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XTB Broker Review 2018

XTB is a brand and trading platform for Forex and CFD trading as well as binary options of the Polish X-Trade Dom Maklerski SA based in Warsaw/Poland. In Germany, X-Trade Brokers Dom Maklerski SA is represented by a German branch in Frankfurt am Main. In addition to its headquarters in Warsaw, the company also has 14 other offices in Europe, including Austria, Italy, France and the Netherlands.

You can also open an account with XM broker and get a $5000 bonus.

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XTB is one of the best-known non-listed brokers in Eastern Europe in 2018. XTB was founded in 2002 as the first Polish provider of leverage products in the forex market.

X-Trade Dom Maklerski SA has been licensed and regulated by the Polish National Financial Supervisory Authority (KNF) since 2005 and is a member of the Warsaw Stock Exchange.

XTB's extensive, German-language website is clearly arranged and contains a wealth of information on companies, trading instruments, trading platforms, education and market analysis. With equally transparent and detailed information on the company and management, XTB stands out particularly positively.

A free demo account is available independent of the opening of a live account. With a virtual credit balance of EUR 5,000, the trader can test the trading platform for up to 30 days without any risk, apply new strategies and familiarise himself with all trading options.

Signing up for XTB is multi-step and is a bit more extensive than most other forex and CFD brokers in 2018. First of all, personal details such as name, email, address, date of birth, etc. are required. In the second step, you specify a reference account (bank account) of the trading account holder to which you want to make disbursements at a later date. For this account, a password is set for identification via telephone support.

After the reference account has been specified, the form is filled out in accordance with the Securities Trading Act (Wertpapierhandelsgesetz, WpHG), in which the status of experience in forex and CFD trading is checked. Subsequently, a short knowledge test is included.

Once the above information has been provided, payment may be made. This also requires the sending of the usual proof of identity.

Deposits can be made by credit card such as Visa or Mastercard, bank transfer or PayPal.

Depending on the payment method, fees may apply, including credit card payments. These are listed in the overviews under Trading costs at XTB.

XTB requires a copy of your passport or identity card, which is common for online trading, as well as a proof of address such as utility invoice (electricity, gas or water bills) or, in the case of credit card deposits, a copy of a credit card statement or, in the case of bank transfers, a copy of the bank account statement.

XTB does not require a minimum deposit for all account and trading methods.

The account can be managed in EUR, USD or GBP. As usual, it is not possible to change the currency after opening an account.

When depositing to an account, regardless of the payment method used, the trader must be the account holder of XTB, as with all online brokers, in accordance with the applicable anti-money laundering guidelines.

Payments can only be made to bank accounts at XTB and ordered via the online customer portal, by fax or by telephone.

Withdrawals are paid only to a trader's own bank account to be specified and cannot be made to the credit card or PayPal account that may be used for deposit, i. e. the trading account holder must have a bank account running on his own name and indicate this when making the deposit. If this has changed, the change of the reference account can be sent online to XTB via a data change form. In accordance with the anti-money laundering guidelines, payments via third parties are also not possible for all online brokers, neither for deposits nor withdrawals.

The internal processing time specifies XTB with a working day, in addition the bank term until the amount is credited to the own account, in the case of bank transfers a term of about 3-5 days is to be expected.

Withdrawal modalities require the same identification documents as those required for your first deposit. If these are complete, it is not necessary to send them again, as long as the available documents, such as the proof of address, are not older than 6 months.

XTB offers a very good, comprehensive and high quality education section. In addition to video tutorials, e-books, stock market lexicon and almost daily webinars, numerous current market news and analyses are also available. XTB professionals present the latest analyses on a daily basis.

Traders can log in to Trading Central under Market Analyses and benefit from daily market reports and technical analyses for the asset classes Foreign Exchange, Equity CFDs, Commodities and Indices. Non-customers of XTB can subscribe to a free newsletter and convince themselves of the research quality without obligation.

With numerous training opportunities and up-to-date market information, XTB is one of the few providers to offer its customers a very good service and performance package.

With more than 50 currency pairs, 26 commodities, 19 indices and several hundred stocks from 9 different countries as well as US and German government bonds, the Asset Index is quite comprehensive and varied.

However, the stock index is not clearly structured, as it is sorted by stock market abbreviations and not by names. Approximately 540 underlying assets are available for the standard account.

While in binary options trading only the amount used is lost in the event of a loss, forex and CFD trading entails much higher financial risks with regard to unlimited losses due to the leverage effect. Please also read our detailed articles on foreign exchange trading for beginners and CFD trading.

As with ETX Capital and STO (AFX Capital), the advantage for binary option traders who opt for XTB lies primarily in the professional trading environment and the broker's range of services.

The in-house trading platform xStation is easy to use and especially the presentation of the charts is very good and detailed, but the layout is too dark and would be even more user-friendly with brighter colours.

In addition to the xStation trading platform, the well-known MetaTrader 4 trading platform is also available. Experienced traders who have traded with MetaTrader 4 can also use the popular trading platform at XTB.

XTB does not offer a bonus system, i. e. bonuses for new customers or from certain deposit limits are not available. However, this is rarely the case with professional derivatives brokers anyway, and the focus is often primarily on convincing the customer of optimal trading conditions. Experienced traders can take part in XTB instead in competitions such as the xSocial Trading Contest, where profits of up to 10,000 EUR are possible.

XTB's German-speaking support is available via live chat, email or by phone on a free German telephone number. Many more general questions can already be clarified on the extensive website, in particular under FAQs numerous topics and questions are dealt with. In our live chat test, a partner was immediately available to answer questions accurately and instantly.

For mobile commerce, XTB offers the corresponding apps for IOS and Android. The apps are downloaded from the broker's website in the Apple or Google Play Store.

As an EU regulated online broker based in Warsaw/Poland, XTB is considered to be a reputable, transparent provider, which is known above all in the Eastern European market, but also offers good support to German customers with a German branch office.

With numerous service benefits at moderate trading conditions in forex and CFD trading, XTB is particularly suitable for traders with average trading volumes. In the case of high revenues, relatively high fees and commissions are due. For this reason, flat rates from 199 EUR up to 1,499 EUR per month are available for the extended Professional account.

For binary options traders, XTB is a cost-effective and recommendable broker that does not set minimum deposit limits and provides a convenient, professional trading environment.

XTB scores points with many high quality and varied training opportunities in German language as well as current market information and analyses, the service of this broker leaves nothing to be desired in this respect. There are hardly any other points of criticism worth mentioning with this broker.

Professional basic knowledge on the subject of online trading can also be acquired through the online training provider Shaw Academy. Also heavy-trader. com offers a weekly, free stock exchange seminar as well as a 3-day practical workshop for 945 EUR plus local VAT in Hamburg.

Overall, XTB makes a serious, service- and performance-oriented impression. We recommend the professional online broker, who has a very good offer and is suitable for both beginners and advanced users.