eMakler is an investment service inside mBank rather than an independent forex brokerage. It allows eligible Polish bank-account holders to buy Polish and selected US/European listed shares, ETFs and bonds. The official eMakler product passage sets separate domestic and foreign transaction rates, while its FAQ explains a potentially overlooked PLN 50 annual account fee when a customer does not consent to electronic communications. KNF independently lists Biuro Maklerskie mBank under mBank S.A., providing a stronger entity check than the website alone.[1][2]
Accounts and eligibility
Sections ↑Account comparison01
Polish customer onboarding and bank dependency
| Item | Terms and scope |
|---|---|
| Ordinary brokerage | eMakler investment service connects to existing mBank personal payment accountSource 1Source 2 |
| Adult Polish citizen | Product FAQ specifies citizenship, PESEL and national identity cardSource 1Source 2 |
| mBank payment account | Existing eKonto/mKonto or other qualifying bank account is prerequisiteSource 1Source 2 |
| Online enrolment | Application through mBank electronic banking/product investmentsSource 1 |
| MiFID questionnaire | Risk/suitability questionnaire before activating investment serviceSource 1 |
Account comparison02
Account maintenance and choice of document delivery
| Item | Terms and scope |
|---|---|
| Opening balance | No minimum amount to activate brokerage disclosedSource 1 |
| Account opening | PLN 0 opening feeSource 1 |
| Maintenance with e-correspondence | PLN 0 if customer agrees to digital correspondenceSource 1Source 2 |
| Maintenance without consent | PLN 50 annual fee described by official FAQSource 2 |
| Bank account relationship | Bank account’s own contract may have fees unrelated to eMaklerSource 1Source 4 |
Account comparison03
Ordinary eMakler and retirement accounts
| Item | Terms and scope |
|---|---|
| Ordinary brokerage | Standard taxable service linked to the bank accountSource 1Source 5 |
| IKE / IKZE | Separate retirement agreements and statutory contribution/withdrawal rulesSource 1Source 5 |
| ETF commission distinction | The retirement-account concession must not be applied to all ordinary eMakler ETF tradesSource 1Source 5 |
Products and market access
Sections ↑At a glance04
Exchange access and actual security type
| Item | Terms and scope |
|---|---|
| Polish shares | WSE/GPW ordinary listed stocksSource 1 |
| Polish ETFs | ETFs on Warsaw exchangeSource 1 |
| US equities | Selected stock venues in New YorkSource 1 |
| London stock access | Selected London shares/ETFsSource 1 |
| Frankfurt-listed products | Equities and ETFs on German exchangeSource 1 |
At a glance05
Ancillary listed securities and programmes
| Item | Terms and scope |
|---|---|
| Domestic/eligible bonds | Listed bonds included in mBank eMakler menuSource 1 |
| IPO offers | Service says participation in selected public listingsSource 1 |
| Model starter ETFs | Three different risk starter ETF portfolios illustrated in onboardingSource 1 |
| Retirement wrappers | mBank separately refers to eMakler IKE/IKZE accounts/documentsSource 1 |
Costs and charges
Sections ↑Pricing & charges06
Brokerage tariffs and minimum commission units
| Item | Terms and scope |
|---|---|
| Domestic shares | 0.39% of order value; PLN 5 minimumSource 1 |
| Domestic ETFs | 0.39%; PLN 5 minimumSource 1 |
| Foreign shares | 0.29%; PLN 14 minimumSource 1 |
| Foreign ETFs | 0.29%; PLN 14 minimumSource 1 |
| Opening brokerage | PLN 0Source 1 |
| Annual account with e-communications | PLN 0 under electronic notice consentSource 2 |
| Annual without e-communications | PLN 50Source 2 |
Pricing & charges07
Order-size worked comparisons from published prices
| Item | Terms and scope |
|---|---|
| PLN 500 GPW buy | 0.39% x 500 = PLN 1.95, so PLN 5 minimum appliesSource 1 |
| PLN 10,000 GPW buy | 0.39% x 10,000 = PLN 39Source 1 |
| PLN 1,000 foreign buy | 0.29% x 1,000 = PLN 2.90, so PLN 14 minimum appliesSource 1 |
| PLN 20,000 foreign buy | 0.29% x 20,000 = PLN 58Source 1 |
| PLN 1,000 GPW round trip | Two PLN 5 minimum commissions = PLN 10 before other costsSource 1 |
Pricing & charges08
How eMakler calculates orders
| Item | Terms and scope |
|---|---|
| Commission order basis | Percentage on order executions, subject to published minimumSource 2 |
| Partial execution | FAQ says several fills of same order treated as one brokerage commissionSource 2 |
| Limit instruction | Commission calculation includes ordered quantity and limit priceSource 2 |
| PKC/PCR unpriced order | FAQ describes special upper/lower price limit for estimateSource 2 |
Pricing & charges09
Selected retirement ETF pricing changed in March 2026
| Item | Terms and scope |
|---|---|
| Effective date | 1 March 2026: the bank announced permanent zero commissions for selected ETF purchases and sales in IKE/IKZESource 5Source 9Source 6 |
| Covered categories in announcement | Selected equity, bond and gold/silver products on eligible Polish and European venuesSource 5Source 9Source 6 |
| Excluded instruments | An instrument-specific exclusion list determines which ETFs retain standard commissionSource 5Source 9Source 6 |
| Older promotion pages | References to a promotion ending 28 February 2026 do not describe the later permanent tariffSource 5Source 9Source 6 |
Pricing & charges10
When percentage commission overtakes the minimum
| Item | Terms and scope |
|---|---|
| Domestic 0.39%, PLN 5 floor | Approximately PLN 1,282.05 order valueSource 1 |
| Foreign 0.29%, PLN 14 floor | Approximately PLN 4,827.59 order valueSource 1 |
| Calculation scope | Minimum divided by percentage; excludes currency conversion and other applicable chargesSource 1 |
A domestic PLN 500 order reaches the PLN 5 minimum, so its brokerage cost is 1% before other charges. Foreign orders have a PLN 14 floor. The retirement ETF concession is a separate product-specific policy; it does not make every foreign ETF trade commission-free.[1][5]
Pricing & charges11
Published domestic day-trading rebate
| Item | Terms and scope |
|---|---|
| Eligible effective rate | 0.25% of the applicable buy or sell valueSource 2 |
| Standard rate comparison | 0.39% less a 0.14 percentage-point rebateSource 2 |
| Monthly qualifying turnover | PLN 25,000 in settled day-trading transactionsSource 2 |
| Turnover measurement | The smaller matched buy/sell value is used; no blanket discount for every tradeSource 2 |
Platforms, orders and execution
Sections ↑At a glance12
Bank-native platform operation
| Item | Terms and scope |
|---|---|
| Web eMakler | Accessible in mBank internet banking Investments menuSource 1 |
| mBank Giełda mobile | Portfolio and market access via dedicated mobile appSource 1 |
| Activation | Service appears in Products > Investments after processingSource 1 |
| Real-time GPW account figures | Official FAQ describes live-update Polish valuation figuresSource 2 |
| Foreign valuation | Foreign instrument portfolio numbers use last-session close per FAQSource 2 |
At a glance13
Local order lifecycle and records
| Item | Terms and scope |
|---|---|
| GPW limit order | Commission estimate based on instruction price and quantitySource 2 |
| Partial match | Multiple transactions within one order can share commission calculationSource 2 |
| Market-price order | PKC/PCR official FAQ specifies special estimate processSource 2 |
| IPO application | Distinct public-offer allocation procedureSource 1 |
Funding, settlement and transfers
Sections ↑At a glance14
Bank-to-broker cash and custody instructions
| Item | Terms and scope |
|---|---|
| Linked account | Brokerage tied to mBank payment accountSource 1 |
| Zero opening balance | No initial deposit mandated at activationSource 1 |
| Incoming securities transfer | Instructions go to current outside broker with eMakler 8-digit account number starting 9Source 1 |
| Foreign share currency | Securities trade in home exchange currency; conversion follows actual dealing termsSource 1 |
| IPO fund reservation | Allocation and funding according to offer termsSource 1 |
At a glance15
Closing, communications and cost pitfalls
| Item | Terms and scope |
|---|---|
| Digital notice consent | Opt-in affects PLN 0 annual maintenanceSource 2 |
| Holding share | Transfer out to another broker needs precise custody account informationSource 1 |
| Tax information | eMakler site lists PIT-8C tax information documentationSource 1 |
Regulation and client assets
Sections ↑Entities & regulation16
Independently established Polish broker identity
| Item | Terms and scope |
|---|---|
| Firm | mBank S.A. Biuro Maklerskie mBankSource 3 |
| KNF entry | Polish regulator register of banks conducting brokerage lists firmSource 3 |
| Initial permission date | KNF table shows 30 June 2005Source 3 |
| Registered base | KNF address ul. Prosta 18, 00-850 WarszawaSource 3 |
| Instrument risk | Exchange-traded securities can lose their market valueSource 3Source 1 |
Support and account records
Sections ↑At a glance17
Account documents and service routes
| Item | Terms and scope |
|---|---|
| Trading service FAQ | Published explanations cover cost formula and operational viewsSource 2 |
| Web settings | Email-document correspondence preferences maintained onlineSource 2 |
| PIT-8C | Tax information policy included in downloadable account docsSource 1 |
| Transfer-out instructions | Current brokerage account ID appears within online interfaceSource 1 |
| KNF contact | Regulator publishes Warsaw brokerage desk address and phoneSource 3 |
At a glance18
Obtaining tax documents
| Item | Terms and scope |
|---|---|
| Electronic PIT-8C | Opt in; the policy says delivery in the second half of February for the preceding tax yearSource 8Source 7 |
| Where to find it | Online banking tax-document route or eMakler Settings and documentsSource 8Source 7 |
| Paper PIT-8C | Registered post to the recorded correspondence address, by the end of FebruarySource 8Source 7 |
| Separate dividend statement | Foreign dividend statements can be requested from [email protected] using the eight-digit investment account numberSource 8Source 7 |
At a glance19
PIT-8C correction and document fees
| Item | Terms and scope |
|---|---|
| Duplicate | The FAQ lists PLN 80; electronic access through the tax authority may also be availableSource 7 |
| Transaction breakdown | PLN 80, refundable if a documented discrepancy is establishedSource 7 |
| Personal-data discrepancy | Correct the account data and contact mLiniaSource 7 |
| Multiple brokerage accounts | The bank says it calculates each account separately and consolidates the results in one PIT-8CSource 7 |
At a glance20
Dividend-statement delivery and privacy
| Item | Terms and scope |
|---|---|
| Request | [email protected] with the eight-digit investment-account numberSource 7 |
| Delivery | Encrypted documentSource 7 |
| Password | Sent in a separate messageSource 7 |
| Scope | Statement supports the investor’s own tax reportingSource 7 |
At a glance21
Brokerage contact and branch location
| Item | Terms and scope |
|---|---|
| [email protected]; eMakler clients can also use [email protected]Source 10Source 3 | |
| Email limitation | The accessibility contact page says orders and private product enquiries cannot be handled by ordinary emailSource 10Source 3 |
| Appointment | +48 22 697 49 49Source 10Source 3 |
| Service point | ul. Prosta 20, Warsaw on the contact page; the KNF register separately lists Prosta 18Source 10Source 3 |
Research and additional services
Sections ↑At a glance22
Brokerage information and starter assistance
| Item | Terms and scope |
|---|---|
| Three starter ETF portfolios | App introduces three investment risk ranges for newcomersSource 1 |
| Market and position screen | Real-time GPW and prior-session foreign valuation distinctionSource 2 |
| IPO subscriptions | Primary issue participation for selected offersSource 1 |
| Securities transfers | Supports moving eligible securities into eMakler from other brokerSource 1 |
At a glance23
Tax statement scope
| Item | Terms and scope |
|---|---|
| Trading result | PIT-8C includes relevant settled sales, acquisition costs and dealing commissionsSource 7 |
| Excluded costs | The bank says loan costs and continuous-quote subscription fees are not included in its PIT-8C cost calculationSource 7 |
| Investor filing | PIT-8C is information for the investor’s return, not a completed tax settlementSource 7 |
Company and legal entities
Sections ↑At a glance24
mBank group versus specific brokerage desk
| Item | Terms and scope |
|---|---|
| Legal bank | mBank S.A.Source 3 |
| Investment unit | Biuro Maklerskie mBankSource 3 |
| Licence history | 30 June 2005 date in KNF brokerage-bank listingSource 3 |
| Regulated scope | KNF lists authorised activity numbers for the investment deskSource 3 |
| Polish domicile | Warsaw office on KNF registerSource 3 |
- Headquarters
- Poland
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
mBank S.A. / Biuro Maklerskie mBank
PolandSource 1
No separate licence entry is recorded in this panel.
Important account distinctions
Sections ↑At a glance25
Current document hierarchy
| Item | Terms and scope |
|---|---|
| Ordinary eMakler headline | Product page supplies the domestic and overseas percentage/minimum pairsSource 1Source 9Source 5 |
| Tariff index | Lists a tariff effective 20 March 2026Source 1Source 9Source 5 |
| Retirement ETF policy | February 2026 announcement supersedes the earlier promotional end dateSource 1Source 9Source 5 |
| Account agreement | Determines the service, wrapper and communication choices actually acceptedSource 1Source 9Source 5 |
At a glance26
ETF-policy dates and instrument lists
| Item | Terms and scope |
|---|---|
| February 2026 announcement | More than 450 eligible ETFs when the permanent policy was announcedSource 5Source 6 |
| Foreign-market FAQ | Now describes more than 550 selected retirement-account ETFsSource 5Source 6 |
| Eligibility test | Use the actual exclusion list for the instrumentSource 5Source 6 |
| Older landing pages | A February 2026 promotion expiry does not supersede the later permanent policySource 5Source 6 |
Sources & further reading
- mBank eMakler official product page and published commission summary mBank · Accessed 27 Oct 2026
- mBank official eMakler FAQs and order mechanics mBank · Accessed 27 Oct 2026
- Polish KNF bank-run investment-firm register KNF · Accessed 27 Oct 2026
- mBank current bank fee-document index and effective dates mBank · Accessed 27 Oct 2026
- mBank makes selected IKE/IKZE ETF commissions permanently zero from 1 March 2026 mBank · Accessed 27 Oct 2026
- mBank foreign-market order, currency and ETF FAQ mBank · Accessed 27 Oct 2026
- mBank tax documents and corrections FAQ mBank · Accessed 27 Oct 2026
- mBank electronic and paper PIT-8C delivery policy mBank · Accessed 27 Oct 2026
- mBank current eMakler document and tariff index mBank · Accessed 27 Oct 2026
- mBank brokerage contact and accessible service arrangements mBank · Accessed 27 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.