Contents
Introduction
Definition of Online Brokers
An online broker is a middleman between the buyer and seller in investment transactions. These transactions usually include stocks, futures contracts, options, forex, or cryptocurrency. Before technology supported automated trading, investment transactions were done physically through physical brokers and exchanges. With technology now available, most of these exchanges also offer transaction services through online brokerages.
Benefits of Investing Through Online Brokers
Online brokers are a favored trading option, allowing traders to make rational and independent investment choices. Customarily, brokers and their agents permitted users to trade in investment choices that would let them earn the most commission. This means that their investment agents pushed investments toward investors with an orientation toward maximizing their commission. Most users generally prefer to do their trading online, as they get to make trading decisions without excessive influence. Online brokers let their investors manage their investments and accomplish their transactions regardless of physical boundaries.
Online trading is also more suitable for handling assets in volatile markets as it allows traders to manage rapid price changes in their portfolios. Online trades are executed faster and cheaper in online trading. This is because most online platforms charge lesser fees than traditional brokerage houses.
Highlights
| Demo Account | Yes |
| Leverage | 1:500 Max |
| Available Assets | forex, bonds, stocks, options, futures, and cryptocurrency |
| Deposit Methods | Bank transfers, credit and debit card, as well as Paysafe |
| Base Currencies | EUR, USD, GBP, HUF. |
| Min Deposit | None |
| Regulation | UK Financial Conduct Authority, CySEC, Belize International Financial Services Commission |
| Account Type | Standard and Pro |
| Trading Platform | Web Trade Platform |
- Trading Platform
XTB offers traders an approach to trade in 1,848 shares, 135 ETFs, 22 commodities, 36 indices, 5 cryptos, and 57 forex pairs. XTB also provides nearly 7,800 cash-based equities and 150 ETFs under its securities range. Cryptocurrency trading is possible, but not under XTB’s UK entity and platforms.
- Fees & commission
XTB has a standard account and a professional account. The standard account is based on spread-based pricing, while the professional account is commission based. Pricing is industry competitive but cannot be compared with leading brokers.
Minimum deposits required are $250, or €250, and the spread on EUR/USD was 0.91
- Leverage
The leverage requirements on XTB vary across different geographical locations. Leverage rates are automatically calculated according to the margins. The maximum leverage ranges from 500:1 for non-UK-based users, while UK accounts can avail of 30:1 leverage.
- Platforms & tools
XTB’s leading platform is its web-based xStation 5. This platform, along with the downloadable MetaTrader 4 (MT4) platform and a mobile application, is all XTB has to offer to its user. While trading costs are like industry standards, XTB’s offer continuously low spreads
The platform has a modern interactive design, drawing tools, and technical indicators. The charts also have a timer that displays the time left in every candlestick.
- Account opening & deposit/withdrawal experience
XTB allows its clients to open accounts in three basic steps, which require filling in an account opening application, verifying their identity, and depositing the funds. This then allows users to fund their trading accounts.
There is no minimum deposit requirement, but deposited funds depend on the margin requirements of the trade size. The platform applies a $10 inactivity fee if there is no activity over 365 days and no cash has been deposited in the last 90 days.
- Customer service & support
Customer support is adequate as a user can get in touch with customer support by calling specific numbers for marketing, account opening, and offices. There are also over 15 languages available to pick from and social media platforms available for users to communicate with the platform. There is also 24/5 local phone support and a live chat option. The live chat is not very effective, as many people end up getting diverted toward an email.
- Education & learning resources
The educational resources on the XTB website are spread into four groups, basic, intermediate, expert, and premium. Only basic and intermediate are available through the website. Expert courses are currently unavailable, and Premium offerings are accessible on the xStation 5 platform for people opting for the demo or live account.
All categories offer introductory videos and guides. The material covers basic information about forex and CFD trading.
- Research & analysis
XTB’s research offerings are above average. There is an economic calendar that is intuitive and searchable. There is also a news feed that can be searched according to instruments, signals, and fundamental and technical analysis reports. The most remarkable feature is the market analysis tab which covers market sentiment, top movers, stock scanners, and market heat segments.
- Regulatory compliance & security
All platforms are regulated by their respective controlling authorities, the most significant being the XTB UK, which the UK Financial Conduct Authority controls. The
XTB Europe platform falls under the Cyprus authority known as CySEC, while the Belize International Financial Services Commission controls the XTB International
- Mobile trading
The mobile version of xStation 5 offers almost all the functions available on the desktop application, apart from setting price alerts, which looks like a planned oversight. Traders can trade on all trading instruments, order types, details, and charts from Android or iPhone apps. A news feed is also streamed on the mobile app.
Overview of the XTB platform
Fees and Commission
XTB has a standard account and a professional account. The standard account is based on spread-based pricing, while the professional account is commission based. Pricing is industry competitive but cannot be compared with leading brokers.
Minimum deposits required are $250, or €250, and the spread on EUR/USD was 0.91
Range of Investment Opportunities
XTB offers traders an approach to trade in 1,848 shares, 135 ETFs, 22 commodities, 36 indices, 5 cryptos, and 57 forex pairs. XTB also provides nearly 7,800 cash-based equities and 150 ETFs under its securities range. Cryptocurrency trading is possible, but not under XTB’s UK entity and platforms.
Overall Ratings
XTB is a popular broker for trading and international trading. It is a good platform that offers a broad range of global assets and its high capacity and technically advanced analytical tools and calculators. Investing funds through the XTB platform can be done through advanced traders as the platform offers global assets and strong research into their investment pros and cons.
In-Depth Review of the XTB Platform
Trading Platform
XTB’s leading platform is its web-based xStation 5. This, along with the downloadable MetaTrader 4 (MT4) platform and a mobile application, is all XTB has to offer to its user. While trading costs are like industry standards, XTB’s offer continuously low spreads
The platform has a modern interactive design, drawing tools, and technical indicators. The charts also have a timer that displays the time left in every candlestick.
Platforms and Tools
XTB offers traders an approach to trade in 1,848 shares, 135 ETFs, 22 commodities, 36 indices, 5 cryptos, and 57 forex pairs. XTB also provides nearly 7,800 cash-based equities and 150 ETFs under its securities range. Cryptocurrency trading is possible, but not under XTB’s UK entity and platforms.
Account opening & deposit/withdrawal experience
XTB allows its clients to open accounts in three basic steps, which require filling in an account opening application, verifying their identity, and depositing the funds. This then allows users to fund their trading accounts.
There is no minimum deposit requirement, but deposited funds depend on the margin requirements of the trade size. The platform applies a $10 inactivity fee if there is no activity over 365 days and no cash has been deposited in the last 90 days.
Customer service & support
Customer support is adequate as a user can get in touch with customer support by calling specific numbers for marketing, account opening, and offices. There are also over 15 languages available to pick from and social media platforms available for users to communicate with the platform. There is also 24/5 local phone support and a live chat option. The live chat is not very effective, as many people end up getting diverted toward an email.
Education & learning resources
The educational resources on the XTB website are spread into four groups, basic, intermediate, expert, and premium. Only basic and intermediate are available through the website. Expert courses are unavailable, and Premium offerings are accessible on the xStation 5 platform for people opting for the demo or live account.
All categories offer introductory videos and guides. The material covers basic information about forex and CFD trading.
Research & Analysis
XTB’s research offerings are above average. There is an economic calendar that is intuitive and searchable. There is also a news feed that can be searched according to instruments, signals, and fundamental and technical analysis reports. The most remarkable feature is the market analysis tab which covers market sentiment, top movers, stock scanners, and market heat segments.
Regulatory Compliance & Security
All platforms are regulated by their respective controlling authorities, the most significant being the XTB UK, controlled by the UK Financial Conduct Authority. The
XTB Europe platform falls under the Cyprus authority known as CySEC, while the Belize International Financial Services Commission controls the XTB International
Mobile trading
The mobile version of xStation 5 offers almost all the functions available on the desktop application, apart from setting price alerts, which looks like a planned oversight. Traders can trade on all trading instruments, order types, details, and charts from Android or iPhone apps. A news feed is also streamed on the mobile app.
Wrap-up
Summary of Key Features
XTB Online Trading offers its potential users multiple tools necessary for success in online trading. What XTB does better than other platforms is offer its clients the least forex spread in the industry. The spread and commission for other investment options are equivalent to the industry. Its xStation 5 platform is restricted in its offering but is functional and has some unique options like the asset scanner and market heat map that add to its appeal for traders.
Pros and Cons of XTB
XTB is a top trading platform for international traders because it offers an impressive range of global assets to invest in. Its range of assets, refined trading options, and robust research offerings make XTB an attractive platform to join.
XTB is a trusted platform with a wide range of tradeable assets, customer service, robust research, and advanced xStation 5 proprietary platforms. It is restricted by its pricing, particularly for forex options.
Final Considerations
XTB is a platform offering forex, bonds, stocks, options, futures, and cryptocurrency for traders. It supports desktop, online, and multiple Android and iOS mobile versions. The platform’s apps have almost identical options as the web platform, except that they don’t support price tracking.
The xStation 5 app is a good design that reflects the strengths of the web version. The charts are not very efficient or comprehensive, and seasoned traders may be disappointed. It needs to improve its app, charting options, and pricing to enter top brokers’ major leagues.
Conclusion
XTB is an efficient offering to help users access the major international financial markets and allows them to trade all these assets on its desktop, web-based, and mobile versions. Its platform interface is well-designed and offers users technical and fundamental research and charting options. Financial calculators also allow users to assess potential, but it is just average and not better than other platform offerings.
All platforms are regulated by their respective controlling authorities, the most significant being the XTB UK, controlled by the UK Financial Conduct Authority. The XTB Europe platform falls under the Cyprus authority known as CySEC, while the Belize International Financial Services Commission regulates the XTB International
The customer support is adequate as a user can get in touch with customer support in over 15 languages. Social media platforms are also available for users to communicate with the platform. There is also 24/5 local phone support and a live chat option.
In short, XTB is a good platform that should appeal mainly to forex traders as its pricing is competitive for forex deals, while it is average in other asset classes.
Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don't offer financial advice, and we strongly recommend users to perform their own research and due diligence.