XTB is gearing up for a transformative year as it unveils its 2024 product roadmap, showcasing a strategic shift towards passive investments, social trading, and advanced AI integration. The publicly traded fintech firm, rooted in the FX/CFD sector, has already introduced fractional shares and passive Investment Plans across diverse markets, with plans to expand these offerings to the xStation platform in the first or second quarter of the year.
A pivotal aspect of XTB’s 2024 vision is the proliferation of investment options. The company’s focus on passive investing is underscored by its reported substantial growth in this realm. Additionally, XTB is set to roll out social trading products, enabling users to track top investors, complete with risk-based rankings and categorizations, coupled with real-time notifications of trading activities.
The roadmap also unveils initiatives to enhance fixed-income offerings, with a particular emphasis on democratizing bond investments. Employing a fractional shares-like mechanism, XTB aims to facilitate investments in fixed-rate bonds starting from EUR 10, encompassing a diverse portfolio of government and corporate bonds with high ESG ratings and secure ratings ranging from AAA to BBB. Renowned issuers such as General Motors and Coca-Cola are part of this expanded offering.
Another groundbreaking move involves the introduction of a multi-currency virtual wallet alongside a versatile multi-currency card. This feature promises instant payments between XTB accounts, real-time market settlements, and support for over 100 currencies, offering users comprehensive control over expenses with instantaneous transaction notifications.
Addressing the demand for tax-efficient retirement products, XTB is set to cater to its home markets with the introduction of local “IKE” and “IKZE” accounts. IKE, standing for “Individual Retirement Account,” and IKZE, akin to the “Individual Retirement Security Account,” are tailored for retirement savings with distinct tax benefits.
Of note, XTB is committed to a commission-free approach for stock investments up to EUR 100,000 monthly, aligning with its broader fee structure. Despite their current underutilization in Poland, there is a burgeoning interest in tax-efficient retirement products, as evidenced by significant asset value growth in accounts managed by brokerage houses. At the end of H1 2023, these accounts amassed PLN 5.5 billion, reflecting a 24% increase compared to the end of 2022, according to data from the Polish Financial Supervision Authority.