Binary Options Trading in Poland
Poland has a very interesting market, and is in a peculiar, yet rewarding stage for investors. The country has joined the EU but has yet to replace its national currency- Zloty, with the Euro. Zloty is strongly influenced by the Euro thus causing an unstable market for trading binary options. Investors must be careful because of this, but the good news is the liquidity of the market is really good, proving for an excellent time for investors to get in. Now, the trading of binary options in Poland can be a lucrative investment as the market stabilizes.
Binary options trading in Poland is attracting many new investors to the country. With the high liquidity and ample opportunity to take advantage of the market, traders can be quite successful when using the right strategies. Poland is rather accepting of the investment practice of binary options trading and implies the same laws as forex trading for it. This makes binary options trading legal and regulated by the Polish Financial Supervision Authority, also known as KNF.
Many brokers are choosing to offer their services in Poland due to the increased popularity in binary options trading. Investors must still be wary on which broker they choose, as binary options trading has had its fair share of fraudulent companies take advantage of investors. This is no different for Polish investors, and they are advised to trade with only licensed and regulated brokers.
Recommended Binary Brokers in Poland
Currency Pairs & Spread
Common currency pairs in Poland are much the same as other countries who trade binary options. The majority of traders’ trade what are called ‘Major’ currencies. These currency pairs include: EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF, AUD/USD, and NZD/USD. These currency pairs have the tightest spreads due to their frequent trade volume.
Another currency pair unique to Polish traders is the Polish Zloty (USD / PLN). The Polish Zloty is the national currency of Poland, hence making it a popular currency to be traded. It is very volatile now and is strongly influenced by the Euro. Some traders in Poland are attracted by this in hopes to make large gains. This currency pair falls under the category of ‘Minors’, which include other currencies such as: USD/SEK, USD/ZAR, USD/MXN, USD/SGD. These currency pairs have wider spreads, but are still popular among some traders.
Trading Platforms
Polish traders have plenty of reputable platforms to choose from for binary options trading. Many of these platforms are from other European countries, but are well accepted in Poland due to Poland’s EU member state status. Although when choosing a platform, one should make sure it is licenced and regulated by the country it resides if not by the Polish regulatory authority as well.
All the best trading platforms in Poland offer mobile and desktop applications which provides investors access to the platform from anywhere. As well, the platforms offer intuitive design and usability for executing trades, technical and analytical analysis, and market research. These platforms also boast powerful and technical software for a seamless trading process. In Poland, there is no shortage of reputable platforms to choose from.
Bonuses
Bonuses are not something new to binary options. This is the case for Polish brokerages as well, just as in most of Europe. There are various bonuses that companies offer their clients, enticing them into signing up, making more deposits, or simply to keep them trading with their platform. Some of the most common types of bonuses are as follows:
- Welcome Bonus – This is the most common type of bonus, usually receiving an amount of money just for joining a brokerage and making an initial deposit.
- No Deposit Bonus – Another bonus, like the welcome bonus, rewards you with money just for signing up and doesn’t even require a deposit.
- Mobile Bonuses – This is a bonus for downloading a brokerages mobile application and using it.
- Refer a Friend Bonus – Receive money for getting a friend to sign up, they may be required to make an initial deposit.
There is a wide variety and different variations of these bonuses, but they always result in the trader saving or gaining some money for trading on the platform.
Deposit and Withdrawal Options
Today, there are numerous ways to deposit and withdrawal money. You can be paid from anywhere in the world at any time with various methods. Polish brokerages are no exception to this, accepting many forms of deposit and withdrawal methods. The most common methods include:
- Bank Wire Transfers – Most anyone from anywhere in the world can complete a bank wire transfer. There are no restrictions with the use of bank wire transactions. This method proves to be very popular among Polish investors.
- Credit Card – This option proves to be quite simple for investors, and is widely accepted in Poland. There is a high percentage of trust using credit cards for deposits and withdrawals in Poland.
- Securities Transfers – An option available for those who intend on making very large deposits or withdrawals. It depends on the account type and the minimum deposit amount.
- E-Wallet Providers – Another popular method among Polish investors. Common online money transfer options in Poland include; PayPal, Neteller, and Skrill.
Legality & Regulations
Binary options trading among the trading of other financial instruments are regulated by the Polish Financial Supervision Authority, also known as PSFA or KNF to the Polish. This regulatory authority was established in 2006 and has since taken on obligations of the SEK (Securities and Exchange Commission) and IPFSC (Insurance and Pension Funds Supervisory Commission), as well as other responsibilities.
The KNF regulates the market by providing policies and enforcing their laws on financial institutions. They also monitor the market and provide insight into financial companies, such as which ones may be fraudulent or untrustworthy.
Poland is considered to have very high and powerful regulatory standards amongst the European countries. It’s competent and efficient laws and regulations allow the trading of binary options to be legal and trustworthy in Poland.
FAQ
- Are binary options legal in Poland?
Yes, the trading of binary options is legal in Poland.
- Are binary options regulated in Poland?
Yes, certain aspects of binary options are regulated, but there is a lot of grey areas. Thus, making it somewhat unregulated like in most of Europe.
- How can I trade binary options in Poland?
First you must open an account with an investment firm offering binary options trading. Keep in mind, the company must be authorized to conduct business in Poland by the KNF. Once that is determined, it is quite simple, and can be done online in a few simple steps. Some companies do not even require a deposit to start trading.
- Is it safe to trade binary options?
When trading binary options with a brokerage operating out of Poland, it is safe. They should be a reputable company operating under the KNF of Poland.
Best Brokers in Poland?
There are now many binary options brokers paying attention to Poland and offering their services to Polish investors. Some of the most popular and well-regulated brokers are IQOption, MarketsWorld and more.
Conclusion
This article has attempted to overview the investment practice of binary options trading in Poland. We have extensively examined the processes and legality of binary options in Poland. As well, we have examined the financial markets in Poland and provided insight into binary options trading in this lucrative country. All in all, Poland proves to be an up and coming country for the successful trading of binary options.