XTB Surpasses One Million Customers Amid Fintech Expansion

XTB has achieved a significant milestone, boasting one million customers worldwide. This achievement comes on the heels of a strategic expansion into Contracts for Difference (CFD), stocks, and Exchange-Traded Funds (ETFs) just over three years ago. The company’s rapid growth is indicative of a broader global trend, with individuals increasingly taking control of their financial portfolios.

In 2023 alone, XTB witnessed a surge of 312,000 new clients utilizing its app and digital platform to engage in global financial markets. The firm’s stellar performance throughout the year culminated in record-breaking results, with consolidated net profits reaching EUR 175 million and revenues soaring to EUR 351 million.

Omar Arnaout, CEO of XTB, expressed confidence in the company’s growth trajectory, stating, “With all the products outlined in our roadmap for this year, doubling the current number of clients is just a matter of time. In 2024, as we plan to add bonds, retirement products, and an e-wallet with a multi-currency card, we anticipate welcoming 65-90k new clients per quarter.”

XTB Surpasses One Million Customers Milestone Amid Global Fintech Expansion

Looking forward, XTB has outlined ambitious plans to diversify its product offerings and cater to a wider audience. Also, the company is going to introduce bonds as a new asset class in its passive portfolio during the second quarter of 2024. These bonds will encompass government and corporate bonds issued by reputable global corporations with strong credit ratings.

Additionally, XTB is going to launch ‘Social,’ an innovative service allowing customers to track and follow the investment strategies of expert traders within the platform and their personal connections. Initially rolled out in Poland, Social will offer users insights into portfolio composition, risk appetite, and real-time transactions via push notifications.

Recognizing the burgeoning interest in long-term investing, XTB plans to introduce a retirement product in Poland during the third quarter of 2024, with potential expansion into other markets like the UK, including the Individual Savings Account program. By the end of the year, XTB aims to unveil a product that enables customers to manage their finances seamlessly on the go. This offering will feature an integrated virtual wallet coupled with a multi-currency card, empowering clients to make payments, transfers, currency exchanges, and investments with ease.

Company Overview

XTB is a globally renowned online brokerage and trading firm. It was established in 2002 and has since emerged as a premier provider of retail Forex and CFD services. 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. The company has introduced xStation 5, a sophisticated trading platform equipped with cutting-edge features. Moreover, XTB furnishes comprehensive educational resources and research materials.

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