XTB, the fairly large European online broker, expects to grow at an annual rate of between 20% and 25% over the next three years and set its sights on several Latin American countries such as Chile, Argentina, Mexico and Colombia through White Labels and franchices.
Currently, XTB operates in 11 countries and is present among other directly or indirectly in Poland, UK, China, India, Ukraine and Spain, its goal is to be among the largest Latin American online brokers.
The broker can operate in commodities markets, currencies and shares through contracts for difference (CFD) and is preparing the system to operate directly in stocks. “In a year we will have all products. In particularly we are focused on developing equities, we have the same business model in all countries where we operate, with the same prices and products. ”
To begin operating in a country, the company conducts an analysis to see how many people are interested in the business, “as long as they can develop the business, there are countries like Brazil that do not allow it.”
Its customers are mostly men, between 30 and 40, upper-middle class with average deposits of $ 7,000 (compared to $ 3,000 a few years ago). At first, its investors preferred fx day trading but lately increased their commodities trading and often hold portfolios over longer periods.
XTB does not charge for CFD trading. The company highlights in its training that the profit to investors comes from the difference between the purchase price and the sale which improves client attrition rates.
Forexmagnates team compiled a detailed report on the status of FX in Latin America , You can see a preview here. Please contact us at report@forexmagnates.com for a quote.
