XTB, a leading Polish brokerage firm specializing in retail forex and CFD trading, has announced its continued operation in Spain despite stricter regulations on CFD marketing and trading.
The company emphasized its commitment to complying with the guidelines set forth by the Spanish financial regulator, CNMV.
XTB acknowledged that the new regulations, which prohibit CFD advertising and restrict certain marketing practices, will likely impact the company’s client acquisition and revenue in the Spanish market.
However, the firm remains optimistic, citing its minimal advertising activities in Spain for the past two years and the relatively small contribution of Spanish revenues to the overall group’s consolidated revenues.
The company has taken immediate action to adjust its marketing strategies in compliance with the CNMV guidelines and is actively working on cost optimization measures.
While the long-term effects of the regulations remain uncertain, XTB expressed confidence in its ability to navigate the evolving regulatory landscape and maintain its presence in the Spanish market.
