XTB vs Binomo

XTB vs Binomo Comparison Table 2024
XTB	Binomo
Review 4.8	Review 3.4

Founded in 2002 in Poland, XTB now serves more than 935,000 clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 5,600+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring day traders.	Binomo is a beginner-friendly binary options broker that offers trading on forex, stocks and indices via high/low binary options on a simple web-based platform with payouts up to 90% and reliable service. The firm was launched in 2012 and is based offshore.
78% of retail accounts lose money.
Customer Reviews
4.5 Based on 2 XTB customer reviews
Comment by Reviewer
"XTB stands out as a top choice for new day traders with the terrific xStation platform, commission-free pricing, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform. "	"Traders who enjoy straightforward, fast-paced trading on forex and stocks should check out Binomo's short-term binary options. The intuitive platform and joining requirements make the brand particularly attractive for newer traders."
Pros
With over 5,600 instruments across forex, stocks, indices, ETFs, commodities, and cryptocurrencies, including CFDs, share dealing and more recently Investment Plans, XTB caters to both short-term traders and longer-term investors. The xStation platform continues to impress with its user-friendly interface and intuitive features, including customizable news feeds, sentiment heatmaps, and trader calculator, reducing the learning curve for newer traders. With an excellent range of educational materials, including training videos and articles integrated into the platform, XTB supports traders at all levels. XTB has started offering interest on uninvested balances (up to 5% on $30K+) with lower requirements than brokers like eToro (up to 5% on $50K+). Opening an XTB account is a hassle-free, entirely online process that takes just a few minutes, making the entry into day trading smooth for new traders. First-class 24/5 customer support is available, including a friendly live chat with response times of under two minutes during testing. XTB offers fast withdrawals with same-day payments if requested before 1 pm, ensuring day traders have quick access to their funds.	Custom-designed platform that works quickly on mobile devices Demo account available to all with no restrictions Low minimum trade value from $1 Competitive payouts up to 90% Thousands of daily traders Low minimum deposit of $10 Clear tiered account system
Cons
XTB does not offer a raw spread account, which is becoming increasingly common among competitors like Pepperstone, and may disappoint day traders looking for the tightest spreads. The demo account expires after just four weeks, a serious limitation for traders who wish to thoroughly test the xStation platform and practice short-term strategies before committing real funds. XTB discontinued support for MT4, limiting traders to its proprietary platform, xStation, potentially deterring advanced day traders familiar with the MetaTrader suite. Trading fees are competitive with average spreads of around 1 pip on the EUR/USD but still trail the cheapest brokers like IC Markets, plus there's an inactivity fee after 12 months. The research tools at XTB are good but could be great if they went beyond in-house features with access to leading third-party tools such as Autochartist, Trading Central and TipRanks. Not being able to adjust the default leverage level of XTB products is frustrating, as manual adjustment can significantly mitigate trade risk, especially in forex and CFD trading.	Contract expiry times of 1 minute to 1 hour are very short term for many traders Limited extra features with no copy trading Small selection of tradeable instruments Weak regulatory oversight
Awards
Best Forex Broker for Beginners 2022 Best Customer Service 2021 Best Forex Broker for Low Costs 2021 Best Mobile App for Investing 2020 #1 EMEA Bloomberg spot for FX accuracy in Q2 of 2020 and Q3 of 2018 Best Polish Forex Broker 2019 Best Execution Broker 2019
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto, ETFs	Fixed Time Trades
Demo Account
Yes	Yes
Minimum Deposit
$0	$10
Trading Platforms
xStation	Own
Payment Methods
Credit Card Debit Card Maestro Mastercard Neteller PayPal Paysafecard Skrill Visa Wire Transfer	Cashu Credit Card Doku Wallet JCB Card JetonCash Mastercard Perfect Money Skrill
Minimum Trade
0.01 Lots	$1
Regulator
FCA, CySEC, KNF, CNMV, DFSA, FSC
Margin Trading
Yes	No
Margin Rate
4.5%
STP Account
Yes	No
ECN Account
No	No
DMA Account
Yes	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
Yes	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS & Android	iOS and Android
App Review
Year after year XTB’s app stands out for its slick design and uncluttered interface that we love. It’s quick, responsive and packed with useful features, notably integrated sentiment data, market news, economic calendars and education. The user-friendly order panel underneath the trading chart also makes placing trades, including adding take profit and stop loss levels, really straightforward.	The Binomo app distinguishes itself by offering a comprehensive toolkit, including a risk-free demo account and over 30 analytical tools for technical analysis, ensuring newcomers and seasoned traders can confidently navigate the markets. Moreover, its diverse asset offerings across various markets, coupled with the opportunity to leverage CFDs provides a range of opportunties, all while having access to 24/7 support.
Android App Rating
4.1	4.7
iOS App Rating
4.7	4.6
Auto Trading
Open API	BinomoBot tracks 12 moving and 5 technical indicators and can be set up in than 3 minutes.
Copy Trading
No	No
Social Trading
No	No
Trade Signals
Yes	Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
Yes	No
Custodial Account
No	No
Guaranteed Stop Loss
Yes	No
Inactivity Fee
$0	$30
Islamic Account
Yes	No
Account Currencies
USD EUR GBP HUF	USD EUR
Stock Exchanges
Australian Securities Exchange (ASX) Bombay Stock Exchange CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng Hong Kong Stock Exchange IBEX 35 Japan Exchange Group Nasdaq New York Stock Exchange Russell 2000 S&P 500 SIX Swiss Exchange	Dow Jones Nasdaq New York Stock Exchange
Commodities
Aluminium Cocoa Coffee Copper Corn Cotton Gasoline Gold Livestock Natural Gas Nickel Oil Palladium Platinum Precious Metals Silver Soybeans Sugar Wheat Zinc	Gold Oil Silver
CFD Trading
XTB offers a huge selection of more than 2,100 CFDs spanning forex, indices, commodities, stocks, ETFs, and cryptos (location-dependant). Leverage up to 1:30 is available in the EU and UK, while global clients and pro traders can access up to 1:500. XTB stands out for its CFD trading resources and tutorials to assist traders in developing short-term trading strategies.	CFD trading not offered
Leverage
1:30 (EU) 1:500 (Global)
FTSE Spread
1.8
GBPUSD Spread
1.4
Oil Spread
0.03
Stocks Spread
0.2%
Forex Trading
XTB provides access to 70+ currency pairs with low spreads averaging around 1 pip on majors. The xStation platform offers an intuitive environment for forex traders with an excellent charting package encompassing 30+ indicators, plus a range of order types, catering to various strategies and risk management techniques.	Binomo offers a competitive suit of currencies from majors like EUR/USD to exotics like EUR/MXN. But with contracts spanning 1 minute to 1 hour, the broker is best for short-term forex binary options traders.
Forex App
With over 1 million downloads and a rating of 4.5*, XTB deliver a mobile trading platform that users love. Slick and reliable, the app boasts a range of extra features including advanced charts and market sentiment indicators. Download xStation by XTB here.
GBPUSD Spread
1.4	N/A
EURUSD Spread
1.0	N/A
EURGBP Spread
1.4	N/A
Assets
70+	19
Cryptocurrency
XTB offers an excellent selection of cryptos with more than 50 digital currencies. Spreads are tight starting from 0.22% on BTC and leverage reaches 1:5. The xStation platform also provides intra-crypto pairs like ETH/BTC and DSH/BTC. With the capability to trade cryptos 24/7, XTB ensures a secure environment with transparent accounts for cryptocurrency day trading.	Binomo offers 24/7 fixed time trades on a few major cryptos, including Bitcoin. However this is significantly less than alternatives like Focus Option which offers more than 80 digital tokens.
Spread
0.22%	N/A
Coins
ADA BTC BCH DSH EOS ETH IOTA LTC NEO XRP XLM TRX XEM XLM XMR DOGE BNB LINK UNI DOT XTZ	BTC LTC BCH ADA
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No
Binary Options
Binary options trading not offered	Binomo offers binary options trading around the clock, including the weekends. You can speculate on the short-term price movements of popular markets, from stocks to currencies. Payouts are competitive climbing to 90% and contracts start from just 1 minute.
Payout
	90%
Expiry Times
	1 minute - 60 minutes
Ladder Options
No	No
Boundary Options
No	Yes

Review	Review
78% of retail accounts lose money.
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