XTB Targets Q4 2025 Options Launch Pending KNF Approval

XTB (WSE: XTB) is targeting a Q4 2025 rollout for its long-awaited options trading product, provided it secures approval from Poland’s financial regulator, the Komisja Nadzoru Finansowego (KNF).

The publicly listed company has been developing the new derivatives feature for months and says it is entering the final stages of internal testing. However, the official launch hinges on the KNF’s green light.

“Technology work is happening alongside talks with the regulator. We’re in regular contact with KNF and believe launching this service in Q4 2025 is realistic, provided we get the appropriate approval,” said Filip Kaczmarzyk, XTB Management Board member, in an interview with Polish financial daily Parkiet.
“We’re starting closed testing with employees in October so the product is refined functionally before we get the green light.”

Options trading joins physical cryptocurrencies among the new product classes XTB has been preparing since 2024, part of its broader strategy to expand and diversify its investment offering.

XTB operates across multiple jurisdictions, and Kaczmarzyk says the broker aims to introduce options using the same unified technology platform deployed for other asset classes. The approach will ensure consistency in user experience across markets while allowing local adaptation to regulatory frameworks.

“Each solution will fit the legal framework in a given market. But technologically, it’ll be one solution, so it looks identical from our clients’ perspective everywhere,” Kaczmarzyk explained.
He added that this strategy helps streamline both product development and marketing operations, improving efficiency across regions.

XTB Targets Q4 2025 Options Launch Pending KNF Approval

While XTB has not confirmed which markets will get access first, Poland is likely to lead the rollout given the ongoing discussions with KNF. The company’s recent hire of Bartosz Osiński, a former KNF employee who joined XTB’s Management Board in August, underscores its focus on regulatory alignment.

Initially, XTB will limit customers to buying options only, not writing them—a risk-conscious strategy aimed at protecting less experienced investors from potentially unlimited losses.

“Options are undoubtedly a product for more experienced investors. But recent years showed we can get Poles—and not only them—interested in investing,” Kaczmarzyk noted.
“As investors gain knowledge and experience, they expect more advanced solutions. In line with our mission to democratize investing, we want to offer new possibilities in an accessible way.”

The broker intends to gradually expand the feature set over time, mirroring how it has developed other product lines such as retirement savings accounts and investment plans across Europe.

Despite strong traction in the United States—where retail platforms like Robinhood have popularized options trading—Europe’s retail derivatives market remains comparatively small. XTB believes interest is still in its early stages.

“From our perspective, options are a very interesting direction. There aren’t many solutions of this type in the market currently. But U.S. examples show it’s a growing trend,” Kaczmarzyk said.
“We’re convinced that peak interest in options in Europe is still ahead.”

Whether KNF will move fast enough to meet the 2025 target remains uncertain. European regulators, including Poland’s watchdog, have adopted a cautious stance toward retail derivatives following past controversies around binary options and CFDs. XTB’s launch will likely depend on satisfying the KNF’s requirements for risk management and investor protection.

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