| Updated: December 2, 2024The Polish forex market has witnessed considerable growth over the past few years, with an increasing number of residents engaging in online retail trading. Industry experts estimate approximately 80,000 Poles were actively speculating with contracts for difference and other forex derivatives in 2020. The number of forex broking firms catering to local traders is understandably also on the rise, making it increasingly difficult for Poles to find trusted brokers that cover all their individual criteria.
To make this process easier, we looked into dozens of companies operating on local soil and picked out the best brokers for forex trading in Poland. We spent hours on research to adequately evaluate all aspects of their operations and single out the brokers offering the most competitive trading conditions. The brokers featured on this page have established themselves as undisputed leaders in terms of regulatory compliance, competitive pricing, and order execution. Our team created live accounts with all recommended brokers to ensure they really live up to our high expectations and provide nothing short of a best-in-class forex trading experience.
Fusion Markets74-89% of retail CFD accounts lose money
Global Prime74-89% of retail CFD accounts lose money
Markets.com74.2% of retail investor accounts lose money
City Index69% of retail investor accounts lose money
Plus50082% of retail investor accounts lose money
FXCM70% of retail investor accounts lose money
Saxo Bank65% of retail investor accounts lose money
Swissquote61% of retail investor accounts lose money
IG70% of retail client accounts lose money
XM Group72.82% of retail investor accounts lose moneyPolish Forex Brokers Ranked by Trustpilot Score
| Forex Broker | Trustpilot Reviews | |
|---|---|---|
| 1. Fusion Markets | 1,862 | 4.9 ⭐ |
| 2. Global Prime | 161 | 4.5 ⭐ |
| 3. Markets.com | 1,198 | 4.4 ⭐ |
| 4. City Index | 334 | 4.2 ⭐ |
| 5. Plus500 | 14,038 | 4.1 ⭐ |
| 6. FXCM | 548 | 3.9 ⭐ |
| 7. Saxo Bank | 6,484 | 3.8 ⭐ |
| 8. Swissquote | 2,877 | 3.8 ⭐ |
| 9. IG | 7,200 | 3.7 ⭐ |
| 10. XM Group | 956 | 2.9 ⭐ |
Polish Forex Brokers Ranked by Spread Commission
| Forex Broker | EURUSD | USDJPY | EURGBP | GBPUSD |
|---|---|---|---|---|
| 1. Fusion Markets | 0.07 | 0.13 | 0.23 | 1.01 |
| 2. Global Prime | 0.13 | 0.28 | 0.28 | 1.11 |
| 3. Markets.com | 0.6 | 0.7 | 0.9 | 0.9 |
| 4. IG | 0.85 | 0.9 | 0.9 | 1.40 |
| 5. FXCM | 0.6 | 1.1 | 1 | 0.8 |
| 6. XM Group | 0.8 | 0.9 | 1.5 | 0.9 |
| 7. Saxo Bank | 0.9 | 1.2 | 0.8 | 1 |
| 8. City Index | 1.1 | 1.8 | 1.6 | 2 |
| 9. Plus500 | 1.2 | 1.5 | 1.5 | 1.5 |
| 10. Swissquote | 1.0 | 0.6 | 1.2 | 1.0 |
Polish Forex Brokers Ranked by Commission per Lot
| Forex Broker | Commission per lot |
|---|---|
| 1. Fusion Markets | $0 Classic Account, $4.50 round turn on Zero Account |
| 2. Global Prime | $0 Standard Accounts; $7 round turn on Raw Accounts |
| 3. XM Group | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account |
| 4. Saxo Bank | $3 per lot |
| 5. City Index | $0 |
| 6. Plus500 | $0 |
| 7. IG | $0 |
| 8. Swissquote |
|
| 9. FXCM | $0 |
| 10. Markets.com | $0 |
Important Note: Forex brokers must acquire licenses from the Komisja Nadzoru Finansowego (KNF) to legally provide their services in the country. Trading at KNF-authorized brokers is recommended, albeit not mandatory, if you wish to benefit from robust investor protections, fair trading conditions, and transparent pricing. Choosing a locally regulated broker will also significantly reduce your chances of falling victim to forex scams and investment fraud.
Top 10 FX Brokers in Poland
Fusion Markets Broker Details Supports Polish No Polish Currency (PLN) Yes Regulators ASIC, FSA (Seychelles), VFSC (Vanuatu) Min Deposit $0 Trading Platforms MetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingView Trustpilot Rating 4.9 out of 1,862 reviews Number of CFD Forex Pairs to Trade 90+ Leverage Forex & Metals CFDs: 1:30 (1:500 for forex and metals via VFSC)
Index CFDs: 1:5
Cryptocurrencie CFDs: 1:2 (ASIC), 1:10 (FSA, VFSC)Spread EURUSD: 0.07
USDJPY: 0.13
EURGBP: 0.23
GBPUSD: 1.01Forex Commission per Lot per Trade $0 Classic Account, $4.50 round turn on Zero Account Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinity Withdrawal Methods Visa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay Key Pros
- Offers some of the lowest spreads
- ASIC clients enjoy a negative balance protection
- Supports popular trading platforms
- Offers two copy trading platforms
- Supports fiat and crypto payment solutions
Key Cons
- Does not offer investor protection
- Traders outside Australia have no negative balance protection
- Cannot set up an account in a minor currency
- Has no FCA license
Global Prime Broker Details Supports Polish No Polish Currency (PLN) No Regulators ASIC (No. 385620), VFSC (No. 40256) Min Deposit $0 Trading Platforms MT4 Desktop, MT4 Webtrader, MT4 Android Trustpilot Rating 4.5 out of 161 reviews Number of CFD Forex Pairs to Trade 56 Leverage Forex & Metals CFDs: 1:500 (1:30 for ASIC entity)
Index CFDs: 1:100 (1:20 for ASIC entity)
Cryptocurrencie CFDs: Up to 1:2 (ASIC); Up to 1:5 (Pro and VFSC)Spread EURUSD: 0.13
USDJPY: 0.28
EURGBP: 0.28
GBPUSD: 1.11Forex Commission per Lot per Trade $0 Standard Accounts; $7 round turn on Raw Accounts Deposit Methods Visa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, Crypto Withdrawal Methods Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
Key Pros
- Overseen by a top-tier financial regulator (ASIC)
- No fees on deposits and withdrawals
- Low fees for FX trading
- Streamlined sign-up process
- A broad range of currency pairs
Key Cons
- Could use more trading platforms
- A limited range of educational resources
- Does not offer Islamic or cent accounts
XM Group Broker Details Supports Polish Yes Polish Currency (PLN) No Regulators (ASIC) (ref. No. 443670), FSC (license no. 000261/397), DFSA (ref. no. F003484), CySEC (license no. 120/10), CFTC; Registrations for EU passporting: - BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FSA (Sweden) Min Deposit $5 Trading Platforms MetaTrader 4 and 5, MetaTrader 4 and 5 on mobile, MT4 WebTrader, MT5 WebTrader, MT4 Multiterminal Trustpilot Rating 2.9 out of 956 reviews Number of CFD Forex Pairs to Trade 50+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.8
USDJPY: 0.9
EURGBP: 1.5
GBPUSD: 0.9Forex Commission per Lot per Trade $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account Deposit Methods Visa, Mastercard. Skrill, Bank Transfer, Neteller, Apple Pay, Google Pay, UnionPay, Maestro Withdrawal Methods Visa, Mastercard, China Union Pay, Skrill, Neteller, Bank Transfer Key Pros
- Traders can choose from over 10 platforms
- Covers a great number of currency pairs
- Regulated by major authorities
- Offers smooth trading on the go
- Supports different account types with tight spreads and low fees
Key Cons
- Trading platform’s design seems outdated
- Not listed on stock exchange
- Charges an inactivity fee
Saxo Bank Broker Details Supports Polish Yes Polish Currency (PLN) Yes Regulators FCA (No. 551422), FSA Denmark (No. 1149), MAS (No. 200601141M), ASIC (No. 32110128286), SFC Hong Kong (No. 1395901), FSA Japan (No. 0104-01-082810) Min Deposit $0 Classic$200,000 + Platinum $1,000,000 + VIP Trading Platforms SaxoTraderGO, SaxoTraderPRO, TradingView, SaxoInvestor Trustpilot Rating 3.8 out of 6,484 reviews Number of CFD Forex Pairs to Trade 185+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.9
USDJPY: 1.2
EURGBP: 0.8
GBPUSD: 1Forex Commission per Lot per Trade $3 per lot Deposit Methods Visa, Visa Electron, Mastercard, Maestro, Bank Transfer, Quick Payment Withdrawal Methods Bank Transfer Key Pros
- Offers a varied range of major, minor, and exotic FX pairs
- Provides tier-1 liquidity for high order fill rates
- Boasts over 30 years of experience in the financial industry
- Offers more than 140 FX forward contracts
- Excellent fill rates for FX majors like EUR/USD
Key Cons
- Steep minimum deposits for VIP and Platinum accounts
- Overcrowded and hard-to-navigate website
- Customizing SaxoTraderPRO for desktop takes some time
City Index Broker Details Supports Polish No Polish Currency (PLN) No Regulators FCA (No. 446717), CySEC (No. 400/21), MAS, ASIC Min Deposit $0 Trading Platforms MT4, WebTrader, Trading App, TradingView Trustpilot Rating 4.2 out of 334 reviews Number of CFD Forex Pairs to Trade 84 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.1
USDJPY: 1.8
EURGBP: 1.6
GBPUSD: 2Forex Commission per Lot per Trade $0 Deposit Methods Visa, Visa Electron, Mastercard, Maestro, PayNow, Bank Transfer, Online Banking, PayPal, PayID, BPAY, EFT Withdrawal Methods Mastercard, Visa, Visa Electron, Maestro, PayPal, Bank Transfer Key Pros
- No commissions on spot forex and CFD trades
- Lightning-fast speed of order execution
- Long track record spanning over 40 years
- Over 1 million registered customers
- Excels in delivering quality educational content
Key Cons
- No support for MT5 for the time being
- Higher min. deposit requirements compared to rival brokers
- Stores client funds in top-tier banks like J.P. Morgan
Plus500 Broker Details Supports Polish Yes Polish Currency (PLN) Yes Regulators FSA (No.4.1-1/18), FCA (No. FRN 509909), CySEC (No.250/14), FMA (No.47546), SFSA (No. SD039), MAS (No. CMS100648), DFSA (No. F005651), ASIC (No. 417727), BaFin registration, SCB (SIA-F250) Min Deposit $100 Trading Platforms Proprietary desktop and mobile platforms Trustpilot Rating 4.1 out of 14,038 reviews Number of CFD Forex Pairs to Trade 60+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2 (1:5 via FSA)Spread EURUSD: 1.2
USDJPY: 1.5
EURGBP: 1.5
GBPUSD: 1.5Forex Commission per Lot per Trade $0 Deposit Methods Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay Withdrawal Methods Debit Visa/Mastercard, Wire transfer, Apple Pay, Google Pay Key Pros
- Trades publicly on the London Stock Exchange
- Commission-free CFD trading with tight spreads
- Great selection of analytical tools and educational materials
- Easy and quick account opening
- Provides real-time quotes
Key Cons
- Charges administrative fees on inactive accounts
- The platform could use more customization features
IG Broker Details Supports Polish No Polish Currency (PLN) No Regulators ASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda) Min Deposit $50 Trading Platforms MT4, L2 Dealer, ProRealTime, IG proprietary software, TradingView Trustpilot Rating 3.7 out of 7,200 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.85
USDJPY: 0.9
EURGBP: 0.9
GBPUSD: 1.40Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAY Withdrawal Methods Visa, Visa Electron, Mastercard, Discover, Bank Transfer Key Pros
- Towering selection of over 17,000 tradable markets
- Listed on the FTSE 250 index
- Competitive pricing and low forex spreads
- No fees on deposits or withdrawals
- Demo accounts for risk-free forex trading practice
Key Cons
- Payment options are a bit limited
- Customer support is slow to respond during busy hours
Swissquote Broker Details Supports Polish No Polish Currency (PLN) No Regulators FCA, MFSA, FINMA, DFSA, MAS, CySEC, FSC, FSCA Min Deposit $1,000 Trading Platforms CFXD, MetaTrader 4, MetaTrader5 Trustpilot Rating 3.8 out of 2,877 reviews Number of CFD Forex Pairs to Trade 80+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 1.0
USDJPY: 0.6
EURGBP: 1.2
GBPUSD: 1.0Forex Commission per Lot per Trade - $/€0 on Premium and Prime Accounts;
- $/€2.5 per side per lot for Elite Accounts
Deposit Methods Visa, Mastercard, Bank Transfer, Online Banking Withdrawal Methods Visa, Mastercard, Bank Transfer, Online Banking Key Pros
- Publicly traded reputable brand
- Broker with extensive experience in trading
- Offers competitively low spreads
- Supports various trading platforms
- Forex traders can choose from over 80 currency pairs
Key Cons
- Traders must pay an inactivity fee
- Desktop trading platform looks a bit outdated
- Trading fees tend to be higher
FXCM Broker Details Supports Polish Yes Polish Currency (PLN) No Regulators FCA, CySEC, ASIC, FSCA, ISA, IIROC Min Deposit $50 Trading Platforms MetaTrader 4, TradingView Pro, Trading Station, Capitalise.ai Trustpilot Rating 3.9 out of 548 reviews Number of CFD Forex Pairs to Trade 40+ Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.6
USDJPY: 1.1
EURGBP: 1
GBPUSD: 0.8Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, Bank Transfer, Neteller, Skrill, Google Pay, Open Banking, Apple Pay, PayPal, Paysafecard Withdrawal Methods Visa, Mastercard, Bank Transfer, PayPal, Neteller, Skrill Key Pros
- Offers up to 1:1,000 leverage on all new accounts
- Supports popular trading platforms
- Does not charge depositing and withdrawal fees
- Regulated by multiple top-tier regulators
- Offers competitive spreads
Key Cons
- Charges a rather high inactivity fee
- Offers limited number of products
- Number of currency pairs is average
Markets.com Broker Details Supports Polish No Polish Currency (PLN) No Regulators ASIC (license no. 424008), FCA (license no. 481853), CySEC (license no. 092/08), FSCA (license no. 46860), FSC (license no. SIBA/L/14/1067), FSA (license no. 27030 BC 2023) Min Deposit $100 Trading Platforms MetaTrader 4, MetaTrader 5, WebTrader, Mobile App, TradingView Trustpilot Rating 4.4 out of 1,198 reviews Number of CFD Forex Pairs to Trade 54 Leverage Forex & Metals CFDs: 1:30
Index CFDs: 1:20
Cryptocurrencie CFDs: 1:2Spread EURUSD: 0.6
USDJPY: 0.7
EURGBP: 0.9
GBPUSD: 0.9Forex Commission per Lot per Trade $0 Deposit Methods Visa, Mastercard, PayPal, Apple Pay, Skrill, Neteller, Bank Transfer Withdrawal Methods Visa, Mastercard, PayPal, Apple Pay, Skrill, Neteller, Bank Transfer Key Pros
- Offers tight spreads and low fees for FX traders
- Traders can choose from over 50 currency pairs
- Supports a wide range of payment methods
- Mobile trading available through dedicated app
- Supports popular trading platforms
Key Cons
- Offers only CFD and FX products
- Charges inactivity fee
- No dedicated platform for copy trading
Is Forex Trading Legal in Poland?
Trading forex currency pairs is completely legal in Poland but requires authorization from the country’s financial watchdog, the Komisja Nadzoru Finansowego (Polish Financial Supervision Authority). Locally authorized forex brokers adhere to stringent guidelines and maintain high levels of investor protection. They are sufficiently capitalized and submit quarterly reports about the loss and profit percentages of their clients.
Compliant brokers must also provide clients from the Polish market with adequate educational resources to ensure they properly understand the risks associated with speculating on derivatives like options, futures, and contracts for difference. They must confirm local retail customers have enough knowledge and experience in derivative trading before allowing them to use leverage.
KNF-compliant brokers are fully transparent about their pricing and fill traders’ orders at the best possible ask-bid spreads. Various protections are in place to safeguard Polish traders and their assets. These include offering negative balance protection, client funds segregation, and restrictions on the maximum leverage available to retail traders speculating with contracts for difference (CFDs).
Forex Trading Regulators in Poland
Companies offering forex broking services in Poland require authorization from the Komisja Nadzoru Finansowego (KNF) and are constantly under its surveillance. The regulatory body was established in 2006 after the Financial Market Supervision Act passed into law. This legislation effectively transferred all financial regulatory responsibilities from the Polish Securities and Exchange Commission to the newly created KNF, giving it full autonomy in monitoring all financial services providers operating in the country.
The KNF plays a vital role in maintaining the stability of the local financial market and is largely regarded as one of the strictest regulatory bodies in the European Union (EU). It issues licenses to approved forex brokers and oversees their operations to ensure they are fully compliant with Poland’s financial legislation. As a member of the EU, Poland also falls under the regulatory scope of the European Securities and Markets Authority (ESMA).
Forex broking firms serving the local market must adhere to MiFID (Markets in Financial Instruments Directive). This far-reach legislation extends to all EU and EEA countries and enables EU-regulated brokers to legally service traders from Poland. With this in mind, it is recommended to trade forex with companies regulated in Poland as this will give you access to maximum regulatory protections.
How to Identify Forex Brokers Authorized in Poland
Poles should always verify their forex brokers are properly regulated before registering at any trading platform. In doing so, they considerably reduce their chances of becoming victims of forex scams and gain access to the best possible trading conditions. Checking KNF’s official register of authorized companies is the easiest way to confirm the regulatory status of your broker.
If the company is registered in Poland or the EU, it will appear in the database. The register provides detailed information about featured firms, including their registered address, home states, and the supervisory authorities regulating them. Many companies operate on Polish soil with licenses obtained from other EU regulatory bodies, with the Cyprus Securities and Exchange Commission (CySEC) serving as a prominent example.
Security at Polish Forex Brokers
Poland’s regulatory framework mimics the requirements introduced by ESMA under MiFID. Various protective measures are in place to safeguard residents of the country from investment fraud, business collapses, and unethical practices. Brokers doing business in Poland must comply with certain restrictions on leveraged derivative products, starting with leverage caps that limit local traders’ maximum market exposure.
Providing negative balance protection is a common practice all regulated brokers have adopted to prevent the balance of retail traders from slipping into the red zone. It is coupled with a closeout mechanism that automatically liquidates losing positions once a trader’s balance drops below the threshold required to maintain them. Minimum retail margin requirements are set at 50% in EU countries, including Poland.
Forex brokers regulated in Poland must additionally provide disclosures warning retail customers about the financial risk involved in entering into contracts for difference. Said disclosures must inform potential clients about the percentage of retail traders losing money through CFD trading at the respective broker.
Each retail client must complete a brief questionnaire, allowing brokers to determine whether they are experienced enough to trade high-risk derivatives. Customers who fail to pass this standardized test are denied access to leverage and cannot enter into such derivative contracts.
Clients must have access to accurate and up-to-date forex price quotes. Their orders should be filled at the best possible pricing. Poles trading with regulated brokers have no reason to worry about brokers misusing their funds. Broking firms in the country champion robust compliance with EU fund segregation rules.
They never use client money for operating expenses as traders’s funds are kept separately from brokers’ operating capital. Also, all authorized brokerages participate in investment compensation schemes serving as safety nets against potential bankruptcies. Should a broker go bust, their retail clients can claim up to €20,000 in compensation per person.
Negative Balance Protection at Polish Forex Brokers
As we previously mentioned, Pole-friendly forex brokers must provide negative balance protection (NBP) to all retail customers who engage in CFD trading with leverage. This mechanism is beyond useful as it prevents inexperienced traders from losing more than the amount deposited in their accounts. In other words, it protects customers from becoming indebted to their brokers in the event of unexpected market caps.
Brokers offering this risk-management tool implement automatic margin calls to close all rapidly declining leveraged positions in retail accounts. The NBP mechanism enables customers to better manage their volatility and take advantage of higher leverage without worrying about their accounts ending up in the red.
Taxes on Forex Trading Profits in Poland
Traders from Poland should keep in mind profits derived from forex trading are treated as taxable income. Personal income taxes in the country range from 17% to 32%. It is important to specify that earnings from cryptocurrency trades are liable for capital gains taxes of 19%. Navigating the legal tax landscape is no easy task, especially if one lacks experience in trading. If you are unsure how to report your forex-related income to the local tax authorities, it would be best to consult a professional tax advisor to avoid getting into legal trouble.
Comparing Maximum Leverage at Polish and Offshore Forex Brokers
According to recent data published by the Polish financial regulator, over 73% of all active retail traders in the country incurred losses from leveraged derivatives in 2023. Margin trading carries a significant risk for inexperienced investors but financial danger is at least partially mitigated by the introduction of leverage caps.
Poland was one of the first countries to enforce restrictions on the maximum leverage accessible by retail clients. The country decided to cut down leverage to 1:100 in 2015 after KNF established that many Pole-friendly brokers offer unreasonably high ratios of 1:500 or more.
Leverage caps in Poland largely align with those in all other EU countries under MiFID. Retail clients trading in forex majors can leverage their positions at a ratio of no more than 1:30. The rates are lower for forex crosses and exotic pairs at 1:20 due to their higher volatility and coincide with those for gold and major index CFDs.
The caps for other commodities and indices are set at 10:1. Stock and cryptocurrency traders can leverage their positions at maximum rates of 1:5 and 1:2, respectively. Experienced traders from Poland have access to higher leverage, as you shall see shortly.
Experienced Retail Trader Requirements in Poland
One unique aspect of the Polish regulatory framework is that it makes a distinction between two types of retail traders, inexperienced and experienced. The category of “experienced” retail traders was introduced in 2019, providing access to leverage ratios as high as 1:100. Customers interested in switching to “experienced retail client” status must submit written requests to their brokers.
| Leverage Caps for Experienced Retail Traders in Poland | |
|---|---|
| Major Forex Pairs | 1:100 |
| Forex Crosses | 1:100 |
| Major Indices and Gold | 1:100 |
| Other Commodities and Indices | 1:10 |
| Individual Stocks | 1:5 |
| Cryptocurrencies | 1:1 |
To gain approval, applicants for this classification must have opened 10 or more leveraged positions per quarter, of €50,000 each, during the previous four quarters. At least 50 or 40 positions are needed if the nominal value of your leveraged transactions amounts to €10,000, and €2 million. Retail clients must confirm they are experienced enough by presenting certificates from their brokers, investment advisors, or professional risk managers.
The alternative is to provide a certificate for the successful completion of a derivative training course, comprising 50 or more hours. Employment in the financial sector for one or more years will also do if you fail to meet the previous two requirements. Experienced retail traders can take advantage of higher leverages for forex pairs, gold, and several major equity indices, including FTSE 100 and NASDAQ.
Forex Trading Platforms at Polish Brokers
When looking for a new broker, Poles should take the time to check what software it implements and preferably test it by setting up a free demo account. The best forex brokers operating on Polish soil typically work with powerful software capable of delivering lightning-fast order execution. Some broking firms develop proprietary platforms, each with unique features and capabilities. Others prefer to use software created by third-parties like MetaQuotes and Spotware.
To make an informed choice, Polish traders should consider their frequency of trading, style, and experience level. MetaQuotes’ MetaTrader 4 (MT4) is broadly implemented by Pole-friendly brokers and is suitable for beginner traders. It comes with a relatively intuitive interface and a diverse range of features, including one-click and automated trading with the help of expert advisors. MetaTrader 5 (MT5) is the improved version of MT4, giving you access to more technical indicators, among other features, but is slightly less user-friendly.
Spotware’s cTrader is another robust alternative for Polish forex traders but is not as broadly supported as MT4 and MT5. It is ideal for high-frequency day trading and algorithmic trading. Additionally, it supports copy trading, allowing users to follow successful traders from around the world and replicate their positions in their own portfolios.
In this section, Polish traders can find external links leading to the official website and licensee register of their local financial watchdog. Feel free to check these links if you wish to conduct some research into Polish forex regulations on your own. Also included are links to the websites of major EU licensing authorities like CySEC whose licenses are valid on Polish soil.
- The Komisja Nadzoru Finansowego (KNF) supervises all segments of the local financial market, including forex brokerages, investment firms, and banks. It took over from the now-defunct Securities and Exchange Commission and the Pension Funds Supervisory Commission in 2006.
- The KNF maintains a public register Polish traders can check to validate the regulatory status of their brokers. Poles can conveniently find relevant companies by entering their full or partial names in the search box.
- Consult the list of approved forex trading domains in Cyprus as CySEC licenses are valid in Poland as well.
- Fill out this form to seek assistance and mediation from Poland’s Financial Ombudsman. Online complaints require a valid electronic signature.
- Follow the KNF on social media to keep up to date with the regulator’s latest announcements and decisions. The KNF is active on popular platforms like Instagram, X, and Facebook. Poles can additionally listen to the KNF podcasts on Spotify and Apple Podcasts.