XTB Reports Record Client Growth as Retail Trading Platform Expands Product Range

Warsaw listed online trading platform XTB has reported substantial growth in 2024, with nearly half a million new clients joining the platform and revenues climbing 21.8 percent to EUR 435.3 million, as retail investors continued to seek investment opportunities amid persistent inflation and low interest rates.

The Poland-based fintech company attracted 498,400 new clients last year, representing a 59.8 percent increase from 2023. This expansion brought XTB's total client base to 1.36 million by year-end, with active customers rising to 658,500 from 408,500 the previous year.

The expansion comes as  XTB has introduced features such as auto-investing in Investment Plans, IKE accounts in Poland, ISA accounts in the UK, and an eWallet with a multi-currency card during 2024.

Net profit for 2024 reached EUR 199.7 million, up 14.3 percent from EUR 174.7 million in 2023, despite higher operating costs of EUR 205.3 million driven by increased marketing expenditure and technology development investments.

Omar Arnaout, CEO of XTB, highlighted the significance of this growth: "2024 has been a landmark year for XTB. I'm particularly excited about the significant growth in new clients, especially active investors, who are vital for our future success. We've welcomed nearly half a million new investors, thanks to our diverse product offerings and effective marketing strategies. Remarkably, about 80 percent of these clients start investing in shares and ETFs, suggesting strong long-term loyalty."

The company's revenue structure showed a shift in trading patterns, with commodity-based CFDs generating 48 percent of revenues, primarily from gold, natural gas, and cocoa trading instruments. Index-based CFDs contributed 33.3 percent, down from 47.8 percent in 2023, while currency CFDs accounted for 14.6 percent of revenue.

Traditional investment products gained prominence, with share and ETF trading volume rising 138 percent to USD 3.1 billion. These instruments now represent 4.1 percent of XTB's revenue, nearly double the 2.2 percent recorded in 2023. Net deposits increased by 127 percent to PLN 8.61 billion.

Looking ahead, XTB aims to attract between 150,000 and 210,000 new clients quarterly throughout 2025. The company plans to enhance its product range with new offerings including options trading and cryptocurrency services, subject to regulatory approvals. Geographic expansion continues with preparations for market entry in Brazil and operations scheduled to begin in Indonesia in the first half of 2025.

Arnaout outlined the company's strategic direction: “Our product plans respond to the dynamic changes in the world of finance and the needs of investors. We are continually developing the XTB application to provide users with a highly functional and comprehensive financial management platform. These new solutions bring us closer to becoming a European leader in the industry. Expanding our offerings and enhancing their competitiveness also pave the way for further growth in markets with significant business development potential, such as the Middle East, Latin America, and Indonesia.”

The full results presentation for Q3 2024 can be viewed here.

X Open Hub is the institutional subsidiary of XTB.