XTB’s client acquisition and earnings mix are moving at different speeds. Shares, ETFs and Investment Plans accounted for 82.9% of first transactions by new EU clients in the first half of 2026, but CFD operations still generated about 96% of the broker’s gross result from financial instruments.
The divide became more pronounced during a record first half. Operating revenue rose 79.7% to PLN 2.09 billion and net profit increased 150.5% to PLN 1.03 billion, with commodity CFDs alone accounting for 75.3% of the gross result from financial instruments.
Finance Magnates documented the longer-term change in XTB’s client entry points in January. The latest figures add another dimension: the shift towards investment-led acquisition has yet to produce a comparable change in the company’s earnings mix.
Investment Products Account for 82.9% of First Trades
The comparison with 2019 shows the scale of the change. Shares then accounted for 15.5% of first transactions and ETFs for 3.5%, while Investment Plans had not yet been introduced. New client onboarding behaviour at XTB is therefore changing faster than the revenue mix supporting the business.
Broader investment activity points in the same direction. Nominal turnover in shares and ETFs more than doubled to $18.44 billion from $8.85 billion. XTB’s chart of EU client activity shows about 46 million share, ETF and Investment Plan transactions during H1 2026, compared with roughly 22 million a year earlier.
The behavioural shift accompanied record financial results. XTB generated PLN 2.09 billion in operating revenue, up 79.7% from a year earlier, while net profit rose 150.5% to PLN 1.03 billion. The group acquired 703,333 clients and recorded almost 1.49 million active clients.
- XTB Analyst Lifts 2026 Profit View 50% After Three Quarterly Forecast Misses
- XTB Launches AI Analytical Chat Powered by LSEG and Reuters Data
- XTB Rolls Out Redesigned Investment Plans Across Five European Markets
CFDs Still Finance the Business
CFD operations generated PLN 1.98 billion of XTB’s gross result from financial instruments, compared with PLN 82.9 million from other instruments. Commodity-based CFDs alone produced 75.3% of the total, up from 33.1% a year earlier, following profitable activity linked to gold, silver, oil and cocoa. Index CFDs contributed another 13.9%.
Client holdings provide separate evidence of the scale reached by XTB’s investment offering. At the end of June, clients held PLN 23.35 billion in stocks and PLN 20.02 billion in ETFs out of PLN 50.31 billion in total assets. The report listed CFDs at a fair value of PLN 642 million, which does not represent their notional exposure.
The data follows XTB’s continued product expansion. The broker rolled out US equity options across seven European markets during the first half and introduced a Cash ISA in the UK. It has also started deploying Investment Plans 2.0, adding shares to portfolios previously built around ETFs.
The H1 figures therefore show a widening gap between acquisition and monetisation. Shares, ETFs and Investment Plans increasingly provide the entry point for new clients, while leveraged trading continues to finance most of XTB’s broader product expansion.
