XTB Reviews & Comments 2018
Currencies exchange rates Currency converter Forex economic calendar.
What are XTB's spreads & fees?
The main charting tools are accessible from a side panel on the left of the chart window. Customizations are widespread, including 25 drawing tools and 26 technical indicators. Usability across the platform is evident as panels can easily be resized, charts can be detached for focused analysis, the trade-ticket window is cleanly designed, and multiple layout templates are available. Moving to the reporting tools, there is a statistics section in the platform that lets traders analyze their history on a trade-by-trade basis for closed positions, including calculating any max drawdown and average profit and loss over time, among other performance rankings.
Thus, it is a historical trade analysis tool and not a real-time risk management tool. Since xStation5 does not support automated trading, MT4 must be used. A desktop version of xStation5 is also incoming, which we look forward to testing in our next annual review. The xStation mobile app from XTB is easy to navigate from its upper left side menu bar, and ranks highly in terms of features, design, and ease of use compared to mobile apps from industry peers.
That said, there is room for further innovation in what is already a good foundation for its mobile app. The charting works well in both landscape and portrait mode, yet there are only 10 indicators and 10 drawing tools available.
While this is comparable with industry standards, it was disappointing not to see more considering the desktop platform has 25 drawing tools and 26 indicators. Drawback aside, trendlines can be saved on the charts, which is a feature not many brokers offer in mobile.
Once you reach the order ticket, the layout is clean and includes enhanced dialogue to make placing trades an effortless experience. Trading aside, research capabilities in the xStation mobile app are formidable. Top movers, market sentiment analysis, and a news calendar with click-to-expand charts are all available. Two final features worth mentioning include screen locking and chat support.
With screen locking, you can create a pin and set the app to lock open, preventing your phone from auto-sleeping while monitoring the markets. Overall, the XTB mobile app provides a quality experience that is slightly above the industry standard.
XTB finished 18th out of 43 brokers for Mobile Trading. As a multi-asset broker regulated in several major financial centers, XTB provides a well-rounded experience. That said, as a whole, the broker provides traders an offering that is above the industry standard and worth a consideration. For our Forex Broker Review we assessed, rated, and ranked 43 international forex brokers. Each FX broker was graded on variables. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 19 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
The Basic and Standard accounts, which have wider spreads in lieu of commission, are only available to residents of the United Kingdom UK and Ireland, leaving the commission-based Pro account, which offers lower spreads as the only option for all other international clients not residing in the UK.
Meanwhile, regardless of account type used, you can choose from either MT4 or the xStation suite of platforms. Nor is there a glossary or economic calendar. There are no commissions charged when using any of these payment methods. Withdrawals are made by first contacting the office and money can be received by bank wire.
There are fees attached depending on the amount transferred. Traders can contact a XTB representative by telephone to their London, UK office as well as to local numbers in 11 other countries. Overall, the quality of services offered by XTB is above par. Trade executions are efficiently carried out and customer support is prompt. The main complaint is the fact their leverage ratio could be higher than the that they presently offer. Nevertheless, XTB is highly recommended for serious traders who demand the best from their in terms of trading services offered.
Top Online Forex Brokers. Read More Forex Broker Reviews. Disadvantages Leverage is only at 1: XTB offers an execution trading service in over 50 currency pairs for forex traders. Trading in currency pairs via XTB can take place around the clock for five business days each week. Positions held overnight are automatically rolled over at published swap point rates, which vary by currency pair and market conditions. These points might be positive or negative depending on the interest rate differential between the two currencies involved.
In terms of the leverage available at XTB, you can access a leverage ratio of 30 to 1 on your forex transactions if you have an account size of less than 8, GBP. Execution of trades is especially fast via this broker, with an average forex trade execution time of only 85 milliseconds without any dealing desk intervention.
The broker offers three different types of trading account for traders will different investment amounts and skill level. The Basic account is better suited for novice traders and provides fixed spreads, no commissions, instant execution, a 30 to 1 leverage ratio on forex trades, micro lot trades, and guaranteed stop loss level execution.
Trades are also executed immediately and a 1: The most advanced traders can open a Pro account, where actual market spreads are passed through directly to the trader and an execution commission is charged on each trade instead. For spread sensitive traders, XTB publishes target dealing spreads for all of the forex currency pairs available for trading via its supported platforms.
The tightness of the spread you receive will depend on what sort of account you are trading in and market conditions. To access personal accounts, a password and username unique to each client is stored on secure servers. Details of payments are encrypted through Ingrain devices, giving tamper-proof protection of cryptographic keys and ensuring the security and privacy of the encrypted data.
In addition, XTB offers its clients access to its own proprietary trading platform called xStation that they claim has a quick 85 millisecond average trade execution time.