XTB stands for X-Trade Brokers and it is a Polish company offering online trading services. The broker is regulated by numerous financial authorities and has offices in over 13 countries worldwide. XTB claims to be ‘the fourths-largest stock exchange listed FX & CFD broker in the world’.
The company offers for trading more than 50 currency pairs, indices, commodities, shares and ETFs.
Traders can use either well-known MT4, or its own developed xStation5. Both are intended for desktop computers and mobile applications for iOS and Android devices and xStation5 is also available for smartwatches. With xStation5 XTB claims to have an average order execution 85 milliseconds. The platform has some useful features such as customizable trading screen, trading calculator, advanced chart trading, market statistics, bulk order closing, economic calendar and real-time market news.
There are three kinds of accounts available on both platforms:
- Basic (fixed spreads, 1:200 maximum leverage, USD250 minimum deposit, spreads starting from 2.0 pips, guaranteed stop loss orders, no re-quotes, no automated trading and strong restrictions for trading quantities of some instruments);
- Standard (floating spreads, 1:200 maximum leverage, USD250 minimum deposit, spreads starting from 0.35 pips, non-guaranteed stop loss orders, automated trading and no re-quotes);
- Pro (marker spreads, 1:200 maximum leverage, USD250 minimum deposit, spreads starting from 0.25 pips, non-guaranteed stop loss orders, automated trading and no re-quotes but some commissions on forex trading).
XTB’s Terms of Business informs that although some instruments have a fixed spread, under certain circumstances (higher volatility, low liquidity, unexpected political and economic events) it can be widened. Market orders can be executed at a different price than one shown in the platform, or there is slippage. Slippage doesn’t exist in instant orders, but they can be rejected, if the price has changed significantly from the one in the order. Stop loss orders are guaranteed during the trading session and not when the market opens.
Clients should consider that higher leverage leads to a greater risk of loss and there is no negative balance protection so they could owe money to the broker. Although a margin call occurs when equity falls below 30% of the necessary margin, depending on the market movement customers can lose more than their account balance.
XTB is a market maker and stands as a counterparty to the customers, which could lead to potential conflicts of interests with them.
The website provides some useful tools such as market analysis, economic calendar, news and trading education.