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Best trading platform for Europeans in 2020

Saxo Bank
4.8
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Oanda
4.6
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73.5% of retail CFD accounts lose money
IG
4.5
Visit broker
75% of retail CFD accounts lose money
Saxo Bank
4.8
Visit broker
Oanda
4.6
Visit broker
73.5% of retail CFD accounts lose money
IG
4.5
Visit broker
75% of retail CFD accounts lose money
Best trading platform for Europeans in 2020

To find the best trading platform for Europeans, we went ahead and did the research for you. First, we selected 57 quality online brokers, then we tested them with real accounts. We evaluated their web, mobile and desktop trading platforms and the research tools too. We went deep, so you don’t have to.

4 made it to the top. We highly recommend all 4 to you. And now, without further ado...

The brokers with the best trading platforms for Europeans in 2020 are:

  1. Saxo Bank, Danish investment bank
  2. Oanda, US forex broker
  3. IG, Global CFD and forex broker
  4. XTB, Global CFD and forex broker

All 4 brokers provide great trading platforms for Europeans, but we have selected a winner and a runner-up for web, mobile and desktop as well.

Winners and runner-ups for best trading platform for Europeans in 2020
  Web Mobile Desktop
#1 Saxo Bank Oanda Saxo Bank
#2 IG Saxo Bank XTB

Saxo Bank made it to the top in all three categories, an absolute winner with its SaxoTraderGO trading platform family, which is great for all asset classes.

Oanda has the best trading platform for mobile, an amazing platform for forex trading.

IG is the runner-up in the web category with an extremely customizable web trading platform. XTB is second in the desktop category with platform suitable for forex and CFD trading.

Best trading platform for Europeans in 2020
Saxo Bank Oanda IG XTB
Web platform score 5.0 5.0 5.0 4.0
Mobile platform score 5.0 5.0 5.0 4.0
Desktop platform score 5.0 4.0 - 4.0
Research score 5.0 5.0 4.0 4.0
Fees score 3.0 4.0 3.0 4.0

What makes the best trading platform? First of all, they need to offer a user-friendly and well-designed trading platform. It’s also important to have a safe login, easy search functions, and an enough number of order types. We also score positively if there are price alerts and clear fee reports.

Easy to list, but hard to figure it out. We are testing brokers along more than 100 criteria with real accounts and real money. We know what's up. You can find all the ranking criteria in our methodology..

Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.

And now, let's see the best trading platform for Europeans in 2020 one by one, starting with Saxo Bank, the winner for best web and desktop trading platforms.

Saxo Bank Logo

#1 Best trading platform for Europeans
Saxo Bank

4.8

Saxo Bank is a Danish investment bank founded in 1992, providing online trading and investments. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). 

Saxo Bank is a global service provider. In the different regions, its subsidiaries are present in the form of separate legal entities. The services offered by each entity might change slightly especially in case of their fees and products available to trade. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record, has a banking background, and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

Pros Cons
Great trading platform High bond, options and futures fees
Outstanding research High minimum deposit
Broad product portfolio Lacks live chat and 24/7 availability

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#1 Saxo Bank
Web trading platform
5.0

Saxo Bank's web trading platform is one of the best among online brokers. It's easy to use, but also provides features favored by professionals, such as an advanced order panel. On the negative side, there is no two-step login.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function

Saxo Bank's web trading platform is called SaxoTraderGO, while the name of the desktop trading platform is SaxoTraderPRO. Both are developed by Saxo.

The web trading platform is available in an exceptionally large number of languages.

Saxo platform's languages
Arabic Bulgarian Czech Chinese Danish
German Estonian English Spanish French
Greek Croatian Italian Japanese Latvian
Lithuanian Hungarian Dutch Norwegian Polish
Portuguese Portuguese-Brazil Romanian Russian Slovakian
Slovenian Finnish Swedish Turkish  

Look and feel

SaxoTraderGO is a great platform; we really liked its modern design and user-friendliness.

The easily customizable platform meets the needs of both novice and professional traders. However, customizability has its limits; for example, you can change the size of various tabs but not their relative positions.

Saxo Bank review - Web trading platform

Login and security

Saxo Bank provides only one-step login. However, if you have a VIP account, you can have a more secure, IP address-linked Saxo Bank login. Providing two-step login for all account types would be more secure.

Search functions

Saxo's search functions are great. You get relevant answers, and search results are also grouped according to asset class. For example, if you search for Apple, the results will show Apple stocks, CFDs and options as well.

There is a drop-down button on the right side of the search box for filtering results. For example, you can narrow down stock search results to specific countries, or filter forex search results for major currency pairs.

Saxo Bank review - Web trading platform - Search

Placing orders

You can use many order types and order time limits. 

Pick any of the order types listed below:

  • Market
  • Limit
  • Stop limit 
  • Stop 
  • Trailing stop 
  • One-cancels-the-other (OCO)

If you are not familiar with the basic order types, read this overview.

There are also several order time limits available:

  • Good till canceled (GTC) 
  • Day Order
  • One week
  • One month
  • End of week
  • End of month
  • End of Year
  • Good till date (GTD)
  • Immediate or cancel (IOC)

We also liked Saxo's fee transparency. When you open the order panel, you will be shown a 'Trade Ticket' that lists a lot of useful information, such as the costs or the margin requirements.

Saxo Bank review - Web trading platform - Order panel

Alerts and notifications

You can use a wide range of alerts:

  • Price alert
  • Position closing/opening
  • Portfolio change
  • Margin call, etc.

Notifications from the platform are available as pop-up messages or in email.

Portfolio and fee reports

Portfolio and fee reports are transparent. You can view and download reports under the 'Account' tab. Historical profit/loss balance and costs paid are clear and easy to track.

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#1 Saxo Bank
Mobile trading platform
5.0

Saxo Bank's user-friendly mobile platform has the same look and almost the same functionality as the web platform.
Pros Cons
User-friendly No two-step (safer) login
Good search function
Good variety of order types

Saxo Bank's mobile trading platform is available for both iOS or Android. In this review, we tested it for Android.

The mobile trading platform is available in the same languages and has the same search functions, order types and alerts as the web trading platform. It provides only one-step login, although you can use biometric authentication, which is still not as secure as two-step authentication but is at least convenient.

The platform's user-friendliness falls short of the web trading platform. We liked the modern design but were slightly disappointed by the confusing menu structure, which sometimes made it hard to find what we were looking for.

Saxo Bank review - Mobile trading platform

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#1 Saxo Bank
Desktop trading platform
5.0

Saxo Bank's desktop trading platform is one of the best on the market. It is well designed, easy to use, and offers great customizability.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good customizability (for charts, workspace)

Saxo's desktop trading platform, SaxoTraderPRO looks similar to its web-based equivalent.

At the same time, as the name 'PRO' suggests, the desktop version offers more advanced customizability. You can run up to six windows at the same time and create your own trading environment. Each window is customizable in size and position.

Saxo Bank review - Desktop trading platform

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#1 Saxo Bank
Research
5.0

Saxo Bank's research is great, including well-developed tools for both fundamental or technical analysis. You have clear recommendations, detailed fundamental data and user-friendly interactive charting at your disposal.
Pros Cons
Good interactive chart Most fundamental data is not free of charge
Trading ideas
Data on asset fundamentals

The majority of Saxo Bank's research tools can be found on its various trading platforms. Another source of research tools and ideas is tradingfloor.com. 

Trading ideas

There are many analysis pieces and recommendations both on Saxo's trading platforms and on tradingfloor.com. 

Saxo Bank review - Research - Recommendations

Fundamental data

Saxo provides very detailed data on stock fundamentals. However, only a few are available for free, namely: Apple, Microsoft, Barclays, Nestlé, Siemens, Telefonica, Nokia, ENI, and Hennes & Mauritz. For data on other stocks, you have to subscribe.

You will find both current and historical data. On top of information such as ownership structure, financial statements, valuation or peer group comparison, you can also prepare your own benchmark analysis. Analyst consensus and target price information are also available.

Saxo Bank review - Research - Fundamental data

You can check out the current winners and losers of major stock exchanges, read related news articles, and view related trade signals and calendar events.

Saxo bank review - Research -  Equity

Charting

The interactive chart function is also great and user-friendly.

You will find 50 technical indicators and can add many editing tools, like trendlines or Fibonacci tools.

In addition, there is a trading signal tool, which gives you a buy or a sell signal based on technical indicators. This feature is powered by Autochartist, a third-party research company.

Saxo Bank review - Research - Charting

News feed

news feed and an economic calendar are also available on Saxo's trading platforms. One slight drawback is that you can't filter news by assets.

On tradingfloor.com, you can read additional news and daily commentary, long-term outlook pieces. or expert opinion.

Other research tools you will enjoy

There is a great stock screener. You can filter stocks by country, industry, and financials.

For example, if you are searching for tech companies in the US with a P/E of less than 15 and a market cap higher than $1 billion, this is basically a two-click exercise in the screener.

Saxo bank review - Research - Stock screener

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#1 Saxo Bank
Verdict

Saxo Bank is a great broker, providing a complex and good service.

Saxo offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly responding to the needs of clients.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA.
Fees score 3.0
Recommended for Investors and traders looking for a great trading platform and solid research

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Oanda Logo

#2 Best trading platform for Europeans
Oanda

4.6

Oanda is an American forex broker founded in 1996.

It is considered safe because it has a long track record, discloses its financials, and is regulated by top-tier authorities, such as the US Retail Foreign Exchange Dealer (RFED) and the UK's Financial Conduct Authority (FCA).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders who value a user-friendly platform and great research tools

Pros Cons
Generally low fees Only FX and some CFDs
Easy-to-use web trading platform Poor customer service
Easy and digital account opening High bank withdrawal fee

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73.5% of retail CFD accounts lose money

#2 Oanda
Web trading platform
5.0

Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts.
Pros Cons
User-friendly No price alerts
Clear fee report
Two-step (safer) login

At Oanda you can choose from two trading platforms: Oanda's own platform or MetaTrader 4. In this review, we tested Oanda's platform.

The web trading platform is available in several languages: 

Chinese English French German Italian
Japanese Portuguese Russian Spanish Japanese

Look and feel

Oanda's own trading platform is user-friendly and well-designed. It is also customizable, allowing you to change the tabs' position and size.

Oanda review - Web trading platform

Login and security

Oanda provides a two-step login, which is safer than using only a username and password. For two-step login to work, you'll have to install the Google Authenticator app, which is a compromise that's easy to live with for the sake of security.

Search functions

The platform's search function is good, in that you can easily find the assets you are looking for. Assuming you found the search function in the first place - its location is not very intuitive, as the search menu can be found under the ‘Rates’ tab.

Placing orders

You can use the following order types:

  • Market
  • Limit
  • Take profit
  • Stop loss
  • Trailing stop

Only Good till Date (GTD) order time limit is available. To get a better understanding of these terms, read this overview of order types.

Oanda review - Web trading platform - Order panel

Alerts and notifications

You cannot set price alerts and notifications on the web trading platform, although this function would be useful and it is available at several other brokers.

Portfolio and fee reports

Oanda has clear portfolio and fee reports. You can find your summary of spread costs, commissions and profit under the ‘Activity’ tab.

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73.5% of retail CFD accounts lose money

#2 Oanda
Mobile trading platform
5.0

Oanda's mobile platform is similar to the web trading platform in functionality, and as a plus, you can also set alerts.
Pros Cons
User-friendly No Touch/Face ID login
Two-step (safer) login
Good search function

Oanda's mobile trading platform is available on both iOS and Android. We tested it on Android in English, but it's also available in the following languages:

Arabic Chinese German
English Japanese Russian

Look and feel

The Oanda mobile trading platform is user-friendly. The chart tab is great, you can customize it well. This is not something you commonly find at other brokers.

Oanda review - Mobile trading platform

Login and security

Oanda provides a two-step login, which is definitely safe, but you can't use biometric authentication (i.e. fingerprint or face recognition on your phone), which would make the process even more convenient.

Alerts and notifications

Unlike on the web trading platform, it's possible to set alerts and notifications on the Oanda mobile platform.

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73.5% of retail CFD accounts lose money

#2 Oanda
Desktop trading platform
4.0

Oanda's desktop platform mimics the web platform in terms of functionality, but its design could be improved.
Pros Cons
Clear fee report No price alerts
Good customizability (for charts, workspace)
Good variety of order types

Oanda desktop platform is similar to the web trading platform in terms of login, order types, setting alerts, and portfolio reports. On the other hand, the design is a bit outdated.Oanda review - Desktop trading platform

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73.5% of retail CFD accounts lose money

#2 Oanda
Research
5.0

Oanda has a wide range of research tools, such as news, technical analysis and API.
Pros Cons
Good interactive chart Research tools are poorly organized
Quality news flow
User-friendly
Great API

Oanda has a lot of research tools, but they are scattered across five different pages. For the sake of clarity, here they are in one place:

  • MarketPulse: analyses written by Oanda's own research team. It also includes an economic calendar.
  • News: MarketPulse articles plus a feed by Dow Jones Newswires, a prominent third-party information provider
  • Economic analysis: analyses of important economic events. However, there is an overlap with MarketPulse as many of these articles can be found there as well.
  • Oanda Labs: tools developed by Oanda's engineers. These tools are usually based on technical analysis, e.g. candlestick pattern analysis. 
  • Technical analysis: many technical analysis tools powered by Autochartist
  • Algo Lab: a powerful tool for API trading

Research tools are available in multiple languages.

Fundamental data

Oanda provides no fundamental data, mostly because it concentrates on forex.

Charting

Oanda has great charting tools. The charts are very responsive, easy to edit, and you can use more than 70 technical indicators.

Oanda review - Research - Charting

News feed

News is available on the ‘News’, ‘Market Pulse’, and ‘Economic Analysis’ pages. You can reach these pages from the trading platforms.

Oanda review - Research - News feed

We think ‘MarketPulse‘ is your best bet to be in the know. It offers well-written news and analysis with visual elements like charts or videos. You can also find a great economic calendar. These elements are totally missing from the ‘News‘ page, while the ‘Economic analysis‘ page is not up to date.

Oanda review - Research - Market pulse

Other research tools

There are so many other research tools that even a separate review wouldn't do them justice. Therefore, we picked only the hottest ones.

Oanda has great API options. You can make/use your own APIs in a great and very user-friendly environment. Algo Lab allows you to code and deploy your own automated trading strategies right from your web browser. Programming languages supported by Algo Lab are C#, Python, and F#.

Oanda review - Research - Algo labThere is also a currency heat map, which is a great visual chart showing FX pair changes in percentages. Last but not least, you can use the Forex Order Book tool, which is a 24-hour summary of open orders and positions held by Oanda's clients.

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73.5% of retail CFD accounts lose money

#2 Oanda
Verdict

Oanda is a good forex broker: its fees are great, and it has a good web trading platform where you will quickly feel comfortable. It provides a user-friendly and fully digital account opening process, as well as powerful research tools, especially API.

On the other hand, Oanda has a limited product portfolio, as only forex and CFDs are available. Customer support is slow, and bank withdrawal fees can be high.

Feel free to try Oanda: it is regulated by top-tier regulators, there is no minimum deposit, and the inactivity fee only kicks in after two years.

Oanda
Summary Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC.
Fees score 4.0
Recommended for Forex traders who value a user-friendly platform and great research tools

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73.5% of retail CFD accounts lose money

IG Logo

#3 Best trading platform for Europeans
IG

4.5

IG was established in the UK in 1974 and is one of the biggest CFD brokers in the world. It is regulated by several bodies globally, including top-tier regulators like the Financial Conduct Authority (FCA) and the Federal Financial Supervisory Authority (BaFin). IG Group is listed on the London Stock Exchange.

IG is considered safe because it is listed on a stock exchange, discloses its financials and is overseen by top-tier regulators.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are not provided for US clients. Forex trading involves risk. Losses can exceed deposits.

Recommended for traders of any experience level looking for an easy-to-use trading platform

Pros Cons
First-class web trading platform High stock CFD fees
Superb educational tools Limited product portfolio
Great deposit and withdrawal options Poor phone support

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75% of retail CFD accounts lose money

#3 IG
Web trading platform
5.0

IG's web trading platform is great for both beginners and professional traders. It is easy to use, has all the necessary functions and can be customized.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login

You can use IG's trading platform or MetaTrader 4, a third-party trading platform. In this review, we tested IG's own trading platform.

The web trading platform is available only in English.

Look and feel

The IG trading platform is one of the most intuitive and well-designed web trading platforms we have seen. 

You can easily customize the trading platform. The flexible design allows you to move windows around and save layouts. You can create watchlists and there is also a one-click trading feature.

IG review - Web trading platform

Login and security

You can easily set up two-step authentication. You have to download the 'IG Authentication' app on your mobile and activate the two-factor authentication.

Search functions

You can search for products in the sidebar on the left. It works as you would expect. You can also browse available investment options by typing manually or browsing through the asset class categories.

IG review - Web trading platform - Search

Placing orders

You can choose from many order types:

  • Market order
  • Limit order
  • Stop-loss order
  • Trailing stop order
  • Guaranteed stop order

If you are not familiar with the basic order types, read this overview.

There are also order time limits you can use:

  • Good 'til canceled (GTC)
  • Good 'til date (GTD)

IG review - Web trading platform - Order panel

Alerts and notifications

Alerts and notification are all available, they can be set if you go to 'MyIG,' then 'Settings,' and click on 'Communication Preferences.'

You can choose from multiple alert and trade/deal notifications:

  • price alert (prices reach an important level)
  • indicator alert (technical tools reach an important level)
  • economic alert (big economic announcements)
  • automated or manual deal opening/closing
  • automated or manual position editing

Portfolio and fee reports

IG provides clear portfolio and fee reports. The main performance and status of your account is available on the dashboard of your live account. By opening the menu on the right, you can see the 'History' tab where you can check all the costs and returns on past trades. 

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75% of retail CFD accounts lose money

#3 IG
Mobile trading platform
5.0

The IG mobile trading platform is easy to use and has great functionalities. On the down side, there is no two-step authentication.
Pros Cons
User-friendly No two-step (safer) login
Good search function No Touch/Face ID login
Good variety of order types

You can use both IG's own mobile trading platform and the MetaTrader 4 platform. They are available for both iOS and Android devices. 

In this review, we tested IG's own platform on an Android device. 

The mobile platform is available only in English.

Look and feel

The IG mobile platform is very intuitive, similarly to the web trading platform. You can easily find all available features.

The design is OK, nothing great, and not as good as the web trading platform.

IG review - Mobile trading platform

Login and security

You can use only a one-step login. A two-step login would be safer.

You can't use fingerprint or Face ID authentication either. Providing this feature would be more convenient.

Search functions

The search functions are the same as at the web trading platform. When searching, the assets are categorized. 

IG review - Mobile trading platform - Search

Placing orders

You can use the same order types and order time limits as the ones on the web trading platform

IG review - Mobile trading platform - Order panel

Alerts and notifications

The mobile platform's alerts function is not as extensive as the web trading platform's. You can set only price alerts.

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75% of retail CFD accounts lose money

#3 IG
Desktop trading platform

IG's in-house developed trading platform has no desktop version. If you prefer a desktop-based platform, you can use only MetaTrader 4.

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75% of retail CFD accounts lose money

#3 IG
Research
4.0

IG offers user-friendly research tools. Its news flow and charting tools are great. On the other hand, fundamental data is not available.
Pros Cons
Good interactive chart No fundamental data available
Trading ideas
Quality news flow

You'll find IG's research tools on the trading platform. Just like the trading platform, the research tools are only available in English.

Trading ideas

IG provides trading ideas. You can find ideas about the direction of specific assets if you click on the 'Signals' section. e left-side menu.

IG review - Research - Signals

Fundamental data

IG does not offer fundamental data.  

Charting

IG has good charting tools. You can easily edit and save your charts. We also liked that you can mark the date of major economic events on the charts in a quick and simple way. There are 25 technical indicators available that you can use for charting.

IG review - Research - Charting

News feed

IG has a pretty good news function that is powered by Thomson Reuters. You can get the news directly from the web platform. There is no separate news function on the mobile platform but you can find related news for specific financial instruments.

In addition to the Thomson Reuters news ticker, you can also read tweets from Twitter.

We liked IGTV, IG's built-in news video service on the web trading platform, which publishes four editions each day. By watching these videos you can stay up-to-date on major news developments, and get analysis on the charts for key forex pairs, commodities and stock indices.

IG review - Research - News

Other research tools you will enjoy

IG Community is an innovative forum for IG customers. Users can share their trading ideas here, which may help you to make a trading decision.

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75% of retail CFD accounts lose money

#3 IG
Verdict

IG is one of the biggest and most reliable CFD brokers. It is regulated by several financial authorities around the world. IG Group is listed on the London Stock Exchange.

IG has one of the best web trading platforms Brokerchooser tested. The deposit and withdrawal conditions are great. You can also educate yourself with great educational materials.

On the other hand, there are some drawbacks. The stock CFD fees are high and the product portfolio in most countries is limited to forex, CFDs, and options. The phone customer service has also low quality.

Feel free to test IG's first-class trading platform since there is no minimum funding amount for bank transfers and you can easily open a demo account too. 

IG
Summary IG is a CFD and forex broker. It is listed on the London Stock Exchange and regulated by several authorities globally, including the top-tier FCA.
Fees score 3.0
Recommended for Traders of any experience level looking for an easy-to-use trading platform

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75% of retail CFD accounts lose money

XTB Logo

#4 Best trading platform for Europeans
XTB

4.6

XTB is a global CFD and forex broker with headquarters in London and Warsaw. The company is regulated by several financial authorities worldwide, including the UK's Financial Conduct Authority (FCA) and the Polish Financial Supervision Authority (KNF). XTB is listed on the Warsaw Stock Exchange.

XTB is considered safe because it is regulated by at least one top-tier financial authority, the FCA, and is listed on a stock exchange.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service

Pros Cons
Low forex and stock index CFD fees High fee for stock CFD
Free and fast deposit and withdrawal Limited product portfolio, mostly CFD and FX
Easy and fast account opening Poor email support

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75% of retail CFD accounts lose money

#4 XTB
Web trading platform
4.0

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, a two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function

You can choose between two trading platforms:

  • xStation 5, XTB's own trading platform
  • MetaTrader 4, a third-party tool

In this XTB review, we tested the xStation 5. This trading platform is available in many languages: 

XTB web trading platform languages
Arabic Bulgarian Chinese Czech English
French German Hungarian Italian Japanese
Polish Portuguese Romanian Russian Slovenian
Spanish Thai Turkish Vietnamese  

Look and feel

At first glance, xStation 5 might appear like a platform designed for professional users, but as you start to use it you will find it well-designed and user-friendly, and you will be able to use it with ease, even if you are a starter.

You can easily customize the web trading platform.

XTB review - Web trading platform

Login and security

There is only a one-step login. A two-step login would be more secure.

Search functions

The search function is good. There are different ways you can search for an asset by clicking on ‘Market Watch':

  • Type the name of the product in the search bar.

  • Browse the various categories and product types. For example, if you want to trade with a US stock CFD, you just click on the stock type and select the US.

XTB review - Web trading platform - Search

Placing orders

You can use these order types:

  • Market
  • Limit 
  • Stop-loss
  • Trailing stop 

If you are not familiar with the basic order types, read this overview.

There is also one order time limit you can use: Good 'till Time (GTT).

A useful feature of the platform is the trader calculator, which helps you to calculate the margin, the commission and other important parameters for trades. 

XTB review - Web trading platform - Order panel

Alerts and notifications

We liked the ease of setting alerts and notifications. You can set up email, SMS and push notifications for important events such as margin calls, deposits and withdrawals, your closed/open positions and other features.

Portfolio and fee reports

The platform has clear portfolio and fee reports. You can find them under the 'History' tab, with the profit/loss of your positions. Daily email reports are also available.

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75% of retail CFD accounts lose money

#4 XTB
Mobile trading platform
4.0

The XTB mobile platform has a good search function with a modern design. On the other hand, there is no two-step authentication.
Pros Cons
User-friendly No two-step (safer) login
Price alerts
Modern design

Both xStation 5 and MetaTrader 4 have mobile platforms on iOS and Android. You can also use an Apple Watch. Similarly to the web trading platform, we tested xStation's mobile application and we used an Android device.

The mobile trading platform is available in the same languages as the web trading platform.

Look and feel

XTB's mobile trading platform is user-friendly and well-designed. You can easily find every important feature.

XTB review - Mobile trading platform

Login and security

The application provides only a one-step login. A two-step login would be more secure.

If you use an iOS device, you can set fingerprint authentication. However, this feature is not available on Android devices.

Search functions

xStation's search function is great. You can type the name of the product in the search bar or just browse the different categories.

XTB review - Mobile trading platform - Search

Placing orders

You can use only basic order types:

  • Market
  • Limit
  • Stop-loss

There is also one order time limit you can use: Good 'till Time (GTT).

XTB review - Mobile trading platform - Order panel

Alerts and notifications

You can set a lot of different types of alerts and notifications, including price alerts or notifications about important market news.

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#4 XTB
Desktop trading platform
4.0

XTB's xStation 5 platform has a desktop version as well. In functionality and design, it's completely the same as the web trading platform.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good customizability (for charts, workspace)

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#4 XTB
Research
4.0

XTB's research tools are user-friendly. There are a lot of tools that help you to select instruments to trade, and the news flow has some trading idea recommendations too. However, detailed fundamental data is not available.
Pros Cons
Good interactive chart Limited fundamental data
Quality news flow
User-friendly

XTB's research tools come from two sources:

  • The xStation 5 trading platform.
  • The XTB website, under the 'Market Analysis' section.

Research tools are available in a lot of languages, such as English, Arabic, or Chinese. However, when we set the platform's language to English, we still got the news commentary in our own language. 

Trading ideas

XTB provides a few trading ideas, which can be found in the news flow. These trading ideas are usually short-term and based on technical tools.

However, these trading ideas are not structured. For example, when you search for trading ideas about a specific asset, you get a lot of search results and it's not easy to find the right one.

Fundamental data

You can only find limited fundamental data. There are a few basic facts, such as the P/E ratio or debt/equity ratio. You can't access financial statements or operational metrics.

Charting

XTB has good charting tools. You can easily edit and save the charts. You can use 35 technical indicators, which is in the mid-range compared to other brokers.

XTB review - Research - Charting

News feed

The news is provided by XTB's own research team, which was voted the Best EMEA FX Forecaster by Bloomberg in 2018 Q2 and Q3. The news is a mix of recommendations, data releases from the economic calendar, trader's talks and brief messages about current market developments.

By using the economic calendar, you can see the upcoming events. When you select an event, you can read a short summary and check the historical data.

XTB review - Research - Economic calendar

Other research tools you will enjoy

The 'Market sentiment' feature shows the percentage of the clients' long and short positions. Another tool, the 'Heatmap,' visualizes winners and losers.

XTB review - Research - Market sentiment

The 'Stocks scanner' uses 15 factors to filter stocks you want to trade with, including market capitalization, P/E, beta and debt-to-equity ratio.

XTB review - Research - Stock screener

Another useful tool is the 'ETF scanner.' This is very similar to the stock scanner, providing 10 filters such as cumulative return or the assets' total value. When we tested this tool, only three ETFs were visible and the filters we tried to change were not always working.

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#4 XTB
Verdict

XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA, and it is listed on the Warsaw Stock Exchange. 

On the plus side, its forex and stock index CFD fees are low and the deposit and withdrawal process is free and fast. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. The stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Lastly, its email support did not reply to our queries.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options and a fast account opening. Feel free to test it using a demo account.

XTB
Summary XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA and Poland's KNF.
Fees score 4.0
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

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Best trading platform for Europeans
Comparing broker fees

Fee was not a selection factor for the best trading platform but we also wanted to let you know what you have to pay if you want to sign up with the best trading platforms for Europeans.

If your primary focus is only on fees we recommend you to check out the best discount brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees..

You can compare below the trading fees of the biggest stock markets and the most traded currency pair, and some non-trading fees too. Hold tight, this will be exciting.

Best trading platforms for Europeans in 2020 - Trading fees
Saxo Bank Oanda IG XTB
US stock $10.0 - $15.0 $10.0
UK stock $9.6 - $9.6 $10.0
EURUSD benchmark fee $15.5 $15.9 $16.9 $15.0

There are huge differences between trading fees, even if you want to do a simple US stock trade. To find out more about how the fares compare between the different trading brokers, check out our ultimate comparison table.

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Best trading platforms for Europeans in 2020 - Non-trading fees
Saxo Bank Oanda IG XTB
Account fee No No No No
Inactivity fee Yes Yes Yes No
Withdrawal fee $0 $0 $0 $0

Best trading platform for Europeans
Keep in mind - safety

We recommend only quality brokers, so you can be sure none of the listed online brokers are scams. They are regulated by at least one top-tier regulator. Some of them are also listed on an exchange, and some have a banking background.

However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash on your account. These are usually held in segregated accounts, so even in case of the bankruptcy of the broker, you are safe.

If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the investor protection of the country where the broker is regulated.

The investor protection amount differs from country to country, so worth checking this before opening an account.

Investor protection and regulation
Saxo Bank Oanda IG XTB
Investor protection amount €100,000 for cash deposits and €20,000 for securities in most European countries £85,000 in Europe, none in the US £85,000 in the UK, €20,000 in the rest of Europe excl. Switzerland, no protection in the US and many other countries £85,000 for UK clients, €20,000 for Hungarian/Italian/Cypriot clients, €20,100 for other European clients
Country of regulation Denmark, UK, France, Switzerland, Singapore, Japan, South Africa, Australia USA, UK, Australia, Singapore, Canada, Japan UK, EU, Switzerland, US, Singapore, Japan, South Africa, UAE, Australia, New Zealand UK, Poland, Cyprus, Belize
Listed on stock exchange No No Yes Yes
Banking background Yes No No No

Best trading platform for Europeans
What makes the best trading platform

An online broker and its trading platform can easily make or break anyone's success in online trading. It greatly influences both your comfort and performance as a trader or investor. It is crucial to choose the online broker with the best trading platform.

A best trading platform in our definition means that the trading platform and research tools you use is great. The trading platform is important for executing your trades, while the research tools are necessary for getting trading ideas. We will uncover the most important criteria you should keep an eye on to find the best trading platform.

7 important criteria for the best trading platforms in 2020
1. User-friendliness A user-friendly and well-equipped trading platform can significantly increase your trading comfort.
2. Safe login Two-step authentication during the login can protect you from unauthorized persons using your trading account.
3. Search function Search for buying Apple or Amazon? On some trading platform, it’s not a piece of cake. Check out how easily you can use this feature.
4. Order types Order types are crucial for risk management. Providing stop orders is a must, while conditional orders are nice to have.
5. Price alerts and notifications Want to be up-to-date about the price moves or the execution of your orders? Easy to set price alerts and notifications surely help you.
6. Portfolio and fee report Portfolio reports help you to easily check the performance of your trades. The fees you pay to the broker are not always transparent even if it’s an important factor in your success.
7. Research tools A broker providing research tools for both technical or fundamental analysis is not usual. Check out what research tools are provided.

Best trading platform for Europeans
Bottom line

You saw the details, now let's zoom out. Here are the best trading platform for Europeans in 2020:

Best trading platform for Europeans in 2020
Saxo Bank Oanda IG XTB
Recommended for Investors and traders looking for a great trading platform and solid research Forex traders who value a user-friendly platform and great research tools Traders of any experience level looking for an easy-to-use trading platform Forex and CFD traders looking for low fees and great deposit/withdrawal service
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73.5% of retail CFD accounts lose money
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All brokers are considered a great choice. Pick the winner, or any runner-up and take the next step in your investment journey. Let us know what you think in the comments section.

Still unsure? Use the broker finder and find the best broker for you or learn more about investing your money.

Tibor Bedő

Tibor Bedő

Co-founder, CEO

Author of this article

Tibor believes having a good stockbroker is everybody's privilege. He worked extensively in the financial industry, including at Morgan Stanley and at The Boston Consulting Group (BCG). He advised leading European banks on strategy, finance and risk management.

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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