User Reviews

Regulation Analysis

mBank operates under a Polish banking license issued by the Polish Financial Supervision Authority (KNF) but importantly is not specifically regulated as a forex or CFD broker. This means while the institution meets banking regulatory requirements, it lacks the specialized oversight typically associated with forex trading services. The bank follows European banking regulations and maintains compliance with EU banking directives, including requirements for capital adequacy and client fund segregation. However, traders should be aware that these protections are designed for banking services rather than trading activities. Client funds benefit from standard Polish bank deposit guarantee protection up to €100,000 under the Bank Guarantee Fund (BFG), but this applies to bank deposits rather than trading accounts. The bank must comply with MiFID II regulations when providing investment services, though their offering is limited compared to dedicated trading platforms. mBank has maintained a clean regulatory record as a banking institution but operates in a different regulatory category than specialized forex brokers with specific trading-focused licenses from authorities like the FCA, ASIC, or CySEC.

Trading Products

• Stock Trading: Access to Polish stock market (WSE) with selected stocks from major European exchanges
• Bond Trading: Government and corporate bonds primarily focused on Polish market
• Currency Exchange: Basic currency conversion services for major currency pairs
• Investment Funds: Range of mutual funds and investment products
• Limited Forex Trading: Basic currency exchange services rather than full forex trading platform
• No CFD Trading: Does not offer contracts for difference trading
• No Cryptocurrency Trading: No digital asset trading services available
• Trading Hours: Aligned with Warsaw Stock Exchange (WSE) trading hours for stocks, 24/5 for basic currency exchange

Trading Platforms

mBank provides a basic proprietary trading platform integrated with their online banking system. The platform offers fundamental features for stock and bond trading but lacks advanced trading capabilities found in specialized platforms like MetaTrader 4 or 5. Key features include: basic charting tools, market order execution, portfolio monitoring, and integration with banking services. Mobile access is available through mBank’s banking app, supporting basic trading functions and account monitoring. The platform is primarily designed for occasional traders and banking customers rather than active traders requiring sophisticated analysis tools or automated trading capabilities. Platform stability is generally good, though focused more on reliability than speed of execution. No VPS hosting or advanced API access is available. The web-based platform is compatible with major browsers and provides basic market information and account management tools.

Deposit and Withdrawal

mBank offers standard banking deposit and withdrawal methods rather than specialized trading account funding options. Available methods include: bank transfers (domestic and international), credit/debit cards (Visa, Mastercard), and mobile payments through BLIK (Polish payment system). Deposits are typically processed instantly for existing bank customers using internal transfers. External transfers may take 1-2 business days. No specific minimum deposit requirement for basic trading access, though individual investment products may have minimums. Withdrawal processing follows standard banking procedures with domestic transfers completed within 1 business day and international transfers taking 2-5 business days. Fees vary by transaction type and customer account level, with some premium account holders receiving reduced or waived fees. Standard banking KYC verification required including government ID and proof of address. Primary account currencies are PLN, EUR, and USD with currency conversion fees applying to non-PLN transactions.

Customer Support

Customer support at mBank is provided through multiple channels including branch locations across Poland, telephone banking (+48 42 6300800), email support, and online banking chat. Support hours vary by channel with 24/7 availability for urgent banking matters but limited hours for trading-related support. Service is provided primarily in Polish with limited English support available. Response times can vary significantly, with phone support typically offering fastest response but potentially long wait times during peak hours. Branch support provides comprehensive service but requires in-person visits. Online chat support is available during business hours but primarily focused on banking rather than trading queries. Self-service resources include online banking guides, basic investment tutorials, and FAQ sections, though trading-specific educational content is limited.

FAQ

Q: Is mBank suitable for active forex and CFD trading?
A: mBank is primarily a retail bank and not specifically licensed as a forex/CFD broker. While they offer basic currency exchange services and stock trading, their platform lacks the advanced features, competitive spreads, and comprehensive trading tools that active traders typically require. Serious traders would likely be better served by a dedicated forex/CFD broker with appropriate regulatory licenses.

Q: What trading products are available through mBank?
A: mBank offers basic stock trading on the Warsaw Stock Exchange, selected European stocks, government and corporate bonds, and currency exchange services. They do not provide CFD trading, cryptocurrency trading, or advanced forex trading capabilities. Their focus is on traditional banking products with basic investment services for retail customers.

Q: How does mBank protect client funds?
A: Client funds at mBank are protected under Polish banking regulations and the Bank Guarantee Fund (BFG) which provides protection up to €100,000 for bank deposits. However, this is different from the specific protections offered by dedicated forex brokers regulated by authorities like FCA or CySEC. The bank maintains standard banking security measures and segregated client accounts.

Q: What are the fees and commissions for trading with mBank?
A: mBank’s fee structure is based on traditional banking services rather than competitive trading fees. Stock trading commissions typically range from 0.19% to 0.39% depending on transaction value, with minimum fees applying. Currency exchange rates include the bank’s spread, which may be higher than specialized forex brokers. Additional fees may apply for international transfers and certain account services.