XTB Alternatives

The best alternatives to XTB are

1. IG - Global CFD and FX broker
2. eToro - Global social trading broker
3. City Index - Global CFD and FX broker
4. Plus500 - Global CFD and FX broker

Let's see in a bit more detail how the XTB alternatives compare to XTB and each other:

Why are these brokers considered good alternatives to XTB? There are many areas based on which XTB can be compared with others. When we say a given online broker is a good alternative to XTB we mean these brokers are comparable in the following areas:

• The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
• The type of clients they target, i.e. beginners, experienced investors, or day traders.

XTB alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

• XTB is recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools
• IG is recommended for traders with any experience level aiming for a great and easy-to-use trading platform
• eToro is recommended for traders and those interested in social trading (copying other traders’ trades)
• City Index is recommended for cfd and forex traders looking for low forex fees and great research tools
• Plus500 is recommended for experienced traders looking for an easy-to-use platform, with great user experience.

Important factors of finding XTB alternatives

So far Brokerchooser has reviewed 56 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

• open a live account
• check over 100 criteria, with weighting based on readers' preferences
• refresh data regularly

Whether XTB or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. XTB is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost XTB alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At XTB this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at XTB, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given XTB alternative is a must.

Now let's dive into the details of how XTB and its alternatives perform in the most important areas!

XTB alternatives
XTB

Best CFD broker

XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via the UK or a Polish entity. We tested the UK entity but will provide info on all entities.

XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including the UK FCA.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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 great funding and withdrawal processes and research tools

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76% of retail CFD accounts lose money

Fees 4 stars

XTB has average trading fees and low non-trading fees.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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76% of retail CFD accounts lose money

Account opening 5 stars

XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.

Learn more about XTB minimum deposit here.

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76% of retail CFD accounts lose money

Deposit and withdrawal 5 stars

XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.

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76% of retail CFD accounts lose money

Web trading platform 4 stars

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.

Learn more about XTB's web trading platform in the detailed XTB review.

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76% of retail CFD accounts lose money

Markets and products 2 stars

UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.

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76% of retail CFD accounts lose money

Verdict

XTB is a good broker. It is regulated by more than 10 authorities globally, including the UK FCA, and it is listed on the Warsaw Stock Exchange. 

On the plus side, the deposit and withdrawal process is fast. We liked the seamless and hassle-free account opening. The research tools are easy-to-use.

XTB has some drawbacks though. Its product range is mainly limited to FX and CFDs, but there are stocks trading is also available in some countries. When opening the account the sales team can be pushy. We also missed the 24/7 customer support.

We recommend XTB for clients who prefer forex and CFD trading and are looking for fast account opening, cheap money withdrawal and great research tools. Feel free to test it via the demo account.

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76% of retail CFD accounts lose money

XTB alternatives
IG

Best FX broker

IG was established in the UK in 1974 and is one of the biggest CFD providers in the world. It is regulated by several bodies globally, including top-tier authorities like the FCA. 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.

IG is primarily a CFD broker. If you are from the US, you can only trade with forex. 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 with any experience level aiming for a great and easy-to-use trading platform

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75% of retail CFD accounts lose money

Fees 2 stars

IG's trading fees are high and non-trading fees are average. Its financing rate is one of the best.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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75% of retail CFD accounts lose money

Account opening 4 stars

The account opening process is fast, user-friendly, and fully digital. On the other hand, the sales team is quite pushy.

If you are interested more in IG minimum deposit, this overview will help you.

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75% of retail CFD accounts lose money

Deposit and withdrawal 5 stars

You have several options to transfer money. The transfer process is user-friendly and fast.

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75% of retail CFD accounts lose money

Web trading platform 5 stars

IG's web platform is great. It is easy to use, has all necessary functions and can be customized. Even first-time users can familiarize themselves with it instantly.

Learn more about IG's web trading platform in the detailed IG review.

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75% of retail CFD accounts lose money

Markets and products 3 stars

At IG, most clients can only trade with CFDs, forex and options. There are literally thousands of CFDs available to trade. The UK and some other clients can also trade with shares.

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75% of retail CFD accounts lose money

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 the best web trading platform Brokerchooser tested. Its customer service is professional and relevant. The deposit and withdrawal conditions are also great.

The biggest drawback is the fee structure. IG is quite pricey, especially when you trade with lower amounts. IG's product portfolio is limited to forex, CFDs and options; however, in the UK and some other countries, stocks are also available. US clients can trade only with forex.

It is quite easy to test IG's first-class trading platform since there is no minimum funding for bank transfer and you can easily open a demo account. 

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75% of retail CFD accounts lose money

XTB alternatives
eToro

Best social trading

eToro is a well-known fintech startup, an Israeli social trading broker established in 2007. eToro serves UK clients by an FCA regulated entity and Australians by an Australian entity. All other customers are served by a Cypriot entity. eToro is not listed on any exchange, does not disclose its annual report on its site and does not have a bank parent. It is also one of the 5 best trading platforms for Europeans.

eToro is considered safe because it's UK arm is regulated by a top tier regulator and it is a well-known fintech startup.

eToro is a multi-asset platform which offers primarily CFDs, but you can also invest in stocks and crypto assets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 traders and those interested in social trading (copying other traders’ trades)

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66% of retail CFD accounts lose money

Fees 4 stars

eToro offers free stock trading in Europe and has low fees for non-EU clients. On the negative side, the non-trading fees and financing rates are high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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66% of retail CFD accounts lose money

Account opening 5 stars

Account opening is enjoyable and super fast.

If you are interested more in eToro minimum deposit, this overview will help you.

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66% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

It is easy to deposit with a lot of options, including credit cards. However, there is a withdrawal fee, and only USD accounts are available.

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66% of retail CFD accounts lose money

Web trading platform 4 stars

eToro’s web trading platform is nice looking and easy-to-use. Getting your fee report is a bit of a pain.

Learn more about eToro's web trading platform in the detailed eToro review.

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66% of retail CFD accounts lose money

Markets and products 3 stars

At eToro you can trade with CFDs and forex. There are also real stocks, ETFs, and many cryptos. It also offers innovative services, like social trading or CopyPortfolio.

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66% of retail CFD accounts lose money

Verdict

When looking back, eToro was a bit unreliable in 2017 because of the huge demand for cryptos. It had problems in customer support and the platform sometimes froze. In our latest test eToro improved.

On the plus side, eToro has zero-commission stock trading in Europe. The account opening is really fast and seamless. It has also a lot of innovative features, like social trading.

It has some drawbacks though. Customer service was a letdown, the platform did not work on multiple occasions. Also, it has a tight product range which includes stocks and CFDs. Non-trading fees are high.

To sum up, we recommend eToro for social trading and cheap stock trading.

Risk disclaimer

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

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66% of retail CFD accounts lose money

XTB alternatives
City Index

City Index was founded in 1983 and it is a Global CFD and FX broker. It is regulated by top-tier regulators, like the UK FCA and the Australian ASIC.

City Index is considered safe because it has a long track record, its parent company is listed on stock exchange, and is regulated by top-tier regulators.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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 cfd and forex traders looking for low forex fees and great research tools

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72% of retail CFD accounts lose money

Fees 3 stars

City Index has average trading and non-trading fees. Its financing rates are low.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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72% of retail CFD accounts lose money

Account opening 4 stars

City Index account opening is fully digital and there is no minimum deposit. But, it can take more days.

If you are interested more in City Index minimum deposit, this overview will help you.

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72% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

City Index deposit and withdrawal are free and user-friendly. On the flip side, electronic wallets are missing and you cannot select your account currency.

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72% of retail CFD accounts lose money

Web trading platform 4 stars

City Index web trading platform is extremely customizable. It also has a lot of order types. On the flip side, there is no two-step login.

Learn more about City Index's web trading platform in the detailed City Index review.

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72% of retail CFD accounts lose money

Markets and products 2 stars

At City Index, you can trade only with CFDs, forex, and cryptos.

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72% of retail CFD accounts lose money

Verdict

In our City Index review, we tested City Index thoroughly and here is the verdict. It is an ok broker, especially if you want to concentrate on CFD and forex trading. 

On the bright side, it has low forex fees, high-quality research tools, and great customer support.

It has some drawbacks though. The CFD fees are quite high, the product portfolio is limited, and the desktop platform is not easy-to-use.

As there is no minimum balance, no withdrawal fee and inactivity fee only kicks in after one year, feel free to try it out.

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72% of retail CFD accounts lose money

XTB alternatives
Plus500

Plus500 is a CFD broker, established in Israel. It is listed on the Main Market of the London Stock Exchange. Plus500 subsidiaries are authorized and regulated by different regulators, including top-tier regulators like the FCA from the UK.

Plus500 is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.

Daytraders!: At Plus500 scalping is defined as "A trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker

 

Recommended for experienced traders looking for an easy-to-use platform, with great user experience.

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76.4% of retail CFD accounts lose money

Fees 4 stars

Plus500 has low trading fees and average non-trading fees. Financing rates are very high.

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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76.4% of retail CFD accounts lose money

Account opening 5 stars

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.

If you are interested more in Plus500 minimum deposit, this overview will help you.

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76.4% of retail CFD accounts lose money

Deposit and withdrawal 5 stars

Plus500's deposit and withdrawal are both great. You have many options, the process is easy-to-do and usually free of charge.

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76.4% of retail CFD accounts lose money

Web trading platform 4 stars

Plus500 trading platform is very easy-to-use and also looks great. On the flip side, it cannot be customized. 

Learn more about Plus500's web trading platform in the detailed Plus500 review.

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76.4% of retail CFD accounts lose money

Markets and products 2 stars

At Plus500 you can trade only with CFDs and forex. There are a lot CFDs, you can choose from almost 2,000.

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76.4% of retail CFD accounts lose money

Verdict

Plus500 is a good broker. It is for traders aware of the risks of CFD trading.

Is plus 500 safe? It is considered safe because it is listed on the London Stock Exchange and regulated by the FCA. If you are not from the UK, you will be most likely served by Plus500 Cyprus, and hence the Cypriot investor protection will apply.

Daytraders! At Plus500 scalping is defined as "A trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." If Plus500 believes you were following this strategy, your account might be blocked and closed. So if you plan to execute trades within 2 minutes, Plus500 is not your broker.

On the bright side, Plus500 platform is easy-to-use with a great user experience. Even the first time user can navigate the app with ease. Spreads are competitive, but there are really high financing rates. Therefore, fees can be really high. For this fee level, some research tools would have been nice. 

As there is no minimum balance, no withdrawal fee above $100, withdrawal and inactivity fee only kicks in after three months, feel free to try it out.

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76.4% of retail CFD accounts lose money

XTB alternatives
Bottom line

Based on our analysis, there are several good alternatives to XTB. They all offer similar products and target similar customers. Here's a recap of the results in a table.

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

AUTHOR

Dan Sallai

CMO

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

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