UK-regulated forex broker XTB UK plans to change fixed spreads on Basic trading accounts from 17 September, 2016, the broker said in a notice on Friday. Spreads will be increased across all currency pairs, as well as for commodities, indices, metals, and all other tradable instruments.
To see a list of the old and new spreads that will be into effect as of next month for Basic account holders, please click here.
Meanwhile, commission fees on Pro accounts will be returned to their normal levels from 5 September, 2016. In the beginning of May the broker launched a temporary promotion with lower fees and commission that expires next month. These accounts have regular fixed spreads of GBP 2.5, €3.5, $4.0 or HUF 1,100.
XTB UK offers three types of trading accounts – Basic, Standard, and Pro. Their trading conditions are fairly similar with minimal deposit requirement of £250, €250 or $250, maximum leverage of 200:1, and available trading platform (xStation and MT4). However, the three accounts differ by their market execution model and spread calculation. Basic accounts have fixed spreads, while Standard accounts have floating spreads and Pro account spreads are based on the market prices.
XTB UK is regulated by the UK’s Financial Conduct Authority (FCA) and is part of XTB Group with a Polish-based X-Trade Brokers Dom Maklerski as a holding company. The broker offers trading in more than 50 spot forex pairs, indices, shares, commodities, and exchange traded fund (ETFs).