Xtb

What Xtb does

XTB S.A. is a Warsaw-headquartered, Warsaw-Stock-Exchange-listed online broker founded in 2004 that operates a multi-asset retail investment platform across 15+ markets in Europe and MENA, regulated by KNF, FCA, CySEC, DFSA, FSC Belize, and Bappebti. The company serves more than 2.5 million clients globally through its proprietary xStation web and mobile platform (5M+ app downloads), offering commission-free stock and ETF trading up to €100k monthly turnover, leveraged CFDs on forex, commodities, indices, and cryptocurrencies (2,500+ instruments), American-style options on 110 U.S.-listed stocks and ETFs, UK ISA and Cash ISA wrappers, Investment Plans, and a multi-currency Mastercard debit card issued via DiPocket UAB.

Revenue is generated primarily through transaction-based fees—CFD spreads and overnight financing charges (where 72-76% of retail accounts lose money), stock/ETF commissions above the €100k threshold, and currency conversion fees of 0.5%—supplemented by interest earned on uninvested client funds (4.00% GBP, 3.45% USD, 2.30% EUR) and subscription-style custody fees above €250k. Distribution is product-led and self-serve via xStation, supplemented by an influencer/affiliate partnership program, regional football sponsorships (Paris La Défense Arena, Globe Soccer Awards), and a Zlatan Ibrahimović brand ambassadorship. A separate B2B liquidity and execution division, XTB Institutional (formerly X Open Hub), serves brokers and institutional counterparties.

XTB reported full-year 2025 revenue of PLN 2.15 billion and a record Q1 2026 with operating income of PLN 1,094M and net profit of PLN 535M (+176% YoY). Headcount stood at 1,315 as of 31.12.2025, with 90% on permanent contracts. The group has 13 entities and 7 foreign branches, a Warsaw Stock Exchange valuation of approximately $3 billion, and a multi-jurisdictional footprint demonstrated to be resilient during a 72-hour UAE market disruption in early 2026.

Name

Xtb

Legal name

XTB S.A.

Website

https://xtb.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

XTB is a Warsaw-listed online broker serving 2.5M+ retail investors across 15+ European and MENA markets with a multi-asset platform offering commission-free stocks/ETFs, CFDs, options, ISA wrappers, and a multi-currency Mastercard debit card via its proprietary xStation technology.

Ownership category

akta.pro rank

Product category

Retail Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Online brokerage services
• Stock and ETF trading
• CFD trading platform
• Retail investment platform
• Multi-asset trading

Headquarters

HQ city

Palo Alto

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. CFD Trading (Forex, Commodities, Indices, Cryptocurrencies): Contract for Difference trading generates revenue through spreads and overnight financing charges. 72-76% of retail investor accounts lose money indicating high-risk leveraged products. Gold CFD trading drove record Q4 2025 revenues of $173 million.
2. Stock and ETF Trading: Commission-free stock and ETF trading up to EUR 100k monthly turnover. Above threshold, 0.2% commission applies (minimum GBP 10). Revenue also generated through 0.5% currency conversion fees.
3. Interest on Uninvested Funds: XTB pays interest on uninvested cash balances. UK investors receive 4.25% p.a. on uninvested GBP. Interest calculated daily and paid monthly.
4. Multi-Currency Card Services: Virtual debit card issued under Mastercard license by DiPocket UAB. Supports seven currencies (EUR, USD, GBP, PLN, RON, CZK, HUF). Card can be added to Apple Pay and Google Pay wallets.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

XTB is a publicly listed online broker that provides retail investors with access to global financial markets through its proprietary xStation web and mobile platform. Core offerings include commission-free stock and ETF trading (up to EUR 100k monthly turnover), leveraged CFD trading across forex, commodities, indices, and cryptocurrencies, American-style options on US-listed securities, and supplementary savings products such as UK ISAs, interest on uninvested cash, and a multi-currency Mastercard debit card.

Product overview

XTB is a unified investment platform offering multiple product lines through its xStation mobile app and web platform. The core offering includes Stocks & ETFs trading (commission-free up to €100k/month), CFD trading (Forex, Commodities, Indices, Cryptocurrencies with 2,500+ instruments), and American-style Options trading (110 U.S.-listed stocks and ETFs). Supplementary products include Investment Plans for automated investing, ISA and Cash ISA for tax-efficient UK savings, Interest on uninvested funds, and a Multi-Currency Debit Card. The platform is complemented by market research, educational content, and cybersecurity tools including an Emergency Lock feature. The B2B division operates under the XTB Institutional brand (formerly X Open Hub).

Differentiator

Problem solved

Functional benefit

Brands

• XTB Institutional: B2B liquidity and execution division providing services to brokers and institutional counterparties, formerly known as X Open Hub.

Products and services

• xStation Trading Platform Award-winning proprietary web and mobile trading platform providing access to global financial markets; enables users to trade stocks, ETFs, CFDs, options, and view market research, with integrated multi-currency wallet and security features.
• Stocks & ETFs Trading Commission-free stock and ETF trading service with access to 8,900+ EU and US securities; 0% commission up to EUR 100k monthly turnover, 0.2% commission (min GBP 10) above threshold, plus 0.5% currency conversion fee.
• CFD Trading Leveraged Contract for Difference trading covering 2,500+ instruments across Forex, Commodities, Indices, and Cryptocurrencies; revenue generated through spreads and overnight financing charges.
• Options Trading American-style options trading on 110 U.S.-listed stocks and ETFs, including zero-days-to-expiration contracts and fractional options; available to retail clients across seven European markets.
• Investment Plans Automated investment service that allows users to invest savings in a systematic, managed way for passive investing.
• ISA (Individual Savings Account) Tax-efficient UK Individual Savings Account enabling tax-free investing within annual contribution limits; distributed via FCA-regulated XTB Limited with FSCS protection up to GBP 85,000.
• Cash ISA Tax-free UK Cash ISA savings account with flexible access, offered separately from the investment ISA.
• Interest on Uninvested Funds Interest paid on client cash balances held in trading accounts while awaiting investment; rates of 4.00% GBP, 3.45% USD, and 2.30% EUR p.a. (UK up to 4.25% p.a.), calculated daily and paid monthly.
• Multi-Currency Debit Card Virtual debit card and mobile wallet supporting seven currencies (EUR, USD, GBP, PLN, RON, CZK, HUF), issued under Mastercard license by DiPocket UAB; supports Apple Pay and Google Pay wallets with 2FA, instant card limits, and real-time notifications.
• XTB Institutional B2B liquidity and execution services for brokers and institutional counterparties; provides multi-asset liquidity, execution, and integration solutions under the rebranded XTB Institutional name (formerly X Open Hub).

Quantifiable outcome

• 74% client growth year-over-year (as of 31.12.2025)
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, major and strategic.

• iFX EXPO International 2026coreGTM or Marketing Partner · 18 June 2026XTB will present updated brand identity for XTB Institutional (formerly X Open Hub) at iFX EXPO International 2026 in Limassol, Cyprus - premier B2B financial expo for institutional partnerships.
• Paris La Défense ArenamajorGTM or Marketing Partner · 26 May 2026XTB sponsorship of Paris La Défense Arena in France since April 2025, targeting over 7 million French long-term investment accounts. Strategic marketing investment to build brand presence in France ahead of options trading launch.
• CoinbasestrategicTechnology or Integration · 25 February 2026Coinbase appointed as cold storage custodian for Poland's first spot crypto ETPs listed on Warsaw Stock Exchange. Enables XTB clients to access regulated crypto exposure through established brokerage platform.
• Raiffeisen Bank InternationalstrategicTechnology or Integration · 25 February 2026Appointed as market maker providing continuous liquidity for Virtune's spot crypto ETPs on Warsaw Stock Exchange, enabling XTB clients to trade Bitcoin, Ethereum, XRP, and Solana ETPs.
• Globe Soccer AwardsmajorGTM or Marketing Partner · 23 December 2025Gold Sponsor of 16th annual Globe Soccer Awards held in Dubai, enhancing global brand visibility and engagement with international football community.
• DiPocket UABcoreTechnology or Integration · 2 October 2024Multi-currency virtual debit card and mobile wallet issued under Mastercard license by DiPocket UAB. Supports 7 currencies (EUR, USD, GBP, PLN, RON, CZK, HUF) and integrates with Apple Pay and Google Pay.
• Zlatan IbrahimovićmajorGTM or Marketing PartnerXTB brand ambassador. Global football star promoting XTB as the universal investment application, enhancing brand recognition across European markets.

Scale indicators11 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• eToro: Israel-founded multi-asset retail broker with commission-free stock/ETF trading, CFDs, and crypto offering; competes head-to-head with XTB across European markets under similar product-led growth model.
• Trading 212: Commission-free European retail broker offering stocks/ETFs, CFDs, and ISA products across UK and EU; directly competes with XTB on price, app UX, and zero-commission equities.
• Interactive Brokers: Global multi-asset broker with stocks, options, futures, FX, and CFDs serving retail and institutional clients; comparable broad-instrument offering and cross-border distribution to XTB.
• DEGIRO: European low-cost discount broker (now part of flatexDEGIRO) offering stocks, ETFs, options, futures, and CFDs; overlaps with XTB's commission-free stock/ETF value proposition and ISA products in key European markets.
• Plus500: UK-listed retail broker specializing in CFDs across forex, commodities, indices, shares, and crypto; comparable CFD-heavy revenue model and European retail focus as XTB's legacy core business.
• IG Group: UK-listed global online trading provider offering CFDs, spread betting, share trading, and ISA products; comparable regulatory footprint (FCA) and multi-asset retail offering as XTB.
• CMC Markets: UK-listed CFD-focused broker with growing stock/ETF offering across Europe, Asia, and MENA; overlaps with XTB's CFD trading business and expanding institutional liquidity services.
• Hargreaves Lansdown: UK's largest direct-to-consumer investment platform with ISA, SIPP, and fund/stock trading; comparable UK ISA offering and self-directed retail investor focus as XTB's UK segment.
• Saxo Bank: Danish multi-asset broker offering stocks, ETFs, FX, CFDs, futures, and options across retail and institutional channels; comparable product breadth, cross-border distribution, and tiered trading platform.

Broad incumbents

• Robinhood: US-listed commission-free broker pioneering the zero-commission retail trading model with stocks, ETFs, options, and crypto; not a direct geographic competitor to XTB but a clear global benchmark for product-led growth brokerage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/xtbint
• YouTubeyoutube.com/user/xtbpl
• Facebookfacebook.com/xtbpl
• LinkedInlinkedin.com/company/xtb

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Xtb