XTB Reports Strong Q3 2024 Bounce-Back with 23% Growth

XTB has shown a robust recovery in the third quarter (Q3) of 2024, bouncing back from a disappointing Q2. While the company’s Q3 results did not reach the record levels seen in Q1, they demonstrated significant growth, with key metrics indicating a positive turnaround.

For Q3 2024, XTB’s revenues totaled PLN 470 million (USD $118 million), marking a 23% increase from Q2’s $96 million. Net profit saw a 27% quarter-over-quarter rise, reaching PLN 204 million ($51 million), up from $40 million in Q2. The company’s results were released after the market closed on Wednesday, and it remains to be seen how XTB shares will perform following the announcement. In early September, the company’s stock saw a drop, falling by over 10% after it was reported that controlling shareholder Jakub Zablocki sold $135 million worth of shares, reducing his stake in the company below 50% for the first time.

XTB Reports Strong Q3 2024 Bounce-Back with 23% Revenue Growth

XTB’s trading volumes surged in Q3 2024, averaging $232 billion per month, a 12% increase from Q2’s $207 billion. The company’s profitability per $1 million transaction volume also grew to 174, compared to 154 in Q2. On the client front, XTB saw impressive growth, acquiring 108,104 new clients in Q3, up 60.1% year-over-year. Active client numbers reached a record high of 474,117, representing a 68.7% increase compared to the previous year.

CFDs based on indexes, particularly the US 100, DE40, and US 500, led XTB’s revenue growth, contributing 44.9% of Q3’s revenue. CFDs on commodities followed with 38.2%, while currency-based CFDs accounted for 14.6%.

XTB’s operating expenses in Q3 2024 rose to PLN 208.5 million, a 26.4% increase from the previous year. The main cost drivers were higher employee salaries, marketing expenses, and commission costs. Despite these increases, the company is ready for client growth and brand expansion, with expectations of a 20% increase in operational costs for the year.

Company Overview

XTB is a globally famous online brokerage and trading firm. Established in 2002, it became a premier retail Forex and CFD services provider. Operating across numerous countries, XTB is subject to regulation by esteemed financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Polish Financial Supervision Authority (KNF) in Poland. Renowned for its reliability, XTB offers exceptional customer support, an extensive range of forex and CFD options, and an exemplary trading environment. 

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