Brokerage Account Comparison in Poland 2026 – XTB, mBank, Bossa, DM BOŚ

Choosing a brokerage account is one of the first decisions a beginner investor makes – and one of the most important. Commissions, available instruments, trading platforms, and extra features can significantly impact your investment returns over the long term.

In this article, we compare the four most popular brokers in Poland: XTB, mBank (eMakler), Bossa, and DM BOŚ.

Why Does Your Broker Choice Matter?

At first glance, the differences between brokers seem small – a commission of 0.19% here, 0.29% there. But over years, these "minor" differences add up to thousands of złoty.

Example: You invest 2,000 PLN monthly for 20 years. At a 0.39% commission, you lose approximately 18,700 PLN in fees alone. At 0.19%, roughly 9,100 PLN. The difference: nearly 10,000 PLN.

On top of that come fees for securities custody, currency conversion, dividend payouts, and other hidden costs.

Comparison Criteria

1. Transaction commissions – Polish stocks, international stocks, ETFs
2. Additional fees – account maintenance, custody, withdrawals
3. Available instruments – stocks, ETFs, bonds, futures, options
4. Trading platform – interface quality, analytical tools
5. IKE/IKZE – availability of tax-advantaged retirement accounts
6. Customer support and education

XTB (X-Trade Brokers)

XTB is the largest Polish broker, listed on the Warsaw Stock Exchange (GPW). In recent years it has aggressively expanded its offering, particularly in fractional shares and ETFs.

Commissions and Fees

• Polish stocks (GPW): 0% commission up to 100,000 EUR/month turnover, then 0.2% (min. 10 PLN)
• International stocks: 0% commission up to 100,000 EUR/month
• ETFs: 0% commission up to 100,000 EUR/month
• Account maintenance: 0 PLN (10 PLN/month if inactive for 365 days)
• Withdrawal: 0 PLN (above 100 PLN), below that – 20 PLN
• Currency conversion: approx. 0.5% spread

Available Instruments

• Stocks from 16 global exchanges (including GPW, NYSE, NASDAQ, LSE, XETRA)
• Over 350 ETFs
• CFDs on indices, commodities, currencies, cryptocurrencies
• Fractional shares (from 10 PLN)
• Investment plans (automated ETF portfolios)

Platform

• xStation 5 – proprietary web and mobile platform
• Intuitive interface, clean design
• Advanced charts and technical analysis tools
• Profit/loss calculator
• Built-in market news and analysis

IKE/IKZE

• Both IKE and IKZE available
• Same commission terms as on the standard account
• Ability to invest in Polish stocks, international stocks, and ETFs

Pros

• 0% commissions up to 100,000 EUR is an outstanding offer
• Fractional shares – you can buy a "piece" of Amazon for 50 PLN
• Investment plans – ready-made ETF portfolios with auto-rebalancing
• Modern, intuitive platform
• Extensive educational materials

Cons

• Limited bond offering
• No access to the NewConnect market
• Currency spread higher than dedicated exchange services
• Business model based on CFDs – risk that the stock offering is "subsidized" by CFD revenue

mBank (eMakler)

eMakler is a brokerage service integrated with a personal account at mBank. The convenience of using a single banking ecosystem is the main advantage.

Commissions and Fees

• Polish stocks (GPW): 0.29% (min. 19 PLN) standard; 0.12% via mobile app (min. 19 PLN)
• International stocks: 0.29% (min. 19 PLN)
• Polish ETFs: 0.29% (min. 19 PLN)
• International ETFs: 0.29% (min. 19 PLN)
• Account maintenance: 0 PLN
• Withdrawal: 0 PLN (transfer to mBank account)
• Currency conversion: approx. 0.5-1% spread

Available Instruments

• GPW stocks (main market and NewConnect)
• International stocks (NYSE, NASDAQ, XETRA, LSE, and others)
• Polish and international ETFs
• Government and corporate bonds
• Futures and options on GPW
• Mutual funds (fund supermarket)

Platform

• Integrated with mBank online banking
• eMakler mobile app
• Access to technical analysis tools
• Real-time quotes (paid – approx. 50 PLN/quarter for GPW)

IKE/IKZE

• IKE available (managed by mBank)
• Wide range of instruments on IKE
• No IKZE in the eMakler offering

Pros

• Integration with mBank banking – convenient transfers
• Wide instrument selection (including NewConnect and bonds)
• Mutual fund supermarket
• Solid web platform

Cons

• Higher commissions than XTB
• 19 PLN minimum commission – unprofitable for small transactions
• Real-time quotes are paid
• Less modern interface than xStation

Bossa (BNP Paribas Brokerage)

Bossa is the brokerage brand belonging to BNP Paribas Bank Polska. It stands out with a broad offering and a solid trading platform.

Commissions and Fees

• Polish stocks (GPW): 0.29% (min. 5 PLN) online; 0.39% (min. 19 PLN) by phone
• International stocks: from 0.29% (min. 19 PLN or equivalent in local currency)
• ETFs: 0.29% (min. 5 PLN for Polish)
• Account maintenance: 0 PLN
• Withdrawal: 0 PLN
• GPW real-time quotes: free (basic package)

Available Instruments

• GPW stocks (main market, NewConnect, Catalyst)
• International stocks (USA, Europe, Asia)
• Polish and international ETFs
• Bonds (government and corporate on Catalyst)
• Futures and options
• Forex
• Structured certificates

Platform

• bossaWebTrader – web platform
• bossaMobile – mobile app
• bossaAPI – API for algorithmic traders
• MetaTrader 4/5 integration

IKE/IKZE

• Both IKE and IKZE available
• Wide range of instruments
• Attractive commission terms on IKE/IKZE

Pros

• 5 PLN minimum commission (lowest among traditional brokers)
• Free GPW real-time quotes
• Broad instrument offering (Catalyst, NewConnect)
• API for advanced traders
• IKE and IKZE available

Cons

• Platform less intuitive than xStation
• Mobile app could be more modern
• No fractional shares
• Lower brand recognition

DM BOŚ (Bank Ochrony Środowiska Brokerage)

DM BOŚ is a broker with a long tradition, particularly valued by active traders and investors interested in the bond market.

Commissions and Fees

• Polish stocks (GPW): 0.2% (min. 5 PLN) online
• International stocks: from 0.29% (min. 15 USD / 14 EUR / 9 GBP)
• ETFs: 0.2% (min. 5 PLN for Polish)
• Account maintenance: 0 PLN
• Withdrawal: 0 PLN
• GPW real-time quotes: free (basic package)

Available Instruments

• GPW stocks (main market, NewConnect, Catalyst)
• International stocks (over 20 markets)
• ETFs
• Bonds – one of the broadest offerings in Poland
• Futures and options

Platform

• BOŚ trading system – web platform
• Mobile app
• Technical and fundamental analysis tools
• Real-time quotes

IKE/IKZE

• Both IKE and IKZE available
• Full GPW instrument offering
• Same commissions on IKE/IKZE as on standard accounts

Pros

• Lowest GPW commissions among traditional brokers (0.2%)
• Free real-time quotes
• Excellent bond offering (Catalyst)
• Experienced broker with long history
• Full IKE and IKZE offering

Cons

• Trading platform looks somewhat dated
• Less known among beginner investors
• No fractional shares
• Higher minimums on international stocks

Comparison Table

Which Broker Should You Choose?

For Beginners: XTB

Zero commissions, fractional shares (you can start with 10 PLN), an intuitive platform, and a rich educational library. XTB is the best choice for getting started. Investment plans let you automatically build an ETF portfolio without needing to understand asset allocation.

For Retirement Savings (IKE/IKZE): XTB or Bossa

If IKE/IKZE is your priority, XTB offers zero commissions on ETFs (ideal for building a retirement portfolio), while Bossa provides access to bonds on Catalyst – an excellent portfolio complement.

For Active Traders: DM BOŚ or Bossa

Low commissions, free real-time quotes, and access to futures contracts. DM BOŚ offers the lowest GPW commission (0.2%), and Bossa adds an API for algorithmic trading.

For Bond Investors: DM BOŚ or Bossa

If you're interested in corporate bonds (Catalyst market), XTB is out – it doesn't offer this market. DM BOŚ and Bossa have the broadest selection.

For mBank Customers: eMakler

If you already have an mBank account and value the convenience of a single ecosystem, eMakler is a reasonable choice. Keep in mind the higher commissions, though.

A Few Practical Tips

Open More Than One Account

Nothing stops you from having accounts with multiple brokers. For example, XTB for regular ETF investing (0% commissions) and DM BOŚ for bonds on Catalyst.

Check Total Cost, Not Just Commission

Commission isn't everything. Factor in currency spread on international stocks, quote fees, dividend currency conversion costs, and inactivity fees.

Use IKE/IKZE

The tax advantages of IKE (no capital gains tax on withdrawal after age 60) and IKZE (contributions deductible from taxable income) are too significant to ignore.

Monitor Your Portfolio in One Place

If you have accounts with multiple brokers, it's worth using a tool that aggregates data in one place – for example, Freenance lets you track your investment portfolio alongside everyday finances.

Summary

There is no perfect broker for everyone. XTB dominates on cost and convenience for beginners, but traditional brokers (Bossa, DM BOŚ) offer broader market access and instruments unavailable at XTB.

The key takeaway: don't let the broker choice become an excuse to postpone investing. Every broker described here is solid. The most important thing is to start – you can optimize later.