Trading with XTB: a brief review of the high-ranked Forex and FCD broker.

XTB (X-Trade Brokers) is one of the most preferred brokers which ranks high in yearly trading reports. It has been operating since 2002 when it was registered in Belize, Central America. It is regulated out by several international authorities including:

  • FCA 

  • IFSC 

  • CMB 

  • CNMV

  • KNF 

  • CySEC

The company provides brokerage services through the official website. XTB is widely popular due to low fees, convenient and quick account opening and easy withdrawal. Despite occasional negative reviews, in general, the broker proves its high reputation. 

Key features

  • The minimum deposit is 250 US Dollars. However, for some countries, the lower limit does not exist. To clear up the actual sum for your country, you can consult the customer service. 

  • No commission is charged for the withdrawal.

  • Unlike many other brokers, XTB does not charge any fees in case the account stays inactive for a long time.

  • It takes only a one-day time to activate the account.

  • Demo-account option available.

  • The company’s trading tools include FCD, Forex, Cryptocurrency, Currency pairs, etc 

  • Good customer service.

Among the most frequent advantages pointed out by the service users are low trading fees, the easiness of withdrawal and account-making, and effective customer support.

Opening an account 

It takes on average thirty minutes to get through with filling out the form and submitting the required documentation. Having submitted the data, you only need to wait for up to 24 hours until the account is activated. In some cases, you can be requested for more information or additional scans. The steps to open a new account are:

  1. Entering the e-mail and providing the country of the location;

  2. Providing your profiling information like birthdate, residential address, and phone number;

  3. Selecting a desired account type - standard or pro; 

  4. Choosing one of the enlisted trading platforms and the currency of your account;

  5. Answering several additional questions regarding your experience in trade, employment, financial data etc.;

  6. Waiting for the verification. 

Education

Another strong point that is highly appreciated by XTB clients is its education center. All users who possess a verified account can benefit from this goldmine of information. It includes:

  • The knowledgebase containing valuable data for beginners and intermediate traders. 

  • Online webinars held by the company’s representatives. 

  • Trading academy that can be especially helpful for more advanced traders.

  • E-books and articles followed by tests that allow identifying weak points in your knowledge.

  • Informative videos.

Customer support

According to the reviews, the company provides sufficient explanation on any topic. You can contact the broker in one of the following ways:

- via e-mail, 

- by phone, 

- by submitting an online request form, 

- by using the live chat window. 

Mind that the customer service does not operate 7/24, so you should arrange your activity accordingly. Another point is the languages of the support: XTB “speaks” English, Spanish and Chinese. As for the site interface, apart from the above-mentioned languages, there is also the Italian version.

Pros and cons

The “X-Trade brokers” company is considered to be safe and convenient. However, their clients claim that sometimes they come across obstacles when trying to get registered or when providing the requested documentation. Also, experienced traders underline that this broker is a perfect option if you deal with Forex and FCD due to the low fees, while, unfortunately, other trading tools are not charged in the same way.

The list below includes advantages and disadvantages based on customer feedback: 

Pros:

  • Safety: the regulation is carried out by a number of financial authorities

  • A vast choice of trading tools

  • A high-quality educational database

  • Representatives in many countries of the world

  • Free withdrawal

  • Low spreads

  • Discount system for highly-active traders

  • Operation on most iOS and Android devices

  • Online messenger

Cons:

  • Short demo period - 30 days

  • Complicated registration procedure

  • Doesn’t include some popular electronic wallets

  • Lack of bonus programs

Every year the broker brings new features and modifications to the website. We recommend you to follow up with the changes by checking out the internet page and the updated conditions. The aim of this article is to analyze and sum up clients’ feedback found in the reviews on the Web. Please make sure you are well aware of the risks connected with the trading. Mind that there is no guarantee of successful results. Our resource sets the objective to provide sufficient information on the topic, however, it should in no way be considered a call for action. We are not responsible for the reliability of the provided information.


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