XTB Sees 183.7% Increase in Net Profit for Q1 2022

Fazzaco learned that X-Trade Brokers (XTB), a leading FX & CFD broker based in Poland, has released its financials for the first quarter of 2022, showing a great jump in net profit and revenues compared to the first quarter of 2021.

More specifically, the broker registered a net profit of PLN 252.6 million, up 183.7 percent on a YoY basis. Total operating income for this quarter came in at PLN 439.8 million, 135.6 percent higher than the prior year. The operating costs reached PLN 131 million and were PLN 44.1 million higher compared to the same period in 2021 (PLN 86.9 million).

In Q1 2022, XTB also reported revenues of PLN 253.1 million, increased by 135.6 percent compared to the last year's PLN 439.8 million. Moreover, the number of average number of active clients rose 44.7 percent y/y to 149,726, while its number of new clients down by 17.7 percent y/y to hit 55,333. The broker's CFD profitability per lot hit PLN 282, up 68.4 percent compared to the previous year. Additionally, its CFD volume for Q1 stood at 1,560,739, 39.9 percent higher than that of Q1 2021.