Does anyone use a professional account from Fx brokers in London (what is requirements)
Broker recommendations are not allowed on the forum. You will have to do your own research.
Contact the British regulator "Financial Conduct Authority (FCA)" for more details on licensed and regulated brokers.
Broker recommendations are not allowed on the forum. You will have to do your own research.
Contact the British regulator "Financial Conduct Authority (FCA)" for more details on licensed and regulated brokers.
Actually, I don't want broker advice. How to open a professional account, what benefits are there? I want to get information from people with experience
Does anyone use a professional account from Fx brokers in London (what is requirements)
Requirements vary between brokers, so found your broker and they will help you with your request.
If you're specifically asking about UK "Professional Client" status, and associated account types, then no, the requirements are mandated by the regulator and do not vary between brokers (except in minor detail). You need to meet at least two of the following three conditions:
- Over EUR 500,000 in liquid assets
- Have worked in a relevant position in a regulated firm for at least a year
- Have regularly traded over the last 12 months (minimum of 10 trades per quarter for the last 4 quarters)
In other words: unless you're employed in the financial industry, you need to be seriously wealthy to qualify as a "professional client". You also need to be an existing regular trader, to prevent brokers trying to sign up rich but entirely inexperienced people with the promise of special trading conditions. The regulator deliberately restricts access to these accounts.
See "elective professional clients" at https://www.handbook.fca.org.uk/handbook/COBS/3/5.html
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