XTB Secures Authorization to Offer ISAs in the UK

With the intention to enter the UK Individual Savings Accounts (ISAs) market, XTB has officially become a registered manager authorized to offer these tax-exempt retail investment products. This move marks a significant milestone for the company as it enters a market valued at £400 billion.

During the February earnings conference following the 2023 report, XTB CEO Omar Arnaout disclosed the company’s strategic focus on expanding its product range beyond its home market in Poland, where it initially launched offerings for future pensioners. With a keen eye on the UK market, XTB is ready to capitalize on the demand for tax-exempt investment products.

XTB Secures Authorization to Offer ISAs in the UK

The UK ISA market, serving 27 million people, is a substantial segment with £400 billion invested in stocks and shares. British citizens can contribute up to £20,000 annually to their ISAs without incurring tax obligations. Recognizing this opportunity, XTB sought and secured the necessary license to operate within this space. This will extend its product suite beyond its conventional contracts for difference (CFD) offerings.

So, Joshua Raymond, Managing Director at XTB UK, announced in an e-mail statement, “As part of our commitment to broadening our investment and savings product range, I’m happy to say our ISA licensing application has been approved by HMRC.” He further added that UK retail investors could expect the new ISA offerings to be available around the third quarter of this year. “We are aiming to launch our ISA product to UK clients at the start of Autumn,” Raymond said.

XTB’s entry into the ISA market is ready to significantly boost its presence and client base in the UK. In 2023, XTB increased its active client base to 312,000, and in 2024, it reported surpassing one million users.

Company Overview

XTB is a globally famous online brokerage and trading firm. It was established in 2002 and has since emerged as a premier provider of retail Forex and CFD services. Operating across numerous countries, XTB is subject to regulation by esteemed financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Polish Financial Supervision Authority (KNF) in Poland. Renowned for its reliability, XTB offers exceptional customer support, an extensive range of forex and CFD options, and an exemplary trading environment. The company has introduced xStation 5, a sophisticated trading platform equipped with cutting-edge features. Moreover, XTB furnishes comprehensive educational resources and research materials.

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