XTB Review

XTB has more than 15 years of experience and it’s also one of the largest Stock Exchange listed FX and CFD broker in the world. Being one of the best in the world, they have several offices in 13 countries including Poland, the UK, Germany, and France. They also value technology as they view it as one of the most important elements of finance and investing. They are always seeking to improve their trading application in accordance with the latest solutions and trends.

They have an ambition of making xstation the most functional and reliable trading app on the market. Given that they spent over 15 years in the financial market, they’ve been able to earn the trust of more than 140 thousand customers globally.

Regulation

XTB is being supervised by some of the world’s biggest regulatory authorities such as FCA, KNF, CySec and IFSC. These regulatory bodies ensure that XTB comply with a set of trading principles that assures their client.

XTB uses the FCA as well as other associated rules to protect their clients’ funds. Clients phone are protected by up to 85000 GBP via the Financial Services Compensation Scheme (FSCA). This is, in case, of XTB insolvency. XTB international is regulated by the Belize International Financial Services Commission (IFSC). XTB trade broker is also authorized by the Polish Securities and Exchange Commission.

Trading products

If you are looking to understand the trading products of XTB, know that it is divided into six categories. These categories include forex, shares, indices, commodities and cryptocurrencies ETF. Also, XTB also uses a personalized trading platform for their brokers one of the personalized trading platform you will find on XTB is the XStation 5 which was voted as the best trading platform in 2016 by the online personal wealth awards.

XTB was able to bag this award because this platform offers instant and reliable execution with no re-quote. On the plus side, XTB offers a free-market audio commentary. This is a paid service. It also works as an advanced trading calculator that you can use to instantly determine every aspect of your trade.

The fun part of this software is that it comes with a comprehensive video tutorial, sentimental heatmaps, a stock screener and a real-time performance stat that helps to break down your trading habits. It also shows you where your weaknesses and strengths lie as a trader. This software is available across mobile, tablet, desktop and even smart watch. It comes with a variety of innovative technical tools to assist you with your trading.

Account types

XTB offers two types of account. You have two standard and pro account and the professional account. The standard and pro account are referred to as retail accounts while the professional account is reserved for professional clients alone. Endeavor to understand that to qualify for professional client status, you will need to meet about two out of the three required criteria. You can visit the XTB website to learn about more details on this.

Education

XTB provides beginners with a wide range of educational materials. They offer tutorial videos to their clients and traders and you also have the option of joining an online trading academy. The online academy is segmented into four distinct categories. These categories include the basic, intermediate, expert and premium. XTB also provides a free trading library download for beginners. The topics of technical and fundamental analysis and well covered in the intermediate section of the course.

Registration process

Traders can simply apply for a live XTB account using a simple and secure online form. As it is with all FCA regulated brokers, XTB is required to go through the know-your-customer process and protect its members from any form of money laundering activity. These procedures are designed to make things much more secure for traders.

In the beginning stages of creating an account on the XTB website, you will be asked a few questions starting with the simple ones. You also be asked to provide your name, national insurance number and phone number. As you go on, you will be asked to choose the trading platform, account type, language and currency.

After this stage. you will proceed to the know-your-customer question section. In this section, you will be asked questions that judge your investing experience and ensure that you are in the best financial position to trade.

The regulators governing XTB insist that every broker must take these steps before allowing new traders to trade. During the know-your-customer section, you will also be asked some specific things such as your annual income, net worth. account funding., source of income and the likes.

In the last stage of the registration, you will be asked to verify your ID, proof of address, as well as any other information you provided. Validating your information can be done with three of these documents – passport, driver’s license or identity card.

Withdrawals

The good part about XTB is that withdrawals can be processed the same day if the request was made before 1 p.m. GMT. However, if the request was made after 1 p.m., the withdrawal is always processed on the next business day. Withdrawals are designed to go to your nominated bank account which you will need to provide valid documentation for.

Trading alerts

XTB has a mobile trade alert service that allows traders to access a direct line of contact with the chief market analyst. Chief market analyst assists traders by sending them breaking news and some key technical levels via WhatsApp.

Customer service

At XTB, the customer support system works 24 hours a day for 5 days a week. The support service is also available through email, phone and live chat. Furthermore, traders are assigned a personal account manager to assist them with any account related issues.

The XTB customer support system is available in several languages. Most of these languages include English, German, Italian, French, Polish, Russian, Spanish, Turkish, Arabic and a lot more. If you didn’t know, understand that XTB is prohibited from offering trading services to residents of the United States due to some national regulations.