Discover XTB new social trading feature, enabling investors to follow top performers and manage portfolios.
Discover XTB new social trading feature, enabling investors to follow top performers and manage portfolios.
XTB has shared a new social trading feature enabling users to track top investors and view their portfolios. This move marks a significant step forward for the company in enhancing user engagement and expanding its service offerings.
Named ‘XTB Social,’ the new feature enables users to follow the most successful investors, review their investment statistics. Furthermore, users will receive personalized notifications about transactions made by the investors they follow.
In a recent interview with Finance Magnates, XTB revealed that the development of this feature stemmed from a desire to meet user expectations for social features while also providing the ability to track other users’ investments. Omar Arnaout, the CEO of XTB, emphasized the growing popularity of social engagement within the financial market and highlighted the gap that XTB Social aims to fill.
An algorithm within XTB Social determines the leaderboard ranking based on portfolio profitability, risk, diversification, and concentration. This ensures that users can make informed decisions when following investors. XTB Social is being launched in Poland initially, with plans to expand into other markets soon. The company aims to provide a platform for users to develop their investment strategies while fostering a sense of community among its client base.
Notably, XTB clarified that its social trading feature is distinct from copy trading, with a focus on original ideas and proprietary technology. The company’s decision to resist introducing social trading until now reflects its commitment to offering a unique and differentiated service to its clients. The introduction of XTB Social follows the recent partnership between XTB and BlackRock, signaling the company’s strategic focus on expanding its product offerings and promoting passive investments, including ETFs.
XTB has also confirmed its financial performance for 2023, revealing a significant increase in active clients and net profit. With the launch of XTB Social, the company continues to demonstrate its commitment to innovation and meet the evolving needs of its user base in the dynamic landscape of fintech and online trading.
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