XTB’s Revenue Rises 10% YoY in 2023

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XTB has released preliminary financial results for
2023, highlighting a surge of 51% in active clients, which increased by
311,971. XTB defied market volatility and inflationary pressures to post a 3%
year-over-year at PLN 791.3 million.

The CFDs brokerage giant reported a boost of 10% YoY in revenue, reaching PLN 1,588.2 million. The driving forces behind
this surge were the heightened volatility in financial and commodity markets
and a substantial uptick in active clients.

The number of XTB‘s CFD contracts concluded in lots rose
by 16.5% YoY, contributing to a transaction volume of 7,416.5 thousand lots.
Notably, the profitability per lot stood at PLN 214, slightly lower than the
previous year’s PLN 227.

The fourth quarter of 2023 stood out with a
staggering 127.7% YoY increase in revenues, totaling PLN 493.6 million. This
surge was fueled by higher profitability per lot and increased client turnover,
especially in CFD instruments. The quarter witnessed distinct trends,
influencing a substantial rise in revenue.

Examining revenue sources, CFDs based on indices
took the lead, constituting 47.8% of total revenues. Commodities followed
closely at 39.9%, while currency-based CFDs accounted for 10.1%. This shift in
revenue distribution reflected the profitability of instruments tied to indices
like the US 100, German DAX, and US 500, as well as commodities such as natural
gas, gold, and oil.

Operating costs in 2023 amounted to PLN 693.6
million, witnessing a notable increase of PLN 135.0 million from the previous
year. This rise was primarily attributed to increased remuneration, marketing
expenses, and external services. Despite these costs, XTB’s client base
flourished, reaching a record-breaking 311,971 new clients, a 58.5% increase
from the previous year.

XTB Eyes Social Trading

XTB’s commitment to enhancing client experience was
evident through the introduction of fractional shares, enabling investment in
selected markets at a fraction of the price. Another noteworthy feature
introduced in November 2023 was interest on free funds in client accounts,
supporting daily account growth for currencies like PLN, EUR, USD, GBP, CZK,
and RON.

In 2024, XTB’s objectives include the introduction
of social trading, offering clients the opportunity to follow and learn from
other users’ investment strategies. The Board aims to acquire 65-90 thousand
new clients per quarter, with a strong start in January, acquiring 27.3
thousand new clients.

This innovative offering will empower clients with
instant local payments , transfers, card transactions, and currency exchange,
facilitating real-time finance control and expense management.

Participate in Our Fraud Survey: Your Opinion Matters!

We invite you to participate in our joint survey conducted
by FXStreet and Finance Magnates Group, which explores prevalent online
financial fraud types, platforms used for fraudulent activities, effectiveness
of countermeasures, and challenges faced by companies in tackling such fraud. Your
valuable insights will help inform future strategies and resource allocation in
combating financial fraud.

Social Media Scams: Help Shape the Fight with Your 2024 Survey Participation

XTB has released preliminary financial results for
2023, highlighting a surge of 51% in active clients, which increased by
311,971. XTB defied market volatility and inflationary pressures to post a 3%
year-over-year at PLN 791.3 million.

The CFDs brokerage giant reported a boost of 10% YoY in revenue, reaching PLN 1,588.2 million. The driving forces behind
this surge were the heightened volatility in financial and commodity markets
and a substantial uptick in active clients.

The number of XTB‘s CFD contracts concluded in lots rose
by 16.5% YoY, contributing to a transaction volume of 7,416.5 thousand lots.
Notably, the profitability per lot stood at PLN 214, slightly lower than the
previous year’s PLN 227.

The fourth quarter of 2023 stood out with a
staggering 127.7% YoY increase in revenues, totaling PLN 493.6 million. This
surge was fueled by higher profitability per lot and increased client turnover,
especially in CFD instruments. The quarter witnessed distinct trends,
influencing a substantial rise in revenue.

Examining revenue sources, CFDs based on indices
took the lead, constituting 47.8% of total revenues. Commodities followed
closely at 39.9%, while currency-based CFDs accounted for 10.1%. This shift in
revenue distribution reflected the profitability of instruments tied to indices
like the US 100, German DAX, and US 500, as well as commodities such as natural
gas, gold, and oil.

Operating costs in 2023 amounted to PLN 693.6
million, witnessing a notable increase of PLN 135.0 million from the previous
year. This rise was primarily attributed to increased remuneration, marketing
expenses, and external services. Despite these costs, XTB’s client base
flourished, reaching a record-breaking 311,971 new clients, a 58.5% increase
from the previous year.

XTB Eyes Social Trading

XTB’s commitment to enhancing client experience was
evident through the introduction of fractional shares, enabling investment in
selected markets at a fraction of the price. Another noteworthy feature
introduced in November 2023 was interest on free funds in client accounts,
supporting daily account growth for currencies like PLN, EUR, USD, GBP, CZK,
and RON.

In 2024, XTB’s objectives include the introduction
of social trading, offering clients the opportunity to follow and learn from
other users’ investment strategies. The Board aims to acquire 65-90 thousand
new clients per quarter, with a strong start in January, acquiring 27.3
thousand new clients.

This innovative offering will empower clients with
instant local payments , transfers, card transactions, and currency exchange,
facilitating real-time finance control and expense management.

Participate in Our Fraud Survey: Your Opinion Matters!

We invite you to participate in our joint survey conducted
by FXStreet and Finance Magnates Group, which explores prevalent online
financial fraud types, platforms used for fraudulent activities, effectiveness
of countermeasures, and challenges faced by companies in tackling such fraud. Your
valuable insights will help inform future strategies and resource allocation in
combating financial fraud.

Social Media Scams: Help Shape the Fight with Your 2024 Survey Participation

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