UAE, Dubai: XTB, a fintech company that provides access to global financial markets through an online investment platform and mobile app, has obtained two new licenses, allowing it to commence operations in Indonesia and strengthen its presence in the Middle East region.

XTB is one of the leading investment applications in Europe. It has ambitious plans for global expansion, targeting the MENA region, Latin America, and Asia. The new licenses in Indonesia and the United Arab Emirates marks a significant step in advancing these international goals.

Strengthening XTB’s presence in the Middle East region

XTB received a Securities and Commodities Authority (SCA) license in the United Arab Emirates. The 5th category license will allow the company to improve cost and operational efficiency, increase the scope of services provided to clients in the region, and increase employment and open a new office outside the special economic zone in Dubai. It is worth emphasizing that the Middle East region is one of the fastest growing in XTB in terms of operating revenues. In the third quarter of 2024 alone, they increased by 44.7% compared to the same period of the previous year.

XTB's entry into Indonesia is getting closer

The company announced its plans to enter the Indonesian market in early 2024. In December, its subsidiary, XTB Indonesia Berjangka, received a PALN license from the local regulator, Bappebti Indonesia. This license will enable Indonesian residents to access investments in shares and ETFs offered by XTB.

This license moves us significantly closer to beginning our operations in Indonesia. We have spent several intensive months completing extensive organizational, regulatory, and technological work to prepare for launching in this promising market. We estimate that we will be able to commence operations there in the first half of 2025, says Omar Arnaout, CEO of XTB.

New products enhance competitive advantage

Obtaining new licenses concludes a highly active year for XTB. Throughout 2024, the fintech company introduced a range of new products, making its investment application one of the most competitive on the market in terms of offering variety and financial market accessibility.

Looking ahead, 2025 is expected to be another intensive year for product development. In the first quarter, a virtual wallet with a multi-currency card will be rolled out to the European markets with more plans to be announced in the first weeks of the new year.

About XTB 

XTB is a global fintech company that provides individual investors instant access to financial markets worldwide through an innovative online investing platform and the XTB mobile app. Founded in Poland in 2004, we currently support over 1.21 million customers globally in achieving their investment ambitions.

At XTB, we are committed to the ongoing development of the online investing platform, which enables our customers to trade 6,300+ instruments, including stocks, ETFs, and CFDs based on currency pairs, commodities, indices, stocks, ETFs, and cryptocurrencies. We continually expand our range of instruments to ensure our offerings appeal to active and passive investors. With the recent launch of Investment Plans, a long-term passive investing product, our clients can now unlock the growing potential of ETFs and diversify their portfolios effectively. In the key markets, we're offering interest rates on uninvested funds enabling investors to put their money to work and benefit even when they aren't actively investing.

Our online platform is a top destination for investing, market analysis, and education. We offer an extensive library of educational materials, videos, webinars, and courses to help our customers become better investors irrespective of their trading experience. Our customer service team provides support in 18 languages and is available 24/5 via email, chat, or phone. 

In over two decades of activity in the financial markets, we have expanded our reach to more than 1.1k employees. XTB is headquartered in Poland and has offices in multiple countries across the globe, including the UK, Germany, Romania, Spain, Czech Republic, Slovakia, Portugal, France, Dubai, and Chile. 

Since 2016, XTB shares have been listed on the Warsaw Stock Exchange. We are regulated by the world’s largest supervisory authorities: the Financial Conduct Authority, the Polish Financial Supervision Authority, the Cyprus Securities & Exchange Commission, the Dubai Financial Services Authority, and the Financial Services Commission.

Visit xtb.com for more information. 

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