XTB demo account – How to use it? Trading tutorial

XTB Logo
XTB logo

In the trading world, a beginner trader always enters with high hopes of earning profits. However, earning the profits at the beginning itself depends on several aspects such as the trading platform, method, strategies used, etc. But, in all cases, the first step in commencing the trade is to decide which type of account you want. Brokers worldwide offer various types of accounts with variable features and fees. But, it is commonly observed that a beginner trader often gets confused to decide the right account at first.

Demo accounts are among the best ways for such an individual to get into trading. Most of the trading platforms today offer demo accounts to their users. Before trading with real money, potential investors may practice trading and learn strategies on a demo account to be more comfortable with the whole trading system. 

What is a demo account?

A demo trading account is an account that is funded entirely by virtual money, yet they have all the same features and technical indicators as a real account. Users trade with fake funds, and the demo account replicates the returns of a regular account. For this reason, a demo account is an ideal option for newcomers who would like to learn the basics of investing. 

You may use a demo account as a newbie to try out different strategies without risking any real money. Demo accounts are not just for beginners, but they also allow experienced traders to test what works and what doesn’t in various asset classes. 

XTB is one of the brokers that provides a free demo account. They are also among the world’s leading and most reliable brokers. Due to the supply of virtual money with which to practice trading, a demo account is frequently referred to as a practice account. It allows traders to study the broker’s services without risking losing money.

How to open an XTB demo account?

XTB Rating
4.6/5
Demo Account
Yes
Regulators
FCA, CySEC, IFSC, KNF
Trading Desk
No Trading Desk
Crypto
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Broker Website
https://www.xtb.com/int

Opening an account in XTB is a simple process. It can be done by following the instructions given below – 

  1. The first step of creating a demo account in XTB is to go to their homepage and select the option for a free Demo from the homepage.
  1. After clicking the demo button, you will be redirected to a brief registration form. At that moment, all you need to do is enter a valid email address and mention the country you reside in. 
  1. The final question is to ensure that the broker knows which regulatory agency will safeguard you. For example, when you select ‘United Kingdom,’ you will be sheltered by the Financial Conduct Authority (FCA). Tick the boxes after reading the data privacy policy and the broker’s policy on transmitting commercial information. The regulatory onboarding includes the tick-boxes as well.
  1. Authorized brokers can only provide demo accounts to clients who agree to agreements such as personal data sharing. The XTB, like other regulated brokers, is required to gather specific ‘know your client’ information from all of its clients. It is because the broker can keep track of your activities and show regulators that it is treating its clients fairly. After that, press the ‘Submit’ button to go to the next screen.
  1. After you click the submit button, the platform will direct you to a page where the broker asks for personal information. You need to fill in your first and last name, as well as your phone number. Choose the account type. Finally, set a password for your XTB demo account and click the “Submit” button to complete the process.
  1. Once completed, the demo account interface will load, and voila, your XTB demo account is finally opened. And, now you’ll be able to log on to the trading site, where you’ll find a $100,000 balance waiting for you to try your hand at trading.

Some European clients may use video chat to prove their identification, which is a fantastic tool. If you can’t get the video verification, you must provide a picture or scanned copy of your photo ID, passport, or driving license. Proof of residence is acceptable in the form of utility bills and bank statements.

XTB - how to deposit
XTB – how to deposit

Drawbacks of XBT demo account

  • XTB’s offers base currency selection includes USD, EUR, and GBP. In addition to those common currencies, HUF and PLN accounts are also offered at XTB. Such a selection of base currencies is nothing more than an average range when compared to other competitors.
  • XTB is not designed for beginners. 
  • XTB does not give daily video updates in English, except its weekly webinars (but does so in other languages).
  • Only XTB’s Polish office offers cash equities in the European Union.
  • XTB charges an inactivity fee if the account is found to be non-used for several days.

How to use the demo account?

You may access the demo account via a desktop or mobile app. Each has a pleasing appearance and a natural feel to it. The UI is very intuitive to use. Markets may be dragged and dropped from the Market Watch monitor, and there are multiple charting tools nearby.

One-click trading is the default trading setting. It’s simple to quickly establish a virtual portfolio by testing with a few marketplaces.

With a press of a button, you may expand and reduce whichever monitor you’re using. It is a handy tool allowing you to know the working of the platform better. 

If the amount is beyond a particular level ($50-$200 depending on your country of residency), XTB does not charge any withdrawal fees. The only method to withdraw money is through a bank transfer.

Several training courses are also offered for free. They are available in textual and video formats, and many are geared towards novices. Traders can easily find the tutorials in the Education section.

New traders may utilize demo accounts to acquaint themselves with a live trading environment, where they can hone their trading abilities and create their own trading methods by actively engaging in transactions.

The demo account holders can easily convert their account into a fully functional account by clicking on the button at the bottom of the screen.

At XTB you can trade both from the desktop and from other devices
At XTB you can trade both from the desktop and from other devices

Features of XTB demo account 

The xStation interface is one of the most user-friendly trading platforms available. It has the aesthetic of having been created by traders, for traders. Some of the major features of XTB are mentioned below:

  • Faster execution times – the execution time of XTB is one of the fastest in the industry, allowing the users to carry out orders as soon as possible
  • Dependable trading infrastructure – XTB has experience of over 15 years in the trading field. It is one of the oldest brokers in the trading field.
  • Multilingual customer support
  • Mobile trade alerts
  • Negative balance protection
  • Award-winning – Contains a plethora of features that are beneficial to traders.

XTB offers you an opportunity to track market movements in real-time. You can learn how to set buy and sell orders and adjust your trading tactics accordingly. Traders may track positions and the gains or losses linked using actual prices, just as with a real trading account.

Benefits of XTB demo account

  • Demo accounts are very beneficial when venturing into an uncharted area. Demo accounts are an excellent way to begin trading, whether a specific currency pair or an entire asset class like cryptocurrency.
  • A demo account allows you to understand better how your broker works. There are many choices, and demo accounts are free, so you can quickly switch if it’s not a good match.
  • One of the major advantages of having a demo account is that you may follow the lead of institutional investors and use virtual accounts to test out new methods.
  • Online training resources, which are rather common, can be beneficial. A demo account not only allows you to bypass some of those lectures but also allows you to have a hands-on experience with them, making them more valuable.
  • Even the most experienced traders make ‘fat finger’ mistakes. It’s just that the top players have realized the importance of knowing their systems and double-checking their moves. A demo account will provide you with an idea of accomplishing it and allow you to practice.
  • A fat-finger mistake is a keyboard input mistake or cursor misclick in trading markets like the share market or the forex market whereby an order to buy or sell is put in much greater size than planned, for the improper stock or contract, at the wrong price, or with any multitude of other mistakes.
  • Because XTB only offers a basic account to most of its traders globally, this is the only sort of demo account offered. As a trader, this keeps everything clean and straightforward, which is likely one of the reasons the registration process is so rapid.

Conclusion 

XTB is an outstanding CFD broker. Several financial regulators worldwide regulate it, notably the FCA in the United Kingdom. The Warsaw Stock Exchange is where the firm is listed.

On the other hand, XTB’s currencies CFD prices are low, and several European customers can trade equities and Commodities commission-free subject to a €100,000 monthly trading volume. We really liked how quick and easy the deposit and withdrawal operations are. In comparison to others, the account opening procedure is simple and swift. One of the best things about demo account trading is completely risk-free. However, remember that switching to real money trading might mess with your ‘trading mindset.’

However, there are several disadvantages to using XTB. Although genuine stock and ETF trading is permitted in several European nations, the product choice is primarily confined to CFDs. XTB’s basic statistics only include a few fundamentals, such as P/E. Finally, there is a price for idleness.

XTB is for individuals who prefer forex or CFD trading and want to take advantage of various deposit and withdrawal alternatives as well as a quick account creation process. You are entitled to use a demo account to try it out.

One piece of advice is to begin trading in modest increments when the time arrives. That is undoubtedly doable at XTB due to the lack of a minimum account balance. Even yet, keep in mind that virtual trading is far from real-time trading.

FAQ – The most asked questions about XTB demo account:

How do a demo and a live trading account differ?

A demo account allows you to play with imaginary resources rather than real money. That enables risk-free trading and the examination of the broker’s and trading platform’s offerings. A demo account may be used for a variety of objectives, including trading practice, exploring trading tactics, discovering new systems and deals, and much more.

How valid is the demo account?

Demo accounts can expire, which can happen to a lot of them. The XTB demo account, on the other hand, does not experience this. Yes, the account is open for a 30-day trial period; however, you can extend the trial term as many times as you like. That practically implies that if you do not let the trial time finish, the XTB demo account will never expire. If you do, keep in mind that each user is only allowed one demo account per person.

What types of live trading accounts does XTB provide?

You have only one account type to select from a Standard account by default. You can create a Swap-free/Islamic account if you open an account from outside Europe. This account type follows Islamic laws and does not impose swap fees. There is the option of setting up a corporate account as well.

Is XTB regulated?

XTB is governed by a number of regulatory bodies:
the Financial Conduct Authority (FCA)
the CySEC or the Cyprus Securities and Exchange Commission.
the Polish Financial Supervision Authority (KNF)
the National Securities Market Commission (CNMV) of Spain
the Dubai Financial Services Authority (DFSA)
the International Financial Services Commission of Belize (IFSC)

What are the fee and charges of XTB?

In general, it’s reasonable to state that XTB’s fees are minimal. XTB either doesn’t charge a brokerage fee for services that other brokers charge, or it charges a minimal price for other brokers’ services. That means you may use XTB even if you trade often.

What is the XTB minimum deposit?

XTB does not compel you to deposit a minimum amount. That means it is a trustworthy brokerage that anyone who wants to trade or invest a small amount of capital may use; it is an excellent brokerage to begin with. Moreover, as you gain more expertise, you can increase your funding by adding more money. The brokerage that does not require a minimum deposit does so to persuade people to try their services without making a massive initial deposit.

Does XTB charge a deposit fee? And what are the various methods in which an individual can deposit?

XTB does not charge a deposit fee. This is handy since the broker does not deduct any charges from your payments. As a consequence, you will not be required to calculate the costs levied by the banks or external parties with whom you are transferring funds.
XTB accepts deposits made through Bank Transfer, Credit or Debit Card, and via Electronic Wallets. A minor disadvantage of making deposits with XTB is it is not as consumer-friendly as other firms. The interface might cause slight difficulty in determining where and how to make the transfer.

How is the customer service of XTB?

The phone and live chat help provided by XTB is professional, quick, and available in various languages. On the downside, customer care is only available 24 hours a day, five days a week for European customers. 
Customer assistance is available in various languages, even some minor ones like Hungarian and Romanian. Customers outside of Europe can contact XTB’s customer service team at any time. Customer assistance is only provided 24/5.

Is it possible to trade options at XTB?

No, Options trading is not permitted on XTB. As XTB does not provide options, you may look for another broker.

How to withdraw money from XTB?

Go to the trading site and log in.
Click ‘Deposit and withdraw money in the bottom right corner.
Enter your bank account details and the sum you want to withdraw.
Start the withdrawal process.

Is XTB free?

When buying and selling US equities, XTB is a zero-commission broker. Because you won’t be charged with any minimum costs from the broker, zero commission is especially advantageous if you trade in small volumes, such as buying stocks for less than $500 every deal.
It’s worth noting that some zero-commission brokers employ the payment-for-order-flow approach to generate money (rather than depending on commissions), which might lead to a conflict of interest between you and your broker. That can lead to unpleasant trade implementation (such as directing your trades to specific market participants) in certain market scenarios, especially when utilizing market orders (as compared to limit orders, which tend to become less affected).

How can I open an XTB demo account?

The process to open an XTB demo account is quite simple. First of all, you have to complete a simple online form. Provide all the required details. They will verify all the information, and you will get instant access to the trading platform. In addition, you may be asked to put forward some other documents as well. They can ask for your proof of identity, bank statement, etc.) via your XTB Client Office.

Does the XTB demo account have an expiry date?

No, there is a specific expiry date for your demo accounts. Thus, you can use the XTM demo account indefinitely. It remains active up until you log in every other 10 days. So, make sure to make your account active at least once every ten days. Therefore, connect or reconnect your account to the server every 10 days at least once.

Can a trader withdraw funds from the XTB demo account?

No, the XTB demo account does not allow traders to withdraw funds. It is because the broker offers only virtual currency in the demo account. A trader cannot withdraw these virtual funds as the broker offers them only to allow traders to learn to trade. 



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Last Updated on January 27, 2023 by Arkady Müller