UK unit of XTB Group reported financial results for the year 2015 and they seem quite impressive: the brokerage yielded a profit of £268k on more than £4.6m in revenues. In comparison, its revenue in 2014 stood at £970k and the company absorbed a loss exceeding £686k.
Here are the Key performance indicators of XTB Ltd UK (formerly known as X Open Hub Ltd):
In 2015 XTB focused on developing its retail sector activities, which included organizational restructuring and new website. This, of course increased retail marketing spends, however retail trading volumes increased significantly – by 1.500%. The company plans to grow yet further its retail business in 2016 with particular focus on the UK market. In order to do this, XTB intends to conduct a comprehensive brand awareness campaign and will continue to develop and optimize its trading platforms, risk management tools and client educational section.
Meanwhile, the institutional side of XTB business was relatively stable, although institutional sales income dropped by 22% YoY due to market conditions. The broker said it plans to focus more on providing liquidity than trading technology in the future.
What is more, according to the report, client deposits held by UK branch of XTB increased significantly, coming in at £1,645,418.
Recently XTB has reported financial results for the first quarter of 2016, according to which its net profit has dropped YoY, but rises over the quarter.
X Trade Brokers Dom Maklerski SA (WSE:XTB), a.k.a. XTB, has debuted on the Warsaw stock exchange this year and just 10 days it has become public, XTB rated 7th among FX brokers in terms of Market Capitalization, outperforming Gain Capital, FXCM, Money Partners Group, KVB Kunlun and recently listed Hirose. The SMN Weekly team is closely watching stock price performance of FX brokers listed in 2016 and so far XTB seems to be the best.
Founded back in 2002, the Polish online forex broker X-Trade Brokers (XTB) is now established in more than 15 countries in Europe, South America and Asia. It offers trading in a wide range of currency pairs and CFDs through both its proprietary xStation and the famous MT4 platforms.