Avis XTB, a CFD broker to be followed with attention

4.4

Our Summary

We are still sometimes surprised to see XTB Broker present in the top 5 of the best online trading platform analysis sites. Not because we have any doubts about its qualities as a professional support to carry out stock exchange operations. Our astonishment stems more from a less conspicuous media presence than other online brokers. If we mention eToro or IQ Option, you will certainly have passed a banner ad. So a legitimate question arises. What makes the difference at XTB without making too much marketing fuss? What is the basis of the XTB broker’s recipe? We can already address the historical dimension since the broker of Polish origin is one of the pioneers of the online stock exchange sector with a creation in 2002. Good growth and the obtaining of all the necessary certifications (stock exchange activity regulated by the AMF, CySEC or FCA among others) have given the financial company a good scope at a global level. In 2010 offices were opened in Paris through BNP Paribas. Its experience and its technological adaptation to a very dynamic sector have given it a solid legitimacy. Yet this is not enough to understand the extent of the XTB trading phenomenon. Let’s take the analysis a step further.

How to open an XTB customer account?

A very important criterion for a CFD broker: quick and easy account opening. XTB is no exception to the rule. A simple registration form has to be filled in with very standard user data: surname, first name, country of domicile, email and telephone. Once this step has been completed, the form has to be sent to the support team and validated An XTB trader can choose between a demo account or a real money account. We will come back to the demo account right after. Concerning the real account, 2 types of accounts are available: Standard and Pro. It is imperative to provide the customer support with supporting documents to use their asset portfolio. A simple valid identity document (passport or CNI) and a recent proof of address (telephone or energy bill) are required. Do not forget, of course, to make a deposit as initial capital. A final important element gives another dimension to the broker. It is strongly recommended that you fill in your “trader file” carefully and honestly, as this enables the advisers to propose a training programme that is in line with the investor’s actual level of skills.

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The XTB demo account

XTB trading does not reinvent the kind of online brokerage demo accounts. It is a space accessible by all new registrants who can try out a trader account free of charge and without risk. The XTB demo account offers a selection of financial instruments as well as a battery of features found in real money accounts. Fictitious and revolving funds are made available. They can be used at the apprentice investor’s discretion under the real conditions of the financial markets. No profit can be made from this free trader account. It is an excellent training in the stakes of the trading platform: charts, order passage, profit and loss delimitation, margin calculation, xtb leverage, choice of financial product and investment strategy. The XTB demo account is highly recommended for beginner traders who have only a vague idea of the activity of stock market professionals. Last point that weighs in the balance. The fictitious capital granted is huge with 20k€. This offers a unique opportunity to realise the potential profitability of an active and well supplied trading account.

Trading platform

There is a lot to be said about the XTB Online Trading platform. With almost 2 decades of existence, the CFD broker has been able to evolve and adapt to the demands of users of this type of medium and the technological trends driven by FinTech. Some are largely well developed where others are still in the form of a bud waiting to blossom. Let’s take a closer look at the treasures of Xstation 5.

Xsocial or social trading according to XTB

This is one of those projects that we consider still to be improved. Nevertheless, XTB has developed a social trading functionality that deserves to facilitate the financial life of traders. Especially the most profane ones. The basic mechanism is quite similar to what eToro, the leader in Social Trading, offers. The portfolios of the best investors can be consulted so that they can copy their positions at any point, which quickly boosts the performance of one’s own account. Xstation fundamentally lacks automatic functions which, for example with CopyTrader (eToro), allow you to systematically repeat the trades made by the portfolio being monitored It is a fine attempt that still deserves some development to be up to scratch. However, the XTB social trading platform offers a really interesting alternative for novice investors who still hesitate to open a position due to a lack of financial strategy.

Mobile platform

XTB Online Trading is also a latest-generation mobile platform that opens the doors of freedom to investors from all over the world. Xstation 5 is based on the software technology of MetaTrader 4, the benchmark for online trading platforms. The mobile version naturally relies on the strength of MetaTrader WebTrader, the developer’s web / browser version. A lighter version of the parent software that retains all its responsiveness and offers a level of performance equivalent to that of the browser version, Mac or PC. It has never been easier to use XTB forex anywhere, anytime. It is possible to set up email and SMS alerts on your client profile to be kept up to date with stock market news and account activity. Thanks to the mobile application, Xstation Mobile, which can be downloaded on iOS or Android, traders no longer miss any opportunities and manage their assets even more accurately.

Deposit and withdrawal methods

Nothing is simpler, from his verified customer area, than to deposit funds to carry out stock exchange operations. There is no XTB minimum deposit, or even a withdrawal threshold, imposed by the regulated broker. 4 currencies are authorised for incoming or outgoing transactions: Euro (EUR), US Dollar (USD), Canadian Dollar (CAD) and Swiss Franc (CHF). The money is automatically in one of these 4 currencies when it arrives on your XTB trader account. These two operations are possible via different methods tolerated by the interface: bank transfer, Visa and Mastercard credit cards, PayU and Paypal eWallets. If none of these methods is suitable for you, it is possible to fund your account by sending a bank cheque to XTB – 32 rue de la Bienfaisance – 75008 Paris. In practice, a number of negative feedback has been noted regarding the efficiency of deposits. Rather unpleasant delays are to be expected on the availability of funds following a deposit. Furthermore, the support service tries to compensate for this recurring shortcoming by processing withdrawal requests very quickly. There are no transaction fees for both withdrawals and deposits.

Customer support

Where some regulated brokers devote a little less attention to their customer service, XTB trading stands out very clearly with its high-quality, personalised support service. Expert trading advisers are recognised by users for their professionalism, availability and responsiveness, always providing a timely and appropriate response Support is available 7 days a week, 24 hours a day (24/7) on different communication channels:

  • live chat from the trader interface
  • a dedicated telephone line. For XTB UK : 33 1 53 89 20 10
  • email directly to the sales department commercial@xtb.fr
  • access to the English offices located at 32 rue de la Bienfaisance – 750008 Paris during their opening hours

Training

In our opinion X-Trade Brokers really makes the difference to the competition with its XTB Academy. This is the most successful XTB training programme on the market today. It is nothing less than a continuing education programme around the financial markets and online trading. We return for a moment to the stage of account opening. Transparently filling in your trader’s level allows us to offer you the most appropriate educational support possible. 4 levels are available: beginner, intermediate, expert and premium The modules in each personalised course are gradually unlocked based on initial knowledge, learning already acquired and trading history. At each level, new concepts are introduced to reinforce skills. New investment strategies are proposed for even greater profitability. XTB Academy is a solid foundation that traders can build on to achieve their financial goals. The necessary basis for an accurate understanding of the quality financial news broadcast daily on the website. Relevant and practical analysis is provided to users so that they can make the most of it XTB Exchange is a yield booster with proposals for sustainable and profitable financial investments.

Security

Several guarantees of seriousness and reliability are submitted by XTB concerning the security of accounts. As a partner of the BNP Paribas bank, trading account funds are segregated into individual accounts independent of the broker. In addition, the funds are guaranteed by the English broker’s subscription to the National Depository for Securities compensation scheme up to 100% up to €3,000 and up to 90% overdraft up to a limit of €22k. We must add the best personal data protection protocols such as 256-bit SSL. As well as the guarantee of high level banking protection with the help of the technologies used by BNP Paribas for online transactions, such as 3D Secure. With certifications from various regulatory authorities, including the Autorité des Marchés Financiers (AMF) in UK, we can affirm that XTB Online Trading is a broker offering great guarantees.

Account fees

Trading fees

The English broker ensures that it maintains exemplary transparency on the fees applied to the various trading operations. They are based on 3 main factors:

  • the type of XTB spread applied to the financial product traded. The spread is the commission taken by the broker as remuneration. It represents the difference between the purchase price and the sale price of a financial instrument at the time a position is opened
  • if you practice a swap, i.e. if you keep an open position overnight, charges are applied according to the type of market concerned. The short or long position (that you hold in the swap) is also taken into account
  • the type of account you have chosen is the last thing to consider. The more professional the type of account, the lower the brokerage fees

Non-trading expenses

With a slightly more aggressive pricing policy on brokerage fees than other regulated brokers, XTB can afford to exempt traders from account management fees. No fees for inactive accounts or on current transactions such as deposits, withdrawals or currency exchange fees between the reference bank account and the user account.

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Financial markets and products

What does the English CFD broker offer? It must be said that the platform offers a wide range of exchange markets and financial assets. It is one of the most complete offers at the moment. We find there :

  • the Forex XTB with 50 currency pairs on a global scale: EUR / USD for example
  • some twenty dynamic stock market indices such as the CAC 40 and NASDAQ
  • the most important raw materials such as gold, oil or gas
  • some crypto currencies with exciting prospects such as XTB Bitcoin or Litecoin
  • a wide selection of CDF shares of companies with promising stock market quotations

Conclusion

What can we conclude about XTB trading? Is it really an attractive and efficient online broker? Without any hesitation the answer is YES. The online trading platform has excellent arguments to put forward. A transparent price grid that remains competitive despite a slightly higher order weight than some competitors. A particularly incredible and rewarding internal training system. A fairly large and varied trading offer. A very efficient and friendly English XTB customer service. XTB Online Trading amply deserves its place among the best online brokers on the English market. A few improvements made on certain features, such as social trading, will only accentuate the strong anchoring of the intermediary in the stock market.

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