Trading cryptocurrencies using CFDs is one of the businesses with the most profit potential, thanks to the financial leverage offered by online brokers. It is worth clarifying that they are high-risk investments, since the more benefit is sought, the risk is proportional. In this post we are going to explore why XTB is a leader for the Hispanic market.
One of the main advantages of XTB is that it has a section dedicated exclusively to the publication of market analysis. Providing news, price tables, an economic calendar and even for novice traders it has its own trading academy, where it provides the rudiments for carrying out operations.
Next I am going to present an interview that we conducted with Lucía Durán from XTB, Head of Client Care & Partner Management. The idea is to clarify all aspects of the broker.
What is the minimum deposit?
It will always depend on the country, but for clients from Spain or Latin America there is no minimum deposit in XTB. The client can contribute what they consider.
By what method can it be deposited?
In Spain you can deposit by bank transfer, credit card and PayPal. In Latin America, given the differences between countries, we have different payment solutions, among which I would highlight local transfer, credit card, Neteller or Skrill.
At the moment you cannot deposit in Bitcoin or any other cryptocurrency.
Is there a minimum to withdraw money?
There is no minimum to withdraw money in XTB but keep in mind that withdrawals of less than € 200 / Spain, 100 USD Latin America, have a commission of € 20 / USD 30. If you withdraw more, there is no commission.
What type of regulation do they have?
We are regulated or authorized in all the countries where we have a presence. In Poland KNF, Spain CNMV, Germany BaFin, England FCA (Financial Conduct Authority), IFSC in Latin America.
Is my money guaranteed with XTB?
The compensation scheme maintained by the Polish National Depository For Securities ensures the payment of the Clients’ funds and the compensation of the value of the lost financial instruments that have accumulated by these Clients, less the amounts owed by the Client for the services received. .
The payment will comprise 100% of the funds covered by the compensation scheme up to a limit of 3,000 euros, and 90% of the rest of the funds, with a maximum limit of 22,000 euros.
Where is your center of operations?
Warsaw, Poland, but all the offices work with total autonomy, in terms of regulation and customer service.
Apart from Bitcoin, what other cryptocurrencies can I invest in?
Bitcoin and Ethereum stand out, but more than 25 can be invested via contracts for difference (CFDs).
Do you have a welcome bonus?
No. In fact, it is a practice not welcomed by regulators and prohibited in most of them.
Bonuses involve hidden leverage added to the client’s account, and we do not consider it a very transparent practice.
Do you offer advice to invest?
XTB is a brokerage and trading technology provider heavily involved with financial education and information. This means that we do not offer money management or advisory services.
We have webinars in which we try to train clients in financial markets but at no time can XTB tell a client what to buy or how much to trade.
Can I open a demo account without making deposits?
Yes, a free demo account can be opened from here to evaluate the platform.