XTB is a famous trading platform in the international financial market. However, when entering the Vietnamese market, it was considered a scam and an illegal operation. Even though those rumors are just from a few individuals, no articles or experts are confirming it, but they still make the trading community worried and afraid when trading with XTB. So actually Is XTB legit? Let’s find out with XForex .
Is XTB legit? Based on what to confirm?
XTB was launched in 2002 and has now been in operation for more than 20 years. This time brought XTB a lot of fame and was trusted by many customers. But newbies who do not have much knowledge about this Forex exchange, are quite worried and afraid of being scammed. To answer the question of whether the XTB exchange is reputable, let’s dig deeper with us.
Based on the operating license proving that Is XTB legit
All Forex exchanges in general, not just XTB, if you want to know if the exchange you are participating in is reputable, you first need to see if that exchange operates legally. And XTB is an international trading exchange, recognized by many financial institutions.
The exchange received countless licenses from organizations such as FCA, CySEC, IFSC, KNF, CNMV, FSC, and DFSA. These are all the world’s leading financial institutions, and the exchanges that have licenses from these organizations are all reputable. Of course, XTB is also a reputable exchange, operating legally.
See more: XTB Review – Advantages and disadvantages when trading
Extremely good customer protection policies of XTB exchange
Besides a series of licenses from financial institutions. XTB also has customer protection policies, bringing the most benefits to traders. Specifically, those policies are:
- Traders’ deposits are kept in a bank account separate from company funds. XTB Exchange is not allowed to use traders’ funds for any purpose.
- You will be compensated up to £85,000 by the exchange if you go bankrupt. This amount is paid by the FSCS Financial Services Compensation fund.
- In case XTB is unable to pay or pay. According to CySEC rules, you will be paid up to 20,000 euros.
- When you maintain a balance of 20,000 USD in your account. Then you will be insured by LLOYD’S for a maximum amount of 1 million USD if XTB goes bankrupt.
Through these protection policies, there is no longer any doubt about the reputation of the XTB exchange. Because if it wasn’t reputable, it wouldn’t offer so many customer protection policies.
See more: Simple instructions for XTB sign-up on your phone
Evaluate the XTB exchange through the awards achieved
To know if the XForex exchange is reputable, we can also rely on the awards and achievements that the exchange has achieved. After more than 20 years of operation, XTB has achieved many prestigious awards. Typically, in recent years, XTB has received awards such as:
2019:
- Invest Cuffs awarded the award “Best Forex trading platform Bala”.
- Rankia Awards voted it as “Best Mobile Application”.
- Technical Analysis Exhibition awarded “Best order execution broker”.
2020:
- Rankia Awards awarded “Best Forex trading application”.
- Signed an agreement with football coach Jose Mourinho to be a brand ambassador for XTB.
2021:
- Annual Review awarded the title “Best Customer Service”.
- Online Personal Wealth Awards awarded “Best NDD Forex Broker”.
- Investopedia awarded “Best Forex Broker”.
There are many more awards that XTB has received. Almost every year the XTB exchange receives awards from large companies and organizations around the world. So there’s no reason to doubt I’m Is XTB legit.
Is XTB Forex as good as rumored?
XTB Forex offers a wide range of quality trading services and products. The exchange also supports transactions on many markets such as foreign exchange, stocks, cryptocurrencies, and commodities. This helps you have more investment opportunities and make profits more easily.
XTB provides users with a modern, easy-to-use trading platform. With the platform interface that XTB provides, you can make transactions conveniently and quickly.
In addition, newbies can also learn knowledge. through the educational services that XTB provides. Thanks to trading courses taught online. There are guidance documents and market news updated daily. You can capture market information as soon as possible and analyze the market accurately.
Therefore, the news from some individuals saying XTB scams is unfounded. XTB is good, it is a trading exchange that everyone should join.
Is XTB legit when operating in Vietnam without a license?
Although XTB Forex is licensed and recognized by many organizations around the world. However, in Vietnam, the exchange does not have a license from any organization. So traders all have the same question: Is XTB legit? Not only XTB but all exchanges like Exness, XM, ICMarkets… do not have it. Because Vietnam does not have any financial institution licensing this activity.
So when playing XTB in Vietnam, it will not be within the scope of Vietnam’s support. But don’t worry, XTB will support you with every problem. If you have any problems, you can contact us via online chat, email, or hotline to meet a support staff.
Advantages of the XTB Trading platform
XTB is considered a “big man” in the foreign exchange industry. Has more than 20 years of experience in operation. To achieve today’s success, XTB Forex has constantly tried. The exchange always gives customers the best and most beneficial things. Specifically, when trading on XTB, you will notice that the exchange has advantages such as:
- Reliability and safety: XTB is licensed and supervised by many of the world’s leading financial authorities.
- Providing a wide range of trading assets: XTB offers a wide range of trading products, including Forex, stocks, indices, commodities, and cryptocurrencies.
- Trading Platform: XTB offers a single trading platform, xStation. It is superior and supports many features and analysis tools…
- Low trading fees: XTB has low trading fees and competitive spreads.
- Education and consulting: XTB offers educational materials and Forex courses. To help newbies get started easier. At the same time, it helps traders improve effective trading skills.
- Customer service quality: XTB supports customer service through many communication channels such as phone, email, and online chat.
Market evaluation capabilities: XTB provides tools and materials to help you monitor and evaluate the market effectively.
Is XTB legit .? With many advantages that not every exchange has
Disadvantages of XTB exchange
Besides the advantages, the XTB Trading platform also has some disadvantages. This is shared by the user XTB broker review:
- Few trading platforms: Currently XTB only offers one platform, xStation. Although it still meets the needs of traders. But there are no other options for traders who want to “change things up”.
- Limited trading accounts: XTB also only has one trading account, Standard.
Is XTB exchange a scam Forex exchange?
From a professional perspective, XTB is a large foreign exchange platform. Long-standing operation, licensed by many financial agencies. So, if you consider the XTB exchange a scam, it doesn’t seem right.
Not to mention the exchange is still listed on international stock exchanges. That proves that XTB Forex operates transparently and reputable. The information that XTB is a scam has not been confirmed by any authorities. This could be due to a mistake or a rumor spread by competitors.
Epilogue
Above, XForex has answered your questions about whether Is XTB legit. Through here, you can see that XTB operates transparently, and legally, and has won many awards. In conclusion, the reputable XTB is opening an account and planning to trade.
FAQ
In what year was XTB born?
XTB was launched in 2002 and has now been in operation for more than 20 years.
Does XTB have a support service for its customers?
Yes, XTB is ready to support traders when encountering problems. You can contact us via hotline, email, or online chat.
Is XTB legit?
Yes, XTB is a reputable exchange. The proof is having licenses from many financial institutions, achieving many major titles and awards, and having customer protection policies…
