Review of the company
XTB was founded in 2002, the abbreviation stands for X-Trade Brokers. The company has branches in 13 countries around the world, including Germany, United Kingdom, France, Poland, Turkey and France. The company offers a wide range of financial instruments. XTB International affiliate offers XTB Islamic accounts: No swaps, hidden costs or commissions. The XTB received licenses CySEC, IFSC, FCA, KNF, CNMV, CMB and MiFID to conduct business. The broker guarantees the transparency of trading process, security of data transfer, stores customers’ money in separate accounts.
The market sentiment, news and markets that are currently leading can be viewed in a special section with analytics on the official XTB website. There you can also find an economic calendar, which is a table where all events with a degree of influence on a particular asset are described in a compressed form. Ideal for fans of trade on the news and for a deeper study of the market.
The site offers several training courses for traders with different levels of training. Thus, even real masters will be able to improve. Success is known to be a road, not an end result. Therefore, no matter how you trade well, you cannot be a successful trader if you do not improve. Fortunately, a broker will help you significantly improve your skills.
For all traders, XTB uses a leverage of 1:30. This complies with the rules established by the regulator by the Financial Conduct Authority (FCA). However, there are exceptions to this rule. Members of a “chosen professional” club can take advantage of a maximum leverage of 1:200 despite very tough conditions. Traders are required to complete ten transactions per quarter or have an account of more than €500,000. In addition, they must prove that they have worked as a financial expert for more than one year. It is noteworthy that the actions of traders who are members of this club do not comply with some FCA conditions.
Methods of Payment
This broker provides its clients with the following payment methods: Bank Transfer, Credit/Debit cards (Mastercard, Maestro, Visa) and e-wallets (Paypal, Skrill, Neteller). Within three days, the broker withdraws funds. The broker charges a commission from PayPal and Skrill 2% of the deposit amount, and all others are free. Additionally, you will be glad to know that XTB does not charge an account inactivity fee.
XTB offers 2 account types: the Standard and the Pro Account. These accounts differ only in the fees: the Pro account generally has lower spreads, but has a different fees scheme. The standard account is the XTB commission-free account where all fees are included in the spread. Besides the way the commission is charged, there is no difference between the Standard and the Professional accounts. Additionally, XTB also offers a free 30-days demo account to try the platform with $100,000 virtual money and without any commitment.
XTB offers excellent customer support, their main goal is to build long-term relationships with their customers. The support service is open 24/5 and the service is fast and friendly. Each client receives a dedicated manager to solve any of the questions, which will give answers and indicate further instructions for profitable trading. Customer service also includes individual account management and CFD training.