- يونيو 27, 2021
- Posted by: ForexTradeOn
- Category: XTB Forex Broker
Introduction
XTB is one of the best FX and CFD brokers out there. With more than 15 years of experience in trading, XTB becomes suitable for a lot of users whether they’re beginners, intermediate, or even professionals.
In this article we’re addressing the main pros and cons of XTB in each broker aspect.
XTB |
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Pros |
Cons |
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Safety |
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– Regulated by FCA, CySEC, KNF, CNMV, IFSC – Has a client protection – Has a long track record since 2002 – More than 250,000 users – Listed in stock exchange – Has account safety options like stop loss, price alerts, and negative balance protection |
– Does not have a banking license – The XTB account does not have a two-step verification |
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Offering of Investments |
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– Forex and CFD trading – Cryptocurrencies trading – Real stocks and ETF trading for some European clients |
– Bonds, mutual funds, social trading, options and futures are not available |
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Account Opening |
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– Has standard, pro, and islamic account options – Fast account opening within 1 day – Fully digital – No minimum deposit – Up to 50% bonus for starters – Demo account – Ability to join XTB affiliate account |
– Lacks two-step verification logging in method – Not available for residents in USA, India, Japan, Australia, and some other countries |
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Fees and Commissions |
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– Low forex trading fees – No deposit fees for bank transfers and credit cards – No withdrawal fees for transfers above $100 – No account inactivity fee before 1 year of inactivity |
– High CFD fees – No account fees – Has a 2% fee for electronic wallet deposit |
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Deposit & Withdrawal |
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– Supports 5 major account currencies USD, EUR, GBP, HUF, and PLN – Supports depositing with credit cards, bank transfers, and electronic wallets. – Min deposit is $0 – Min withdrawal with no fee is $100 / €80 / £60 / HUF 12.000 |
– Does not support withdrawal using credit cards or electronic wallets. – Depositing using electronic wallets has a 2% fee |
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Platforms and Languages |
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– Available for Web / Windows / Mac / Android / IOS – Compatible with MT4 and mirror trader platforms – User friendly – Supports +15 languages including English, German, and Arabic – Good search capabilities – Clear fee reports – Different notification options – Fingerprint security option for mobile devices |
– Lacks two-step verification – Does not allow bot trading – Not available for platforms like ZuluTrade, Sirix, cTrader, PAMM, and MT5 |
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Research Tools |
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– Research tools in xStation 5 and XTB website – User friendly – Charting option with +30 indicators – Has a market sentiment analysis and heat maps – Stock scanner and ETF scanner – Recommendations, market, and data in the newsfeed – Different languages options including English and Arabic – interactive charts |
– Lacks fundamental data – Hard to find trading ideas |
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Customer Service |
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– Live chat – Phone support – Email support – Fast response time – 24/7 support – Supports major languages like English, German, Arabic, and more. |
– None |
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Education |
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– Demo account – Tutorial videos – Live webinars – Articles and textbooks – Quizzes – Different learning levels like beginner, intermediate, and expert |
– None |
FAQs
- Does XTB allow bot trading?
- No , XTB does not allow bot trading on their platform.
- Does XTB give a bonus?
- Yes, it gives up to 50% of your first as a bonus if the following conditions applied:
1- Bonus is given for some new clients who are non EU/UK.
2- You’re allowed to get a bonus if you trade with a minimum of 15% of your first deposit.
3- Your first deposit should be at least 100 USD.
- Does XTB provide active trader discounts?
- Yes, XTB will rebate a portion of the spread (from 5% to 30%) back to them when they reach certain volume thresholds.
- Does XTB allow scalping?
- Yes, it allows scalping through their platform xStation 5 and the third party trading platform MT4.
- Does XTB have an islamic account option?
- Yes, it has. You only have to provide an evidence that you live in a muslim country.
If you want more information, please check out XTB Full Review.