Are you eligible for FOREX Pro?
You might qualify to trade as a professional client if you meet two of the three criteria below:
- Have you made an average of 10 significantly sized transactions per quarter over the last four quarters?
- Do you currently have a financial portfolio, including cash deposits exceeding $500,000?
- Have you worked in a professional capacity in the financial sector that has required knowledge of trading leveraged products for at least 1+ year(s)?
Professional Trader requirements – in detail
In order to qualify to become a Professional Client, you will need to meet at least 2 out of the 3 eligibility criteria outlined by the FCA. There will be no change to tax status or any additional cost to change to Professional Client status.
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Trade size & volumeYou have traded, in significant size, in the spread bet/forex/CFD markets or other leveraged products (e.g. indices, shares, spot FX, futures, options, other derivatives etc.) at an average frequency of 10 transactions per quarter 10 transactions per quarter over the previous four quarters (with City Index and/or other providers). -
Size of portfolioThe size of your financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds EUR 500,000 (or equivalent in your local currency).
Acceptable examples of savings and investments: Cash savings, stock portfolio, stocks and shares ISA, trading accounts, mutual funds, SIPP (excluding non-financial instruments).
Unacceptable examples of savings and investments: Company pension, non-tradeable assets, property, luxury cars, jewellery.
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Professional experienceYou work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
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