Binary trading is a relatively new phenomenon on the global financial sky, and new companies that offer these types of services are appearing almost on a daily basis. Our review will present to you one such enterprise, a broker house called XTB, and we will try to cover all the elements of their activities and services realistically. That way we can discover if XTB scam is present on the market, and we will provide you with enough arguments so that you can make an informed decision in the end. After all, your hard-earned funds will be in question, and we firmly believe that nobody wants to lose their money in a foolish and reckless way. Find out the truth in our XTB Review!
XTB broker – about the company
XTB is still a young broker house, which is not a major issue, but it can be a drawback in a world of financial transactions and trading. Simply, people like to invest in a company that has tradition and integrity on its side, and experience can be a major asset as well. XTB binary broker was founded in 2012 in London, and due to this fact – it is regulated and licensed by UK’s Financial Conduct Authority (FCA). Being under the jurisdiction of this agency is a “big thing,” and this could provide some guarantee to the prospective investors. On their website, XTB claims that they have offices in 13 countries, including Poland, Turkey, Romania, Germany, France, and many others.
XTB review – types of accounts
Having a diverse and versatile offer is something that is a must for all modern broker houses, but XTB binary trading platform does not provide a broad array of options when it comes to types of accounts. In other words, there are only three categories of accounts, and they are sorted by the amount of money you deposit. Basic, Standard or Pro account are classified as such due to their deposit requirements, but also because of the alleged benefits that they offer to the traders. Unfortunately, XTB does not provide any detail about these benefits, and they state that the minimum amount for being able to invest through this broker is $250.
XTB opinion – trading conditions
Unrealistic promises are a typical red flag when it comes to fraudulent activities in the binary trading sector, and XTB offers outrageous returns to their traders. Therefore, XTB scam may be something you need to keep any eye out for, and only invest your money if you are hundred percent confident that the company in question is running its business in legitimate and trustworthy manner. XTB review supposes that this broker provides their clients with “generous” bonuses once they are registered and deposit the first amount, but these promotions usually come with problematic conditions that are tucked away somewhere in the fine print. An attractive option that they offer is called Refer-A-Friend, and you and your friend can both get $40 at the end of this “process.”
XTB binary broker trading platform
Unlike the majority of other broker houses which have only one software platform, many XTB opinions claim that XTB has a slightly different approach to this aspect, and they offer two software solutions. Their platforms are called MT4 (MetaTrader) and XStation, and according to the site – they offer a broad range of services. Some of those services include analytical tools, real-time charts, and technical indicators. Also, the website should be available in 10 different languages, but most of them do not even work when you try to switch the interface to that particular language.
Deposits and withdrawals
Besides the “small problem” with languages, which could be attributed to a software glitch, there are some other interesting details about this broker house. When it comes to deposits and withdrawals, clients want to have a broad range of possibilities and options, and XTB broker does not provide an extensive list of banking methods. Yes, they work with the majority of the most prominent credit and debit cards, and they also cooperate with several popular e-wallets, such as Skrill, Neteller, and PayPal. Having PayPal on this last is rather surprising, mostly because most binary broker houses typically do not have partnership agreements with this well-known service. Since PayPal is notorious for its demanding safety protocols and procedures, this can either mean that this broker company is super-safe or that XTB scam is luring clients in by just posting the name of this banking service on their website.
The customer support section with XTB contains several educational lessons and tutorials, which can be a great tool for learning about binary trading. However, there is no FAQ section, and this is a potential sign of suspicious activities. However, customers are offered several methods by which they can contact the XTB customer service, and telephone, email, and live chat are on that list of available means of communication.
XTB reviews – Conclusion
Several red flags have popped out during our XTB review, and that is why we have reason to believe that XTB broker is not a legitimate and professional trading company. Their software platform and their customer support are not on the highest level of performance, and the safety protocols that this broker employs are not sufficient to protect client’s funds and personal information. Despite the fact that XTB is regulated by FCA, we advice you to find a better and more reliable binary broker.