On March 15, 2017, the Court of Appeal in Warsaw granted X-Trade Brokers DM S.A. the security order under which the Cyprus based company XTrade Europe Ltd, with its registered seat in Limassol, has been banned from using the following word marks and word-figurative marks: “XTB”, “X-Trade”, “XTrade” and “X”, the mark: xtrade.eu in connection with the provision and promotion of financial services, brokerage and financial advisory services, and brokerage services, including Internet-based services, specialized computer software, financial advisory services and training.
The ruling is a result of a dispute between the XTB Brokerage House and XTrade Europe Ltd over acts of unfair competition. The court had no doubts that XTrade’s activity is competitive to the XTB’s and constitutes a threat to XTB’s interests.
The XTB Brokerage House has substantiated that the activities of XTrade Europe Ltd are permanent and regular, because for several consecutive years, providing the same services, on the same market as the XTB, has been using misleading information concerning the identity of the entity. In the Court’s view, the evidence provided by the XTB clearly shows that an unlimited number of customers have been misleading for years, and still can be mislead as to the identity of the entity who provides services, because of the indications used by XTrade Europe Ltd such as: “XTAB”, “X-Trade”, “XTrade”, “X” and “xtrade.eu”.
