xtb

Xtb is a contract for difference (CFD) broker that enables traders to speculate on the price of equities, indices, forex, commodities, and cryptocurrencies. CFDs enable traders to speculate on an asset without actually owning the underlying asset. CFDs allow traders to apply large amounts of leverage and also to take short positions. This is a benefit as most cryptocurrency trading services do not enable traders to take short positions.

Leverage of up to 2:1 is available in the cryptocurrency CFD's. This is a lower leverage than most competitors with some offering 1:30. The maximum traders can apply in the cryptocurrency products is $15,000. Contracts expire after seven days which is a drawback for traders seeking to make longer-term speculations. There is five cryptocurrency CFD's available in total which is far fewer than competitors with some competitors offering above 20 products. The cryptocurrency CFD's include Bitcoin, Ethereum, Dash, Litecoin, and Ripple. The market trades from Saturday 4 am to Friday 10 pm meaning there are six hours where the products are non-tradable. This also explains why the contract expires after seven days. Many competitors offer their products 24/7.

In terms of fees, they are not easily found on the website. A separate document can be found which discloses the fees. Commision is charged per lot open where the lot varies per instrument. The fee is approximately $3.50 for opening each lot and $3.50 for closing each lot which is a high fee. There is also a hefty fee for withdrawing when there is a small balance in your account. If users withdraw when there is less than $80 in the account, they will be charged a fee of $16.