X-Trade Brokers, also known as XTB, has released its metrics for the third quarter of 2021. The Poland-based company saw strong a consolidated net profit of PLN 101,5 million for the period, compared to PLN 68,4 million last year.
According to XTB’s report, operating expenses came at PLN 84.8 million, up from the third quarter of 2020’s PLN 60.1 million.
Additionally, XTB registered more than 38 thousand new clients, a significant jump of 82.1 % from the 21 thousand reported in the third quarter of 2020. Revenue also soared 40.8% to PLN 196.6 million in Q3 2021, compared to PLN 139.6 million last year.
The significant factor determining the level of revenues was a constantly growing client base combined with their high transaction activity noted in the number of concluded transactions in lots and in the nominal value of the realized turnover. As a consequence, the transaction volume in CFD instruments amounted to 1 044 thousand lots (III quarter 2020: 760 thousand lots), and a profitability per lot amounted to PLN 188 (III quarter 2020: PLN 184).
XTB noted that during the third quarter, CFDs based on commodities took the lead in revenues. The Polish broker highlighted that the profits were largely driven by the high profitability on CFD instruments based on gold, silver and natural gas.
Revenues of CFD based on currencies reached 14,4% of all revenues, compared to 20,1% a year earlier, where the most popular financial instruments in this class were based on the EURUSD currency pair.
XTB recently secured an operational licence from the the South African financial markets regulator the Financial Sector Conduct Authority (FSCA).
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.