The company secures licenses in two new markets, demonstrating a major expansion into Asia and the Middle East.
It plans to launch operations in Indonesia by 2025 while strengthening its presence in the UAE with enhanced services.
XTB Headquarter in Warsaw, Poland
Publicly
listed Polish fintech XTB (WSE: XTB) has received two new
regulatory approvals, in Indonesia and the United Arab Emirates (UAE), expanding
its international presence beyond its European base.
XTB Secures Regulatory
Approvals in Indonesia, UAE
The
company's Indonesian subsidiary, XTB Indonesia Berjangka, obtained a PALN
license from the country's regulatory body, Bappebti. It will enable the firm
to offer stocks and ETF investment services to Indonesian residents. According to
the company's statement in Polish, seen by Finance Magnates, operations
in Indonesia are scheduled to commence in the first half of 2025.
Omar Arnaout, CEO of XTB, Source: LinkedIn
“This
license brings us significantly closer to launching our operations in Indonesia,”
commented Omar Arnaout, CEO of XTB. The official commentary was issued in
Polish and auto-translated to English. “The past months have been intense, as
we undertook extensive organizational, regulatory, and technological work to
prepare for entering this promising market. We estimate that we will be able to
start operations there in the first half of 2025.”
In a
separate development, XTB received a Category 5 license from the UAE Securities
and Commodities Authority (SCA). Since July 2021, XTB has operated under a
license granted by the Dubai Financial Services Authority (DFSA). However, the
newest approval allows the company to establish operations outside Dubai's
special economic zone and expand its service offerings in the region.
XTB
continues to introduce new products in the region. It launched ETF Investment Plans
earlier this year. Financial reports indicate that these efforts are
paying off. The latest data shows the company's Middle East operations recorded a
44.7% increase in operating revenue during
the third quarter of 2024 compared to the same period last year.
Publicly
listed Polish fintech XTB (WSE: XTB) has received two new
regulatory approvals, in Indonesia and the United Arab Emirates (UAE), expanding
its international presence beyond its European base.
XTB Secures Regulatory
Approvals in Indonesia, UAE
The
company's Indonesian subsidiary, XTB Indonesia Berjangka, obtained a PALN
license from the country's regulatory body, Bappebti. It will enable the firm
to offer stocks and ETF investment services to Indonesian residents. According to
the company's statement in Polish, seen by Finance Magnates, operations
in Indonesia are scheduled to commence in the first half of 2025.
Omar Arnaout, CEO of XTB, Source: LinkedIn
“This
license brings us significantly closer to launching our operations in Indonesia,”
commented Omar Arnaout, CEO of XTB. The official commentary was issued in
Polish and auto-translated to English. “The past months have been intense, as
we undertook extensive organizational, regulatory, and technological work to
prepare for entering this promising market. We estimate that we will be able to
start operations there in the first half of 2025.”
In a
separate development, XTB received a Category 5 license from the UAE Securities
and Commodities Authority (SCA). Since July 2021, XTB has operated under a
license granted by the Dubai Financial Services Authority (DFSA). However, the
newest approval allows the company to establish operations outside Dubai's
special economic zone and expand its service offerings in the region.
XTB
continues to introduce new products in the region. It launched ETF Investment Plans
earlier this year. Financial reports indicate that these efforts are
paying off. The latest data shows the company's Middle East operations recorded a
44.7% increase in operating revenue during
the third quarter of 2024 compared to the same period last year.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
73% of Young Investors Say Traditional Wealth Building Is Broken – Here’s How They Trade Instead
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
