Protections you lose being classified as a Professional Client

Professional clients are entitled to fewer protections under UK and EU regulators than retail clients. Please note that the following is not a comprehensive list but summarises the protections that you will lose being reclassified as a professional client:

• Your money will no longer be held in a segregated account, therefore when you fund your account, the ownership of your funds are transferred to us for the purpose of covering your obligations. Unless we have agreed in writing, we will not hold your money in accordance with the Client Money Rules (CASS) but as cash margin instead.
• You may lose the right to the Financial Ombudsman Service, unless you are, for example, a consumer, small business, or individual acting outside of your trade, business, craft, or profession. Although GCMAsia operates a ‘treating customers fairly’ policy and any complaint will be dealt with by an impartial compliance officer, please remember that a free alternative dispute resolution may not be available to you.
• Although we ensure that all communication with clients is clear and not misleading, the way in which we may communicate with professional clients (about the firm, our services and products, and remuneration) may be different from the way we communicate with retail clients, in respect of the level of detail and timing of the provision of information
• When obtaining best execution for retail client orders, the price of the instrument and costs relating to execution are the overriding factors, this may differ for professional clients.
• You will not be subject to the new leverage restrictions, therefore any profits or losses will be magnified.

How To Become A Professional Client

If you would like to be classified as a professional client, you must state in writing that you wish to be treated as a professional client and fulfill at least TWO of the following criteria set by the FCA:

• You have traded in significant size an average frequency of 10 times in each of the last 4 quarters on CFDs or Forex.
• You have an investment portfolio of + 500,000 EUR. (Including cash savings / financial instruments)
• You have worked for at least one year in the financial sector in a professional position, gaining knowledge of CFD and Forex trading. Please provide the following information:
  • Name of employer
  • Position held
  • Length of employment
  • How has this position provided you with knowledge or experience of CFDs / Forex?

Information You Will Need To Provide

In addition to completing the professional client application form, if we cannot confirm you meet the above criteria from your trading activity and account information, you will have to provide the following documents as evidence:

Application Process:

If you would like to apply to become a professional client, please contact your account representative or our support team at [email protected] or download our Professional Client application form.

Please complete the application form and email along with supporting documents to [email protected]

Applications are approved and rejected at GCMAsia’s discretion.