Financial Markets Trading with XTB from Benin
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading Forex and CFDs with XTB Online Trading from Benin
YEAR OF ESTABLISHMENT: 2004
LISTED IN THE STOCK EXCHANGE: YES
OFFERS BANKING SERVICES: NO
MINIMUM DEPOSIT: USD/GBP/EUR 250
XTB Online Trading: Online Broker in Forex and CFDs
XTB Online Trading is an Online Forex and CFD Broker with one of the largest penetrations in the market, offering a large number of Forex Currency Pairs and CFDs of international financial instruments. XTB is available for clients residing in Benin. Among their offering, a client is able to invest in stocks, indices, metals and energy.
Trading with XTB is a good alternative to investing at your local Stock Exchange where only locally listed instruments are available. Among XTB's platform offer is MetaTrader 4, one of the most popular trading platforms available in the market.
Founded in Poland in 2004 under the name of X-Traders, the company was the first online broker to offer leveraged instruments in its country. The company is listed on the Warsaw Stock Exchange under the symbol XTB and it has offices in over 10 countries including the UK, Germany, France and Spain.
At the moment, the African continent is one of the fastest growing regions in terms of number of new traders. This is why XTB is focusing their efforts to acquire new clients residing in Benin by offering webinars, live market analysis and daily trading updates among other useful tools.
Is XTB a trustworthy broker?
A way to understand if a Broker is reliable, is through the Public entities that regulate it's operations. If a Broker is regulated by a government entity considered as Top Tier worldwide, this is a good indicator to demonstrate that it is safe to deposit funds and operate with the platform. XTB as a group is also regulated by the world's strictest supervision authorities including the UK's FCA (Financial Conduct Authority), the Polish KNF (Polish Financial Supervision Authority), the Turkish CMB (Capital Markets Board of Turkey) and Spain's CNMV (Comisión Nacional del Mercado de Valores).
Given that XTB is a broker regulated by very strict government entities (by the FCA in particular), we can safely state with certainty that it is indeed a serious firm, given it has to comply with very strict regulations.
Forex Pairs & CFDs offered by XTB
XTB's platform offers the following trading instruments:
Forex: +49 currency pairs including majors, minors y exotics.
Shares: XTB offers CFDs on 1600 Stocks from major Stock Exchanges, among which there are the New York Stock Exchange and Nasdaq, two of the most popular among investors.
Commodities: XTB offers CFDs on several commodities, being Gold and Oil the most popular among traders.
Indices: XTB offers CFDs on over 20 major stock exchanges and business sector's indices.
XTB's Trading Platforms
xStation5 Trading Platform
xStation5 Trading Platform is a trading app developed internally by XTB, designed to allow traders to operate currency pairs and CFDs (more than 3,000 instruments for clients residing in the EU and more than 1,500 for International clients). The platform has a simple interface and it is extremely easy to use. The platform is available to download to the desktop, it has a web based version and also it might be used as an app on the phone.
MT4 is one of the most widely used [and complete] platforms to trade Forex. MT4 connects different Brokers to get the best prices available. MT4 is a downloadable App that is available when operating with XTB.
XTB's Commisions and Spreads
In terms of it's commissions and spread structure, it can be summarized that XTB is a Broker recommended for Forex and CFD traders looking to trade nominal amounts greater than $ 1,000 per trade (that is, the trade including leverage must be for at least that value), because the company charges a commission to trade, implying that a trade must earn at least that commission to be profitable. Having said that, this commission to open a trade is positively balanced by the fact that XTB's spread is very low. Then, in an order of a considerable nominal amount, the cost of the commission on the total transaction value is "diluted".
XTB Online Trading's Forex & CFD Trading Accounts
How can I open a Forex and CFDs account with XTB from Benin?
Opening a Forex and CFD trading account with XTB Online Trading from Benin is a process that is carried out online and takes only a few minutes: The process is simple and requires: (a) a Valid ID and (b) a proof of address (electricity, water bills, etc), which are scanned through the platform. The available depositing and withdrawing methods are:
International Bank Transfer
It is important to emphasize that the Opening of the Demo Account is totally Free, that is, you are allowed to test a Demo account, try out the Trading platform and then decide whether you will deposit funds or not. And remember a very interesting fact: To open an account with Real Money, only USD/EUR/GBP 250 is required.