XTB Launches Commission-Free ISAs for UK Investors

XTB launches commission-free ISAs, marking the introduction of stocks and shares Individual Savings Accounts (ISAs) for UK investors, entering the £400 billion market. The new product offers zero-commission trading alongside a competitive 4.75% interest rate on uninvested cash balances. 

This move aligns with XTB’s broader goal of becoming a full-service investment and savings platform, as confirmed by Joshua Raymond, Managing Director of the UK branch. The launch departs from traditional ISA offerings by combining commission-free trading with attractive interest rates on idle funds. 

Raymond emphasized that the company aimed to provide customers with terms that outshine many current ISA options, often with lower interest rates and hidden fees. “ISAs have proved wildly popular since their launch 25 years ago, but too many are underperforming,” Raymond stated, highlighting the new product’s advantages.

XTB began working toward this launch in May by obtaining the necessary licenses to operate within the UK market. Although the product’s release was slightly delayed from its initial autumn target, Raymond explained that the company had taken extra time to ensure a flawless launch. 

XTB Launches Commission-Free ISAs for UK Investors

The new ISA structure allows most clients to trade commission-free, with fees only applying to those with trading volumes over €100,000 per month. Additionally, cash balances earn interest, which is credited monthly based on daily calculations. 

While this launch signals a shift towards passive investments, XTB’s core offering of Contracts for Difference (CFDs), which currently generates 98% of its revenue, remains a key part of its business strategy. Raymond noted that the ISA would complement, rather than overshadow, the company’s CFD offerings. 

XTB’s expansion also includes a multi-currency card and Individual Retirement Accounts (IKE) for Polish investors. Despite its recent growth, the company is still looking to add bonds to its product range and will reveal its 2025 strategy early next year. The fintech firm, which serves over 1.2 million clients globally, recently reported a significant increase in revenue and net profit for Q3 2024, signaling that its product expansions are paying off.

Getting to Know the Stock Broker 

• XTB is a top global brokerage for Forex and CFDs. 
• The FCA and KNF regulate it. 
• Known for reliability and excellent customer support. 
• Also, it offers extensive educational resources and research. 

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