Our review of XTB broker: 4.5/5

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XTB in brief

Our opinion of XTB

We particularly liked XTB's proprietary platform, xStation 5, which combines an intuitive interface with powerful tools such as advanced charting, real-time performance analysis, and one-click trading.

The broad range of tradable instruments, including over 5,600 assets spanning forex, stocks, ETFs, and commodities, is another highlight that allows traders to diversify their portfolios with ease. Additionally, the availability of comprehensive educational resources, including a robust Trading Academy, positions XTB as an excellent choice for traders seeking to expand their skills and knowledge.

We would have liked to see support for popular third-party platforms such as MetaTrader 4 and 5, as their absence may deter some traders familiar with these systems. The lack of copy-trading features is another limitation for those who prefer passive investment strategies or social trading.

Who is XTB designed for?

XTB is best suited for self-directed traders, particularly those looking for a broker with a user-friendly proprietary platform, extensive market access, and a strong focus on education.

Let's find out more about our test results.

Security and reliability 4.7/5

XTB is a well-established online brokerage that has been in operation since 2002, making it one of the more experienced brokers in the industry. It serves a global client base, with over 500,000 active users in more than 13 countries.

XTB has received several accolades for its services, including awards for best trading platform and customer service, which highlight its strong reputation within the financial sector.

Regulations and Approvals
XTB is regulated by top-tier financial authorities, including:

• The Financial Conduct Authority (FCA) in the UK.
• The Cyprus Securities and Exchange Commission (CySEC).
• The Polish Financial Supervision Authority (KNF).
• The Spanish National Securities Market Commission (CNMV).

While XTB is not directly regulated by Canadian authorities like the OSC, BCSC, or ASC, its oversight by multiple international regulators ensures a high level of compliance with global financial standards.

Risk Management Features
XTB offers several tools and safeguards to help traders manage risk effectively:

• Stop-Loss Orders: Enables traders to set automatic limits on potential losses.
• Negative Balance Protection: Ensures that clients cannot lose more than their account balance, a crucial feature for retail investors.
• Margin Closeout Rule: Automatically closes positions to prevent further losses if margin levels drop below required thresholds.
• Educational Tools: XTB provides extensive educational materials, including risk management tutorials, to help traders make informed decisions.

Market and asset diversity 4.8/5

XTB is positioned as one of the leading brokers for asset and market diversity, offering a broad range of instruments to meet the needs of traders and investors. With access to over 5,600 instruments across multiple asset classes, including forex, commodities, indices, stocks, ETFs, and cryptocurrencies, XTB ensures ample opportunities for portfolio diversification.

The availability of both direct trading options (real stocks and ETFs) and CFDs (contracts for difference) enhances its appeal for various trading strategies.

Our opinion on the diversity of XTB's offerings

XTB outperforms the market average in nearly every asset class, particularly in the diversity of stocks, ETFs, and indices available for trading. The combination of real assets and CFDs ensures flexibility for traders looking to engage in both long-term investments and short-term trading opportunities.

Platforms and tools 4.5/5

XTB provides traders with its proprietary platform, xStation 5, which is designed to deliver a seamless and feature-rich trading experience. The platform is available on desktop, web, and mobile, making it accessible for traders on the go. Its intuitive interface, combined with advanced tools, caters to both beginner and experienced traders.

xStation 5 (Desktop & Web)

• Advanced charting tools with multiple timeframes, indicators, and drawing tools.
• Real-time performance statistics that help traders monitor their profit/loss, costs, and risk exposure.
• One-click trading for quick execution of trades, ideal for fast-moving markets.
• Integrated market news and economic calendar to stay updated on events that impact trading.
• Customizable layouts that allow users to tailor the platform to their needs.

xStation Mobile App

• Simplified navigation for trading on the go.
• Includes all key features from the desktop platform, such as charting tools, one-click trading, and performance tracking.
• Notifications and price alerts to help traders stay updated on market movements.

Analysis Tools and Decision Aids

• Market Sentiment Analysis: Offers insights into how other traders are positioning themselves in the market.
• Built-in Economic Calendar: Provides a detailed schedule of upcoming economic events and forecasts.
• Stock Screener: Helps traders filter stocks based on custom parameters, such as sector, market cap, and performance.
• Risk Management Tools: Includes stop-loss, take-profit, and trailing stop orders to manage risk effectively.

Specific Order Types

• Market Orders: For immediate execution at the best available price.
• Limit Orders: To specify the maximum or minimum price at which you want to trade.
• Stop Orders: Automatically executed when a specific price is reached.
• Trailing Stop Orders: Dynamically adjust based on market movements to lock in profits while limiting risk.

Fees, spreads and commissions 4.7/5

XTB is well-positioned in the market as a broker with competitive fees and tight spreads, especially for forex and CFD trading. It offers commission-free trading on real stocks and ETFs in some regions, enhancing its appeal for long-term investors. The broker's transparency in pricing and absence of deposit fees also make it a cost-effective choice.

Trading Commissions and Spreads

Below is a comparison of XTB's commissions and spreads for commonly traded assets against the market average:

Other Fees

• Deposit Fees: No deposit fees for most methods.
• Withdrawal Fees: No fees for withdrawals exceeding a certain threshold (varies by region); small fees for withdrawals below the limit.
• Overnight Fees (Swap): Competitive swap rates, varying based on the asset and leverage used.
• Inactivity Fees: €10 per month after 12 months of inactivity.

How is XTB's price positioning?

XTB offers highly competitive spreads, especially for forex and index CFDs, which are lower than the market average. The commission-free structure for real stocks and ETFs adds to its appeal for cost-conscious investors. While the inactivity fee could be a drawback for occasional traders, the overall fee structure is transparent and affordable. 

Customer reviews 3.7/5

XTB holds a Trustpilot rating of 3.7/5, based on 1,427 customer reviews, reflecting a mix of positive feedback on its platform features and competitive fees, alongside occasional criticisms about customer service and platform issues.

Here are some recent testimonials from Canadian users:

1. James P., Toronto (January 15, 2025): "I've been using XTB for almost a year, and I really appreciate the user-friendly xStation 5 platform. The charting tools are excellent, and trading forex pairs like EUR/USD with their tight spreads has been great. However, I did have an issue with a withdrawal request that took three days to process, which was longer than expected. Customer service was helpful but could be quicker."

2. Sophie M., Vancouver (December 10, 2024): "As a beginner, I found XTB's Trading Academy incredibly helpful. The videos and tutorials made learning much easier. I started with the demo account, which gave me a lot of confidence before switching to real trading. My only issue was the inactivity fee; I took a break for a few months and ended up being charged. It’s something to keep in mind if you’re not trading regularly."

3. Daniel R., Calgary (February 5, 2025): "XTB's platform is fantastic for trading CFDs. I trade indices like the S&P 500, and the spreads are consistently better than other brokers I've tried. That said, I had a glitch on the mobile app during a volatile trading session, which cost me an opportunity to close a position. Their team followed up, but I hope they improve app stability. Overall, I’m happy with their services."

How is XTB positioned in relation to its competitors?

Conclusion of our review on XTB

This broker stands out with its competitive fee structure, user-friendly proprietary trading platform, and a wide range of assets to trade. The availability of real stocks and ETFs alongside CFDs ensures flexibility for both long-term investors and active traders. Its strong regulatory framework, backed by oversight from multiple top-tier authorities, provides a high level of security for users.

However, traders who prefer third-party platforms or rely on copy trading may find the broker’s proprietary-only platform a limitation. Despite this, the combination of competitive spreads, robust tools, and strong educational resources positions this broker as a solid option for a diverse range of traders.

Before opening an account with this broker, compare the best brokers in Canada.

Before opening an XTB account, take the time to compare the best brokers in Canada.

What types of accounts are available with XT in Canada?

XTB offers a range of account types tailored to different trading needs, providing flexibility for both retail and professional traders. Below is a summary table comparing the key features of each account type:

Standard Account

The Standard Account is designed for retail traders looking for straightforward access to XTB's wide range of tradable instruments. With tight spreads and commission-free trading on stocks and ETFs, it is well-suited for beginner and intermediate traders. The leverage is capped at 30:1 to comply with regulatory standards for retail accounts, making it a safer option for less experienced traders. This account also includes all of XTB’s tools, such as risk management features and educational resources.

Professional Account

The Professional Account is tailored for experienced traders and high-volume investors who require enhanced trading conditions. This account offers tighter spreads compared to the Standard Account and higher leverage of up to 500:1, enabling advanced strategies and greater market exposure. Professional traders must meet eligibility criteria, such as significant trading volume or relevant financial knowledge. While swap fees are applicable, professional traders benefit from lower trading costs overall.

Islamic Account

The Islamic Account is a Sharia-compliant trading account designed for clients adhering to Islamic finance principles. It is identical to the Standard Account in terms of assets, tools, and features but does not include swap fees or any interest-based charges. This account is ideal for traders seeking a halal trading environment without compromising on functionality or market access.

Demo Account

The Demo Account is a practice account offering traders the ability to familiarize themselves with XTB’s platform and features. It includes $100,000 in fictitious capital and provides access to all available instruments, including forex, stocks, ETFs, commodities, indices, and cryptocurrencies. The demo account is valid for 30 days, allowing users to test strategies in a risk-free environment before transitioning to a live account.

These account types cater to a broad spectrum of trading preferences, ensuring that both retail and professional traders can find an account that suits their needs. The inclusion of an Islamic account and a demo account further enhances accessibility and inclusivity.

Deposits and withdrawals at XTB: How does it work?

XTB provides a solid range of deposit and withdrawal options, offering flexibility for users across multiple regions. The absence of deposit fees makes it competitive, particularly for traders looking to minimize costs when funding their accounts. Withdrawal fees are generally low but vary depending on the region and withdrawal method, which is comparable to other top brokers in the industry.

The instant processing for most deposits gives XTB an edge, as it allows traders to quickly fund accounts and take advantage of market opportunities. However, withdrawal fees on smaller amounts may deter occasional traders or those making frequent small transactions.

Overall, XTB’s deposit and withdrawal processes are efficient and transparent, making it a reliable broker for most traders while maintaining competitive features compared to its peers.

Does XTB offer copy trading?

XTB does not currently offer copy trading or social trading features. While these functionalities are popular among traders who prefer automated or community-based strategies, XTB focuses on providing a robust proprietary platform, xStation 5, designed for self-directed trading.

As such, there are no dedicated platforms for copy trading, no network of traders to copy, and no additional fees associated with such features. XTB instead emphasizes empowering traders to make their own informed decisions through its comprehensive educational resources, market analysis tools, and advanced trading features.

Traders seeking copy or social trading options may need to explore alternative brokers that specialize in these services. However, XTB's strong offerings in asset diversity, low fees, and platform functionality make it a compelling choice for traders who prefer independent strategies.

What is the tax treatment of income generated by XTB?

Income generated from trading with XTB in Canada is subject to specific tax rules that depend on the nature of your trading activities and the frequency of your transactions. These earnings may be classified as either investment income or business income, depending on your trading patterns and methods.

Applicable Taxation

• Capital Gains: If your trading activities are occasional and you trade as an individual investor, profits will generally be taxed as capital gains. In this case, only 50% of the gains are taxable and must be added to your annual taxable income.
• Business Income: If you trade frequently and systematically, your earnings may be classified as business income. In this case, 100% of your profits are taxable and subject to your marginal tax rate.
• Deductible Losses: Trading losses can be deducted from future gains. These can be classified as capital losses (offsetting future capital gains) or business losses, depending on your tax status.

How to declare trading income or revenues?

• Annual Tax Return: Report your trading income on your T1 General Form (Personal Income Tax Return). Investment income, including capital gains, should be included in the appropriate sections.
• Capital Gains Reporting: Use the T5008 (Statement of Securities Transactions) provided by XTB, or calculate your capital gains and losses manually on Schedule 3 of your tax return.
• Business Income Reporting: If classified as business income, report your earnings on the T2125 (Statement of Business or Professional Activities). This form also allows you to deduct eligible expenses related to your trading activities.

• Required Documents: Keep your trading statements from XTB, as well as records of deposits, withdrawals, and transaction history, to support your filings. These are essential for accurate reporting and in case of a CRA audit.

Points to remember

• All trading income must be reported in Canadian dollars. Convert any foreign income using the official exchange rates provided by the CRA.
• To ensure compliance and maximize deductions, consult with a tax professional familiar with trading and investment income.

Contact: How do I contact XTB's customer service?

FAQ

Nishadh Mohammed

Nishadh Mohammed is a seasoned news editor and financial writer, working with HelloSafe since May 2023. Nishadh has developed expertise in financial markets, insurance, and investment products, with a deep understanding of the Canadian financial landscape. He has honed his SEO skills and content marketing strategies while writing for Canadian publishing houses. Armed with a master's in Business Analytics and extensive journalistic experience, Nishadh uniquely combines data proficiency and thorough research to deliver comprehensive and accessible information.