XTB reported preliminary financial results for the third quarter of 2025:
XTB’s business strategy focuses on dynamically growing the client base and reaching new target audiences. In September, the largest marketing campaign in history was launched across three continents. The increase in the efficiency of marketing activities is noteworthy. Despite a significantly larger scale of promotional efforts, there was a decrease in the average cost of acquiring a client, which amounted to 149 EUR in the third quarter. In contrast, over the last five quarters, it averaged 169 EUR.
In Q3 2025, XTB acquired a record of over 221 thousand new clients (+105.1% y/y) and the total number of clients surpassed 2 mln in October. The number of active customers also increased significantly, reaching a record level of close to 920 thousand, which means an increase of 75.9% year-on-year.
We have just completed the best quarter in history in terms of the number of new clients acquired and the number of active investors. October was also record-breaking in this regard, with nearly 96,000 people joining our client base in just the first twenty-seven days of the month. This result is particularly impressive considering that, despite a significantly larger scale of promotional activities, we increased the efficiency of acquiring new clients. This is important given that we are talking about a period when the financial markets were relatively calm. Therefore, I am convinced that in times of greater volatility, we will be able to appropriately leverage the potential of our client base, which should translate into a significant improvement in financial results, commented Paweł Szejko, CFO and XTB Board Member.
In the third quarter of 2025, XTB clients were actively investing in shares and exchange-traded products (ETPs), including ETFs. Year-over-year, trading in these instruments surged by 147.7%, reaching a total of USD 5.95 billion.
In the third quarter of 2025, contracts for difference (CFDs) on commodities made up 48.5% of total revenue, driven by gold, natural gas, and cocoa transactions. CFDs based on indices accounted for 32.4% of revenue, down from 44.9% in the previous year, largely due to the US 100, US 500, and VIX indices. Currency-based CFDs represented 10.8% of revenue, a decline from 14.6% last year, with cryptocurrencies like Ethereum, Bitcoin, and Ripple being the most profitable in this category
INet deposits totaled EUR 757.3 million, reflecting a significant 43.0% increase from the previous year, as clients capitalized on interest from their idle funds.
XTB is strengthening its market position and rapidly expanding its customer base by making significant progress in non-European markets. The local XTB subsidiary in Indonesia has already acquired its first clients by offering stocks and ETFs and plans to introduce CFD instruments by the end of 2025 or early 2026.
The XTB team is also focused on preparing to include cryptocurrencies in its offerings. This addition is closely linked to the completion of the legislative process in Poland concerning the enactment of a law that aligns Polish regulations with the Markets in Crypto-Assets Regulation (MiCA). While awaiting this process, XTB is developing the necessary legal documents and implementing technological changes to enable the integration of crypto-assets.
Additionally, the company is working on introducing options to its offerings, which is contingent on the acceptance of the option pricing model by the Polish Financial Supervision Commission, and this process is currently underway.
XTB reported preliminary financial results for the first half of 2025:
XTB is thriving in its strategic development, evolving into an investment super app where clients’ money can work in multiple ways. By expanding its client base and actively attracting diverse groups of investors, it is not only enhancing accessibility to investment opportunities but also shaping the future landscape of investing.
We dispelled the myth that the second quarter is inherently weaker than the others by expanding our client base and enhancing our global brand. The past half of the year has been busy as we launched new products aimed at empowering investors in Poland and France to embrace long-term investing, while also continuing our marketing campaigns and expanding our footprint in Hungary and Chile, comments Omar Arnaout, CEO of XTB. I am particularly pleased with the increase in new clients and their active investment activities. This trend indicates that we are effectively reaching new demographics seeking efficient ways to invest their money. The growing number of clients will serve as a solid foundation for our development in the coming years, and we will continue to prioritize this area, adds Arnaout.
In the first half of 2025, contracts for difference (CFDs) based on indices accounted for 46.3% of revenue, up from 37.2% the previous year. This increase was driven by transactions linked to the US 100, German DAX (DE40), and US 500 indices. CFDs based on commodities contributed 33.1% of revenue, down from 48.2% in the first half of 2024, primarily due to the performance of gold, crude oil, natural gas, and coffee. CFDs based on currencies made up 15.6% of revenues, rising from 10.3% last year, with the EUR/USD pair and Bitcoin being the most profitable instruments in this category.
In the first half of 2025, XTB clients were actively investing in shares and exchange-traded products (ETPs), including ETFs. Year-over-year, trading in these instruments surged by 118.6%, reaching a total of USD 8.8 billion.
In the first half of the year, EU clients conducted over 21 million transactions involving shares, exchange-traded products (including ETFs), and investment plans. In comparison, the total number of transactions in these asset classes for the entire year of 2024 reached 27 million. Almost 80% of the initial transactions made by new XTB clients in H1 2025 also focused on these asset classes.
Net deposits totaled EUR 1.7 billion, reflecting a significant 94% increase from the previous year, as clients capitalized on interest from their idle funds.
At the close of the first half of 2025, XTB client assets totaled EUR 8.46 billion. Of this amount, approximately EUR 4.5 billion represented the nominal value of instruments held by clients in their accounts, including stocks and ETPs. Nearly EUR 1.1 billion consisted of client funds, while approximately EUR 2.9 billion was the nominal value of CFD instruments.
In H1 2025, XTB acquired a record of over 361 thousand new clients (+55.7% y/y). At the end of June 2025, a total of 1.7 million clients invested via the XTB app and web platform, compared to 1.1 million at the end of H1 2024. In turn, between July 1 and 30, 2025, another 61.9 thousand new investors joined XTB’s client base. The number of active customers also increased significantly, reaching a record level of 853.9 thousand, which means an increase of 69.9% year-on-year.
In 2025, XTB aims to further expand its offerings for individuals looking to make their money work, both actively and passively. The company is pursuing the development of necessary legal documents and technological advancements to introduce options and cryptocurrency trading to its portfolio. The implementation of this year’s product plan depends on many external factors and is closely tied to the completion of the regulatory process related to the implementation of the MiCA regulation in Poland.
In addition to ongoing product development, XTB is making significant investments in technological security, with the budget for the security department increasing by 48% over the past year. These investments focus on acquiring software, security services, and hiring specialists.
We recognize that online fraud is a serious threat in today’s digital landscape, which is why we offer investors protective tools and actively participate in cybersecurity education, comments Omar Arnaout, CEO of XTB.
To date, XTB has completed numerous initiatives aimed at enhancing account security, including strengthening two-factor authentication (2FA) by introducing an additional authentication method: Time-Based One-Time Passwords (TOTP). This involves generating one-time codes using apps such as Google Authenticator, Microsoft Authenticator, and Apple Passwords. Recently, the company also began the process of mandating 2FA for users across multiple countries.
XTB is solidifying its strong market position and rapidly expanding customer base by making significant strides into non-European markets. The company is consistently implementing its strategy to establish a global brand. With the recent acquisition of a securities agent license in Chile, XTB can now offer local clients access to European and U.S. shares, along with ETP funds. Additionally, the company is preparing a marketing campaign targeting clients in Indonesia to promote its diverse selection of stocks and ETFs.
