The UK arm of Polish brokerage XTB generated a total revenue of £4.9 million in 2016, posting a drop of 36% from a year earlier, according to a filing published on the website of UK’s trade register Companies House. The significant drop was the result of a 50% decline in institutional revenue to £275,315. The broker’s revenue from retail operations went up by 14% to some £4.7 million in 2016.
XTB UK’s net profit also halved to £132,047 last year, compared to £268,374 in 2015. Meanwhile, the broker’s assets went up to nearly £3.8 million at end-2016 from £2.8 million a year earlier.
In comparison, according to data published last week, in 2016 the XTB group generated a consolidated net profit of €17.8 million, or down by 37.6% on the year, while its assets totaled €180.1 million (up from €170.6 million at end-2015).
XTB UK is regulated by the UK’s Financial Conduct Authority (FCA) and is part of XTB Group with a Polish-based X-Trade Brokers Dom Maklerski as a holding company. The broker offers trading in more than 50 spot forex pairs, indices, shares, commodities, and exchange traded fund (ETFs).