XTB Broker under Polish authorities investigation

Polish authorities (KNF) accuse XTB broker of cheating on clients (between 2 to 6 mln Euro) in the market maker model. KNF accuses XTB of implementing mechanisms against customers to make gaining profits harder for them.

Thank you for sharing. Definitely will follow how this case will unveil.

https://www.pb.pl/prokuratura-przeswietla-xtb-897999

Here's link to this case, just use translator.

It's nothing new that all market maker forex brokers steal clients money, but not all are caught

This thread most likely will have the name of the broker removed very soon .... because money...

they are about 10 years xtb doing this game
they also invented enormous fancy expenses to close equity jobs
they are like avatrade LOL

The Polish regulator Financial Supervision Authority (KNF) fined them with PLN 9.9 million ($2.7 million) for asymmetric price slippage a few days ago.
According to KFN, the broker committed those irregularities in the execution of client orders in a time period stretching from January 2014 to the end of May 2015.

https://www.financemagnates.com/forex/brokers/

my experience with XTB during 2022-2023 :
This broker cheats on you when you deposit money and also when redrawing. That is my opinion. I send money from my account in Belgium to their account in Poland, which is for free within Europe. When they converted my euros to usd they charged me 6% !!! That is crazy. They should only charge the difference between ad and bid price at the FX market price of the moment. What is the point of trying to make some profits if they take away 6% just receiving your money?! Never a bank or broker has done such a thing to me. It is outrageous. Then when I wanted to redraw, they would not send the money back to Belgium to my account (that would be the cheapest solution). They said that because of regulations they had to send it to Colombia where I live. Again althoug they say not to charge anything when the withdraw is big enough, 30 USD dissapeared on the way. They say it has to be an intermediary bank that charged this, because they did send me the complete amount...
The other thing is that almost everything they offer is CFD (even FX pairs if I am not wrong). It is not suitable for long term trading, which is what I do. I had a bitcoin position of 692 usd (without using leverage) for 10 months. When I closed the position the accumulating costs that they charge from one day to another where 183 usd in total!! So in my case this broker is no usefull. I would like other people to know about these things, so they can analyse if XTB is worth to use as a broker.
They do have a very nice trading platform and fast customer service.