XTB is a leading and reputable Forex & CFD broker today. The exchange provides customers with more than 5,400 types of trading products. Including stocks, ETFs, indices, commodities, and cryptocurrencies. XTB also has an exclusive xStation 5 trading platform, highly appreciated by professional and beginner traders. In this article, XForex will provide information on many different aspects of the XTB Trading review platform.
XTB Trading review provides a detailed assessment of the exchange
What is the XTB exchange?
XForex is a Forex & CFD broker founded in 2002 in Poland. Currently, XForex is present in more than 10 countries around the world, including England, Germany, France, Spain, Poland, Turkey, Chile and Vietnam. XForex is a company listed on the Warsaw Stock Exchange with the code XTB. XForex has more than 781,000 customers worldwide and is supported 24/5 by a team of professional staff.
Review What accounts and trading platforms does XTB have?
Account types
XTB Trading review provides customers with two main account types: Standard and Pro. The Standard account does not charge commissions but has wider spreads than the Pro account. Pro accounts charge commissions from 3.5 USD per lot traded. Pro account spreads are lower than Standard accounts. Both account types have leverage up to 1:500 (depending on country regulations) and have no swap fees.
In addition, XForex also provides customers with several other account types such as:
- Islamic account: this is an account type that does not charge swap fees for Muslim traders.
- Demo account: is a free account type that allows traders to test trading strategies on the xStation 5 platform with virtual money up to 100,000 USD.
- Real account: is a type of real account that allows traders to trade on real markets with real money. To open a Real account, traders need to deposit a minimum of 250 USD or equivalent.
Trading platforms supported on XTB
XForex offers its customers an exclusive trading platform called xStation 5. xStation 5 is an online trading platform, accessible via a web browser, download XTB xStation to a PC or mobile application. Some outstanding advantages of xStation are as follows:
- Trade directly on charts with over 50 technical indicators and analytical tools.
- Shows market depth with the number of buy and sell orders of other traders.
- Provides risk management support tools such as trader calculators, performance statistics, and sentiment indicators.
- Update market news, technical and fundamental analysis, and daily video reports.
In addition to xStation 5, XForex also supports customers trading via the MetaTrader 4 (MT4) platform. A popular trading platform and is trusted by many traders. MT4 has features such as:
- Robots capable of automatic trading (Expert Advisors).
- Use technical indicators and customized analysis tools.
- Supports many types of trading orders such as pending orders, stop loss orders, and take profit orders.
- Connect with trading signal providers (Signal Providers).
Is XTB a scam? XTB Trading reviews the reputation of the exchange
Recently, on many forums, there have been false rumors related to information about XTB being a scam. Although XTB has affirmed its quality as the leading forex exchange today. Let’s take a look at some clear evidence of XTB’s transparency in the following content.
Evaluate XTB forex review through its achievements
XTB Trading review – XForex is not only recognized by regulatory agencies but also highly appreciated by reputable organizations and traders around the world. XForex has achieved many prestigious awards and titles.
- Top European Forex & CFD Broker Award 2020 by Global Banking & Finance Review.
- Best Forex & CFD Broker 2020 Award given by Wealth & Finance International.
- Best Trading Platform Award 2019 by Online Personal Wealth Awards.
- Best Forex & CFD Broker Award 2019 awarded by International Business Magazine.
In addition, the exchange also achieved many outstanding results in applying technology and securing user accounts. Such as using advanced security technologies such as SSL encryption. Two-factor verification, protection against DDoS attacks. Store customer funds at reputable banks and separately from company funds.
What licenses does XTB have?
XForex is a reputable and transparent Forex & CFD broker. XForex does not scam customers, the reputation of the exchange has been proven.
The exchange is supervised and licensed by reputable regulatory agencies such as the Financial Conduct Authority (FCA) of the UK, the Cyprus Securities and Exchange Commission (CySEC) of Cyprus, Komisja Nadzoru Finansowego (KNF) of Poland, and the International Financial Services Commission (IFSC) of Belize.
Comply with regulations on customer protection such as applying compensation policies when the company goes bankrupt, complying with Negative Balance Protection (NBP) principles, and classifying customers according to level of experience and risk.
Prices of traders reviewing XTB exchange
In addition, XForex also received many positive reviews from traders on reputable websites such as Trustpilot, Forex Peace Army, Broker Chooser, and TradingView. According to Trustpilot, XForex has a score of 4.3/5 based on more than 3000 customer reviews. Traders praise XForex for its professionalism, customer support, trading platform, and trading conditions.
XTB Trading reviews the notes that traders need to pay attention to when trading on the exchange
Before deciding to trade on the XForex exchange. Traders need to pay attention to a few notes:
- XForex is a Forex & CFD broker. This means that traders do not own the trading products but only trade their price fluctuations. This can bring high profits but also high risks.
- XForex applies a Negative Balance Protection (NBP) policy. This means that traders’ account balances cannot go negative when encountering adverse market fluctuations. However, NBP only applies to individual customers. And applies to professional investors.
- XTB Fees does not charge commissions and spreads vary for each account type and each type of trading product. Traders need to carefully review the exchange’s fee table before trading to calculate costs and profits.
- XForex has 24/5 customer support in many languages, including Vietnamese. Traders can contact the exchange via phone, email, online chat, or social networks.
Thus, the article on XForex has an overview of the XTB Trading review platform. Features, trading mechanisms, policies, and outstanding achievements that XTB achieved. At the same time, you can evaluate the reputation of the exchange through the fact that the exchange is managed by major financial agencies. Hopefully, this can help traders gain an objective view of the exchange. Thereby, you can choose for yourself a quality brokerage exchange to trade.
FAQ
What is Negative Balance Protection (NBP)?
XForex applies a Negative Balance Protection (NBP) policy. This means that traders’ account balances cannot go negative when encountering adverse market fluctuations.
Is the XTB exchange a scam?
XForex is a reputable and transparent Forex & CFD broker. XTB does not scam customers, its reputation has been proven in the market.
What are the popular account types on XTB?
XForex offers customers two main account types: Standard and demo.
