It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of XTB

Pros:

• XTB is regulated by top-tier authorities such as CYSEC, CNMV and FCA, which ensures the safety of client funds and compliance with industry standards.

• Clients can enjoy commission-free trading with spreads as low as 0.25 pips, making it a cost-effective option for forex traders.

• The xStation 5 and xStation Mobile platforms provide a user-friendly and advanced trading experience, with multiple technical analysis tools and charting options.

• A wide range of educational resources is available, such as market news, sentiment indicators, and eBooks, making it ideal for beginner traders who want to improve their trading skills.

Cons:

• XTB only offers a standard account type, with no information provided about the minimum deposit required to open an account.

• The maximum leverage offered is only up to 1:30, which may not be ideal for high-risk traders who want to take larger positions in the market.

• Withdrawals of less than 100 USD, 80 EUR, 60 GBP or 12000 HUF will be charged a high fee, which can be a disadvantage for clients with smaller accounts.

• Customer support is not available 24/7 and is only offered in a limited number of languages.

What type of broker is XTB？

XTB is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, XTB acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that XTB has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with XTB or any other MM broker.

General information and regulation of XTB

XTB is a UK registered online forex and CFD broker that is regulated by the FCA, CYSEC, and CNMV. The company offers trading in a range of financial instruments including forex pairs, indices, commodities, stocks, and ETFs. XTB provides its clients with advanced trading platforms, educational resources, and a variety of payment methods. The broker also offers competitive spreads with zero commissions and has a maximum leverage of 1:30.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

Market instruments

XTB offers a diverse range of instruments for traders to choose from, including forex pairs, indices, commodities, stocks, and ETFs. This presents a great opportunity for traders to diversify their portfolio and access multiple markets all within one platform. The wide selection of tradable assets ensures that there are plenty of options available for traders with varying strategies and preferences. However, it's important to note that some of the instruments may have low liquidity and there is a limited selection of cryptocurrencies available. Additionally, not all of the assets may be available in all regions, which could limit access for some traders. Overall, XTB's instrument dimension provides traders with a comprehensive selection of tradable assets, but it's important to research each asset's liquidity and availability before trading.

Spreads and commissions for trading with XTB

XTB offers a single account type with zero commission and competitive spreads starting from 0.25 pips, making it an attractive option for traders looking for low trading costs. There are no hidden fees or additional charges, providing transparency and ease of understanding for traders.

Trading accounts available in XTB

XTB offers only one standard account type, which doesn't charge any commission and offers competitive spreads from 0.35 pips. This account type also provides access to a wide range of trading instruments, including forex pairs, indices, commodities, stocks, and ETFs. However, the minimum deposit requirement for this account type is not revealed, which can be a disadvantage for traders who are looking for transparency in terms of account funding. Additionally, the lack of account type options might not suit the needs of more advanced traders who require different trading conditions or access to additional features. Overall, the account type provided by XTB has its benefits in terms of low costs and diverse trading instruments, but it might not be suitable for all types of traders.

Trading platform(s) that XTB offers

X-Trade Brokers (XTB) provides its clients with two main trading platforms - xStation 5 and xStation Mobile. xStation 5 is a highly advanced platform with a customizable interface and advanced charting tools. The platform also offers fast execution speeds and one-click trading functionality. On the other hand, the xStation Mobile platform offers limited features compared to the desktop version. The mobile platform lacks advanced charting tools and other important features, limiting its functionality for traders who prefer to trade on-the-go. Additionally, XTB only offers its proprietary platforms and does not support any third-party trading platforms, which could be a disadvantage for some traders.

You can watch their video tutorial about this platform on their official YouTube channel.

Maximum leverage of XTB

XTB offers a maximum leverage of up to 1:30 which is a standard leverage amount in the industry, especially in the European Union. The maximum leverage allows traders to increase their market exposure with a smaller initial investment and has the potential to generate higher returns. However, traders need to be aware that high leverage also carries a higher risk of substantial losses, and should only be used by experienced traders who have a good understanding of risk management strategies. Moreover, it may not be suitable for all types of traders, especially beginners who may find it difficult to manage the increased risk. Overall, the maximum leverage offered by XTB can be beneficial for traders who have experience in managing risk and are comfortable with high leverage trading.

Deposit and Withdrawal: methods and fees

XTB offers a range of deposit methods including bank transfers, credit cards and Skrill. They do not charge any fees for deposits and process them quickly. However, withdrawals smaller than 100USD, 80 EUR, 60 GBP or 12000 HUF will be charged a high fee of around 20USD/16EUR/12GBP. The number of withdrawal methods is limited, and withdrawals may take up to 3 business days. XTB ensures secure transactions and does not have any hidden charges. However, the minimum deposit amount is not disclosed.

Educational resources in XTB

XTB provides a wide range of educational resources for traders to improve their trading skills and knowledge. These resources include an economic calendar, market news, market sentiment, articles, eBooks, and more. These resources are free to access and provide opportunities for traders to improve their trading strategies and knowledge. The platform also offers a demo account for traders to practice their skills and strategies before trading with real money. While some resources may be basic and not useful for experienced traders, XTB regularly updates their resources with the latest market news and analysis. However, there are no structured or formal education programs or physical/in-person events or seminars offered, and there is limited interaction and personalization with educational resources.

Customer service of XTB

XTB offers multiple customer support options, including 24/5 customer service through their UK and Poland-based offices. Clients can reach XTB's customer support team through various contact methods such as email, phone, and online messaging. Additionally, the company provides dedicated account opening lines for new clients. However, it is important to note that XTB does not offer 24/7 customer support, and phone support may be limited. Moreover, the company does not offer live chat support and email support may also be limited.

Conclusion

Overall, XTB is a well-regulated and reputable forex broker with several years of experience in the industry. The company offers a wide range of tradable assets, competitive spreads, and a user-friendly trading platform with advanced features. The educational resources provided by XTB are also a valuable asset for both novice and experienced traders. However, the limited account options and high withdrawal fees for small amounts may be a disadvantage for some traders. The customer support offered by XTB is efficient and available 24/5, and the company has a physical presence in several locations around the world. The maximum leverage offered by XTB is limited to 1:30, which may not be suitable for some high-risk traders. Overall, XTB is a solid choice for traders looking for a regulated and reliable forex broker.

Frequently asked questions about XTB

• What are the trading instruments available at XTB？

• Answer: XTB offers forex pairs, indices, commodities, stocks, and ETFs.

• What type of account is available at XTB？

• Answer: XTB only offers a standard account with a minimum deposit not revealed.

• What is the maximum leverage offered by XTB？

• Answer: XTB offers a maximum leverage of up to 1:30.

• What are the deposit and withdrawal methods available at XTB？

• Answer: XTB offers bank transfers, credit cards, and Skrill for deposits and withdrawals.

• What are the fees associated with withdrawals at XTB？

• Answer: Withdrawals smaller than 100 USD, 80 EUR, 60 GBP, or 12000 HUF will be charged a high fee of around 20 USD/16 EUR/12 GBP.

• What trading platforms are available at XTB？

• Answer: XTB offers the x Station 5 and x Station Mobile trading platforms.

• What educational resources are available at XTB？

• Answer: XTB provides a series of educational resources such as economic calendar, market news, market sentiment, articles, eBooks, and more.

• Is XTB regulated？

• Answer: XTB is under multiple regulation, including CYSEC, FCA, and CNMV.

• Does XTB offer a demo account？

• Answer: Yes, XTB offers demo accounts.

• Does XTB charges commission？

• Answer: No, XTB provides a commission-free trading.

• What is the minimum deposit for XTB？

• Answer: XTB requires $250 for clients t trade with it.

• What is the difference between a demo and a live trading account？

• Answer: A demo account is an account funded with virtual money that allows for risk-free trading while a live trading account requires actual capital.

• What is the overall rating for XTB ？

• Answer: The overall rating for XTB is 6.63/10 based on its Regulatory index, Risk Management index, Software index, Business index, License Index.

Overview of USGFX

Union Standard Group (USG) is an Australian investment firm that provides access to trade forex and CFDs under the brand name ‘USGFX’. The brand began operations in 2005 and is headquartered in Sydney, Australia with subsidiaries in London and Asia. This broker offers a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies, which can be traded on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

USGFX prides itself on its commitment to customer service, with a 24/5 customer support team available to assist traders with their queries. The broker also offers educational resources such as webinars, ebooks, and video tutorials, as well as a free demo account for traders to practice their strategies. In addition, USGFX offers a range of account types to cater to the needs of different traders, including Standard, Pro, and VIP accounts.

Is USGFX legit or a scam？

USGFX has received mixed reviews and there have been reports of some traders experiencing issues with withdrawals and customer support. USGFX had their ASIC and FSC licenses suspended and VFSC license revoked in 2020 due to concerns over their compliance with regulatory requirements, particularly in regards to client money handling and risk management procedures. The Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC) of the British Virgin Islands suspended USGFX's licenses for six months, while the Vanuatu Financial Services Commission (VFSC) permanently revoked their licenses.

Regulated brokers are required to adhere to strict rules and regulations regarding client funds, transparency, and risk management. In the event of any dispute or issue, traders have recourse through the regulatory body. With an unregulated broker, there is no such protection, and traders may be at a higher risk of fraud or other unethical practices

Pros & Cons

Here let's take a closer look at the good and bad things about USGFX. On the plus side, they offer a wide range of financial instruments to trade, including Forex, commodities, and indices. Their trading platforms are also pretty user-friendly and easy to navigate. On the downside, their regulatory status is questionable, which could be a red flag for some traders. Plus, they don't accept clients from certain countries, so you'll want to make sure you're eligible before signing up.

Market Instruments

USGFX offers a range of financial instruments for trading, including forex currency pairs, commodities, indices, and shares of popular companies. Some examples of the instruments offered by USGFX are:

• Forex currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD

• Precious metals like gold, silver, and platinum

• Energy commodities such as crude oil and natural gas

• Indices such as S&P 500, NASDAQ, FTSE 100, and Nikkei 225

• Shares of popular companies like Apple, Amazon, Facebook, and Microsoft

Account Types

USGFX offers four different types of trading accounts to cater to the needs of different traders:

• MINI Account: This is the entry-level account with a minimum deposit requirement of $100. Traders with this account type can trade a wide range of instruments with low trading costs, access to educational resources, and 24/5 customer support. However, this account type comes with limited features, such as lower leverage and limited trading tools.

• Standard Account: The standard account requires a minimum deposit of $10,000 and comes with additional features such as higher leverage, access to more trading tools, and a dedicated account manager. Traders with this account type can also enjoy free VPS hosting and regular market analysis.

• VIP Account: This account type is designed for high-volume traders with a minimum deposit requirement of $50,000. In addition to the features of the standard account, VIP account holders can enjoy custom trading strategies, priority customer support, and exclusive market insights.

• Pro-ECN Account: The Pro-ECN account is designed for experienced traders and institutions with a minimum deposit requirement of $50,000. This account type offers ECN trading with no dealing desk, ultra-low spreads, and high execution speeds. Traders with this account type can also access premium research tools and institutional-grade liquidity.

How to open an account with USGFX？

Opening an account with USGFX is pretty straightforward and you need to follow these steps:

1. First, you need to go to their website and click on the “Open Account” button.

1. Then, you'll need to fill in some personal details, like your name, email address, and phone number. After that, you'll need to choose the type of account you want to open and provide some additional information, like your date of birth and proof of identity.

1. Once you've completed the registration process, you'll be able to deposit funds into your account and start trading. Just keep in mind that depending on the type of account you've chosen, there may be different deposit and withdrawal requirements.

Leverage

USGFX offers flexible leverage options ranging from 1:1 to 500:1, depending on the account type and instrument traded. It is important for traders to understand the risks involved with using high leverage and to use it judiciously. Additionally, some instruments may have lower leverage options due to market conditions or regulatory requirements. Traders should check with the broker regarding the available leverage options for specific instruments.

Spreads and Commissions (Trading Fees)

USGFX offers variable spreads, which means that the spread can widen or narrow depending on market conditions. The average spread for major currency pairs such as EUR/USD, USD/JPY, and GBP/USD is around 2-3 pips. Commissions are not charged for forex trading, but there are swap fees for holding positions overnight.

For trading other instruments like commodities, indices, and cryptocurrencies, USGFX charges a fixed spread. The size of the spread varies depending on the instrument traded. For example, the spread for gold is typically around $0.50 per ounce, while the spread for Bitcoin is around $60 per lot.

Non Trading Fees

Apart from spreads and commissions, USGFX also charges several non-trading fees. These fees can add up and affect your overall trading experience, so it's important to be aware of them.

One such fee is the inactivity fee. This fee is charged to your account if you haven't made any trades or withdrawals for a specified period of time. The fee amount varies depending on the type of account you have and how long you've been inactive.

Another fee to be aware of is the withdrawal fee. While USGFX doesn't charge a deposit fee, they do charge a fee for each withdrawal you make from your account. This fee is a fixed amount and varies depending on the payment method you choose for your withdrawal.

USGFX also charges a swap fee, which is a fee charged for holding positions overnight. This fee can be a credit or debit depending on the direction of your position and the interest rates of the currencies you are trading.

Lastly, USGFX may charge a conversion fee if you deposit or withdraw funds in a currency that is different from the base currency of your trading account. The conversion fee is a percentage of the amount being converted and can add up if you frequently deposit or withdraw in different currencies.

Trading Platforms

USGFX offers its clients the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are highly popular among traders worldwide. These platforms are equipped with a range of trading tools, including charting tools, technical analysis indicators, and trading robots, making them suitable for traders of all levels.

MT4 is a well-established platform that has been around for over 15 years. It is known for its user-friendly interface, ease of use, and a wide range of trading tools. MT5, on the other hand, is the latest version of the platform, which was introduced in 2010. It offers several advanced features, such as more technical analysis tools, a multi-threaded strategy tester, and an economic calendar.

One of the significant advantages of MT4 and MT5 is that they are compatible with a range of devices, including desktop computers, laptops, smartphones, and tablets. This allows traders to access their accounts and trade from anywhere at any time.

Here's how USGFX's trading platform stacks up against other brokers' platforms:

Deposits and Withdrawals

Minimum Deposit

USGFX has a minimum deposit requirement of $100, which is pretty reasonable compared to some other brokers out there. It means that even if you're just starting out with trading and don't have a lot of money to invest, you can still give it a go with USGFX. Of course, you won't be able to make huge trades for just $100, but it's a good starting point to get your feet wet and learn the ropes of trading.

USGFX offers a variety of deposit and withdrawal options to its clients. Deposits can be made through bank wire transfer, credit/debit cards, and various e-wallets such as Skrill, Neteller, and FasaPay. The processing time and fees for each method may vary.

Withdrawals can also be made through bank wire transfer, credit/debit cards, and e-wallets. However, it is important to note that there may be fees associated with withdrawals, depending on the method chosen. Withdrawal requests are typically processed within 1-2 business days.

Also, USGFX may apply internal fees to withdrawals that are not actively traded. For example, if you make a deposit and then withdraw it without trading, USGFX may apply a fee of up to 3% of the deposit amount.

Customer Support

USGFX offers customer support through various channels, including email, phone, and live chat. The broker has dedicated support teams in different regions to cater to clients' needs. Customer support is available 24/5, and clients can contact the broker through the website's contact form or through the provided phone numbers and email addresses.

USGFX also has an extensive FAQ section on its website that covers different aspects of trading, including account management, deposit and withdrawal, and trading platforms.

Educational Resources

USGFX offers a variety of educational resources to help traders improve their knowledge and skills in trading. The broker provides free webinars, video tutorials, e-books, and other resources to help traders learn about various topics such as technical analysis, risk management, trading strategies, and more. Additionally, USGFX offers a demo account, which traders can use to practice trading in a risk-free environment.

The educational resources provided by USGFX can be accessed through the broker's website or the trading platform. The resources are available in multiple languages, making them accessible to traders from different countries. Traders can also interact with the broker's experts and other traders through online forums and social media channels.

Conclusion

USGFX is a forex broker that offers trading services in a variety of markets, including forex, commodities, and cryptocurrencies. The broker offers several account types with varying minimum deposit requirements, allowing traders to choose an account that suits their trading needs. However, the broker's regulation has been a point of concern, with its licenses revoked by various regulatory authorities. This, coupled with negative reviews from clients and the low ranking score, raises questions about the broker's trustworthiness.

FAQs

• Q: Is USGFX a regulated broker？

A: USGFX was previously regulated by ASIC, FSC, and VFSC, but their licenses have been revoked due to regulatory violations.

• Q: What trading platforms does USGFX offer？

A: USGFX offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices.

• Q: What is the minimum deposit requirement to open an account with USGFX？

A: USGFX offers a MINI account with a minimum deposit requirement of $100.

• Q: What is the maximum leverage offered by USGFX？

A: USGFX offers a maximum leverage of up to 500:1 for forex trading.

• Q: What are the available payment methods for deposits and withdrawals with USGFX？

A: USGFX offers various payment methods, including bank transfer, credit/debit card, and electronic payment systems such as Neteller and Skrill.

• Q: Does USGFX offer educational resources for traders？

A: Yes, USGFX provides a range of educational resources for traders, including webinars, e-books, and trading tutorials.