Polish brokerage group XTB announced its results for the third quarter on Thursday.
The company posted revenues of PLN 470.2m ($117.6m) for the quarter, with a net profit of PLN 203.8m ($51.0m).
Perhaps the most notable part of the report was the continually gigantic levels of client acquisition that the company is achieving.
According to the broker, in the third quarter of this year 108,104 clients signed up to trade with XTB.
That was on the back of marketing spend of PLN 71.6m ($17.9m) over the quarter. This means the average client acquisition cost for the firm was just PLN 700 ($175).
To put that in perspective, the average client acquisition cost for Plus500 in Q3 was $1,517.
XTB has onboarded more than 100,000 clients every quarter so far in 2024. Total client acquisition for the year stands at 340,420.
