XTB shares rose more than 2% on Tuesday to test 97.97 zlotys on the Warsaw Stock Exchange, surpassing the previous all-time high of 96.94 zlotys recorded on March 10, as the Polish online broker announced the rollout of options trading in Germany and Spain.
Clients in both markets can now trade US-style options on 110 US-listed stocks and exchange-traded funds, including contracts with zero days to expiration, or 0DTE, on select underlying instruments, the company said. Fractional options trading is also available, the company said in a press release on Tuesday.
Germany and Spain are among the most important European markets for XTB. The launch comes after A It was first launched in Cyprus earlier this yearXTB used its CySEC-regulated entity to test the product with a limited customer base before expanding to larger jurisdictions. In the larger market, its main base in Poland, customers still have to wait for the offer.
Restrictions on CFDs in Spain add context to options payouts
Spanish expansion is particularly notable. Since 2024, the Spanish market regulator CNMV has been in effect Strict restrictions on advertising and marketing of CFDs It targets retail investors, effectively preventing brokers from promoting their underlying leveraged products in the country. The rules prohibit sponsorship, use of public figures and online promotional content related to CFDs, although trading itself remains permitted at the initiative of the client.
For XTB, whose revenues are still heavily reliant on CFD activity, the ability to offer options in Spain gives the broker an alternative product to market to local clients without falling into the CNMV’s CFD advertising restrictions. XTB previously said the Spanish market represents about 10% of its revenue.
Omar Arnaout, CEO of XTB, Source: LinkedIn
“Data on the growing popularity of options trading in the United States clearly shows that these instruments are gaining importance among individual investors,” Omar Arnaout, the company’s CEO, said in the company’s press release.
“For years, they have been associated with complex solutions for professionals, but technological development and easy access to knowledge mean that more and more investors are treating options as a tool to implement their investment strategies.” He added that the broker “will continue to expand options to additional European markets in the coming months.”
European brokers are racing to add options for retail clients
XTB is not the only European-focused broker moving into retail options. IG Group, the London-listed trading platform, Open a waiting list for options trading in the UK Under its Tastytrade brand in late 2025, and its Japanese arm more recently Expanded vanilla options for accessing corporate accounts. Interactive Brokers and Saxo Bank have offered options products across European markets for years, giving them a head start in a sector dominated by US platforms such as Robinhood and delicioustrade.
What’s unique about XTB’s approach, at least for now, is that clients can only buy options, not write them. This limits downside risk for retail traders who may not be familiar with derivatives, although it also limits the revenue potential of the product compared to full options books. Company Discuss this approach to purchase only As early as October 2025, when board member Filip Kaczmarzyk told Polish financial daily Parkiet that the broker planned to start with a stripped-down version and expand the functionality over time.
The broader trend reflects a European retail market that is growing more competitively by this quarter. Robinhood, Trade Republic, and Interactive Brokers have all been Expanding aggressively on the continentprompting existing companies like XTB to expand their product menus to retain customers. XTB reported a record customer flow of 21,500 users in the third quarter of 2025, a figure the company attributed to reduced market volatility rather than competitive pressure, although analysts at the time were less certain.
Stocks hit record high after months of volatility
Tuesday’s stock price move puts XTB at its highest level since the company listed on the Warsaw Stock Exchange in 2016. The stock has been volatile in recent weeks, It fell more than 3% on March 21 After the company published full-year 2025 results which showed that net profit fell by 24.8% to PLN 644.2 million, even as revenue reached a record level of PLN 2.15 billion. Nearly doubling marketing spending to more than PLN 427 million in additional operating costs was the main drag on the bottom line.
Source: Stoq.com website
Noble Securities maintained a “buy” rating on the stock with a price target of 95.70 zlotys as of January, citing expectations of a financial recovery driven by rising trading volatility and an ambitious product roadmap that includes Margin trading and extended market hours 24/5.
In addition to options, the broker said it has also integrated TradingView-powered charts across its mobile platform, allowing clients to access configurable charts, indicators and alerts and place direct orders from the chart view. The web platform version of TradingView charts is currently only available in markets where options trading has been launched, the company said.
Employee incentive plan and dividends are on the agenda
Separately, XTB’s extraordinary general meeting scheduled for May 8 will vote on a new employee incentive program covering all employees, not just senior executives. Under this proposal, 25% of employees with the highest average annual performance ratings will receive bonus shares, provided the company achieves at least 70% of its consolidated net profit target. The shares will vest over three years.
The meeting will also consider authorizing the Board of Directors to buy back up to 80 thousand shares at prices between PLN 50 and 120 each, financed from a reserve of PLN 9 million, to settle obligations under the current MRT incentive program for 2025.
In terms of dividends, XTB’s management recommended distributing PLN 478.5 million from net profits in 2025, or PLN 4.07 per share. Suggested registration date is June 15, with payment due June 24. The company is still awaiting approval from Poland’s financial regulator, the KNF, before it can offer options to Polish clients, and its plans to launch spot trading for cryptocurrencies remain contingent on pending MiCA-related legislation in Poland.
XTB shares rose more than 2% on Tuesday to test 97.97 zlotys on the Warsaw Stock Exchange, surpassing the previous all-time high of 96.94 zlotys recorded on March 10, as the Polish online broker announced the rollout of options trading in Germany and Spain.
Clients in both markets can now trade US-style options on 110 US-listed stocks and exchange-traded funds, including contracts with zero days to expiration, or 0DTE, on select underlying instruments, the company said. Fractional options trading is also available, the company said in a press release on Tuesday.
Germany and Spain are among the most important European markets for XTB. The launch comes after A It was first launched in Cyprus earlier this yearXTB used its CySEC-regulated entity to test the product with a limited customer base before expanding to larger jurisdictions. In the larger market, its main base in Poland, customers still have to wait for the offer.
Restrictions on CFDs in Spain add context to options payouts
Spanish expansion is particularly notable. Since 2024, the Spanish market regulator CNMV has been in effect Strict restrictions on advertising and marketing of CFDs It targets retail investors, effectively preventing brokers from promoting their underlying leveraged products in the country. The rules prohibit sponsorship, use of public figures and online promotional content related to CFDs, although trading itself remains permitted at the initiative of the client.
For XTB, whose revenues are still heavily reliant on CFD activity, the ability to offer options in Spain gives the broker an alternative product to market to local clients without falling into the CNMV’s CFD advertising restrictions. XTB previously said the Spanish market represents about 10% of its revenue.
Omar Arnaout, CEO of XTB, Source: LinkedIn
“Data on the growing popularity of options trading in the United States clearly shows that these instruments are gaining importance among individual investors,” Omar Arnaout, the company’s CEO, said in the company’s press release.
“For years, they have been associated with complex solutions for professionals, but technological development and easy access to knowledge mean that more and more investors are treating options as a tool to implement their investment strategies.” He added that the broker “will continue to expand options to additional European markets in the coming months.”
European brokers are racing to add options for retail clients
XTB is not the only European-focused broker moving into retail options. IG Group, the London-listed trading platform, Open a waiting list for options trading in the UK Under its Tastytrade brand in late 2025, and its Japanese arm more recently Expanded vanilla options for accessing corporate accounts. Interactive Brokers and Saxo Bank have offered options products across European markets for years, giving them a head start in a sector dominated by US platforms such as Robinhood and tastytrade.
What’s unique about XTB’s approach, at least for now, is that clients can only buy options, not write them. This limits downside risk for retail traders who may not be familiar with derivatives, although it also limits the revenue potential of the product compared to full options books. Company Discuss this approach to purchase only As early as October 2025, when board member Filip Kaczmarzyk told Polish financial daily Parkiet that the broker planned to start with a stripped-down version and expand the functionality over time.
The broader trend reflects a European retail market that is growing more competitively by this quarter. Robinhood, Trade Republic, and Interactive Brokers have all been Expanding aggressively on the continentprompting existing companies like XTB to expand their product menus to retain customers. XTB reported a record customer flow of 21,500 users in the third quarter of 2025, a figure the company attributed to reduced market volatility rather than competitive pressure, although analysts at the time were less certain.
Stocks hit record high after months of volatility
Tuesday’s stock price move puts XTB at its highest level since the company listed on the Warsaw Stock Exchange in 2016. The stock has been volatile in recent weeks, It fell more than 3% on March 21 After the company published full-year 2025 results which showed that net profit fell by 24.8% to PLN 644.2 million, even as revenue reached a record level of PLN 2.15 billion. Nearly doubling marketing spending to more than PLN 427 million in additional operating costs was the main drag on the bottom line.
Source: Stoq.com website
Noble Securities maintained a “buy” rating on the stock with a price target of 95.70 zlotys as of January, citing expectations of a financial recovery driven by rising trading volatility and an ambitious product roadmap that includes Margin trading and extended market hours 24/5.
In addition to options, the broker said it has also integrated TradingView-powered charts across its mobile platform, allowing clients to access configurable charts, indicators and alerts and place direct orders from the chart view. The web platform version of TradingView charts is currently only available in markets where options trading has been launched, the company said.
Employee incentive plan and dividends are on the agenda
Separately, XTB’s extraordinary general meeting scheduled for May 8 will vote on a new employee incentive program covering all employees, not just senior executives. Under this proposal, 25% of employees with the highest average annual performance ratings will receive bonus shares, provided the company achieves at least 70% of its consolidated net profit target. The shares will vest over three years.
The meeting will also consider authorizing the Board of Directors to buy back up to 80 thousand shares at prices between PLN 50 and 120 each, financed from a reserve of PLN 9 million, to settle obligations under the current MRT incentive program for 2025.
In terms of dividends, XTB’s management recommended distributing PLN 478.5 million from net profits in 2025, or PLN 4.07 per share. Suggested registration date is June 15, with payment due June 24. The company is still awaiting approval from Poland’s financial regulator, the KNF, before it can offer options to Polish clients, and its plans to launch spot trading for cryptocurrencies remain contingent on pending MiCA-related legislation in Poland.
