XTB Nears 1 Million Polish Accounts Following March Surge

XTB ended March less than 9,000 accounts short of one million in its domestic market, according to new data from Poland's Central Securities Depository (KDPW). This positions the Warsaw-listed broker to surpass the milestone when April figures are released next month. The KDPW tally showed XTB with 991,791 accounts with access to the Polish market at the end of March, a monthly increase of 50,598 and a yearly rise of 525,452. With the firm adding roughly 55,000 accounts per month over the past half-year, the seven-figure threshold is expected to be crossed before the April report.

The total Polish brokerage market reached 2,736,531 accounts, up 60,858 from February and 660,154 year-on-year. XTB accounted for approximately 83% of all net new accounts added to the KDPW system in March, extending a domestic dominance that has reshaped the local broker landscape over three years. The gap between XTB and its rivals continues to widen. mBank's brokerage arm, the second-largest player with 550,244 accounts, added 5,522 in March. Other major banks each added fewer than 1,000 accounts.

The first quarter saw Polish brokerages add 201,925 accounts in the KDPW dataset, marking the strongest annual start on record. The pace moderated from a December and January peak, driven by a rush to open tax-advantaged IKE and IKZE retirement accounts before a year-end deadline. XTB has been a primary beneficiary of this trend, having launched its IKZE product in mid-2025.

The KDPW report includes all accounts with Polish market access, regardless of activity, and periodic purges of dormant accounts can cause dips in totals. The data excludes Revolut, which operates under a Lithuanian license and reported around 590,000 Polish investment customers last year. Competition has intensified with the entry of German neobroker Trade Republic, sparking a domestic commission price war.

For XTB, the Polish figures represent only part of its business. The KDPW data captures domestic market access, while the broker reports a broader global client base. XTB added 864,000 clients worldwide in 2025, more than in its first two decades combined, with Poland generating about 54% of consolidated revenue. This domestic strength came at a cost; the company's 2025 net profit fell about 25% to PLN 644.2 million as marketing spending surged nearly 70% to PLN 584.9 million. CEO Omar Arnaout described the spending as a deliberate push to accelerate client acquisition and highlighted planned spot crypto trading in Cyprus as a move to reduce reliance on CFD revenue.