Poland-listed retail broker XTB (WSE: XTB) has expanded its presence in the Middle East by opening a new office at One Central (Offices 5) in the Dubai World Trade Centre, the company announced on Monday.
Strengthening UAE Presence
The launch comes shortly after XTB obtained a license from the UAE’s Securities and Commodities Authority (SCA) and renewed its existing Dubai Financial Services Authority (DFSA) license, which it has held since July 2021.
Achraf Drid, Managing Director at XTB MENA, emphasized the importance of the UAE market in the company’s global strategy:
“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,” Drid said.
He added that the new office will allow XTB to enhance its services and provide improved support to investors across the region.
The SCA license enables XTB to expand services for retail and institutional investors across the UAE, while the DFSA license allows it to continue operating within the Dubai International Financial Centre (DIFC).
Global Expansion Strategy
XTB’s Middle East move is part of a broader global expansion effort. The broker recently obtained an Indonesian license and a securities agent license in Chile, reinforcing its position in Latin America.
The expansion strategy is contributing to significant business growth. According to Finance Magnates, XTB led the global CFD industry (excluding Japan) in active accounts, reaching approximately 555,000 in Q4 2024.
In 2024, XTB’s revenue increased by 15.8% to PLN 1.87 billion, while net profit grew by 8.6% year-over-year to PLN 859.4 million, despite rising operational costs. This growth was fueled by strong market trends and increasing interest in financial instruments.
With the new Dubai office, XTB is poised to strengthen its foothold in the Middle East and offer enhanced services to a growing regional client base.
