{"id":506270,"date":"2022-01-22T10:13:38","date_gmt":"2022-01-22T10:13:38","guid":{"rendered":"https:\/\/www.publicfinanceinternational.org\/?p=506270"},"modified":"2023-01-09T09:32:26","modified_gmt":"2023-01-09T09:32:26","slug":"xtb-review","status":"publish","type":"post","link":"https:\/\/www.publicfinanceinternational.org\/xtb-review\/","title":{"rendered":"XTB Review – Is it Safe and Legit?"},"content":{"rendered":"
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\"XTB<\/figure>\n\n\n\n
Visit XTB >><\/a><\/center>\n\n\n\n

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider.<\/strong> You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.<\/p>\n\n<\/div><\/div><\/div>\n\n

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Founded in 2002, XTB is a well-known CFD broker that is based in London and Warsaw. Several regulators across the world oversee XTB\u2019s operations, including the tier-1 UK Financial Conduct Authority (FCA). XTB publishes its financial records in a transparent manner, which is always a plus when it comes to online brokers. <\/p>\n\n\n\n

XTB has gained traction in the highly competitive industry, and now offers access to a good range of markets, including FX, stocks, metals, commodities, indices, and cryptocurrencies.<\/p>\n\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n

Could this CFD broker possibly be the one you\u2019ve been looking for?  If you\u2019re looking for an in-depth answer to this question, you\u2019ve come to the right place.<\/p>\n\n\n\n

Disclaimer: <\/strong>CFDs are highly complex instruments that carry a high risk of losing your money quickly due to their leverage.  When trading CFDs<\/a> with this supplier, 73 percent of retail investor accounts lose funds. You\u2019re recommended to think about whether you really understand how CFDs work and whether you are ready to take the risk of losing your money.<\/p>\n\n\n\n

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Summary<\/h2>\n\n\n\n

XTB is a good option for traders who wish to cut their costs as much as possible, whether it's the cost of placing a trade or not having to pay extra fees like wire fees. Non-U.K. traders can get up to 500:1 leverage, whereas UK-based traders can acquire up to 30:1 leverage. xStation 5, XTB's main platform, is an innovative, web-based offering. XTB's whole online offering to the clients consists of this, as well as the downloadable MT4 platform and a user-friendly mobile app. The broker prioritizes customer service and provides great educational materials and research resources, which would be beneficial to new traders.<\/p>\n\n\n\n

However, it\u2019s not available for US-based clients and its non-FX spread costs are rather high. Moreover, it has a modest range of offerings compared to other strong competitors. <\/p>\n<\/div><\/section>\n\n\n\n

Overview<\/h2>\n\n\n\n

Here is a quick overview of XTB basic information:<\/p>\n\n\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Broker<\/th>XTB<\/td>\n<\/tr>\n
Founded<\/th>2002<\/td>\n<\/tr>\n
Headquarters<\/th>Warsaw, Poland<\/td>\n<\/tr>\n
Minimum Deposit<\/th>$0<\/td>\n<\/tr>\n
Withdrawal Fees<\/th>Varies<\/td>\n<\/tr>\n
Inactivity Fees<\/th>\u20ac10 after one year of inactivity<\/td>\n<\/tr>\n
Demo Account<\/th>Yes<\/td>\n<\/tr>\n
Forex Trading<\/th>Yes<\/td>\n<\/tr>\n
CFD Trading<\/th>Yes (1500+)<\/td>\n<\/tr>\n
Cryptocurrency <\/th>Yes<\/td>\n<\/tr>\n
Copy Trading\/Social Trading<\/th>No<\/td>\n<\/tr>\n
Regulation<\/th>FCA,CySEC,IFSC<\/td>\n<\/tr>\n
Mobile App<\/th>Yes<\/td>\n<\/tr>\n
Customer Support<\/th>Phone, live chat and email<\/td>\n<\/tr>\n
US-Accepted<\/th>No<\/td>\n<\/tr>\n
Our Score<\/th>4.7\/5<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n

Pros and Cons<\/h2>\n\n\n\n

XTB is a CFD broker, regulated by top-tier authorities. Below we list the pros and cons:<\/p>\n\n\n\n

Pros<\/th>Cons<\/th><\/tr><\/thead>
ETFs\/free stocks up to \u20ac100k monthly volume<\/td>Monthly inactivity fee <\/td><\/tr>
Regulated by tier-1 FCA<\/td>High stock CFD fees<\/td><\/tr>
The majority of withdrawals via bank transfers are fee-free<\/td>Few minor account currencies that are accepted<\/td><\/tr>
Listed On Stock Exchange<\/td>Non-FX spread costs are high<\/td><\/tr>
Mostly fee-free deposits<\/td>No two-step login<\/td><\/tr>
Low fees for forex and stock index CFD<\/td>The broker doesn\u2019t hold a banking license<\/td><\/tr>
Fast and fully digital account opening process<\/td>Limited fundamental data<\/td><\/tr>
Demo Account<\/td>No guaranteed stop loss<\/td><\/tr>
No account minimum<\/td>No 24\/7 customer support<\/td><\/tr>
Transparent fee report<\/td>Doesn\u2019t accept US-based clients<\/td><\/tr>
Negative balance protection<\/td>No automated trading capabilities or back-testing<\/td><\/tr>
User-friendly platform<\/td><\/td><\/tr>
Price alerts in the mobile app<\/td><\/td><\/tr>
Charting tools<\/td><\/td><\/tr>
Good-quality news flow<\/td><\/td><\/tr>
Phone and live chat support<\/td><\/td><\/tr>
Responsive customer support<\/td><\/td><\/tr>
Great educational material<\/td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

XTB Compared<\/h2>\n\n\n\n

One of the best ways to decide whether a certain broker is good enough or not is by comparing it to its biggest competitors, which is exactly what we\u2019re doing in the following table:<\/p>\n\n\n

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Broker<\/th>XTB<\/strong><\/td>Trading 212<\/strong><\/a><\/td>eToro<\/strong><\/a><\/td>Degiro<\/strong><\/a><\/td>Plus500<\/strong><\/a><\/td>Oanda<\/strong><\/a><\/td>IG<\/strong><\/a><\/td>\n<\/tr>\n
Founded<\/th>2002<\/td>2004<\/td>2006<\/td>2008<\/td>2008<\/td>1955<\/td>1974<\/td>\n<\/tr>\n
Minimum Deposit<\/th>$0<\/td>$1<\/td>$50 - $200<\/td>$0<\/td>$100<\/td>$100<\/td>$300<\/td>\n<\/tr>\n
Inactivity Fees<\/th>\u20ac10 after one year of inactivity<\/td>$0<\/td>$10\/month after 1 year<\/td>$0<\/td>$10\/month<\/td>$14\/month<\/td>$18 per month after 24 months of inactivity<\/td>\n<\/tr>\n
US-Accepted<\/th>No<\/td>No<\/td>Yes<\/td>No<\/td>No<\/td>Yes<\/td>Yes<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<\/div>\n\n\n\n

Account Opening Process<\/h2>\n\n\n\n

The account opening process at XTB is completely digital. It takes about 30 minutes to complete all of the forms and submit all of the paperwork. Your account should be verified within a day after you've finished. The steps to creating an XTB account are as follows:<\/p>\n\n\n\n

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  1. Write your country of residence and email address.<\/li>\n\n\n\n
  2. Enter some personal information, such as your address and your date of birth.<\/li>\n\n\n\n
  3. Choose the trading platform and the base currency for the account.<\/li>\n\n\n\n
  4. You\u2019ll be asked to answer some questions about your financial status, employment status, and trading experience.<\/li>\n\n\n\n
  5. Verifying your residency and identity.<\/li>\n<\/ol>\n\n\n\n

    If you\u2019re based in one of certain countries in Europe, you can use video chat to verify your identity. You must upload a picture or scanned copy of your ID, driver's license, or passport if video verification is not an option<\/p>\n\n\n\n

    Products<\/h2>\n\n\n\n

    XTB gives you access to a good selection of assets: <\/p>\n\n\n\n