XTB is targeting the lucrative £400 billion market in the UK. With plans to submit an ISA application in the coming weeks, the company anticipates a "strong take-up."
A leading online trading company XTB forex broker announces its eyes on the UK's £400bn ISA market, submitting an ISA manager licensing application. The publicly listed Polish broker has a good history and plans to extend its activities to the United Kingdom market.
Its investment portfolio consists of tax-efficient individual saving accounts (ISA) which local savers can also purchase. The move is the FSA-regulated broker's latest step in its worldwide plan of action after it debuted retirement accounts in Poland, signaling its interest in the global market.
The Regional director of XTB forex broker, Joshua Raymond, affirmed his belief in the rising prevalence of ISA in the UK market. He pointed out that adopting the modern app might be advantageous in obtaining new clients as trading stocks and ETFs will be commission-free.
XTB's CEO, Omar Arnout reflected on this as well by emphasizing the company's plans to do even better in the UK by increasing its market share yearly.
It is worth noting that apart from the Polish market, its expansion into the UK market is a major step in its growth plan. By projecting multiple investment products, ETFs, stocks, investment plans, and CFDs, this low-spread broker intends to provide complete services to clients with varied investment styles.
Its decision to offer ISA shows this no-commission broker's commitment to provide both innovative and tax-free investment solutions, which were developed for the use of UK savers only.
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