The average loss of each trader in 2020 remained at PLN 11,370.
The Polish financial markets regulator, locally known as Komisja Nadzoru Finansowego (KNF), published its annual report on Forex market transactions on Thursday. According to the regulator, 77.7 percent of forex traders ended up with losses in 2020.
The report published by KNF, which collects and compiles trading data from all regulated over-the-counter (OTC) platforms, outlined that retail traders account for 99.3 percent of active traders in the forex market.
Poland-regulated brokers take both Polish and international traders as clients. These brokers are popular as they offer up to 100:1 leverage, contrary to the European Securities and Markets Authority-recommended maximum level of 30:1.
A Loss Making Trade
The latest KNF report shows that the number of loss-making forex traders increased last year compared to 2019 when the figure improved significantly to 73 percent. The average amount lost by each trader in 2020 remained at PLN 11,370, while the figure was only at PLN 6,354 in the previous year, for both Polish and international clients.
The statistics remained very similar for Poland resident traders as 77.4 percent of them lost deposits at an average of PLN 12,693.
The report further outlined that a total of 17,914 traders, both Polish and international, realized a total profit of PLN 277.4 million, while the realized customer losses came in at almost PLN 1.19 billion. For Polish residents, the total realized profits remained PLN 162 million, compared to the loss of PLN 660.7 million.
Interestingly, both realized profits and losses skyrocketed last year, when compared to the data of the four previous years, which was mostly due to the retail trading frenzy triggered by the various aspects of the Covid-spurred lockdown.
The Polish financial markets regulator, locally known as Komisja Nadzoru Finansowego (KNF), published its annual report on Forex market transactions on Thursday. According to the regulator, 77.7 percent of forex traders ended up with losses in 2020.
The report published by KNF, which collects and compiles trading data from all regulated over-the-counter (OTC) platforms, outlined that retail traders account for 99.3 percent of active traders in the forex market.
Poland-regulated brokers take both Polish and international traders as clients. These brokers are popular as they offer up to 100:1 leverage, contrary to the European Securities and Markets Authority-recommended maximum level of 30:1.
A Loss Making Trade
The latest KNF report shows that the number of loss-making forex traders increased last year compared to 2019 when the figure improved significantly to 73 percent. The average amount lost by each trader in 2020 remained at PLN 11,370, while the figure was only at PLN 6,354 in the previous year, for both Polish and international clients.
The statistics remained very similar for Poland resident traders as 77.4 percent of them lost deposits at an average of PLN 12,693.
The report further outlined that a total of 17,914 traders, both Polish and international, realized a total profit of PLN 277.4 million, while the realized customer losses came in at almost PLN 1.19 billion. For Polish residents, the total realized profits remained PLN 162 million, compared to the loss of PLN 660.7 million.
Interestingly, both realized profits and losses skyrocketed last year, when compared to the data of the four previous years, which was mostly due to the retail trading frenzy triggered by the various aspects of the Covid-spurred lockdown.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
CFI Obtains Regulatory Approval for South African Operations
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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