Are You a Professional Trader?
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 leverage 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?
As a Professional client, you will lose the following protections afforded to Retail Clients under the FCA rules, including but not limited to the following:
- You will not be eligible to seek the services of the FOS and may not be eligible for compensation under the FSCS.
- You will be 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.
Please ensure you read and understand the Client Categorisation Notice.