AuthorBy Björn Michels
Updated: August 5, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At TradeForexSA, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.29/ 5 USD 100FCA Regulated BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthoritySecurities Commission of the BahamasMarket Maker NDDCryptocurrencies, Energies, Stock CFDs, Forex, Futures, Indices, Metals7030
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
Read Review 111104/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 1110.503.5/ 5 1110.503.5/ 5 11110.54.5/ 5 71.58%200:10.40 pips FxPro cTrader, FxPro MT4, FxPro MT5, Islamic, ProEdge MT4, MT5, cTrader, FxProEdgeBank Transfer, Mastercard, Visa, Unionpay, Paypal, Neteller, Skrill9 USD / lot
11110.54.14/ 5 USD 5CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityInternational Financial Services CommissionMarket Maker NDDCommodities, Cryptocurrencies, Stock CFDs, ETFs, Forex, Indices4814
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
  • Limited platform choice
Read Review 111104/ 5 11110.54.5/ 5 111104/ 5 111003/ 5 111115/ 5 11110.54.5/ 5 111104/ 5 82%500:10.80 pips Islamic, Standard xStation5Bank Transfer, Visa, Mastercard, Skrill, SafetyPay, NetellerFees Included in Spread

At TradeForexSA, 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 FxPro and XTB, 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 FxPro or XTB 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 FxPro holds one Tier 1 and two Tier 2 licences, and XTB holds one Tier 1 and two Tier 2 licences.

 

Can I trust FxPro?

Yes as FxPro was founded in 2006 and is regulated by CySEC, DFSA, FCA, FSCA and SCB.

 

Can I trust XTB?

Yes as XTB was founded in 2002 and is regulated by CySEC, DFSA, FCA and IFSC.

 

Based on these findings, FxPro earned a higher trust rating than XTB.

Does FxPro or XTB 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 FxPro and XTB have the same trading costs. 

Scroll for more detailsPreviousNext
Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
FxPro
11110.54.5/ 5
ZAR, USD, GBP, CHF, EUR, PLN, AUD, JPY
1.40 pips
USD 14
0.40 pips
1.00 pips
0.60 pips
USD 0
XTB
11110.54.5/ 5
USD
1.40 pips
USD 14
0.80 pips
2.20 pips
1.40 pips
USD 0

 

Does FxPro or XTB 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 FxPro offer copy trading and XTB does not.

Scroll for more detailsPreviousNext
Broker
Platform Choice
Copy Trading
Platforms
FxPro
111115/ 5
FxProEdge
XTB
111104/ 5
xStation5

 

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 48 Forex pairs to trade.

And what about Cryptocurrencies?

In this case, FxPro offers 30 cryptocurrencies while XTB offers 14 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FxPro.

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. XTB offer educational support for more experienced traders and FxPro does not.

Scroll for more detailsPreviousNext
Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
FxPro
Medium
XTB
High

 

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.

Scroll for more detailsPreviousNext
Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
FxPro
XTB

 

Our overall Verdict on FxPro

FxPro is a well-regulated broker with a wide range of accounts, reasonable minimum deposits, and an excellent selection of trading platforms. South African traders should be aware that even though FxPro is regulated by the South African FSCA, they will be onboarded through FxPro’s Bahamas-based entity. This means that South African traders have few legal rights in the event of a dispute with the company. 

Other issues we found with FxPro are that its trading costs are generally much higher than other brokers and its education and market analysis are limited. But we were impressed with how easy-to-use FxPro’s mobile trading app was and the quality of customer support we received. Support is available in a range of languages, 24 hours a day, seven days a week.  

Our overall Verdict on XTB

A well-regulated broker, XTB appeals 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 proprietary platform, xStation5.

XTB offers trading on over 2100 financial assets, a wider range than is typically seen at other brokers.  Tradable assets include Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies.  XTB’s focus is to provide excellent support for traders, with comprehensive educational materials that cater to both beginners and more experienced traders alike through its Trading Academy and one-to-one mentorship programme.  XTB also provides frequent market commentary and trading ideas in its Market News section, and its responsive customer service is available to help traders with technical or account-related queries.  

The account choice at XTB is limited, with only two live accounts that both have higher than average trading costs, but no minimum deposit requirements.  Spreads average at 1.0 pips (EUR/USD) on both accounts, and Islamic traders are charged an additional 10 USD (round turn) commission on the Swap-Free Account.

One drawback is that XTB no longer supports the MT4 trading platform so all clients have to use XTB’s proprietary platform, xStation 5 - though it has won awards for its functionality, fast execution speeds, and intuitive design.

Which broker has the highest overall rating?

FxPro has an overall rating of 4.29 and XTB has an overall rating of 4.14. For more detail please read our reviews of FxPro and XTB.

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Close
>