Table of contents:
- 1 XTB payment methods – the individual XTB deposit and withdrawal methods in the overview
- 1.1 Deposit money with the bank transfer at XTB
- 1.2 Deposit money with credit card, PayPal or Sofortüberweisung at XTB
- 1.3 XTB Deposit Execution – Instructions
- 1.4 The XTB payout in the overview
- 1.5 Security at XTB – deposit protection and regulation
- 1.6 Tradable assets in the XTB offer
- 1.7 The support – this is how the broker’s customer service is set up
- 1.8 Conclusion: The XTB payment methods are classic
XTB payment methods – the individual XTB deposit and withdrawal methods in the overview
In order to monetize your account with Broker XTB, we recommend that you take a look at the various deposit and withdrawal options. XTB relies on a classic selection of options. The XTB deposit can therefore be made with different variants. Traders who place great value on a quick deposit simply resort to the credit card. In addition, the option is also offered to make the deposit with PayPal. This is a rare offer with brokers. By comparing the different methods of deposit and withdrawal, traders can more easily decide which method suits them best.
- No minimum deposit with XTB
- Payments with credit card, bank transfer and PayPal possible
- Fees may be incurred through payment service providers
- Fees for payouts below 200 Euro are incurred
Learn about the XTB deposit options
If traders want to become active in Forex or CFD trading via broker XTB, a deposit is required. This can be done at XTB in various ways. Traders like to be flexible when making a deposit. It is important to use secure payment methods that allow the money to be transferred as quickly as possible. At XTB you can choose from the following options:
- Bank transfer
- Credit card
- Instant bank transfer
With all methods the deposit with Euro is possible. If payment is made with another currency, the broker does not bear any costs related to the conversion. It is also important to know that costs may also be incurred when depositing, which may be called up, for example, by the bank or the issuing office of the credit card. If you want to make sure that you do not have to pay any fees, you should check with the respective service provider beforehand.
NO MINIMUM DEPOSIT NECESSARY
Before deciding on one of the payment methods, it is interesting to know whether an XTB minimum deposit is required. The minimum deposit is called by many brokers. However, XTB waives this. Traders can therefore decide for themselves how much capital they would like to invest with the broker. This offer is often particularly interesting for beginners who are not yet ready to invest higher amounts or who would like to try out with a small amount first.
Deposit money with the bank transfer at XTB
One of the ways to deposit money with XTB is by bank transfer. The bank transfer is often used by traders who do not have a credit card or do not want to use it for payments to a broker. Bank transfer does not incur any fees from the broker. It can be different with the house bank. There are some banks that call for fees for a bank transfer to the broker. Therefore, it is important that the trader informs himself before the transfer whether he has to expect fees.
The deposit via bank transfer is only accepted if the account is authorized in the name of the account holder. This means that if an account is opened in XTB in one name, the account for the bank transfer must also be in that name. If this is not the case, payments will not be accepted. For the trader this can mean a lot of work.
The account details for deposits with the broker are noted on the website. There is a German account with Commerzbank AG. Therefore, there are normally no fees to be expected when transferring funds from a German account.
However, when depositing via bank transfer, it takes a few working days for the money to reach the trading account at the Broker. Two to three days are not uncommon. If you want to start trading directly, it is better to use the other methods of depositing.
Deposit money with credit card, PayPal or Sofortüberweisung at XTB
For the XTB deposit you can use other payment methods. In addition to bank transfer, traders can also deposit money via credit card. Accepted by the broker are deposits via Mastercard, Visa or Maestro. Deposits via other credit card providers are not accepted. The amounts can be transferred in USD or in Euro. If the transfer is made in USD, but the account is held in Euro, conversion fees may apply. In this area too, it is advisable to find out in advance whether fees are to be expected.
One of the biggest advantages of transferring money by credit card is that the money appears on the trading account within a few minutes. This makes it possible to start trading directly.
PAYPAL OR IMMEDIATE BANK TRANSFER AS ALTERNATIVE
XTB PayPal is another offer of the broker. The payment service provider is very popular with traders because of its high security during the transfer. By connecting the PayPal account with a credit card or a bank account, the money is always available at PayPal. This makes a fast transfer possible. Just as with the credit card, the money is in a short time on the trading account. The last option for the XTB deposit is the instant transfer. When you select this method for the deposit, a window opens, through which you can directly access your account. The broker receives a message that the payment has been made and the amount appears on the trading account.
XTB Deposit Execution – Instructions
To make a deposit with the broker, a registration is necessary. After setting up your own trading account, the next steps can be carried out directly online. In “My XTB” the transfer of the credit balance is possible without any problems. The broker shows which funds are still on the trading account. This allows traders to keep an overview.
Important: As it is possible to use several trading accounts with XTB, the respective trading account must be selected separately. Then you can see which deposit methods are available for this account.
The bank transfer is called “Bank Transfer”. When the button is selected, an overview of the account details will appear. With the account data the trader can then order the transfer.
SELECTION OF OTHER DEPOSIT METHODS
If the decision is made to use one of the other payment methods, the broker will guide the trader through the entire deposit process. For the credit card, all relevant data must be entered. It is all the more important to make sure that it is the encrypted website of the broker. The broker does not request the credit card data via e-mail or even by telephone. When depositing via PayPal, the trader is redirected to his PayPal account. He can then order the payment.
Tip: A different payment method can be selected for each deposit. The trader does not commit himself the first time. Thus he remains much more flexible.
The XTB payout in the overview
Profits generated by trading with the broker can be paid out via the internal area. Here too, the trader goes to “My XTB” and can request the payout. A payout is possible at any time and for any amount. For example, if the trader decides to close his account with the broker, he would like to deposit even the smallest amounts into his account. There is therefore no minimum amount for the payout with the broker. However, fees may be incurred if amounts below 200 euros are requested.
THE AMOUNT OF THE FEES FOR THE XTB PAYOUT
If an XTB withdrawal is requested, it is usually free of charge. However, this does not apply if the amount is less than 200 Euros. In this case, fees of 10 Euros will be called and deducted directly from the amount. It is therefore advisable to think about whether a payout is really necessary. If there are less than 10 Euro on the trading account, the trader can contact the support. Here it is possible to ask how to proceed with a payout of the remaining balance. However, the broker will then probably retain this amount.
If you want to withdraw money from XTB, the broker does not indicate how long the withdrawal will take. In principle, however, a duration of several working days is to be expected when transferring the money. Here it also depends on how long the examination of the application takes.
Test XTB with the demo account
Before depositing money into the account with XTB, the trader can also work with a demo account. This is offered free of charge for 30 days by the broker. It is a non-binding offer. There is no need to open a real money account with the broker later. The demo version offers the following advantages:
- Access to over 3,000 CFDs
- Access to over 1,500 shares
- Access to 50 ETFs
- Use of the offered tools
- Access to the mobile version
In addition to this, a personal expert is available to the traders, who offers an analysis of the portfolio. This way, traders can already find out without risk whether the chosen setup is a good decision.
WHY A DEMO ACCOUNT IS AN EFFECTIVE CHOICE
Of course, there is the desire to earn money as quickly as possible with the broker with your own credit balance. However, the risk involved in trading Forex and CFD should not be underestimated. Therefore, it is recommended to get a first overview and a feeling for trading only with a demo version. The first mistakes made while trading will not affect your own credit balance. In addition, traders can take a risk here and do not have to worry about losing large amounts of money.
Security at XTB – deposit protection and regulation
If a trader would like to trade via the broker, a look at security is recommended. XTB is an offer from X-Trade Brokers Dom Maklerski S.A. German Branch. The seat of the broker is in Frankfurt am Main. The regulation is therefore carried out by the Federal Financial Supervisory Authority. In addition to this, KNF is subject to control. The Polish Financial Supervisory Authority examines the Broker at intervals for security and fairness.
THE DEPOSIT GUARANTEE WITH REGARD TO SECURITY
In addition to regulation, deposit insurance also plays an important role for traders. At XTB, the security of client funds is a priority. The broker works exclusively with reputable banking institutions. For this purpose a check is carried out at a potential partner. During the check the creditworthiness of the institutions is checked once a year. With this check, the broker wants to ensure that the existing business relationships can be maintained.
In addition, Broker XTB is a member of the Deposit Protection Fund of the state securities depository KDPW. The Polish fund hedges losses in value that may occur when conducting brokerage transactions with financial instruments, if the broker becomes insolvent. The hedging is carried out up to a legal minimum.
Traders increase security when trading if they attach importance to a secure password and pay attention to risk management when trading themselves.
Tradable assets in the XTB offer
The broker provides over 3,000 global trading instruments. Traders can thus draw on a comprehensive range of underlyings. The selection includes:
- foreign exchange: Around 50 different currency pairs are offered by the broker. In addition to this, the broker provides trading with crypto-currencies. The digital currencies convince with their strong exchange rate changes. The foreign exchange market is very liquid, but also carries a high risk.
- The investment in commodities can also be made with CFDs. At XTB this possibility is made available. The prices are considered very stable, therefore commodities are often used to hedge the risk – especially gold and silver.
- Indices: At XTB there are over 20 indices available for trading. Trading can take place around the clock. In addition, this market is also very liquid and the spreads through the broker are considered to be low.
- ETFs: When trading ETFs, there are various sectors available for trading, which can be used. ETFs are considered a popular alternative to shares and funds.
- Shares: Share trading can also be carried out by XTB with CFDs. With a selection of more than 1,500 shares, every trader will usually find what he is looking for.
The support – this is how the broker’s customer service is set up
If you have any questions about deposits and withdrawals at XTB, the support is the first point of contact. Basically the broker offers a very extensive website, which provides a lot of information. Traders can already inform themselves here. Nevertheless, questions may arise that cannot be answered from the information on the website. The broker therefore provides extensive support. The support is offered in German. Customer service can be provided here through the headquarters in Frankfurt am Main.
THE METHODS FOR CONTACTING THE BROKER
Probably the fastest and most practical way to get in touch with the broker is the live chat. This is simply opened via the website. If an employee is currently available, the chat can be used immediately. But support by mail is also possible. On the website, traders will find a mail address that they can use. However, there are sometimes waiting times of several days until a response is received. Finally, a hotline can also be used. Here the broker divides into telephone numbers for different areas. Among other things there is also a hotline for customer service. If questions arise regarding deposits or withdrawals, the customer service is the first point of contact. This is where help is usually provided quickly.
Conclusion: The XTB payment methods are classic
The payment methods offered by a broker are of interest to traders even before opening an account. This allows traders to decide whether the methods are suitable for them to make a deposit. XTB is very well positioned in this area and focuses on the most popular methods for depositing. The deposit can therefore be made with the broker by bank transfer, but also by credit card. Especially interesting is the aspect that traders can even transfer money with PayPal. This is a rather rare payment method, but one that traders are very happy to use.
All payment methods are classified as secure. However, when transferring money by bank transfer, please note that it can take several days before the funds are received on the trading account. In principle, only as much money should be transferred as the trader is willing to invest. Since there are no minimum deposit amounts on XTB, the trader can decide for himself how much to deposit.
It is important to know that there may be fees for the payouts. Amounts under 200 Euro are subject to fees at the payout. The range of payment methods offered by brokers can be described as very good. Due to the different possibilities the broker addresses a large target group of traders. This also applies to the trading offer. XTB offers more than 3,000 different trading instruments that can be used. Via the demo account, the first steps in trading can also be made without a deposit.