XTB Platform Walkthrough
XTB is a popular online forex and CFD broker based in the U.K. Founded in Poland in 2002 as X-Trade Brokers, XTB now has offices in a dozen countries and lets its customers trade more than a thousand instruments, including currency pairs and CFDs for equities, indices, commodities, cryptocurrencies, and more. XTB has a low minimum account balance requirement of just 250 of your base currency ($250, €250, £250) and competitive fees, making it one of the top 10 forex brokers in Europe as ranked by the Forex Magnates Industry Quarterly Report.
XTB lets users access its back end via the popular standalone trading platform MetaTrader 4 (MT4) and also has its own web-based trading platform called xStation 5. xStation 5 is streamlined for the active trader and, while somewhat customizable, is limited in its features and flexibility. It lacks the in-depth research and analysis tools that traders may have come to expect from leading online brokers and doesn’t give customers access to options trading. It is also not available to U.S. residents.
In this walkthrough we’ll look mainly at the xStation 5 web platform, using the Chrome browser on a Windows 10 machine.
Homepage - XTB is a U.K.-based forex and CFD broker with 15 years of experience. It gives its global customers access to more than 1,000 instruments, including FX, equity and commodity CFDs, and more, through its xStation 5 web platform. Somewhat lacking in customizability and in-depth research and analysis tools, XTB may seem a bit bare bones compared to many of its competitors.
Login - Log into XTB with your username and password. XTB offers free demo accounts so you can give the platform a test drive before you decide to fund a live account.
xStation 5 - xStation 5 is XTB’s proprietary web-based trading platform. When you log into it, you’ll see the default trading layout. You can change to one of several other pre-defined layouts using the dropdown on the top right. You can also delete module windows, by clicking the X icon on the top right of each tab, or add tabs using the plus-sign (+) icon. However, your ability to customize is limited and the module locations are for the most part fixed on the screen. We’ll go through each of these modules in turn.
Market Watch - The Market Watch window is a watchlist of tickers and prices that appears on the left side, indicated by the red box. The window is segmented by asset type, which you can choose by selecting FX, Commodities (CMD), Indices (IND), Equities (ETQ), and so forth, from the line across the top. You can use these pre-defined watchlists or create your own watchlist, which will appear under the Favourites tab.
Quote - Click on a market in the Market Watch window to expand a Quote for that symbol. You’ll immediately see a red and green box, with the best bid and offer, where you can place a trade directly. Below that, you’ll get an idea of the market depth and liquidity. You’ll also notice a small grouping of icons just above the green Buy box for the quote. We’ll look at two of those icons next.
Instrument Information - The first icon on the Quote page is a little circle with the letter “i” inside it. Clicking on it will bring up the Instrument Information box, shown here. It provides information about the market and instrument, including its type, trading hours, price change, and a level of market sentiment based on XTB users’ activity.
Stop Loss/Take Profit - The next icon is SL/TP, which stands for Stop-Loss/Take-Profit. This lets you turn on automatic stop-losses to the downside and profit-taking orders to the upside based on the parameters of your choosing. Use the up and down tick arrows to set them.
Right-Click Menu - Right-click on a symbol in the Market Watch window to find a small dropdown menu, where you can open an order ticket, open a chart for the symbol, or remove the symbol from the watchlist.
Order Ticket – Instant execution - While you can trade directly from the Market Watch window quotes, opening an Order Ticket lets you create more sophisticated orders. For example, you can change the amount of margin (leverage) for an order and add stop-losses, trailing stops, and take-profit orders. Click the Sell or Buy button on the bottom of the ticket to enter your order. You’ll notice from the tab on the top of the order ticket that this example is for an instant execution, or market order.
Order Ticket – Pending Order - You can enter a limit order or set the amount of time an order is good for by selecting the Pending Order tab in the order ticket window.
Order Ticket – Confirm Order - Before your order is sent to the market you’ll have a chance to review the details and cancel the order if something is amiss. Active traders who don’t want to be bothered with this step can turn the confirmation window off by checking the Do Not Show Again box on the lower left.
Account Summary - In the Market Watch box you’ll also find a tab for Account Summary. If you don’t see this tab, you can add it by clicking on the plus-sign (+) icon. The Summary shows your current account balances, margin levels, and profit/loss.
Charts - Charts appear on the default layout in the main window, just to the right of the Market Watch module. For the market technician in you, these charts are customizable with overlays, indicators, and studies. Right-click on the chart window to bring up a charting dropdown menu.
Chart Preferences - From the dropdown charts menu, you can update and set your charts preferences.
Research & Insights
News - Click the News tab to get macro news or company and asset-specific headlines. Click on a headline to read the full story.
Economic Calendar - Geopolitical and macroeconomic events and data can move global markets, so click on the Calendar tab if you want to see what events are coming up. Events are tagged by the country they are from, the indicator’s impact on markets, and both historic and anticipated value.
Statistics - Track your account performance with the Statistics tab. You’ll be able to see from this dashboard how many of your trades are profitable, how long you keep positions on average, and how many trades you’ve made.
Market Sentiment - You’ll find a small set of helpful analysis tools under the Market Analysis tab, each with its own sub-tab. Market Sentiment indicates how XTB user activity – buys versus sells – signals bullish or bearish trading. For example, in this screenshot, EURUSD is 72.4% bearish, while USDJPY is 75.7% bullish.
Top Movers - Top Movers shows you the biggest percentage gainers and losers for a particular time period (you can adjust the period with the dropdown menu). You can also filter the asset classes for which you want to see movers.
Stocks Screener - Use the Stocks Screener to find stocks that fit your criteria. You can sort and filter by a number of metrics, including country, industry, market cap, P/E ratio, and more. Your results will appear in the box below.
Heatmap - You can see what assets or sectors are hot – or not – with the Heatmap tool. The greener an item is, the bigger its gains; the redder it is, the bigger its losses. Choose the asset class you want to see from the dropdown menu. You can also adjust the time period.
Heatmap – Zoom In - Right-click on an industry or sector to zoom in on it. This will enlarge a single group from the larger heatmap for closer analysis. Zoom back out by right-clicking again.
Knowledge Base - You can find video lessons and tutorials that will stream directly within the platform window from the Knowledge Base tab.
Education & Resources
Learn to Trade – Knowledge Base - Here you can use the Knowledge Base to learn more about your account, the XTB platform, or trading terminology.
Learn to Trade – Overview - Or, if you’re new to FX or CFD trading, XTB has a fairly comprehensive set of learning tools. Through its Trading Academy, XTB provides online instruction for everyone from beginners to expert traders.
Learn to Trade – Trading Academy - At the Trading Academy you’ll find a suite of lessons covering a broad range of topics, segmented by knowledge level from basic to intermediate to advanced. Scroll through the lesson titles and click the Show Lesson button to start learning.
Learn to Trade – Trading Academy – Lesson - Trading lessons aren’t overwhelmingly long, but comprehensive enough to provide a basic understanding of the concept they cover.
Learn to Trade – Webinars - XTB hosts live webinars from time to time to explain some important aspect of trading or its platform.
Portfolio & Account Management
Open Positions - Now we're back to the platform! You’ll see your Open Positions in the box that appears on the bottom of the platform layout, along with the asset’s profit and loss. Click on a position symbol on the left to expand it and see the trades you made to build that position. Right-click on a position line to generate a dropdown menu where you can modify or close positions.
Modify Position - Here you can add stop-loss or take-profit orders to close out an existing position if the asset price moves to a certain level. Just click on the plus-sign (+) icon, which we’ve circled here, to set your parameters and place the order.
Pending Orders - Your open orders that have not been filled yet will appear under the Pending Orders tab. You can modify open orders or click the red X on the far right of a line to cancel the order.
History - Click on the History tab to view your order history of closed positions, along with the profit and loss on them. You can export your history as a downloadable Excel file for your records.
Cash Operations - If you’re looking for your deposits and withdrawals, you’ll find them under the Cash Operations tab. You can also export this information as an Excel file for your records.
Notifications – History - You can find your account notifications, trade confirms, activity log, and alerts by clicking on the bell icon on the top right of the platform. The Notifications box that appears has three tabs, the first of which gives you a history of all of your notifications and alerts.
Notifications – Price Alerts - To be notified when an asset rises or falls above or below a certain price, click on Price Alerts.
Notifications – Settings - Use the Settings tab in the Notifications box to indicate what sorts of items should appear in your notifications feed.
Settings Menu - To reach the Settings menu, click on the icon shaped like a gear on the lower right corner of the platform. You can use it to change your settings and platform preferences.
Settings – Language - XTB serves customers around the world. Here you can choose from more than a dozen languages.
Settings – Sounds - You can turn sounds on or off for various parts of the platform and also set the volume level.
Settings – Hotkeys - Active traders often prefer to use their keyboard to trade rather than click with a mouse. If that’s you, you can map hotkeys from the Settings menu.
Settings – Confirmations - You can also decide whether you want to receive pop-up confirmations for opening, closing, or modifying positions from the Settings menu.
Help - To get help with the platform or your account, click on the question-mark (?) icon on the lower right of the platform to access the Help menu. Then click on the phone icon for customer support phone numbers.
Chat - If you need to get help straight away, open a live chat box from the Help menu, and somebody should be with you promptly.
Contact Us - Or if you need to get in touch with a live person, XTB offers customer support from offices in 12 countries throughout Europe in a variety of languages. The relevant phone numbers and email addresses are available here.