Review of ForexTB (PatronFX)
XTB broker (PatronFX) is a trade offer in over 50 currency pairs, indices, commodities, and stock exchange CFDs, as well as many ETFs through the standard MetaTrader 4 industry, as well as on a proprietary online medium. Our XTB review aims to cover everything important.
Behind the brand of XTB forex is a Cypriot investment company (CIF); it has a license of the Cyprus Securities and Exchange Commission. Our XTB review shows an office in Poland, which is part of the XTB organization.
The group has a British unit, which is regulated by FCA. Our XTB review shows the financial supervision committee governs its other subsidiaries in Poland (KNF). Moreover, X Trade Brokers Dom Maklerski SA has enrollment in the Warsaw Stock Exchange (GPW: XTB). It adds additional clarity to the finances.
CIFs have to notify to the Commission regularly and have at least EUR 730,000 as a record of their economic stability. XTB forex qualifies on that front.
They also need to maintain clients' funds on segregated accounts. And on the ForexTB (PatronFX) market informs that all customer money is safe in a Polish bank of mBank, separated from the operational funds of the company.
XTB Review: MT4 and Platforms
XTB MetaTrader 4 is one of the most widely used when it comes to the XTB broker. In addition to XTB MT4, they have their proprietary software that is called xStation 5. The MT4 is the most common because it has about 80+ indicators, three chart layouts, nine timeframes, over 36 languages, and allows Expert Advisor tweaking.
The XTB review research shows that xStation 5 is equally robust and has things like technical analysis tools like RSI, moving averages, and others. With it, you can compare charts and check stats quickly.
The XTB broker’s software allows you to have a glance at other traders’ market positions like the number of buy positions in comparison to the sell positions. The platforms will let you all the freedom you need to trade better.
Our XTB review research finds that they have fixed spreads and commission pricing. The pricing models differ depending on the instrument you are trading. The pro account gives you the lowest spreads. For example, the EUR/USD pair has spreads as low as 0.2 but with an added small commission.
The standard account has a fixed spread at 0.8 for the EUR/USD pair and no commission charge. All the stocks and ETF CFDs have a fixed commission at 0.08% per lot across all types of accounts.
The cryptocurrencies fall under the standard account and are not charged commissions. The pro account holders are charged GBP 2.5 commission for every crypto trade. XTB broker does not have any hidden charges that may blindside you.
XTB Review of CFD
Besides, CySEC applies a compensation system as an additional guarantee for clients' funds. All licensed and best forex brokers are members of the Compensation Fund for Investors. It can cover a maximum of EUR 20,000 per person in the event of a broker's insolvency.
Besides, since Cyprus is part of the European MiFID regulation, all regulated by CySEC can operate in all EU Member States.
XTB forex broker operates under CySEC offering currency trading and CFDs on two robust trading platforms. It is part of the XTB group of companies, and its product portfolio is rich, and commercial terms are attractive.
Our XTB review shows they offer customer support in the following languages: English, Spanish, Arabic, French, Italian, Portuguese, Russian, Chinese, German, Polish, Czech, Slovak.
You can reach them through Twitter and Facebook DM as well. You can call if you want. Pick a method that works for you and try it.
XTB Details Overview
|Established: 2002||Website: https://www.xtb.com|
|Address: One Canada Square, E14 5AA, United Kingdom.||Minimum to Open Live: $1|
|Regional Offices: Czech Republic, Hungary, Turkey, Italy, LAT, International offices, CY EN, Poland, Belize, Portugal, Germany, Romania, Slovakia, France, Spain, China, Thailand, and Vietnam.||Regulators: : IFSC- The International Financial Services Commission, CySEC- Cyprus Securities and Exchange Commission, KNF- The Polish Financial Supervision Authority (Komisja Nadzoru Finansowego,) CNMV- Spain’s National Securities Market Commission, FCA- Financial Conduct Authority. BaFin- National Securities Market Commission.|
|Minimum Trade Size: 0.01||Prohibited Countries: Australia, Canada, USA, and India.|
|Maximum Leverage: 1:500||ECN: Yes|
|Mobile Trading: Available||Currencies: 45+|
|Trading Platforms: MT4, MT5, and WebTrader||Cryptocurrencies: 25+|
|Robots: Allowed||CFD: (1725+) Gold, Silver, Stocks, Stock Indexes, Bonds, Bond Indexes, Oil, Other Commodities.|
|Scalping: Not Allowed||Web Trading: Available|
|Deposit Methods: Credit Card, Neteller, PayPal, Skrill, Wire Transfer.||Withdrawal Methods: : Wire Transfer.|
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I know this broker several years ago and they have been pretty popular and have established a good reputation over time.
Yes.The XTB Site is very popular. Like the article.Is there any link to open a demo account.
Yes, Join Here: https://www.topfxbrokersreview.com/go/xtb/ora