Polish brokerage XTB is reevaluating its planned entry into the Brazilian market, less than a year after receiving its operating license. The firm cited challenging local market conditions as the reason for the strategic pause.
Despite this setback in Brazil, XTB’s global growth continues strongly. The company is successfully moving forward with its launch in Indonesia and is on track to begin operations in Chile by 2025.
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This strategic shift comes as the company navigates a broader industry-wide slowdown in trading activity. Simultaneously, XTB continues to innovate, having recently launched a new multi-currency eWallet that has already attracted tens of thousands of users.
