XTB Breaks 200,000 Clients Mark and Becomes Third Largest Broker in Poland

In November 2023, XTB, listed on the Polish Stock Exchange, surpassed 200,000 open accounts, making it the third-largest brokerage in Poland. The milestone means that of the 847,000 accounts managed by the fintech company worldwide, one in four belongs to customers from the largest economy in Central and Eastern Europe (CEE).

The news that XTB had achieved an important milestone in the Polish market, first reported last Friday, was confirmed this Monday by data from the National Depository for Securities (KDPW). In November, XTB gained almost 14,000 new clients and also saw a significant increase of 74,000 clients compared to the same period last year.

The rapid accumulation of retail traders has not only made XTB the third-largest broker in Poland (just 4,000 accounts behind the second-largest, BM Pekao) but also the broker with the most active growth in new clients. Of all new accounts opened in Poland in November, 78% belonged to XTB, compared to 62% in the same month last year.

At the end of November, XTB announced the creation of a new Artificial Intelligence (AI) division, led by Tomasz Gawron. This AI team is responsible for developing solutions that support the listed company's business operations and trading platforms.

In addition to new passive offerings, AI solutions are expected to help XTB maintain its strong momentum in acquiring new clients, while also contributing to revenue growth, which declined 29% in the third quarter due to reduced market volatility.

(Source: Finance Magnates)