PFOC Clients Lose a Combined $151 Million in 2018
On Thursday, April 11th 2019, it was revealed by the Polish Financial Oversight Commission that the activity of retail trades in Poland had dropped dramatically in 2018. This marks the first time that the financial regulator has released informative data regarding the retail finances for the country in over a year. However, the report released doesn’t go into detail and only provides some hints as to the plaguing issues for PFOC.
This oversight commission revealed that there had been a 79% drop in revenue for retail traders across Poland, with this number falling in line with most other Eastern-European countries. However, this decrease is small when put to comparison with decreased profits for 2017, which was 79.8%. In total, $151 Million was lost in revenue for the Poland Retail Market Space.
44 Thousand Retail Trading Accounts – Combined $151 Million in Lost Revenue
The PFOC revealed that with the continued battle against online shopping, there has also been a slight decline in retail trading accounts for 2018, with there being only a total of 44 thousand active accounts. This is a 17.5% decline to 2017, which indicates that the retail trading space for Poland is starting to drop dramatically.
It’s estimated that the Polish Financial Oversight Commission themselves have lost millions in profit due to the decline in clients. This is the result of a declining market and the result of more than 35 thousand traders losing money in 2018. It’s estimated that the market won’t surge until Christmas season this year and then will have another dramatic decline.
Polish Financial Analysts applaud the PROF to begin steps to create a reliable and regulated exchange for the cryptocurrency space if they are going to save their clients from future losses.