EXANTE started a new promotion related to Polish stocks and ETFs. You can now trade with 0% commission on the Warsaw Stock Exchange (Giełda Papierów Wartościowych, GPW) until the end of this year. You are not limited to trading turnover like on XTB, where commission does apply after the 100 000 EUR threshold.
Long-term change in commission
This is a limited-time offer. However, starting in January 2025 the commission on WSE with this broker will be 0.09%. There will be no minimum commission. This is a massive change because so far, EXANTE was charging 0.4% commission. In other words, new terms will offer nearly 5 times cheaper trading on Warsaw Stock Exchange. The only competitive broker would remain XTB. If your monthly transaction volume does surpass 100 000 EUR, then the XTB commission is 0.2% per each transaction above this limit (minimum 10 EUR). So, at which point is EXANTE better for trading on WSE?
Detailed analysis
Note that we are referring to EUR in the table below because it is used in terms of XTB. However, trading on the Warsaw Stock Exchange happens in PLN (Polish Złoty). The currency exchange rate is taken into account when calculating equivalent values in EUR.
| Transactions values in a given month | Broker | ||
| EXANTE | XTB | ||
| Until 31.12.2024 | Starting in 2025 | ||
| 1 000 EUR | 0 EUR | 0.9 EUR | 0 EUR |
| 10 000 EUR | 0 EUR | 9 EUR | 0 EUR |
| 50 000 EUR | 0 EUR | 45 EUR | 0 EUR |
| 50 000 EUR + 50 000 EUR = 100 000 EUR | 0 EUR | 45 EUR + 45 EUR = 90 EUR | 0 EUR |
| 50 000 EUR + 50 000 EUR + 1 EUR = 100 001 EUR | 0 EUR | 45 EUR + 45 EUR + 0.01 EUR = 90.01 EUR | 0 EUR + 0 EUR + 10 EUR = 10 EUR |
| 50 000 EUR + 50 000 EUR + 50 000 EUR + 1 EUR = 150 001 EUR | 0 EUR | 45 EUR + 45 EUR + 45 EUR + 0.01 EUR = 135.01 EUR | 0 EUR + 0 EUR + 100 EUR + 10 EUR = 110 EUR |
| 50 000 EUR + 50 000 EUR + 50 000 EUR + 50 000 EUR = 200 000 EUR | 0 EUR | 45 EUR + 45 EUR + 45 EUR + 45 EUR = 180 EUR | 0 EUR + 0 EUR + 100 EUR + 100 EUR = 200 EUR |
| 181 818.19 EUR | 0 EUR | 163.64 EUR | 163.64 EUR |
Based on the above table, when you expect your total transaction value to surpass 100 000 EUR per month, then XTB becomes significantly more expensive than EXANTE because of the minimum commission per transaction. Moreover, when monthly turnover surpasses 181 818.19 EUR, then XTB becomes more expensive – no matter how many transactions are made (even after the promotion period of 0% commission on EXANTE for WSE).
You can trade with 0% commission on the Warsaw Stock Exchange!
Even if you are unsure how much you will trade and which broker to choose, fear not! We have a solution for this. So we will ask the question: ‘Why not both?’ If you want to ensure the lowest commissions, you may trade without any limits with EXANTE until the end of December. Starting next year, it is more affordable to focus initial trading during the month with XTB. When getting close to the level where commissions are becoming equal between these two brokers (181 818.19 EUR of monthly turnover), then you focus again on EXANTE.
Both brokers offer access to many more markets. However, EXANTE gives access to both American and Canadian ETFs for European residents.