XTB Broker Review
You have to sign up with a broker to start your trading career. The hardest part of it all is to pick a broker that meets all your requirements. You have to understand that different people have different trading styles. A broker that’s right for your friend might not be the best for you. You have to look for traders who focus equally on new and experienced traders. How will you know that? You just look at the features of their trading platforms, the account types they have, and the various promotions to find out how new trader friendly the broker is.
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XTB is one of the brokers that make life easier for new traders by simplifying everything. You can notice how easy XTB makes things for its traders from its trading platform features, the types of accounts available, and the help that traders get during their trading career. Let’s know about the broker in detail in this review.
Getting to Know XTB as a Broker
It is a broker that claims that it does not treat its traders as numbers. Of course, you have to look at a lot of things to agree or disagree with that statement. One thing that you can say for sure is that XTB understands trading in its depths. That’s because the company has been around for 14 years. Over the years, the company has expanded at an exponential rate, which is clear from the fact that XTB’s offices are now in 10 different countries of the world. There is a sense of safety and security that every trader feels when he/she signs up with XTB. The biggest reason behind that sense of peace is the proper regulation of the broker.
You don’t want to sign up with a broker that’s not regulated and licensed to provide brokerage services. When it comes to XTB, the broker is regulated by not only regional but some of the world’s biggest regulating authorities including IFSC, CySec, KNF, and FCA. Regulation shows the seriousness of a broker with not only its traders but the profession as a whole. You can expect fairness, transparency, and honest financial conduct from a broker that’s accountable to a regulatory authority for whatever it does. There is no shortage of brokers that make big claims but are not even registered to provide their services.
All the rules and regulations that guarantee your safety as a trader are in place when you sign up with XTB. The customer support provided by the broker has been given a five-star rating by customers online. Furthermore, the money that you deposit in your trader account goes in a completely different account. The broker does not mix your money with its own money because in accordance with fair financial policies. The technology that XTB gives you for trading has earned many awards in the past. In short, XTB stands as one of the top brokers of the world today for taking proper care of the most important stuff.
Enjoy the Best Trading Platforms
From a broker like XTB, you cannot expect anything mediocre or below average. First of all, you will be trading on MT4, a platform that the trading world knows as the best. Many platforms have tried to take the place of MT4 but none has been able to gain the popularity and support that MT4 has received in the past many years. While others things are great too, MT4 is known as being one of the most straightforward platforms for trading because of its simplicity. If you are new to trading, you will learn to use this platform within minutes.
However, that’s not the only way you will be trading with XTB. XTB remains one of the very few online brokers that have their own trading platforms as well. Familiarize yourself with another revolutionary trading platform called xStation 5. This software comes from the broker. You can already expect the best from this platform because it has been developed by people who are in the industry and have served it for many years. Not to mention, some of the most well-known magazines and entities in the world have awarded it as the best trading platform in the world. The two big reasons you will love it for are ease of use and fast speeds.
Fast speeds matter the most in a platform because of how sensitive time is for traders. Before you enter a trade, you want the latest and most real-time data of the asset in front of you. However, slow platforms will often delay the updating process and the price you see on the screen is several minutes or even hours late. In addition to that, they are slow to execute your trades as well. On the other hand, xStation 5 is one of the fastest trading platforms you can take advantage of today and that quality has won it many awards as well.
From trading calculator to analytics that are meant for expert traders, this platform gives you everything you need for your trading career. It also gives you trader statistics so you know where you are standing as a trader at any given moment. You can also close bulk orders when you want and complete your trades after looking at the most comprehensive and advanced charts. The most unique feature of this platform is Trader’s Talk. It is a feature of this platform that lets you know about the market sentiment by listening directly to the traders in the market.
Trade How You Please
There should be no restriction on how you trade on a trading platform. However, you will notice after researching a few online brokers that some of them do not have the best of assets for you to trade. They do have assets from a variety of asset classes, but their lists of instruments are very small. You are often looking for an asset that you are comfortable with but you can’t find one. On the other hand, you will be more than pleased when you have opened an account with XTB. There are plenty of options available for you to trade in every asset class.
If you are interested in trading currency pairs, you will find nearly 50 unique pairs from all parts of the world. Pick the pair that you think is the safest or can yield the biggest profits for you. While trading these currencies, you can enjoy varying spreads and leverages as well. The maximum leverage you can take advantage of while trading Forex on XTB is 1:200. With most other brokers, you rarely have more than 20 indices. However, XTB gives you access to the best in the world in this category as well and you can trade from up to 35 indices.
There is no shortage of assets when it comes to commodities as well. You must have seen gold, silver, and platinum on other brokers as well. However, you rarely find copper and aluminum for trading, but you have them both available on XTB. You can trade coffee, cocoa, NATGAS, and corn as well. You will be hard pressed to find a broker with as many stocks as XTB has on its platform. Just to be precise, you can trade from a huge list of more than 1600 stocks including the biggest tech companies of the world as well.
The best part of the asset index is the cryptocurrencies. There are still many brokers that have not given their traders access to cryptocurrency CFDs because they want to play safe. However, XTB has brought the best of the cryptocurrency market to its traders. First of all, you have 25 different cryptocurrencies that you can choose from. Secondly, you have huge leverages available on trading these cryptocurrencies. With some cryptocurrencies, you can benefit from a leverage of 1:5. The broker is also doing its best to keep the spreads as tight as possible with cryptocurrencies, which is quite a challenge.
Pick One from the Two Accounts
As stated in the title of the review, XTB remains a broker that likes to simplify things for its traders. When you go on other broker websites, you will see lots of account types. That’s a way for broker to on either of the provide many options to its traders. You won’t say that it is a bad thing. However, it is best if the broker simplifies thing for the traders so they can focus more on trading rather than worrying about which account to pick. When you sign up with XTB, you have to choose from two account types only: Standard and Pro.
Both the account types give you access to all the seven asset classes to trade. You have more than 1500 instruments that you can trade with either account. Account opening is completely free of cost. You have up to 1:200 leverage available regardless of the account type you choose. If you want to take advantage of the smallest spreads, you might want to go with the pro account with its spreads starting from 0.28. There is no restriction on the platform you choose for trading with either of the account. You don’t have to pay any commission on your trades if you pick the standard account.
When it comes to depositing funds in your account, you can use the bank wire option as well as the credit card option. The best thing is that you don’t have to pay any deposit fees on either of the deposit methods. You should keep in mind that the bank can charge you a fee for transferring money through the bank wire though. For credit cards, you can use Visa, Maestro and MasterCard options. You also have SafetyPay, PaySafe, and Skrill options available if you want to transfer the money using the internet. You will have to pay some fees when you use the e-wallet services for depositing funds in your account.
Learn before Trading
When you are new to an art, you have to learn it before you can start experimenting. When you trade, you are putting your money on the line. That’s why, you cannot take any risks. You want to learn trading as much as possible before you deposit real funds in your account and put them in trading. There is a lot of training material available from XTB for the different types of traders that can join the platform. You will have to give it to XTB for organizing its training content in the most proper way possible. You have four different content levels to choose from with Basic being the most basic and Premium being the most advanced.
Another thing that makes XTB’s training material extremely useful is that it covers the trading platforms along with trading knowledge. So, in addition to learning how to trade, you will also learn how to make the most of the platform you pick to use.
XTB’s Customer Support
A company that does not fail in anything else cannot fail in customer support as well. When you land on the contact us page of the website, you find the names of more than a dozen countries and the phone numbers and email addresses that are specific to those countries. What that means is that someone who understands you best will be serving you whether you send an email or call the company. There are different phone numbers for different types of inquiries so you will receive the best response to your queries. There is also the live chat feature on the website. Click on this feature and talk to a representative from the company live.
From the website design to the features of the trading platforms, XTB proves that it knows how to simplify things for the traders. When you sign up with this broker, you don’t feel overwhelmed with things that you don’t need. Not to mention, there are some loyalty rewards and cashback offers available from the broker too. If you want to focus on trading while using one of the best trading platforms of the world, XTB is definitely a recommendable option.
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