Brokers With PLN Accounts
Brokers with PLN accounts allow traders to manage their portfolios with the Polish zloty as the base currency. As a relatively small economy, the Polish zloty is not as commonly traded as the US dollar or euro, however, PLN accounts do offer advantages for Polish investors. This article will cover the benefits, the history of the currency and list the best brokers with PLN accounts in 2024.
Brokers With PLN Accounts
These are the 5 best brokers that offer accounts with PLN as the base currency:
Brokers With PLN Accounts Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Visit |
|---|---|---|---|---|
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$5 | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures | MT4, MT5 | Visit |
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$100 | CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral | Visit |
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$10 | CFDs, Forex, Stocks, Indices, Commodities, Crypto | BDSwiss Webtrader, MT4, MT5 | Visit |
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$50 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds | ProTrader, MT4, MT5, TradingView, DupliTrade | Visit |
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$100 | CFDs, Forex, Stocks, Indices, Commodities, Futures | FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade | Visit |
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$0 | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting | Web, MT4 | Visit |
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€100 | CFDs, Forex, Stocks, Cryptos, Commodities | MT4, MT5, TradingView | Visit |
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$100 | CFDs, Forex, Stocks, Commodities, Indices, Crypto, ETFs, Bonds, Spread Betting (UK Only) | Markets.com Web/App Platform, MT4, MT5 | Visit |
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$1 | CFDs, Forex, Stocks, Cryptos, Commodities | MT4 | Visit |
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$100 | Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs) | MT4, AutoChartist, TradingCentral | Visit |
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$100 | Forex, CFDs, indices, shares, commodities, metals, cryptocurrencies, bonds, binary options | MT4, AlgoTrader | Visit |
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$0 | Stocks, Cryptos, Commodities | Own | Visit |
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$15 | CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities, Bonds | MT4, MT5, cTrader | Visit |
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$100 | CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto | MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral | Visit |
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$100 | Forex, CFDs, Indices, Stocks, Commodities, Cryptos | MT4, MT5, TradingCentral | Visit |
#1 - XM
Why We Chose XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
- DayTrading Review Team
- Instruments: Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
- Regulator: ASIC, CySEC, DFSA, FSC, FSCA
- Platforms: MT4, MT5
- Minimum Deposit: $5
- Minimum Trade: 0.01 Lots
Pros
- 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries
- XM is a hugely respected broker authorized by tier-one regulators
- XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
Cons
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- PayPal deposits are not supported
- There is weak regulatory oversight through the global entity
#2 - FOREX.com
Why We Chose FOREX.com
Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Cryptos, Futures, Options, Commodities
- Regulator: NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
- Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
- Leverage: 1:200 (Retail), 1:500 (Pro)
Pros
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
#3 - BDSwiss
Why We Chose BDSwiss
BDSwiss is an award-winning forex and CFD broker founded in 2012. The firm offers 250+ instruments to clients in over 180 countries. With spreads from zero pips and three powerful charting platforms, they offer a rounded day trading package for beginners and seasoned investors alike. The broker is regulated by the Mauritius FSC and Seychelles FSA.
"BDSwiss will suit active day traders looking for raw pricing, fast execution and powerful trading software with a range of pre-included analysis tools. That said, the range of 250+ assets is smaller than most top competitors."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
- Regulator: FSC, FSA
- Platforms: BDSwiss Webtrader, MT4, MT5
- Minimum Deposit: $10
- Minimum Trade: 0.01 Lots
- Leverage: 1:30
Pros
- BDSwiss offers an excellent suite of education resources for beginners including webinars, eBooks and seminars
- BDSwiss is a globally recognised brand with a 10+ year history transparent trading conditions
- Choice of powerful day trading terminals, including an in-house app with 50+ technical tools, a Trend Analysis feature and an advanced Market Watch window
Cons
- The range of 250+ assets is mediocre compared to most leading brokers which typically offer 1000+
- The lack of a top-tier regulator like the CySEC or ASIC brings down the trust score a little
- VPS plans start from €30 per month, which is not the cheapest
#4 - Vantage
Why We Chose Vantage
Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
- Regulator: FCA, ASIC, FSCA, VFSC
- Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade
- Minimum Deposit: $50
- Minimum Trade: 0.01 Lots
- Leverage: 1:500
Pros
- Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
- The broker has recently made efforts to expand its suite of CFDs providing further trading opportunities
Cons
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
- Unfortunately, cryptos are only available for Australian clients
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
#5 - FxPro
Why We Chose FxPro
Founded in 2006, FxPro is an established forex, CFD and spread betting broker offering 2100+ assets to over 2 million clients worldwide. The broker is regulated in 4 jurisdictions and offers reliable 24/5 customer support, earning it a high trust and safety score. FxPro has also picked up more than 100 industry accolades for its competitive trading conditions, including fast execution and deep liquidity.
"FxPro is best for experienced traders looking for wide market access, premium research tools and advanced charting platforms. The competitive fees and fast execution will serve serious short-term traders, whilst the BnkPro investment service will appeal to those looking for long-term e-money solutions."
- DayTrading Review Team
- Instruments: CFDs, Forex, Stocks, Indices, Commodities, Futures
- Regulator: FCA, CySEC, FSCA, SCB, FSC
- Platforms: FxPro Platform, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade
- Minimum Deposit: $100
- Minimum Trade: 0.01 Lots
- Leverage: 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited)
Pros
- There are 4 superior day trading platforms, including a proprietary solution with over 50 indicators, 7 chart types and an impressive 15 chart time frames
- Comprehensive analysis and trading tools are available for seasoned traders, including signals powered by Trading Central and VPS hosting
- There's an interactive learning center for beginners with tests, courses, video tutorials and webinars
Cons
- FxPro's services are mainly geared towards experienced investors and beginners may find the broker's fees and accounts complex
- The broker charges a $10 inactivity fee after 6 months of account dormancy, though this is more lenient than many brokers
- There are only a handful of payment methods available, compared to the 10+ offered at top competitors like AvaTrade
What Is A PLN Account?
A PLN account means you can deposit, hold, and trade in Polish zloty. This is known as an account base currency. All profits, losses, commissions, fees and account management takes place in the selected money which can be selected at the sign-up stage.
It is worth noting that you do not necessarily have to deposit in your base currency. For example, a USD deposit to a PLN account will be converted to Polish zloty at the current exchange rate.
Note, you may need to open a new account to change the base currency.
PLN Currency Explained
The Polish zloty (PLN) is the official currency of Poland. The currency has a long history dating back to 1919 although it was not circulated in the country until 1924.
The monetary policy of Poland is directed by the Narodowy Bank Polski (NBP), the central bank. Responsibilities of the NBP include price stability through the release of coins and notes.
Importantly, Poland’s acceptance into the EU in 2004 required the implementation of the Euro. Yet as of 2022, conversion to the currency has not been executed.
The typical exchange rate of the currency floats between three to four PLN to one USD. In 2021, the currency was ranked the 22nd most traded in the world, accounting for 0.6% of the daily forex market turnover.
Benefits Of Brokers With PLN Accounts
- Charges – The majority of brokers with PLN accounts do not charge fees for deposits and withdrawals in Polish zloty, though third-party charges may apply. Importantly, this can help protect profit margins.
- Easy Access – Polish traders can use PLN accounts to access international markets, such as European stock exchanges, major forex pairs, and cryptos like Bitcoin. Brokers accepting the local currency essentially make the trading process smoother, removing the need for currency conversions to the USD or Euro, for example.
- Use Existing Payment Methods – PLN accounts often work seamlessly with local deposit and withdrawal solutions such as Przelewy24. These tend to offer quick processing times, with funds often available within one working day. You may already have set up a local deposit solution so you could fund a trading account and begin investing right away.
- Regulation – Brokers offering a PLN account to Polish citizens are more likely to be regulated by the Polish Financial Supervision Authority. The regulatory body provides access to compensation schemes and ensures negative balance protection for all retail traders. Also look out for other top-tier international authorities such as the Cyprus Securities & Exchange Commission (CySEC).
How To Check A Broker Offers A PLN Account
It may not be clear at first glance if a broker offers a PLN account. However, most brokerages provide details on account denominations on their registration page. Alternatively, you can check the payments area for details of accepted currencies by deposit method. Remember, exchange rate charges may apply if accounts aren’t available in a registered currency.
If information is still unavailable, it could be worth contacting the broker’s customer support team. Note, live chat often provides the quickest response times.
Comparing Brokers With PLN Accounts
Brokers with PLN accounts are ideal for investors who actively trade the Polish zloty or for those based in Poland. However, choosing between providers can be time-consuming, so we have summarised the key considerations below:
- Fees – Costs can vary between brokers that offer PLN trading accounts. Spreads and commissions can quickly eat away at profits so compare charges associated with your asset of choice.
- Demo Accounts – Paper trading profiles are a great way to test out a broker’s platforms and tools before opening a live account. You can test strategies in a risk-free, simulated environment with access to virtual funds.
- Mobile App – It is worth checking the broker offers access to a mobile application. Trading on the go is important in the fast-paced day trading environment, so a compatible mobile app can keep you connected wherever you are.
- Assets – Brokers offer various assets and products. Decide on which market you are interested in investing in before opening an account with a broker. This might include trading on a major European exchange or speculating on forex pairs like the USD/PLN, EUR/PLN or GBP/PLN.
- Minimum Deposit Requirements – How much Polish zloty is required as an initial deposit to fund an account? Look out for brands with low starting requirements if you are a new investor. XM for example, has a minimum deposit requirement of $5 or around 20 Polish zloty.
- Regulation – The best brokers with PLN trading accounts are regulated and authorised by a top-tier financial body. Those offering services to Polish residents may also hold a license with the Polish Financial Supervision Authority (PFSA). You can check whether your trading broker is a member of an institution via their official websites and registers. Importantly, regulated brokers provide capital protection and safeguarding initiatives for retail traders.
Final Word On PLN Trading Accounts
Brokers with PLN trading accounts are ideal traders in Poland, as well as international investors looking to actively trade the currency. It is certainly not a common base currency vs the USD, GBP or EUR, but you can still find top-rated and reliable brands. See our list of supporting brokers to start trading today.
FAQs
Which Brokers Offer PLN Trading Accounts?
Several leading brokers offer PLN as a live account base currency. These include XM, CMC Markets and FxPro.
Can Anyone Open A PLN Trading Account?
Yes, typically all traders can open a PLN account. With that said, it is best to check eligibility for your country of residence before opening a live account. A currency conversion may also be required if the base currency is not your local fiat money.
How Can I Choose Between Brokers With PLN Trading Accounts?
There are many considerations when choosing between online brokers. Your personal preferences and requirements may play a part, but key factors to compare include asset access, platforms, regulatory status, mobile applications and fees.
Why Use Brokers With PLN Trading Accounts?
Registering with a broker that offers a PLN account has several benefits, particularly for Polish traders or those actively trading the currency. This includes straightforward access to financial markets and assets, no costly conversion fees and the utilisation of local funding methods.
Where Can I See If A Broker Offers A PLN Account?
This information is often published within the account details webpage or the deposits and withdrawals section of your broker’s site. It is also typically listed as a drop-down during account registration. If you cannot find any details, contact the broker’s customer support.