Malta
Netherlands
North Macedonia
Romania
Spain
SwedenNikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the KNF decision, including banking and payment rails.
Get a forex license in Poland.
A MiFID licence with a two-month statutory clock and the EU's only formal 100:1 retail tier: forex and CFD brokerage in Poland runs on the KNF licence for a brokerage house (dom maklerski) under the Act of 29 July 2005 on Trading in Financial Instruments. Initial capital follows the EU tiers of €75,000, €150,000 and €750,000, the licence fee is capped at €4,500, and the Act itself fixes a 1% minimum margin for retail derivatives. Corporate tax is 19%, 9% for small taxpayers. We run the file from our Warsaw office.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated · Reviewed by the Prifinance team
Poland in brief
Two months on paper, 100:1 for the experienced.
Poland licenses forex and CFD brokerage as działalność maklerska: dealing in derivatives for clients needs the KNF licence for a dom maklerski under Art. 69(1) of the Act of 29 July 2005 on Trading in Financial Instruments (consolidated text Dz.U. 2024 poz. 722), which has carried MiFID II since the amendment of 1 March 2018 and the IFD capital classes since the Act of 1 October 2021. The licence lists the Art. 69(2) activities the model needs: reception and execution of orders for an agency broker, dealing on own account (pkt 3) for a market maker, with client cash accounts as the ancillary activity of Art. 69(4) pkt 1. Initial capital under Art. 98 is €750,000 for own-account dealing, €150,000 by default, and €75,000 only where the firm keeps no client accounts and runs no MTF. Art. 84(1) gives the KNF two months to decide. Time spent completing the file does not count.
Two Polish rules have no equivalent elsewhere in the EU. Art. 73(2a) writes a 1% minimum margin for retail derivatives into statute, and KNF decision DAS.456.2.2019 of 1 August 2019 layers the ESMA tiers on top (30:1 on major pairs down to 2:1 on crypto) while opening a 100:1 tier on currency pairs, gold and ten named indices for experienced retail clients who pass a volume and knowledge test. The licence fee is capped at €4,500 under Art. 162(1). The running costs are formula-driven: a KNF annual fee of up to 0.5% of average revenue and KDPW compensation-scheme contributions of up to 0.4% of client cash. Corporate tax is 19%, or 9% for small taxpayers under €2,000,000 of revenue. The register is consolidating - 26 brokerage houses at end-2024, four exits and one new licence. A natural person cannot be the sole shareholder; the founder files through a holding company. We run the file from our Warsaw office.
The dom maklerski licence under Art. 69 of the Act on Trading in Financial Instruments: capital €75k/€150k/€750k (Art. 98), two months to decide (Art. 84), fee capped at €4,500, ESMA tiers plus a 100:1 experienced-retail tier.
19% corporate tax, 9% for small taxpayers; KNF fee up to 0.5% of revenue. Sole shareholder must be a company. Filed from our Warsaw office.
The two routes
Dealing on own account - or the agency dom maklerski.
One KNF licence under Art. 69, two architectures: the market maker at €750,000, or agency and STP models at €75,000-€150,000, each fee-capped at €4,500 and passported under Art. 104. We fix the model first, then build once.
The €750k market-maker dom maklerski - or agency at €75k-€150k, fee-capped at €4,500.
01 - DEALING ON OWN ACCOUNT
The market-maker dom maklerski
Art. 69(2) pkt 3 with execution: the principal licence at €750,000 initial capital under Art. 98(3), IFR K-factor own funds above it, and the KNF's CFD decision - ESMA tiers plus the 100:1 experienced-retail tier - built into the product.
Art. 69(2) pkt 3 with execution: the principal licence at €750,000 initial capital under Art. 98(3), IFR K-factor own funds above it, and the KNF's CFD decision - ESMA tiers plus the 100:1 experienced-retail tier - built into the product.
- ✓Dealing on own account - Art. 69(2) pkt 3
- ✓€750,000 initial capital (Art. 98(3))
- ✓K-factor own funds under IFR
- ✓ESMA tiers plus the 100:1 experienced tier
- ✓Client cash under Art. 73(5a)-(5q)
- ✓Passport into 30 EEA states (Art. 104)
02 - AGENCY · STP
€75k-€150k initial capitalThe agency dom maklerski
Reception, transmission and execution under Art. 69(2) pkt 1-2 at €150,000 - or €75,000 where the firm keeps no client cash accounts and runs no MTF (Art. 98(2)), which rules out holding retail margin on the firm's own books.
RTO/execution; €150k default, €75k without client accounts or MTF; same clock; upgrade by new application.
- ✓Reception, transmission, execution
- ✓€150,000 - the default class (Art. 98(1))
- ✓€75,000 - no client accounts, no MTF
- ✓Licence fee €1,000 per activity, €4,500 cap
- ✓Same two-month clock
- ✓Upgrade to own account by new application
Costs and timelines are confirmed for your case before any work begins. The KNF licence fee is €1,000 per activity, capped at €4,500 in total; the annual supervisory rate is set each year by the KNF and confirmed in the quote.
Why Poland
A fast clock, a capped fee and a tier nobody else has.
The standard MiFID product, filed under a statute that commits the regulator to two months and prices the licence at €4,500.
✓
A two-month statutory clock
Art. 84(1): the KNF decides within two months of filing. The deadline excludes time spent completing the file, so a file that is complete on day one is the whole schedule.Art. 84(1), from filing.
✓
A licence fee capped at €4,500
€1,000 for each of reception, execution and own-account dealing, €2,500 for portfolio management, €2,000 for advice; Art. 162(1) caps the total at €4,500 whatever the scope.€1,000 per activity.
✓
The 100:1 experienced-retail tier
Poland is the one EU state with a formal 100:1 retail tier: on currency pairs, gold and ten named indices, for clients who pass the KNF's volume and knowledge test. Everyone else trades at the ESMA tiers.For experienced retail clients only.
✓
19% tax, 9% for small taxpayers
Art. 19 of the CIT Act: 19% as standard, 9% on operating income for taxpayers below €2,000,000 of revenue; dividends to an EU parent holding 10% for two years leave untaxed.Small taxpayers under €2m.
✓
A home market with a register
26 brokerage houses at end-2024, ten of them passporting out without a branch, sector net profit PLN 1,017 m and 18 of 26 profitable - the KNF's own report on the sector's financial position at 31 December 2024.26 houses, PLN 1,017 m profit.
✓
Statements under criminal liability
Every board member's and shareholder's statement in the file is given under criminal liability (Art. 82(2a)), and the KNF may refuse where group structure obscures the real owners (Art. 85(1)). The file is built for that reading.The file is read that way.
How it compares
How Poland differs from other routes.
The honest comparison: Poland is the fastest clock in the batch; Cyprus has the cluster; Czechia has no annual levy at all.
Poland vs other jurisdictions
| Feature |  Poland | Other jurisdictions |
|---|---|---|
| Regime | Act on Trading 2005 - MiFID II, KNF | MiFID desks or offshore |
| Initial capital | €75k-€750k by model | US$0-2M spread |
| Statutory decision | 2 months from filing | 6 months EU standard · 120 days Italy |
| Retail leverage | 30:1 · 100:1 experienced tier | 30:1 ceiling everywhere else in the EU |
Regime
PolandAct on Trading 2005 - MiFID II, KNF
Other jurisdictionsMiFID desks or offshore
Initial capital
Poland€75k-€750k by model
Other jurisdictionsUS$0-2M spread
Statutory decision
Poland2 months from filing
Other jurisdictions6 months EU standard · 120 days Italy
Retail leverage
Poland30:1 · 100:1 experienced tier
Other jurisdictions30:1 ceiling everywhere else in the EU
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Poland | KNF dom maklerski | 19% CIT · 9% small | IFD €75k-€750k, 2-month clock |
 Czechia | ČNB investment firm (OCP) | 21% CIT · 15% WHT | IFD €75k-€750k, no annual levy |
 Germany | BaFin Wertpapierinstitut | 15.825% + trade tax | WpIG €75k-€750k, German-language file |
 Cyprus | CySEC CIF | 15% CIT (2026) | IFD €75k-€750k, EU passport |
PolandLicense typeKNF dom maklerski
Taxation19% CIT · 9% small
RequirementsIFD €75k-€750k, 2-month clock
CzechiaLicense typeČNB investment firm (OCP)
Taxation21% CIT · 15% WHT
RequirementsIFD €75k-€750k, no annual levy
GermanyLicense typeBaFin Wertpapierinstitut
Taxation15.825% + trade tax
RequirementsWpIG €75k-€750k, German-language file
CyprusLicense typeCySEC CIF
Taxation15% CIT (2026)
RequirementsIFD €75k-€750k, EU passport
Europe
Forex licences in neighbouring jurisdictions
Before you apply
Requirements for the KNF licence.Requirements for the licence.
Art. 82 and Art. 95-103 of the Act define the file and the KNF reads it against Art. 85's refusal grounds. The checklist below is what a passing application contains.
01
Polish company - an S.A. or sp. z o.o. seated in Poland (Art. 95(1)); partnerships may neither deal on own account nor execute orders.
02
A corporate sole shareholder - where one owner holds everything, it must be a legal person (Art. 95(7)-(8)); shares may not be paid for with loans or undocumented money (Art. 95(5)).
03
Initial capital - €750,000, €150,000 or €75,000 by model under Art. 98, in PLN at the NBP rate of the day before filing (Art. 98(10)).
04
A two-person board - at least two members (Art. 103(1)) with impeccable reputation, knowledge and experience, approved by the KNF in the licence decision (Art. 84(1a)).
05
A supervisory board - mandatory in a sp. z o.o. or S.K.A. dom maklerski (Art. 95(9)), its members assessed like the board.
06
The Art. 82 file - the information of Delegated Regulation (EU) 2017/1943, the list of shareholders, MAR Art. 16 and confidentiality procedures, and statements on convictions and sanctions given under criminal liability (Art. 82(2a)).
07
Client cash architecture - separable deposits, no use for own account, no title-transfer collateral with retail clients, group deposits capped at 20% (Art. 73(5a)-(5q)).
08
Retail CFD conduct - the 1% statutory margin floor (Art. 73(2a)), the ESMA tiers of decision DAS.456.2.2019, close-out, negative balance protection, no bonuses, the risk warning in every advertisement.
09
Compensation scheme and fees - automatic KDPW scheme membership (Art. 135(1)) with contributions of up to 0.4% of client cash, and the KNF annual fee of up to 0.5% of revenue (Art. 163(7)).
10
AML/CFT - obliged-institution status under Art. 2(1)(4) of the AML Act of 1 March 2018, with reporting to the GIIF and a programme the KNF can inspect.
01
Polish S.A. or sp. z o.o.
02
Corporate sole shareholder, no loans.
03
Capital per Art. 98 class.
04
Two-person board, KNF-approved.
05
Supervisory board where required.
06
Art. 82 file, criminal-liability statements.
07
Client cash separable, 20% group cap.
08
1% floor, ESMA tiers, warning.
09
KDPW scheme, KNF annual fee.
10
AML programme, GIIF reporting.
Reflects the Act of 29 July 2005 on Trading in Financial Instruments (Dz.U. 2024 poz. 722), IFR/IFD and the KNF decisions as of 2026; the two amending acts of 2026 are checked against your file at filing.Act on Trading 2005 (Dz.U. 2024 poz. 722) + IFR/IFD, as of 2026.
How it works
From first call to the KNF register.
01
Model and strategy
Market maker or agency, Art. 69(2) activities and the capital class - fixed in writing before any drafting.MM or agency - Art. 69(2) set fixed.
02
Company and people
Polish entity, corporate shareholder, capital at the NBP rate, the two-person board and the supervisory board the KNF approves.Holding, capital, two boards.
03
The application file
The Art. 82 pack complete at filing - the two-month clock excludes every day spent supplementing it.Complete - the clock excludes gaps.
04
KNF review
Question rounds answered; two months statutory, 8-12 months realistic end to end in our planning, formation included.2 months statutory, 8-12 planned.
05
Licence and launch
Register entry, ESMA notified by the KNF, EEA passports, scheme membership and banking live - business started within 12 months.Register, passports, start in 12.
Quick facts
RegulatorKNF
FrameworkAct on Trading 2005 · MiFID II
Capital - default€150,000
No client accounts€75,000
Own account€750,000
Licence fee€1,000 per activity · €4,500 cap
Statutory decision2 months from filing
Corporate tax19% · 9% small
The two-month clock rewards a complete file: the KNF counts no day spent supplementing. We file complete, with the statements and the plan written for the KNF's reading.
On the ground in Poland
Run from our Warsaw office.
Prifinance - Poland
Warsaw · Poland
Warsaw, Poland
01
Polish company formation
An S.A. or sp. z o.o. with the corporate shareholder, registered shares and supervisory board the Act demands - built for the KNF licence from day one.Holding, boards, registered shares.
02
The KNF file
The Art. 82 pack to Delegated Regulation 2017/1943, the business plan, client-cash and conduct documentation - drafted by our Warsaw lawyers and defended through the rounds.Drafted in Warsaw, defended.
03
People and substance
Two board members, a supervisory board, compliance and AML officers sourced in Warsaw; every statement prepared for the criminal-liability standard of Art. 82(2a).Boards and officers sourced locally.
04
Passporting and launch
KNF notification under Art. 104, KDPW scheme membership, banking and liquidity sequenced with the licence - and business started inside the 12-month window of Art. 89(1a).Art. 104, scheme, 12-month start.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of forex brokers in Poland.
19% on profit, 9% while small, 19% on dividends out unless an EU parent takes them - plus two regulator levies set by formula.
Corporate tax 19%
Art. 19(1) of the CIT Act of 15 February 1992; 9% on income other than capital gains for small taxpayers whose revenue stays under €2,000,000 (Art. 19(1d)), with a two-year exclusion after certain reorganisations.9% for small taxpayers.
Dividend withholding 19%
Art. 22(1); exempt to an EU/EEA parent holding 10% directly for two years (Art. 22(4)), 25% for a Swiss parent; treaty rates otherwise.0% to a qualifying EU parent.
VAT-exempt instruments
Services on financial instruments and their intermediation are exempt under Art. 43(1)(41) of the VAT Act, currency transactions under Art. 43(1)(7); safekeeping, management and advice are not.Art. 43(1)(41).
KNF annual fee up to 0.5%
Up to 0.5% of average total revenue of the three preceding years, never below €750 (Art. 163(7)); the first annual fee falls due for the year after the firm starts.Of revenue, min €750.
KDPW scheme up to 0.4%
Contributions of up to 0.4% of average client cash and 0.01% of client instruments, set yearly and paid quarterly (Art. 137); cover €22,000 per investor.Of client cash, quarterly.
Option to tax B2B
Art. 43(22): the firm may elect to charge VAT on financial services supplied to VAT-registered businesses - a modelling choice for an institutional desk, not a default.Art. 43(22), by election.
Tax summary
Corporate tax19% · 9% small
Dividend withholding19% · 0% EU parent
VAT on instrumentsExempt · Art. 43(1)(41)
KNF annual feeUp to 0.5% of revenue · min €750
KDPW schemeUp to 0.4% of client cash
*As of 2026 per the CIT Act, the VAT Act and the Act on Trading in Financial Instruments. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Polish company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed broker.
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Poland · KNF
Launch your forex project in Poland with expert support.
Full-service assistance - from company registration to the dom maklerski licence, passporting and ongoing compliance - run through our Warsaw office.
Get a consultation →Free legal opinion
Is Poland the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Poland forex licence, answered.
What licence does a forex broker need in Poland?+
A KNF licence for brokerage activity (zezwolenie na prowadzenie działalności maklerskiej) under Art. 69(1) of the Act on Trading in Financial Instruments: the firm is a dom maklerski, and the licence lists the Art. 69(2) activities it may perform - execution and reception for an agency model, dealing on own account for a market maker.
How much capital does the KNF require?+
€750,000 for dealing on own account (Art. 98(3)), €150,000 by default (Art. 98(1)), €75,000 only for a firm with no client cash accounts and no MTF (Art. 98(2)), converted at the NBP rate of the day before filing. IFR own funds run above the floor.
How long does the KNF take?+
Two months from filing under Art. 84(1), but days spent supplementing the file are not counted, so the real duration depends on completeness. We plan for 8-12 months end to end, company formation included, and file complete to keep the clock running.
What does the licence cost?+
€1,000 for each of reception, execution and own-account dealing, €2,500 for portfolio management, €2,000 for advice; Art. 162(1) caps the total at €4,500. The annual KNF fee is up to 0.5% of average revenue, minimum €750, from the year after the start.
What is the 100:1 experienced-retail tier?+
KNF decision DAS.456.2.2019 lets a retail client who passes a volume test (for example ten CFD trades of €50,000 notional per quarter over four quarters) and a knowledge test trade currency pairs, gold and ten named indices at 1% margin. Close-out, negative balance protection and the bonus ban still apply.
Can a natural person own a Polish broker outright?+
No - the sole shareholder of an S.A. or sp. z o.o. dom maklerski must be a legal person (Art. 95(7)-(8)), and shares may not be paid for with loans (Art. 95(5)). A founder holds through a company, which the KNF vets to UBO level.
Does a dom maklerski passport across the EU?+
Yes - a dom maklerski notifies the KNF under Art. 104 and operates in other Member States absent an objection; ten of the 26 houses did so without a branch in 2024. The 1% margin floor of Art. 73(2a) does not follow services provided abroad (Art. 73(2d)).
How are Polish brokers taxed?+
19% corporate tax, 9% for small taxpayers under €2,000,000 of revenue, 19% dividend withholding with an exemption for EU parents holding 10% for two years, and VAT-exempt dealing in financial instruments under Art. 43(1)(41).
Poland or Cyprus for a retail CFD broker?+
Cyprus has the broker cluster, 15% tax and a regulator that has read CFD files for two decades; Poland has the two-month clock, the €4,500 fee cap, the 100:1 experienced-retail tier and a home market of its own. A Polish-facing brand licenses in Warsaw; a pan-EU brand usually anchors in Limassol and passports in.
Why Prifinance for Poland?+
A Warsaw office, lawyers who build the Art. 82 file to the criminal-liability standard, and the holding structure, board and supervisory board the Act requires. We sequence the KDPW scheme, the passport notifications and the 12-month start window so the licence is put to work, not left on the register.
What licence?+
Dom maklerski - KNF, Art. 69.
Capital?+
€75k/€150k/€750k by class.
How long?+
2 months statutory; 8-12 planned.
Fee?+
€1,000 per activity, €4,500 cap.
100:1 tier?+
Experienced retail, FX, gold, indices.
Sole owner?+
Must be a legal person.
Passport?+
Yes - Art. 104 notification.
Taxes?+
19% CIT; 9% small; 19% WHT.
Vs Cyprus?+
Their cluster; your clock and tier.
Why you?+
Warsaw office, Art. 82 file built right.
Client notes
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Polish Financial Supervision Authority (KNF) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.