XTB Expands Options Trading Across Four New European Markets

XTB expands options trading to France, Portugal, the Czech Republic, and Slovakia, growing its European options footprint to seven markets.

Key Points:

• XTB has rolled out American-style options trading across four new European markets,  France, Portugal, the Czech Republic, and Slovakia, bringing its total options footprint to seven countries.
• Polish clients, who form XTB‘s largest customer segment, still cannot access the product as the broker awaits regulatory clearance from Poland’s KNF.

XTB has extended its options trading product to France, Portugal, the Czech Republic, and Slovakia, pushing its European options coverage to seven markets in under two months since the product first launched in Germany and Spain.

The Warsaw-listed broker confirmed on Monday that it now offers American-style options on 110 U.S.-listed stocks and exchange-traded funds across those seven markets. Cyprus came first in January under CySEC supervision, followed by Germany and Spain in April. The four newest countries join that rollout in the latest wave of expansion.

CEO’s Expansion Commitment Takes Shape

The move delivers on a pledge CEO Omar Arnaout made publicly in April, when he stated the company would continue expanding options into additional European markets in the coming months. That Germany-and-Spain launch had already sent XTB‘s share price to record levels at the time.

The options product runs on the company’s xStation platform, integrated with TradingView-powered charts. Traders can configure indicators, access order placement directly from chart view, and use same-day-expiry contracts on select instruments. Notably, the web version of TradingView activates only in markets where options have gone live. The buy-only structure, clients can purchase options but cannot write them, limits revenue potential while reducing downside exposure for retail traders new to derivatives.

France Emerges as the Most Strategically Significant Addition

Among the four new markets, France carries the most strategic weight. XTB launched tax-advantaged PEA investment accounts in France in April 2025 and has since made the country a marketing priority. The firm targeted more than 7 million existing French long-term investment accounts in a market where fewer than 30,000 retail clients actively trade CFDs.

That effort is bearing results. XTB‘s French client base grew 50 percent year-over-year by the end of 2025. Earlier this year, the company signed a sponsorship deal with Paris La Défense Arena, its single largest brand investment in France to date. Options now give the broker an additional product to market alongside stocks, ETFs, and the PEA account wrapper.

The Czech Republic, Slovakia, and Portugal, meanwhile, are established markets where XTB has already rolled out fractional shares, ETF investment plans, and a multi-currency mobile wallet over the past three years. Adding options extends a product suite that is already broader there than in newer markets.

Competitive Pressure Mounts Across Europe

XTB is entering a segment where well-resourced rivals are already entrenched. Interactive Brokers and Saxo Bank have offered full options books to European retail clients for years. IG Group opened a UK waiting list for options under its tastytrade brand last year and has since extended vanilla options to Japanese corporate accounts. U.S. platforms, particularly Robinhood and tastytrade, continue to set the retail benchmark globally.

Beyond options specifically, the broader European retail investment landscape is intensifying. German neobroker Trade Republic, which entered Poland in late 2025, has built its European expansion around bonds, ETFs, and private equity access rather than derivatives. Robinhood, for its part, is pushing venture fund access and crypto products across the continent.

Poland Still Waiting as Home Market Sits Out

Despite the cross-European rollout, XTB‘s largest single market remains without access to options. Polish clients are still waiting for sign-off from the country’s financial regulator, KNF, before the broker can offer the product domestically. Board member Filip Kaczmarzyk first flagged the buy-only approach in October 2025 as a deliberate starting point the company intended to build on over time.

XTB‘s ambitions in Poland extend beyond options. Plans for spot cryptocurrency trading in the country remain similarly stalled, contingent on pending legislation tied to the EU’s MiCA regulatory framework.

Strong Financials Back the Push

The expansion is unfolding against a backdrop of exceptional financial performance. XTB reported first-quarter 2026 net profit of PLN 535 million, a 176 percent year-over-year increase, on operating income of PLN 1.09 billion. The company crossed one million Polish accounts earlier this month and launched a PLN 10.66 million share buyback program.

XTB shares were trading near PLN 110 on Monday, just below the all-time highs reached in early April when the Germany and Spain launch was first announced, a level the company will likely look to surpass as its European options footprint continues to grow.

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