Recently more and more brokers have been opening their offices in Poland
The Polish FX/CFD market, which is one of the most developed retail markets in Europe with an established position and strong brokerage brands, has attracted the interest of several international brokers over the past few months, including among others AvaTrade, Plus500, OANDA and ATFX.
Poland: A Country, with Even Bigger Retail Trading Potential
Poland is one of the 40 largest countries in the world in terms of population and, according to data from August 2020, has over 38 million citizens. However, the free market economy has only been developing in Poland for 30 years, previously under the domination of the communists. Thus, economic awareness is relatively low, as is the number of active retail investors. This year, the number of brokerage accounts maintained by Polish residents achieved a record of 1.3 million. While in comparison to other European nations this number might be modest, they are rising rapidly.
For years, Poland has been associated with a country that has been very proactive in regulating the derivatives market. First, in 2015, the local Polish Financial Services Authority (PFSA), to protect investors from exotic brokers' offers and very high Leverage, introduced its limitation to 100:1. Three years later, as the only EU28 country, it opposed the European Securities Markets Authority (ESMA) proposal to limit the leverage to a maximum of 30:1. Then it introduced its regulations, which led to the creation of an independent category of ‘experienced trader’. Retail customers who can confirm their market knowledge and experience can use more attractive trading conditions.
Polish FX/CFD Market Grows but XTB Is Confident of Its Dominant Position
In the Polish Forex market, apart from XTB and TMS Brokers, only a few local players stand out. These include bank brokers: mForex from mBank, BossaFX from BOŚ BANK and several foreign entities. The recent addition of OANDA, AvaTrade, ATFX and Plus500 may shake up the current environment, which was consolidating it strongly in recent years.
Finance Magnates asked the president of the largest Polish broker, XTB, for his opinion on the subject. Omar Arnaout pointed out that the Polish market is one of the most competitive markets in Central Europe, and it is comprised of both local and international companies. For XTB it is important to maintain the position of the market leader, and Mr. Arnaout is confident that his company has ‘the know-how and the experience to do so’.
“After the introduction of the product intervention in 2018, the industry has become very challenging, especially for small and medium-sized brokers, so I believe that generally, and regardless of whether we are talking about Poland or any other place in the world, only the biggest and most optimized companies will be able to grow. It is one of our key goals that we do not only want to be one of the biggest CFD and stock providers in Europe but also on a global scale. This is why we recently started our partnership with our new brand ambassador, Jose Mourinho - one of the world's most successful football managers,” Mr. Arnaout stated.
To get the full article and the bigger-picture on FX/CFD industry in Poland, get our latest Quarterly Intelligence Report.
The Polish FX/CFD market, which is one of the most developed retail markets in Europe with an established position and strong brokerage brands, has attracted the interest of several international brokers over the past few months, including among others AvaTrade, Plus500, OANDA and ATFX.
Poland: A Country, with Even Bigger Retail Trading Potential
Poland is one of the 40 largest countries in the world in terms of population and, according to data from August 2020, has over 38 million citizens. However, the free market economy has only been developing in Poland for 30 years, previously under the domination of the communists. Thus, economic awareness is relatively low, as is the number of active retail investors. This year, the number of brokerage accounts maintained by Polish residents achieved a record of 1.3 million. While in comparison to other European nations this number might be modest, they are rising rapidly.
For years, Poland has been associated with a country that has been very proactive in regulating the derivatives market. First, in 2015, the local Polish Financial Services Authority (PFSA), to protect investors from exotic brokers' offers and very high Leverage, introduced its limitation to 100:1. Three years later, as the only EU28 country, it opposed the European Securities Markets Authority (ESMA) proposal to limit the leverage to a maximum of 30:1. Then it introduced its regulations, which led to the creation of an independent category of ‘experienced trader’. Retail customers who can confirm their market knowledge and experience can use more attractive trading conditions.
Polish FX/CFD Market Grows but XTB Is Confident of Its Dominant Position
In the Polish Forex market, apart from XTB and TMS Brokers, only a few local players stand out. These include bank brokers: mForex from mBank, BossaFX from BOŚ BANK and several foreign entities. The recent addition of OANDA, AvaTrade, ATFX and Plus500 may shake up the current environment, which was consolidating it strongly in recent years.
Finance Magnates asked the president of the largest Polish broker, XTB, for his opinion on the subject. Omar Arnaout pointed out that the Polish market is one of the most competitive markets in Central Europe, and it is comprised of both local and international companies. For XTB it is important to maintain the position of the market leader, and Mr. Arnaout is confident that his company has ‘the know-how and the experience to do so’.
“After the introduction of the product intervention in 2018, the industry has become very challenging, especially for small and medium-sized brokers, so I believe that generally, and regardless of whether we are talking about Poland or any other place in the world, only the biggest and most optimized companies will be able to grow. It is one of our key goals that we do not only want to be one of the biggest CFD and stock providers in Europe but also on a global scale. This is why we recently started our partnership with our new brand ambassador, Jose Mourinho - one of the world's most successful football managers,” Mr. Arnaout stated.
To get the full article and the bigger-picture on FX/CFD industry in Poland, get our latest Quarterly Intelligence Report.
A graduate of the Warsaw School of Economics, Sylwester received an MA specializing in finance and banking. As Finance Magnates' research associate and STA certified analyst, he leaves no stone unturned. Sylwester is the previous minority partner of an NFA registered US forex broker, and since 2003, has participated in many forex projects.
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How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
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In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
