XTB captured 441,500 new Polish brokerage accounts in 2025, according to data from Poland's Central Securities Depository (KDPW), extending the fintech's grip on a domestic market that crossed 2.5 million total accounts for the first time.

The publicly-listed broker (WSE: XTB) added 63,500 accounts in December alone, pushing its total to 821,748 and giving it roughly 33% of all securities accounts registered with KDPW.

That December figure represents the strongest monthly industry performance since April 2010, when Polish brokerages collectively added 140,000 accounts.

December Spike Driven by Retirement Account Rush

The December surge reflected intensified marketing around IKE and IKZE tax-advantaged retirement accounts ahead of year-end contribution deadlines. Poland's total brokerage account count jumped by 100,374 in December, more than double the 42,000 monthly average from the previous 11 months.

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IKE accounts offer tax-free withdrawals after age 60, while IKZE contributions provide immediate tax deductions of up to 12% for high earners. XTB introduced access to IKZE in the middle of last year, while IKE was added to the multi-asset broker’s offering in October 2024.

Toward the end of 2025, Poland’s brokerage houses became embroiled in a price war to attract new clients, driven by an increasingly saturated domestic market and growing competition from abroad. As reported earlier by FinanceMagnates.com, German fintech Trade Republic entered the Polish market with the aim of shaking up the local landscape. As a result, brokerage firms began cutting their commissions on a broad scale.

Market Growth Tracks Bull Run on Warsaw Exchange

The 565,000 accounts added across Poland's brokerage industry in 2025 also coincided with a historic rally on the Warsaw Stock Exchange. The WIG index gained 47% last year and crossed 100,000 points for the first time in April, while record trading volumes pushed the exchange's second-quarter revenue to all-time highs.

XTB is seeking to attract new clients by promoting its brand through sports-focused marketing campaigns. To this end, the broker has recently entered into partnerships with one of Europe’s two largest mixed martial arts federations and with combat sports athletes, including Conor McGregor.

Traditional Banks Show Modest Gains

mBank's brokerage division finished second in the KDPW rankings with 532,928 accounts after adding 62,225 over the year. December brought 27,952 new accounts to mBank, its strongest monthly performance in the data.

PKO BP's brokerage arm held sixth place with 178,873 accounts following 19,001 additions in 2025. Dom Maklerski Banku Ochrony Środowiska rounded out the top gainers with 17,402 new accounts for the year, including 5,902 in December.

The KDPW figures include all accounts with access to Polish markets regardless of activity level. Brokerages periodically close dormant accounts, which can cause temporary dips in reported totals.

XTB also ranks among the global leaders in terms of active clients in the CFD market. In the third quarter of 2025, eleven brokers worldwide exceeded 100,000 monthly active accounts, with the Polish broker taking the top position.

XTB shares received a buy upgrade from mBank analysts in November despite third-quarter results marking the company's weakest financial performance since 2022. Analysts cited expected higher profitability per lot and the record client base expansion as drivers for the recommendation.