XTB Deposit Fee Free Crypto Broker Expands to Middle East and South Africa in 2022 and Beyond

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Cryptonewsz reports that in a submission to its Q4 report, XTB, a Poland-based retail broker, noted a 69% increase in profits. The company’s operating income had also risen by 31.2% year-over-year.

The growth ended up with the Polish broker amassing 183.6 million PLN, attracting numerous traders and investors. However, given the complexity of the financial market, users rely on detailed reviews for the ventures. XTB has been seeing a rise in popularity recently. XTB is a reputable, multi-asset, and deposit-fee-free broker that has assisted millions of traders throughout the world. This broker, which was founded twenty years ago, has made history by assisting many traders with its broad selection of conventional and contemporary trading tools, education resources, and more. Traders should look at this unbiased and comprehensive online XTB broker review for details about the platform.

Besides the growth in the quarterly revenue, the broker also amassed a net profit of 238.3 million PLN. The number accounted for a 69% growth with a 47.1% year-over-year growth in EBIT, reaching 83 million PLN. However, all did not go well for the broker as its overall yearly figure fell compared to 2020.

XTB generated over 625.6 million PLN in operating revenue and 238.3 million PLN in net profits. The amounts convert to 21.6% and 40.7% reduction for the broker.

On the other hand, XTB improved its client acquisition in terms of both quarterly and yearly numbers. The last three months of 2021 helped the broker onboard 42,760 clients, which is 11.3% higher than 2021. In terms of a full-year review, the amount surged by 69% to reach 189,187.

XTB is also expanding its footprints in foreign markets, especially in Africa and the Middle East. Moreover, the broker launched its MENA subsidiary in October 2021 while it is waiting to commence operations in South Africa. Given the pace at which XTB is increasing its reach, South African users can expect to receive its services soon.

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