XTB MENA, the brand under which Polish broker XTB is operating from Dubai, has extended its offering to clients by adding cryptocurrency contracts for differences (CFDs) instruments.
The new trading instruments have already been listed on the trading platform on Thursday. But, it is only available on the broker’s xStation trading platform, not on the third-party MetaTrader 4 platform it also offers.
Initially, the trading platform has listed trading services with the CFDs of 19 cryptocurrencies that include major ones like Bitcoin, Ethereum, Cardano, EOS and Binance Coin. However, the offering list looks to have been prepared by the popularity of certain cryptocurrencies as it also added Dogecoin, a meme-based token.
Though the platform is offering a margin of either 20 or 25 percent to most of the listed crypto CFDs, it is not offering any leverage to some of the volatile for some of the volatile cryptos like Terra.
A Global Broker
Headquartered in Poland, XTB is one of the very few publicly listed forex and CFDs brokers. It gained a license from the Dubai Financial Services Authority (DFSA) in July 2021 and launched the Middle East and North Africa-specific services in the following October.
The offered services under the MENA operations are similar to XTBs offerings to its European or other global clients.
Being a public company, XTB is obliged to publish its performance metrics at regular intervals, making it one of the few transparent brokers as well. Finance Magnates earlier reported that the broker ended 2021 with a solid 135.6 percent surge in its operating income, along with a 183.7 percent yearly increase in net profit.
Meanwhile, MENA has become a focused market for brokers because of the region's growing interest in trading. Furthermore, several other platforms, like Amana Capital, Capex.com and TopFX, have strengthened their presence in the region with rampant hirings.
