Elective PRO Account
Are you an experienced trader? You may be able to apply for elective professional account status and enjoy leverage of 100:1
Elective PRO Account
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Low Commmissions
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Ultra fast order execution
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1:100 Leverage
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Deep liquidity
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MetaTrader 5
Elective Professional Account Reclassification
- If you are a highly experienced trader, you may be able to apply for reclassification from retail to elective professional account status.
- Your account will not be subject to regulatory protections which apply to less experienced (retail) traders.
- Your account leverage will be set to 100:1, however, remember that with increased leverage comes increased risk.
- Your money will remain in a segregated client bank account unless we inform you otherwise.
- As an individual, you could be eligible to use the Financial Ombudsman Service, if you are not satisfied with the outcome of a complaint to us.
- Based on sufficient evidence you will provide during your application regarding your expertise, experience, and knowledge, we may obtain reasonable assurance that you possess a satisfactory level of knowledge and experience when assessing whether our products are appropriate for you.
- We may prioritise other factors, such as speed and likelihood of execution, if we determine they are equally or more important than overall price, however, this will not change the way we execute your orders.
- You have the right to request a different categorisation at any time should you require a higher level of regulatory protection.
Reduced Trading Restrictions and Protections
Please read the following information carefully and remember that as a professional client you will be entitled to fewer regulatory protections than you would be entitled to as a retail client.
Increased Leverage on CFDs
Leverage restrictions applicable to retail clients do not apply to professionals. But remember, with increased leverage comes increased risk.
Disclosures
We can use more sophisticated language when talking to our professional clients. However, we shall always communicate in a clear, fair, and not misleading way.
Knowledge and Experience
Based on sufficient evidence you will provide during your application regarding your expertise, experience, and knowledge, we may obtain reasonable assurance that you possess a satisfactory level of knowledge and experience when assessing whether our products are appropriate for you.
Financial Services Compensation Scheme
Professional Clients may not be eligible to benefit from the Financial Services Compensation Scheme (FSCS) which may benefit Retail Clients; the eligibility to make a claim under the FSCS is contingent upon several factors.
Check Whether You Qualify
If you are a professional trader, you can apply to be reclassified elective professional program. If you meet at least two of the following criteria, you may be eligible to reclassify as an elective professional client:
• You own a financial portfolio the value of which exceeds EUR 500,000;
Size of portfolio :
The size of your investment portfolio (held with gmgmarkets.co.uk and/or other providers), is defined as including cash deposits and financial instruments, exceeds EUR 500,000. If your portfolio is held outside of gmgmarkets.co.uk, we may ask you for scanned copies of statements from other providers.
- You have placed at least 10 relevant trades of significant size over the last four consecutive quarters;
Trade size and volume :
You must have carried out transactions, in significant size, in a relevant product with an average frequency of at least 10 per quarter during the previous four quarters (with gmgmarkets.co.uk and/or other providers). The average frequency of trades can be at one provider, or a combination of. We will ask you for scanned copies of statements for any trade activity outside of gmgmarkets.co.uk.
- You work, or have worked, in the financial services industry for at least one year in a professional position that requires knowledge of relevant products.
Professional Trading Experience :
You work, or have worked, in the financial services industry for at least one year in a professional position that requires knowledge of relevant products. We will ask you for details of your role and how it has provided you with sufficient knowledge and experience and may require you to provide evidence of this if necessary.
- You work, or have worked, in the financial services industry for at least one year in a professional position that requires knowledge of relevant products.
As a professional client, you will waive some regulatory protections afforded to retail clients. For more information visit our Client Categorisation Policy If you wish to apply for Elective Professional Account Reclassification, please contact us at: compliance@gmgmarkets.co.uk