XTB review: detailed analysis of pros, cons, and features

XTB has been a prominent online broker in the United Kingdom for several years thanks to its offering and cost structure. Its customer base has substantially grown since the introduction of the opportunity to trade stocks and ETFs without commissions.

In this XTB review, we will explore the most significant features regarding commissions, products, platforms, and more. Read on to find out whether XTB is the right broker for you.

XTB: what is it and how does it work?

XTB is a trading platform with an excellent reputation that has undergone meticulous authorisation by various regulatory entities in multiple jurisdictions, including the United Kingdom and the European Union. Its trading platform is highly versatile, offering a comprehensive range of features catering to investors and traders, regardless of skills and experience.

Furthermore, XTB offers a highly competitive cost structure. Users have the opportunity to trade various financial instruments via CFDs, including stocks, indices, ETFs, commodities, and forex.

As a point of note, it must be mentioned that XTB is not the most user-friendly platform. For instance, the maximum leverage allowed is 1:30, which can be extremely risky for beginners. It is always recommended to craft a sound risk management strategy before using leveraged products.

In addition to this, the demo account provided by XTB is accessible for a limited period of 4 weeks in which you can trade with virtual money and test all the features. However, if you decide to open a real account, the demo account is available indefinitely.

It is worth noting that XTB is not primarily aimed at beginners, although many individuals start their investment journey with them and are satisfied. However, advanced traders are highly satisfied and regard this broker as one of the best in the market.

To help you determine if XTB is the suitable solution for your trading needs, we've put together a thorough review of XTB.

Main features of XTB

Before delving into a comprehensive XTB review, let's summarise this broker using a few key points.

Main featuresDescription
RegulationsFCA
CySEC
GuaranteeUp to £85,000
ProductsCFDs
MarketsStocks
ETFs
Indices
Currencies (forex)
Commodities
Commissions and spreadsNo commissions
Spreads starting at 0.5 pips
Withdrawal feesFree for bank transfer and cards (over £50)
Minimum deposit£0
Account typesStandard
Swap-free
Demo
PlatformsxStation 5
Contactuksales@xtb.com
+44 2036953085

XTB history

Regarding XTB's history, the company was established in 2002 in Warsaw and currently boasts over 500,000 customers. It is under the financial supervision of the FCA in the United Kingdom. Since 2016, it has been listed on the stock exchange as XTB.

As a result, its financial accounts are publicly available. XTB holds a prominent position not only in Poland, where it is headquartered, but also in other countries such as Portugal, the Czech Republic, Slovakia, and more.

The chart below illustrates the historical progression of its stock market performance, highlighting the positive impact of the coronavirus pandemic, which led to a price surge of over 600% in the past five years.

Since October 2020, XTB has offered stocks and ETFs with 0% commissions, which has boosted its popularity massively.

Is XTB safe? | Regulation and funds protection

XTB is regulated by the Financial Conduct Authority in the UK and by several other entities. Essentially, XTB is licensed in every jurisdiction where its services are available.

In the United Kingdom, XTB must follow the local regulations as established by FCA, which supervises the broker. For example, this means that the broker ensures the segregation of clients' funds, so all the funds deposited with XTB are kept separately from its operations and remain protected in case of insolvency.

Is XTB reliable? | XTB guarantee fund

XTB places great emphasis on safeguarding clients' assets held in the broker's accounts. Client funds are exclusively deposited in reputable banks, with XTB conducting an annual evaluation of the solvency of these institutions. Based on the evaluation, XTB determines whether to continue or terminate its cooperation with each entity.

In essence, the Polish broker distributes the funds across multiple banking entities to ensure the security of deposited assets. This brings us to the concept of segregated accounts. It entails that client funds are held in separate bank accounts, distinct from XTB's own capital.

This measure guarantees that, in the unlikely event of insolvency, clients' capital will be returned to them rather than being used to settle the broker's debts. Thus, the money is adequately protected by being deposited in accounts that solely benefit the clients.

In addition to this, clients' funds are covered by the Financial Services Compensation Scheme. The FSCS pays claims if the broker is unable to – and each client can receive up to £85,000.

To conclude, XTB is a reliable broker to use and has a double security mechanism, segregated accounts and the FSCS compensation fund in case of bankruptcy.

Main financial assets of XTB

XTB has been expanding its product line to offer more than 2,000 financial instruments:

ProductDescription
Shares
and fractional shares
+1,900 stock CFDs
Forex+55 currency pairs
Indices+30 indices from Europe, the USA, and Asia
ETFs+150 ETFs
Commodities+25 commodities

Shares and fractional shares

XTB provides access to more than 1,900 shares that are traded on the main markets in the world. The broker also offers the opportunity to invest in fractional shares with 0% commission, so you can trade any share regardless of your budget. In addition to this possibility of investing in fractional shares, it also allows collecting dividends proportionally.

ETFs

The broker's offering includes more than 150 ETFs you can trade.

Indices

Next, XTB users access more than 30 indices, including the most important ones in Europe, the United States, and Asia.

Currencies

XTB offers a wide variety of foreign currencies, so you can trade the forex markets around the world with maximum convenience. This includes 55 different currency pairs and a leverage of up to 1:30, the maximum allowed in Europe. For CFD and forex trading, XTB offers 0.35 pip minimum spreads and a wide range of assets.

Commodities

Commodities are also taboo for several online brokers. Many only offer the main ones, such as gold, silver, and oil. However, with XTB, you can gain exposure to over 25 products, including precious metals, agricultural goods, and energy.

Cryptocurrencies

Although XTB offers cryptocurrencies for trading in other countries, these are not available to UK residents due to regulatory reasons. However, if you want to trade cryptocurrencies in the UK, have a look at the best crypto brokers.

Which markets can you trade with XTB?

In terms of stock markets – as we have already commented – there are over 15 markets, including the United Kingdom, Germany, Belgium, the Czech Republic, and Denmark. Other exchanges you can access with XTB are located in the United States, Netherlands, Poland, Portugal, and others.

In addition to these stock markets, you gain exposure to many other asset classes, too, including forex, commodities, and indices from the leading financial markets in the world.

Types of XTB accounts: standard, swap-free, and demo account

XTB offers three types of accounts: Standard, Swap-free, and demo accounts. The main differences between the first two options can be seen in the following table, and the demo account is the same as the standard type, but you trade with virtual money instead of real cash.

XTB Account FeaturesStandard AccountSwap-Free Account
Execution TypeMarketMarket
Real-time QuotesFreeFree
InstrumentsForex, Commodities, Indices,
Stocks, ETFs
Forex, Commodities, Indices,
Stocks, ETFs
Maximum Leverage1:301:30
Minimum Spread0.50.7
Commissions0%0%
Negative Balance ProtectionYesYes
Minimum Order0.01 lot (except shares and ETFs – 1 lot)0.01 lot (except shares and ETFs – 1 lot)
Automatic TradingYesYes
Account managementFreeFree
Trading PlatformsxStation 5xStation 5
Cash WithdrawalsFree (at least £50)Free (at least £50)
Minimum Deposit£0£0

XTB standard account

This account type is specifically tailored for retail experienced traders and those who have limited capital or lack experience in trading. However, it is worth noting that the spreads associated with this broker may be slightly less competitive.

The website states that the maximum leverage of up to 1:500, but it's worth noting that the maximum leverage allowed in the United Kingdom is 1:30 as per FCA rules.

XTB swap-free account

The swap-free account is the same as the standard account, except for swaps. Swaps are a type of interest rate, so this account charges a slightly higher spread instead. Those who cannot join a standard account for religious reasons may opt for this one instead.

XTB demo account

The last type is the demo account, which is free and is the same as the standard account. The only difference is that you will trade with virtual money instead of real funds. It is available for 4 weeks unless you open a real account.

This demo account is a great way of checking XTB's features before risking real cash, or inexperienced traders can build their knowledge of the financial markets. Also, it's a useful feature for veteran traders who want to test their strategies before risking cash in the market.

How to open an XTB account in the UK in 5 steps?

The process of opening an account in XTB is completely online and very quick. The steps to open an XTB account:

  1. Access the XTB website or download the xStation mobile app.
  2. Enter your email address and country of residence.
  3. Add your personal data, such as name and email.
  4. Select the trading platform and base currency of the account. This is the last step if you want to open a demo account only, or proceed to the next step to open a real account.
  5. Activate your account by verifying your identity and address.

XTB trading costs and other fees

One of the key advantages of XTB's cost structure is the lack of commissions, custody, or maintenance fees. Consequently, XTB can be regarded as part of the new wave of commission-free brokers as it stands out as one of the most competitive brokers globally in terms of fees and commissions.

Commissions, spreads, and swaps

As mentioned above, XTB charges a 0% commission on all trades, whether you opt to trade stocks, ETFs, indices, or other assets. However, there may be a limit on the minimum order amount – for instance, you must buy US stocks worth at least $50, or UK stocks for at least £100.

Next, for each order placed, you must cover the spread. This is built into the price you see on the platform and represents the difference between the buy and sell price. The spread is variable and depends on your chosen asset and market conditions, such as volatility or liquidity. For example, the spread for trading exotic currency pairs will be higher than the spread of major currency pairs.

Finally, if you keep your positions open overnight, you may be charged a swap fee (not applicable to swap-free accounts). This swap is variable as it depends on the markets.

Minimum deposit and cost for deposits and withdrawals with XTB

Finally, here is a short breakdown of the cost structure when it comes to deposits and withdrawals:

CommissionsStandard Account/Swap-Free Account
Account opening fee£0
Minimum deposit£0
Inactivity£10
Custody£0
Commission for withdrawal/deposits
over £50
£0
Commission for
withdrawal/deposits under £50
£30

The inactivity fee applies only if your account is inactive for more than 12 months and it is charged monthly after that.

XTB platforms: xStation 5 and xStation Mobile

XTB offers a proprietary platform, xStation 5. This platform is very easy to use, intuitive, with great execution speed and awarded by the Rankian community in the Rankia Awards 2020 as the best mobile application platform for trading.

xStation 5

This platform allows for superior execution speed, a feature highly valued by short-term traders (scalpers, day traders).

BTC quotation on xStation 5

The platform has multiple trading-friendly features, including advanced charts, an easy-to-use interface, an economic calendar, and more.

xStation Mobile

With xStation Mobile, traders will be able to access their trading accounts and make trades from anywhere and at any time through their mobile devices.

The platform offers a wide range of features, such as advanced charts, a wide selection of trading instruments, real-time news and price alerts. There is also an automated trading option available through the platform.

xStation Mobile is available for free download on the Apple App Store and on Google Play for Android devices.

XTB customer service

Customer service is available via many channels, so traders can receive timely support regardless of their issues. The team can be contacted via:

  • In-person:  Level 9, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom
  • Online: online chat is available
  • Email: uksales@xtb.com
  • Phone: +44 2036953086.

XTB training & market analysis

One of the aspects where XTB stands out the most is its educational and market analysis section. Beginners can consult the “Learn to Trade” section to get familiar with key concepts. Also, there is a thorough knowledge base that covers aspects related to financial instruments, technical analysis, fundamental analysis, the trading platform, guides, and more.

Next, there is a comprehensive market analysis section. Users can stay up to date with market news, consult price tables, and check the market calendar to find out the most important events.

Is XTB for beginners or experts?

XTB is highly versatile, so it could be the right broker for any trader, regardless of their experience and knowledge.

Is XTB the ideal broker for beginners?

XTB is a relatively user-friendly online broker, so even novice traders can quickly become acquainted with its interface. Although it may not be the most intuitive platform available, trading with XTB's xStation platform is remarkably straightforward. Users can simply search for a specific asset using the search function, select it, and open a position. If you are a novice, have a look at our best brokers for beginners.

One of the standout features that make XTB particularly appealing is its extensive range of training tools, which are virtually unmatched. XTB offers a comprehensive trading academy covering all the markets it supports, technical and fundamental analysis, risk management, and a tutorial on maximising the benefits of xStation.

What sets XTB apart is the adaptability of its training resources to cater to the skill level of individual traders, offering options ranging from basic to intermediate, expert, and premium.

The market analysis service provided by XTB is also noteworthy, as it presents up-to-date market news and an economic calendar highlighting key economic and financial events. This feature is crucial, as such events can significantly influence market movements and price fluctuations. Having a tool that provides this information makes staying informed much more convenient.

Is XTB ideal for experts?

XTB is a highly suitable broker for experienced traders, too. The cost structure with 0% commissions sets it apart from the competition, making it an excellent choice for active traders looking for the best commission-free brokers.

XTB offers one trading platform, namely xStation 5 and its mobile version. Both are user-friendly and cater to the needs of both beginners and experts. However, experienced traders can fully leverage the platforms' technical analysis tools or use automated trading techniques to enhance their strategies.

Additionally, the platform allows for customisation, enabling users to display their preferred assets and indicators. Both beginners and experienced traders will appreciate the comprehensive training provided by XTB. The training curriculum covers a wide range of topics and can be tailored to suit the requirements of all users, ensuring there is always something new to learn.

User reviews of XTB

In recent years, the reviews of XTB have undergone significant changes. The company's commitment to providing extensive training and employing reputable analysts, along with the introduction of commission-free trading, has positioned XTB as one of the preferred brokers for investors in Europe. It has also established itself among the top five largest European brokers based on the number of active clients.

Trustpilot, a popular platform for reviews and ratings of various services, contains numerous reviews of XTB. Generally, the opinions about this broker are positive. It is worth noting that XTB has garnered a substantial number of reviews, reaching 737, of which 58% rate the broker as excellent.

Finally, here is the general opinion of XTB users in the Google Play app version:

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XTB review: summary

XTB is an exceptional CFD broker, regulated by multiple financial authorities worldwide. Over the years, reviews of XTB have undergone significant changes.

The broker's emphasis on education and its team of renowned analysts, coupled with its commission-free offerings have positioned it as one of Europe's preferred brokers. With a substantial number of active clients, XTB ranks among the top five European brokers. In our assessment, XTB reveals itself as an excellent broker that provides a wide range of financial instruments, catering to various types of traders.

While XTB's platform is user-friendly, it may not be the most beginner-friendly option available. However, newcomers can gain experience by practising with the demo account.

To conclude, this review highlighted the advantages and disadvantages of using XTB, as summarised in the following table.

Pros of XTBCons of XTB
Local supervision by regulatory bodies in all countries in which it is present❌ Only one trading platform available
✅ Many types of assets and markets❌ Mid-range spreads
0% commissions
✅ Comprehensive training and educational section 
✅Platform is intuitive and straightforward

XTB FAQs

Who regulates XTB?

It has several regulators, including the FCA (Financial Conduct Authority) in the United Kingdom.

Does XTB have an office in the United Kingdom?

Yes, the office is located at Level 9, One Canada Square, Canary Wharf, E14 5AA, London, United Kingdom

Is the XTB demo account unlimited?

Yes, but only if you open a real account with XTB. Otherwise, the demo account is available for 4 weeks.

Is XTB safe?

XTB is considered a safe broker. It is regulated by the FCA and is covered by the FSCS in case of insolvency.

Does XTB have an Islamic account?

Yes, XTB offers a swap-free account.

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