XTB, the Warsaw-listed financial technology company (GPW: XTB), has obtained a securities agent license from Chile's Financial Market Commission (CMF), continuing it expansion plan in Latin America.

XTB Secures Chilean Securities License in Latin American Push

The license approval enables XTB to offer Chilean investors access to international stocks, ETFs, and derivatives through its digital trading platform. The company expects to begin onboarding its first Chilean clients within the first half of 2025.

“As we consider the retail brokerage market beyond Europe, we recognize the immense potential in Latin America,” said Omar Arnaout, the CEO of XTB, in a statement emailed to Finance Magnates. “Chile stands out as a key player in XTB’s global growth vision, and I eagerly anticipate welcoming many new clients who will be onboarded under our new license. This development will be crucial in enhancing our competitive position in the region.”

The move comes as XTB, which currently serves over 1.36 million customers globally, seeks to strengthen its foothold beyond its European core markets. The company is simultaneously pursuing regulatory approvals in Brazil, signaling its commitment to the Latin American region.

In an exclusive interview with Finance Magnates, Arnaout admitted that what matters most to him is building a customer base, and geographic diversification will certainly help achieve that. The fintech's goals were confirmed by the latest 2024 report, which showed that the company managed to acquire around 500,000 traders, marking a 60% increase compared to the previous year.

XTB's Chilean clients will gain access to more than 6,300 financial instruments through the company's mobile app and online platform, which includes features for both active trading and passive investment strategies.

From Europe to Other Continents

Discussions about XTB targeting Latin America date back to 2017 when the fintech first established a local subsidiary in the region. Obtaining a new license will enable the company to offer a much broader range of financial services and instruments.

Recently, XTB has been strongly focusing on geographic diversification. At the end of last year, the company announced that it had simultaneously received regulatory approval to operate in Indonesia, which is expected to serve as a gateway to Asian markets, and in the United Arab Emirates (UAE), opening the firm to traders in the Middle East.

“This license brings us significantly closer to launching our operations in Indonesia,” commented Arnaout.

Founded in Poland in 2004, XTB has grown to employ over 1,100 people across multiple jurisdictions, including the UK, Germany, and Dubai. The company operates under the oversight of major financial regulators, including the UK's Financial Conduct Authority and the Polish Financial Supervision Authority.