XTB Reports Financial Results for H1 2023, with Record-Breaking New Clients

XTB,  a Poland-based FX & CFD broker, has published its preliminary financial results for the first half of 2023. In the environment of lower volatility in the financial and commodity markets in Q2 2023, the company reported EUR 91.3 mn of net profit in H1 2023. Intense marketing activities resulted in a record high number of new clients as well as their increased investment activity.

In the first half of 2023, XTB generated a net profit of EUR 91.3 mm compared to EUR 103.3 mn a year before, a decrease by 11.6%. Operating revenues amounted to EUR 177.5 mn compared to EUR 180.1 mn in H1 2022, down 1.4%. Operating costs were at the level of EUR 74.1 mn, compared to EUR 57.7 mn in H1 2022.

In the first half of 2023, the company recorded another record in this area by acquiring 167.2 thousand clients compared to 101.0 thousand a year earlier, an increase of 65,5%. Analogous to the number of new clients, the number of active clients was also a record. This rose by 44.4% from 190.1 thousand in H1 2022 to 274.5 thousand at the end of H1 2023.  

In H1 2023, trading in derivatives amounted to 3.51 mn lots, an increase by 18.5% from 3.05 mn lots in H1 2022. The profitability per lot amounted to EUR 49 vs. EUR 59 in H1 2022.

"Growing our customer base remains our priority and the H1 financial results prove that we’re able to achieve our goals even when the volatility in the financial and commodity markets is lower and the interest in investing decreases. We’re strengthening our market position in Poland and key global markets and the investment in technology and new products are bringing the expected results," says Paweł Szejko, XTB board member.