XTB record: 100,000 new clients in 1 month!

XTB announced that over 100,000 people joined its investment app in October, representing, according to the broker, the largest monthly increase in new users in the company's history.

Record Month for XTB
The brokerage firm stated that October was its best month ever in terms of new customer sign-ups. It described this figure as proof that its current strategy continues to attract a growing number of investors.

The company noted that individual participation in the financial markets continues to expand, as more and more people manage their investments independently via mobile platforms.

In addition to the increase in users of its investment apps, XTB's customer base has recently seen strong growth. Last year, the brokerage firm announced that it had surpassed the one million mark. This significant milestone follows the expansion of the broker's offering, which now includes stocks, exchange-traded funds (ETFs), and contracts for difference (CFDs).

Since the end of 2021, XTB's customer base has doubled, an increase driven by its strategic expansion and the growing adoption of digital investment platforms.

Customer Growth in Recent Years
In 2023 alone, XTB reportedly added 311,000 new customers to its platform. The company subsequently reported consolidated net income of 174 million euros and revenue of 351 million euros, marking a record year and highlighting the effectiveness of its expansion strategy in the competitive global fintech landscape.

Apps appear to be gaining traction among major brokers. The NAGA Group recently announced the upcoming launch of its next-generation financial platform, NAGA ONE, scheduled for the fourth quarter. The Hamburg-based fintech company aims to combine payment, investment, and trading services into a single app, replacing its existing NAGA Pay service.

NAGA ONE will reportedly offer personal IBAN accounts, virtual and physical debit cards, SEPA transfers, and instant account funding for trading.

While app adoption is on the rise, a recent study shows that cost is no longer the sole deciding factor. In the US, retail investors are increasingly evaluating brokers based on their digital experience as much as their cost.

Key Factors in Financial App Adoption
According to research by Investment Trends, the functionality of mobile apps and web platforms is now considered, along with fee structures, a key factor in choosing a broker.

The study found that a poorly designed interface has become the primary reason investors switch brokers, surpassing concerns about trust and customer service. Investment Trends observed similar trends in the German market six months ago, indicating that one in six traders had switched brokers for reasons other than cost, including transparency, simplicity, and innovation.

About XTB

XTB Group is a leading provider of crypto CFDs alongside 2,100 forex, stock, index, commodity and ETF CFDs. The multi-regulated broker holds licenses with several trusted agencies, including the UK's Financial Conduct Authority (FCA) and the Cyprus Securities & Exchange Commission (CySEC).

Clients can invest and speculate with up to 1:30 leverage and can use the broker's mobile trading alert service to gain market insight. XTB offers two real accounts, aimed at retail traders and professional investors.