Table of Content
Table of Content
XTB posts record half-year results as trader’s flock to the popular online broker | Broker News
XTB XTB – the award-winning FX & CFD broker – reported another record set of earnings for 2018. The broker saw revenues grow 70% to €46m compared to the same period a year ago. Additionally, operating profit jumped nearly 250% to €26.8m.
On the back of this earnings report, XTB’s share price – which is traded on the Warsaw Stock Exchange – rose by 2% to a three-month high.
So what does this record performance indicate?
The broker put its success down to several factors including a sharp increase in new traders and overall profitability. New active clients jumped to over 10,000, marking a growth of 23.6% whilst the average number of active traders grew by a similar amount to 22,117.
Concerning the higher rate of profitability, the broker saw its profit by lot traded by clients jump 29% to €35.7m with costs at a stable level.
In terms of its global client coverage, the biggest growth areas for XTB remain its core European markets. Central and Eastern Europe saw revenues jump 108.4% to €24.4m whilst western Europe – which includes its Spanish market – saw revenues jump 23.4% to €19.4m.
Optimism on global growth in Latin America, Africa and the Middle East
In its forward guidance, XTB indicated continued confidence in its French and German operations as strong prospects for growth but also highlighted its non-European client base as a cause for optimism. XTB felt that Latin America, Africa the and Middle Ehave has become a core focus for global expansion and business development. The firm is committed to growing its market share in those regions as it diversifies its global client base.
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