On Tuesday, March 12, XTB, a Polish fintech, enabled investors to exchange currencies between their accounts. This is another innovation that will make investing in foreign markets even more attractive than before.
Polish investors on the XTB platform can maintain accounts in three different currencies – the Polish zloty, the US dollar, and the euro. An account in the domestic currency is most suitable for investing capital in assets quoted in zlotys. However, when implementing Investment Plans related to foreign markets, it is worth considering opening an account in the relevant foreign currency. In this context, clients looked for ways to effectively top up their funds to avoid unnecessary commissions.
Since March 12, every user of the XTB investment platform will be able to exchange currency between their accounts. The new function is available in the Investor’s Room in the “Internal Transfer” tab. To make a re-calculation, you must have at least two investment accounts in different currencies. The limit for one re-calculation is 14,000 EUR. Investors who have several accounts in the same currency will also be able to freely transfer funds between them.
– This is another step towards the democratization of investing. Our aim is to minimize investment barriers for anyone who would like to invest their funds on foreign stock exchanges. Thanks to the introduction of our internal currency exchange, investors will be able to go through the entire process exclusively at XTB, without the need to look for alternative options on the market – says Omar Arnaout, CEO of XTB.
Importantly, currency exchange via XTB can only be associated with later investing of funds on the investment platform. In case of violation of the rules, which are more broadly described in the Regulations of Brokerage Services, XTB may block the user’s ability to use this service.
The free exchange of currencies between accounts is another improvement of investment services introduced by XTB in 2024. In January, the possibility of automatic investing within the framework of Investment Plans was launched. In the following weeks, we can expect novelties which have already been announced, including social services and bond investing.
