Every investor who learns about the XTB trading platform frequently has concerns about the platform’s reliability and the possibility of fraud. Therefore, in this article, I will provide detailed information and evaluate the reputation of XTB in an objective way.
Introduction to the XTB exchange:
XTB is a leading Forex and CFD trading platform in the world, established in 2002, based in Belize and operates in many different countries. Users of XTB are permitted to trade a wide range of assets, such as foreign currency pairs, stocks, precious metals, commodities, and crypto.
The XTB provides a fully functional trading interface and 24/5 customer service. This platform received the support of thousands of users worldwide and accomplished significant achievements. The following are some prominent features of XTB:
- Operation history: This platform has been operating for over 20 years.
- Country of operations: 13 offices worldwide.
- Number of customers: Over 400,000 people use XTB globally.
- Trading products: More than 2,100 different trading products, including stocks, precious metals, stock indices and commodities.
- License: XTB possesses licenses from numerous reputable financial regulatory organizations, including KNF (Poland), FCA (UK), and CySEC (Cyprus).
The awards that XTB has achieved:
- The Best Broker in Europe award – Money Market magazine in 2005.
- Best financial educator.
- Best CFD trading provider award.
- Fx Cuffs Award 2017 – Exchange providing the best xstation 5 platform.
- Best islamic forex broker of the year in 2018
- Best CFDs Broker of 2019 – Broker Chooser magazine
Trading products on the XTB exchange
Targeting clients with many selections of products, XTB offers over 1800 products, including forex, indices, commodities, stocks, cryptocurrencies, and ETF CFDs.
- 49 forex currency pairs
- 42 stock index pairs
- 1724 CFD stock codes
- 104 ETF CFDs
- 25 crypto tokens
- Forex
With 57 distinct currency pairs available to traders, XTB helps diversify trading portfolios by offering cross currency pairs, major currency pairs and hybrid currency pairs from many countries around the world.
Currency pairings originate from small economies like EUR/TRY, EUR/SEK, USD/TRY, and the most expensive countries like the US, Japan, China, France,… Investors are allowed to trade 5 trading days per week and 24 hours per day, with extremely low spreads of 0.1 pips.
Indicators
XTB forex exchange has 42 global indexes from major markets such as China, America, Japan, England, and Germany. Notable indexes are: EU50, US30, US100, JP225, UK100,…
Traders can take advantage of numerous benefits when they choose to trade indices at the exchange, including competitive spread fees, free overnight holding orders, the ability to place simultaneous buy and sell orders, and support for leverage levels up to 200:1.
Commodities
There are 23 products in various fields on the forex exchange: Coffee, cocoa, sugar, gold, silver, gems, energy,…
CFD stocks
Over 180 CFD stock trading codes are available on XTB, provided by large businesses such as Amazon, Netflix, Facebook, Adidas, Nike, Alibaba,… Order processing speed is very rapid, transaction fees start at 0.08%, and leverage support is 1:10.
ETF CFDs fund
Traders can freely be exposed to 60 ETF CFDs. The forex exchange exchange fund is fairly diverse, and numerous rewards programs for investors who trade this product.
Cryptocurrencies
There are 25 virtual currencies offered by XTB, which is rare for any forex exchange to meet. Including popular cryptocurrencies such as: Bitcoin, Litecoin, Dash, Ripple Stellar, Ethereum,… as well as newly emerging as: Litcoin, EOS, Ethereum,…
Due to the Forex market’s 24/7 availability, traders are free to trade throughout the weekend. Trading orders can be held for up to 365 days and have very deep liquidity.
Despite the wide range of trading products that XTB offers, there is one drawback that should not be misplaced as users are prohibited from selecting binary options.
Types of accounts on the XTB exchange
XTB provides traders with two types of accounts: Pro and Standard.
Standard account (standard version)
XTB’s Standard account is similar to those found on XM, FBS, TickMill, and ICMarkets,… However, XTB is divided into three distinct types: Standard A, Standard B, and Standard C.
The spread levels of these 3 accounts are different, the lowest is the beginner account – Standard A.
- Spread Type: Floating
- Minimum deposit: $1
- Spread (pip): 0.35 pips
- Maximum leverage: 1:500
- Transaction fees: 0
- Minimum volume: 0.01 lot
Pro account for professional traders
XTB’s Pro account was created to target professional traders. Although there are fees associated with this account, the account spread is relatively low.
The XTB Pro account offers a distinctive
function whereby the minimal trading volume is at least 0.1 lot ( This level does not seem as a small number for beginners or inexperience investors).
- Spread Type: Floating
- Minimum deposit: 20$
- Spread (pip): 0.1 pip
- Transaction fee: 7$/lot
- Minimum volume: 0.1 lot
- Maximum leverage: 1:500
Instructions for XTB registration
Step 1: Visit the XTB homepage in order to create an XTB account.
You can quickly open an XTB account by clicking the button below.
After that, select “Create exchange account” in the upper right corner of the screen.
Step 2: Fill in basic information
- Enter the email address you want to use to sign up for your XTB account.
- Select the country based on your documents.
- Remember to click on 2 boxes to get helpful business intelligence from business partners and the trading platform.
Step 3: Set up the password
- Make an account password to access TWS or the Account Management page. The password must meet the following requirements: one capital letter, one number, and eight characters. For instance: Nguyenhoanga66, Brokersvn22,…
- To complete step 3, click Next.
Step 4: Fill in the FATCA declaration form and personal information
Complete the following information:
- Name (including first and middle names).
- Phone number (country code is +84, first 0 omitted).
- Date of birth and nationality.
Proceed with the information update in the “FATCA Statement” section by dragging the mouse down. You must select the “I am not a US citizen” box here.
Step 5: Enter address information
Continue to provide address information such as your house number, street name, province/city,… where you reside.
Note: The entered address without accents, and the information above must match the document and ID you previously used for verification.
After filling out all of the information, click “Next” to proceed to the next step.
Step 6: XTB Policies and Terms
- Check the box to accept XTB’s policies and terms.
- Then click the “Next” button.
Step 7: Complete the registration process to create an XTB trading account
Once your trading account has been successfully created, you will receive a notification from XTB. Enter the “Go to your account” box.
Note that this is not the final step in setting up an account for trading on the XTB Exchange. All forex brokers, especially XTB, must require an additional authentication step in order to be considered a real trader.
When you click the “Go to your account” box, you will be taken directly to the xStation web interface for trading. Then, select “Active Account.”
Step 8: Verify identity
You have two options on XTB for authenticating your identity: you can upload images or videos. Instead of using video verification, click “here” to upload a photo from your computer.
Method 1: Download photos from mobile phone
Click the “Send link via text message” box if you would like to complete the process via the phone. You will receive a message with a download link for the file at the phone number you used to register for XTB initially. Open the link and follow the instructions to complete the phone verification process.
Method 2: Upload photos from computer
Choose the type of ID you want to use for verification, ensure that it includes a photo of both the front and back. Uploaded files need to be legible. Next, select “Upload from your computer”.
Click the “Continue” button to move to the address verification section.
The procedures for address verification are the same as those for authentication. You can use bank statements, electricity/water/internet bills with full name and address information.
A “Confirm your identity” message will show on the screen after the file has been uploaded. You need to wait for document verification, or you can check the exchange’s email to confirm the response.
- After the documents are verified, you log in to manage your account via email and your registered XTB account.
- On the home page, immediately select the “My Account” section in the lower left corner of your screen. The screen will show a list of account types including 4 types of trading accounts: Standard A, Standard B, Standard C and Pro.
- Among them, Standard A account trading orders are less than 0.1 lots, and Pro accounts require trading orders of at least 0.1 lot. Kindly select the most appropriate account type for you. After making your final platform and transaction currency (USD) selections, click “Submit.”
By following the simple and detailed instructions above you’ve now successfully opened a desktop account. You can watch the video below to learn how to open an account on your phone.
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