XTB stock sinks on weaker than expected Q3 results

XTB stock sinks on weaker than expected Q3 results

- in All News, Forex Brokers
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Polish forex brokerage X-Trade Brokers, trading as XTB (WSE:XTB), saw on Tuesday its shares reaching their all-time lowest price of PLN 6.57 after it announced disappointing financial and trading results for Q3 2016.

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X-Trade Brokers Dom Maklerski SA  financial results:

* Q3 preliminary net profit 4.2 million zlotys ($1.1 million)versus 50.9 million zlotys year on year

* Q3 preliminary operating revenue 42.8 million zlotys versus 95.7 million zlotys year on year

XTB debuted on the WSE in early May 2016 with the release of some 117.4 million shares. Currently, the broker’s market capitalization stands at PLN 810 million.

XTB was founded in 2002 and is now established in more than 15 countries in Europe, South America and Asia. It is the leading forex broker in Central and Eastern Europe. The broker provides online trading in over 1500 instruments, including forex, indices, shares, commodities and ETFs. It offers three types of live trading accounts and does not require a minimum deposit. Trading can be done on two platforms – the MetaTrader 4 and the broker’s proprietary xStation. The broker’s various subsidiaries are regulated by UK’s Financial Conduct Authority (FCA) and Poland’s financial supervision commission (KNF).

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