“With all the products that are 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.”
XTB has reached the “one million customers” milestone, the multi-asset broker announced today. Since the end of 2021, the customer base has doubled, mirroring the global movement towards more accessible investing.
It was three years ago that XTB decided to broaden its Contract for Difference (CFD) offerings to include stocks and ETFs. The fast growth experienced by the broker is widely attributed to that strategy, coupled with a strong marketing presence across the media, and a newfound market awareness by retail investors since the pandemic.
XTB to launch bonds, retirement products and an e-wallet
According to the company, XTB onboarded 312,000 new clients in 2023 and reported a consolidated net profit of EUR 175 million and consolidated revenues of EUR 351 million.
XTB now plans to introduce new products, including bonds, retirement products, and an e-wallet with a multi-currency card, which, together with rapid geographic expansion namely in the MENA region, is likely to drive further growth. XTB’s 2024 roadmap includes several enhancements and new offerings aimed at transforming the company from a CFD broker to a universal investment app.
The second quarter of 2024 will see the introduction of bonds to XTB’s passive portfolio, offering government and corporate bonds from globally recognized corporations. Additionally, a new service called Social will launch in Poland, allowing users to follow successful investors and receive insights into their portfolios and transactions.
For long-term investing, XTB plans to launch a retirement product in Poland in the third quarter of 2024 and will explore the possibility of similar offerings in other markets. By the end of the year, the company aims to introduce an integrated virtual wallet with a multi-currency card, further enhancing its position as a leading investment app in Europe and beyond.
“We plan to welcome 65-90k new clients per quarter”
Omar Arnaout, CEO of XTB, said: “As a well-capitalized and profitable fintech we’re best placed for further growth in terms of financial performance, customer base and product offering. We aim to become Europe’s leading investment app offering our clients a broad spectrum of user-friendly financial products to trade, invest and save. With all the products that are 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.”
Achraf Drid, CEO for the Middle East & North Africa regions at XTB, added: “XTB’s milestone achievement of serving one million customers globally within just over three years underscores our commitment to democratizing investing, particularly in the Middle East region. As the fastest-growing market in terms of new client acquisition, we see immense potential in this region that will be further boosted by the additional developments planned for this year. As we expand our offerings and enhance accessibility to financial markets, our focus remains on empowering individuals in the Middle East to take control of their financial futures. With a robust roadmap for 2024 we are poised for exponential growth in the Middle East market.”
