XTB Review - Overview
XTB are an international CFD broker with an award winning front end and slick MT4 option. FCA regulated and therefore protected by the £50,000 Financial Services Compensation Scheme, your money is safe with XTB.
Their xStation 5 front end is our favourite in the CFD space. It is beautifully put together by people who clearly understand the needs of traders and contains all of the tools, indicators and oscillators you could need. On top of that, it also has extensive trade analysis features, a like news feed and squawk box and an economic calendar built right into the platform.
We both trade with XTB because they are an STP broker operating a No Dealing Desk Model. Their only incentive is to help us keep trading profitably in order to benefit from our trading volume - unlike some brokers they don't profit from our losses.
XTB is the Recommended CFD Broker of Two Blokes Trading
XTB Review - Products and Spreads
XTB offer 3 core accounts. The Pro account is the most popular account and the one that we both use and recommend. It has a spread + commission set up (like most STP brokers) and is their best account for all round value. The spreads are very low and the commission often the equivalent of less than a pip per trade.
The other two options - ‘Basic’, only available to UK and Ireland users, and Standard Floating are slightly different. The Basic account is actually a B Booking account. It has higher spreads but also guaranteed stops and instant execution. This may appeal to some new traders who want to limit their risk, but we do not recommend it. The Standard Floating account has variable spreads with no commission. It is simpler and maybe more familiar to spread betters, but it it actually works out as more expensive per trade.
Their ‘Pro’ account is the obvious choice in our opinion. The 'Pro' name comes from the fact that it is true market execution. You can see the market depth on your selected product. The charges are slightly different to a spread only account, but good value. On EURUSD the spread is very low - 0.2 pips - and you pay £2.50 in commission per contract traded. If you trade 0.1 contracts then the commission is £0.25 etc. This is actually incredible value when you think that as an A Book broker they only make money on the spread and commission, not from your losses. They are never on the other side of your trade - your trades are always passed into the true market.
XTB Review - Interface and Platforms
XTB have created one of the most powerful proprietary trading platforms in the CFD industry. xStation 5 is, in the opinion of Two Blokes Trading, the best front end on the market. There is an MT4 option for people who like that platform or need it to use Expert Advisors.
XTB’s xStation 5 was recently upgraded from xStation 4 and we believe that it is doing things that other brokers simply are not. Of course they have an entirely comprehensive set of indicators and tools, but their analysis features beat anything I have seen elsewhere. By breaking down your trading into a series of graphs and charts - all pulled automatically from your results - XTB offer most of the features of a fully fledged premium trading journal!
The key to profitable trading is ongoing analysis of your performance. xStation 5 offers you the opportunity to do this right within their web app without needing to open up any other software.
The trading functionality is also second to none. The ability to place trades, stop losses and targets by just clicking on the chart, without even looking at a trading ticket, is just one of the many featured options that set XTB apart from the competition.
Understandably, xStation 5 won Best Trading Platform 2016 as awarded by the Online Personal Wealth Awards.
XTB Review - Service
XTB are based out of Poland but operate with offices around the world, including a fully FCA regulated hub in London. They have 13 different national offices with local language services in each. from Warsaw they now operate out of 13 different countries, with local language services in each. They operate a 24/5 phone support service, so you can always get in touch when the markets are open. They also have a chat-box help feature for small inquiries. Customer service is friendly and knowledgeable and always happy to help.
Transparency is key to the XTB business model and as such XTB London operates an open door policy. They encourage you to literally go to their Canary Wharf office and have a look around! We've both been, you should try it to!
XTB Review - Safety
XTB is fully FCA regulated and covered by the Financial Services Compensation Scheme. They are the 4th largest publically listed CFD broker in the world, having been publicly floated on the Warsaw Stock Exchange. They hold client money in segregated accounts and do all the things you would expect from a responsible broker!
XTB Review - Conclusion
XTB are an STP broker with a powerful and well designed front end. They have analysis and monitoring tools that you cannot find elsewhere without paying a premium for them and this really does set them apart from the competition. Their low spreads and commission and excellent trade execution gives you a leg-up in becoming and staying profitable. With friendly customer service and an open, transparent attitude, they are a large and growing presence in the CFD trading space. TWo Blokes Trading are very happy to call them our recommended CFD Broker.