CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Elective professional traders can open an FXCM professional account. If you are able to answer yes to two or more of the following, you may be eligible:
Have you traded leveraged derivatives in significant sizes over the last four quarters?
Do you have a financial instrument portfolio exceeding EUR 500,000?
Have you worked in the financial sector, in a professional position requiring knowledge of derivatives trading, for at least a year?
In addition to the above criteria, to qualify for professional categorisation, you must have the necessary expertise, experience and knowledge to be capable of making your own investment decisions.
You need to be aware that professional clients forgo certain regulatory protections that are currently offered to Retail Clients under the Financial Conduct Authority ("FCA") rules. These include but are not limited to the following:
Negative Balance Protection: You are responsible for ensuring that your account does not fall into a negative balance. If it does, you will need to make additional payments to bring your balance back above zero – meaning that your losses can exceed your deposits.
Leverage limits: FXCM is required to limit leverage on different products offered to retail clients to comply with the Financial Conduct Authority ("FCA") requirements. These restrictions do not apply to professional clients and higher leverage can work against investors and amplify losses.
Risk Warnings: FXCM will not be required to provide you the current risk warnings we provide to retail clients in relation to transactions in complex financial instruments.
Client Money: Funds you transfer to us will not be held in accordance with the FCA client money rules.
Please ensure that you read and understand the Client Categorisation Notice as it contains important information regarding the differences in classification and the protections afforded to each level.
With FXCM, you get Access to innovative tools and platforms while you are trading with a regulated & trusted broker since 1999.
