XTB is a publicly listed broker offering its proprietary trading platform, competitive commission-free costs, and 2,100+ CFDs. Is XTB the best choice for you? After reading our detailed review of XTB alternative brokers, trade with the best broker for your needs.
Overview of XTB Alternatives
 |  |  |  |  | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Trading View | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader, Trading View |
Regulators | Yes CMA, CySEC, FCA, FSC Mauritius, FSCA | Yes ASIC, CySEC, FCA, SCB | Yes ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | Yes ASIC, CySEC, DFSA, FSC Belize | Yes FMA, FSA |
Minimum Deposit | |||||
Automated Trading | |||||
Social/Copy Trading | N/A | N/A | |||
Average Trading Cost EUR/USD | 0.1 pips | 1.0 pips | 1.1 pips | 0.1 pips | 1.3 pips |
| Visit Website | Visit Website | Get Started Visit Website75-95% of traders on margin lose | Visit Website | Visit Website |
Important Factors in Finding XTB Alternatives
Our XTB alternatives analysis has focused on the five categories listed below, as most traders consider them the key factors for successful trading.
Here are the five most crucial factors when evaluating XTB alternatives:
1. Fees: They directly impact a trader’s profitability and can indicate which strategies a broker supports or discourages, making them our top priority.
2. Account Opening: Brokers usually have a user-friendly online application, minimal personal data collection, and mandatory account verification, but brokers differ in the minimum deposit requirement.
3. Deposit & Withdrawals: All competitive brokers offer bank wires and credit/card deposits, and many brokers support some alternative geographically restricted non-banking options or localized options dependent on authority.
4. Trading Platforms: With algorithmic trading accounting for 80% of daily order flow, MT4 is the undisputed market leader, but some brokers push their proprietary alternatives.
5. Markets & Products: Traders must ensure their broker offers the desired markets and products.
FXTM
Scalpers and algorithmic traders will benefit from the ultra-low trading fees at FXTM, an industry leader in this category.
Fees
Commission-based Forex fees start from raw spreads of 0.0 pips for a commission between $0.80 and $4.00 per 1.0 standard round lot.
Pros | Cons |
|---|---|
Excellent commission-based Forex pricing environment and transparency | $5 monthly inactivity fee after six months of dormancy |
Price improvement technology with an average cost reduction of $3.00 per lot | |
No internal deposit or withdrawal fees |
Account Opening
Traders can open an account by submitting their name, country of residence, valid phone number, e-mail, and password.
Pros | Cons |
|---|---|
User-friendly, digital account application | Limited account base currencies |
Fast account opening process | |
Low minimum deposit requirement |
Deposit & Withdrawals
Bank wires, credit/debit cards, Skrill, Neteller, Perfect Money, PayRedeem, GlobePay, Google Pay, FasaPay, M-Pesa, and localized payment methods are available.
Pros | Cons |
|---|---|
No deposit fees | Potential currency conversion fees |
Fast deposit processing times | |
User-friendly back office |
Trading Platforms
The leading algorithmic trading platform MT4 and its successors MT5 are available, while FXTM also developed a user-friendly mobile app.
Pros | Cons |
|---|---|
MT4/MT5 trading platforms for algorithmic and copy trading | Insufficient trading platform upgrades |
Proprietary mobile app ideal for the in-house copy trading service | |
MT4 plugin and actionable trading recommendations |
Markets & Products
Traders get a balanced asset selection consisting of fewer but highly liquid trading instruments with 58 currency pairs for Forex traders.
Pros | Cons |
|---|---|
A balanced choice of liquid assets covering five sectors | No ETFs |
Physical share dealing in 399 US blue chip stocks | No bonds or other fixed-income assets |
Copy trading via FXTM Invest and embedded MT4/MT5 services |
Verdict
FXTM trumps XTB with its ultra-low trading fees.
To learn more about FXTM and its offering, read our up-to-date FXTM Broker Review.
Eightcap
The ability to deploy algorithmic trading solutions in a code-free environment ensures a distinct competitive edge.
Fees
Traders get commission-based fees with minimum Forex spreads starting at 0.0 pips for a $7.00 commission.
Pros | Cons |
|---|---|
Competitive Forex fees | No volume-based rebate program |
No non-trading fees | |
Good pricing transparency |
Account Opening
To open an Eightcap account, you need only an e-mail address, desired password, name, and country of residence.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Seven account base currencies |
Deposit & Withdrawals
Traders may use bank wires, credit/debit cards, Skrill, Neteller, PayPal, BPay, Union Pay, FasaPay, PIX, Dragon Pay, cryptocurrencies, and localized payment processors to deposit & withdrawal from Eightcap.
Pros | Cons |
|---|---|
No deposit fees or withdrawal fees | Potential currency conversion fees |
Fast payment processing times | |
User-friendly back office |
Trading Platforms
MT4 with the Capitalise AI plugin, MT5 with the FlashTrader plugin, and TradingView with its 50M+ social trading community ensure traders have an edge.
Pros | Cons |
|---|---|
VPS hosting for low-latency 24/5 Forex trading | None |
Capitalise AI for code-free algorithmic trading | |
TradingView for social traders |
Markets & Products
With 800+ instruments across five asset classes, traders get a well-balanced selection suitable for most strategies.
Pros | Cons |
|---|---|
Well-balanced asset selection | No bonds or other fixed-income assets |
Excellent beginner research and education via Eightcap Labs and Trade Zone | No ETF trading |
AI-powered economic calendar |
Verdict
Eightcap bests XTB with the Capitalise AI plugin for MT4 ,Read our thorough Eightcap Broker Review to find out more about the pros and cons of this broker.
Pepperstone
Low trading fees, volume-based rebates, and innovative infrastructure make Pepperstone a leading algorithmic trading broker.
Fees
Traders benefit from competitive commission-based costs with minimum Forex spreads of 0.6 pips, including commissions.
Pros | Cons |
|---|---|
Competitive Forex fees | Fixed administration fee on trades maintained past ten trading days |
Low-cost equity trading | |
Rebate program |
Account Opening
Pepperstone maintains a fast, secure online application form, allowing traders to start with their e-mail, Google, or Facebook IDs.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Ten account base currencies |
Deposit & Withdrawals
Traders may use bank wires, credit/debit cards, POLi, BPay, PayPal, Neteller, Skrill, and Union Pay for Pepperstone deposits & withdrawals.
Pros | Cons |
|---|---|
No deposit fees | Currency conversion fees |
No withdrawal fees | |
Same-day withdrawal processing |
Trading Platforms
The excellent choice includes upgraded MT4/MT5 trading platforms, cTrader, and TradingView.
Pros | Cons |
|---|---|
Capitalise AI for code-free algorithmic trading | None |
28 MT4 upgrades plus Autochartist | |
Choice of third-party copy trading providers |
Markets & Products
The range of available products includes 1,200+ CFDs, ETFs, and currency indices.
Pros | Cons |
|---|---|
Good Forex selection with deep liquidity | No bonds or other fixed-income assets |
Well-balanced | Limited cryptocurrencies |
Premium client services |
Verdict
Pepperstone trumps XTB due to Capitalise AI, To read more about Pepperstone, find our up-to-date Peppesrtone Broker Review.
XM
Traders get low minimum deposits and excellent promotions, including a loyalty program, making XM a leading CFD broker.
Fees
The commission-free cost structure at XM, includes minimum Forex with spreads from 0.6 pips.
Pros | Cons |
|---|---|
Competitive Forex fees | None |
Swap-free trading on select assets | |
Loyalty program |
Account Opening
The application form requires an e-mail address and desired password to get started.
Pros | Cons |
|---|---|
User-friendly, digital account application | None |
Fast account opening process | |
Ten account base currencies |
Deposit & Withdrawals
Payment processors are bank wires and credit/cards, plus numerous localized payment processors, listed in the back office by availability.
Pros | Cons |
|---|---|
No deposit fees | Currency conversion fees |
No withdrawal fees | |
Reimbursement on bank wires exceeding $200 |
Trading Platforms
Traders get upgraded MT4/MT5 trading platforms, plus the MT4 Multiterminal for account managers.
Pros | Cons |
|---|---|
Six custom MT4/MT5 plugins | None |
MT4 Multiterminal | |
VPS hosting for low-latency 24/5 market access |
Markets & Products
An excellent choice of cryptocurrencies and equity CFDs comprise the bulk of the 1,000+ instruments.
Pros | Cons |
|---|---|
Competitive cryptocurrency selection with 24/7 trading | No bonds or other fixed-income assets |
Well-balanced | |
Superb research, including Trading Ideas and Discover |
Verdict
XM outshines XTB with its loyalty program and incentives.
Learn more about XM from our updated XM Broker Review.
BlackBull Markets
An industry-leading asset selection in a low-cost ECN pricing environment makes BlackBull Markets a compelling broker.
Fees
The Blackbull commission-based trading fees include minimum Forex spreads from 0.0 pips for a commission between $4.00 and $6.00 per lot.
Pros | Cons |
|---|---|
Competitive Forex fees and low swap rates | None |
No internal deposit or withdrawal fees | |
Pricing transparency |
Account Opening
Traders can open an account with Blackbull Markets via Google, Facebook, or Apple IDs or by supplying their desired e-mail address, password, name, date of birth, country of residence, and phone number.
Pros | Cons |
|---|---|
Digital account application | None |
No data mining | |
Well-regulated and trusted |
Deposit & Withdrawals
Bank wires, credit/debit cards, Skrill, Neteller, FasaPay, Union Pay, POLi, Boleto, beeteller, AstroPay, FXPay, HexoPay, PaymentAsia, Use Pay, SEPA, Help2Pay, cryptocurrencies, and localized options are available.
Pros | Cons |
|---|---|
No deposit fees | $5 withdrawal fee |
Low minimum deposit requirements | |
Choice of deposit currencies |
Trading Platforms
Traders get MT4, MT5, cTrader, TradingView, BlackBull CopyTrader, and BlackBull Trade, which ensure traders can trade the markets their way.
Pros | Cons |
|---|---|
VPS hosting for low-latency 24/5 Forex trading | None |
API trading | |
ZuluTrade, Myfxbook Autotrade, and BlackBull Social for copy traders |
Markets & Products
The excellent asset selection of 26,000+ trading instruments includes 200 Forex pairs and physical share dealing.
Pros | Cons |
|---|---|
Excellent asset selection | None |
Cutting-edge trading infrastructure | |
Quality research and education for beginners |
Verdict
BlackBull Markets leads XTB with its asset selection and trading infrastructure.
MultiBank FX
A super choice for demanding traders, MultiBank FX is a liquidity provider to other brokers who use its competitive pricing as liquidity for their trading services.
Fees
MultiBank offers competitive commission-free costs, including minimum Forex spreads from 0.0 pips.
Pros | Cons |
|---|---|
Ultra-low commission-free Forex fees | Expensive trading fees for deposits below $1,000 |
Volume-based rebate program | $60 monthly inactivity fee after three months of dormancy |
No internal deposit or withdrawal fees |
Account Opening
The user-friendly online registration form only asks for a name, e-mail, and desired password.
Pros | Cons |
|---|---|
Digital account application | None |
Well-regulated bank and broker | |
No data mining |
Deposit & Withdrawals
To Withdraw from MultiBank, traders can use bank wires, credit/debit cards, cryptocurrencies, Neteller, Skrill, Pagsmile, Myfatoorah, PlusWallets, Thai QR Payment, PayTrust, Pay Retailers, KoraPay, PaymentAsia, Boleto, PIX, SPE, Praxis, GCash, Dragonpay, and GlobePay.
Pros | Cons |
|---|---|
No deposit fees or withdrawal fees | Potential currency conversion fees |
No minimum withdrawal requirements | |
Fast withdrawal processing times |
Trading Platforms
MultiBank offers MT4, MT5, its proprietary MultiBank FX, plus an in-house copy trading service.
Pros | Cons |
|---|---|
MAM/PAM accounts for account management services | None |
API trading for advanced algorithmic traders | |
Free VPS hosting |
Markets & Products
Traders benefit from a market-leading asset selection, including 14,000+ CFDs on 18 global stock markets.
Pros | Cons |
|---|---|
Well-balanced asset selection | None |
Cutting-edge trading infrastructure | |
No restrictions on trading strategies |
Verdict
MultiBank FX beats XTB with its asset selection and trading services.
Read more about MultiBank, in our updated "MultiBank Broker Review".
Bottom Line
Our review of XTB alternatives concluded with the following results:
- FXTM maintains one of the cheapest cost structures, ideal for high-volume traders
- Eightcap allows algorithmic trading in a code-free environment via Capitalise AI
- Pepperstone is an outstanding algorithmic trading broker offering Capitalise AI
- XM shines with its bonuses and incentives in its low-cost trading environment
- BlackBull Markets shines with its asset selection and trading infrastructure
- MultiBank FX is a top-tier liquidity provider with an excellent asset selection
