FX and CFDs brokerage XTrade was defeated in April in a legal fight over a disputed brand name in Poland, as the X-Trade Brokers (XTB), whose shares are listed on the Warsaw Stock Exchange, filed a lawsuit claiming the name is too similar to XTB’s trademarked name. Now XTB won once again in a German court.
It’s all about similarities between trade names used by both companies. “X-Trade Brokers” is a sign which have been used by Polish broker in Germany since 2009. The court has confirmed that sign of Cyprius broker is considered as confusingly similar, taking the dominant elements “X-Trade” vs. “XTRADE”.
The company further claims that customers have also been left confused as logos and other marketing materials used by Cyprius broker are similar to those of XTB. The Polish broker believes that the confusion is misleading as to its identity and is causing irreparable damage to its business.
The court issued an injunction (for Germany only) regarding use of both XTRADE and XTRADE EUROPE Ltd. Further, the adverse party is obliged to provide information about the extent and amount of past use and to pay damages (the amount of which is not yet specified).”