XTB is considered one of the most popular options for newbies in the foreign exchange market. With a high reputation for reputation as well as diverse trading support tools, XTB brings a safe and effective experience to users. Let’s explore XTB forex trading with XForex with the most basic and fastest XTB xStation platform!
The most basic XTB forex trading
Instructions for opening an XTB account
You can download the xStation application to your phone and register to open an account there. Or a way to open an account chosen by many investors is to do so directly on the XTB website. Below are the detailed steps:
- Visit the official website of the XTB exchange.
- Click the blue button “ Create Account ”: https://www.xtb.com
- Enter your email and select nationality. Then, check the 2 boxes below and click the “Next Step” button.
- Take turns filling in the information required in the next steps such as creating a password, filling in account information, current address, etc. Once you have completed this step, click “Next” to move to the next step… “Next”.
- After completing all the steps to fill in the information, tick the “I accept” button in the boxes and click next.
- The final step is account activation and verification: The verification process is conducted on the xStation application. Just log in to your account take a 2-sided CCCD as required and record a clear facial video.
>>>See more: Instructions on XTB open account steps quickly
How to log in to your XForex account
Before you want to apply for XTB forex trading, you must be able to log in to your account. Specific steps include:
- Visit the official website of the XTB exchange. Then, click the “Login” button at the top right corner of the home page => Click “XSTATION 5 REAL/DEMO”.
- Enter your email and password then click “Login”. If you forget your password, click “Forgot password”.
- Next, the xStation 5 platform will launch. If you have multiple accounts, you can click the menu button in the top right corner of the interface to select the account you want to trade.
Instructions on how to deposit XTB
XTB exchange provides traders with many XTB deposit channels such as cash Visa/Mastercard, domestic ATM, Neteller, or Skill. The steps include:
- Step 1: Log in to the xStation 5 platform and select “Deposit”.
- Step 2: Click on the trading account you want to deposit money to.
- Step 3: Choose the deposit method (payment gateway). Fill in your bank information and XTB account number information. Depending on each payment method, there will be a corresponding deposit process. You just need to fill in the content in order.
Instructions on how to withdraw XTB money
- Step 1: Log in to your account on xStation. Then, click “Withdraw”.
- Step 2: Select the XTB account you want to withdraw money from => Enter the amount you want to withdraw => Click “Withdraw” => Select the bank account you want to receive money from.
- Step 3: Check the information about the amount you want to withdraw and the account to receive the money, then click “OK”. At this time, the system will process your withdrawal request and send a confirmation message. Click “OK” to complete the request and wait for the system to process.
XTB forex trades effectively with the XTB xStation platform
After logging into your account and making sure you have money in your account to trade, here is the effective XTB forex trading with the XTB xStation platform that you need to know:
Select XForex product
XForex offers extremely diverse trading products with more than 4000 currency pairs, ETFs, commodities, stocks, and other virtual currencies. While investors may not have enough resources and time to fully participate. Especially new traders need to limit the number of trading products to manage their accounts well.
- The products most chosen by many traders are stock indices. Prices of indexes fluctuate according to the growth rate of the economy.
- Forex currency pairs depend on central bank policies. Investors must choose 1 coin to increase and 1 coin to decrease.
- Cryptocurrencies are emerging products, with price fluctuations and little stability.
- Stock CFDs/ETF CFDs are for traders with little time.
XTB forex trading with buy and sell orders
You just need to click the “New Order” button in the toolbar or right-click on the chart and select “New Order”. On the order board, you can choose the volume you want to trade, and set the take profit (TP) and stop loss (SL) levels. Finally, click the Sell or Buy button.
In particular, xStation has special features to support your transactions optimally such as:
- Calculator: helps you calculate Spread, margin, commission fee, Swap fee,…
- Copy trading: The copy trading feature allows users to automatically copy trades from other professional traders to their accounts. Unfortunately, XTB currently does not support the XTB copy trading feature.
Transaction management
After placing an order, you should observe how the market behaves. You can then make changes if desired:
- Add/change TP or SL price level: Drag the TP/SL icon on the chart to the expected price level.
- You can add another order like the old one or reverse the order by clicking the icons to the right of the open order (in the order panel).
Close the trade on XTB xStation
Profit and loss results will be determined when you close the order. You can close an order extremely quickly by clicking on the red X in the last position corresponding to the pending order (the Pending Orders tab is in the order panel).
>>>See more: Find out the latest information about the XTB Trading
An overview of the XTB xStation interface for newcomers
To be able to execute trading orders on the XTB platform from simple to proficient, you must know the symbols and terms on the interface of the XTB xStation application. Include:
Trading products – Area on the left side of the screen
Include:
- FX: Forex currency pairs.
- IND: Index.
- CMD: Commodities.
- CRT: Cryptocurrency.
- STC: Stock.
- ETF: Fund investment.
Graph – Area on the right side of the screen
The left column next to the chart contains tools to support analysis on the chart, including:
- Layouts: used to select layouts.
- Indicator: indicator.
- Crosshair: determine the price and time at a specific location.
- Lines: supports drawing trend lines, vertical, and horizontal.
- Shapes: includes squares, circles, ovals,… used to mark charts.
- Fibonacci: measure.
- Text: enter note text, highlight Elliott waves, and up and down arrows.
- Compare charts: compare multiple charts on the screen at the same time.
The toolbar is in the top middle
Contains advanced tools to help traders analyze charts more accurately. Specifically includes:
- Charts: Open the chart in another tab for easy viewing.
- News: provides the latest news, selectively compiled.
- XTB Calendar: includes a calendar of important economic events.
- Market Analysis: analyze the market and trends corresponding to each product.
- Other tools.
Command panel – Bottom area
Contains commands and command history. Specifically:
- Open positions: Open positions.
- Pending order: Orders waiting to be matched.
- History: history of all closed orders, both profit and loss orders.
- Cash Operations: Deposit and withdrawal activities on XTB.
Above, XForex has provided investors with all the most basic and easy-to-understand information about XTB forex trading. Hopefully, through this article, traders new to the exchange can quickly access the trading platform on XTB. Good luck!
FAQ
What types of orders are available when trading on XTB xStation?
When learning about XTB forex trading, you need to understand the basic order types: Buy (Buy order), Sell (Sell order), Limit/Stop (Pending order), TP (Take profit order), and SL (Stop loss order).
What should you keep in mind when trading on XTB?
The most important thing is that you need to clearly understand the type of product you want to trade. Set rules for account management, avoid risks, especially do not overinvest. Besides, you also need to monitor market information and continuously improve your trading knowledge.
What resources should people new to trading on XTB read?
There are many courses and documents for new traders on XTB, helping you quickly grasp the necessary knowledge. Specifically, articles on the XTB homepage, instructional YouTube videos, and a number of websites and blogs about foreign exchange trading.
