XTB Receives Licenses to Operate in Indonesia & UAE

XTB, a UK-registered online forex and CFD broker recently secured licenses in, Indonesia and the United Arab Emirates (UAE). Omar Arnaout, CEO of XTB, said“This license brings us significantly closer to launching our operations in Indonesia,”

The official commentary was issued in Polish and auto-translated to English. “The past months have been intense, as we undertook extensive organizational, regulatory, and technological work to prepare for entering this promising market. We estimate that we will be able to start operations there in the first half of 2025.”

The Indonesian regulatory body, Bappebti, has granted a PALN license to XTB Indonesia Berjangka, the company's Indonesian subsidiary. XTB can now provide stock and ETF investment services to citizens of Southeast Asia. Operations in Indonesia are expected to begin in the first half of 2025.

This new approval not only boosts the company's progress in Indonesia but also expands its Middle Eastern operations, allowing it to offer services beyond Dubai's special economic zone.

According to the company's most recent financial data, Middle East operations reported a 44.7% rise in operational revenue in Q3 2024 compared to the same period the previous year.

About XTB

XTB is a well-regulated and reputable forex broker with several years of experience in the industry. The company offers a wide range of tradable assets, competitive spreads, and a user-friendly trading platform with advanced features. The educational resources provided by XTB are also a valuable asset for both novice and experienced traders.

About BAPPEBTI

BAPPEBTI was launched in 2005 to regulate certain sections of the financial services industry in Indonesia. It is the only agency with regulatory responsibility for various financial institutions. It operates under the supervision of the Indonesian Ministry of Finance and is managed by a board of administrators, all of whom are selected by the government from industry experts.

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