements of an industry broker. We can say that there are options for traders from all markets

Another issue is that there was a problem with one of the available instruments, more specifically with cryptocurrencies:

– Trading accounts:

There are two types of real accounts that customers can open in XTB, in addition to the demo account:

Standard Account

It is an account for all types of traders. The spreads of the XTB Standard account are floating, that is, they are different depending on the moment and the liquidity conditions that exist in the market.

The most liquid markets have a lower spread, therefore, the EUR/USD (the most liquid currency pair existing) is taken as a reference to compare and get an idea of what the commissions can be. In this case, the minimum spread is 0.8 pips for that currency pair.

Pro Account

This account is designed for trading professionals, as evidenced by the initial capital required to open this type of account (15000  euros).

Now, the conditions of the spreads are better than the Standard account. The spreads are still floating, however, for the EUR/USD the spreads are as low as 0.28 pips (under normal conditions). Remember that we talk about the minimum spread. The difference in spreads between the two accounts is compensated (for the broker) with a fixed commission to trade Forex, Indices, and Commodities (from €3.50 per lot). Normally, when trading with this account and with this minimum capital, the logical thing is that the client opens positions with large volumes. That is why it is more profitable for XTB to charge a commission for each trade in the Pro accounts, the amount of which depends on the transaction volume. In other words, the Pro Account is profitable for the trader who trades with large amounts.

Demo Account

XTB offers a demo account, which however has a limited duration of only 30 days. This account has a $ 20,000 virtual balance that can be used by the trader to practice their trading strategies and evaluate the services of the broker.

In this account type, we can thoroughly test the XTB platform and check the opinions of the users that we have shown previously. In addition, trading with a demo account helps you to increase your knowledge and prepare to trade with real money.

Trader experiences are not bad when trading with any of the XTB accounts, based on the opinions we find.

– Customer Support:

The XTB broker is characterized by offering quality customer service. This is one of its biggest competitive advantages.

They offer qualified attention and support with teams nationwide, as demonstrated by the branch in the UK. This in itself is an extra guarantee by offering attention in several languages besides English.

It offers its support service through different channels such as email, telephone, and live online chat. In this way, the trader can be in continuous contact with XTB, 24 hours from Monday to Friday.

Almost all the opinions found about the experience with XTB support, mention good customer service as an element of value when trading with this broker.

Opinions about the reliability of XTB

XTB is a trademark belonging to the company X-Trade Brokers Dom Maklerski SA, of Polish origin and its headquarters are located there.

It is really a group of companies, one of them based in London (XTB Limited) and another based in Limassol (Cyprus). In addition to these, XTB also has offices in countries such as the Czech Republic, Hungary, Italy, Turkey, Chile, Germany, Portugal, France, Spain and other

With regard to Spain, the headquarters are located at Calle Pedro Teixeira 8 in Madrid.

Regarding an aspect as important as regulation, we must highlight the following:

• XTB Sucursal in Spain operates under the supervision of the CNMV (Comisión Nacional del Mercado de Valores) and is registered with the number 40.
• XTB Limited is authorized and regulated by the FCA (Financial Conduct Authority) of the United Kingdom.
• For Latin America and Asia, operations through XTB International Limited are authorized and regulated by the IFSC (International Financial Services Commission) of Belize license number IFSC/60/413/TS/17.

XTB is, therefore, a properly regulated broker. It is one of the few international brokers that operate in Spain and it is regulated by the CNMV. It also complies with the most stringent European regulations for investor protection and is regulated by one of the most rigorous organizations today, such as the FCA in the United Kingdom.

As for the security of client funds, it is closely related to regulatory aspects. Following European standards, XTB must keep customer funds in a completely separate account (segregated account) from its assets, guarded by an independent banking entity. The broker can only use the funds to meet customer orders.

Another fundamental aspect to assess the reliability of an online broker is its policy of deposits and withdrawals.

XTB, in this aspect, has no negative comments regarding problems with cash movements (at least in the main forums, as far as we can see). We can consider the absence of comments on this aspect as a positive point because it means that the broker works without incident. In case there had been some kind of inconvenience with regard to deposits and withdrawals of funds, these types of actions are soon known to traders.

Deposits and withdrawals of funds in XTB can be made by different means, including bank transfer, credit or debit card or an electronic wallet (the so-called e-Wallets, such as Paypal, PayU, Skrill or Neteller).

Conclusions

In general, the opinions we have found about the XTB broker are mostly positive, as is the experience we have with this broker so far.

This broker stands out for several reasons:

• The training service offered by XTB is highly valued by beginner traders.
• The platforms offered are top-notch (its own xStation 5 platform is especially well-valued by desktop users, as is the case with its mobile device app that is considered one of the most complete today).
• It has a large number of financial instruments.
• The commissions for trading are acceptable, within the line of the market and brokers of a similar profile.
• It is properly regulated and complies with the most demanding regulations for investor protection.
• The customer service is complete and in several languages.
• It has several headquarters in different countries including the UK and Spain.

As you can see, the opinions about XTB give it a good rating. We could say in general terms that XTB has passed the test imposed by the best judges there may be, the traders themselves.

If you want to try this online broker for yourself you can open a real account from its website or open a free demo account with a $20,000 virtual balance to practice, try the platform and trading conditions of this broker.

Sign up with XTB Here: