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No changes on Forex. Most Poles lose. On average, almost 10 thousand PLN in 2023
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No changes on Forex. Most Poles lose. On average, almost 10 thousand PLN in 2023

created Michał SielskiApril 4 2024

Report of the Office of the Polish Financial Supervision Authority (UKNF) for 2023 leaves no doubt. 3 out of 4 Polish traders are still losing money on the Forex market. This is a sad average that has been going on for years. However, the numbers are ambiguous: the absolute number of traders who lose is increasing, but the number of people who made money is also increasing.

We regularly write about the successes of traders from around the world. Forex Club readers can read about interviews with traders of the month, who (sometimes) share their secrets to successful trading. However, most individual investors lose to the Forex market - this is clear from the data he has just published in a special report Office of the Polish Financial Supervision Authority (Polish Financial Supervision Authority).

More people are making money in the Forex market

Clients of brokerage houses and offices playing on the Forex market constitute 99,8% of all market participants, but are responsible for 87,1% of the nominal value of transactions - these are data from 2023, presented in the report of the Polish Financial Supervision Authority.

73% of these people lose money on the Forex market. Compared to 2022, however, progress is visible, although small. In the previous report, as many as 79% of individual traders recorded losses. This may be due to more cautious investments, as both the average profit and loss have decreased.

The total realized profit amounted to PLN 349 (against PLN 222 in 968), and the total realized loss amounted to PLN 519 (against PLN 476 in 766).

One more variable may also be important. The number of customers who made a profit increased to 2023 in 46 from 829 in 29, but the average profit decreased to PLN 780, compared to PLN 2022 in 7.

More and more people are losing money on the Forex market

However, the number of active traders who have suffered losses is growing. In 2023, there were 128 of them compared to 252 in 112, but the average loss per trader decreased to PLN 402 from PLN 2022 in 13.

However, the absolute numbers are disturbing. And these directly show that the number of people who lose on the Forex market increases from year to year. In 2019, there were 32, in 194 2020, in 62 334, in 2021 80, and in 488 as many as 2022. If this trend is maintained, and there is no indication that suddenly it was supposed to be different, this year another milestone may be reached and the number of clients who will lose on the Forex market will increase above 112. people.

On average, each client of brokerage houses and offices incurred a loss on Forex of PLN 8074. It is worth remembering that a year earlier it was higher, because in 2022 it amounted to PLN 10.

A trader from Poland lost an average of PLN 2023 on Forex in 9656

Interestingly, when only Polish clients of brokerage offices and houses were examined, it turns out that we do slightly better. Therefore, it is clear that clients of the largest agencies, caught abroad, lower our averages.

Despite this, there is no reason for hurray optimism. Among customers who are Polish residents on Forex market, the percentage of those who made a profit in 2023 was 27,5%. This is an increase from 21,7% in 2022. Inevitably, the percentage of those who recorded losses also decreased - from 78,3% in 2022 to 72,5% last year.

However, the average profit per Polish trader was much lower. In 2023, it amounted to only PLN 10, while 950 months earlier it was PLN 12. At the same time, however, the average loss also decreased. In 21, it reached PLN 607 per customer, compared to PLN 2023 per person in 17. Therefore, it is easy to calculate that a Polish trader lost an average of PLN 456 in 20 and theoretically we can talk about progress, because in 197 it was an average loss of PLN 2022 per head.

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About the Author
Michał Sielski
Professional journalist for over 20 years. He worked, among others, in Gazeta Wyborcza, recently associated with the largest regional portal - Trojmiasto.pl. He has been present on the financial market for 18 years, he started on the Warsaw Stock Exchange when the shares of PKN Orlen and TP SA were just being introduced to the market. Recently, his investment focus has been exclusively on the Forex market. Privately, he is a parachutist, a lover of Polish mountains and a Polish karate champion.