X-Trade Brokers (XTB) has closed the news and market analysis section of its Tradebeat.pl portal. The company has now combined the market news and analysis that was available on Tradebeat.pl, with its xtb.com website and its xStation trading platform.
All XTB customers can access research and analysis on its xStation trading platform under the “News” section. This will include coverage of key events, macroeconomics releases, central bank decisions, technical analysis and recommendation from major banks as well as in-depth fundamental analysis from the company analysts and economists.
According to the publicly listed Polish FX and CFDs brokerage, this move is a part of the development and optimization of its services and will allow its customers to find all of its investment data in one place. However, the timing of the change is surprising as brokers are facing numerous restrictions in advertising and content and news portals such as Tradebeat.pl can be major tools for them to onboard new clients.
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Commenting on the shift to Finance Magnates, Przemysław Kwiecień, Chief Economist at XTB, said: “XTB has a long tradition of serving high-quality content to its customers and it’s certainly been a part of the company success. Tradebeat portal was created to address traders’ need of following markets every day with a good understanding of key developments [sic] The company is committed to deliver high-quality content and with constant technological innovation aims at providing the research in the very heart of the market action – and this is the trading platform!”
According to XTB, some of the information that was available free on Tradebeat.pl will remain free-of-charge on its platform.
Kwiecień also added that another reason for directing the news and market analysis content into the trading platform is to make it accessible from mobile devices as well by using the xStation mobile software. “Growing preference for mobile devices at the expense of desktop computers in many aspects of life, including trading, should make this feature attractive to clients,”
Earlier this year, XTB made headlines when it reported strong results for Q1 2018, which showcased record numbers across key components of its business on a year-over-year basis. The results showed the company had a total operating revenue of USD 33.0 million (PLN 113.7 million), up 94 percent year-over-year.