This article is for educational purposes and does not constitute investment advice. Investing carries the risk of losing part or all of your capital. Before opening an account, read the brokerage's terms and fee schedule.
A brokerage account (also called an investment account or securities account) is a bank-like account that lets you buy and sell shares, bonds, ETFs and other financial instruments. Without it, you cannot invest in the stock market on your own. In Poland, opening one is simpler than many beginners think.
Brokerage account vs. a regular bank account — the difference
A regular bank account is used for holding cash and everyday transactions. A brokerage account handles capital-market transactions — buying shares, ETFs, bonds — and holds both cash (as free funds) and securities (in a securities register).
Funds in a brokerage account are not covered by the BFG guarantee in the same way as bank deposits, but financial instruments are protected by the KDPW (National Depository for Securities) — they are recorded in your name, separately from the brokerage's own assets.
How to choose a brokerage
In Poland, both bank-affiliated brokerages (DM PKO, DM mBank, DM BOS) and independent platforms operate. Selection criteria:
- Transaction commission — typically 0.19–0.39% of transaction value when buying GPW shares, with a minimum of a few zloty. XTB and Freedom24 offer models with lower or zero commissions for small volumes.
- Spread — for CFDs or currency trading, this is the difference between the buy and sell price, which is the real transaction cost.
- Custody fee — some brokerages charge for holding foreign securities, usually about 0.02–0.1% of assets per year.
- Access to foreign markets — can you buy shares from the NYSE, NASDAQ, Xetra?
- Platform and mobile app — an intuitive interface matters for everyday convenience.
Popular brokerages in Poland (2026)
- DM PKO BP — reliable, affiliated with Poland's largest bank. A good choice if you want everything with one bank.
- DM mBank — the modern eMakler platform, access to foreign markets, brokerage IKE and IKZE accounts.
- DM BOS (Bank Ochrony Środowiska) — known for an extensive range of investment products and a brokerage IKE.
- XTB — a platform focused on CFDs, shares and ETFs, low commissions, commission-free share and ETF purchases up to 100,000 EUR per month.
- Freedom24 — access to European and US markets, multi-currency accounts.
How to open a brokerage account
- Choose a brokerage matching your needs (markets, fees, platform).
- Fill in an online application — most brokerages allow fully remote, online account opening.
- Identity verification — a 1 PLN verification transfer from your bank account or video-KYC (identity confirmation via video call).
- Fund the account — a transfer from your bank account to the brokerage account.
- First order — once logged into the platform, you can place a buy order.
Brokerage IKE — worth considering right away
When opening a brokerage account, it's worth considering a brokerage IKE (Individual Retirement Account) at the same time. It works like a regular brokerage account, but gains withdrawn after age 65 are exempt from the Belka tax (19%). The annual IKE contribution limit in 2026 is about 9,200 PLN. This is a significant tax benefit for long-term investors.
Also check: IKE calculator →
Frequently asked questions about brokerage accounts
How much does it cost to open a brokerage account?
Opening a brokerage account is usually free. Costs arise from transactions (commissions) and possibly from holding foreign securities (custody fees). Check the fee schedule before choosing a brokerage.
How much money do I need to start?
Most brokerages have no minimum deposit requirement to open an account. In practice, it's worth starting with a few hundred zloty to cover transaction costs and have a buffer. The minimum order value is usually set by the fee schedule (e.g. a minimum commission of 3–5 PLN).
Is a brokerage account safe?
Shares and bonds held in a brokerage account are recorded in the KDPW in the investor's name — separately from the brokerage's own assets. Even if the brokerage goes bankrupt, your securities are not lost. Free cash on the account is protected by the KDPW compensation scheme up to 22,000 EUR.
Can I have several brokerage accounts at once?
Yes. There is no legal limit on the number of brokerage accounts. Many investors use several brokerages — e.g. one for Polish shares, another for foreign ETFs. Exception: you can only have one IKE and one IKZE each.
How are profits from a brokerage account taxed?
Profits from selling shares and ETFs, as well as dividends, are taxed under the capital gains tax (19% Belka tax). The brokerage sends a PIT-8C, based on which you complete a PIT-38 by 30 April.
Can I buy treasury bonds through a brokerage account?
Retail Polish treasury bonds are bought through the obligacjeskarbowe.pl portal, not through a brokerage. However, corporate bonds and some bonds listed on Catalyst (the GPW's bond market) can be bought through a brokerage account.
What's a limit order and a market order?
A market order (PKC) is executed immediately at the current market price. A limit order is executed only at the specified price or better — it gives you control over the purchase price, but may not be filled.
Can I invest abroad through a brokerage account?
Yes, most brokerages offer access to foreign exchanges (NYSE, NASDAQ, Xetra). Check the fees for foreign transactions and custody — they are usually higher than for the GPW.
How long does it take to open a brokerage account?
With online verification (a verification transfer or video-KYC), an account can be opened within 1–3 business days. Some platforms activate the account the same day after successful verification.
Can I close a brokerage account at any time?
Yes. Simply sell all your securities and submit a request to close the account. Funds are transferred to the bank account you specify. Check whether the brokerage charges a closing fee.