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5 Best Forex Brokers in Poland for 2024

Searching for the top forex broker in Poland? Based on our hands-on analysis, we’ve identified the 5 best options tailored to various trading needs. Practical tips from our experts are included.

Vladimir Zernov
Reviewed By:
Ola Alder
Updated: Jan 25, 2024

List of Top Forex Brokers in Poland

  • XTB – Best Overall
    Listed on the Warsaw Stock Exchange. Competitive spreads. Strong in-house research. User-friendly proprietary xStation 5 platform. Strong educational support.
  • AvaTrade – Best Trading Platform
    Multiple Tier-1 regulations. Variety of trading platforms. CFDs and options contracts. Incorporates DupliTrade. Fast order execution.
  • IronFX – Best for Beginners
    A wide range of educational and research content. 7 account types. MT4, proprietary mobile app. VPS hosting, Trading Central. 500+ tradable instruments.
  • FP Markets – Best for Professional Traders
    MT4, MT5, cTrader, in-house mobile app. VPS hosting. 800+ tradable instruments. Competitive spreads. Has a ‘best execution policy’.
  • IC Markets – Best Low Spreads
    MT4, MT5, CTrader. Social trading tools, Trading Central, Autochartist. Free VPS tool. Very competitive fees. Fast order execution.

Forex Trading in Poland

Poland boasts one of the most dynamic and rapidly expanding financial markets in Central Europe, fueled in part by its strong economy and dedication to financial innovation. The market offers a diverse range of assets, from Forex and commodities to stocks and indices. Key trading centers like Warsaw enhance the market’s overall liquidity and appeal, making it an attractive hub for both domestic and international traders.

Forex trading in Poland is both legal and regulated, supervised by the KNF (Komisja Nadzoru Finansowego) and subject to oversight by ESMA (European Securities and Markets Authority). Additionally, brokers operating in Poland must comply with MiFID II (Markets in Financial Instruments Directive II) regulations.

Compliance mandates obtaining proper authorization from regulatory authorities and fulfilling obligations aimed at boosting investor protection and combating money laundering. Owing to MiFID II, all EU-regulated brokers can serve residents in any EU member state, allowing Polish traders to opt for any EU-regulated brokerage.

How Did FX Empire Select The Best Brokers In Poland?

To choose the best brokers in Poland, we used the FX Empire’s proprietary rating system to find the leaders in each category. We focused on the following key features:

  • We selected trustworthy and transparent brokers with a top overall score based on our 250-data point rating system
  • We prioritized brokers regulated by KNF or European top-tier regulators.
  • We verified whether the brokers accept Polish residents.
  • We preferred brokers that allow PLN as a base currency.
  • We tested brokers’ trading platforms and selected those that offer user-friendly and feature-rich software.
  • We evaluated both trading and non-trading fees to identify low-cost brokers.
  • We prioritized brokers that provide a localized experience, including a website and customer support in Polish, as well as region-specific payment methods.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now, let’s explore the selected brokers.

Best Overall

81 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2002, XTB is a publicly traded company listed on the Warsaw Stock Exchange. The broker is regulated by a few top-tier European authorities, including KNF, and offers trading in forex pairs, indices, commodities, stocks, and ETFs.

Regional Features:

  • Entity for Polish Clients: XTB S.A. regulated by KNF
  • Office in Poland: Warsaw, u. Prosta 67
  • PLN as a base currency
  • Polish version of the website
  • Customer support in Polish
  • Trading Platforms: xStation 5
  • Average EUR/USD spread: 0.9 pips
  • Leverage: 1:30

XTB clients benefit from the in-house xStation 5 platform, accessible across web, desktop, and mobile interfaces. The platform boasts a sleek design, cutting-edge charting capabilities, and real-time analytics on trading performance. Traders have access to the analysis from the in-house team via the xStation 5 platform. Beyond trading tools, XTB excels in educational content, offering an extensive library of articles and instructional videos.

Talking about fees, XTB offers competitive spreads in forex pairs. For example, our tests showed that EUR/USD spread varied between 0.8 and 0.9 pips, while GBP/JPY spread was 1.6, which is low compared to the industry average. XTB offers the typical deposit methods, including bank transfer, credit cards, and Skrill. However, withdrawals are limited to a bank transfer. I appreciated that XTB doesn't impose any deposit or withdrawal fees.

  • Competitive spreads
  • Robust trading platform
  • Strong research materials
  • Dedicated account manager
  • Bank transfer is the only withdrawal method

Best Trading Platform

Trading CFDs and FX Options entail risk and could result in the loss of your capital.
  • Min Deposit
  • Tradable Instruments
  • Fees

AvaTrade was founded in 2006 and is headquartered in Ireland. The broker offers more than 1250 instruments across multiple asset classes. There are two available instrument contract types – CFDs and options – that allow traders to better manage their market exposure. AvaTrade operates as a market maker, which accommodates faster order execution and is more suitable for high-frequency trading.

Regional Features:

  • Entity for Polish Clients: Ava Trade EU Ltd
  • Regulator: CBI (Ireland)
  • Trading Platforms: MT4, MT5, AvaSocial, AvaOptions, DupliTrade, Ava Web Trader
  • Average EUR/USD spread: 0.9
  • Leverage: 1:30

I was impressed by AvaTrade’s assortment of trading platforms. It offers the renowned MetaTrader 4&5 and its proprietary Web Trader platform which provides more advanced charting capabilities and is the go-to choice for conducting probing technical analysis.

AvaTrade also incorporates DupliTrade, which is one of the biggest retail platforms for social trading, connecting signal providers and signal followers worldwide. The platform has advanced filters, which allow for quick and comprehensive trading strategies search.

Moreover, the broker provides AvaOptions – a platform specifically tailored for options trading. Its greatest advantage is that it allows traders to better assess volatility changes and thereby position themselves on the market accordingly.

AvaTrade offers commission-free accounts for beginner traders with floating spreads around 0.9 pips. After reviewing all of its costs, I determined that they fall marginally below the industry average.

  • Strictly regulated
  • Below-average trading fees
  • Fast order execution
  • Wide array of platforms
  • Higher than average fees

Best for Beginners

Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.
  • Min Deposit
  • Tradable Instruments
  • Fees

Founded in 2010, IronFX operates as a forex and CFD broker, catering to a global client base of over 1.5 million. Regulated by CySEC, FCA, and FSCA, it offers a diverse range of more than 500 tradable instruments across forex, commodities, indices, stocks, and futures. Thanks to extensive educational and research resources and availability of seven different account types I've determined that IronFX is well-suited for beginners.

Regional Features:

  • Entity for Polish Clients: Notesco Financial Services Limited
  • Regulator: CySEC
  • Trading Platforms: MT4
  • Average EUR/USD spread: 1.0
  • Leverage: 1:30

IronFX offers its clients access to the widely-used MetaTrader 4 platform. The broker’s clients can use automated trading via MetaTrader’s Expert Advisors feature and engage in copy trading with the broker's AutoTrade function. The broker provides strong educational support, including hundreds of educational videos, four eBooks, as well as webinars and podcasts.

IronFX offers over 500 tradable instruments, including stocks from European exchanges. Several commodities are available for trading in pairs with the euro, which is particularly advantageous for Poland-based clients. Traders can choose between spread-based and commission-based accounts.

Our tests revealed that IronFX's trading costs are below industry standards. For example, the EUR/USD spreads fluctuated between 0.9 and 1.0, while WTI oil spreads stood at 0.04. Importantly, IronFX does not charge deposit, withdrawal, or inactivity fees.

  • No minimum deposit requirement
  • Diverse account offering
  • Wide range of research and educational content
  • VPS hosting
  • Phone support is only available for active clients

Best for Professional Traders

This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.
  • Min Deposit
  • Tradable Instruments
  • Fees

Established in 2005, FP Markets is headquartered in Australia and has other offices worldwide. The broker operates on a No-Dealing-Desk (NDD) and offers over 800 trading opportunities in forex pairs, commodities, stocks, indices, ETFs, and cryptocurrencies. FP Markets, overseen by regulatory bodies such as CySEC and ASIC, adheres to a 'best execution policy,' guaranteeing that orders are executed optimally at the most advantageous prices.

Regional Features:

  • Entity for Polish Clients: First Prudential Markets Ltd
  • Regulator: CySEC
  • Trading Platforms: MT4, MT5
  • Average EUR/USD spread: 1.1
  • Leverage: 1:30

My research indicated that FP Markets offers a diverse array of tradable instruments, including stocks from EU exchanges. The broker also provides VPS hosting, a valuable feature for algorithmic traders. Qualified advanced traders can unlock leverage ratios as high as 1:500 through the Pro Account.

The broker integrates the well-known MetaTrader 4 and 5 platforms, along with the cTrader platform. MT4 users can take advantage of the 'Traders Toolbox,' a suite of 12 specialized tools. These include the Correlation Trader for comparing symbol correlations, Sentiment Trader for assessing market sentiment, and Excel RTD for embedding real-time account, ticket, and price data into Excel. From my own experience, correlation tools are particularly valuable for uncovering new trading opportunities

Our tests showed that FP Markets offers mid-to-low spreads compared to the broader industry. For example, during my live testing, the EUR/USD spreads varied between 1.0 and 1.2, while the GBP/JPY spreads hovered between 1.5 and 1.9. The broker does not impose deposit, withdrawal, or inactivity fees.

  • Competitive spreads
  • No inactivity, withdrawal, and deposit fees
  • A well-rounded tradable instruments offering
  • MT4 with advanced functionality
  • VPS hosting
  • Limited research support is below average

Best Low Spreads

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
  • Min Deposit
  • Tradable Instruments
  • Fees

Established in 2007, IC Markets has built a name for itself in the trading world. Regulated by ASIC, CySEC, and FSA Seychelles, the broker provides a balanced offering with a solid choice of tradable instruments – from forex and commodities to stocks, indices, and cryptocurrencies.

Regional Features:

  • Entity for Polish Clients: IC Markets (EU) Ltd
  • Regulator: CySEC
  • Trading Platforms: MT4, MT5, cTrader
  • Average EUR/USD spread: 0.7 pips
  • Leverage: 1:30

Our analysis revealed that IC Markets delivers highly competitive pricing models for both its Standard and Raw Spread accounts. Take, for example, the EUR/USD pair in the Standard Account, which usually sees spreads fluctuating between 0.6 and 0.7. The GBP/JPY pair also stands out with a favorable spread of 2.2. When it comes to the Raw Spread account, the broker's commission structure is equally appealing. An added perk is the absence of account maintenance or inactivity fees, further enhancing the platform's cost-effectiveness.

IC Markets’ clients have the flexibility to select from MetaTrader 4, MetaTrader 5, and cTrader platforms. The broker not only offers its in-house research but also incorporates renowned third-party tools such as Trading Central and Autochartist. Personally, I prefer to use sentiment analysis tools. For example, Trading Central’s tools Market Buzz and Crowd Insight provide an opportunity to gauge traders’ sentiment at a certain point in time. I’d note that IC Markets’ clients also have access to free VPS, which is important for algorithmic traders.

Additionally, IC Markets features a versatile array of account options designed to accommodate a broad spectrum of trading approaches, including day trading, scalping, Expert Advisors (EAs), and discretionary trading. Importantly for seasoned traders, all trading strategies are permitted across all IC Markets accounts.

  • Competitive spreads and commissions
  • A wide range of tradable instruments
  • Multiple trading platforms
  • Solid research tools
  • Free VPS hosting
  • No proprietary platform

How to Choose A Forex Broker In Poland?

Use our guide to define the best forex broker in Poland according to your trading goals.

How to choose a safe forex broker in Poland?

The process of choosing a broker begins with learning where your potential broker is regulated. In our research, we divide regulators into three tiers: Tier-1, Tier-2, and Tier-3.

  • Tier-1 regulators have strict oversight and impose certain limits on services offered to retail clients (for example, the leverage for retail clients is usually limited at 1:30). Such regulators usually provide access to investor compensation schemes. They also demand that brokers provide negative balance protection and keep clients’ funds in segregated accounts. Tier-1 regulators include CySEC, ASIC, and UK FCA.
  • Tier-2 regulators also offer strict oversight but usually do not limit leverage for retail clients. In addition, investor compensation schemes are typically not available at Tier-2 regulators. KNF in Poland is a good example of such a regulator.
  • Tier-3 regulators are offshore regulators that do not impose limits on leverage for retail clients and do not provide access to compensation schemes. FSA Seychelles and FSC Mauritius are among Tier-3 regulators.
  • Unregulated brokers operate without oversight from any formal financial regulatory authority. Unlike regulated brokers, which have to comply with rules and guidelines set by financial bodies to ensure transparency and protection for traders, unregulated brokers are not bound by such requirements. Trading with an unregulated broker carries a high level of risk, including the potential for financial loss, fraud, or scams.

Check out our guide on Best European regulated brokers.

Traders should prioritize essential safeguards such as negative balance protection, segregated funds, and compensation funds, all of which offer reassurance in case of financial issues. Traders should note that offshore regulators do not impose strict limits on leverage, allowing traders to access high levels of leverage but offer lower levels of protection. You should be aware that compensation schemes may not be available. Consequently, if a broker faces financial difficulties, traders will have to navigate the situation independently.

All brokers from our list are regulated by the Cyprus Securities and Exchange Commission (CySEC). We rate CySEC as a Tier-1 regulator as it provides the maximum level of oversight and protection, including negative balance protection, segregated funds, and a compensation scheme. One broker is also regulated by the Polish KNF which we define as a Tier-2 regulator.

Read more about best CySEC-regulated brokers and best BaFin-regulated brokers.

What fees should you focus on when choosing the broker?

Typically, brokers charge spreads, commissions, swap/rollover fees, and inactivity fees.

  • Spread. It is the difference between the bid and the ask price. The higher the spread, the more you pay for the trade. In our rating system, we deem spreads below 1 pip for EUR/USD and 3 pips for GBP/JPY to be low. See our guides on the best zero spread and best lowest spread forex brokers.
  • Commission. It is a fixed cost of entering the trade. Accounts that charge commissions usually offer lower spreads. For example, commissions below $3 for forex pairs and gold are considered low.
  • Swap/rollover fee. It is charged when you hold a leveraged position overnight. Traders should pay extra attention to these fees if they plan to use swing trading strategies, which involve holding positions for several days or even weeks. A swap rate below 0.5 pips for forex pairs is considered favorable. Find best lowest swap fees brokers.
  • Inactivity fee. A broker imposes an inactivity fee when an account remains dormant for a specified period. In this case, a certain amount of money is charged monthly. An inactivity fee below $10 is considered to be low.

How to choose the right account for trading?

You should understand the differences between various types of accounts.

  • Demo accounts are used for practice without risking real money. Such accounts are highly recommended for novice traders making their first steps in trading. Read more about Best forex demo accounts.
  • Spread-based accounts typically charge spreads and swap/rollover fees. These accounts usually represent a good choice for traders whose trading volume is expected to be relatively modest.
  • Commission-based accounts charge commissions in addition to spreads and swap/rollover fees. Typically, such accounts offer tighter spreads. They are suitable for traders who anticipate a high volume of trading.
  • On Islamic accounts, swap/rollover fees are not charged to ensure compliance with Sharia law. Read more about Best Islamic forex accounts.
  • Professional accounts usually have a high minimum deposit and offer access to the high leverage that most professional traders are looking for.

Check out our guides on Best ECN forex brokers and Best STP forex brokers.

How to choose a trading platform?

In today’s trading landscape, you’ll often encounter brokers offering platforms like MetaTrader 4 and MetaTrader 5. While these platforms come loaded with a plethora of tools, they are generally more suitable for traders who have some experience under their belt. Beginners might find these platforms challenging at first and may require some time to get acquainted with their complexities.

Read more about best MT4 brokers and best MT5 brokers.

Alternatively, some brokers offer their own proprietary trading platforms, designed with a broader range of traders in mind. These in-house platforms usually stand out for their ease of use and intuitive navigation, making them a more welcoming option for those new to trading.

The choice of a trading platform should align with your trading style, experience, and personal preferences. In my view, if you’re just starting out, you’ll likely be better served by a broker’s proprietary, user-friendly platform or mobile app. On the other hand, seasoned traders often lean towards the advanced functionalities offered by platforms like MT4 or MT5.

Check out our dedicated guide on Best forex trading platforms.

What leverage is available for traders?

Leverage provides traders with the opportunity to boost their profits through the use of borrowed funds. The higher the leverage, the greater your potential profits may be. However, leverage can be a double-edged sword, as it can also magnify potential losses. Thus, I would advise beginner traders to start with low levels of leverage to avoid the risk of substantial losses.

The maximum potential leverage a broker can offer is determined by the regulator. Poland-based traders have access to the CySEC-regulated entities of brokers. CySEC, which is the leading European regulator for CFD brokers, limits leverage at 1:30 for retail clients. KNF also limits leverage for retail clients at 1:30. Professional retail clients, who meet certain conditions regarding their trading expertise and the value of the positions traded in the past, can get access to leverage of 1:100.

Read more about Best high leverage forex brokers.

What to avoid when choosing a broker?

Based on my trading experience, I have outlined the five things to avoid when choosing a broker:

  • Failing to verify regulatory compliance.
  • Overlooking broker fees, such as spreads, commissions, and swap rates.
  • Selecting an account type that does not match your requirements.
  • Neglecting to review the range of instruments provided by the broker.
  • Avoiding direct communication with the support team before opening an account.

How to avoid forex and CFD scams?

To safeguard yourself against forex scams, follow these essential guidelines:

  • Research and choose a reputable broker: Conduct thorough research to identify a broker with a solid reputation and a history of regulatory compliance. Verify its credentials and look for reviews or testimonials from reliable sources.
  • Check the regulatory status: Ensure that the broker you selected is regulated by a recognized financial authority. This oversight provides a decent level of protection and ensures adherence to industry standards.
  • Be cautious of unrealistic promises: Beware of brokers or investment schemes that promise guaranteed high returns or low-risk opportunities. Forex trading involves inherent risks, and legitimate brokers will not make unrealistic claims.
  • Avoid unregulated entities: Steer clear of unregulated brokers or those operating from offshore jurisdictions with weak regulations. Regulatory oversight helps protect your funds and ensures fair trading practices.
  • Understand the terms and conditions: Read and comprehend the broker’s terms and conditions, including fee structures, withdrawal policies, and any potential hidden costs. Beware of brokers that make it difficult to access or withdraw your funds.
  • Use secure payment methods: Choose reputable payment methods that offer additional security layers, such as bank transfers or established electronic payment systems. Avoid dealing with brokers that solely accept cryptocurrency or other non-traceable forms of payment.
  • Stay informed and educated: Continuously educate yourself about forex trading and stay updated on market trends and news. This knowledge will empower you to make informed decisions and identify potential scams.
  • Trust your instincts: If something seems too good to be true or raises suspicions, trust your gut instinct and exercise caution. Take the time to seek advice from trusted financial professionals or consult with experienced traders before making any decisions.

Our Methodology

FX Empire, with a history dating back to 2011, has established itself as a reputable authority in broker reviews. Our extensive experience in evaluating CFD brokers, spanning over a decade, has led us to develop a meticulous and comprehensive review strategy. Adhering to stringent guidelines for editorial integrity, we consistently uphold our commitment to deliver unbiased evaluations.

We follow a diligent protocol for our review process, integrating objective criteria and quantifiable data. This methodical approach allows us to generate a justified score that accurately reflects the performance of a broker. Our mission is to provide traders with thorough and unbiased reviews, empowering you to make well-informed decisions aligned with your specific needs.

To choose the best brokers for you, we rate them across nine categories and calculate a score that reflects their performance. The categories include:

  • Trust and Stability
  • Fees
  • Platform and Tools
  • Tradable Instruments
  • Account Types
  • Deposit and Withdrawal
  • Research
  • Customer Support
  • Education

We open accounts, test platforms, measure spreads, and chat with support teams to collect as much data as possible for each broker. Overall, we evaluate brokers based on more than 250 distinct data points. Every category receives a rating from one star (weak) to five stars (excellent). The broker’s total score depends on its performance in each of these nine categories.

For this guide, I focused on the brokers that accept clients from Poland and are either regulated by Poland’s KNF or top-tier European authorities. In addition, we leaned toward brokers that cater to local preferences, featuring PLN as a base currency, a Polish-language website, customer support proficient in Polish, and payment methods commonly used in the region.

We highlight each broker’s strengths and weaknesses, explain regulatory details, and share the results of our live tests of brokers’ fees, customer support, and trading platforms. To learn more about our review process, click here.

Meet our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

Yes, forex trading is legal and regulated in Poland. The primary regulatory body overseeing forex activities in the country is the Komisja Nadzoru Finansowego (KNF). Additionally, forex brokers operating in Poland must adhere to European Union standards, falling under the jurisdiction of the European Securities and Markets Authority (ESMA).
The Komisja Nadzoru Finansowego (KNF), or Polish Financial Supervision Authority, is the primary regulatory body responsible for overseeing financial markets in Poland, including forex and CFD trading. Established to ensure the stability and transparency of financial markets, the KNF sets stringent standards for financial institutions and brokers, encompassing aspects such as capital adequacy, compliance with investor protection rules, and measures to combat money laundering. Forex and CFD brokers looking to operate in Poland must obtain authorization from the KNF and adhere to both local regulations and broader European Union standards under the jurisdiction of the European Securities and Markets Authority (ESMA).
KNF-regulated brokers operate under a rigorous regulatory framework, ensuring transparency and fair trading practices. They're required to adhere to strict capital requirements and segregate client and operational funds, minimizing the risk of financial misconduct. Furthermore, they often offer risk management tools and localized services like customer support in Polish and region-specific payment methods. Additionally, the brokers are subject to regular audits and fall under the broader European ESMA regulations, providing an extra layer of security.
To verify if a forex broker is regulated in Poland, you can check the official website of the Komisja Nadzoru Finansowego (KNF), which maintains a list of authorized financial entities. You can search for the broker's name on this list to confirm their regulatory status. Additionally, reputable brokers often display their KNF license number on their website, usually in the footer or under a dedicated 'Regulations' section, which you can cross-reference with the KNF's records.
ESMA (European Securities and Markets Authority) is a European Union body that oversees financial markets, aiming to enhance investor protection and market stability. MiFID II (Markets in Financial Instruments Directive II) is an EU regulation aimed at increasing transparency and fairness within financial markets. For forex traders in Poland, this means they benefit from an added layer of protection and standardization, as Polish-regulated brokers must comply with ESMA and MiFID II guidelines, which cover aspects like risk management, transparent pricing, and investor protection.
We rated IronFX as the most suitable broker for beginners in Poland. The broker offers 7 account types and a wide range of educational and research content.
Our research showed that FP Markets is the best choice for professionals in Poland. The broker offers EAs, provides deep liquidity, offers VPS hosting, and its raw spreads start from 0.0 pips.
After our testing, we concluded that Swissquote’s Advanced Trader is the best in-house trading platform for Polish clients. The platform is very versatile, has an easy-to-navigate design, and can be used for the implementation of a wide range of strategies.
Yes, forex trading profits are subject to taxation in Poland. The tax treatment may differ depending on whether you're considered a retail or professional trader, but generally, income from forex trading falls under capital gains tax. It's crucial to consult a tax advisor familiar with Polish tax law to ensure you meet all reporting and payment obligations accurately.
KNF or other top-tier EU-regulated brokers offer robust financial safeguards, transparency, and investor protection due to stringent regulations like ESMA and MiFID II. Offshore-regulated brokers usually operate under looser regulations, posing higher risks of financial misconduct and less protection for traders. Therefore, EU-regulated brokers typically offer a safer trading environment.
Yes, you can trade with non-KNF-regulated brokers in Poland, especially if they are regulated by other reputable European authorities and comply with ESMA and MiFID II standards.
Can I trade with an offshore broker in Poland? Yes, you can technically trade with an offshore broker while residing in Poland. However, it's crucial to understand that offshore brokers often operate under regulatory environments that are less stringent than those imposed by the KNF or other top-tier EU regulatory bodies. This could mean less investor protection and higher risks.
Yes, cryptocurrency trading is available in Poland. However, it's worth noting that the regulatory environment around cryptocurrencies is still somewhat uncertain. The Polish Financial Supervision Authority (KNF) has issued warnings about the risks associated with cryptocurrency trading but has not formally regulated it.
In theory, you could trade forex without a broker, but for individual retail traders, this is practically unattainable. For those trading in Poland – or anywhere, for that matter – a broker is essentially a must-have. They offer not just the trading platform, but also vital resources like leverage and liquidity, enabling traders to execute orders seamlessly.
Negative balance protection is a feature offered by some brokers that protects traders from incurring a negative account balance. In forex trading, it is possible to lose more money than you have in your account due to leverage, which magnifies both gains and losses. With negative balance protection, the broker guarantees that the trader's account balance will never go below zero, even in the event of a sudden and significant market move that results in a large loss.
To verify whether your broker has negative balance protection, you can review the terms and conditions of your account agreement, which should outline the broker's policy on negative balance protection. This information is usually available on the broker's website or can be obtained by contacting their customer support team.
A compensation scheme is a type of investor protection program that provides financial compensation to investors who have suffered losses as a result of a broker's insolvency, fraud, or other misconduct. Compensation schemes are designed to protect investors from financial harm and to promote confidence in the financial markets. In most countries, compensation schemes are established and regulated by the government or financial regulatory agencies. These schemes typically have specific eligibility requirements, such as a maximum level of compensation per investor or per claim, and may only cover certain types of financial instruments or transactions.
You can check their regulatory status and the terms and conditions of your account agreement. You can also check the website of the compensation scheme in your country or region to see if your broker is listed as a member.
A segregated fund refers to the practice where brokers hold their clients' funds separate from their own operational funds. This is done to protect clients' funds in the event of the broker's bankruptcy or other financial difficulties.
To verify if a broker offers segregated funds, you can check their website, contact them directly, review their regulatory filings, look for independent reviews, or consult with a financial advisor.

About the Author

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.