Unique Features of Trading with XTB
While XTB offers fewer markets (1,500) to trade compared to its UK counterparts such as City Index or IG, it does have an advantage in terms of its Cryptocurrency offering that puts it on a par with eToro. Traders can choose between 9 individual Cryptos or 16 Crypto ‘crosses’ or pairs, where you can choose long or short pairs such as ETH / BTC or NEO / BTC. So, if you have an opinion that one Crypto is better than another, you can now put that view into practice with XTB.
While XTB was one of the first brokers in the CFD space to initially offer Cryptocurrencies, launching CFDs in Bitcoin, Ethereum, Ripple, Litecoin and Dash in July 2017 that received them as recipients of several Crypto-based prizes the year past. Its renewed offer means a significant step when competing with Binance as the central axis of the CFD trade of Cryptocurrency.
Apart from its Crypto markets, XTB also offers a fast transaction execution service in more than 50 currency pairs with an available leverage of up to 30: 1. Trading differentials appear to be especially competitive in this broker, although they depend on the type of commercial account opened by the client. XTB offers two types of accounts: Standard (floating spreads) and Pro (STP), with a commission of £ 5.00 per batch (including open and close). As an example, target floating spreads on the EUR / USD currency pair are 0.9 pip wide for a Standard account and 0.3 pip wide for a Pro account.
A merchant can also open a demo account to test the broker’s award-winning trading platform, which was chosen as the “Best Trading Platform 2016” for the Online Personal Wealth Awards. The platform has many features, including a map of opinions, live audio comments, a video tutorial section and real-time performance statistics that help you identify weaknesses in your business approach. Support for the popular MetaTrader trading platform and mobile commerce applications is also available.
As of August 1st 2018 new ESMA regulations will affect leverage:
- 1:30 for major currency pairs
- 1:20 for non-major currency pairs, gold and major indices
- 1:10 for commodities other than gold and non-major equity indices
- 1:5 for individual equities and other reference values
- 1:2 for cryptocurrencies
XTB is suitable for almost all types of forex operators offering support for the industry standard MetaTrader 4 transaction platform, as well as providing applications for mobile commerce in the most popular mobile devices.
These professional-quality e-commerce platforms provide forex traders with access to an operations execution facility in more than 50 currency pairs, as well as a variety of other trading instruments, including stock indexes, ETFs and commodities.
In addition, the trading platforms supported by the broker offer different analytical tools, technical indicators and real-time charts. Support for web-based commerce is also available through this broker.
In addition to MetaTrader, XTB also offers its own proprietary trading platform known as xStation. This fully customizable platform offers advanced graphics, skills and prices in real time.
Deposits and Withdrawals
The minimum initial deposit requirement to open an account with XTB is $250, €250 or £250. After the first deposit, there is no minimum deposit amount. While XTB offers maximum leverage of 30:1 in line with ESMA regulations, professional clients can utilise leverage up to 200:1 – as can traders who reside outside the EU (XTB International). Always remember that the higher the leverage, the higher the potential risk.
Deposits can be made free of charge through a bank transfer in US Dollars, Euros, British Pounds or Hungarian Florins. MasterCard, Visa and Maestro credit cards can be used with deposits in Sterling and Euros free of charge, while US Dollar deposits on credit cards are charged at the rate of 2% of the deposited amount.
Deposits made through e-wallets are accepted in Euros, US Dollars, Sterling and Hungarian Florins but please be aware that PayPal and Paysafe (formerly Skrill) charge 2% of the deposited amount
Withdrawals can be processed the same day if the request is made before 1pm GMT. If the request is made after 1pm, it is processed on the next business day. This applies to GBP, EUR and Domestic HUF withdrawals.
The XTB Academy of Commerce offers new traders a wide range of features and tools aimed at helping novices to trade successfully. The academy offers trade courses, video tutorials and articles on commerce designed to improve the skills of the operator at all levels.
In addition to introductory material on trade in the foreign exchange market and technical and fundamental analysis, the XTB Academy of Commerce offers tutorials on MT4 and xStation, the company-owned trading platform. Other material covered in the academy includes an introduction to the CFD trade and risk management.
XTB also offers a wide range of commercial packages that are free for both non-customers and customers, including a daily transaction strategy guide, a complete library of traders for beginners and an event-based analysis such as how to exchange Brexit .
In addition to English, XTB has a website in several languages and also offers customer support in a variety of languages. Access to the customer assistance function can be done by email, telephone and live chat. XTB offers local telephone support in 17 countries, including most of the EU and Eastern European nations
As a regulated broker, the FCA’s rules and regulations have the company hold all client money in segregated accounts which are ring fenced apart from the company’s funds.
Access to personal accounts is done through a password and username unique to each customer and stored on secure servers. Payment details are encrypted through Ingrain devices providing tamper-proof protection of cryptographic keys that ensure encrypted data is kept secure and private.
Client funds are protected up to £50,000 through the FCA’s Financial Services Compensation Scheme or FSCS in the unlikely event of XTB’s insolvency.
In addition to its Trading Academy and XTB’s security features, XTB offers clients a market news and analysis section on both its website and the xStation platform. The feature gives traders a large selection of market relevant news that could present excellent trading opportunities.
Also, XTB offers live market commentary and a comprehensive economic calendar covering 48 spot forex currency pairs. Furthermore, the company’s CFD trading feature covers over 20 indices from around the world, offering low spreads and high liquidity.
XTB is an award winning broker that has been widely recognised within the forex trading industry for its fast deal execution service. The broker offers competitive dealing spreads, a wide variety of trading instruments, and minimal order slippage that should please most forex traders.
In addition, the broker is regulated by the FCA and other watchdog agencies, as well as segregation of funds. XTB not only offers its own fully functional trading platform xStation, but it also provides strong support for Metatrader and mobile trading.
Given its different account types designed to suit all levels of trader experience and interest, XTB seems a very suitable choice for a forex trading partner. You can try out this competitive forex broker’s trading platform and its customer support services at no cost by opening a demo account with them today.
Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.