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Stats › Active, passive and flows › Did the rules stick

Polish retail derivative traders had their best year in 2019 and three years later they were back where they started

2016: 79.3%+79.3%20162017: 79.7%+79.7%20172018: 78.9%+78.9%20182019: 73.5%+73.5%20192020: 77.7%+77.7%20202021: 71.9%+71.9%20212022: 79.1%+79.1%2022

Share of clients of Polish brokerage houses with a net loss on over the counter derivatives, from data submitted by supervised entities to the Polish Financial Supervision Authority. Clients with neither a profit nor a loss are excluded. The ESMA leverage caps took effect on 1 August 2018, so 2019 is the first full year under them.

Poland publishes the longest before and after series of retail outcomes in Europe. The share of clients losing money fell from 79.7 per cent in 2017 to 73.5 per cent in 2019, then returned to 79.1 per cent in 2022 as client numbers more than tripled.

79.7%Share of clients losing money, 2017
73.5%The same share in 2019, the first full year after the caps
79.1%The same share in 2022
43,799 then 142,182Active clients, 2019 then 2022

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