While XTB welcomed a record number of new clients in the first quarter of 2024, the surge in users failed to offset the impact of declining quarterly net profit.

The Polish brokerage's net profit slipped by more than a quarter year over year, from PLN 302.7 million to PLN 193.9 million, according to the company's preliminary financial and operating results for the first quarter of 2025.

Weaker Trading Offsets Client Boom

XTB’s consolidated income for Q1 2024 came in at PLN 580.3 million, up from PLN 555.9 million in the same period last year—a 4.3% increase. The firm pointed to significantly lower turnover in CFDs, which fell from PLN 1.55 trillion in Q1 2023 to PLN 1.22 trillion this year. That drop helped push the average revenue per client down from PLN 1,047 to PLN 738.

“The ended quarter confirmed the effectiveness of these activities, which allowed the Group to acquire a record number of over 194,000 new customers (+49.8% y/y) and thus exceed the number of 1.5 million total customer milestone (an increase of 51.5% y/y),” the company noted.

“At the same time, the number of active clients was also record-breaking, increasing by 76.5% y/y from 416.6 thousand in Q1 2024 to 735.4 thousand.”

Revenue reportedly increased 4% year over year and 24% quarter over quarter to PLN 580.3 million. The company attributed the boost to the increase in the number of active clients and high transaction activity.

Client Base Keeps Expanding

Despite the revenue pressures, XTB’s growth in client numbers hit new records. The broker onboarded 194,304 new clients in the first three months of the year, and its total number of active clients now exceeds 1.5 million.

Expect ongoing updates as this story evolves.

Source: Finance Magnates