XTB Opens New Dubai Office

Poland-listed retail broker XTB (WSE:XTB) has strengthened its Middle East presence by opening a new office in Dubai. Announced today (Monday), the new office is located in One Central (Offices 5) at the Dubai World Trade Centre.

Strengthening UAE Presence

The opening of the new office came a few months after XTB obtained a licence from the UAE’s Securities and Commodities Authority (SCA). The broker also recently renewed its Dubai Financial Services Authority (DFSA) licence, under which it has operated in the country since July 2021.

“The UAE is a key market for us; this is why securing compliance with both the SCA and DFSA is crucial in allowing us to offer even greater security, transparency, and investment opportunities to our clients,” said Achraf Drid, Managing Director at XTB MENA.

“With our new office in One Central at the Dubai World Trade Centre, we are strategically positioned to enhance our services and support investors in the region like never before.”

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The latest announcement shared with Finance Magnates further highlighted that the SCA licence would enable the broker to strengthen its services for both retail and institutional investors in the region. Meanwhile, under the DFSA licence, it would continue to serve clients within the Dubai International Financial Centre (DIFC).

XTB’s Ongoing Expansion

Apart from the new UAE licence, XTB also obtained an Indonesian licence, followed by a securities agent licence from the financial market regulator in Chile, marking its continued expansion in Latin America.

The global expansion is also helping XTB grow its business aggressively. Finance Magnates recently revealed that the total number of active accounts across the entire CFDs industry has surpassed the 5 million mark. Among all the brokers (excluding the Japanese ones), XTB topped the list with the highest number of active accounts in Q4 2024, peaking at about 555,000.

Meanwhile, the revenue of the Polish broker increased by 15.8% to PLN 1.87 billion in 2024, while net profit climbed 8.6% year-over-year to PLN 859.4 million. Despite rising operational costs, XTB benefited from strong market trends and growing interest in financial instruments.