Trade as a Professional Client
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Criteria to qualify as a Professional Client
In order to qualify to become a Professional Client with iQuoto, a minimum of 2 out of the 3 eligibility criteria outlined by the Financial Conduct Authority (FCA) must be satisfied. There will be no change to tax status or any additional cost to change to Professional Client status with iQuoto.
In making our assessment we may rely on information we already have about you and/or may request additional information from you. We may also call you to discuss your investment experience and knowledge.
Trade size and volume
You 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 over the previous four quarters.
Size of portfolio
The 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: Shares, Money market instruments, Units in collective investments e.g. unit trusts, UCITS, Cash, ISAs (cash and stocks and shares), CFD and spread betting accounts, Derivative contracts (futures, options, swaps and forwards) relating to securities, currencies, interest rates, financial indices or commodities, SIPPs. (Unacceptable examples of savings and investments: Managed pensions, Property, Non-liquid assets).
You 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.
Protection you may lose by becoming a Professional Client
If you qualify as a Professional Client, you should note that where we treat you as a Professional Client rather than a Retail Client, a number of FCA rules will cease to apply. In particular:
- Disclosures: You may not be provided any of the additional disclosures required to be provided to Retail Clients (for example on costs, commissions, fees and charges and foreign exchange conversion rates). In practice, we have no current intention to change the additional disclosures currently available to you.
- Communications: As a Professional Client, we may consider your trading expertise and may use more sophisticated language than when communicating with Retail Clients.
- Appropriateness: Where we assess whether a product or service is appropriate for you, we can assume that you have the necessary level of experience and knowledge to understand the risks involved in relation to any investment, service, product or transaction.
- Order Execution: Our order execution requirements may differ between Professional and Retail Clients. For Retail Clients we prioritise overall price and cost whereas other factors such as speed and likelihood of execution may be used for Professional Clients. In practice, we do not anticipate changing the way we execute your orders.
- Prompt Execution: We do not need to inform you of material difficulties we may have with the prompt execution of your orders.
- Client Money: We will continue to segregate your funds under the FCA client money rules.
- Financial Ombudsman Scheme (FOS): ‘Professional Clients’ may be entitled to refer complaints to the FOS as ‘consumers’.
- Financial Services Compensation Scheme: Professional Clients may still be classified as ‘eligible claimants’ entitled to compensation under the Financial Services Compensation Scheme in the event that an authorised firm is unable to fulfil its financial obligations.
- Regulations restricting leverage and other measure such as standardised Risk Warnings and other future measures intended as a way to protect Retail Clients will not be applicable to Professional Clients.
How do I register as a Professional Client?
Open a trading account with iQuoto
Qualify as a Professional Client
Start to trade!
Leverage limits – Retail Clients vs Professional Clients
The tables below provides a comparison of the Leverage Limits for Retail Clients and Professional Clients:
Leverage Retail Clients
|Major FX Pairs||30:1|
|Minor FX Pairs||20:1|
|Commodities other then Gold||10:1|
Leverage Professional Clients
|Major FX Pairs||100:1|
|Minor FX Pairs||50:1|
|Commodities other then Gold||50:1|
14-16 Dowgate Hill
+44(0) 203 9506214
Our products are aimed at retail clients, professional clients and institutional clients. FX and CFDS are complex leveraged products which are traded on margin. Trading in FX and CFDs is high risk and may not be suitable for everyone, ensure that you fully understand the risks. You may sustain a loss of some or all of your invested capital. For more information please refer to our Risk Disclosure.
80% of retail investor accounts lose money when trading CFDs with iQuoto.
iQuoto Limited is an Appointed Respresentaive (FRN 826970) of Kapwealth Limited a firm, authorised and regulated by the Financial Conduct Authority.
iQuoto Limited doesn’t hold any client funds and uses third-party custodian services. These services are authorised and regulated by the Financial Conduct Authority and are fully regulated to hold client money for the purpose of investment.