31 May, AtoZ Markets – Forex broker easyMarkets has made a decision to leave Polish market. According to the online reports, the firm is planning to exit the market by June 30, 2018. It is also known that the company will be withdrawing the registration of its Polish branch Easy Forex Trading Sp. Zoo.
Forex Broker easyMarkets Leaves Polish Market
Reportedly, the company has sent an email to its clients this morning, thus notifying them about the upcoming changes. easyMarkets has told clients in Poland that the headquarters in Limassol, Cyprus, will handle their trading operations as of 31 May 2018. This would also include the reception and transmission of orders.
In December 2017, the Polish Ministry of Finance has issued a draft of a new law in regards to the Forex market. The draft has proposed extensive changes to the Forex regulations in Poland. The changes included the imposition of maximum leverage on Forex trading accounts to 1:50. The draft of these suggestions enables brokers to lift the maximum permitted leverage to 100:1 only if a customer made at least 40 transactions during the last 2 years.
Back in July 2017, the Polish officials have announced plans to cut the maximum leverage from 1:100, with a margin of 1 percent, to 1:25 with a margin of 4 percent.
Polish maximum leverage levels in line with EU
The actions have reflected the present regulatory clampdown on the high-risk retail trading products. In addition, the latest Polish regulations are coming in line with other European nations’ regulatory frameworks. For instance, the Financial Conduct Authority (FCA) of the UK has proposed a maximum leverage of 50:1 and Cypriot regulator CySEC has added similar restrictions. The latter regulator has, however, allowed for the use of higher leverage levels for the experienced traders.
The main regulator of the Polish financial markets, the Polish Financial Supervision Authority (KNF), has recently issued a number of reports in relation to the market. The reports stated that 36.1 percent of clients investing in currency derivatives were in profit, this is down from 39.5 percent in the Q4 2017.
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