1. Regulation and Licensing
Look for a broker that is FCA-regulated (Financial Conduct Authority) this ensures the broker operates legally and meets strict financial standards.
- FCA Reg Number should be visible on the broker's website.
- Use the FCA register to verify the license.
At XTB, we are proud to be regulated by the FCA - you can conveniently find our FCA number on the footer of our homepage for full transparency.
Why it matters:
- Protection against fraud
- Segregated client funds - At XTB your deposits are kept in a separate bank account and cannot be used for activities related to the company’s operations.
- Compensation of up to £85,000 under FSCS (Financial Services Compensation Scheme)
2. Trading Costs: Spreads, Commissions, and Fees
Compare brokers based on how much they charge:
- Spreads: The difference between buy and sell prices. Look for tight (low) spreads.
- Commissions: Some brokers charge per trade; others build fees into the spread.
- Swap/rollover fees: Charged for holding positions overnight.
- Inactivity fees or withdrawal fees
At XTB, we take pride in our full transparency. You can see all of our spreads, commissions and fees here.
Most brokers offer platforms like:
- MetaTrader 4 (MT4) or MetaTrader 5 (MT5)
- cTrader or a custom web platform
Check:
- Ease of use
- Charting tools
- Automated trading (Expert Advisors)
- Mobile compatibility
At XTB, we provide access to our proprietary trading platform, xStation, a powerful and intuitive app designed for all types of traders. xStation offers a wide range of features, including daily market news, advanced charting tools, sentiment indicators, and risk management tools like stop loss and take profit all in one seamless experience.
4. Range of Instruments
Ensure the broker offers a wide range of assets:
- Major, minor & exotic currency pairs
- CFDs on indices, commodities, shares,etc.
If you want to diversify, more instruments = more opportunity.
XTB offers access to over 10,000 instruments, giving you the opportunity to trade a wide range of global markets and currency pairs from around the world.
5. Leverage Options
The FCA limits retail leverage to:
- 30:1 for major currency pairs
- 20:1 for minors and gold
Pro traders may request higher leverage but will lose retail protections. At XTB the maximum leverage is 30:1. All other fees can be seen under account and fees on our website.
6. Account Types and Minimum Deposit
- Does the broker offer demo accounts?
- Are there different account types (Standard, ECN, Pro)?
- What’s the minimum deposit?
Choose based on your capital and trading style. At XTB, we offer a demo account that allows traders to learn, practice, and explore the markets using virtual funds all without any risk. For experienced traders, there's also the option to open a professional account, provided you meet the eligibility criteria.There is also no minimum deposit.
7. Deposit & Withdrawal Methods
- Support for local bank transfers, debit/credit cards,.
- Fast processing times
- Low or no withdrawal fees
At XTB, withdrawal requests submitted before 1 PM are processed on the same business day. Requests made after 2 PM will be handled the following business day. Best of all, we don’t charge any withdrawal fees.
8. Customer Support
Test their support via live chat, email, or phone. Top brokers offer 24/5 or even 24/7 multilingual support.
At XTB we are here to help our clients become better investors. That's why our experienced multilingual customer service team works 24 hours a day for a good 5 days a week.
9. Educational Resources & Analysis
Good brokers offer:
- Webinars
- Market news & insights
- Trading courses
- Economic calendars
This is especially helpful for beginners. At XTB, we believe that confidence comes from knowledge and informed decisions lead to better financial outcomes. That’s why we offer over 70 hours of educational content, including in-depth articles, YouTube videos, eBooks, and expert market analysis. Whether you're a beginner or a seasoned investor looking to sharpen your strategy, our resources are designed to help you build a strong foundation and make smarter choices. With the right tools and insights, you can make your money work harder for you.
10. Reputation and Reviews
Check:
- Trustpilot, Forex forums
- Awards from industry sites (e.g., ForexBrokers.com)
- Any history of scams or regulatory issues
At XTB, we're proud to hold a 4-star rating on Trustpilot, backed by over 1,900 reviews. We value every piece of feedback, using it as a key driver to continually enhance our services. Our commitment to excellence has also been recognised with numerous industry awards, highlighting our dedication to providing a top-tier trading experience.
Finding the best Forex broker doesn’t have to be complicated but it does require careful consideration of key factors like regulation, costs, platforms, and customer support. By following the steps in this guide, you’ll be better equipped to make an informed choice that aligns with your trading needs and goals. At XTB, we combine regulatory security, advanced technology, transparent pricing, and world-class support to deliver a trading environment built for success. Whether you're just beginning your trading journey or looking to switch to a more powerful platform, we’re here to support you every step of the way.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
