XTB Launches Social Trading Tool Letting Clients Follow Top Investors

BySamson Ononeme

Mar 28, 2024 ,
XTB has launched a social trading tool that ranks investors based on performance metrics, allowing clients to follow top traders' portfolios and activities.

Key Insights

  • XTB has launched a new “XTB Social” feature allowing clients to follow top investors
  • The tool ranks investors based on an algorithm weighing profitability, diversification and risk
  • XTB Social is currently only available in Poland but the broker plans to expand it to other markets

WARSAW (MarketsXplora) – Online trading platform XTB has rolled out a new social trading feature that allows clients to follow the investment activity and portfolio composition of its top-performing users, part of efforts to enhance engagement.

Called XTB Social, the tool displays a leaderboard ranking investors based on an algorithm weighing factors like portfolio profitability relative to risk, diversification and concentration levels.

Retail clients can use the feature to gain insights into trade histories, statistics and holdings of investors they choose to follow, as well as receive notifications on new transactions.

“Social aims to fill a gap that we perceive in the financial market,” XTB Chief Executive Omar Arnaout told MarketsXplora, citing growing demand for such engagement-driven social functionalities.

“Social is a service that will help our clients develop their own investment strategies,” he added.

The launch marks another step in XTB’s roadmap to roll out new product offerings this year, including recently allowing currency conversions between client accounts and plans for upcoming bond trading.

However, XTB said the social tool differed from typical copy trading platforms by solely focusing on the “social aspect” of following other investors rather than replicating their trading moves.

“We tested Social before its launch… users were most eager to follow their own statistics as well as the results and transactions of their friends,” a company spokesperson said.

For now, XTB Social is only available to clients in Poland but the brokerage said it aims to expand the service to other markets.

The move shows how trading platforms are increasingly incorporating social elements to attract and retain users, particularly among younger demographics preferring interactive investing experiences.

In January, XTB reported 2023 net profit of 791.3 million zlotys ($202 million), helped by a 51% jump in active clients to nearly 312,000 as volatility boosted trading activity.

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