XTB Posts PLN 23.8 Million Loss in Q2 2021

X-Trade Brokers (XTB), a leading UK FX & CFD broker, published its financial report for the second quarter of 2021 ended June 30, reporting a net loss after several quarters.

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According to the report, the broker saw a net loss of PLN 23.8 million in this quarter, which is down from the previous quarter's profit of PLN 89 million. The total operating income for the period reached PLN 55.1 million, which is a 70 percent decline from the numbers reported in Q1.

In terms of operating expenses, the company reported a decline as the number reached PLN 77 million in Q2 of 2021, which is lower than PLN 86 million of last quarter. The pre-tax loss of the broker stood at PLN 30.7 million.

In addition, the broker gained 40,623 new clients that took the total number to 352,946. Interestingly, 106,563 traders were active on the broker in the quarter, which is higher than the previous quarter’s number. Net client deposits came in at PLN 650 million.

Earlier this month, XTB announced that it has secured a category three license from the Dubai Financial Services Authority (DFSA) through its branch XTB MENA.