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      XTB Secures Regulatory Approvals in Indonesia and UAE as Global Push Continues

      Published: just now

      xtb broker logo

      Warsaw Stock Exchange listed online broker  XTB has obtained regulatory licences in Indonesia and the United Arab Emirates, marking a significant expansion of its geographical footprint beyond its European core market.

       

      The Poland-based fintech received a category 5 licence from the UAE's Securities and Commodities Authority (SCA), enabling it to enhance its operational presence in Dubai beyond the special economic zone. The Middle East region has proved particularly lucrative for XTB, with operating revenues rising 44.7% year-on-year in the third quarter of 2024.

       

      In Indonesia, the company's local subsidiary, XTB Indonesia Berjangka, secured a PALN licence from Bappebti Indonesia in December 2024. This approval will allow Indonesian residents to access XTB's share and ETF investment products.

       

      "This licence moves us significantly closer to beginning our operations in Indonesia. We have spent several intensive months completing extensive organisational, regulatory, and technological work to prepare for launching in this promising market. We estimate that we will be able to commence operations there in the first half of 2025," said Omar Arnaout, CEO of XTB.

       

      The dual licence approvals come as XTB pursues expansion across the MENA region, Latin America, and Asia. The company, which was founded in Poland in 2004 and listed on the Warsaw Stock Exchange in 2016, currently serves more than 1.21 million customers globally through its online investment platform and mobile app.

       

      XTB's platform offers access to over 6,300 financial instruments, including stocks, ETFs, and CFDs based on currency pairs, commodities, indices, and cryptocurrencies. The company has also recently launched Investment Plans, targeting passive investors seeking exposure to ETF products.

       

      The fintech firm plans to roll out a virtual wallet with a multi-currency card across European markets in the first quarter of 2025, with further product announcements expected in the coming weeks.

       

      XTB operates under the oversight of several regulatory bodies, including the Financial Conduct Authority, the Polish Financial Supervision Authority, the Cyprus Securities & Exchange Commission, the Dubai Financial Services Authority, and the Financial Services Commission.

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