Founded in 2002 as Poland’s first-ever leveraged FX brokerage house, X Trade transformed into X Trade Brokers in 2004 to meet new Polish regulations. Subsequently, it rebranded itself to the current incarnation XTB Online Trading. The firm doesn’t accept U.S. traders. It is a solid choice for Forex traders, who are looking for ways to minimize their costs.
The platform offers up to 500:1 leverage to non-UK accounts, while UK accounts get the maximum leverage of up to 30:1. It lays a special focus on customer support and provides relevant educational tools, and research amenities to cater to the needs of novices. This firm has been announced as the Best Forex Broker for Low Costs by Investopedia in 2020.
Pros
- Lowest forex spreads
- Regulated by FCA (United Kingdom)
- Special emphasis on customer support service
- Offers solid protection and safety for client accounts
Cons
- Non Forex spread costs are expensive
- It doesn’t accept U.S. clients
- No automated trading capabilities
- No guaranteed stop loss
Here’s what the team at XTB Online Trading says about its trustworthiness and reliability:
‘’In almost two decades of activity in the financial markets, we have earned the trust of over 275,000 customers around the world. Your investments are safe with us – we are regulated by some of the world’s biggest supervision authorities: FCA, KNF, CySEC, and IFSC. Moreover, we provide clients with free insurance purchased from Lloyd’s of London, one of the worlds leading providers of specialist insurance, giving coverage of up to 1 million Euro, GBP, or AUD (depending on the region). The insurance is given automatically to all XTB clients — there is no need to register.’’