X-Trade Brokers (XTB) Limited, a UK subsidiary providing foreign exchange (FX) and contracts-for-difference (CFDs) services, has reported its financial results for the 2016 calendar year. Like its parent branch, XTB Limited incurred notable declines across key metrics as a result of lower volatility during 2016.
During 2016, the group’s revenues were characterized by a sizable decrease, having seen its institutional sales income come in at $346,479 (£275,315), a decline of -50.4 percent year-over-year from $698,633 (£555,220) in 2015. By extension, XTB Limited’s retail sales income secured a growth to $5,865,277 (£4,662,012) in 2016, up 14.2 percent year-over-year from $5,136,529 (£4,082,767) in 2015.
What to Look for in a Forex Technology Provider?Go to article >>
Overall, XTB Limited’s total revenues from both retail and institutional sales fell -36.0 percent in 2016, relative to 2015. Looking at its operating profits, XTB reported a reading of $299,102 (£237,646) in 2016, unable to match its figure of $423,920 (£336,827) in 2015, ultimately falling -29.4 percent year-over-year.
XTB’s profit after taxes was also on the decline, yielding $166,194 (£132,047) in 2016, coming in lower than $337,829 (£268,374) in 2015 or -50.8 percent year-over-year. The figures outlined in the 2016 report incur a similar decline seen across XTB’s Polish business, which collectively suffered from lower volatility throughout the year.