Opening an XTB account is quick and easy. Here are the main steps you’ll need to take to open an account:
- Type in your email address, where you live, and your account password
- Type in the full name, date of birth, nationality, passport number, and Tax ID.
- Give the street, building number or name, apartment number, postcode, and city.
- Pick the services you want (a trading platform, account type, currency, and language)
- Give full answers when asked about your past work.
- Give a bank statement and a national ID or passport
There are three kinds of trading accounts on XTB.
There are Standard Accounts and Pro Accounts that you can choose from. With a Standard Account, all costs are built into a spread, but with a Pro Account, you pay a commission for each trade.
Also, once a trader’s status has been confirmed, there is a special Islamic Account for traders who follow Sharia law. This account has conditions and laws that fit their needs. But before opening an account you should check out XTB review.
The operational strategy of XTB shows that the money is well spent. The offering is based on tight spreads starting at 0.3 pips and execution at the market level, as well as bonuses for traders who trade often. But make sure you check the right proposal, since trading conditions regulated by the FCA and international proposals are not the same.
The only difference between the two types of XTB accounts is the swap rates and spread levels, which are 0.35 pips for the Standard account and 0.28 pips for the Pro account. The Pro account costs $3.50 per lot in commission fees.
If we look at the average fees that XTB offers as a whole, we would say that they are at a pretty average level and are competitive and low. Also, both the Pro account and the Standard account have good terms for trading Stock CFDs.
Payments in and payments out
You can put money into your trading account in a number of ways, including the most popular and safe payment methods. This makes it easy to move money. Still, make sure to always check with customer service to make sure that the rules and methods are still the same.
When it comes to XTB’s withdrawal options and funding fees, bank transfers and payments by credit card for both withdrawals and deposits are free and can be made in EUR, USD, or GBP. Still, some payment methods, like PayPal and Skrill, cost an extra 2% of the amount you deposit.
How do I get my money out of XTB?
To get money out of your account, you have to fill out an online form and choose where to send the money (nominated bank). Another nice thing about XTB is that there is no fee for being inactive.
Still, the platform can be changed in any way you want and is very fast. It has useful tools like calculators, advanced charts, trader statistics, bulk order closing, traders talking to each other, and progressive technical analysis. But keep in mind that the Web Platform is easy to get to through any browser, but it isn’t as complete and full of tools as a desktop platform.
So, if you want to do day trading or trade professionally, you need a desktop platform with all the settings. This means that you can access your watch lists and workspaces from your desktop, smartphone, laptop, tablet, and even smartwatch.
The XTB platform also has a useful feature called “Market sentiment,” which shows the current selling or buying trend for each market and which markets are gaining or losing. Another addition is an equity screener that looks for new opportunities by filtering stocks.
As an XTB trader, you can count on the Customer Support team to give you accurate and quick answers, since they are available around the clock and speak multiple languages. They can be reached through Live Chat, email, and phone lines in the UK and around the world.
But customer service isn’t open on the weekends, so you can fill out the contact form to let them know what you need.
South Africa has a CFD market.
Multibank is a global CFD and FX broker that was founded in 2005 in California, USA, and has its main office in Hong Kong. They are a global financial group with companies all over the world that do things like manage assets and act as brokers. The Australian Securities and Investments Commission (ASIC) and other financial authorities keep an eye on MultiBank’s brokerage service, which is run by several legal entities.
Lloyds of London’s Excess Loss insurance protects traders’ funds up to $1 million per account, and negative balance protection is also offered. Multibank is a CFD broker though which you can do cfd trading South Africa.