If you start searching for an online broker to start your trading career today, you will hear a lot of people talking about XTB. This broker has made quite a name for it in recent years. People have been admiring it from all parts of the world. But is the broker really that great? That’s what we are going to explore in this broker review. The intention is to go as deep into the details as possible so you can make a decision quickly after reading this review. So, without wasting any more time and words, here is a detailed review on XTB that should help you make a decision about signing up or not signing up with this broker.
Properly Regulated (Rating 5/5)
There is nothing more important than knowing the rating of an online broker before you sign up with it. You will be surprised to know that a huge population of online brokers is out there without any regulation. In many cases, you can say that the absence of regulation means that you are about to sign up with an online scam. They are going to take your money and disappear to never return. You will not be able to do anything about the situation because regulation protects you from it but you never signed up with a regulated broker. In the case of XTB, you can rest assured that you are signing up with a properly regulated broker.
What does it mean by properly regulated? Well, we are talking about a broker that has received proper regulation in all the regions of the world it operates in. On most occasions, you will notice that a broker is happy to be regulated by one regulatory authority. And there is nothing wrong about that. Being regulated by one well-known regulatory authority is enough. But if you get regulated by multiple regulating authorities, it just shows that you trust in your own services. So, you will be surprised to know that this broker is regulated in many different regions of the world by some of the most well-known regulatory entities.
If you talk about Belize, the broker has received proper regulation from the International Financial Services Commission. On the other hand, if you are looking for some regulation information in the UK, you will be glad to find out that Financial Conduct Authority is the body that regulates the broker in this region. There are other regulations as well, but you should know about these because they are from the well-known regulatory authorities of the world. Since you are signing up with a regulated broker, you can be sure that the money you deposit in your account will be maintained in segregated accounts as well.
An Asset Index to Beat (Rating 5/5)
We would have given it an even higher rating had there been that option. You have to realize that when online brokers offer you a lot of assets for trading, you have the perfect opportunity to diversify your portfolio. And don’t think that portfolio diversification is something limited and exclusive to advanced and professional traders. You can work on diversifying your portfolio right from the beginning. The only thing you have to do is to make sure that you keep your losses at minimum right from day one. You will hardly find another broker that offers you as many assets as this broker does.
It needs a special mentioning in this broker review that XTB offers you the opportunity to trade cryptocurrencies as well. What makes things even better is that you are not stuck with Bitcoin and Ethereum only, which is the case with most other online brokers. When you sign up with this broker, you will be able to trade Stellar, Litecoin, Ripple, Dash, and many other cryptocurrencies in addition to the usual suspects, i.e. Ethereum and Bitcoin.
At the same time, you have to realize that XTB is mainly a CFD broker. So, you will get access to a variety of financial markets from the same trading platform. You can trade the assets you like without having their ownership because that’s what CFD trading is all about. You do not own the asset but you can definitely make money off of the assets through these contracts called the contracts for difference, or CFDs for short.
Two of the Best Trading Platforms (Rating 4/5)
You have some online brokers that provide you with access to multiple trading platforms. The issue with those brokers is that they are offering you something, which is not special. When you compare the trading platforms they are offering, you will always find MT4 in them. Now, when you look at the user-interface and other options on MetaTrader 4, you find the other software very basic or outdated to say the least. On the other hand, you will not have any such feelings when you sign up with XTB and look at its trading platform. It is one of the best trading platforms out there.
The trading platform from the broker is called the XStation. On this online trading platform, you can customize things your way and make your trading platform yours only. You will never have to worry about any requites or dealing desks when you sign up on this trading platform. You will find all the important assets here, including metals, fuels, soft commodities, forex currency pairs, stocks, etc. The other trading platform rom this broker is the MetaTrader 4. Yes, it is the best trading platform to this day and you can’t beat it easily.
You have to admire the fact that the broker has made these trading platforms available on various devices as well. So, when you choose to trade with this broker, you will not be limited to trading only on your desktop computers, which is big, heavy and nearly immovable. You can trade on your smartphone, on the go and whenever you want.
The Sensibly Designed Trading Accounts (Rating 5/5)
You have to give full marks to the broker for designing its trading accounts with sensibility. Yes, you will find many other online brokers that offer you even more options with the trading accounts. On the surface, it seems better to have a lot of choices. However, the broker is not really helping you out when those options have not been designed intelligently. At times, you feel as though the broker is pushing you to sign up with an advanced account, in which you have to spend more money and the features included in it do not make any sense to you.
Through this broker review, we would like to bring your attention to the fact that you can open an Islamic account with this broker. Even with this account, you have the option to use leverages of up to 1:500 on your trades. If you want to make things easy for you, just go with the standard account. In this account, you will only have to look at the tight spreads from the broker. There are no commissions and fees on your trades for you to worry about when you are with XTB. There is no limit on which assets you can trade when you join the standard account.
You will be surprised to know that with XTB, you have access to more than 1500 different assets regardless of the type of account you pick. You can set up any of these three accounts without paying anything to the broker. Additionally, you can use XStation or MetaTrader 4, it is entirely your choice. You can enjoy cryptocurrency trading with this standard account without worrying about commissions.
When you look at everything that XTB has to offer to its traders, you have to agree that this broker is stronger than most other online brokers. Its features are not there for the sake of being there. They mean something and benefit the traders who join the platform of this broker from around the world every single day. If you have learned enough about XTB through this broker review, you are highly encouraged to make the final move and sign up with the broker if you wish to trade safely with a regulated online broker.