XTB sharesrose more than 2% on Tuesday to test 97.97 zlotys on the Warsaw Stock Exchange,eclipsing the previous all-time high of 96.94 zlotys recorded on March 10, asthe Polish online broker announced the rollout of options trading in Germanyand Spain.The companysaid clients in both markets can now trade American-style options on 110U.S.-listed stocks and exchange-traded funds, including zero-days-to-expirationcontracts, or 0DTE, on select underlying instruments. Fractional optionstrading is also available, the firm said in a press release on Tuesday.Germany andSpain rank among XTB's most important European markets. The launch follows a first rollout in Cyprus earlier thisyear, where XTBused its CySEC-supervised entity to test the product with a limited client basebefore expanding to larger jurisdictions. In the largest market, its home base of Poland, customers still have to wait for the offer.Spain'sCFD Curbs Add Context to the Options PushThe Spanishexpansion is particularly notable. Since 2024, Spain's market regulator CNMVhas enforced strict restrictions on CFDadvertising and marketing aimed at retail investors, effectively barring brokers from promotingtheir core leveraged products in the country. The rules ban sponsorship, use ofpublic figures, and web-based promotional content related to CFDs, thoughtrading itself remains permitted at the client's initiative.For XTB,whose revenue still depends heavily on CFD activity, the ability to offeroptions in Spain gives the broker an alternative product to market to localclients without running into the CNMV's CFD advertising restrictions. XTBpreviously said the Spanish market accounts for roughly 10% of its revenue."Data on the growing popularity of options trading in the United States clearly show that these are instruments gaining importance among individual investors," CEO Omar Arnaout said in the company's press release.[#highlighted-links#] "For years, they were associated with complex solutions for professionals, but technological development and easier access to knowledge have meant that more and more investors treat options as a tool to implement their investment strategies." He added that the broker will "continue expanding options to additional European markets in the coming months."EuropeanBrokers Race to Add Options for Retail ClientsXTB is notthe only European-focused broker moving into retail options. IG Group, theLondon-listed trading platform, opened a waiting list for UK optionstrading under itstastytrade brand in late 2025, and its Japanese arm recently extended vanilla options access tocorporate accounts.Interactive Brokers and Saxo Bank have offered options products across Europeanmarkets for years, giving them a head start in a segment that has beendominated by U.S. platforms like Robinhood and tastytrade.What setsXTB's approach apart, at least for now, is that clients can only buy options,not write them. That limits the downside risk for retail traders who may beunfamiliar with derivatives, though it also caps the product's revenuepotential compared to full options books. The company discussed this buy-only approach as early as October 2025, whenboard member Filip Kaczmarzyk told Polish financial daily Parkiet that thebroker planned to start with a stripped-down version and expand functionalityover time.The broadertrend reflects a European retail market that is growing more competitive by thequarter. Robinhood, Trade Republic, and Interactive Brokers have all been expanding aggressively on thecontinent, pushingincumbents like XTB to broaden their product menus to retain clients. XTBreported a record client outflow of 21,500 users in the third quarter of 2025,a figure the company attributed to low market volatility rather thancompetitive pressure, though analysts at the time were less certain.StockHits Record After Months of VolatilityTuesday'sshare price move puts XTB at its highest level since the company listed on theWarsaw Stock Exchange in 2016. The stock had been volatile in recent weeks, falling more than 3% on March 21 after the firm published full-year2025 results showing that net profit declined 24.8% to PLN 644.2 million, evenas revenue hit a record PLN 2.15 billion. A near-doubling of marketing spend toover PLN 427 million in additional operating costs was the main drag on thebottom line.NobleSecurities had maintained a "buy" rating on the stock with a pricetarget of 95.70 zlotys as of January, citing expectations of a financialrebound driven by higher trading volatility and an ambitious product roadmapthat includes margin trading and 24/5 extendedmarket hours.Beyondoptions, the broker said it has also integrated TradingView-powered chartingacross its mobile platform, giving clients access to configurable charts,indicators, alerts, and direct order placement from the chart view. The webplatform version of TradingView charts is currently available only in marketswhere options trading has launched, the company said.EmployeeIncentive Plan and Dividend on the AgendaSeparately,XTB's extraordinary general meeting scheduled for May 8 will vote on a newemployee incentive program covering all staff, not just senior executives.Under the proposal, 25% of employees with the highest average annualperformance ratings would receive bonus shares, provided the company hits atleast 70% of its consolidated net profit target. The shares would vest overthree years.The meetingwill also consider authorizing the management board to repurchase up to 80,000shares at prices between 50 and 120 zlotys each, funded by a PLN 9 millionreserve, to settle obligations under the existing MRT incentive program for2025.On thedividend front, XTB's management has recommended distributing PLN 478.5 millionfrom 2025 net profit, or PLN 4.07 per share. The proposed record date is June15, with payment on June 24. The company still awaits approval from Poland'sfinancial regulator, KNF, before it can offer options to Polish clients, andits plans to launch spot cryptocurrency trading remain contingent on pendingMiCA-related legislation in Poland.This article was written by Damian Chmiel at www.financemagnates.com.