XTB Receives License To Expand In Chile
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XTB, the Warsaw-listed financial technology company, said it received a securities agent license from Chile’s Financial Market Commission. The company noted that this step is part of its plan to grow in Latin America. This approval will help XTB expand its services to more investors. The firm is excited about the opportunities this brings.
According to the update, the license allows XTB to offer Chilean investors access to international stocks, ETFs, and derivatives. The company said these services will be available through its digital trading platform. It noted that the first group of Chilean clients will be onboarded in early 2025.
XTB Aims To Attract New Clients With Its Chile License
Omar Arnaout, the leader of XTB, said Latin America has great potential for the company. He noted that Chile is a key part of its global expansion plan. Arnaout looks forward to welcoming many new clients in Chile. He said this license will strengthen the company’s position in the region.
XTB said it is also working on regulatory approvals in Brazil. It said this is another step in its goal to grow beyond Europe. The company noted that Latin America is an important market for its plans. XTB is committed to serving investors in the region.
XTB’s latest report for last year revealed that the company attracted around 500,000 new traders. It said this was a 60% increase compared to the previous year. The company said expanding into different regions is helping it grow. According to reports, more traders are joining its platform each year.
According to the update, Chilean clients will be able to access over 6,300 financial instruments. These instruments will be available through XTB mobile app and online platform. The company said its platform supports both active trading and long-term investments. This gives clients more ways to manage their money.
XTB has been looking to expand to Latin America since 2017. The company said it first opened an office in the area at that time. It noted that the new license will help it offer more financial services.
XTB Aims For Global Business Growth
According to the update, XTB has also been expanding into Asia and the Middle East. The company said it received regulatory approval in Indonesia and the UAE last year. These approvals will open new opportunities in those regions. XTB noted that these moves support its global business growth.
Arnaout said the Indonesia license brings the company closer to launching operations there. He noted that this is an important step for XTB in the Asian market. Entering new regions helps XTB reach more investors, according to the company. XTB is focused on expanding globally.
Founded in Poland in 2004, XTB has more than 1,100 employees in different countries. The company is supervised by top financial regulators. These include authorities in the UK and Poland. XTB said its mission is to help investors trade easily worldwide.
