Polish CFDs and retail FX broker XTB released its preliminary financial results for the first quarter of 2023.
According to the official numbers, the company’s revenue for the first three months of the year increased on yearly basis, as well as based on the previous quarter.
Between January and March 2023, XTB’s operating income was PLN 531.6 million. The company registered 20.9% rise compared to Q1 2022.
Omar Arnaout, CEO of XTB, commented:
Omar Arnaout
Our strategy based on expanding the customer base and continuous investment in technology and new products brings the expected results. Thanks to this, we are able to effectively use periods of volatility in financial markets.
Compared to the fourth quarter of last year, the figure jumped 145% from PLN 216.7 million.
Net profit for the period stood at PLN 302.8 million, registering a 19.9% rise YoY and a 505.6% surge QoQ.
Active clients
The numbers of active clients on the platform improved significantly in the first quarter of the year.
XTB registered new 104,206 clients in Q1, 88%% more than the same period the previous year. Based on the fourth quarter in 2022, the number rose 104%. The active clients on the platform came at 215,703 in the Q1, 44% higher than the numbers of Q1 2022 and 34% than Q4 2022.
The CFD trading volume for the quarter also rose by 18% YoY.
Arnaout added:
In the first quarter of 2023, we focused our activities on the promotion of the capital market by engaging our ambassadors. These efforts resulted in a record number of acquired customers.
We have introduced a new product, Fractional Shares. At the beginning of the second quarter of this year, they debuted on the first markets and we plan to expand them to other countries soon.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
