XTB has obtained regulatory approval to offer contracts for difference (CFDs) in Indonesia and expects to launch the product within weeks, according to CEO Omar Arnaout in an interview published Thursday. The authorization expands the broker's existing locally regulated business, which had so far been limited to stocks and exchange-traded funds (ETFs).
Warsaw-listed XTB entered the Indonesian market through the acquisition of a 90% stake in Eagle Capital Futures, a deal completed in January 2024. Following the acquisition, its local subsidiary secured approval to offer products tied to stocks and ETFs, with the company initially planning a broader roll-out in 2025. The newly obtained CFD license accelerates this timetable by allowing XTB to add a higher-revenue product segment in the near term.
Arnaout said XTB had recently received the CFD authorization and indicated that the group has no additional licensing or geographic expansion initiatives planned at this stage. Instead, the company intends to concentrate on its existing markets, which include Indonesia, Chile, the Gulf region and several European countries. The decision reflects a strategy of deepening operations in current jurisdictions rather than pursuing new entries.
The introduction of CFDs in Indonesia is significant for XTB because the product remains the firm’s primary earnings driver. In the first half of 2026, CFDs generated PLN 1.98 billion, accounting for about 96% of XTB’s gross result from financial instruments. Adding CFDs to the Indonesian offering is intended to strengthen performance in a market where the broker has so far faced challenges such as low client deposits and limited brand recognition.
XTB is moving to expand its product set as other international brokers build locally regulated businesses in Indonesia. In December 2025, Plus500 acquired Global Intra Berjangka, a Bappebti-regulated broker that had stopped onboarding clients in 2023, and began offering services via a local website. Against this backdrop, XTB’s new CFD license positions the firm to compete more directly in the Indonesian derivatives trading segment.
