How do XTB and FxPro stack up against each other?
The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.
At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.
To compare XTB and FxPro, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.
Does XTB or FxPro have a better trust and regulation rating?
Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.
In our comparison, we found that XTB holds three Tier 1 and no Tier 2 licences, and FxPro holds two Tier 1 and one Tier 2 licences.
Is XTB financially regulated?
Yes XTB was founded in 2002 and is regulated by CySEC, FCA, FSC and KNF.
Is FxPro financially regulated?
Yes FxPro was founded in 2006 and is regulated by CySEC, DFSA, FCA, FSCA and SCB.
Based on these findings, XTB earned a higher trust rating than FxPro.
Does XTB or FxPro have lower costs?
Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged.
Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that XTB has overall lower trading costs than FxPro.
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Does XTB or FxPro offer a better choice of trading platforms?
Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms.
In this case, FxPro offers support for cTrader, MT4, MT5 and FxProEdge and XTB offers support for xStation5.
Do the brokers offer copy trading?
Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FxPro and XTB offer copy trading.
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Which broker offers a better choice of trading instruments?
A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that FxPro offers a greater range and depth of instruments to trade than XTB. FxPro offers 70 Forex pairs to trade and XTB offers 57 Forex pairs to trade.
And what about Cryptocurrencies?
In this case, XTB offers 49 cryptocurrencies while FxPro offers 30 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with XTB.
Which broker offers better deposit and withdrawal processes?
Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals.
We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither FxPro nor XTB charges a withdrawal fee. Overall, FxPro has better deposit and withdrawal processes than XTB.
Which broker offers better educational support?
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
XTB has better educational support than FxPro. Both FxPro and XTB offer educational support for more experienced traders.
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Which broker offers better market analysis materials?
To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.
We found that XTB offers better research analysis than FxPro and that both FxPro and XTB offer frequent webinars.
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Our overall Verdict on XTB
A well-regulated broker, XTB will appeal to traders looking for a wide choice of tradable instruments, top-class educational materials, and excellent market analysis. However, traders should note that support is only offered for XTB’s in-house platform, xStation5.
XTB has two accounts with no minimum deposit requirements, but trading costs are slightly higher than most other brokers. XTB offers trading on over 2100 financial assets, a wider range than is typically seen at other brokers, including 57 Forex pairs. Educational support for beginners is excellent, and XTB also publishes frequent market commentary and trading ideas in its Market News section.
One drawback is that XTB no longer supports the MT4 trading platform, so all clients have to use XTB’s in-house platform, xStation 5 - though it has won awards for its functionality, fast execution speeds, and intuitive design.
Our overall Verdict on FxPro
One of the most respected Forex brokers in the industry, FxPro is well-regulated and has a much larger client base than most other brokers, with over 870 000 clients in 173 countries. FxPro offers a no-dealing desk execution model and trading on six asset classes, including Forex, shares, indices, futures, metals, and energies.
FxPro offers eight live accounts, with industry-average trading costs. Spreads start at 1.20 pips (EUR/USD) on its MetaTrader accounts and 0.2 pips on its Raw accounts in exchange for a commission of 7 USD round turn. Additionally, FxPro offers very little in the way of education and market analysis materials, making it a poor choice for beginner traders.
FxPro also offers a number of trading tools, including free access to Trading Central, a number of calculators, and a VPS service at an additional cost, which is in line with what is offered at other brokerages.
Which broker has the highest overall rating?
XTB has an overall rating of 4.49 and FxPro has an overall rating of 4.39. For more detail please read our reviews of
XTB and
FxPro.
