XTB Review 2023

Our verdict

Our verdict

XTB is a popular European brokerage that’s starting to make an impression with UK retail investors. When using the app, we found it only takes 5 minutes to open an account, and the platform has a relatively straightforward interface that won’t overwhelm beginners.

XTB’s platform emphasises trading over investing, but if you use it with a long-term mindset, it has some great benefits. For starters, you can invest in stocks and exchange-traded funds (ETFs) with 0% commission. Also, there are over 3,000 shares from 16 global exchanges and a decent selection of around 300 ETFs.

We really liked how much is packed into the platform without it being overbearing. It looks pretty simple, but definitely packs a punch. However, it’s well worth trying the demo account first to get comfortable. Although there’s no minimum deposit and zero commission for stocks - the minimum transaction amount is £10.

Best for: Simplified training

Pros

• 0% commission on stocks and ETFs
• Register in 5 minutes
• Demo account available
• Excellent trading app
• No minimum deposit

Cons

• Emphasis on trading and CFDs
• £10 minimum trade value
• Large orders over £100,000 incur extra fees
• No fractional shares

★★★★★

Finder score

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Capital at risk

How we rated XTB’s investment features

Trading platform XTB has made a slight pivot away from what it’s best known for (forex and CFD trading, which it offers in other countries) and now offers UK retail investors an affordable way to invest in real stock and shares.

We’ll cover the key features and fees, explain what you can invest in with XTB, and share our expert insight on what we think about this share dealing provider.

What is XTB?

XTB is a European investing brokerage that’s been around for almost 20 years. The company itself is based in Poland and publicly listed on the Warsaw Stock Exchange (WSE), and it’s one of the largest exchange-listed brokers in the world.

XTB products

Sadly, XTB only offers a general investment account (GIA). This is a basic type of investing account that comes with no unique benefits or tax-efficient features, such as you’d get with an ISA.

With an XTB account, you can invest as much as you like. However, it’s important to be aware that any gains you make may be subject to tax.

What stocks can you trade with XTB?

With XTB, you can buy and sell stocks and shares in a variety of companies. In total, there are over 3,000 to choose from, so you won’t be short of choice. You’re not just limited to the UK and US stock markets either. The collection of stocks available comes from 16 global exchanges.

You won’t get full access to each of those global exchanges, but being able to pick from an international range of companies will help you to diversify your portfolio holdings. One downside we found when reviewing XTB was not being able to buy fractional shares. You have to purchase full shares, which can be quite pricey for some US stocks.

Along with individual stocks, you can also invest in over 300 exchange-traded funds (ETFs). An ETF is basically a basket of stocks. So with one single investment, you can invest in a whole bunch of stocks to give you some immediate diversity.

What are the XTB fees?

Overall, XTB is pretty cheap, and the fees are easy to understand. It doesn’t cost you anything to open and hold an account, which is ideal if you want to try out the platform before making it your go-to investing hub.

Also, there’s no commission to pay when buying or selling stocks – another tick. The only thing to be aware of is that there’s a minimum trade transaction of £10, which means you have to buy or sell at least £10 worth of stock with each trade.

If you’re buying European shares, the trade needs to be worth at least €10. This is calculated on screen when you choose the amount of shares and includes the 0.5% FX fee. The current exchange rate will make a difference to what €10 converts to in GBP.

For all investments not in GBP, you’ll pay a 0.5% FX fee based on the size of the trade. Keep this in mind when buying international shares from outside the UK.

The other thing to take note of is that if your trading transactions are over £100,000 in a month, there’s a 0.2% commission. This isn’t going to impact many people because most don’t trade over £100,000 every month, but it’s still worth knowing.

XTB tools and research

XTB does an excellent job of integrating plenty of tools and research into the platform without it feeling confusing or complicated. As a brokerage that emphasises trading, it offers many useful elements that you’ll have at your fingertips.

You can use different types of trading orders easily on mobile, but if you want to make the most of the advanced trading tools, it’s best to use the web or desktop app. That’s because the XTB mobile app is a simpler version of the software – you can still do a lot, but the other formats let you access the full functionality that XTB offers.

There are a few things in particular we liked on individual stock pages. When you find a stock, you can easily see the price movement with “candlestick” charts. And if you scroll down, you’re able to see stats covering the latest price movements along with relevant news articles.

If you press the small “i” in the top right corner, you can also view “basic info”, “key facts”, and “performance”. The key facts are great for a snapshot and show a stock’s:

• Market cap.
• Dividend yield.
• Net profit margin.
• EPS
• P/E ratio
• P/B ratio
• A few other metrics

It’s great to see all this at a glance (and for free). But where to find this info isn’t obvious. The small “i” in the top right-hand corner isn’t exactly prominent. It’s fine once you know where this is, but we think many users wouldn’t even notice it.

Along with the in-app tools and research details, XTB also offers a demo account to practise with first, and there are some helpful video learning resources. For people investing with XTB for the first time, we’d highly recommend watching XTB’s video: “How to place your first stock trade”.

XTB customer reviews

On Google Play, the XTB app scores 4.2 out of 5 with over 38,000 votes. And for the App Store, XTB scores an impressive 4.7 out 5 from more than 5,000 reviews.

Along with the positive app reviews, XTB has a 3.9 out of 5 “great” score on Trustpilot, although this is from less than 1,000 reviews (July 2023).

Is XTB safe?

Yes, XTB is regulated by the Financial Conduct Authority (FCA). XTB is also a member of the Financial Services Compensation Scheme (FSCS), so your deposits up to £85,000 are covered should XTB go bust.

Also, like most brokerages, XTB segregates your money. This means your funds are held separately to XTB’s, so your funds should be returned in the event of bankruptcy. The fact that XTB is a listed company also means that it has to be transparent about its financial health.

XTB CFD trading

XTB’s contracts for difference (CFD) offering is an important area worth covering. Previously, there was a significant emphasis on this aspect of trading, but XTB is moving its focus towards long-term investing – something we’re a big fan of.

Trading CFDs usually involves leverage, which means borrowing money to increase the size of your trades.

XTB is well-known for forex and CFD trading but you should avoid these services unless you’re an experienced trader who understands the risks.

When investing using XTB, it’s essential to ensure you select the right instrument type when buying an asset. For example, when you pick a stock, you’ll have to choose between 2 options. One will be listed as “STC” and the other “STC CFD”. Always check this before making a trade.

How to sign up for XTB

The sign-up process for XTB is dead simple, and it only took us about 5 minutes to complete using the app. Here’s the steps to follow:

1. Head to XTB. Find your way to XTB on the website or by downloading the app.
2. Choose a real or demo account. You’ll get the option to try out a demo account first, or head straight to the real platform.
3. Enter your details. You’ll need to provide your personal details and confirm your tax residency.
4. Supply KYC information. On top of this, you’ll also need to give XTB an idea about your employment and income details.
5. Wait for verification. It did take a few hours for the XTB team to review our application and open the account.

XTB vs eToro

Finder rating	★★★★★	★★★★★
Customer satisfaction rating		★★★★★
Stocks and shares ISA available?
FSCS protected?
Costs rating	★★★★★	★★★★★
Keep in mind	Capital at risk. 80% of retail CFD accounts lose money	Capital at risk. 74% of retail CFD accounts lose money
call to action	Go to site More Info	Go to site More Info

What does the XTB app look like?

Frequently asked questions

• Is XTB a reliable broker?

  Overall, XTB has a positive reputation. The only thing to be aware of is avoiding the CFD trading aspect if you don’t have much experience in this area.

• Is XTB good for beginners?

  It’s not the best platform for beginners, and we’d recommend using the resources available (or setting up a demo account) to learn the ropes. But, it’s definitely a share dealing account that doesn’t take long to get to grips with.

• What is the minimum deposit for XTB?

  There’s no minimum deposit to open an account and start investing with XTB.

• How much is the XTB withdrawal fee?

  XTB has no withdrawal fees, so you don’t have to worry about any charges when taking funds out of your account.

• How can you deposit funds with XTB?

  You can top up your account using a bank transfer, a credit or debit card, or with Skrill.

• Is XTB regulated in the UK?

  Yes, XTB is regulated by the Financial Conduct Authority (FCA).

• Does XTB have FSCS protection?

  Yes, XTB is a member of the Financial Services Compensation Scheme (FSCS), so deposits of up to £85,000 have complete protection. Keep in mind, this doesn’t cover the value of your investments dropping.