XTB plans to launch options trading before 2025 ends, though the timeline depends on getting a nod from Poland's financial regulator.
The publicly listed broker (WSE: XTB) has been working on adding options to its platform for months, and now sees a fourth-quarter debut as achievable. But the company needs clearance from the Komisja Nadzoru Finansowego (KNF), Poland's financial supervisor, before flipping the switch.
"Technology work is happening alongside talks with the regulator. We're in regular contact with KNF and believe launching this service in Q4 2025 is realistic, provided we get the appropriate approval," Filip Kaczmarzyk, XTB board member, told Polish financial daily Parkiet. "We're actually starting closed testing with employees in October, so the product is refined functionally before we get the green light."
Options alongside physical cryptocurrencies are among the new potential products announced by XTB as early as last year.
Platform Unification Across Markets
XTB wants to roll out options the same way it handles other products, adapting to local rules while keeping the technology consistent everywhere. The broker operates across multiple jurisdictions, and a unified tech stack makes life easier for both its development teams and marketing operations.
"We'll work similarly to other products. Each solution will fit the legal framework in a given market. But technologically it'll be one solution, so it looks identical from our clients' perspective everywhere," Kaczmarzyk said. "Unifying solutions certainly helps our Technology and Product Department's work schedule and streamlines all marketing activities, which are also very important to us."
The company hasn't said which markets will get options first, though Poland seems likely given the KNF discussions. In conversations, it may be helpful to note that at the end of August, the company hired former regulator employee Bartosz Osiński, who joined the Management Board.
Buy-Only Strategy at First
XTB plans to start with a stripped-down version. Clients will only be able to buy options, not write them. That approach limits downside risk, especially for retail traders who might be new to derivatives.
"Options are undoubtedly a product for more experienced investors. But recent years showed we can get Poles, and not only them, interested in investing," Kaczmarzyk added. "We also see that as they gain knowledge and experience, investors expect more advanced solutions. So in line with our mission to democratize the investment world, we want to show investors new possibilities our app offers in an accessible way."
The broker expects to expand the offering over time, similar to how it's enhanced other products on its platform, including retirement savings and investing accounts in different parts of Europe. Writing options, which carries unlimited loss potential, will apparently come later.
Growing But Still Small Market
Options trading remains a niche in Europe compared to the U.S., where platforms like Robinhood have turned derivatives into a retail phenomenon. XTB thinks European interest is still building.
"From our perspective, options are a very interesting direction. There aren't many available solutions of this type in the market currently. But individual examples from the American market show this is a direction becoming increasingly popular," Kaczmarzyk said. "We're convinced that peak interest in options in Europe is still ahead."
XTB now has close to 1.7 million clients worldwide. The company recently announced a new marketing push spanning four continents and 13 countries, suggesting it's got capital to spend on customer acquisition .
Whether regulators will move fast enough for a 2025 launch remains unclear. Financial supervisors across Europe have taken a cautious approach to retail derivatives after past scandals involving binary options and aggressive CFD marketing. The KNF will likely scrutinize XTB's risk controls and client protection measures before signing off.
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