XTB Broker expands to UAE in 2021, after South Africa

X-Trade Brokers will start new operations in the United Arab Emirates in the first half of 2021, but its president Omar Arnaout said the effects from entering the new market will only be visible after some time.

XTB representatives informed that in the case of the previously announced entry into the South African market, the situation did not change.

Poland’s share in the first quarter of 2021 in the revenues of the XTB group was 38%. The share of other countries in the geographical structure of revenues never exceeded 15%. The second-largest market for XTB is Spain with a share of 14%.

The net profit of the X-Trade Brokers DM group in the first quarter of 2021 amounted to PLN 89.1 million compared to PLN 176 million profit a year earlier – according to preliminary estimates published by the company. Revenues dropped to PLN 186.7 million from PLN 306.7 million a year ago. Operating profit amounted to PLN 99.8 million. In the first quarter of 2020, it amounted to PLN 234.1 million.

As reported, the group acquired a record number of new customers, i.e. 67,231, which means an increase by 75%.

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