XTB
Limited, the UK arm of the Warsaw-listed fintech (WSE: XTB), reported annual
profit before taxation surged 116% to £374,228 for 2024, even as total revenue
declined 5% to £4.51 million amid its strategic transformation from a pure CFD
broker to a multi-asset investment platform.
XTB Profit Jumps 61% as UK
Broker Cuts Costs, Adds Investment Products
The
London-based company, which operates from Canary Wharf, saw retail sales income
fall to £4.42 million from
£4.65 million the previous year, while institutional sales dropped 8% to
£90,948. However, aggressive cost-cutting measures helped boost operating
profit to £375,968 from £178,527 in 2023.
XTB's shift
toward longer-term investment products gained momentum throughout 2024, with
the company launching Investment
Plans, a flexible stocks
and shares ISA, and interest-bearing
uninvested funds. The firm also introduced a proprietary ETF portfolio
builder with
auto-investing capabilities.
“ISAs have
proved wildly popular since their launch 25 years ago,” said Joshua Raymond,
XTB UK Managing Director. “However, too many accounts have costs and interest
rates that are significantly worse when compared to accounts outside the ISA
regime. Our
intention is to offer terms and conditions that are among the best in the
market.”
XTB Limited Key
Performance Indicators
Revenue
Category | 2024 £ | 2023 £ | Change £ | Change % |
Institutional
sales income | 90,948 | 99,066 | -8,118 | -8% |
Retail
sales income | 4,419,979 | 4,646,000 | -226,021 | -5% |
Total
Revenue | 4,510,927 | 4,745,066 | -234,139 | -5% |
“The
business committed to a significant marketing spend in the UK to build greater
brand recognition and expedite the transition to a multi-asset investment
platform,” the company stated in its annual report filed with Companies
House.
Client Growth Offsets
Revenue Drop
Despite the
revenue headwinds, client acquisition metrics remained robust. New UK retail
client growth jumped 59% year-over-year, while new active clients surged 73%,
demonstrating what XTB called “the new competitive edge of our investment
products.”
The
increase in the number of clients aligns with statistics published by the
entire XTB Group at the end of January, where
the number of new clients rose by 60%. Net profit, meanwhile, grew by 9% to
PLN 859.4 million.
The
company's marketing push included a substantial out-of-home brand campaign in
the first quarter promoting its Investment Plans product. However, XTB
acknowledged that competitor brokers also ramped up marketing
Marketing
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t
Read this Term spending, which
“diluted the effect” of its own campaign and intensified competition
in the UK market.
XTB Limited - Statement of
Comprehensive Income Analysis
Line Item | 2024 £ | 2023 £ | Change £ | Change % |
Revenue | 4,510,927 | 4,745,066 | -234,139 | -4.9% |
Gross
profit | 4,510,924 | 4,744,465 | -233,541 | -4.9% |
Administrative
expenses | (4,134,956) | (4,565,938) | 430,982 | -9.4% |
Operating
profit | 375,968 | 178,527 | 197,441 | +110.6% |
Finance
costs | (1,740) | (5,320) | 3,580 | -67.3% |
Profit
before taxation | 374,228 | 173,207 | 201,021 | +116.0% |
Income tax
expense/(income) | (95,128) | 63,904 | -159,032 | -248.9% |
Profit and total comprehensive
income | 279,100 | 237,111 | 41,989 | +17.7% |
Volatility, Balance Sheet
and Compliance
Market
volatility
Volatility
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
Read this Term driven by the US Presidential Election, falling interest rates, and
commodity price spikes contributed to two distinct trading patterns: a
transition to commodities trading and periodic bursts
of stock market volatility similar to 2023 trends.
XTB's
balance sheet strengthened during the year, with cash and cash equivalents
reaching £6.45 million, down from £6.87 million in 2023. The company maintained
no borrowings and reported net assets of £3.15 million, up from £2.87 million
the previous year.
The firm's
compliance team focused on strengthening its vulnerable client framework and
preparing regulatory requirements for new product launches, including ISA
offerings. For 2025, XTB plans to introduce a tiered onboarding process for
different products while continuing to enhance consumer duty frameworks.
XTB
Limited, the UK arm of the Warsaw-listed fintech (WSE: XTB), reported annual
profit before taxation surged 116% to £374,228 for 2024, even as total revenue
declined 5% to £4.51 million amid its strategic transformation from a pure CFD
broker to a multi-asset investment platform.
XTB Profit Jumps 61% as UK
Broker Cuts Costs, Adds Investment Products
The
London-based company, which operates from Canary Wharf, saw retail sales income
fall to £4.42 million from
£4.65 million the previous year, while institutional sales dropped 8% to
£90,948. However, aggressive cost-cutting measures helped boost operating
profit to £375,968 from £178,527 in 2023.
XTB's shift
toward longer-term investment products gained momentum throughout 2024, with
the company launching Investment
Plans, a flexible stocks
and shares ISA, and interest-bearing
uninvested funds. The firm also introduced a proprietary ETF portfolio
builder with
auto-investing capabilities.
“ISAs have
proved wildly popular since their launch 25 years ago,” said Joshua Raymond,
XTB UK Managing Director. “However, too many accounts have costs and interest
rates that are significantly worse when compared to accounts outside the ISA
regime. Our
intention is to offer terms and conditions that are among the best in the
market.”
XTB Limited Key
Performance Indicators
Revenue
Category | 2024 £ | 2023 £ | Change £ | Change % |
Institutional
sales income | 90,948 | 99,066 | -8,118 | -8% |
Retail
sales income | 4,419,979 | 4,646,000 | -226,021 | -5% |
Total
Revenue | 4,510,927 | 4,745,066 | -234,139 | -5% |
“The
business committed to a significant marketing spend in the UK to build greater
brand recognition and expedite the transition to a multi-asset investment
platform,” the company stated in its annual report filed with Companies
House.
Client Growth Offsets
Revenue Drop
Despite the
revenue headwinds, client acquisition metrics remained robust. New UK retail
client growth jumped 59% year-over-year, while new active clients surged 73%,
demonstrating what XTB called “the new competitive edge of our investment
products.”
The
increase in the number of clients aligns with statistics published by the
entire XTB Group at the end of January, where
the number of new clients rose by 60%. Net profit, meanwhile, grew by 9% to
PLN 859.4 million.
The
company's marketing push included a substantial out-of-home brand campaign in
the first quarter promoting its Investment Plans product. However, XTB
acknowledged that competitor brokers also ramped up marketing
Marketing
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t
Read this Term spending, which
“diluted the effect” of its own campaign and intensified competition
in the UK market.
XTB Limited - Statement of
Comprehensive Income Analysis
Line Item | 2024 £ | 2023 £ | Change £ | Change % |
Revenue | 4,510,927 | 4,745,066 | -234,139 | -4.9% |
Gross
profit | 4,510,924 | 4,744,465 | -233,541 | -4.9% |
Administrative
expenses | (4,134,956) | (4,565,938) | 430,982 | -9.4% |
Operating
profit | 375,968 | 178,527 | 197,441 | +110.6% |
Finance
costs | (1,740) | (5,320) | 3,580 | -67.3% |
Profit
before taxation | 374,228 | 173,207 | 201,021 | +116.0% |
Income tax
expense/(income) | (95,128) | 63,904 | -159,032 | -248.9% |
Profit and total comprehensive
income | 279,100 | 237,111 | 41,989 | +17.7% |
Volatility, Balance Sheet
and Compliance
Market
volatility
Volatility
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad
Read this Term driven by the US Presidential Election, falling interest rates, and
commodity price spikes contributed to two distinct trading patterns: a
transition to commodities trading and periodic bursts
of stock market volatility similar to 2023 trends.
XTB's
balance sheet strengthened during the year, with cash and cash equivalents
reaching £6.45 million, down from £6.87 million in 2023. The company maintained
no borrowings and reported net assets of £3.15 million, up from £2.87 million
the previous year.
The firm's
compliance team focused on strengthening its vulnerable client framework and
preparing regulatory requirements for new product launches, including ISA
offerings. For 2025, XTB plans to introduce a tiered onboarding process for
different products while continuing to enhance consumer duty frameworks.
