XTB Secures CFD Licence for Indonesian Investors

XTB has secured regulatory clearance to provide contracts for difference (CFDs) to Indonesian investors and plans to roll out the service within the next few weeks, according to CEO Omar Arnaout in a Thursday interview. The new permission expands the broker’s existing Indonesian footprint, which until now has been limited to equities and exchange‑traded funds.

CFD licence approval and rollout schedule

Arnaout detailed the timeline during a conversation with the Polish‑language YouTube channel Comparic, noting that only minor operational steps remain before the product can be “officially launched in a matter of weeks.” The comments were translated into English by FinanceMagnates.com.

Recent Indonesian market entry

XTB entered the Indonesian market after acquiring a 90 % interest in Eagle Capital Futures, a transaction completed in January 2024. The subsidiary initially received approval to operate in the equities and ETF space, with the broker originally aiming for a 2025 launch of those services.

Strategic importance of the CFD product

Adding CFDs introduces a higher‑margin offering in a market where XTB has faced modest deposit volumes and limited brand awareness. In a prior interview with Comparic, Arnaout remarked that Indonesia needed to demonstrate, within six months, that it warranted resources comparable to those allocated to Europe, the United Arab Emirates and South America. While Indonesia delivered XTB’s quickest accumulation of the first 1,000 accounts, the CEO cautioned that the profitability outlook remained unclear and that he preferred directing technology capacity toward Germany and the UAE—a view reported by FinanceMagnates in March.

Arnaout now confirms that the CFD licence has been obtained and that no further regulatory expansions are planned at this stage. The broker will focus on its current territories, which include Indonesia, Chile, the Gulf region and several European markets.

Competitive landscape in Indonesia

XTB’s move follows similar steps by other global brokers building locally regulated operations. In December 2025, Plus500 purchased Global Intra Berjangka—a broker regulated by Bappebti that had halted client onboarding in 2023—and subsequently launched its services via a domestic website. Meanwhile, Doo Financial secured a futures brokerage licence and permission to operate on Indonesia’s alternative trading system in December 2024, covering futures, CFDs and over‑the‑counter products, according to an earlier Finance Magnates report.

CFDs as a revenue driver

CFDs remain the cornerstone of XTB’s earnings. In the first half of 2026 they generated PLN 1.98 billion, representing roughly 96 % of the company’s gross result from financial instruments. At the same time, the broker added 703,333 new clients, with stocks, ETFs and Investment Plans accounting for 82.9 % of the initial transactions made by newly acquired European Union customers.

Ambitions in Europe: France and Germany

During the same Comparic interview, Arnaout set a target for the French market, forecasting that XTB could become the “second most popular investment app in France” by the close of 2026, though he did not disclose the data source or methodology behind the claim. In France, XTB has broadened its product suite, launching tax‑advantaged PEA accounts in April 2025 and expanding its US options offering to French clients in May 2026. The firm also reported a 50 % increase in its French client base over 2025. A sponsorship of the Paris La Défense Arena announced in March marked XTB’s largest branding commitment in the country to date.

Upcoming promotional push

Without revealing specifics on pricing or product features, Arnaout indicated that XTB is preparing a multi‑country promotional campaign slated to roll out “within three to six weeks,” describing the offer as a surprise for several markets. He added that Germany and France will receive the most significant boost in marketing spend in the coming years, as both nations have the potential to match Poland’s revenue contribution. XTB has already pledged to allocate more marketing resources to Germany than to its home market of Poland this year.

Arnaout concluded by reiterating the longer‑term goal of building “the biggest investment app in the EU,” while confirming that the broker does not intend to pursue additional geographic licences for the time being.

Local regulatory progress and market strategy

XTB has secured the necessary permission to offer contracts for difference (CFDs) in Indonesia and plans to roll the product out within a matter of weeks, according to CEO Omar Arnaout. The new licence expands the firm’s existing Indonesian presence, which had previously focused on equities and exchange‑traded funds. Arnaout noted that only routine operational adjustments remain before the launch can be officially announced, a detail he shared in a Polish‑language interview with the YouTube channel Comparic.

The broker entered the Indonesian market in January 2024 by acquiring a 90 % stake in Eagle Capital Futures, a move that enabled XTB to establish a local subsidiary. That entity had already been approved to trade stocks and ETFs, with an initial launch target set for 2025. The addition of CFDs is intended to boost revenue in a market where deposits have been modest and brand visibility limited. In a prior interview, Arnaout emphasized that Indonesia was given a six‑month window to demonstrate its viability alongside XTB’s operations in Europe, the United Arab Emirates, and South America. Despite generating the broker’s fastest first 1,000 accounts, the economics of the Indonesian market remained uncertain, prompting the CEO to prioritize technology resources in Germany and the UAE.

XTB has confirmed that it will not pursue further geographic licences for the time being, focusing instead on consolidating its existing footprint in Indonesia, Chile, the Gulf region, and multiple European jurisdictions.

Competitive landscape and local entrants

The Indonesian market is seeing a wave of new locally regulated brokers. In December 2025, Plus500 acquired Global Intra Berjangka, a Bappebti‑regulated firm that had ceased client onboarding in 2023, and began offering services through a dedicated local website. Doo Financial took a different route, obtaining a futures brokerage licence and approval to operate on the country’s alternative trading system in December 2024. These permits cover futures, CFDs, and over‑the‑counter products, according to earlier reports from Finance Magnates.

Revenue impact of CFDs

CFDs continue to be XTB’s primary earnings generator. In the first half of 2026, they contributed PLN 1.98 billion—roughly 96 % of the broker’s gross result from financial instruments. Meanwhile, stocks, ETFs, and investment plans accounted for 82.9 % of the initial transactions of new European Union clients, reflecting a diverse product mix.

Expansion ambitions in France

Arnaout set an ambitious target for France, stating that if the current growth trajectory holds, XTB could become the second most popular investment app in the country by the end of 2026. Although the CEO did not disclose the data source or methodology behind this projection, the firm has already broadened its product range and marketing in the French market. Tax‑advantaged PEA accounts were launched in April 2025, coinciding with a 50 % rise in the French client base that year. In May 2026, XTB expanded its US options offering to France. Brand visibility was further enhanced through a sponsorship agreement with Paris La Défense Arena announced in March, which represented the broker’s largest French branding commitment to date.

Upcoming promotional push

Without revealing specific product or pricing details, Arnaout announced that XTB is preparing a promotional campaign that will span several European markets. He estimated the rollout would occur within three to six weeks, with the offer positioned as a surprise in multiple countries. Germany and France are slated to receive the most significant increase in marketing spend over the coming years, as both markets can match Poland’s revenue potential. XTB has already committed to allocating more marketing resources to Germany than to its home market of Poland this year.

Arnaout reiterated the long‑term objective of building “the biggest investment app in the EU,” while confirming that the broker will not pursue additional geographic licences for the foreseeable future.