XTB UK doubles profit in 2024 despite 5% revenue dip
XTB boosts profit in 2024
XTB Limited, the UK arm of fintech group XTB, ended 2024 with mixed financial results as the company continued its ambitious transition from a traditional CFD broker to a diversified multi-asset investment platform.
Despite a 5% year-on-year decline in total revenue—from £4.75 million in 2023 to £4.51 million in 2024—the company’s profitability improved significantly: operating profit more than doubled to £375,968, up from £178,527 the previous year, according to the report.
The revenue decline was primarily driven by a 5% drop in retail sales income to £4.42 million and a sharper 8% fall in institutional sales to £90,948. Nevertheless, tighter cost control enabled the company to reduce administrative expenses by nearly 9.5%, positively impacting the final results. Net profit increased by 17.7% to £279,100, highlighting the early financial gains of XTB’s strategic transformation.
Strategy and platform development
A key element of XTB Limited’s strategy in 2024 was the launch of long-term investment products, including Investment Plans, a proprietary ETF portfolio builder, a flexible Stocks and Shares ISA, and updated mobile app interfaces. These initiatives represented a major milestone in the development of the investment platform and in enhancing customer lifetime value amid intense competition in the UK market.
Marketing activity and client growth
The company also heavily invested in marketing to raise awareness of its new products. A high-profile out-of-home campaign in the first quarter promoting Investment Plans contributed to a 59% year-on-year increase in new UK retail clients, while the number of new active clients rose by 7.3%. However, aggressive advertising by rival brokers partially diluted the campaign’s impact, intensifying the competitive landscape.
Regulation, risk, and outlook
On the regulatory front, XTB focused on meeting consumer protection standards and preparing documentation for the launch of its ISA product. Key risks—including market volatility, interest rate fluctuations, and cybersecurity threats—remain under constant monitoring and are managed through hedging strategies, internal audits, and diversification across banking partners.
The year ended with a strong liquidity position of £6.45 million in cash and no external borrowings. Shareholders’ equity rose to £3.15 million from £2.87 million, indicating improved financial resilience.
Based on the progress made in 2024, XTB Limited enters 2025 aiming to further expand its platform, meet regulatory requirements, and deliver long-term shareholder value. The Board has reaffirmed its commitment to sustainable growth through continued investment in technology, compliance, and talent.
As a reminder, XTB surpassed 1 million users in 2024.
