XTB S.A.
XTB S.A. is a Poland-based, publicly listed online brokerage offering access to foreign exchange, CFDs, stocks, ETFs, investment products and related financial services.
Last updated August 26, 2026
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Overview
XTB S.A. is a Warsaw-headquartered financial-services company and online brokerage group. It began in 2002 as Dom Maklerski X-Trade Brokers, founded by Jakub Zabłocki, and initially focused on foreign-exchange and contracts-for-difference trading. After receiving a Polish brokerage licence in 2005, the company expanded beyond Poland, first into the Czech Republic and then into a wider network of European markets. It adopted the XTB Online Trading name in 2009 and developed into one of the largest publicly traded foreign-exchange and CFD brokers associated with Central and Eastern Europe. The company’s core service is a digital trading platform through which retail clients can trade or obtain exposure to multiple financial instruments. Its traditional offering includes spot foreign exchange, CFDs on currencies, indices, commodities, shares and cryptocurrencies, although the precise availability of products depends on local regulation. XTB has progressively broadened its proposition beyond leveraged derivatives. During the 2020s it introduced fractional shares and ETF exposure in additional markets, announced plans involving bonds and retirement products, and added Polish IKE and IKZE retirement-account offerings. It also introduced a mobile wallet and multicurrency card and pursued regulatory permissions for savings, crypto and options products in selected jurisdictions. XTB operates through regulated entities subject to authorities including the Polish Financial Supervision Authority, the United Kingdom Financial Conduct Authority, the Cyprus Securities and Exchange Commission, Spain’s CNMV, the International Financial Services Commission and the Dubai Financial Services Authority. Its international footprint has included offices or operating entities in numerous European countries and activities connected with Latin America, the Middle East and other markets. The group reported more than two million clients by the end of 2025 and maintained offices in 15 countries, according to the supplied reference material. The company has been listed on the Warsaw Stock Exchange since May 2016. Its public-market history has included rapid growth during periods of high market volatility, substantial marketing expenditure and increased retail-investor adoption, as well as regulatory and reputational challenges. In 2018 the Polish regulator fined XTB over its historical use of asymmetric price slippage. French authorities later imposed a penalty over CFD promotion, advertising and compliance failures, while Brazilian authorities issued a stop order in 2023 concerning local solicitation without the required licence. These matters have remained important to the public understanding of XTB’s governance and conduct controls. XTB has built brand awareness through sports and celebrity marketing. Its partnerships and ambassadors have included McLaren Formula One, Mads Mikkelsen, José Mourinho, Joanna Jędrzejczyk, Iker Casillas, Conor McGregor, Zlatan Ibrahimović and Tyson Fury. Later sponsorships covered boxing, economics education, basketball and football. The company’s current strategic direction is therefore a combination of maintaining a large, technology-led retail trading platform and diversifying into broader investment, payments, savings and wealth-building services, subject to the permissions and restrictions of each market.
History
XTB was established in 2002 by Jakub Zabłocki as Dom Maklerski X-Trade Brokers. Zabłocki, an economics graduate and former mBank employee, founded the business with initial capital reported in the supplied reference material as PLN 300,000. The company’s original focus was the emerging retail market for foreign exchange and leveraged derivative products. On 21 November 2005, XTB received a Polish brokerage licence from the Polish Financial Supervision Authority. This enabled it to provide services involving a broad range of financial instruments under Poland’s regulatory framework. In 2007 the company opened its first foreign branch, in the Czech Republic. Further expansion followed into Germany, Spain, Romania, Slovakia, France, Portugal, Italy and Hungary. In 2009 it adopted the XTB Online Trading brand and continued building an international customer and technology base. XTB attracted outside investment in 2010 when Enterprise Investors acquired a minority holding. The company subsequently described itself as one of the leading foreign-exchange and CFD brokers in Central and Eastern Europe. It also began using high-profile sports marketing, including a sponsorship agreement with McLaren’s Formula One team in 2010. The company’s next major structural change was its 2016 Warsaw Stock Exchange listing. The flotation gave XTB a public-market profile and subjected it to the disclosure and governance requirements associated with a listed Polish company. Its expansion and growing retail presence continued, but the period after the listing also brought scrutiny of its historical execution practices. In 2017 press reports concerning a confidential regulatory inspection contributed to a sharp fall in the share price and a temporary suspension of trading. In September 2018 the KNF imposed a PLN 9.9 million fine, finding that XTB had used asymmetric price slippage between 2014 and 2015. XTB disputed the findings and pursued appeals. The penalty was upheld by the Warsaw Provincial Administrative Court in 2019 and by Poland’s Supreme Administrative Court in 2023. Related client complaints and litigation continued to attract attention. The company experienced strong trading activity during the market volatility associated with the beginning of the COVID-19 pandemic. In the first quarter of 2020 it reported record quarterly revenue. XTB continued its international regulatory expansion, including obtaining a Dubai Financial Services Authority licence in 2021. Its product and geographic strategy increasingly moved beyond a narrow focus on forex and CFDs. In 2021 France’s AMF imposed a €300,000 fine relating to the promotion of CFDs to non-professional clients, advertising and compliance failures during the 2013–2020 period. In 2023 Brazil’s CVM issued a stop order concerning the offering and marketing of brokerage services without the required local licence. These events reinforced the importance of local authorisation, risk disclosures, advertising controls and investor-protection procedures in XTB’s international model. From 2023 onward, XTB introduced fractional shares and ETFs in additional countries and reported rapid client growth. In 2024 it announced a strategy to diversify into bonds, retirement products and other investment services. Polish customers gained access to IKE and IKZE products, while the company also launched a multicurrency wallet and card. XTB obtained an ISA-related licence in the United Kingdom and pursued further permissions in the United Arab Emirates, Indonesia and other markets. Marketing remained a central growth tool. The company used ambassadors and partnerships involving international football, combat sports, Formula One, basketball and educational economics competitions. Its ambassador roster included Mads Mikkelsen, José Mourinho, Joanna Jędrzejczyk, Iker Casillas, Conor McGregor, Zlatan Ibrahimović and Tyson Fury. By the end of 2025, the supplied material described XTB as having more than 2.16 million clients, more than 1.19 million active clients, 1,315 employees and offices in 15 countries. The company’s continuing development is centred on scaling its digital brokerage, increasing direct-investment and savings products, and extending regulated services into new jurisdictions.
- 2024
Wallet, card and retirement-product expansion
[1]XTB launched a mobile wallet and multicurrency card and added or announced broader savings and retirement products.
- 2023
Fractional shares and ETFs introduced
[1]The company expanded its investment product range in several European markets.
- 2021
Dubai regulatory expansion
[1]XTB obtained a licence from the Dubai Financial Services Authority.
- 2018
KNF fine
[1]The Polish regulator fined XTB over historical asymmetric price-slippage practices.
- 2016
Warsaw Stock Exchange listing
[1]XTB became publicly traded on the Warsaw Stock Exchange.
- 2010
Enterprise Investors takes minority stake
[1]Enterprise Investors acquired a minority interest in XTB.
- 2009
XTB Online Trading brand introduced
[1]The company adopted the XTB Online Trading name.
- 2007
First foreign branch opened
[1]XTB opened its first foreign branch in the Czech Republic and began broader European expansion.
- 2005
Polish brokerage licence granted
[1]XTB received a brokerage licence from the Polish Financial Supervision Authority.
- 2002
Company founded
[1]Jakub Zabłocki founded Dom Maklerski X-Trade Brokers in Poland.
Products and positioning
A technology-led, internationally expanding retail-investment and trading platform that combines leveraged-trading products with a growing range of direct-investment, savings and payment services.
Trading technology
XTB online trading platform
XTB’s principal digital brokerage environment gives retail customers access to market information, order execution, account management and trading or investment products. It supports the group’s international model and is complemented by mobile applications. Functionality and available instruments vary by country, entity and regulatory regime.
Leveraged trading · 2002
Forex and CFD trading
XTB’s historical core offering consists of foreign-exchange trading and contracts for difference. CFDs provide leveraged exposure to instruments such as currencies, indices, commodities and shares without necessarily involving ownership of the underlying asset. The products carry substantial risk and are subject to local restrictions and disclosures.
Investment products · 2023
Stocks and ETFs
XTB expanded beyond derivatives by offering access to stocks and exchange-traded funds, including fractional exposure in selected markets. These products support longer-term investing and broaden the platform’s appeal beyond active leveraged trading.
Retirement savings · 2024
Retirement accounts
For Polish customers, XTB introduced IKE and IKZE retirement-account options as part of its move toward savings and investment products beyond forex and CFDs.
Payments · 2024
XTB wallet and multicurrency card
The mobile wallet and associated multicurrency card extend XTB’s proposition into payments and foreign-currency management alongside brokerage services.
Digital assets · 2025
Spot cryptocurrency trading
XTB announced plans for spot cryptocurrency trading, with availability dependent on regulatory approval and the relevant local entity.
Controversies
2023
Brazilian unauthorised-solicitation case
Brazil’s CVM issued a stop order alleging that XTB International Limited marketed brokerage services to Brazilian investors without the necessary local authorisation.
2021
French CFD advertising and compliance case
France’s AMF fined XTB €300,000, citing promotion of CFDs to non-professional clients, misleading advertising, insufficient risk warnings and a failure connected with communicating a technical order-execution problem.
2018
KNF enforcement over asymmetric price slippage
Following an examination of activity between 2014 and 2016, the Polish Financial Supervision Authority fined XTB PLN 9.9 million. The regulator concluded that historical execution practices could disadvantage clients by applying losses asymmetrically and delaying certain orders. XTB denied wrongdoing and appealed; Polish courts ultimately upheld the penalty.
Marketing campaigns
- 2026FIBA global partnership
International
XTB became a global partner of FIBA under an agreement covering major women’s and men’s basketball competitions and qualifying rounds through 2027.
Outcome. The agreement positioned XTB alongside a global basketball audience.
- 2026SSC Napoli partnership
Italy · International
XTB became SSC Napoli’s global trading partner for the 2025–26 and 2026–27 seasons.
Outcome. The football partnership expanded XTB’s sports-marketing programme in Italy and internationally.
- 2024Sports and economics partnerships
International · Poland · United Arab Emirates
XTB announced sponsorship of the UAE National Boxing team and support for the Polish young economists’ team participating in an Economics Olympiad in Greece.
Outcome. The activities extended the brand across sport and educational finance-related communities.
- 2010McLaren Formula One sponsorship
International
XTB entered a sponsorship agreement with the McLaren Formula One team, linking the brokerage brand with global motorsport.
Outcome. The partnership supported international brand awareness.
Brand decisions
2025
Plan to introduce spot cryptocurrency tradingProduct launchBackground
Digital assets became part of XTB’s product-diversification agenda.
Action taken
XTB announced plans to offer spot cryptocurrency trading through appropriately regulated entities.
Aftermath
The service remained dependent on jurisdiction-specific regulatory approval and rollout decisions.
2024
Diversification into savings, retirement and payment servicesStrategyBackground
XTB announced a plan to reduce dependence on its traditional FX and CFD proposition and serve longer-term investors.
Action taken
It pursued bonds and retirement products, introduced Polish IKE and IKZE accounts, and launched a multicurrency wallet and card.
Aftermath
The group expanded from a specialist trading broker toward a broader digital investment and financial-services brand.
2023
Launch of fractional shares and ETFsProduct launchBackground
XTB sought to broaden its customer proposition beyond leveraged foreign exchange and CFD trading.
Action taken
The company introduced fractional shares and ETF access in additional European markets, later extending availability to Poland and Spain.
Aftermath
The move supported XTB’s positioning as a broader retail-investment platform.
Recent events
- 2025
XTB announces spot-cryptocurrency plans[1]
Product launch
XTB announced plans to add spot cryptocurrency trading, subject to regulatory approval and local availability.
- 2024
XTB announces broader investment and payment strategy[1]
Product launch
The company announced diversification into bonds, retirement products and other investments, and launched a mobile wallet with a multicurrency card.
- 2023
XTB expands into fractional shares and ETFs[1]
Product launch
The brokerage introduced fractional-share and ETF functionality in additional European markets.
- 2016
XTB lists on the Warsaw Stock Exchange[1]
Other
XTB became a publicly traded company on the Warsaw Stock Exchange.
- 2005
XTB receives Polish brokerage licence[1]
Regulation
The company obtained authorisation from the Polish Financial Supervision Authority to provide brokerage services for financial instruments.
Sources1 sources
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