It is quickly becoming one of the most competitive and popular brokers around. It provides access to various markets, which we’ve discussed.
X-Trade is regulated by five financial bodies, including the Financial Conduct Authority. Clients from all over the world are welcome, except if you’re from the US and a few other countries.
We’ve discussed the company in-depth in our review below.
Does XTB Accept Traders From the UK?
XTB LTD, which is regulated by the FCA, only accepts traders who are residents of the United Kingdom. If you’re from the EU and want to use the broker, you’ll have to use XTB CYPRUS. Canadian clients can make use of X-Trade’s French branch.
Unfortunately, the site doesn’t accept clients from certain countries.
XTB INTERNATIONAL is only available to those outside the UK and EU, and to those who don’t fall into the list of countries above.
X-Trade Brokers Review
We’ve discussed everything you need to know about the site below.
Markets
XTB is mostly used to trade CFD and Forex. Its selection of CFDs is on par with rivals like eToro and Trading 212.
There are 49 currency pairs, 42 stock index CFDs, 1,800 stock CFDs, 114 ETF CFDs, 22 commodity CFDs, and 25 cryptos.
The number of cryptos the site offers is more than that of eToro and Trading 212. They both offer just 16.
X-Trade doesn’t allow you to change the default leverage level of its products. This can be a major drawback.
Stock Trading
You can trade ETFs as well as real stocks if you’re an EU client who is not in the UK, Cyprus, Hungary, or Italy.
There are 17 stock products and 220 ETFs available. Even though the selection of stock products is decent, the number of ETFs is not ideal.
Trading 212 and eToro offer 7 and 17 stock products respectively. Although the 220 ETFs XTB offers are less than ideal, eToro and Trading 212 don’t fare any better. Trading 212 offers 200 ETFs, while eToro only offers 145 of them.
Trading Platform
You can utilize either xStation 5 or MetaTrader 4. xStation 5 is X-Trade Broker’s custom platform. MT4 is a third-party option.
xStation 5 is available in many languages. They include:
- Arabic
- Bulgarian
- Chinese
- Czech
- English
- French
- German
- Hungarian
- Italian
- Japanese
- Polish
- Portuguese
- Romanian
- Russian
- Slovenian
- Spanish
- Thai
- Turkish
- Vietnamese
Let’s talk more about X-Trade’s custom platform.
Design
You might feel intimidated by xStation 5 at first glance. It looks like a trading platform designed for professionals. However, once you start using it, you’ll realize that it’s not too complicated. You can also easily customize it.
Asset Searches
There are two ways you can search for assets on ‘Market Watch’.
- Click the product name in the search bar
- Go through the different categories and products available. Let’s say you want to trade a US stock CFD. You have to click on the specific stock type and then the US.
Placing Orders
xStation 5 comes with a trader calculator. You’ll be able to calculate the margins, commissions, and the other parameters of trades.
The order types available are:
- Market
- Limit
- Stop
- Trailing stop
Login
Logging in doesn’t take long. It’s a one-step process. Just know that a two-step login would be more secure.
Notifications
Notifications and alerts can be sent through email or SMS. In terms of what you can use this feature for, they include margin calls, deposits, withdrawals, and closed positions.
Portfolio
The platform provides clear portfolio and fees reports. They’re available under the ‘History’ tab. Daily reports via email can be sent to you as well.
Mobile Trading
Mobile trading can be done either through xStation 5 or MetaTrader 4. Mobile trading is possible on both Android and IOS. You’ll be able to trade in as many languages as you like on the web trading version.
Design
The XTB mobile app is well-designed and user-friendly. You’ll easily be able to find any feature you want.
Login
Only one-step login is available. A two-step login would be more secure. However, you can set up fingerprint authentication which is a bonus.
Search Function
All you need to do is type the name of the product in the search bar or browse the different product categories.
Placing Orders
The same order types as the web trading platform are available:
- Market
- Limit
- Stop
- Trailing stop
Alerts
The app lets you set as many alerts and notifications as you want. This includes notifications for market news and price changes.
Deposits and Withdrawals
The account base currencies available are below average compared to rivals. The only major currencies available are USD, EUR, and GBP. XTB’s less popular currency accounts are HUF and PLN.
If you’re new to trading, you may be wondering why the number of currency accounts matters. When you fund your account or trade assets in the same currency as your bank account, you don’t have to pay conversion f