XTB expands into Asia and acquires Indonesian broker Eagel Capital Futures, eyeing growth in emerging markets.
XTB forex broker, with a retail client base of over 1 million, acquired an Indonesian broker, Eagel Capital Futures, with 90 percent of its shares. This step will see the low cost broker entering the Asian market, positioning Indonesia as the foothold from which future growth is possible.
The deal implements XTB forex broker's media plan to crack the most dynamic markets apart from Europe, such as Latin America, Africa, and Asia. Profits of this FCA-regulated broker, which has a team consisting of more than 12 million active retail investors, are likely to grow due to the emerging financial market of Indonesia.
The company had a net profit of PLN 791.3 million in 2023, which is a high figure compared to the year before it. Before starting the operations in Indonesia, this fast-execution broker must get permission from the regulatory authorities and link the technology to reach the local investors effectively.
Indonesia is perceived as a critical location in the region that supports its strategic vision of developing its presence in markets where growth is promising. The action indicates the company's intentions to diversify its industry and enter emerging markets.
Moreover, the innovation in the delivery of services like XTB Social and the partnership with BlackRock to make it easier to invest in ETFs reflect the company's proactive approach to draw more customers and capitalize on the opportunities in a fast-changing investment world.
The no-commission broker is expanding into Indonesia, and this mirrors a trend in the industry where global players like Webull are also making strategic moves.
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