Now that you have seen the process is relatively easy to get started. Here are the range of different account types you can look forward to opening with XTB.
The demo account with any broker is an excellent place to start and the XTB demo account is no different. Here you can trade virtual funds completely risk-free, but within an environment that precisely replicates live trading to give you some invaluable experience. You will also be under no obligation to open a live trading account at any time from your demo account. It is perfect for beginners then to get to know the broker.
With XTB, the demo account is fully available and lasts for a period of 30 days. After this though, you can easily continue demo trading by opening another demo account without any problem.
XTB Standard Account
One of the most popular XTB account types for many traders is the XTB Standard Account. Here you will be glad to find that there is no minimum deposit at all in most cases, though this will depend on the country you are trading from. Some countries do offer 3 types of XTB Standard account, with varying minimum deposits of $1, $1,500, or $15,000 depending on the account. The higher the tier of your account, the lower spreads will be.
Focusing on the typical Standard XTB account found in most places, the spreads will be very competitive starting from a variable spread of 1 pip and with over 1,500 assets tradable as CFDS. There should be something for everyone and in a very accessible manner.
XTB Pro Account
The XTB Pro Account is an excellent account type for those traders who are searching for the lowest spreads possible. Again, XTB provides amazing accessibility with no minimum deposit required here.
The spread on this account type starts from the very bottom at 0 pip variable spread. The same great range of over 1,500 CFDs are still available to trade, and commissions within this account are charged at $7 per round turn trade per lot. This remains at a very competitive level with other major brokers.
XTB Islamic Account
XTB Islamic trading is also available if you need it. You can access this through the XTB Islamic account. This account type does not charge any overnight fee and so, is completely compliant with Sharia law. The account type does however charge a slightly higher commission of $10 per lot traded.
You can always access more information through our article on the best swap free forex brokers, with XTB being a popular choice here with Islamic traders.
XTB Professional Account
The XTB Professional account is available to both EU and UK traders regulated under CySEC if you meet certain conditions. In order to qualify for this account type, you should meet at least two of these requirements:
- Have made an average of 10 transactions of significant size per quarter in the past year
- Have a financial instrument portfolio of over €500,000 (in your bank or into the trading account)
- Possess relevant experience in the financial services sector
If you do meet these criteria, then you will qualify for a professional account. Through this account you will have access to greater leverage of up to 200:1 on forex trading. Unlike some brokers, with XTB you will also retain your negative balance protection with this account.
Markets in forex, indices, commodities, stocks, ETFs, and cryptos will all be at your disposal here and trading will be made available through the proprietary XTB xStation platform and MT4.
Account Base Currency
The account base currency is that which you can trade with on your account. With XTB, this selection is not one of the widest you will find. With that said, major currencies in the form of EUR, GBP, and USD are all available.
If your account base currency matches that of your deposit and withdrawal method, then you can avoid having to pay any kind of conversion fee when trading.
Taking a look at funding your account, here is some more information on the XTB minimum deposit, deposit methods, and any associated fees.
XTB Minimum deposit
Generally speaking, XTB does not impose any minimum deposit amount with either their standard, pro, or Islamic accounts. The only exception here is within certain countries where there are 3 types of standard accounts available. In these countries, the following minimum deposits and spread variations apply:
There is a $1 minimum deposit in place for the Standard C account with spreads starting from 2.8 pips. This minimum deposit increases to $1,500 for a Standard B account with spreads from 1.5 pips, and $15,000 for a standard A account where spreads start from 0.7pips.
It is important to note here that this only applies in some countries, and generally there is no XTB minimum deposit.
When you are making an XTB deposit, you can typically do so in EUR. USD, GBP, HUF, CLP, and TRY are also all accepted depending on the country.
XTB deposit methods encompass all the usual methods you would expect. This means wire transfer, credit/debit cards from Visa and MasterCard, and eWallet deposits from Skrill, Neteller, PayU, and more, are accommodated.
Wire transfers will typically take around 1 day to process. Card payments are usually instant, though your first may be slower, and eWallet deposits are also usually instant.
More deposit methods may be available to you locally depending on your country. This is particularly true in Poland, and you can check with the broker for these additional methods.
XTB deposits are generally fee-free. The only exception here may be with some eWallets. These can charge 1.5% to 2% depending on your location. You may also be charged a small conversion fee if your deposit currency does not match up with an available account base currency.
Here are some of the additional details when it comes to making withdrawals from your XTB trading account.
The XTB withdrawal methods available are all the same as the deposit methods. This means wire transfer, credit/debit cards, and eWallets are all available. Just remember that you must typically use the same method to withdraw as you did to deposit.
An XTB withdrawal typically takes from 1-3 days depending on the method used.
So long as you withdraw $100 or more, then all of these withdrawals are free of any fees. If the amount is less than $100 then you are liable to a 30% fee on the amount withdrawn.
Spreads & Commissions
When it comes to spreads, you will find that XTB only offers these as floating spreads. These can start from as low as 0 pips with the XTB Pro Account type. This account is available to traders worldwide.
With the XTB Standard account, the spread typically starts from 1 pip in most countries, though this is not always the case. In the countries where there are three types of standard account available, the spreads start at 0.7 pips on a Standard A account, 1.5 pips on a Standard B account, and 2.8 pips on a Standard C account.
XTB trading is often commission-free, though commission of $3.50 per lot traded is applied on an XTB Pro account, and a commission of $5 per lot traded is applied on Islamic account trading which is swap-free.
Commission of 0.08% is also generally applied when trading CFD assets through the broker.
There are a couple of other fees that you may encounter from time to time when trading at XTB.
The overnight fee is that which you must pay if you hold a position past the close of market. Since XTB is a CFD broker, this fee will apply on almost every asset held overnight. Since the fee changes every day depending on the market, you can get up to date information on the exact fee through your trading platform on a particular day.
The only account type which does not apply any overnight fee is the XTB Islamic account.
XTB does charge an inactivity fee. This XTB inactivity fee will only be charged if you are inactive for 1 year. If this is the case, the broker will charge a monthly fee of $10 until you log back in to your account again. They also reserve the right to close your account if you do not have a sufficient balance to cover the fees.
This inactivity fee only applies to live trading accounts, and not to XTB demo accounts.