XTB Quick reference
XTB is an online broker that specializes in the Forex, Crypto and CFD markets. It was registered in Belize, a popular offshore. It has been represented on the brokerage market for 15 years. XTB offers an individual approach to customers, training materials for both beginners and advanced traders, as well as its own xStation trading platform, which was awarded with thematic awards. XTB operates in 17 different countries and regions. Terms of trade are almost the same everywhere. The broker is regulated by many organizations, among them there are FCA (Great Britain), CySec (Cyprus), KNF (Poland), IFSC (Belize). The minimum deposit starts from 250 conventional units of one of the most popular currencies - the dollar, euro or pound sterling. The first division of the broker was opened in Warsaw.
Types of accounts
There are four types of accounts. A demo account allows you to test the platform without any obligation. A standard account provides access to more than 1,500 financial instruments, including Forex, commodities, cryptocurrencies, indices, CFDs on stocks and CFDs on ETFs. This type of account has market execution, leverage up to 1: 200, a minimum spread of 0.35 and a minimum order of 0.1 lot. There is negative balance protection and automatic trading. Account configuration and management is free for this type of account. As a trading platform, you can use both MT4 and xStation. A professional account has the same access to assets, but the minimum spread is 0.28, the maximum leverage is 1: 200. The minimum order size is 0.1 lot. This type of account also works with both xStation and MT4. An Islamic account is similar to a standard account. The only difference is that it does not have the option “trade cryptocurrency” and there are no swaps.
Opening a trading account with XTB is quite simple. First you need to fill out the online form, which can be found on all pages of the official website. Next, the broker checks your data. Depending on the region, you will need to download a special list of documents. While your data is being verified, you are already gaining access to the platforms for review. Once your application has been approved, you can deposit funds and start trading.
Conditions of trading
With XTB, traders can trade with spreads of up to 200: 1 or up to 0.3 pips. You can evaluate the transparency of a transaction at any time, since pips, spread and swap are indicated in each trading ticket. XTB also uses advanced trading technology that prevents requotes. It also reduces the risk that something will go wrong..
Each type of instrument has its own special trading conditions. If you open the “Market Analysis” section on the XTB website, there are special price tables there. You can specify the current price for each instrument, including the values for demand, supply, spread and percentage change. Click the “Tool Features” button under each table and you will see the information about all the tools of a particular category, because on this main page only 10-15 of each type of tool are displayed.
To deposit funds into your XTB account and start trading, simply log in and go to the "Deposits" section. There you just select your trading account, as well as a payment method. XTB offers many ways to deposit funds. Among them there are Bank Wire, VISA, MasterCard, PayPal, PaySafe Card, Skrill. Some of them have a commission, but in most cases additional payment is not required. Please note that if you deposit funds in XTB in a currency other than the currency of your bank, XTB will not pay for the exchange. Also in each region there are some features for depositing funds into the account. Clarify this point when opening an account.
Bank transfers are free of charge and are accepted in US dollars. In some cases, your bank may charge a transfer fee, although XTB will not charge you any additional fees. Bank transfers you make to XTB must come from the banks where you are registered. Your bank account name must be the same as your XTB account name. If it isn’t the same, you run the risk of wasting time, because the funds will be returned to the original bank account.
Withdrawal of funds
Withdrawing funds from the account is also quite simple. Open your personal account and select the account from which you would like to withdraw funds. Next, indicate the amount you want to withdraw. Remember that if your bank account, to which you want to withdraw funds, does not match the currency of your trading account, the broker converts the amount at its rate either at the time the bank receives the payment or at the time of the request.
As in the case of deposits, you can withdraw money only to a bank account, the name of which fully coincides with your broker account data. When withdrawing funds, XTB processes payments according to the SHA model, covering the full cost charged by the sending bank. Your bank may charge you additional fees. If you decide to withdraw less than $ 100, this will be accompanied by an additional commission of $ 30.
XTB is an international online broker with 15 years of experience. The broker has offices in more than 10 countries and provides customers with access to one and a half thousand financial instruments. Thanks to many years of conscientious work with customers from all over the world, XTB has established itself as a reliable broker with interesting trading conditions. However, there are those who consider the merits of XTB overrated.