Currency trading and brokers in Poland

Poland, birthplace of delicious food Pierogi, is a Central European country with 37.7 million inhabitants and a gross domestic product of 524 billion euros, which places the country seventh among the largest European economies.

Its capital, Warsaw, is home to the Warsaw Stock Exchange, the history of which dates back to 1817. The country experienced considerable economic growth after its transition to democracy following the fall of the Soviet Union in the late 1980s. .

Both production and gross domestic product grew significantly in the years that followed, with Poland recording an average GDP growth rate of around 4 % between 1990 and 2000. Today Poland can boast a diversified economy, with well-developed service, industrial and agricultural sectors. The country is one of the largest producers of crops such as potato, wheat, rye and sugar beet globally.

Poland reorganized its banking sector after the dissolution of the Soviet Union. The National Bank of Poland, which was previously state-owned, has become an independent central financial entity, responsible for regulating the Polish banking sector and the local currency, the Polish zloty (PLN). The end of the communist era also had a great impact on the Polish business sector.

Currently, the country has strong trading partners against other major European economies such as Germany, Czech Republic, UK, France, Italy and the Netherlands. The largest and oldest index on the Warsaw Stock Exchange is the Warszawski Indeks Giełdowy (WIG) which includes 318 large companies.

Considering the favorable economic climate in the country, it is understandable that Poles want to earn a little more from trading in the forex market. The PLN is the 22nd most traded currency in the world in 2016, accounting for 0.7 % of the overall turnover of Forex transactions in Poland during this year.

The country has a mature Polish Forex sector, regulated by the local supervisory authority, the Polish Financial Supervisory Authority (Komisja Nadzoru Finanswego - KNF). Poles have a wide range of rigged brokers with which they can trade currency pairs, commodities, indices and stocks, among other financial instruments (Forex in Poland).


Licence de Forex en Pologne


Forex legislation in Poland

Trading in the Forex markets in Poland is completely legal on Polish soil. Brokerage firms wishing to offer their services to local traders can do so provided they receive a license from the Polish Financial Supervisory Authority (KNF). There are certain conditions that need to be met during the Poland Forex license application process.

Applicants must provide all necessary documents, including a list of shareholders and subsidiaries, information on board members and their qualifications, and the substantial minimum capital available to the companies. Registrants must also establish a local branch in Poland. We provide Forex companies in Poland with the capital that has been previously deposited and then withdrawn, so you do not have to deposit capital to set up a Forex company in Poland.

It goes without saying that this stable regulatory framework benefits local traders. It protects them and guarantees them fair trading conditions. Poland is also a member of the European Union and as such has chosen to unify some of its capital market rules with those of other EU countries under the regulation of the Directive on markets in financial instruments (MiFID).

MiFID grants brokers licensed in the EU the right to serve clients from all other member states. Of course, this legislation gives individual members the right to manage their own Forex legislation, but they must nevertheless remain in compliance with EU rules and guidelines.

Some brokers choose to get their Forex license in Poland from KNF to benefit from tax exemption and low license and labor costs. One of the priorities of the Polish regulator is to ensure a safe, transparent and fair trading environment for small local traders.

The Polish regulator capped maximum leverage for complex derivatives at 100: 1 with a margin of 1 % for clients who are reclassified as "experienced private trader". To be eligible for this category, traders must provide proof that they have processed at least forty large transactions on various instruments in the past two years. CFD transactions must have a face value of at least 50,000 euros each, or an equivalent amount in PLN, the local currency. Ten such transfers are required per quarter for Forex companies in Poland.

Experienced retail traders should have a good knowledge of how derivatives work and provide a relevant certificate to justify it. The leverage of 100: 1 with a margin of 1 % of the face value of CFDs applies to basic instruments like currency pairs, major stock indexes like the Dow Jones and NASDAQ, and gold .

KNF has introduced these measures despite strong criticism from ESMA, which recommends limiting leverage to 30: 1 in Europe. The European regulator has argued that the new debt ratio is extremely disproportionate to the rates allowed in other member states.

The Polish watchdog was not impressed by this disapproval. The regulator backed its decision to raise the caps by explaining that it sought to prevent local traders from registering on offshore websites that operate without the necessary authorization from the Financial Market Supervisory Authority. The leverage is usually much higher there, reaching 500: 1 in some cases.

In the meantime, retail investors who cannot be reclassified as experienced will face a debt to equity ratio of no more than 50: 1. The Polish authorities had previously forecast a 25: 1 cap with a margin of 4 % for inexperienced traders, but then rejected this idea.

KNF argues that higher leverage for certain categories of investors is not necessarily as bad as ESMA says. The Polish regulator also requires brokers to publish quarterly reports with the results of their clients when trading CFDs. Brokers who break the new rules are subject to a financial penalty of PLN 5 million.


Financial regulators in Poland

The main supervisory body for the financial sector in the Land of Fields is the Polish Financial Supervisory Authority (KNF). This entity supervises Forex brokers in Poland, capital markets, banking institutions, pension schemes and insurance companies.

The supervisory body was created in autumn 2006 following the application of the law on financial market supervision adopted earlier that year. It replaced the previous financial regulators, the Insurance and Pension Funds Supervisory Commission and the Polish Securities and Exchange Commission. Both were abolished under the same piece of legislation that led to the creation of the KNF.

To operate in Poland, brokers must receive authorization from this regulator and register in the country. This rule aims to put an end to the activities of foreign companies which provide investment services without having a registered local trademark.

The security of Polish investors is one of the main priorities of the KNF which has taken a proactive approach to prevent Poles from trading on unauthorized foreign platforms. Traffic filtering is in place to prevent access to such brokerage firms. Telecommunications companies are required to identify and report unlicensed brokers in Poland.

The KNF was one of the last European regulators to enforce a permanent ban on trading in binary options. This measure was introduced in July 2019, it prohibits the advertising, distribution and sale of these complex derivatives to retail traders based in the country. According to the regulator, these speculative products are far too volatile for retail investors to trade them. The watchdog says binary options are closer to gambling than investing.


Methods to fund a trading account in Poland

Many well-known brokers offer Poles the option of opening accounts in PLN as their base currency, which saves them from having to pay extra for the conversion. Potential customers can test the platforms by creating demo accounts. Those who feel ready to commit with real money can register live accounts and fund them with one of the many supported payment methods.

Domestic bank transfers in PLN are among the most popular solutions, but not the fastest, with a market share of up to 90 % of Polish e-commerce. They can take from several hours to several working days, depending on the policies of the broker concerned.

International bank transfers are even slower, taking three to five business days to process. On a positive note, some of the biggest brokers in the Polish market have chosen to remove additional fees for domestic and international bank transfers.

Debit and credit cards are generally available on Polish trading sites, the most popular brands of which are Visa, Maestro, JCB and Mastercard. Card payments are usually instant and work for both deposits and withdrawals. Many brokers do not charge fees for card transactions, although your credit card provider may charge you additionally.

Electronic wallets like Skrill, Neteller and PayPal are another solution for traders who make deposits from Poland. The largest foreign exchange service providers offer locally available payment solutions, such as the Polish Przelewy24.

This system allows local traders to transfer money to brokers directly from their online bank accounts. To do this, the beneficiary must be a customer of one of the 324 associated Polish banks and register for its online banking services.

Other methods suitable for Land of Fields depositors include PayU and Dotpay. Dotpay is associated with more than 30 local banks. It allows Poles to process payments by credit card or wire transfer. All the customer has to do is select their bank from the list, fill in the requested information and confirm the payment.

PayU is another locally available method whose intuitive panel makes it incredibly easy to use. PayU system payments can be conveniently made through various options including credit cards, bank transfers and money transfers. Once the money transfer is complete, Polish traders receive a confirmation email.


Trading platforms available in Poland

All good Polish brokers allow trading on currency pairs, commodities, exchange traded funds (ETFs), stocks and indices through sophisticated platforms. Polish traders generally have access to MetaTrader 4 (MT4) from MetaQuotes, which crushes all other platforms in terms of popularity and distribution.

Launched in 2005, MT4 is starting to show its age, which does not prevent Poles from preferring it to newer trading platforms. MT4 is particularly popular among smaller forex traders. This is completely understandable given the intuitive aspect of its presentation. Professional investors are also very enthusiastic about MT4, as the platform comes with a host of very handy tools for analyzing financial markets.

With this in mind, you should consider choosing a broker that offers the new version of the platform, MetaTrader 5 (MT5), if you plan to expand your trading portfolio. MT5 offers support for several additional financial instruments. In addition to forex, it allows you to trade options, stocks, bonds, futures and indices. This new version is even richer in useful tools and features. It has more time frames, analytical objects, pending order types, symbols and technical indicators.

Some Polish brokers address their clients using other trading platforms. Some of the more widely available alternatives include cTrader and ZuluTrade, although there are also brokers who develop their software in-house.


Mobile trading in Poland

Mobile devices have become an absolute necessity for Poles who use them for all kinds of activities, including keeping in touch with friends and family, doing business, sending emails, browsing the internet or making calls. online shopping. A growing number of Poles are also using it for transactions when they are away from home.

But how is it that mobile trading is gaining so many followers among the residents of the country? The ability to react quickly to market price fluctuations is beneficial, if not crucial, for all forex traders, especially those dealing with major currency pairs whose prices can change in a millisecond.

Polish investors in the forex market can monitor the markets anytime, anywhere, using native iOS and Android apps. Polish brokers put tons of effort into building specialized, highly functional applications that faithfully mimic the desktop experience. You benefit from the same features and tools as those offered by desktop platforms.



1. Are there advanced risk management tools that I can use?
There are indeed, although the exact tools vary depending on the platform used. MetaQuotes software, for example, comes with guaranteed stop-loss orders. These ensure that the platform automatically closes your positions at the prices you have stipulated. This feature is particularly useful when prices move sharply in an unfavorable direction due to volatile market conditions. Another example is the cTrader platform where traders benefit from automated activity alarms that alert them when their balance is in danger. Hedging positions is also an option for traders who want to control their risk.

2. What are the commonly traded currency pairs in Poland?
The most traded currency pairs among Polish investors are largely the same as those of other countries. The vast majority of retail clients prefer to trade the so-called “major” currency pairs, which are the currencies of the world's most stable economies, such as the US, UK, Japan and the EU. Examples include EUR / GBP, EUR / USD, GBP / USD, and USD / JPY. More experienced traders often incorporate minor and exotic pairs into their portfolios (CHF / PLN, GBP / PLN, AUD / PLN) for diversification purposes.

3. What are the educational tools offered by Polish brokers?
It all depends on the brokerage company, some offer very little or no educational material which really holds true when looking at their disclaimers regarding leverage risk. The best brokers in the Polish market take care of their clients and help them gain experience. They offer economic calendars, in-depth articles on various strategies, informative videos, and even webinars that you can attend for free.

4. I am not fluent enough in English. Can I get customer support in Polish?
Of course, most, if not all of the brokers who have entered the local forex market operate websites available in several languages, including Polish. Specialized support teams provide local traders with support in their native language. The most common ways to contact staff are by phone, live chat, and email. The Polish brokerage websites also have detailed FAQ sections where Poles can find comprehensive information on trading, software, strategies, payment methods and account management.

5. How can I collect my money from a Polish broker?
Polish brokers offer a whole range of withdrawal options, including debit / credit cards, international and domestic bank transfers, digital wallets, and in some cases, checks. If you have any transactions open at the time of the request, you should carefully assess the amount you can cash out so that your balance is sufficient to cover your positions. In most cases, withdrawals are processed within a maximum of five business days.


Our Package includes:

  • A limited company
  • The Forex license
  • Forex software
  • A Brokerage account in a large Polish bank: Narodowy Bank Polski