XTB Shines in the First Half of 2018, Reports Record Breaking Earnings

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


XTB Shines in the First Half of 2018, Reports Record Breaking Earnings for H1-2018

August 23, 2018

XTB ReportsLeading European Fx & CFD brokerage group, XTB has reported one of its most successful first-half earnings for 2018 today. The preliminary H1-2018 earnings report witnessed a significant increase in revenue and profit. The growth in revenue and profits was largely contributed by increased trading activity on the back of high volatility in the market and large numbers of new clients added during the period.

During the six months ended on June 30, 2018, operating income for the broker came in at €46.7 million ($53.5 million), a healthy increase of 37 per cent or €17.2 million compared to last year. The Net Profits for the brokerage group increased almost three times €23.7 million as compared to €6.9 million in the first half of 2017. In both revenue and net profits front, the company posted a very impressive number.

The Net Cash from operating activities also witnessed a near 100 per cent growth compared to first half of last year, coming in at €30.6 million as against €1.5 million in H1, 2017. Looking at the broker’s foreign exchange operations, it was too positive with total forex gains during the period coming in at €1.6 million. This is a positive development as XTB had no gains in the first half of 2017. 

The foreign exchange loss too came down significantly during the period by almost three times to €777,290. The broker had reported forex loss of €2.9 million in the first half of last year. The total value of CFDs during the period came in at €45 million, higher by 36 per cent compared to last year’s first half. The total value of currency CFDs increased by 29 per cent to €13.5 million.

In terms of revenue for the broker, CFD instruments based on currency pairs shared 29.3 per cent of total revenue against 31.9 per cent a year earlier. The EUR/USD currency pair was the most sought-after among clients and commodity CFD also reported higher activity with value increasing by almost 45 per cent to hit €7.6 million.

During the period XTB added 10,046 new clients, an increase of 24 per cent year-on-year and also the number of active clients during the period went up by 25 per cent or 4,387 from the first half of 2017. 

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