XTB to Start Forex Trading in South Africa in Second Half of the Year

XTB, a Poland-based online forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs broker, has announced that it will begin its trading activities in South Africa in the second half of the year at the earliest. However, Pawel Szejko, an XTB Board Member for financial affairs, said that the group’s current priority is to develop its presence in Middle Eastern countries. In January 2021, XTB established a subsidiary XTB MENA in the United Arab Emirates, and it began operations at the end of July last year.

The United Arab Emirates has become a regional hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term for XTB through which the broker reaches clients from the entire MENA region (the Middle East and North Africa) with its offer of financial instruments. The company is looking at this region from a long-term perspective, as it is majorly interested in gaining the trust of clients from Arab countries. The region contributed more than PLN 5 million (US$1.2 million) to the group's revenue in the second half of 2021.

In August 2021, the subsidiary XTB Africa (PTY) Limited obtained a license to operate in South Africa.

Szejko stated: "The Middle East is a priority for us at the moment, which means we are directing a lot of effort and resources into developing this market. This means that we have to wait a bit longer for South Africa. We will probably return to the topic of South Africa, but it will not be sooner than in the second half of this year, and maybe even a little later."