CFD broker XTB’s net profit over four times higher in Q3 year-to-date

Rick Steves

XTB has generated a consolidated net profit of 49.4 EUR million in the third quarter of 2022, according to the broker’s preliminary financial results. 

Net profit of 49.4 EUR million in Q3 2022 corresponds to a 117.1% increase on a year over year basis and an increase of profitability per lot by 28.1%. Trading volume on CFD instruments rose by 52.7% y/y, from 1.044 million to 1.594 million lots.

The net profit of XTB on a YTD basis amounts to EUR 152.7 million, which is four times more than in the same period of the previous year (EUR 37.1 million).

High volatility and client onboarding behind net profit growth at XTB

XTB stated the broker onboarded almost 45 thousands of clients in the third quarter and a total of 145.8 thousand during the first nine months of 2022.

The firm points to high volatility on the financial and commodity markets and the systematically growing customer base as the main factors influencing the level of XTB’s results. These were also named as the main causes in previous quarters.

Omar Arnaout, CEO of XTB, said: “The situation on the energy market influencing the prices of energy commodities, high inflation and volatility in the currency market are just some of the factors that encouraged customers to actively seek investment opportunities on financial markets. This is confirmed by income from different types of assets. In such circumstances, we can see the effects of systematic building of the base of our clients, who conclude more transactions in the period of higher volatility. The effect of this, as in previous quarters, is also higher profitability.”

“Acquisition data show that the number of our clients is systematically growing, which was one of our main goals for this year. The development of technology makes investing more and more accessible and common. That is why we constantly modify our offer and introduce changes, which are to increase the interest in our services for both new and existing customers. Additionally, we intensified our advertising campaigns with our brand ambassadors. Thanks to this, from quarter to quarter we are consistently strengthening our position on the market of global investment companies.”

Indices-based CFDs account for 37.6% of profitability at XTB

In the third quarter of 2022, indices-based CFDs – especially US 100, WIG20, DAX (DE30) and US 500 indices – were the most profitable for XTB as its share in the structure of revenues from financial instruments reached 37.6%.

The second most profitable asset class were CFDs based on currencies, with a 31.0% share in the revenue structure in the third quarter of 2022.

Revenues on CFDs based on commodities accounted for 27.7% of all revenues, and the leading instruments in this class were contracts based on gold, oil and natural gas prices.

The operating costs in Q3 amounted to EUR 27.7 million, up by EUR 9.2 million, and were mostly salaries and employee benefits as well as marketing costs resulting from promotional activities. XTB has recently launched a global marketing campaign with new brand ambassador Conor McGregor.

In Q3 2022, XTB launched contracts for 30 new cryptocurrencies and adapted its offer of real stocks and ETFs to the requirements of customers, expanding it by over 65 instruments, while also lowering the minimum order value for stocks and ETFs.

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎


Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.


FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.