Poland based Retail FX and CFDs broker X Trade Brokers Dom Maklerski SA (WSE:XTB), which operates the XTB.com brand as well as X Open Hub, has announced that its South Africa subsidiary XTB Africa (Pty) Ltd is now licensed to operate in South Africa.

The Management Board of XTB said that, to the best knowledge of the company, on August 10, 2021, XTB Africa (Pty) Ltd received a license from the FSCA (Financial Sector Conduct Authority) to operate in South Africa.

We had reported back in April that international expansion, and specifically starting operational activities in the United Arab Emirates (UAE) and South Africa, were key goals for XTB during 2021. XTB received its UAE license earlier this summer.

Company management said that obtaining a license in South Africa is another step in the international geographical expansion of the XTB.com brand, as part of its overall development strategy, leading to building a global brand.

XTB shares have recovered somewhat from their 25% fall in late July, after the company reported disappointing results for Q2, including a 70% QoQ revenue drop.

XTB share price chart, past 6 months. Source: Google Finance.