Best Brokers for Forex Trading in Poland
The Best Forex broker in Poland - Tickmill
Forex trading has become an integral part of modern life, allowing people from all nations to participate in global markets and generate income from the convenience of their homes. This holds true for Poland as well, where traders utilize various resources to maximize their profits, including Forex trading.
Given that the Forex market is one of the largest in the world, it's no wonder that Polish traders are highly interested in it. In this article, TradersUnion analysts have compiled a list of the best Forex brokers in Poland, providing valuable insights for traders. By analyzing the pros and cons of each broker, readers will gain valuable insights into the top Forex brokerage options available in Poland.
Best brokers for Forex trading in Poland compared
Before diving into the detailed reviews, let's take a quick look at a comparison table showcasing the key features of the following top Forex brokers in Poland:
| Position | Rating score | Minimum Deposit | Regulation | Open an account |
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Minimum Deposit: $100 | Regulation: FSA, LFSA, FSCA, CySEC, FCA |
Open an Account
STUDY REVIEW
Your capital is at risk.
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Minimum Deposit: 100$ | Regulation: FCA, CYSEC, FSCA, SCB |
Open an Account
STUDY REVIEW
Your capital is at risk.
79.27% of retail investor accounts lose money when trading CFDs with this provider. |
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Minimum Deposit: $200 | Regulation: SFSA, ASIC, CySEC |
Open an Account
STUDY REVIEW
Your capital is at risk.
75.93% of retail investor accounts lose money when trading CFDs with this provider. |
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Minimum Deposit: $50 | Regulation: ASIC, BAFIN, CIMA, ESCA, FSC, MAS, FMA, TFG, HKCE, AUSTRAC, VFS |
Open an Account
STUDY REVIEW
Your capital is at risk.
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5
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Min.Deposit:$1 | Regulation: IFSC |
Open an Account
STUDY REVIEW
Your capital is at risk.
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6
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Minimum Deposit: from $5 | Regulation: ASIC, FCS, CySEC |
Open an Account
STUDY REVIEW
Your capital is at risk.
77.74% of retail investor accounts lose money when trading CFDs with this provider. |
Tickmill
Tickmill is a well-established online broker known for its transparent and client-centric approach to trading. With its commitment to providing a seamless trading experience, Tickmill caters to both retail and institutional traders across the globe.
Tickmill is regulated by reputable authorities such as the Financial Conduct Authority (FCA) in the UK, and the Cyprus Securities and Exchange Commission (CySEC). This regulatory oversight ensures that client funds are held in segregated accounts, providing an additional layer of security.
The trading platforms offered by Tickmill are intuitive and user-friendly, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), enabling traders to execute trades efficiently and access a wide range of trading tools and indicators.
Tickmill's ECN accounts charge a commission fee per lot traded. The commission rates can differ based on the account currency, trading platform (MT4 or MT5), and the instrument being traded. For major currency pairs like EUR/USD, the commission per lot can start from as low as $2.
Traders in Poland can benefit from special conditions, such as support for currency pairs like USD/PLN, GBP/PLN and EUR/PLN with competitive spreads from 0.1 pips.
Extra features
Advanced educational course.
Free autochartist.
PLN - based currency trading.
AI-Based trading signals.
👍 Pros
•Special conditions for clients in Poland.
•Advanced technical analysis tools.
•Personalized client support.
•Free educational resources.
👎 Cons
•Limited range of supported markets compared to some competitors.
FxPro
With over 15 years of experience in the industry, FXPro has built a reputation for reliability, transparency, and client-centricity. The broker offers access to a wide range of financial instruments, including Forex, stocks, indices, commodities, and cryptocurrencies, allowing traders to diversify their portfolios. Polish clients can enjoy EU regulation and 6 PLN based currency pairs.
FXPro website
FXPro provides competitive spreads (EUR/USD spread from 0.6 pips) and flexible leverage options, catering to the needs of both novice and experienced traders. One of the standout features of FXPro is its selection of advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
FXPro is regulated by reputable authorities such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), ensuring a secure trading environment for clients. Client funds are held in segregated accounts with reputable banks, providing an added layer of protection.
👍 Pros
•Wide range of supported markets and currency pairs.
•Advanced trading tools and platforms.
•Access to exclusive trading signals.
•Wide range of PLN currency pairs.
•Educational materials and webinars.
•PLN as the base currency.
👎 Cons
•Higher minimum deposit requirement compared to some competitors.
IC Markets
IC Markets is known as the biggest Forex broker in the world by trading volume. With its focus on competitive pricing, advanced technology, and comprehensive trading tools, IC Markets has gained popularity among traders.
One of the notable advantages of IC Markets is its low fees and transparent fee structure. The broker charges competitive spreads on various instruments, including major currency pairs like EUR/USD, which can start as low as 0.0 pips. In terms of commissions, IC Markets offers different account types, such as the Raw Spread and cTrader accounts, which charge a small commission ($3-$3.5 per) lot traded.
IC Markets is regulated by reputable authorities, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
The broker offers a range of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, giving clients access to advanced charting tools, market analysis, and automated trading options.
The broker offers a variety of options for Forex trading, including support for clients in Poland with currency pairs like USD/PLN and EUR/PLN.
Additionally, IC Markets offers educational resources, including tutorials, webinars, and market analysis, to support clients in enhancing their trading knowledge and skills.
👍 Pros
•Extra tight spreads from 0.0 pips.
•USD/PLN and EUR/PLN pairs.
•2250 trading instruments.
•ECN fee from $3.
•Several copy trading options.
👎 Cons
•Not many crypto pairs.
MultiBank
Multibank is a global Forex broker that provides online trading services to clients worldwide. With over two decades of experience in the industry, Multibank offers a range of trading instruments, including Forex, indices, commodities, and cryptocurrencies. The total number of supported instruments is one of the biggest among the top competitors - over 20.000 currency pairs and CFDs.
👍 Pros
•Wide range of instruments - over 20.000.
•25+ offices around the world.
•Regulated in 8+ countries, including FCA (UK) and ASIC (Australia).
👎 Cons
•ECN account minimum deposit $5.000.
•PLN pairs are not supported.
•Not EU regulated.
XTB
With a strong presence in Poland, XTB provides specific options and support for clients from this country. XTB S.A. is one of the few international Forex brokers regulated by the Komisja Nadzoru Finansowego (KNF) in Poland
XTB offers a wide range of currency pairs, including major, minor, and exotic pairs. This includes popular options like USD/PLN, GBP/PLN, CHF/PLN and EUR/PLN, which are specific to the Polish market. XTB also offers access to other markets, including stocks, indices, commodities, and cryptocurrencies, providing clients with opportunities for diversification.
As for fees, XTB utilizes a transparent fee structure. The broker charges spreads from 0.1 pips on Forex trading, and the specific fees may vary depending on the currency pair and account type.
Extra features
Advanced Trading Platforms: XTB offers robust trading platforms, including the popular MetaTrader 4 (MT4) and their proprietary xStation.
XTB provides educational resources, including webinars, tutorials, and market analysis, to support traders in enhancing their trading knowledge and skills.
XTB offers a range of research tools, including economic calendars, market sentiment indicators, and trading signals, to assist clients in making informed trading decisions.
👍 Pros
•2100+ supported trading assets.
•Specific options for the Polish market.
•Competitive spreads and transparent fee structure.
•Advanced trading platforms and comprehensive research tools.
•Strong presence and support for clients in Poland.
👎 Cons
•Some additional account fees may apply, such as inactivity fees for dormant accounts.
XM Group
XM Group is a well-known Forex broker that offers a wide range of options for Forex trading in Poland. With its extensive market coverage and support for various currency pairs, including USD/PLN and EUR/PLN, XM Group caters to the needs of traders in Poland.
XM is one of the most well-regulated Forex brokers in the EU. The regulatory entities overseeing XM Group's operations are: Cyprus Securities and Exchange Commission (CySEC), and Financial Conduct Authority (FCA).
👍 Pros
•Wide range of supported currency pairs, including USD/PLN and EUR/PLN.
•Zloty (PLN) support for clients in Poland.
•User-friendly trading platform with advanced charting tools.
•Educational resources and market analysis.
👎 Cons
•Variable spreads may be less favorable during periods of high market volatility.
Rules and Regulation
Licensing in Poland
Forex trading in Poland is overseen and regulated by two authorities: the Polish Financial Supervision Authority (KNF) and the National Bank of Poland (NBP). These regulatory bodies play crucial roles in monitoring and supervising Forex trading activities to ensure compliance with established financial regulations and standards.
Investor protection in Poland
The regulatory framework established by the KNF in Poland aims to protect investors engaged in Forex trading. Through stringent regulations and oversight, the KNF endeavors to maintain transparency, integrity, and fairness in the Forex market, thereby safeguarding the interests of investors and promoting trust in the financial system.
Taxation in Poland
Profits derived from Forex trading activities are subject to income tax in Poland. The tax rates applicable to Forex trading profits range from 18% to 32%, depending on the total amount of profit earned by the trader. Compliance with tax regulations is essential for Forex traders in Poland to fulfill their tax obligations and avoid any legal consequences.
How to choose a Forex broker in Poland?
If you are interested in how to start Forex trading, then first you need to decide on the choice of a broker.
When choosing a Forex broker in Poland, consider the following factors:
Local or EU regulation: Choose a broker regulated by reputable authorities such as CySEC, FCA, or ASIC.
Commission amount: Compare commission fees charged by brokers to ensure competitive pricing.
Order execution speed: Opt for brokers with fast and reliable order execution to avoid slippage.
Initial deposit amount: Check the minimum deposit requirement, considering your budget and trading preferences.
Capitalization of the broker: Consider the financial stability and capitalization of the broker to ensure the security of funds.
What is the best time to trade Forex in Poland?
Generally, Tuesday, Wednesday, and Thursday are considered the best days for Forex trading in Poland due to higher market volatility. Traders should be aware of the opening and closing times of major financial centers to take advantage of optimal trading opportunities.
Best Forex pairs for clients from Poland
The best Forex pairs for clients from Poland are typically the major currency pairs, such as EUR/USD, GBP/USD, and USD/JPY. These pairs offer high liquidity and tighter spreads, making them popular choices among traders.
What are the best Forex brokers for beginners in Poland?
For beginners in Poland, it is advisable to choose Forex brokers that offer Forex trading apps the following:
Low minimum deposits: Brokers with low initial deposit requirements allow beginners to start trading with smaller amounts.
Special accounts: Look for brokers offering demo accounts or cent accounts, which provide a risk-free environment for practicing and learning.
Passive income options: Brokers that offer copy trading or PAMM accounts allow beginners to follow experienced traders' strategies or invest in managed accounts.
Good educational materials: Opt for brokers that provide comprehensive educational resources, including tutorials, webinars, and market analysis, to support beginners' learning process.
RoboForex and IC Markets are good Forex trading apps for beginners offering low minimum deposits, demo accounts, copy trading feature, and educational materials, making them worth considering for novice traders in Poland.
FAQ
Is Forex trading allowed in Poland?
Yes, Forex trading is allowed in Poland. It is a legal activity, and individuals can engage in Forex trading.
Who regulates Forex in Poland?
Forex trading in Poland is regulated by the Polish Financial Supervision Authority (KNF), which oversees the financial markets and ensures compliance with regulatory standards to protect investors' interests and maintain a safe trading environment. Forex brokers operating in Poland are required to obtain authorization from the KNF to offer their services to Polish residents.
Can I trade EUR/PLN and USD/PLN?
Yes, you can trade EURPLN (Euro to Polish Zloty) and USDPLN (US Dollar to Polish Zloty) currency pairs in Poland. These currency pairs are commonly available for trading on Forex platforms offered by regulated brokers operating in Poland.
Can I withdraw money from a Forex broker in Zloty?
Yes, it is possible to withdraw money from a Forex broker in Zloty (Polish Zloty) if your broker supports Zloty as a withdrawal currency. Many Forex brokers offer multiple withdrawal options, including the ability to withdraw funds in the local currency of the account holder. If you have a trading account denominated in Zloty, you should check with your broker to confirm their available withdrawal options and whether Zloty withdrawals are supported.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).