XTB - Regulation & Regulators

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History
In 2002 X-Trade was incorporated as the first leveraged foreign exchange (Forex) brokerage house on the Polish market. The headquarter is located in Warsaw till now.
2004 X-Trade Brokers was setup in order to comply with the new financial market law which came into force in Poland to better regulate the brokerage activity. In the same year X-Trade merged into XTB.
2005 XTB was authorized by KNF (Polish Commission of Financial Supervision) to offer brokerage services on all financial products.
2005 XTB was acclaimed the Best-in-class broker in Eastern Europe byMoney Markets Journal
2007 XTB became a member of the Warsaw Stock Exchange and of the Polish National Clearing House.
2007 XTB opened it’s first foreign branch in Czech Republic. Currently we have branches in 15 EU countries (Poland, Germany, Spain, Portugal, France, Czech Republic, Italy, Romania, Slovakia, Hungary, Netherlands, Austria, Sweden, Belgium, Greece, Bulgaria)
2009 XTB gained the 2nd award as the Best Equity Broker in Poland by Forbes Magazine
2010 XTB awarded as the Best Forex & CFD Broker in Germany by Brokerwahl
2010 another precious award - the Best Forex Broker in Eastern Europe form World Finance


Mission & Vision

XTB mission is to provide our Customers with an effective and convenient environment for trading and investing in OTC derivatives on FOREX, Commodities, Equities and Indices markets as well as provide them the access to customised structured solutions.

Our goal is to provide our customers with a fusion of exceptional technology and service delivered through local offices in local languages to help them succeed, and this has enabled XTB to become the Central European market leader.


Regulation & Regulators

XTB operates under the European Financial Directive MiFid and is licensed and supervised in 16 EU countries by the following regulators.



Germany – BaFin

Spain – CNMV

France - ACM – Banque de France

Poland – KNF

Austria - Finanzmarktaufsicht (FMA)

Belgium - Financial Stability Committee (FSC)

Bulgaria - Financial Supervision Commission

Czech Republic – National Bank of CR

Slovakia – National Bank of SR

Romania – CNVM

Hungary – PSZAF

Italy – CONSOB

Portugal – CMVM

Greece - Capital Market Commission (CMC)

Netherlands - Autoriteit Financiële Markten (AFM)

Sweden - Finansinspektionen (Swedish Financial Supervisory Authori

Why XTB?
Forex, Commodities, Equities, Options, Structured Products – a comprehensive market offer for you
Fully regulated under European Financial Directive MiFid – XTB has authorized branches in 10 EU countries which are also co-supervised by each country's national regulators
No commissions (excluding DMA), spreads from as low as 0 pips, and local service and support – XTB's comprehensive market offer for you. You can also choose between Fix or Floating FX spreads!
Local support in more than 10 European countries and growing – You choose the country right for you.
DMA Equity Trading, Customised Option Structures, Automated Trading – XTB's innovation driven approach to trading
Free Demo accounts with real time market prices – get comfortable and familiar with trading before you invest


You can trade on:
Forex, Commodities, Equities

NYSE Euronex/NASDAQ, Deutsche Borse (Xetra), Bolsa de Madrid, Warsaw Stock Exchange, Prague Stock Exchange (PX), London Stock Exchange (LSE), Euronext Paris, Euronext Lisbon, Borsa Italiana, Budapest Stock Exchange

XTB also gives you the opportunity to trade Vanilla, Digital and Range options on the following markets:
15 currency pairs
7 global equity indicies
GOLD and SILVER
2 base metals (including Copper)
OIL

FOREX, Commodities, Indices
Spreads Fixed Floating
Spreads from 2,0 1,2
Max Leverage 1:100 1:100
Commissions No No
Guaranteed S/L Yes Yes
Mobile trading Yes Yes
Minimum deposit (EUR) 500 500

EQUITIES, DMAs
Commisions from 00.8%
Financing costs from LIBOR + 2.5p.p
Mobile trading Yes
Minimum deposit (EUR) 500

OPTIONS and Structured Products
Options classes Vanilla, Digital, Range
Spreads from 13
Commission No
Self made structures Yes
One click Strategies Yes
Minimum deposit (EUR) 500

Benefits of Standard Accounts
24-hour access to financial markets
no account maintenance charges
dealing size starting at 0.1 Lot (0.05 for Commodities)
modern analytical tools and charts
advanced order types
competitive spreads
fast and reliable quotes
flexibility
access to current macroeconomic data
http://xtb.com/ib_200537

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Europe faces the wall

In previous comments we often underlined that debt markets were far more pessimistic than equities or EURUSD. In turned out that those investors were right. Yesterday a yield on Italian 10Y bonds skyrocketed above 7% after the largest clearing house in Europe raised collateral requirements for positions in those instruments. While that was the trigger there is also a deep underlying fundamental problem.



On Monday we pointed at the fact that Italy might already be in a recession. That fact alone means that the general government deficit in the near to medium term will widen rather than narrow (as assumed by the Italian government). Higher financing cost add to this burden and those two factors combined create an additional deficit even after subtracting promised savings. Italy can hardly save much more in the short term without dragging the economy into a deep deflationary recession. Therefore the only viable choice is to convince the markets with deep (and politically painful) structural reforms… with an external support.

Italy would need at least 650 bln EUR not to tap the markets for the next three years and Europe probably cannot afford that. Therefore other solutions must be considered, including:

1) Aggressive purchases of Italian debt or even direct sponsoring through the ECB

2) IMF sponsored bailout program with IMF obtaining funds from BRICs and perhaps US

In both cases it would take tough economic reforms over sought by the IMF. The trick is that there must me a credible government in Italy to negotiate such solution. The Greek case (there is still no new PM even though one was supposed to be announced on Sunday!) shows that creation of a national unity government might not be straightforward even under dire circumstances. Italy has some comfort with significant bond redemptions in Feb-Apr’12 and some cash cushion. But that might not be a good news for the markets as there might be no rush to take tough decisions.



A reaction on the EURUSD was significant but not excessive. We illustrated a downward potential stemming from both interest rate and credit markets on the charts in previous snapshots and the pair only realized part of it. The move also fits well into technical frames. The pair was in a one-week consolidation which took a form of a flag after significant declines from 1,42 to 1,36 at the beginning of November. A flag is typically a continuation pattern and so it was this time. A minimum range of 1,35 has been already reached and further supports are at 1,3380 and 1,3230. This final level would be more less consistent with what the interest rate picture is telling us atm.

Italy will try to sell 5 bln EUR of 1Y bills today. However, a real test will come with an auction of 5Ys on Monday. Europe ain’t got a lot of time to sort things out.

Przemysław Kwiecień PhD
Chief Economist
X-Trade Brokers Dom Maklerski S.A.
[email protected]



Investment risk warning
X-Trade Brokers Dom Maklerski S.A. does not take responsibility for investment decisions made under the influence of the information published on this website. None of the published information can be treated as a recommendation, disposition, promise, or guarantee that the investor will achieve a profit or will minimize risk using the information published on this website. Transactions including investment instruments, especially derivatives using leverage, are in its nature speculative and can provide both profits and losses that can exceed the initial deposit engaged by the investor.

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