XTB, a prominent global fintech firm celebrated a significant achievement by reaching a milestone of one million customers worldwide. This milestone comes after the company strategically expanded into Contracts for Difference (CFD), stocks, and Exchange-Traded Funds over three years ago, resulting in a doubling of its clientele since the end of 2021.
In the year 2023, XTB witnessed a substantial influx of 312,000 new clients using its app and digital platform to engage in global financial markets. The company’s strong performance throughout the year led to record-breaking results, with consolidated net profits totaling EUR 175 million and revenues of EUR 351 million.
Looking towards the future, XTB has outlined plans to broaden its product offerings and launch services that cater to a wider audience. Transitioning from a CFD broker to a comprehensive investment app, XTB is gearing up to introduce bonds as a new asset class in its passive portfolio by Q2 of 2024. These bonds will include government and corporate bonds from reputable global corporations with robust credit ratings.
Moreover, XTB is preparing to launch ‘Social’, a new service that enables customers to track and follow the investment strategies of expert traders within the platform and their personal connections. Initially introduced in Poland, ‘Social’ will provide users with insights into portfolio composition, risk appetite, and real-time transactions through push notifications.
Recognizing the emerging potential in long-term investing, XTB plans to introduce a retirement product in Poland by Q3 of 2024, with potential expansion into other markets such as the UK, including the Individual Savings Account program. By the end of the year, XTB aims to unveil a product that allows customers to manage their finances seamlessly on the go, featuring an integrated virtual wallet along with a multi-currency card, enabling clients to make payments, transfers, currency exchanges, and investments effortlessly.
Omar Arnaout, the CEO of XTB, expressed confidence in the company’s growth trajectory, stating, “With all the products in our roadmap for this year, doubling the current number of clients is just a matter of time. In 2024, as we plan to add bonds, retirement products, and an e-wallet with a multi-currency card, we plan to welcome 65-90k new clients per quarter.” This ambitious vision underscores XTB’s commitment to innovation and customer satisfaction in the evolving financial landscape.
