XTB Launches UK Cash ISA With 6% Intro Rate

XTB launches UK Cash ISA with 6% rate, challenging major fintech rivals in an increasingly competitive savings landscape.

Key Points:

• XTB launched a UK Cash ISA with a 6% introductory AER, challenging savings-focused fintech rivals including Trading 212, Plum and eToro.
• The new product completes XTB’s UK ISA suite and intensifies competition in a market where platforms are vying for customers with promotional savings rates.

XTB expanded its UK offering this week by launching a Cash ISA, moving further beyond its derivatives-broker origins and positioning itself directly against savings-focused fintechs such as Trading 212, Plum and eToro. The company paired the launch with a 6% AER introductory rate for new customers who open accounts before the end of April. The enhanced rate, which includes a two-percentage-point bonus above the standard 4% variable rate, applies for 90 days on balances up to £40,000 across eligible accounts.

XTB Launches UK Cash ISA With 6% Intro Rate

The Cash ISA completes XTB’s UK ISA suite following the rollout of its Stocks & Shares ISA in December 2024. The new product allows tax-free deposits of up to £20,000 per tax year and operates as a flexible ISA, enabling withdrawals and replacements within the same tax year without affecting the annual allowance. The account has no fees, requires only a £10 minimum deposit, and holds client funds in segregated Tier 1 bank accounts with FSCS protection up to £120,000.

Joshua Raymond emphasised the timing of the launch as markets continue to price in potential rate cuts from the Bank of England. XTB aims to position the product as an option for savers seeking to secure higher returns before rates potentially fall.

The new offer enters a crowded field where competitors emphasise promotional rates. Trading 212 provides 4.4% for new customers through a 12-month bonus. Plum and Moneybox both offer 4.32%, although Moneybox reduces rates sharply if customers exceed withdrawal limits. eToro, which entered the Cash ISA space through its partnership with Moneyfarm, pays 3.67% AER.

The launch arrives amid wider industry debate. IG Group has criticised Cash ISAs for diverting capital from UK equities, while XTB continues to build products that blend saving and investing within a single platform.

The broader UK retail investment market is intensifying. Robinhood entered the UK in February, expanding competition as research indicates rising interest in regular investing among adults in 2026.

XTB’s latest product aims to capture a greater share of customer assets by offering both savings and investment tools within one ecosystem. Whether the 90-day promotional rate provides lasting appeal will now be tested.

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