XTB Forex Broker

Quick XTB Review SummaryFounded in 1995Registered inUKRegulated byCySEC, FCATrading Instruments6,898, stocks, ETFs, forex, indices, commoditiesDemo Account✅Min Deposit£0LeverageUp to 1:500EUR/USD SpreadFloating around 1.0 pipsTrading PlatformMobile, Desktop, TabletPayment MethodxStation5 (Mobile, Desktop, Tablet)Deposit Fee❌Withdrawal FeeFree for withdrawal above 50 USD/EUR/GBP5 USD/EUR/GBP for withdrawal below 50 USD/EUR/GBPInactivity FeeA monthly fee of 10 GBP will be charged if no purchase or sale transaction within 365 daysCustomer Support24/5 live chatTel: +44 2036953086Email: uksales@xtb.comXTB Information XTB is a UK registered online forex and CFD broker that is regulated by the FCA and CYSEC. The company offers trading in 6,898 financial instruments including stocks, ETFs, forex, indices, and commodities with leverage up to 1:500, spread from 0.5 pips and zero commissions for CFD trading via Mobile, Desktop, and Tablet platforms.Pros and Cons of XTB Pros:Regulated by CySEC and FCACommission-free tradingNo minimum deposit requirementRich educational resources including educational articles, market analysis, aneBooks Cons:Only offers a standard account typeWithdrawal below 50 USD/EUR/GBP will be charged a fee of 5 USD/EUR/GBPA monthly fee of 10 GBP will be charged if no purchase or sale transaction within 365 daysCustomer support is not available 24/7Is XTB Legit? Yes. XTB is currently regulated by Cyprus Securities and Exchange Commission (CySEC) and Financial Conduct Authority (FCA).Regulated CountryRegulatorRegulated EntityLicense TypeLicense No.CySECXTB LtdMarket Making (MM)169/12FCAXTB LimitedStraight Through Processing (STP)522157Market Instruments XTB offer 6,898 tradable instruments, including stocks, ETFs, forex, indices, and commodities. This presents a great opportunity for traders to diversify their portfolio and access multiple markets all within one platform.Asset ClassSupportedCFDs✔Stocks✔ETFs✔Forex✔Indices✔Commodities✔Cryprocurrencies❌Bonds❌Options❌Account Type XTB only offers a single standard account type, and no minimum deposit requirement. There are no fees for account opening and maintenance, while 0.5% for currency conversion.Leverage XTB offers a maximum leverage of up to 1:500. However, traders need to be aware that high leverage also carries a higher risk of substantial losses, and should only be used by experienced traders who have a good understanding of risk management strategies.Spreads and Commissions XTB offers spread from 0.5 pips. Specifically, spread on the EUR/USD pair is floating around 1.0 pips. As for commissions, there is no commission for trading CFDs, while there may be a commission charged for stocks and ETFs investing. You can find detailed info in the table below:Commission for trading CFDs❌Stocks and ETFs investing commissionFor monthly turnover equivalent up to 100, 000 EUR❌After that0.2%, min 10 GBPTrading Platform XTB only offers its proprietary platform, available on Mobile, Desktop, and Tablet devices. It does not support any third-party trading platforms, such as the industry-leading MT4 and MT5, which could be a disadvantage for some traders.Trading PlatformSupported Available Devices Suitable forProprietary platform✔Mobile, Desktop, Tablet/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal XTB accepts payments via MasterCard, Maestro, Visa, Bank transfer. The accepted currencies are USD, EUR, and GBP. It does not charge any fees for deposits and process them quickly. Withdrawal above 50 USD/EUR/GBP is free of charge, while withdrawal below 50 USD/EUR/GBP will be charged a fee of 5 USD/EUR/GBP. As for the withdrawal processing time, withdrawal before 1 PM can be processed on the same business day, while withdrawal after 1 PM will be processed on the next business day.Conclusion Overall, XTB is a well-regulated and reputable forex broker with many years of experience in the industry. The company offers a wide range of tradable assets, competitive spreads, and user-friendly trading platforms with advanced features. The educational resources provided by XTB are also a valuable asset for both novice and experienced traders. However, the limited account options and high withdrawal fees for small amounts may be a disadvantage for some traders. Overall, XTB is a solid choice for traders looking for a regulated and reliable forex broker.