XTB

XTB Forex

  • Name :XTB Forex
  • Website :www.xtb.com
  • Established :2010
  • Regulation :FCA, AMF, ACPR, KNF
  • Sign Up: OPEN ACCOUNT (Capital is at risk)
  • U.S. Clients Allowed :No

XTB, founded in 2002, is a Forex and CFD broker domiciled in London, UK. XTB Limited is regulated and authorized by UK Financial Conduct Authority; funds are protected by Financial Services Compensation Scheme (FSCS). XTB Group is one of the top 10 Forex and CFD brokers in the EU according to Forex Magnates Industry Quarterly Report and is the recipient of a number of other prestigious European awards.

Accounts

The accounts at XTB are divided into three types. The PRO (STP) has market execution and a market spread. There is no minimum deposit of minimum lot size and a commission is charged on each trade. The Standard (Float) account has instant execution and a floating spread. There is a micro lot requirement of 0.01 and no commission is charged.  The Basic (Fixed) account has instant execution and a fixed spread. Here too there is a micro lot minimum and no commission. Leverage for each account is 200:1 and a clear listing of target spreads is posted alongside each category of asset.

Traders can trade a wide range of assets including 50 major, minor and exotic currency pairs, over 20 Asian, American, and European stock indices, more than 20 precious and base Metals, energy and agriculture commodities, 200 American, English, Czech, French, German, Italian, Portuguese and Spanish equities, and a wide range of ETFs.

Features

Some instruments offered by XTB are based on futures contracts and do not have a specific maturity so they must be periodically rolled over. The advantage of this operation is that the client can keep open positions for much longer than the life of the underlying contract. A rollover allows the client to keep a position on given instrument and remain open when switching to another contract. There are some fees attached to this process.

Trading Platforms

Unlike many other Forex brokers, XTB offers a choice of three different trading platforms in addition to their mobile platform. The popular MT4 platform is one of the main choices but the other two, the xStation and the xAPI offer some interesting features not available on the MetaTrader4 platform.

All of the platforms can be downloaded to Mac and Windows and are available on most mobile devices.

Each platform is accompanied by an instructional video tutorial on how to maximize the use of the platform features.

The XTB website is available in over 10 languages but when doing this XTB review, I clicked on a language other than English and noticed that the site is not exactly the same. This is due to the fact that the list, which appears as a dropdown, actually designates a location rather than a language.

Prohibited countries

USA (& US dependants i.e. US Virgin Island/Minor outlying Islands),
Australia, New Zealand, Canada, Japan, South Korea, Singapore,
Hong Kong, Mauritius, Israel, Turkey, India, Pakistan, Venezuela ,
Bosnia and Herzegovina, Ethiopia, Uganda, Cuba, Syria, Iraq, Iran,
Yemen, Afghanistan, Laos, North Korea, Guyana, Vanuatu,
Mozambique, Democratic Republic of Congo, Libya, Macao,
Singapore, Brazil, Russia