Billionaires

Trader Mints $1.2 Billion Fortune as His XTB Brokerage Surges

Jakub Zablocki gave retail investors access to leveraged bets
XTB has attracted clients with heavy spending on marketing

The stock of X-Trade Brokers has rallied almost 70% this year.Photographer: Mateusz Slodkowski/SOPA Images/SIPA Press/AP Photos

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By Konrad Krasuski and Alexander Sazonov

October 23, 2024 at 5:01 AM UTC

This article is for subscribers only.

When former currency trader Jakub Zablocki started X-Trade Brokers Dom Maklerski SA., all he had was seed capital of about $75,000 and a good idea.

Working at Commerzbank AG’s Polish unit, he had witnessed huge demand from customers to trade around the clock — a desire stymied by the nation’s heavily regulated finance industry.