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Crypto Trading XTB Review South Africa 2021

XTB is a frontrunner in the world of online trading. With a strong focus on customer retention and industry-leading trading tools, you’ll have a lightning-fast platform at your disposal. XTB is well-known for crypto trading.

Our latest XTB review will bring your attention to an award-winning mobile trading platform and highlight one of the best characteristics of XTB – low trading costs! Be sure to find out more about XTB crypto trading and what this online broker can offer you. Otherwise, head over to our insightful crypto trading reviews for a general overview.

xtb crypto south africa
Pros & Cons of XTB
  • Highly-adaptable trading platform
  • Low overall trading costs
  • Diverse range of XTB crypto trading options
  • Qualified customer support team on standby
  • Account inactivity fee

Security, Usability, Look & Feel - Our XTB review of user-friendliness

When it comes to site usability, our XTB crypto South Africa review found the site to have a good feel to it. The user-interface is slick and responsive, as you’d expect from an online broker platform. It’s easy to navigate from one page to the next and the actual trading platform boasts a range of innovative tools and trading features.

80/100
Rating
XTB Highlights
  • Reasonable and low trading costs at XTB
  • Great choice of crypto trading options
  • Excellent customer support
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The layout is simple, yet very effective. This extends to the web, desktop, and mobile trading platform. With superior execution speeds and the ability to handle trading in over 4,000 instruments, you’ll find no issues here. The impressive computing powers and dynamic platform will have you setting up and executing trades in no time. The best bit about our XTB crypto review of the platform is that you can access professional analytical trading tools with the touch of a button by using the reliable mobile platform.

How to Trade – A guide to XTB crypto trading

If you want to trade XBT Bitcoin or any of the cryptocurrencies, the following section will outline how to go about it. The following steps outline the quickest way to create an account with XTB:

Step 1 – Visit the official XTB website and click on “CREATE ACCOUNT”.

Step 2 –  Enter your email and country of residence and check the appropriate boxes.

Step 3 – Enter a password and click “Next Step”.

Step 4 – Here, you’ll need to enter all your personal details as well as your financial data.

Step 5 – You will then be able to link a payment option and confirm your account. Be sure to   provide XTB with any necessary documentation in order to verify your identity or payment solution.

Prior to trading, you’ll need to choose the platform you wish to use. Although XBT only has one trading platform, xStation 5, you’ll need to decide on whether you wish to use the desktop version or the xStation 5 mobile trading platform.

Trading in the actual cryptocurrencies will require you to have some knowledge of how CFDs work and how best to leverage your position. The great thing about the XBT platform is that it caters to newcomers as well as experienced traders. We advise you to make use of the educational resources if you do wish to learn more before embarking on online crypto trading.

Company
CompanyXTB Limited
HeadquarterLevel 9, One Canada Square ,Canary Wharf, E14 5AA ,London ,United Kingdom
Year of Founding2002
CEOOmar Arnaout
Web Sitewww.xtb.com
Available LanguagesGerman, French, English, Italian, Spanish, Polish, Portugese, Romanian, Arabic
Customer SupportLive Chat, Phone, Email Support
Email[email protected]
Phone+44 2036953085
Licence
CySEC - Cyprus Securities and Exchange Commission
Verified by-
Payment Methods
PayPal
Credit Card
Bank Transfer
Skrill
Show More

Payments - Our XTB Review 2021

When it comes to payments, you’ll need to fund your account in order to trade crypto on XTB or any other financial instrument. Fortunately, our XTB review has found that there are several payment options available to you.

PayPal
Credit Card
Bank Transfer
Skrill

You’ll be able to make deposits using your bank transfer, bank card (credit or debit), or via Neteller or Skrill. Unfortunately, non UK/EU residents will not be able to use PayPal to fund their XTB account. Bank transfers can take anywhere between 3-5 working days to reach your XTB account. For all other deposit methods, you’ll find that your account will be credited immediately. Our XTB review 2021 is glad to highlight the lack of any additional fees when making deposits via bank transfer or bank card. However, our XTB review has noted you’ll be charged a fee of 2% when depositing via Skrill and 1% if you choose to use Neteller.

With regards to withdrawals, you’ll need to provide your bank details upon initiating a withdrawal request. It’s important to provide XTB with a copy of your bank statement when making your first withdrawal as they’ll need to confirm your account. Withdrawals usually take 1 working day to be processed and there is no additional charge as long as withdrawals exceed $50 (or equivalent in ZAR). You might incur a cost from your bank as an international transfer must be cleared.

Customer Service - What is the XTB customer support like?

One of the hallmarks of a responsive and intuitive online platform is the ability to resolve customer issues and queries. As such, our XTB review South Africa delved into the customer support of XTB. It is with much anticipation that XTB review found that this platform performs exceptionally well in this department, providing customers with sufficient lines of communication and a strong ability to moderate and fix issues that may arise.

First and foremost, it is possible to make use of the live chat function. In our opinion, it’s the most convenient way to communicate and you can expect a response within 5 minutes. IN addition to the live chat function, you can directly search for articles that might shed light on any query or issue you are facing. The FAQ section that we stumbled upon in our XTB review South Africa was comprehensive in scope. Much like what you’ll find in our BDSwiss review.

Alternatively, you can contact XTB by using the international line – +357 257 25356 for account opening or +48 222 739 976 for customer service. Bear in mind that customer support is available 24/7 while the telephone line will be active from 8am – 6pm, 5 days a week. You will need to send an email over weekends and wait for a response first thing Monday morning. Otherwise, hop on the live chat feature – it’s always our first stop!

License & Security - Is XTB secure?

Whether you’re looking to trade XTB Bitcoin, XTB Crypto, or any of the available investment options, you’ll find that this online broker provides a secure and safe platform to do so. Our XTB review South Africa noted that they are authorised and regulated by the UK Financial Conduct Authority. Added to which, our XTB review 2021 is also happy to announce that they are under the supervision of the International Financial Services Commission, the Cyprus Securities and Exchange Commission, and the Polish Financial Supervision Authority. All of which is a clear sign that this online broker adheres to financial regulations and acts in good faith.

CySEC - Cyprus Securities and Exchange Commission
FCA - Financial Conduct Authority
CNMV - Comisión Nacional del Mercado de Valores
IFSC - International Financial Services Commission
KNF - Polish Financial Supervision Authority

When it comes to platform security, our XTB crypto South Africa review identified key security protocols that are in place to ensure safe trading without the risk of third-party intruders. The site is fully encrypted and maintains a constant state of online security monitoring. Thus, you’ll be free to engage in online trading with the knowledge that your funds are secure. This is also true when it comes to our FP Markets review.

Reputation and Customer Feedback – Opinions on XTB

XTB continues to enjoy satisfactory customer feedback. Over the last decade, XTB crypto reviews have been full of praise for this online broker. They provide a highly-functional trading platform that is complete with live market data, a range of useful tools, all the while  exposing traders to a raft of educational resources. The combination of a professional and active platform is balanced by their desire to improve the trading abilities of newcomers.

With this in mind, our XTB crypto review has concluded that this online broker has a solid reputation for a reason. Without the necessary care taken in a variety of key areas, XTB would not be enjoying the success they have today.

XTB Crypto

Cryptocurrencies - Our XTB Crypto Review

When it comes to XTB crypto trading, it is important to take note from the onset that this online broker focuses on cryptocurrency CFDs. Traders will have the option of speculating on the price movement of a host of different cryptocurrencies. If you are relatively new to online trading, trading in CFDs means you do not actually own the primary asset that you are trading in.

80/100
Rating
XTB Highlights
  • Reasonable and low trading costs at XTB
  • Great choice of crypto trading options
  • Excellent customer support
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With special reference to XTB crypto trading, you’ll have the option of trading in a wide variety of different cryptocurrencies. The available instruments include XTB Bitcoin, Ripple, Ethereum, Dash, Stellar, Litecoin, XMRBTC, EOS, and IOTABTC. There are many more as you’ll come to realise if you sign up with XTB. You’ll have direct access to these markets via the XTB mobile app and will have access throughout the week and weekend. The spreads for cryptocurrency markets is notably competitive. Plus, there’s 365 day contract expiry and high liquidity. Our XTB crypto review has found that this online broker serves the growing interest in crypto trading by way of a sweeping and all-inclusive cryptocurrency trading section.

Fees on XTB Crypto South Africa Platform

You’ll find that the overall fees in our XTB review 2021 is competitive and relatively low across the board. Fees do depend on the type of account you use and the trades you wish to make. For a standard account, you will not be charged a fee during registration, nor will XTB charge you an account management fee. No commission is charged when trading in Forex, Commodities, or Indices, or when trading XTB cryptocurrency. You will be charged a commission fee of 0.08% per lot for Stock CFDs and ETF CFDs.

You have the option of setting up an Islamic XTB account. Fees will increase for trades in Forex, Commodities, and Indices ($10 or equivalent in ZAR per lot) while the same fee is levied on trades in Stock CFDs and ETF CFDs.

There is an inactivity fee which kicks in 12 months after your account has last been used. This fee applies to supplying you with real-time market data and stats. The inactivity fee equates to €10 or equivalent in ZAR ( charged on a monthly basis).

Jurisdictions and Limits - Trade Crypto on XTB

Whether you’re looking into XTB crypto trading or hoping to access a number of alternative markets, there’s something for every type of trader. As we’re primarily concerned with XTB crypto South Africa trading, we’ll focus on this. However, it’s good to know that XTB is under the supervision of a number of different authorities across the globe. This allows the online broker to access different markets while still operating within the confines of online trading rules and regulations.

80/100
Rating
XTB Highlights
  • Reasonable and low trading costs at XTB
  • Great choice of crypto trading options
  • Excellent customer support
-

As a crypto South Africa trader (extends to all markets), you’ll have access to various exchanges across the globe. XTB International is regulated by the IFSC and this enables the platform to shrug off certain limitations and provide unfettered trading entrance to customers.

Other Trading - Is there more than XTB crypto trading?

Top online brokers will provide traders with access to a number of different markets. As such, it is usually possible to trade in all types of assets and instruments. This allows traders with diverse interests to trade in a number of different markets.

In addition to cryptocurrencies, it is possible to trade in a number of alternate types of trading markets. Our XTB review has noted that there are 3 distinct sections on the XTB platform. One of which is the XTB cryptocurrency section. The second section groups CFDs together (stocks and ETFs). The third section includes Forex, Indices, and Commodities.

When it comes to Forex trading, you’ll find that there are 48 different currency pairs with extremely low spreads. It is possible to engage in microlot trading and XTB does not implement a minimum deposit limit. Trading in Forex can be done 24/5. If you are keen to trade in Forex, take a look at our FOREX.com review.

It’s possible to take advantage of a wide selection of commodity trading options from gold to oil, to corn and natural gas. You’ll certainly have you hands full when it comes to commodity trading on XTB. More good news is that they do not charge you when you hold an open position overnight. You can also trade in 20 different global Indices with the ability to go short or long and leverage up to 500:1. Lastly, XTB also offers CFD trading in stocks and ETFs. You’ll have access to more than 1,500 equities and 60 different ETF CFDs.

80/100
Rating
XTB Highlights
  • Reasonable and low trading costs at XTB
  • Great choice of crypto trading options
  • Excellent customer support
-

Overall Conclusion - One of the top brokerages in South Africa

XTB is a strong contender for the top online broker in South Africa. They have managed to create a diversified platform that feels personalised and is highly-interactive. With quick response times and great execution, you’ll have access to a wide number of trading options. It’s especially good for crypto trading. Keep in mind that CFD trading is complex and has the ability to expose you financially with minimum ease.

We suggest you use the in-depth educational tools and resources on the XTB site if you are a newcomer to online trading. Take a look at our latest eToro review and Plus500 review for more impressive online trading platforms.

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