XTB has received approval to offer CFDs in Indonesia and expects to introduce the product within weeks, CEO Omar Arnaout said in an interview published Thursday. The authorization broadens an existing local operation that had focused on stocks and exchange-traded funds.
Arnaout disclosed the timetable in an interview with Polish-language YouTube channel Comparic. Only minor operational work remains before XTB can “officially start within a few weeks,” he said in comments translated from Polish by FinanceMagnates.com.
Warsaw-listed XTB entered Indonesia through the acquisition of a 90% stake in Eagle Capital Futures, completed in January 2024.
Its local subsidiary later received approval tied to stocks and ETFs, with XTB initially targeting a 2025 launch.
Indonesia Moves Beyond Its Trial Phase
The CFD license adds a higher-revenue product to a market where XTB has struggled with low deposits and limited brand recognition. In an earlier Comparic interview, Arnaout said Indonesia had six months to prove that it deserved resources alongside Europe, the United Arab Emirates and South America.
That assessment followed a mixed start. Indonesia produced XTB’s fastest first 1,000 accounts, but the CEO said the economics remained uncertain and that he preferred assigning technology resources to Germany and the UAE. FinanceMagnates.com reported those comments in March.
Arnaout now says XTB recently obtained the CFD authorization and has no further licensing or geographic expansion planned. The company will concentrate on its current markets, including Indonesia, Chile, the Gulf region and several European countries.
Plus500 and Doo Financial Target the Same Market
XTB is adding CFDs as other international brokers build locally regulated Indonesian businesses. In December 2025, Plus500 acquired Global Intra Berjangka, a Bappebti-regulated broker that had stopped onboarding clients in 2023, and began offering services through a local website.
Doo Financial took a licensing route. Its Indonesian subsidiary received a futures brokerage license and approval to participate in the country’s alternative trading system in December 2024. The permits cover futures, CFDs and over-the-counter products, according to the earlier Finance Magnates report.
The local competition matters because CFDs remain XTB’s main earnings source. They generated PLN 1.98 billion, or about 96%, of the company’s gross result from financial instruments in the first half of 2026. XTB nevertheless acquired 703,333 clients as stocks, ETFs and Investment Plans accounted for 82.9% of first transactions by new European Union clients.
XTB Targets the No. 2 Position in France
In the same Comparic interview, Arnaout set a target for France. If the current pace continues, he expects XTB to be the “second most popular investment app in France” by the end of 2026. He did not identify the data provider or methodology behind that ranking.
XTB has expanded both its products and marketing in France. The company introduced tax-advantaged PEA accounts in April 2025, while its French client base grew 50% during that year, according to the firm. It later extended its US options offering to France in May 2026.
The broker has also increased brand spending in the country, including a sponsorship agreement with Paris La Défense Arena announced in March. The venue deal was XTB’s largest French branding commitment at the time, according to the firm.
A European Promotion Is Coming
Without giving product or pricing details, Arnaout said in the YouTube interview that XTB is preparing a promotional campaign across multiple European markets. He put the expected timing at “from three to six weeks” and said the offer would be a surprise in several countries.
Germany and France will receive the largest increase in marketing attention over the coming years because both can match Poland’s revenue potential, Arnaout said. XTB has already committed to spending more on marketing in Germany than in Poland this year.
Arnaout said the longer-term objective is to build “the biggest investment app in the EU.” XTB does not plan to seek additional geographic licenses for now.
This article was written by Damian Chmiel at www.financemagnates.com.
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