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Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.
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XTB is undeniably a pacesetter in the online trading universe. It’s a favorite for over a million savvy traders from around the globe, from the UK to Vietnam. And this broker deserves all the recognition and popularity it’s getting because it’s nothing short of terrific. We have used it countless times and highly recommend it to our esteemed readers.
Why do we at BrokerRaters vouch for XTB, you may wonder? We’ve highlighted our reasons in this XTB review. But here’s a teaser. We highly recommend this broker because it has zero minimum deposit requirements, no inactivity fees, and excellent support service. Above all, it’s regulated by renowned authorities like CySEC and the FCA. Read on.
In This Guide
Our Opinion about XTB
Regulated by multiple authorities, from CySEC in Cyprus to the FCA in the UK and the IFCS in Belize, XTB is one of the most credible and reliable brokers today. The company is headquartered in Poland but has offices in different regions, including France, Portugal, and Dubai. Several platforms have made us enamored of XTB. First and foremost, the broker has no minimum deposit requirement. We love this element because it allows all our readers- both high-budget and low-budget individuals- to sign up and trade with XTB without any hassles.
Furthermore, XTB offers a mouth-watering array of financial instruments. These range from over 3,000 stocks and 400 ETFs to 2,300+ CFDs on leveraged assets and indices. The icing on the cake is that the broker supports both trading and investing. You can trade leveraged instruments or invest in assets like Apple, Tesla, and Alphabet stocks, which come with 0% commission. Tradable products also boast competitive spreads starting from 0.8 pips for popular currency pairs.
XTB
✔User-friendly interface
✔Expert customer support services
Pros & Cons
Pros
- Users have access to thousands of tradable and investment products
- No minimum deposit requirement
- Simple, user-friendly interface
- Offers multiple deposit and withdrawal methods with zero fees
- Excellent, expert customer support services
- Competitive spreads and low commissions starting from 0%
Cons
- Only proprietary trading platforms are available
- No dedicated desktop app
Fees
We love XTB because it is one of the most affordable brokers out here. How so? For starters, there are no XTB minimum deposit requirements. Moreover, the broker’s users don’t have to pay additional fees while funding their accounts or cashing out. Most importantly, XTB doesn’t require traders to cover account opening, maintenance, or inactivity fees. In the table below, we’ve highlighted the fees, commissions, and costs you should take note of before committing to XTB.
| Fees and Charges | Amount |
|---|---|
| Account opening and maintenance | $0 |
| Minimum deposit | $0 |
| Deposit fee | $0 |
| Withdrawal fee | $0 for withdrawals above $50; $30 for withdrawals below $50 |
| Investing commission | From 0% |
| Spreads | From 0.3 pips |
| Currency conversion fee | 0.5% |
| Inactivity fee | $0 |
Available Assets
XTB users have unlimited access to 5,800+ financial products, ranging from forex pairs to commodities. You will be hard-pressed to find a broker with a more impressive asset portfolio than XTB. Let’s run through some of the assets we encountered while exploring and evaluating the XTB online trading platform:
- Shares: Over 2,900 stocks are available on the XTB online trading platform, including popular products like Tesla, Amazon, and Intel Corp. You can start investing in them with capital as low as $10.
- ETFs: As an XTB client, you can diversify your portfolio by investing in different ETFs, such as Dell Technologies, FACC AG, and PayPal Holdings PLC. The best part is such products have zero commission and a $10 minimum order requirement, which is pretty low.
- Forex: Over 71 popular forex pairs are accessible to XTB users, from EUR/GBP and AUDCHF to NZD/USD, USD/CAD, and GBP/ZAR.
- Indices: Presently, this broker offers 30+ indices, including popular instruments like AUS200, FRA, and US100. You can trade these products and magnify potential returns with flexible leverage.
- Commodities: XTB offers you the opportunity to trade CFDs over 25 commodities, from cocoa and coffee to oil, gold, and gas.
Security
We have no qualms or concerns when it comes to XTB’s security. This broker adheres to strict mandates set by different regulatory authorities, including the FCA, IFSC, and CySEC. For starters, XTB keeps client money in fully segregated bank accounts where it can’t mingle with company resources meant to cover the platform’s daily operations.
Here’s more good news for XTB users in the UK. This company is a member of the FSCS, which provides coverage of up to £85,000 per person. In other words, UK XTB users can rest assured they will be compensated if this company becomes insolvent. Additionally, the XTB broker holds a Lloyds insurance policy that covers clients with account balances exceeding $20,000. The Lloyds policy offers coverage of up to $1 million.
XTB encrypts all connections using top-tier encryption technologies. So rest assured that all communications between your device and the broker’s servers will always be secure and safe from malicious entities. Moreover, while trading with the XTB platform, you can enhance security by implementing extra measures like 2FA and fingerprint authorization.
Conclusion
Our XTB broker review has touched on this commendable brand’s upsides as well as some of its drawbacks. As usual, everything we’ve reported is free of bias and factual. It’s based on hours of research, evaluations, and insights from customer testimonials on Google Play, the App Store, and Trustpilot. That said, this is just a brief review. We encourage you to learn more by visiting the official XTB website and learning all you can before signing up.
Most importantly, before trading with XTB, use demo accounts to test the platform as well as your skills. If you fail to generate consistent returns in demo mode, please educate yourself and improve your trading skills with demo accounts before switching to live trading.
BrokerRaters Rating:
✔User-friendly interface
✔Expert customer support services
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Risk Warning
CFDs are leveraged products and carry a significant risk of loss to your capital, as prices may move rapidly against you and you may be required to make further payments to keep any trades open. These products are not suitable for all clients, therefore please ensure you fully understand the risks and seek independent advice.
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