XTB UK Profit Soars Despite Revenue Dip in 2024

XTB Limited, the UK arm of the Warsaw-listed fintech giant (WSE: XTB), reported a remarkable 120% surge in annual profit before taxation for 2024, hitting £374,228, even as total revenue fell by 5% to £4.51 million. The profit leap underscores the company’s ongoing transformation from a traditional CFD broker into a broader multi-asset investment platform.

XTB UK Profit Soars Despite Revenue Dip in 2024

Let’s start:

XTB UK posted a 110.6% rise in operating profit to £375,968, up from £178,527 in 2023. The result was largely driven by aggressive cost-cutting and a strategic pivot toward longer-term, client-centric investment offerings, including Investment Plans, a flexible stocks and shares ISA, and a proprietary ETF portfolio builder.

Transition Drives New Growth

“The transition from a pure CFD broker is no longer a vision — it’s a reality,” said Joshua Raymond, Managing Director of XTB UK. “ISAs have proved wildly popular since their launch 25 years ago, but many providers continue to offer lackluster terms. We believe we can disrupt that space with more competitive rates and user-friendly tools.”

While institutional sales declined 8% to £90,948 and retail income fell 5% to £4.42 million, the company’s rapid expansion in client base helped offset the impact. New UK retail clients rose by 59%, with new active clients up 73% year-over-year — figures that outpaced the broader XTB Group’s 60% global client growth.

Streamlining Costs, Strengthening the Balance Sheet

XTB managed to slash administrative expenses by 9.4% (£430,982), enabling it to more than double its bottom line. Profit after tax rose to £279,100, a 17.7% increase from 2023, despite the fall in gross profit and revenue. Finance costs also dropped sharply, further supporting the company’s solid year-end results.

The company’s balance sheet remained healthy, with cash reserves of £6.45 million and no borrowings. Net assets grew to £3.15 million, reflecting improved operational efficiency and controlled financial risk.

Marketing Push and Regulatory Focus

XTB committed to a major marketing campaign in early 2024 to build brand awareness for its new investment offerings. Though competitive marketing activity in the UK market blunted some of the campaign’s effects, the company says its new products laid the groundwork for long-term growth.

“In a competitive landscape, standing out requires more than flashy ads,” Raymond said. “It requires products that genuinely meet investor needs — and we believe our ISA and ETF tools do exactly that.”

The company also prioritized regulatory readiness, regarding consumer duty obligations and product-specific compliance structures. XTB’s compliance team has focused on enhancing its vulnerable client frameworks and readying systems for new onboarding tiers in 2025.

Outlook: Building a Modern Investment Platform

Looking ahead, XTB UK plans to deepen its transition with more personalized investment solutions and enhancements to its ISA platform. With retail clients embracing the company’s auto-investing ETF builder and interest-bearing cash accounts, XTB hopes to further position itself as a low-cost, full-service investment provider.

While revenue contracted in 2024, the company’s strong client growth, sharp rise in profitability, and renewed strategic focus suggest a promising trajectory for 2025 and beyond, particularly as the firm leverages its tech-driven model to compete in an increasingly diversified investment landscape.

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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