XTB

XTB Trading Broker Review UK

When I first tried XTB, I wasn’t sure if its proprietary platform, xStation 5, could compete with giants like MetaTrader. But after spending a few weeks navigating its tools, testing fees, and exploring its regulation, I can honestly say this broker is a solid option for traders focused on CFDs and forex.

Is XTB a Good Trading Broker for UK Traders?

If you’re looking for a broker with competitive spreads, a user-friendly platform, and FCA oversight, XTB ticks all the right boxes. While the absence of MetaTrader might disappoint algorithmic traders, its proprietary platform, xStation 5, is a standout feature packed with tools for analysis and execution.

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What Can You Trade on XTB in the UK?

Trading Markets – 4.5 / 5 Stars

You can trade stocks, ETF’s, currencies, commodities and indices on XTB just as you would with any other broker but XTB is an interesting one to be honest, somewhere between a trading platform and an investing platform seems to be where they have positioned themselves, which means they aren’t really doing one of either.

For example, they offer fractional shares where you receive dividends from popular stocks both US & UK. This is brilliant for those holding long-term and has a kind of ‘Plus500‘ feel about it, if that’s a thing!

They even have investment plans and high-interest accounts so it feels very much like XTB is covering all bases here, ‘invest a lot and get returns on what you invest’ seems to be the mantra. I don’t mind this approach but it does kind of feel like the ‘trading part’ is secondary in the whole equation – for example, the trading sections are actually categorised under ‘invest’ which is something I’ve never seen before – especially when discussing CFDs.

What You Can Trade

• Forex: With over 50 currency pairs, XTB covers all the major, minor, and exotic pairs you’d expect. Popular options like EUR/USD and GBP/USD are available with spreads starting as low as 0.1 pips.
• Indices: Major global indices such as the FTSE 100, S&P 500, and NASDAQ 100 are all available. Spreads on indices start at 0.5 points, making XTB competitive for index traders.
• Commodities: XTB provides an extensive range of commodity CFDs, including metals like gold and silver, energy products like crude oil, and soft commodities such as coffee and wheat. Spreads on gold start at 0.3 points, which is impressive for day traders.
• Shares and ETFs: If you’re into stock trading, XTB has you covered with CFDs on thousands of shares and ETFs from markets across the UK, US, and Europe. This allows you to trade popular companies like Apple, Tesla, and BP.
• Cryptocurrencies: XTB offers CFDs on major cryptocurrencies such as Bitcoin, Ethereum, and Ripple. However, due to FCA regulations, these are only available to professional traders in the UK.

My Experience

I primarily traded forex and indices during my time with XTB, and the experience was smooth from start to finish. The EUR/USD pair stood out, with spreads that consistently hovered around 0.1 pips—ideal for scalpers and day traders alike.

Indices like the FTSE 100 were another highlight. I tested trades during both quiet and volatile market conditions, and spreads remained tight at around 0.5 points. The execution speeds were fast enough to keep up with my short-term strategies.

The commodities range is solid, particularly for metals like gold, where spreads were consistently low.

Verdict

XTB’s market range is impressive enough, especially for traders focused on CFDs. The breadth of forex, indices, and commodities makes it versatile but the mixed messaging on investing vs trading is a bit of an odd one for me and I would’ve liked them to come out and honestly state what they are one way or another and dedicate themselves to that.

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What Are XTB’s Fees?

Fees – 4.5/5 Stars

XTB’s fee structure is straightforward and transparent with spreads as low as 0.1 pips for major currencies and 0.08% (with a minimum £8 charge) for CFD’s which is very low for a forex and CFD broker. It’s a refreshing change from a few brokers we research that hide their costs in fine print – not mentioning any names here.

What to Expect

• Forex Spreads: Starting as low as 0.1 pips for major pairs like EUR/USD and GBP/USD, XTB’s spreads are highly competitive.
• CFD Commissions: Trading CFDs on shares and ETFs incurs a commission of 0.08% per trade, with a minimum charge of £8. This rate is standard among brokers offering similar services.
• Indices Spreads: Indices like the FTSE 100 and NASDAQ 100 have spreads starting at 0.5 points, making XTB a cost-effective choice for index traders.
• Commodities Spreads: Gold spreads start at 0.3 points, while crude oil spreads begin at 3.0 points.
• Inactivity Fees: XTB charges a £10 monthly fee if your account remains inactive for 12 months or more.
• No Deposit or Withdrawal Fees: Deposits and withdrawals are free for amounts over £50. Below this threshold, small charges may apply depending on your payment method.

My Experience

The forex spreads were a standout feature for me. Trading EUR/USD felt cost-efficient, with spreads holding steady at 0.1 pips during most sessions. Even during periods of higher volatility, the costs remained predictable.

For shares, the commission model is straightforward and suited my larger trades. The £8 minimum fee might feel steep for smaller positions, but the 0.08% rate balances things out for medium to large trades.

The inactivity fee is something to watch out for. While avoidable, it’s a bit of a downside for traders who might take long breaks between sessions.

Verdict

XTB’s fee structure is competitive and transparent. Forex traders and CFD enthusiasts will find the costs reasonable, but the inactivity fee could catch you out if you’re not careful.

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What is XTB’s Trading Platform?

Trading Platforms – 4.5 / 5 Stars

XTB took a huge calculated risk not having MT4, or MT5 platforms in the UK. However, XTB’s proprietary platform, xStation 5, is a true masterclass in how to design and build a proprietary trading platform. It’s designed to simplify trading while providing advanced tools for more experienced users. It competes well with MetaTrader in terms of usability and features, though it lacks support for algorithmic trading on par with MT4 or MT5.

Key Features

• Intuitive Interface: xStation 5 offers a clean, user-friendly layout that’s easy to navigate.
• Advanced Charting Tools: With over 30 technical indicators and customizable drawing tools, it’s ideal for technical analysis.
• Trader’s Calculator: This tool allows you to calculate potential profits, losses, and costs before entering a trade.
• Market Sentiment Tool: See how other traders are positioned, which can help in decision-making.
• Mobile App: xStation’s mobile app mirrors the desktop experience, making it easy to trade on the go.

My Experience

I spent most of my time on xStation 5, and I was overall genuinely impressed. The platform strikes a balance between simplicity and sophistication, making it suitable for beginners while offering enough depth for seasoned traders. For example, they have a great little ‘news’ section, economic calendar and even their fantastic education built into their platform – most beginner’s wouldn’t use this but for more advanced traders (position or swing trading) they would find this extremely useful.

One feature I particularly liked was the quick sentiment analysis feature so I could quickly see whether retail traders were buyers or sellers in particular markets (see below).

The mobile app deserves a mention too. I tested it on both iOS and Android, and it performed flawlessly. From managing positions to performing quick technical analyses, it felt like I wasn’t compromising functionality for portability.

Verdict

xStation 5 is one of the best proprietary platforms I’ve used. While it might not replace MetaTrader for algorithmic traders, its intuitive design and robust features make it a standout choice for manual traders.

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Is XTB’s Execution Speed Fast?

Execution Speed – 5 / 5 Stars

Yes, XTB is super quick. Execution speed can make or break your trading strategy, especially for scalpers and day traders. XTB’s infrastructure is designed to ensure trades are executed almost instantly, and my experience confirmed this.

My Experience

During my testing, I traded across multiple asset classes, including forex pairs like EUR/USD and indices like the S&P 500. Orders were executed almost instantly, even during periods of high volatility.

For example, I tested trading around a US non-farm payroll (NFP) announcement—a notoriously volatile time. Despite the market turbulence, my trades went through with minimal slippage. This was reassuring, especially for short-term strategies where timing is critical.

Algo traders might miss the automation capabilities of MetaTrader, but xStation 5 makes up for it with fast manual execution. The platform is responsive and handles high trading volumes with ease, which is ideal for scalping.

Verdict

XTB’s execution speed is among the best I’ve experienced. The fast and reliable order processing, even during volatile market conditions, makes it an excellent choice for active traders.

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Is it Easy to Deposit and Withdraw from XTB?

Deposit & Withdrawal – 4 / 5 Stars

As with most brokers, XTB processes withdrawals in 1-3 business days, although our experience actually confirms that it’s often much faster than this. XTB offers a straightforward and efficient deposit and withdrawal process, with multiple payment options to suit different traders.

What You Can Use

• Debit/Credit Cards: Most deposits are processed instantly.
• Bank Transfers: These can take 1–3 business days to process.
• No E-Wallets for UK Clients: Unlike some competitors, XTB doesn’t support e-wallets like PayPal or Skrill.

My Experience

Depositing funds with XTB was super easy – to be fair I maybe had a few concerns as it’s a non-US, AUS or UK broker (where most of the other brokers are located baring Vanuatu or BVI(!)). I used a debit card for my initial deposit, which appeared in my trading account almost immediately. Bank transfers, while slightly slower, were processed within two business days during my tests.

Withdrawals were equally smooth. I requested a bank transfer withdrawal, and the funds reached my account in just over 24 hours—faster than the industry average. XTB doesn’t charge fees for deposits or withdrawals over £50, which is a nice touch, though small fees might apply for amounts below this threshold.

The one area where XTB could improve is by adding e-wallet options for UK clients. These can offer faster and more convenient transactions, which some traders might prefer.

Verdict

XTB makes deposits and withdrawals easy and transparent. While the lack of e-wallet options is a minor drawback, the fast processing times and fee-free structure for most transactions make fund management hassle-free.

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Is XTB a Legit & Regulated Broker?

Regulation and Security – 5/5 Stars

Yep, for Uk traders it’ll be comforting to know that XTB is regulated by the FCA (UK), ensuring high standards of security and transparency. It’s also publicly listed on the Warsaw Stock Exchange, adding another layer of credibility.

Who Regulates XTB?

• Financial Conduct Authority (FCA): Ensures compliance with strict UK financial regulations, including client fund protection and operational transparency.
• Other Regulators: XTB is also regulated in multiple jurisdictions, including Poland, where it is listed on the Warsaw Stock Exchange.

Key Features

• Negative Balance Protection: Retail traders are safeguarded from losing more than their account balance, which is crucial for leveraged trading.
• Client Fund Segregation: All client funds are held in separate accounts, ensuring they’re protected even if the broker faces financial difficulties.
• FSCS Coverage: For UK traders, funds are covered up to £85,000 under the Financial Services Compensation Scheme.

Verdict

XTB’s regulation and security measures are top-notch. The combination of FCA oversight and transparency as a publicly listed company is a win for traders prioritising safety.

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Is It Easy to Get Started with XTB?

Onboarding – 5/5 Stars

Opening an account with XTB is pretty quick if you are based in the UK. There’s no minimum deposit, which is rare and makes the broker particularly appealing to beginners. I even got started with xStation on a demo account and when I tell you it took under 30 seconds I’m not exaggerating. All you need is an email and a phone number and boom you’re in and free to test it yourself.

My Experience

The actual process to get started on a live account took under 10 minutes. After uploading my ID and proof of address, my account was verified within a day. Absolutely seamless, zero issues.

Verdict

From sign-up to trading, XTB makes onboarding a breeze. Beginners will especially appreciate the lack of a minimum deposit and the availability of a demo account.

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Is XTB Good for Beginners?

Education – 5/5 Stars

Man does XTB impress with their educational resources for beginners! You’d be hard pushed to beat it to be honest. Education is a strong suit for XTB, and their offerings cater to both beginners and advanced traders. Not only do I get a whole educational suite direct from my xStation platform (see above), but you also get a huge range of resources directly in their website.

What’s Available

• Trading Academy: Structured courses covering topics from basic market concepts to advanced trading strategies.
• Webinars: Regular live sessions hosted by industry experts, with a focus on market analysis and trading techniques.
• Daily Market Analysis: Includes updates on global events, economic data, and their potential impact on the markets.
• Advanced Tools: Resources like sentiment analysis and technical indicator guides are available directly through xStation 5.

My Experience

I spent hours exploring XTB’s Trading Academy, and I was seriously impressed by the quality of the content. The tutorials on technical analysis and risk management were particularly insightful, breaking down complex topics into easy-to-understand lessons. However, because there is so much content, it does tend to become a little bit outdated – keeping up with it all would require an army of financial education journalists (prime example, see the Rishi Sunak image above.. it’s December 2024 at time of writing – Keir won.)

I also attended a couple of webinars during my testing, which were pretty good. One session focused on trading the impact of central bank decisions, and it gave me some practical tips that I hadn’t actually thought about so fair play, they do a decent job here.

The daily market analysis is another standout feature. The updates were really useful, giving me a clear picture of key economic events and their implications and things to watch out for the next day.

Verdict

XTB’s educational offerings are among the best. Whether you’re a beginner or looking to refine your strategies, there’s plenty here to help.

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FAQs

1. Does XTB support MetaTrader?
No, XTB uses its proprietary xStation 5 platform.

2. Is XTB safe for UK traders?
Yes, XTB is FCA-regulated and offers negative balance protection.

3. What’s the minimum deposit?
There’s no minimum deposit required.

4. Are withdrawals free?
Withdrawals over £50 are free, though fees may apply for smaller amounts depending on the method.

5. Can I trade cryptocurrencies?
Only professional traders can access crypto CFDs due to UK regulations.

6. Does XTB charge an inactivity fee?
Yes, £10 per month after 12 months of inactivity.

7. Does XTB offer Islamic accounts?
Yes, Islamic accounts are available for Sharia-compliant trading.

Final Thoughts

XTB stands out as one of the best brokers for UK traders, offering a seamless trading experience backed by FCA regulation, competitive fees, and a user-friendly proprietary platform. While the lack of MetaTrader support and limited e-wallet options might deter some, the overall package is hard to beat.

If you’re looking for a reliable broker that prioritizes transparency and trader education, XTB is an excellent choice.