XTB Awaits KNF Approval to Launch Options Trading

XTB races for KNF approval to launch options trading by late 2025, aiming to expand advanced investing access.

Key Points:

• XTB aims to launch options trading by the end of 2025, but the rollout depends on securing approval from Poland’s financial regulator, the Komisja Nadzoru Finansowego (KNF).
• The broker will start with a buy-only model to limit risk for retail investors, while developing a unified technology platform adaptable across all its markets.

XTB (WSE: XTB) is accelerating its push to introduce options trading before the end of 2025, but the timeline depends on receiving approval from Poland’s financial regulator, the Komisja Nadzoru Finansowego (KNF).

The publicly listed broker has spent months developing the new derivatives product and now views a fourth-quarter rollout as realistic. However, the company must secure regulatory clearance before it can proceed.

“Technology work is happening alongside talks with the regulator. We regularly contact KNF and believe we can realistically launch this service in Q4 2025 once we receive the necessary approval,” said Filip Kaczmarzyk, XTB Management Board member, in an interview. “We will start closed testing with employees in October to refine the product’s functionality before we receive the green light.

XTB first announced plans to add options and physical cryptocurrencies to its product lineup last year. The company aims to maintain a unified technology platform across markets while adapting to local regulations.

“We’ll work similarly to other products,” Kaczmarzyk explained. “Each solution will fit the legal framework in a given market, but technologically it will be one solution, so it looks identical from our clients’ perspective everywhere.”

XTB Awaits KNF Approval to Launch Options Trading

To strengthen its regulatory strategy, XTB recently hired former KNF employee Bartosz Osiński to its Management Board, signaling its commitment to compliance and transparent communication with supervisors.

At launch, XTB plans to offer a buy-only model, allowing clients to purchase options but not write them. The company believes this conservative approach will reduce downside risks, particularly for retail investors new to derivatives.

“Options are undoubtedly a product for more experienced investors,” Kaczmarzyk noted. “But as investors gain knowledge and experience, they expect more advanced solutions. Our mission is to democratize investing and show clients new possibilities in an accessible way.”

Over time, XTB expects to expand its offering, potentially introducing more advanced trading features once the market and regulators demonstrate comfort with the initial rollout.

While options trading has exploded in popularity among U.S. retail investors, Europe’s market remains small but promising. XTB sees the gap as a long-term growth opportunity.

“From our perspective, options are a very interesting direction,” Kaczmarzyk said. “There aren’t many available solutions in Europe, but examples from the American market show this is becoming increasingly popular. We’re convinced the peak of interest in options in Europe is still ahead.”

XTB currently serves nearly 1.7 million clients worldwide and recently launched a marketing campaign spanning 13 countries across four continents, underscoring its ambitions to expand its global footprint.

Whether the KNF will move quickly enough to allow a 2025 launch remains uncertain. European regulators have taken a cautious stance toward retail derivatives following past controversies involving binary options and aggressive CFD marketing. KNF is expected to closely examine XTB’s risk management and client protection systems before granting final approval.

If successful, XTB’s expansion into options could mark a new chapter in Poland’s retail investment landscape—one where regulated access to advanced trading tools becomes part of the mainstream investing experience.

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