简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:XTB has recently made significant strides by obtaining authorization to offer Individual Savings Accounts (ISAs) in the UK, a market estimated at £400 billion, just months after announcing its intentions to enter this sector.
XTB has recently made significant strides by obtaining authorization to offer Individual Savings Accounts (ISAs) in the UK, a market estimated at £400 billion, just months after announcing its intentions to enter this sector.
XTB's CEO Omar Arnaout, during the February earnings conference following the 2023 report, disclosed the company's strategic move to penetrate the competitive realm of tax-exempt investment products in the UK, following its initial success in Poland with future pension offerings.
The UK ISA market, catering to 27 million individuals and boasting £400 billion in assets, allows British citizens to invest up to £20,000 annually without tax obligations, presenting a lucrative opportunity for XTB's expansion beyond its standard CFD offerings into stocks and passive investing through ETFs.
Joshua Raymond, Managing Director at XTB UK, expressed satisfaction with the approval of their ISA licensing application by HMRC, highlighting the company's commitment to broadening its investment and savings product range. He further disclosed plans for the ISA offerings to be available to UK clients by the third quarter of the year.
In 2023, XTB experienced substantial growth, increasing its active client base to 312,000, with a subsequent milestone achievement of surpassing one million users in 2024, partly driven by a notable 93% surge in active clients in the UK.
Despite XTB UK's revenue of £4.7 million in 2023, considered modest in comparison to the broader fintech sector, the company anticipates a significant shift with its entry into the ISA market, given that the UK witnesses 12 million new ISA subscriptions annually, marking a substantial growth opportunity.
Raymond emphasized that XTB's expansion into ISA accounts in the UK represents a significant milestone in its product rollout strategy, complementing its existing offerings, including ETFs, stocks, Investment Plans, and CFD products.
XTB's growth trajectory extends beyond the UK, as evidenced by its recent acquisition of Indonesian broker Eagle Capital Futures in March, positioning itself as a gateway to the Asian market.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Meta Description: The Nigerian Senate supports cryptocurrency regulation to safeguard investors and strengthen the naira amid inconsistent policies. This move aims to boost economic stability and attract investments.
The foreign exchange market, commonly known as forex, stands as the world's largest financial arena, boasting daily trading volumes in the trillions of dollars. For those eager to capitalize on currency fluctuations, entering this dynamic yet intricate market necessitates the guidance of a skilled intermediary: the forex broker.
SC Malaysia has been cautioned regarding Arab investment company. According to the Authority, a possible clone operating an illegal investment scheme offers high returns e.g.a return of RM3,000 in 24 hours with an investment of RM300. This entity does not carry a License.
SWIFT EARNERS has emerged as a controversial and highly dubious player. Despite its claims of being a reliable broker with a base in the United States and additional operations in Thailand, the experiences of numerous victims tell a different story. A particularly harrowing account comes from a South African victim who has found himself ensnared in what appears to be a well-orchestrated scam.