Lynx Opens Warsaw Office With Fewer Clients Than XTB Adds in Six Weeks

Dutch broker Lynx said on Thursday that it has opened an office in Warsaw, making Poland the fifth country where the Amsterdam-based firm runs a local team. Lynx, founded in 2006 and supervised by the Dutch Authority for the Financial Markets (AFM) and De Nederlandsche Bank (DNB), says it serves more than 72,000 active investors across Europe. Its Polish operations have existed since 2017, according to its careers page, and the company now lists a Polish branch of Lynx B.V. in central Warsaw.

The scale of that client base is modest next to the local market leader. XTB ended August with 1,235,335 accounts, a gain of 53,621 in a single month, meaning Lynx's entire European active-investor figure is smaller than the accounts XTB adds in roughly six weeks at that pace. XTB's accounts represent more than 40% of the 3,029,784 registered with Poland's Central Securities Depository (KDPW), a broader measure that counts funded and unfunded accounts alike. Poland generated 54.4% of XTB's revenue in 2025.

Competitors Take Different Routes

Lynx operates as an introducing broker for the Irish unit of Interactive Brokers, which executes orders and holds client assets. Interactive Brokers reported client equity of $962.8 billion in August. Lynx clients reach more than 100 exchanges through Lynx's own app or Interactive Brokers' Trader Workstation, with Polish-language support, and the firm will issue the PIT-8C annual capital gains statement. "We grow gradually, country by country, not everywhere at once," CEO Ellen van Ginkel said, pointing to active Polish brokerage accounts that she said have more than tripled since 2019. The product list includes options and futures.

Trade Nation launched zloty accounts the same day, operating under its Portuguese Securities Market Commission (CMVM) licence passported into Poland and offering fixed-spread CFDs. New markets include the Poland 20 index and shares of Allegro, CD Projekt, Orlen and Żabka. The London-based firm acquired FXCM's UK client book earlier this month. "Poland has one of the most active and sophisticated trading communities in Europe," Chief Executive Jon Noble said. Trade Republic entered Poland in September 2025 with a flat 4-zloty trading fee and a savings account paying the central bank rate, later raising its rate on Polish cash balances to 6%.

CFDs remain central to XTB's results, generating about 96% of its result from financial instruments in the first half of 2026. Poland's KNF counted 369,737 active OTC derivatives clients at domestic brokerages in 2025, up 50% year on year. Comparic.pl editor-in-chief Arkadiusz Jóźwiak noted that Poles hold more than 1 trillion zlotys in low-interest current accounts plus about 420 billion zlotys in term deposits: "There is a lot to fight for."