Based in Poland, XTB Online Trading was founded in 2002 previously known as X-trade. They are a leading European broker company offering multiple markets including forex, shares, indices, commodities and cryptocurrencies. Known to be the best brokers for low cost, they also have a trusted reputation for providing great customer service. XTB now offers their web-based flagship platform xStation 5 for web and mobile applications.
How to Open an Account?
Fill out an online form and get instant access to their trading platforms while they verify the details.
It may ask you to upload additional documents to verify your identity (proof of identity, bank statement, etc.) via your XTB Client Office.
Once the application has been approved, one can deposit funds through their secure online process and start trading!
City Index is directed by top-tier authorities, for instance it is a primary regulator of the FCA under the flagship of Gain Capital, its parent organization, who is also recognized as a prominent member of the New York Stock Exchange. Also including the ASIC and The Monetary Authority of Singapore (MAS)
City Index works under a few legal entities and laws around the world; which of these will serve you relies upon the country you preside in. The investment protection account sum you're qualified for relies upon the country from where you are trading and investing from.
Expense & Charges
XTB advertise minimum cost for FX spreads for its different accounts. They offer two types of accounts Standard and Pro. Their expenses sit right with the overall industry trend.
XTB's "Standard" account quotes a minimum spread of 0.5, while its "Pro" account offers a minimum spread of 0.1. There is, however, a commission of $3.50/lot added for trades on Pro accounts. According to XTB, "the average spread on EUR/USD for the last quarter was 0.43 (Pro accounts) and 1.02 (Standard accounts)." The 0.43 is the average spread before commission was added, so the actual average EUR/USD spread for Pro accounts would have been 0.78, which is still is among the best in the online forex brokerage industry. XTB charges commissions for cryptocurrency (Pro) and stock CFD (Standard and Pro) transactions, as well.
They also charge inactivity fees according to their terms and conditions which is “€10 if there is no opening or closing of the position on the Customer’s account within the last 365 days and no cash deposit within the last 90 days." Moreover, they charge withdrawal fees if there is less than a specific amount of cash in the clients account.
XTB is widely known for its own flagship trading platform xStation 5 which impressively offers strong tools and is easy to use because of its simple but appealing design. It offers great experience for all kinds of devices including web, mobile, tablet, apple and android. On this platform 29 drawing tools and 37 technical indicators are available for the users.
Apart from that they used to offer only MT4 is available because xStation 5 does not support automated trading, however it is costlier due to high spreads and following November 2020 new clients cannot open accounts on MT4 platform.
XTB provides great educational material for the users. They are up to mark with industry standards in terms of trading education.
They have divided their courses on the basis of learning levels; basic, intermediate, expert and premium. All the courses cover major topics regarding the trading industry. Only first two courses are available for website users, premium category requires xStation platform and sign up for demo/live account first. Their courses have both written articles and videos along with quizzes for beginners.
XTB is well known for providing best customer care which in this day and age is very crucial to survive any service providing industry. They offer all basic contact options like email, local phone support 24/5 and live chat.
In addition to that, clients are assisted by an account manager to solve their relative problems. Their phone support is very responsive along with that they have customer support available in several languages which expands their reach to a much larger client base.