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Online Forex trading has always been popular in Poland. Especially since the country joined the European Union and has steadily seen an increase in foreign investment.
Being a member-state of the European Union gives great assurance for the stability and regulatory standards of a country. In the case of Forex – it means the Polish government has to comply with the guidelines of the European Securities and Markets Authority which include the segregation of accounts, negative balance protection and a cap on the maximum allowed leverage of 1:30.
This is welcome news for those interested in Forex trading in the country because in 2015 it was recorded that some 80 percent of Polish traders have reported losses and many experts deemed such losses the consequence of excessive leverage. As a matter of Fact, Poland was among the first EU-countries to lower the leverage (to 1:100) in the summer of 2015, until the new Pan-European regulated took effect August of 2018.
Polish Financial Supervision Authority (KNF) is the main regulatory body in Poland which oversees the financial sector which includes Forex trading. Its website is available in English and easy to navigate. We see warnings regarding firms suspected of illegal activities and a list of regulated entities.
As in every EU member, Forex brokerages registered and licensed elsewhere in Europe may provide their services to Polish traders as well, as long as they register formally with the KNF and have their license rubber stamped.
The most popular payment methods in Hungary are the standard Visa and MasterCard, as well as a Polish online banking payment option which supports more than 30 banks in Poland called Przelewy24. Mobiamo and Dotpay are also among the preferred payment gateways for Polish traders.
Forex news from Poland
Polish Regulator Drops Warning Against Binance
An official warning against Binance was issued, this time by the Polish Financial Supervision Authority (UKNF), during a sensitive time for the
Bitfinex says they have been scammed for $880 mln
Bitfinex crypto exchange says it is a “victim of a fraud” by Crypto Capital, a payment processing company that allegedly lost 880
Despite ESMA Poland relaxes leverage to 1:100
Despite the negative reaction from the European Securities Markets Authority (ESMA) to the Polish proposal to allow leverage as high as 1:100
ESMA will not allow Poland to relax leverage restrictions
The European Securities Markets Authority (ESMA) reacted negatively to the proposal of the Polish regulator to allow leverage as high as 1:100
Traders in Poland lost $151 million in 2018 alone
According to the Polish Financial Oversight Commission (PFOC) in 2018 Polish traders lost over 151 million USD. And if we divided that
Poland arrests 11 forex scammers
The Polish police has arrested 11 individuals, on suspicion of running a forex scam scheme, defrauding investors in Poland and other EU
Polish forex brokerage Efix partners with US peer GAIN Capital
Polish forex and contracts for difference (CFDs) brokerage Efix Dom Maklerski has entered into a long-term partnership with US-based forex giant GAIN