Is XTB good for UK services like ISA?
Reading time: 5 minutes
Inflation hits hard. And to fight it, ISAs - or generally, anything other than keeping your money in a piggybank - may help a bit with your finances.
When choosing a broker or a financial service provider for opening an ISA account, your first instinct might be to go with familiar, local names. But in some cases, global brokers might have better offers overall, and might suit your priorities better. Bad UX is daunting and haunting. And sometimes, it is hard to understand fee terms at financial services. This is what we want to help you with, so let's compare! Let's raise the first question: does XTB work as your main provider for your ISA account?
Sadly no, XTB is not a good choice as it doesn't have UK specific services, like ISA or SIPP accounts. Still, let's see how it compares in other dimensions.
It is an important step when you want to take your finances into your hands and find the best ISA broker for yourself. Our expert team has saved hours of work for you, and reviewed over a 100 brokers based on BrokerChooser's unique methodology. We checked — among other 500 criteria — safety, ease of account opening, fees, and education materials. This unique approach is also addressing the concerns of our UK readers based on their feedback to bring you the most viable choices.
Global vs UK providers: key info
While UK-focused full-service brokers might be better known in Britain, there are several benefits to choosing a global online broker. Their services are often cheaper than the prices of their local competitors. Plus, you also don't need to let go of tax efficient ways to invest (such as ISA or SIPP accounts), as some of these global brokers also offer a wide selection of local products.
| Full-service UK investment platforms | Discount/online global platforms |
|---|---|
| All-in-one package of a broad selection of financial services | Focuses only on brokerage and savings |
| Alternative wealth products, managed accounts | DIY investment and trading |
| Higher fees | Lower fees on avarage |
| Account opening can take longer and might require in-person process | Faster and online account opening |
Compare XTB vs. local brokers
In this table we compared the XTB and some of the top local UK financial institutions based on what they offer and for how much.
We have looked at what assets and financial products these firms offer, and how much it costs for you to grow your investments with them.
Now look at how easy it is for you to use these financial service providers.
How easy are these brokers for you to use?
|
Time to open account
|
1 day | 1 day | 1 day | >3 days | 1-3 days |
|---|---|---|---|---|---|
|
Fees class
|
Low | High | Average | Average | Average |
|
Withdrawal methods
|
Bank transfer | Bank transfer | Bank transfer | Bank transfer | Bank transfer, Credit/debit cards |
|
Quality educational texts
|
Yes | Yes | Yes | Yes | No |
|
Markets and products score
|
3.7 stars | 2.7 stars | 3.0 stars | 2.5 stars | 3.8 stars |
|
Mobile user-friendliness
|
Great | Great | Great | - | Great |
|
ISA available at broker
|
No | Yes | Yes | Yes | Yes |
The verdict on XTB:
- 💸 Fees: when it comes to trading and non-trading fees, XTB definitely does great.
- 📱 User experience: they are also good in UX. The investment journey on mobile shouldn't be a hassle, it is easily understandable.
- 📈 Market and product selection: when it comes to a broad product selection, you'll only find the most necessary assets for your investments. For a bigger selection, you might need to look for another service.
- ⏳ And the million-dollar question...what about ISA? Sadly, while all other aspects above might be good enough, you can only use XTB for regular trading and investing, but not for opening an ISA.
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Still not convinced?
No worries. Thankfully, our great team brought you a unique page to collect the best brokers to open an ISA account.
We are also collected all there is to know about the best investment providers in the United Kingdom.
And lastly, go no further if you in need of a personal recommendation and feel free to reach out to us via email!
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
Further reading
- Does XTB offer ISA accounts?
- Can you transfer an ISA to XTB?
- How can an ISA help protect your money from inflation at XTB?
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.
