XTB

XTB is a Polish multi-asset broker, offering not just FX and CFD products, but also unleveraged stocks and ETFs, as well as savings plans. XTB is listed on the stock exchange in Poland. However, this review will focus solely on their FX and CFD side of the business.

The broker has an impressive range of local offices around the world and holds an assortment of licences, including their main global licence in Belize, and additional licences in Poland, Spain, and the United Kingdom.

XTB offers a very broad selection of FX/CFD products. They provide an extensive range of FX pairs, a wide selection of indices, some cryptocurrencies, and commodities. They also offer a considerable variety of US shares and ETFs.

They operate their own trading platform called the “X Station 5”.

XTB is one of the brokers we reviewed where it does not feel as though their main product is the FX/CFD business, but rather their investment and savings plans.

XTB is one of those brokers with a strong “boots-on-the-ground” presence in many locations. This means they offer significant multilingual support, which is rarely seen with other brokers.

Their home-grown platform is another positive feature, especially at a time when most brokers simply offer the standard MT4 and MT5 platforms.

XTB does not score well on our TraderGuide scoresheet. They offer variable spreads, and those spreads are relatively wide for stock indices. For instance, their DAX spread during regular trading hours can be as wide as 2.70, which is high compared to some brokers that offer DAX spreads as low as 0.90.

They score better when it comes to FX products, but even here, some products are more than three times as expensive as those offered by other brokers.

XTB has a solid reputation. They have an excellent selection of products for trading, saving, and investing – although the saving and investing aspects fall outside the scope of our concerns at TraderGuide. They have invested heavily in establishing a regional presence in numerous locations, allowing them to provide customer service in many languages.

XTB’s Home-Grown platform is a notable strength. Few brokers develop their own platform; most rely on leasing MetaQuote’s MT4 and MT5 platforms. XTB, however, has chosen to create its own, and we appreciate this effort.

However, XTB does not rank LOW on TraderGuide’s ranking list. You should be mindful of this if you decide to trade with them. If you open an account with XTB, you will be trading with a company that has genuine regulatory oversight. This is important for some traders who prioritise working with regulated brokers over those with tight spreads.

Overall, XTB is a reputable company, but they are highly uncompetitive in terms of the cost of executing FX/CFD trades. At the end of the day, we believe that the cost of trading is the most important factor to consider when selecting a broker for day trading and swing trading.