XTB closed 2024 on a high note, delivering record-breaking financial and operational results. The online brokerage firm also experienced a surge in new clients, adding nearly 500,000 over the year, a 59.8% increase.

This influx helped drive revenue up 15.8% to PLN 1.87 billion, while net profit climbed 8.6% year-over-year to PLN 859.4 million. Despite rising operational costs, XTB benefited from strong market trends and growing interest in financial instruments.

Record Revenue and Profit Growth

According to the company’s report, XTB’s revenue surged to PLN 1.87 billion in 2024, up from PLN 1.62 billion in 2023. The key driver behind this growth was the expanding client base, with the number of active clients increasing by 61.2% to 658,500.

Recently, XTB announced plans to add spot cryptocurrencies to its offering. Notably, cryptocurrencies have been offered in the company since 2018, but only as contracts for difference. The Polish-based firm, with plans to become an all-in-one financial super app, reportedly also targets “physical” cryptocurrencies.

While transaction volume in CFD instruments declined by 7.5% year-over-year, higher profitability per lot helped offset the impact. By asset class, CFDs on commodities accounted for the largest share of revenue at 48%, fueled by strong interest in gold, natural gas, and cocoa.

CFDs on indices contributed 33.3%, with the US 100, German DAX (DE40), and US 500 indices being the most profitable. Currency-based CFDs made up 14.6%, driven by demand for bitcoin and USD/JPY trades.

As XTB expanded aggressively, its operating expenses grew to PLN 883.5 million, marking a 27% increase from 2023. Marketing expenses saw the largest jump, rising by PLN 78.2 million due to intensified online campaigns. Employee salaries and benefits also increased by PLN 52.4 million, reflecting higher staffing levels.

Cost Increases in 2025

The company anticipates further cost increases in 2025, with projections suggesting a potential 40% rise in total expenses. Marketing spending alone is expected to grow by 80% as XTB focuses on global expansion and client acquisition.

XTB’s management remains focused on scaling its business and maintaining profitability. The company plans to continue investing in marketing, technology, and geographic expansion. At the same time, XTB’s dividend policy remains shareholder-friendly, with the board considering payouts of up to 75% of net profit for 2024, subject to regulatory requirements.

With a strong financial position, rising brand recognition, and a growing user base, XTB is positioning itself for continued success in 2025. However, higher costs and evolving regulatory factors could shape the firm’s profitability in the year ahead.

This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More

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