www.banklesstimes.com

An Honest XTB Review in 2022

Last updated 16th May 2022
Disclosure
Visit site & Sign up
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

XTB is a highly regulated and trusted international CFD broker. It offers a wide range of financial products, including cryptocurrency and crypto CFDS, and a great variety of trading tools. XTB has low fees for most of its products as compared to its market competitors, however some of their product fees can be higher than average. Deposits and withdrawals are both free, it’s fast and straightforward to open an account, and its interface is appealing and user-friendly.

4/5 Star rating
Award-winning platform and services
Low commission from just 0.08%

What Can I Do on XTB?

Founded in 2002, XTB offers a platform through which to trade CFDS, stocks, cryptocurrencies and EFTs. Its headquarters are based in London and Warsaw and it’s fair to say that there are more features available for those who are based in Europe. On the whole, the platform is very international and offers a diverse and well designed platform to its users.

Here are some of XTB’s best features:

  • Provides a great range of advanced trading, research and educational tools

  • Stop-loss/trailing stop-loss to manage risks and maximize profits

  • A good range of financial products including; international stocks, CFDs, forex, cryptocurrencies, copy trading and US stocks

  • Competitive fees across the board

  • A well designed platform on desktop and mobile

  • Good international coverage and language choice

XTB Overview

💼 Provider Type:CFD Broker
💸 Minimum Deposit:$0
💰 Trading Fees:Varied
💰 Deposit Fees:$0
💰 Withdrawal Fees:$0
💰 Management Fees:$0
🔀 Minimum trade order0.01 lot
⌛ Withdrawal Timeframe:1 business day
#️⃣ Number of Cryptocurrencies Supported:9
#️⃣ Number of Crypto Pairs Supported:16
💱 Top supported Cryptocurrencies:BTC, ETH, XRP, LTC, EOS
📊 Leverage:1:2
📱 Native Mobile App:Yes
🖥️ Free Demo Account:Yes
🎧 Customer Support:Live chat, Phone, Email
✅ Verification required:KYC
📈 CFD AvailableYes
📊 Software:Website, web app, mobile app
⚽ Social Trading:No
✂️ Copy Trading:No
👮‍♂️ RegulatorsFCA, CySEC, KNF, CNMV of Spain, e DFSA, IFSC

Pros and Cons of Using XTB

Pros

No commissions on deposits and withdrawals means more value for your money
User-friendly interface along with technical trading opportunities
Numerous advanced trading tools enable you to make more informed decisions
Low forex CFD fees and some commission-free stocks/ETFs
Good reputation and robust international regulation

Cons

A small variety of coins compared to other platforms
Assets choice is good, but mostly only for CFDs
No automated trading

XTB Cryptocurrencies and Trading Options

What Cryptocurrencies Can You Trade on XTB?

XTB offers a good range of cryptocurrencies when compared to some brokers, but much less than some competing exchanges. It offers over 25 coins and tokens, including 9 individual coins and 16 pairs. As XTB is a broker, it also offers CFD trading on all 25 coins. With CFDs you will not own the asset itself, but instead a contract with XTB that pays rewards if a coin’s price increases but loses value if it decreases.

Here are the top five available cryptocurrencies on XTB:

  • Bitcoin (BTC) – BTC/USD, BTC/ETH, BTC/XRP

  • Ethereum (ETH) – ETH/USD, ETH/BTC, ETH/LTC

  • Litecoin (LTC) – LTC/BTC, LTC/ETH, LTC/USD

  • Ripple (XRP) – XRP/BTC, XRP/ETH, XRP, USD

  • EOS.IO (EOS) – EOS/ETH, EOS/BTC, EOS/USD

*Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Different Trading Options Offered by XTB

What you can trade with on XTB will be determined by your location. For example CFDs are not available in the UK. Most opportunities are in the form of CFDs, but some international and US stocks are offered as well as some cryptocurrencies.

What are CFDs?

Contracts For Difference are available for forex, commodities, stocks and indices. CFDs are only offered by brokers; essentially you are purchasing a contract with the brokerage itself that guarantees a return if the asset value increases, and a loss if the asset value decreases.

XTB offers all of its cryptocurrencies with CFDs, and just a small selection of individual cryptocurrencies like Bitcoin, Ethereum and Litecoin.

Can I Trade With Leverage on XTB?

Yes. XTB offers a margin of 50% with a 1:2 leverage spread on all of its cryptocurrencies.

*Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What Are the Spreads?

The platform is known to have cheap spreads, however the XTB cryptocurrency spreads vary from average to high depending on which coin you wish to trade.

Here are the five most important cryptocurrencies with their relevant spread costs:

  • Bitcoin – 1-1.5% market price

  • Ethereum – 2-2.5% market price

  • Litecoin – 2-2.5% market price

  • Ripple – 2-2.5% market price

  • EOS.IO – 1-1.5% market price

Fees, Limits, and Payment Options on XTB

What Are the Deposit and Withdrawal Fees, Limits, and Speeds?

Fees for trading cryptocurrency are generally low, but CFDs are notably higher. There are no withdrawal or deposit fees but there is a commission for CFD trading. Trade limits start at 0.01 per lot and tops out at 100 per lot.

Deposit Methods

XTB offers a wide range of deposit methods including:

  • Bank transfer

  • Credit/debit cards (may charge 1-2% fee)

  • PayPal (2% fee)

  • Paysafe

  • Skrill (2% fee)

  • Neteller

  • Paydoo

  • PayU

  • SafetyPay

  • ECOMMPAY

  • BlueCash

  • Blik

  • Sofort

XTB does not charge for deposits. There are no minimum deposits. KYC regulation does apply.

Withdrawal Methods

XTB only accepts bank transfer as a withdrawal method. There are no fees for big amounts, however smaller amounts can charge up to $20. The threshold for free withdrawals range from $50-$100 depending on where you are based.

Withdrawal speed should take approximately one business day.

How Much Are XTB’s Fees and Commissions?

XTB fees are relatively low when compared to its market competitors. Commissions on CFDs apply but are quite low, deposits and withdrawals have no fee for the most part (size dependant), and spreads are good on some coins.

We recommend checking the spreads before you make a trade as this will determine the value of your trade, this is usually the case with a broker. You can expect to pay a commission of around $3-5 per lot on cryptocurrency CFDs like Bitcoin.

XTB Trade Sizes and Limits

Trade sizes and limits are average when compared to industry competitors. They start at 0.01 per lot and reach as high as 100 per lot. It is important to note this varies depending on which asset you are trading, so it is important to check.

Here is an example with Bitcoin at $45,000:

  • Minimum trade: $450

  • Maximum trade: $ 4,500,000

XTB Trading Platform

On What Devices Can I Use XTB?

XTB offers both its xStation 5 web trader and a mobile app. Both are user-friendly and offer a range of trading tools and features.

  • Mobile phone application: can be downloaded from the app store for free (Apple and Android). Enables users to trade, deposit, withdraw and use the range of investment tools provided. It is user-friendly and has a nice modern design, however there is no 2-factor authentication.

  • xStation 5 web trader: XTB’s web trader is well designed and user-friendly. It has a great search function and a clear fee report. One drawback is that it does not have 2-step secure login.

Can I Use XTB in Any Country?

XTB has an extremely wide reach spanning over 187 countries.

The four main countries are:

  • The UK

  • Germany

  • South Africa

  • China

Is XTB Available in My Language?

XTB offers 12 languages.

Here are the main four:

  • English

  • Spanish

  • Chinese

  • Portuguese

How Easy Is It to Use XTB?

XTB is a platform that balances usability with complexity. It offers a complex interface with advanced trading tools that is suited to any experienced trader; in tandem it offers a platform that is easy-to-use and somewhat beginner friendly.

Its search function is great and its customizability means users can adapt the wide choice offered to their own specific needs and ability.

Similarly, the mobile app is efficiently designed and has a modern feel. It’s easy to search, trade and navigate.

Key Features

XTB offers some great features that suit both the beginner trader and more experienced users. For a platform with such complexity it performs extremely well in the areas of accessibility and usability.

Here are three of its best features:

Demo Account

XTB offers this virtual portfolio to give you a way of interfacing with the platform before you spend any money on it.

Copy Trader

Allows users to make the same moves as some of the platform’s top investors.

Easy-to-Use With Complex Tools

XTB offers advanced financial chart comparison tools and research-backed analysis along with a solid range of educational tools.

Security and Regulation

Is XTB safe?

XTB has a great reputation for security because of its institutional prowess, its longstanding place as one of the top international brokers, and robust regulation from a range of institutions. However, it does not include some features like 2-factor authentication which some of its competitors provide.

Am I and My Cryptocurrency Protected?

Insurance depends on where you are based and what asset you are using, therefore we advise you to check into that.

For example, the UK offers protection up to £80,000 but no protection on crypto CFDs.

Is XTB Regulated?

XTB is regulated by seven institutions. They are:

  • The FCA

  • The CySEC

  • The KNF

  • The CNMV of Spain

  • The DFSA

  • The IFSC

Do I Have to Verify My Account With XTB?

Yes. Due to its regulatory bodies, you must provide:

  • Relevant ID/passport

  • Proof-of-address

  • Email address

  • Financial status

Some users can verify via video chat.

Extra Information

Educational Resources

XTB has great educational tools as compared to market competitors, such as:

  • Education Hub – including over 150 online lessons and materials

  • Live streams – learn from the most experienced traders

  • Video tutorials

  • Demo account

  • Copy trader

Tools and Charting

XTB has a fantastic range of advanced financial charting comparison tools and a massive range of trading tools. These include: price alerts, heat maps and stock scanners.

XTB satisfies both experienced and beginner traders.

Customer Support

XTB doesn’t have 24/7 customer support. However it offers live chat, phone and email support with great response time and in a host of different languages.

How to Open an Account With XTB

  • Step 1 - Visit XTB's official site & Sign up

Visit the official website, or download the app, and create an account by inputting all of your personal information.

  • Step 2 - Verify your identity

Provide ID and proof-of-address to begin authenticating your account.

  • Step 3 - Start trading

Once verified, deposit funds using one of the methods suggested and begin trading!

Is there an alternative to crypto brokers?

Yes, there are many more ways to trade cryptocurrencies such as using cryptocurrency robots. Check out some of our reviews for the best trading robots:

Is there an alternative to XTB?

1
eToro
Minimum Deposit
$200
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
2
Atani
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Popular among traders
Fast system for trading
Popular for beginners
3
Coinmama
Minimum Deposit
$100
Exclusive Promotion
User Score
9
Easy to use tool
High profit potential
Offers Phone Support

Conclusion

XTB is undoubtedly one of the leading international brokerages. It offers a platform with a great modern interface across a range of platforms. Additionally, there is meaningful educational support for beginners and advanced trading and charting for the most experienced of traders.

XTB fees are very competitive as a forex and CFD broker, however fees become higher to trade in cryptocurrency. The experience a user gets also may depend on where they are based, with Europeans getting access to better rates and features.

Overall, XTB is as good a broker as any. It gives you the option to trade cryptocurrency CFDs in certain locations, but this is only for those highly experienced traders as it is so risky. XTB struggles to compete with some exchanges for crypto rates but overall is competitive in terms of rates and its interface.

*Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Amala Pillai

Amala Pillai

Amala is custom content and news editor based in London. She is a former financial journalist based in Singapore with 7 years of experience covering a range of business and financial topics. Now she focuses on crypto and macro-economics. She has also covered feature profiles, tech, business politics and ESG— she was the Environment Editor for the Solutions Newspaper, 2016 and worked in an editorial capacity at both News corp (Dow Jones) and JBN. She also has experience as a content creator, strategist and brand editor for various financial institutions and banks.