XTB Will Launch Social Trading and Bond Offerings in 2024: Roadmap for the Product
By: Damian Chmiel
Listed fintech company XTB (WSE: XTB) presented its 2024 product roadmap after the end of Tuesday’s meeting. It is a good idea. The company’s origins in the FX/CFD sector are increasingly reflected in its growth. Focus on social trading, passive investing and comprehensive AI usage technology.
A Leap into Social Trading and Investment Plans
At the heart of XTB’s vision for 2024 is expanding its investment offering. The company has already integrated fractional shares and passive investment plans into its app and now offers a feature available in several markets, including Poland. Germany, Spain, Portugal, Romania, Czech Republic, Slovakia, Great Britain, Italy and the MENA region. This will soon be expanded to the xStation platform in the first or second quarter of the year. The company has clearly shifted towards passive investing. We report significant growth in this area.
Omar Arnaout is the CEO of added to the XTB offering. This moment has been in the making for some time. Our active efforts to develop the product and Omar Arnaout is the CEO of XTB and he commented on his technology department at Finance Magnates.
In addition, XTB will present products for social trading. The platform allows users to engage in social trading. Monitor the moves of top investors with rankings and categories. Based on risk profiles. Real-time notifications about trading activity. Add to this initiative
“Social trading is a new feature.” within our
trading platform Helping others is easy. Arnaout explains that investors should make calculated investments. Bonds and virtual wallets with multi-currency card
The roadmap shows plans to expand fixed income products, including by making them easier to access. Bond investing is more accessible. A mechanism similar to the fractional XTB is intended to allow investors to invest in fixed-interest bonds starting at EUR 10. The portfolio will be a mix of corporate and government bonds. Focus on ratings in the AAA to BBB range and with high ESG ratings. Notable This offering includes issuers such as General Motors, Coca-Cola and others.
Then you can also look at another one. The introduction of the multi-currency digital wallet is a major development. This feature is accompanied by a card that accepts multiple currencies. This feature guarantees instant payments. XTB accounts are linked to real-time market settlements, including local instant payments
. The wallet supports over 100 currencies and offers users a wide range of options. Full control of your spending with real-time notifications. Transactions.“Hopefully by the end of this year we will introduce solutions aimed at further expanding our customer base. First, we will have a virtual wallet with multi-currency cards. This introduction has led to the creation of a virtual one.” “XTB as a solution will be a comprehensive platform for managing finances,” concluded Arnaout. The CEO refused to answer directly when asked who XTB is working with to release the card. Arnaout only announced that the “respected global player” would make it possible to offer the new product “in every part of the world”.
Tax-Efficient Retirement Poles and Pole Products
Finally, XTB’s retirement products are tailored to the needs of customers who want tax-efficient products. Home markets include local “IKE”, “IKZE” and other accounts. IKE It is also called personal pension. Savings account with tax advantages. IKZE is also known as “Individual”. The pension insurance account is similar to IKE and is intended for retirees. The tax advantages for retirement savings vary.
The company has emphasized a commission-free approach for investments of up to EUR 100,000 monthly, in line with the broader fee structure. The Polish Data and Financial Supervisory Authority has signaled growing interest in these products. They are currently underused in Poland.
Brokerage is a good example. The assets under management of these houses have grown significantly. Accounts. IKE recorded the highest increase in assets. In accounts managed by brokerage firms (at the end of the first half of 2023 they amounted to over PLN). At the end of 2022 there will be an increase in the number of people of 24% (5.5 billion) compared to the end of 2012.
“XTB” is a global company, so every product we launch is analyzed from a global perspective. Our retirement offer is the same in all areas and we hope that everyone will accept it. Arnaout said: “We will consider dynamic implementation in countries where such products are available.”
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