Best Low Cost Brokers in Poland
Top 3 Low-Cost Platforms for Traders in Poland
XTB, a Polish broker, is locally regulated and provides trading opportunities at the local stock exchange. Polish traders can rely on XTB's services, which are subject to local regulations, ensuring compliance with the country's financial laws and offering an added layer of security and accountability.
XTB charges low commissions on various financial instruments, including stocks, forex, indices, commodities, and cryptocurrencies. Additionally, they offer commission-free trading on certain products, further reducing trading costs for their clients.
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DEGIRO stands out as a low-cost broker due to its competitive fee structure and transparent pricing. The platform offers commission-free trading for a limited selection of ETFs, which allows investors to build diversified portfolios without incurring trading fees on those specific assets.
For other types of investments, DEGIRO charges low commissions, making it an attractive choice for cost-conscious traders and investors. The broker provides a clear overview of all applicable fees, ensuring transparency and helping clients understand their trading costs upfront.
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How to categorize a Broker as cheap?
Below are the main criteria that we have considered when making this ranking:
The minimum deposit must be low (or null). A low minimum deposit means that operating the platform does not require a lot of capital.
The Broker should not charge a fixed commission per trade. The Broker must charge commissions because that is what they do, but when they set a fixed rate, it implies that a buy and sell order must have a minimum amount to generate any profit. As an example, if you open a trade for a total value of 20 dollars and the Broker charges a fixed commission of 10 dollars to complete the operation (Opening and Closing), then the trade must generate at least 10 dollars, that is, it must grow 50%. Brokers that do not charge a fixed commission tend to charge high spreads.
Spreads and Overnight Financing should be as low as possible. Related to the previous, if a broker does not charge fixed commissions, the only way to earn money is through margins and overnight financing. Overnight financing costs are levied when a trade is left open until the next day; Brokers charge this cost as if it was a loan, which, indeed, it is. To be considered low, these trading costs should be as low as possible.
Last but not least, the Broker has to be available to clients in Poland.
Above we present our Top 3 of the best Trading platforms that we consider as 'Low Cost'.
eToro operates as a commission-free broker for stock trading, meaning that users can buy and sell stocks without incurring traditional commission fees.
Additionally, eToro offered relatively low spreads for stock trading. This contributes to eToro's reputation as a low-cost broker.
Furthermore, eToro's platform provided a user-friendly and intuitive interface, making it accessible to both beginners and experienced traders. The platform also allows social trading, enabling users to follow and copy the trades of successful investors on the platform, known as "Popular Investors."
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Generally speaking, clients of trading platforms want to pay fewer and smaller commissions. Therefore, we present the top 3 of the cheapest Brokers.