In recent years, there has been a remarkable increase in interest in investing and the capital market in Poland. Since 2020, the growth rate of new brokerage accounts has significantly accelerated. This trend highlights that people in Poland are eager to put their money to work, leading to a rise in individual investments in financial markets. At the end of April, the total number of brokerage accounts in Poland had surpassed 2.1 million.
For years, XTB has been dedicated to developing a comprehensive investment application that offers investors numerous opportunities to grow their assets. The results from the 2024 National Investor Survey suggest that XTB excels in several areas, including: high-quality service, a reliable and functional investment application, broad access to foreign markets, timely information and quotes, as well as a robust educational program.
>> In the first quarter of 2025, XTB experienced significant growth, gaining over 194 thousand new investors, a 49.8% increase year-on-year. At the end of March 2025,XTB reached a total of 1.54 million customers.
>> Active customers also hit a record 735,300, up 76.5% from 416,600 at the end of Q1
2024.
>> Consolidated revenues reached a record level of EUR 138.7 million, a 7.8% increase
year-on-year.
>> Net profit was EUR 46.3 million, compared to EUR 70.1 million last year. In line with expectations, operating costs rose to EUR 75.5 million.
XTB successfully implements its development strategy, the priority of which is to expand its client base and reach new investor groups. The systematically growing number of active clients, combined with their increased transaction activity, translated into a record level of operating income, which amounted to EUR 138.7 m (+7,8% y-o-y) in Q1 2025. Consolidated net profit amounted to EUR 46.3 m (compared to EUR 70.1 m a year before) with the operating costs growing, as announced, at the level of EUR 75.5 m. The increased level of costs resulted mainly from higher expenditure on marketing campaigns, higher costs of salaries and employee benefits related to the increase in employment, and higher commission costs resulting from higher amounts paid to payment service providers through which clients deposit their funds in transaction accounts at XTB.
“The first quarter of 2025 was successful for XTB in terms of expanding our client base and strengthening our global brand, aligning well with the key goals of our development strategy. I am particularly pleased with the increase in new clients and their active investment activities. This indicates that we can effectively reach new client demographics who are more engaged in their investments during periods of market volatility. The growing number of clients serves as the foundation for our development in the coming years, and we will continue to prioritize this area” – comments Omar Arnaout, CEO of XTB.
Analyzing XTB’s Q1 2025 revenue by instrument classes, it is evident that CFDs based on indices garnered the largest share at 52.3%. This category particularly included the German DAX (DE40) stock index, as well as the American US 100 and US 500 indices. The second most profitable asset class was CFDs based on commodities, which included natural gas, gold, and coffee price quotations, accounting for 29.1% of total revenue (vs. 48.7% the previous year). CFDs based on currencies represented 13.5% of revenue (vs. 23.2% a year earlier). Within this class, the most profitable instruments were CFDs based on the EURUSD currency pair and cryptocurrencies such as Ripple and Bitcoin.
In the first quarter of 2025, XTB clients were actively investing in shares and exchange-traded products (ETPs), including ETF funds. Trading in these instruments rose by 121.3% year-over-year, reaching USD 4.1 billion. In the EU markets, nearly 80% of the initial transactions conducted by new XTB clients involved shares and ETPs, along with investment plans based on these instruments. During this quarter, clients in the EU executed a total of 11 million transactions in these categories. Additionally, net deposits climbed to EUR 986.3 million, a 123.6% increase from the previous year, as clients took advantage of interest on free funds.
At the close of the first quarter of 2025, XTB client assets totaled EUR 7.2 billion. Of this amount, approximately EUR 3.7 billion represented the nominal value of instruments held by clients in their accounts, including stocks and ETPs. Nearly EUR 1.0 billion consisted of client funds, while approximately EUR 2.5 billion was the nominal value of CFD instruments.
In Q1 2025, XTB acquired a record 194.3 thousand new clients (+49.8% y/y), which is in line with the quarterly target of 150-210 thousand new clients. At the end of March 2025, a total of 1.54 million clients used the XTB investment platform and mobile application, compared to 1.01 million at the end of Q1 2024. In turn, between April 1 and 28, 2025, another 56.4 thousand new investors joined XTB’s client base. The number of active customers also increased significantly, reaching a record level of 735.4 thousand, which means an increase of 76.5% year-on-year.
In 2025, XTB aims to further expand its offerings for individuals looking to make their money work, both actively and passively. In the first quarter, XTB launched a new long-term investment product: a PEA account in France. Additionally, investors in the UK can now transfer their ISA accounts to XTB. As previously announced, XTB is also preparing to introduce options and cryptocurrency trading to its portfolio. The implementation of this year’s product plan depends on many external factors, including obtaining the necessary regulatory approvals.
While building a global brand, XTB is preparing to launch operations in Indonesia (planned for the first half of the year) and Brazil, where the process of obtaining the necessary licenses is underway. In turn, in Chile, XTB has already obtained a securities agent license, which allows it to offer clients shares and ETF funds. In the promising Middle East region, XTB has opened a second office in Dubai in recent weeks.
“We aim to make the XTB application the top choice for individuals looking to make their money work, both passively and actively. We understand the importance of not only offering a wide range of products but also providing an efficient onboarding process for new clients and effective support when they need it. We are technologically equipped to serve an increasing number of clients, including those in promising new markets like Latin America and Indonesia” – summarizes Omar Arnaout.
We invite you to a meeting with XTB representatives as part of the 22nd Emerging Europe Investment Conference organized by Pekao Brokerage House.
The Management Board of XTB S.A., taking care of proper communication with the Company’s stakeholders invites you to a meeting for investors devoted to summarizing the preliminary financial and operating results of the XTB Group for Q1’2025.
The meeting will be held on April 30, 2025 at 14:00 CET in Polish in the online formula. Link to the event: https://ir.xtb.com/en/results-conference-preliminary-data-for-q1-2025/
The “Puls Biznesu” daily has published the results of the Listed Company of the Year 2024 ranking, which highlights the best companies listed on the Warsaw Stock Exchange. For the second time in a row, we took 1st place in the main ranking in the assessment of individual and institutional investors.
Listed Company of the Year is one of the oldest, most prestigious, and comprehensive rankings on the Polish capital market. This year, 80 stock market analysts, investment and management advisors representing brokerage houses and offices, pension and investment funds selected the top WSE-listed companies.
Experts evaluated which company has the most competent management, achieved the most remarkable success in 2024, offers the highest quality of products and services, maintains the best relationships with investors, and presents the most compelling development prospects.
Learn more about the ranking [Polish version only]: https://www.pb.pl/oto-najlepsze-spolki-gieldowe-1239061
XTB published its annual report summarizing key financial and operational results achieved in 2024. In many respects, it was a record year for the company: PLN 1.87 billion in consolidated operating income (+15.8% YoY), PLN 856.9 million in net profit (+8.3% YoY), and PLN 986.7 million in operating profit (+6.8% YoY).
Growth in client base, their investment activity, and assets
In 2024, XTB acquired 498,000 new clients, representing a 59.8% year-over-year increase. The company’s goal is to acquire between 150,000 to 210,000 new clients per quarter. In January and February of this year alone, 137,752 new clients joined XTB. As of the end of February, XTB had 1.49 million clients.
The transactional activity of XTB clients also increased, with clients completing 167.6 million transactions in 2024, 18% more than the previous year.
Last year, nearly 80% of new clients in the European Union began investing by purchasing stocks, ETPs, or opening an investment plan. This aligns with XTB’s strategic goal of building a universal investment app that will become the first choice for individuals who want to manage their finances.
In Poland, there was significant interest from clients in pension products, specifically the IKE account. In 2024, XTB clients opened 29,000 such accounts, accounting for 40% of all new IKE accounts opened in brokerage houses. It is worth noting that the IKE account was introduced by XTB only at the beginning of October 2024.
“We are pleased with the results achieved in 2024. We are happy with both the increasing number of new clients and the growth in their transactional activity. Our passive investment offering, including investment plans and interest on free funds, is very competitive in many of the markets we operate in, which positively impacts new client acquisition. We are also effectively reaching younger investor groups who stay with us for the long term,” said Paweł Szejko, CFO at XTB.
At the end of 2024, XTB’s client assets totaled PLN 27.4 billion (+58.4% YoY). The largest increase (+126.6%) was observed in the nominal value of instruments deposited by clients in XTB accounts, which amounted to PLN 13.7 billion. The value of client cash increased by 65.5% to over PLN 3.7 billion, while the nominal value of derivative instruments rose by PLN 1.1 billion to PLN 10 billion.
Growing share of the Middle East in revenue structure
Central and Eastern Europe remains the largest contributor to XTB’s revenue, with its share rising to 63.9% in 2024 (+3.1% YoY). By the end of 2024, revenue from this region grew by 21.7% to PLN 1.96 billion. Poland plays a key role in this region, with revenue from this market increasing by 26.5% YoY, showing that XTB has the potential for further growth in markets where its position is already dominant.
Western Europe is a region where the company plans to intensively expand in 2025. The increase in revenue from this region will be supported by the expansion of the product offering and the introduction of ISA accounts in the UK (Q4 2024), with plans to add PEA accounts for clients in France in the coming weeks.
The most dynamically developing region for XTB remains the Middle East, whose share of the company’s revenue at the end of 2024 reached 10.9%, compared to 7.3% a year earlier. Revenue from this region increased by 72.5% YoY to PLN 203.1 million.
“We see a very large potential in the Middle East region, which is one of the fastest-growing markets for our operations. In the coming days, we will open a new, larger office in the United Arab Emirates, and acquiring a new license opens up a range of opportunities for promoting our products and optimizing costs. The Asian market also holds significant growth potential, where we have obtained a license that will allow us to offer our products – stocks and ETPs – to clients,” commented Paweł Szejko, Board Member for Finance at XTB.
