XTB Rreview

The XTB Group (XTB) is a global forex and CFDs broker that was established in 2002. It is the largest exchange-listed broker in the world and has regional offices in thirteen countries. XTB provides an award-winning proprietary trading platform to access multiple assets, including forex, stocks, commodities, indices, ETFs and cryptocurrencies. XTB is licensed and regulated by five top-tier authorities and is a safe and reliable broker for forex traders in Africa.

Overall Rating

4.6/5

Rated #69 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FCA, CySEC, IFSC, KNF

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XTB

Is XTB regulated?

Yes, the XTB Group is licensed and regulated by five authorities; the Financial Conduct Authority (FCA) in the United Kingdom, the International Financial Services Commission (IFSC) in Belize, the Cyprus Securities and Exchange Commission (CySEC), the Komisja Nadzoru Finansowego (KNF) in Poland and the Comisión Nacional del Mercado de Valores (CNMV) in Spain.

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FCA: Financial Conduct Authority

The Financial Conduct Authority (FCA) is responsible for regulating the financial services industry in the United Kingdom. It is an independent entity and regulates over 58 000 businesses across the UK. Many of these companies are governed by the Prudential Regulation Authority (PRA), responsible for safety and risk control within the financial services sector. The FCA is widely regarded as the leading monetary regulatory authority in the world.

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The International Financial Services Commission (IFSC) is the legislative authority responsible for monitoring and regulating the financial sector in Belize. The IFSC is responsible for regulating all participants in the open financial market and exchanges and establishing and implementing financial regulation controls.

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The Cyprus Securities and Exchange Commission (CySEC) is an autonomous regulatory authority in Cyprus responsible for monitoring and directing fair practice in the investment services market and transactions in convertible security transactions in the Republic of Cyprus and the mutual investment and asset management sector.

The Komisja Nadzoru Finansowego (KNF/Financial Supervision Authority) is the financial regulatory authority in Poland. It is an independent entity and is responsible for the supervision of the Polish financial market, which includes oversight over banking, capital markets, insurance, pension schemes, and electronic money institutions.

The Comisión Nacional del Mercado de Valores (CMVA/National Securities Market Commission) is the government agency responsible for regulating the securities markets in Spain. The Commission is an independent body that the Ministry of Economy mandates to ensure the transparency of Spanish securities, the correct pricing and the protection of traders and investors.

Is XTB regulated in South Africa?

No, the XTB Group is not regulated in South Africa by the Financial Sector Conduct Authority (FSCA).

Is XTB legit?

Yes, the XTB Group is a legitimate forex and CFDs broker and electronic trading platform. XTB is a trademark of XTB Group. The forex broker was established in 2002 and is licensed and regulated by five authorities in Europe. XTB is well-established, is regulatory compliant and has a good reputation in the global financial markets. XTB is a safe and reliable broker for forex traders in Africa.

What type of broker is XTB?

XTB is a Market Maker (MM) broker and offers STP trading accounts.

A Market Maker buys and sells assets on the financial markets and quotes bid and ask prices on an electronic trading platform. Market Makers make money from the spreads. The majority of brokers are Market Makers and provide convenient and simple access to a wide variety of financial assets.

Is XTB a good broker?

In terms of security, state-of-the-art trading platforms, research and education, XTB is rated highly as a trusted retail broker and is regarded as a safe and reliable broker for forex traders in Africa.

XTB security

XTB is regulatory compliant and regarded as safe to use by forex traders in Africa. XTB follows strict regulatory guidelines for trader and investor protection and has implemented industry protocol to secure your money and information.

Regulated broker

XTB is licensed and regulated by five authorities in Europe.

Segregated accounts

XTB keeps client funds in a separate account which a leading bank holds. XTB cannot access the client’s funds to pay for company expenses or liabilities. Your funds are held in ring-fenced accounts separate from XTB’s financial accounts.

FSCS cover

Your funds are protected by the Financial Services Compensation Scheme (FSCS), up to £85 000 per eligible person in the unlikely event of XTB being declared insolvent.

Negative Balance Protection

XTB provides Negative Balance Protection for its clients. XTB will automatically top up the balance to 0, and clients don’t pay anything if market volatility prevents them from keeping a positive balance on their trading account.

Two-step authentication

XTB requires two-step authentication to enhance your trading platform’s security and protect your deposits and personal information from hackers using SMS and backup codes.

Know Your Customer (KYC) checks

XTB is required by law to collect and verify certain personal information and execute Know Your Customer (KYC) checks.

XTB trading platforms

XTB clients trade financial assets through an award-winning proprietary trading platform called xStation 5. The trading platform is available as a mobile app. xStation 5 is easy to use and navigate and offers all the functionality you need to trade forex and CFDs.

XTB research and education

XTB publishes up-to-date market analytics and educational material for beginner, intermediate and advanced forex traders.

Market analysis

Market News, Market Calendar and Market Sentiment

Education

Trading Academy, video tutorials, how-to-trade courses, articles and YouTube videos on the XTB website.

XTB Trading Academy is a free online education port dedicated to improving its clients’ trading skills.

What products does XTB offer?

XTB is a multi-asset forex and CFDs broker. Clients use the xStation 5 trading platform to trade currency pairs, commodities, indices, cryptocurrencies, stock CFDs and ETF CFDs.

Forex 48 currency pairs
Indices Over 20 indices inc. US100, S&P500, UK100
Commodities Trade popular commodities inc. gold, silver, oil
Cryptocurrencies CFDs on Bitcoin CASH, Bitcoin, Ripple, Litecoin, Ethereum
Stocks CFDs on more than 2100 equities inc. Apple, Amazon, Facebook, Netflix
ETF CDFs on a basket of securities that tracks an underlying index

Does XTB offer social/copy trading?

No, XTB does not offer copy (social) trading.

Does XTB have Nasdaq?

Yes, XTB offers NASDAQ-100 (US100). US100 is traded as a CFD on the xStation 5 trading platform. The US100 assigns a capitalisation-weighted index containing 100 of the largest publicly traded non-financial businesses on the Nasdaq composite index. The US100 is one of the most significant large-cap growth indexes in the world.

What awards has XTB received recently?

XTB is an award-winning broker in Europe. Its recent accolades include:

  • Best Broker House in Europe
  • Best CFDs Trading Provider, M&A Global Awards 2018
  • Best Financial Educator, World Finance Exchange and Brokers

How to trade forex with XTB

Traders and investors cannot directly access the global forex market. They must trade through a trading platform hosted by a regulated forex and CFDs broker.

To start trading the financial markets with XTB, you must register with the broker and follow the easy steps to verify your identity and set up a trading account. Complete a simple online form and get instant access to the trading platform while XTB confirms your details.

Deposit funds into your trading account when your account has been approved and start trading.

How to open a forex trading account with XTB

To open a live forex trading account with XTB, follow the simple steps below:

  1. Open the official website for XTB
  2. Select CREATE ACCOUNT
  3. Provide personal information to validate your identity
  4. Set up xStation 5
  5. Deposit funds
  6. Start trading with XTB when your account has been verified and opened

What types of accounts does XTB offer?

XTB offers three types of live trading accounts: Standard, Pro and Islamic Swap-Free.

Standard account

Min deposit N/A
Spread 0.5
Commission Zero: forex indices, commodities, crypto

From 0.08% per lot: stock and ETF CFDs

Leverage 500:1
Execution Market

Pro account

Min deposit N/A
Spread 0.28
Commission From 3.00 GBP per lot: forex indices, comm, crypto

From 0.08% per lot: stock and ETF CFDs

From 3.00 GBP: cryptocurrencies

Leverage 30:1
Execution Market

Swap Free

Min deposit N/A
Spread 0.7
Commission From $10 per lot: forex indices, commodities, crypto

Swap-free: stock and ETF CFDs

Leverage 500:1
Execution Market

Does XTB offer a free demo account?

Yes, XTB offers a free demo account on the xStation 5 trading platforms.

Clients can register and sign up for a free demo account which is instantly available to start trading virtual (fake) money. You can trade forex in real-time under actual market conditions but with zero risks of losing real money. Once beginner traders learn how to trade on a free demo account, they are ready to open a live trading account.

Does XTB offer an Islamic account?

Yes, XTB offers an Islamic swap-free live account to clients of the Muslim faith under Shariah Law.

Deposits and withdrawals

How to deposit money into an XTB trading account

Deposit money into your XTB account in 3 steps:

  • log in to Client Office
  • select Deposits
  • select trading account and payment method

Payment methods include:

  • credit or debit cards
  • bank transfer
  • e-Wallets such as Skrill, Neteller, PaySafe

XTB does not accept third-party payments. All funds deposited into an XTB trading account must have the same name as the trading account.

Does XTB charge a deposit fee?

No, XTB does not charge a deposit fee for bank transfers and credit/debit cards.

Deposits from e-Wallets are subject to a fee of up to 2% depending on the source.

XTB does not cover any exchange rates charged if you deposit funds in a currency different from the base currency of your account.

How to withdraw money from an XTB account

To withdraw funds from your account:

  • log in to Client Office
  • Click on the Deposit/Withdrawal tab
  • select the trading account you wish to withdraw funds from and enter the amount

XTB will only process withdrawals to a bank account in the client’s name. XTB will not send your funds to a third-party bank account.

How many days do XTB withdrawals take?

Funds are transferred to you as soon the XTB Secure Client Portal processes the Withdrawal request. On average, XTB processes withdrawal requests in one business day. The length of time it takes to reflect in your bank account depends on the method of withdrawal.

What does XTB charge to withdrawal funds?

XTB does not charge a fee for credit and debit cards or bank transfers as long as the withdrawal is over £60, €80 or $100.

Commission and spreads

XTB commission and spreads depend on the type of account you choose.

Standard Spread up to 0.5 pips Zero commission, trading cost built into the spread
Pro Spread up to 0.28 pips From 3.00 GBP per lot: forex indices, comm, crypto

From 0.08% per lot: stock and ETF CFDs

From 3.00 GBP: cryptocurrencies

Swap Free Spread up to 0.7 pips From $10 per lot: forex indices, commodities, crypto

Swap-free: stock and ETF CFDs

What is the minimum deposit for an XTB live trading account?

XTB does not specify a minimum deposit for each account. You can open a live account and start trading from any deposit. The only limitation is the minimum transaction volume and minimum margin deposit required to open a position.

FAQs: XTB

Does XTB have a Welcome Bonus?

Yes, XTB offers a Welcome Bonus to new non-EU/UK clients. It is against regulations to provide cash-based incentives to retail clients in the European Zone (UK/EU).

For Non-EU/UK clients, 50% of your first deposit is added to your XTB trading account if you trade a minimum amount of lots (15% of your first deposit amount) within 60 days of opening your account. Your first deposit has to be at least $US 100 or the equivalent in Euro or Pounds.

XTB does not offer the Welcome Bonus to every client; you need to apply for it.

Can I start trading with no money in my live XTB account?

XTB does not specify an initial deposit amount. You can open a live account and start trading with any deposit. The only limitation is the minimum transaction volume and the required minimum margin deposit.

What leverage does XTB offer?

XTB offers maximum leverage up to 500:1 on the Standard and Swap Free trading accounts on the xStation 5 trading platform.

Does XTB offer a demo account for forex traders?

Yes, XTB offers a free demo account for beginner forex traders. A demo trading account is funded with virtual money but provides all the features of a live account. It’s the perfect account for beginner forex traders to improve their trading skills before moving onto a live forex account.

Does XTB have a mobile app for forex trading?

Yes, XTB offers an easy-to-use mobile app for the xStation 5 trading platform.

Does XTB publish an Economic Calendar?

Yes, XTB publishes an Economic Calendar. It’s referred to as the Market Calendar.

Where is XTB based?

XTB headquarters are based in Warsaw, Poland.

XTB also has a regional office in London, United Kingdom.

Who is the CEO of XTB?

The CEO of XTB is Omar Arnaout.

Does XTB offer online support?

Yes, XTB offers multi-lingual online Customer Support, available 24/7 via Live Chat on their website. You can also contact XTB Customer Services via email or telephone.

Who can I speak to at XTB for help?

XTB International provides dedicated 27/5 Customer Service supported by Live Chat, email or telephone.

Live Chat XTB

Office +48 22 201 9550

24/5 support +48 22 201 9560/9960

Email sales_int@xtb.com

FOREX TRADING AFRICA DISCLAIMER

Forex and CFDs are complex instruments, and trading these instruments come with a high-risk warning. Trading forex and CFDs involves a high risk of losing money rapidly due to leverage and margin. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers and financial instruments and provides information to help traders and investors make better decisions when trading on global markets. The information is published to help improve your knowledge and understanding of international multi-asset trading and market participants.

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