XTB Q3 2023 Results

XTB Q3 2023 Results: Revenue Decline! – New Report!

XTB has unveiled its preliminary financial and operating results for Q3 of 2023, revealing a decline in revenue and net profit attributed to decreased market volatility. The company, founded in Poland in 2002, disclosed a 29.5% year-on-year (YoY) drop in consolidated revenue, with figures falling from PLN 391.3 million to PLN 275.7 million.

The primary factor behind this decline in revenue was the reduced profitability per lot, which plummeted from PLN 245 to PLN 137. However, this setback was partially offset by a remarkable 47.1% YoY increase in active clients, leading to a surge in transaction volume in CFD instruments. The volume of CFDs reached 2,011.5 thousand lots, up from 1,594.6 thousand lots during the same period in 2022.

XTB Q3 2023 Results: Revenue Decline!

XTB’s Commodity-Based CFDs played a pivotal role in the third quarter of 2023, contributing 47.7% of the total revenue on financial instruments. These CFDs, based on commodities such as oil, gold, and wheat, proved to be particularly profitable for the company. CFD instruments linked to indices closely followed, making up 25.4% of revenue, while CFDs based on currency pairs accounted for 22.2% of total revenues. Among these, the most profitable instruments were with currency pairs like EURUSD, USDJPY, and GBPUSD.

In addition to its financial performance, XTB also announced significant growth in its client base, having acquired 234,704 new clients since the beginning of the year, representing a remarkable increase of 60% compared to the previous year.

XTB, with over 826,000 customers worldwide, continues to expand its product offerings. In the third quarter, the company introduced a passive investment product that allows clients to create up to 10 strategies based on ETFs, each consisting of up to 9 ETFs. This product is available in various markets, including the Czech Republic, Slovakia, Germany, Portugal, Romania, and Italy.

Furthermore, XTB introduced fractional share trading to the UK market, with a minimum transaction value of just €10. This offering provides access to over 3,000 shares from 16 major global exchanges and 300 global ETFs, further enhancing the company’s array of investment options.

Despite the challenges posed by declining market volatility, XTB’s strategic initiatives and the growth in its client base demonstrate the company’s commitment to providing diverse investment opportunities and expanding its global reach.

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