The number of active Forex traders in Poland surged by 40% in 2024, reaching nearly 117,000 participants, while total losses simultaneously rose by 18% to a staggering 1.29 billion zlotys ($325 million), according to new data from Poland's Financial Supervision Authority (KNF).

Poland's CFD Trader Count Hits 117,000 Amid 18% Loss Expansion

The regulator's annual report on the retail Forex (FX) and contracts for difference (CFDs) market reveals a complex picture of rapidly expanding participation amid persistent profitability challenges. The number of active Polish traders jumped from approximately 83,000 in 2023 to 116,903 in 2024, reflecting growing interest in trading despite the well-documented risks.

When we take into account not only Polish residents but also foreign ones, this number increases from 175,000 to nearly 247,000.

"We're witnessing an unprecedented expansion in market participation, but the financial outcomes remain concerning," the KNF commented in the report seen by FinanceMagnates.com. "While the percentage of profitable traders improved slightly, the absolute value of losses continues to climb as more individuals enter the market."

The detailed figures show that Polish residents' losses on CFD transactions increased from 1.05 billion zlotys in 2023 to 1.29 billion zlotys in 2024, representing an 18% year-over-year increase. During the same period, total profits among successful Polish traders grew more modestly, rising from 249.8 million zlotys to 305.7 million zlotys.

Again, when including all clients of Polish FX and CFD brokers, also foreign ones, the loss reached 2.08 billion zlotys.

As the regulator explains, the analysis includes “not only CFD contracts but also other OTC derivatives offered by KNF-supervised brokerage houses and firms through trading platforms.”

What The KNF Report Shows

The KNF data reveals several noteworthy trends in this rapidly expanding market:

• The number of profitable Polish traders increased by 53% year-over-year, from 22,812 to 34,827
• The number of unprofitable Polish traders grew by 36%, from 60,271 to 82,076
• Despite more traders finding success proportionally, the average profit per successful trader fell by 20%, dropping from 10,950 zlotys to 8,778 zlotys
• Average losses per unsuccessful trader improved slightly, decreasing from 17,456 zlotys to 15,749 zlotys

“A record number of active FX and CFD clients from Poland is certainly encouraging; it shows that, as a nation, we want to invest actively,” Arkadiusz Jóźwiak, the Editor-in-Chief of the retail investor media outlet Comparic.pl, commented for FinanceMagnates.com. “The XTB effect likely plays a significant role here — the broker has become a leader in the local market, attracting more and more clients through passive investments, who then also become interested in CFDs.”

The advantage over other major European markets is clearly visible. According to the latest Investment Trends report, in Germany—despite its much larger population than Poland’s—the FX and CFD market attracted only 63,000 active traders.

The situation is even worse in France, where just 29,000 individuals are interested in CFDs. The UK still holds the lead by a wide margin, where CFDs—thanks to the popularity of spread betting—have enjoyed strong demand for years. Around 200,000 investors remain active in that market.

Polish FX and CFD Market Growth Outpaces Profitability

The five-year data signals that while the percentage of profitable Polish traders has improved from 22.6% in 2020 to 29.8% in 2024, the total financial impact on the market has grown substantially. The absolute number of Polish residents losing money on the CFD transactions has nearly tripled since 2020, growing from 30,365 to 82,076.

Total losses increased from 661 million zlotys in 2020 to 1.29 billion zlotys in 2024 (96% increase). At least Polish traders are getting smarter about how they lose money. The average winner's take home shrank dramatically—from 18,383 zlotys to a 8,778 zlotys (down 52%).

Moreover, the total number of active Polish traders nearly tripled from 39,226 in 2020 to 116,903 in 2024. This represents a compound annual growth rate of approximately 31%.