XTB Reviews – Is XTB reliable broker?
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The opinions and comments that can be seen in the forums and Internet 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 a good service and in which our money is safe . In this article we are going to analyze in depth the customer opinions of the XTB broker , 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 compilation of positive and negative opinions of XTB users that we have found in various investment forums, blogs and specialized web pages.
What is XTB?
X-trade Brokers DM, better known as XTB ( https://www.xtb.com/es/ ), it is an online broker with which you can invest in many different financial instruments: more than 50 currency pairs, commodities, CFDs on stocks, indices, … Recently also expanding its product offering and allowing customers to purchase stocks and ETFs in cash (physical purchase).
XTB started its activity in 2002 . The truth is that after these years after its creation, XTB has established itself in the financial intermediation sector of the foreign exchange market (Forex) and CFDs as one of the most solid , has offices in more than 14 countries and is regulated by some of the most demanding international organizations.
Despite being a broker of Polish origin,all the pertinent guarantees regarding 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 beginning trader . Proof of this is for example this comment about your training service shown on the Rankia.com portal
XTB offers several trading platforms such as its powerful xStation and also the popular Metatrader 4. The spreads (differential between purchase price and sale price) it charges are quite low (from 0.9 pips for Standard accounts and from 0.28 pips for Pro accounts with commission per lot operated).
Let’s see below the user opinions about XTB grouped into several categories:
XTB Reviews trading platforms
– To trade through a desktop computer , the XTB broker offers us two platforms: Metatrader 4 and xStation .
This platform is widely known and appreciated by the vast majority of traders. In fact, it can be considered the main trading platform existing today worldwide .
Created by the company MetaQuotes Software Corp. (it is not XTB’s own or exclusive, it is also offered by other online brokers). Its ease of use, versatility, depth of analysis and highly customizable are the main ingredients of its success.
All this without counting that it allows to carry out algorithmic trading in a simple way through Expert Advisors (automated trading systems, more commonly known as trading “robots”).
We can operate with Metatrader 4 completely online from a web server, or we have the option of downloading it to our computer.
The opinions on MetaTrader 4 that can be found in all kinds of forums and specialized trading websites are mostly positive and it is considered a versatile platform for both novice and experienced traders.
Unlike MT4, this platform does belong to XTB and the truth is that, looking at the experiences and opinions of users found on portals such as Trustpilot (shown in the following image), it is a trading tool that has 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.
Currently it is a platform that can be used for both beginner traders and those who are more experienced (simple and complete at the same time).
Like Metatrader, the XTB xStation 5 platform is available for both over-the-network operation, with no download required; or if the user prefers it (for adaptation, personalization or simply preference reasons) it can be downloaded to the computer.
xStation is one of the fastest platforms available , making it a good tool for short-term trading (for example, scalping ). Otherwise, the opinions of users speak for themselves, we can not add much more about it.
NEW: Discover the tutorial we have prepared on the XTB broker . You can learn step by step , with screenshots, how your trading platform is managed , the available tools and how to open, control, edit and close positions with this online broker.
– 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 this type of device. In this case it requires the download and installation on the device. It is available both for those terminals that use the Android and iOS operating systems.
The opinions found on 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 . You can see more information about this app at this link: Review of the XTB xStation trading app
XTB Service Reviews
– Available instruments:
The offer of financial instruments to operate with the XTB broker 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 indexes of the most relevant
- Main raw materials (gold, silver, oil, ect.)
- Cryptocurrency CFDs
- Spot actions
- CFDs on shares
- Spot ETFs
- CFDs on ETFs
In this case, XTB offers a range according to the requirements of an industry broker. No instrument is missing to operate.
Another issue is that there has been a problem with any of the available instruments , more specifically with cryptocurrencies:
When Bitcoin was on the rise (in December 2017), many intermediaries decided (unilaterally) to stop offering the opening of positions in this type of instrument due to the inability to hedge. It was not an isolated XTB maneuver. However, opinions on this fact soon came to the fore as can be seen in these conversations in various forums:
– Trading accounts:
There are two types of real accounts to be able to open in XTB, apart from the demo 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 time and the liquidity conditions that exist in the market.
The most liquid markets have a lower Spread, therefore, the EUR / USD (the most liquid existing) pair is taken as a reference to compare and get an idea of where the commissions may be. In this case, the minimum Spread is 0.8 pips for that currency pair.
This account is designed for trading professionals , as demonstrated by the initial capital required to open this type of account (300,000 euros).
However, the conditions in terms of costs are better than the Standard account. The Spreads are still floating, however, for the EUR / USD pair they stand at 0.28 pips (under normal conditions). Remember that we are talking about minimum spread. The spread difference between one account and another is compensated (for the broker) with a fixed commissionto trade Forex, Indices and Commodities (from € 3.50 per lot). Normally, when operating with this account and with this minimum capital, it is logical for the operator to open high volume positions. This is why it pays you to pay a small fixed commission than a higher Spread (the amount of the Spread increases as the position size increases). In other words, the trader who operates with large amounts is profitable the Pro Account.
As for the XTB demo account, it complies with the requirements, except that the period of use is limited to 30 days. For the rest, € 20,000 of virtual balance is available to operate as a test in the markets.
In this type of account we can thoroughly test the XTB platform and check the opinions of the users that we have previously shown. In addition, it is a learning process, before moving on to operating with real money in the financial markets.
Traders’ experiences are not bad when trading with any of the XTB accounts, based on the opinions that we find. As for example, it is in the Trustpilot portal
– Customer service:
The XTB broker is characterized by offering quality customer service . This is one of its greatest competitive advantages.
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 the XTB support, mention the good customer service as an element of value when operating with this broker:
Reliability XTB Reviews
XTB is a trademark belonging to the company X-Trade Brokers Dom Maklerski SA , of Polish origin and its headquarters are there.
It is really a group of companies, one of them based in London (XTB Limited) and the other based in Limassol (Cyprus). In addition to the above, it also has offices in countries such as the Czech Republic, Hungary, Italy, Turkey, Chile, Germany, Portugal, France, …
Regarding , the headquarters is located at Calle Pedro Teixeira 8 in Madrid.
Regarding such an important aspect as regulation, we must highlight the following:
- XTB operates under the supervision of the CNMV (National Securities Market Commission) and is registered in its registry with number 40.
- XTB Limited is licensed and regulated by the FCA , the UK Financial Conduct Authority.
- For Latin America it operates through XTB International Limited is authorized and regulated by the Belize IFSC (International Financial Services Commission) license number IFSC / 60/413 / TS / 17.
XTB is therefore a properly regulated broker . It is one of the few international brokers that operate, which are based here and are regulated by the CNMV. It also complies with the most demanding European investor protection regulations and is regulated by one of the most rigorous bodies today, such as the United Kingdom’s FCA.
As for the security of the funds, it is closely related to regulatory aspects. Following European standards, the XTB broker must keep clients’ funds in a totally separate account (segregated account) from their assets, guarded by an independent banking entity. You can only use the funds to meet the customer’s orders.
Another fundamental aspect to assess the reliability of an online broker is its policy of deposit and withdrawal of funds .
XTB , in this aspect, does not have any negative comments regarding cash movement problems (at least in the main forums, as far as we can see). We can consider the absence of comments in this regard as a positive point because it means that the broker works without incident. In the event that there had been any kind of inconvenience, this type of action would soon be heard by the traders.
Deposits and withdrawals are made by means of payment, either traditional (a bank transfer or a credit or debit card ) or an electronic wallet (the so-called e-Wallets, such as Paypal and PayU, Skrill or Neteller ).
In general, the opinions we have found about the XTB broker are mostly positive, as is the experience we have had with this broker so far.
This broker stands out for several reasons:
- The training service it offers is highly valued by beginning traders .
- The platforms offered are first-rate (its own xStation 5 platform is especially highly valued by desktop users, as is the case with its mobile app that is considered one of the most complete today . You can see more information about this app at this link: trading app for mobile devices ).
- It has a large number of financial instruments .
- The fees are acceptable operate within line market and brokers a similar profile.
- It is duly regulated and complies with the most demanding investor protection regulations.
- The customer service is complete and in Spanish .
- It has its headquarters in Spain and is regulated by the CNMV .
As you can see, XTB reviews give it a good rating . We could say in general terms that XTB has passed the test imposed by the best judges there can be: the traders themselves.
If you want to try this online broker for yourself, you can open a real account from its website ( https://www.xtb.com ) or open a free demo account with € 20,000 of virtual balance to practice, try the trading conditions platform of this broker.
And if you already have experience working with this broker you can send us your own opinions about XTB using the comment form at the bottom of this page. Also, as always, you can share this article on social networks (Facebook, Twitter, Google +, …) Thank you very much.