Client Classification Following ESMA Measures.
The European Securities and Markets Authority (ESMA) has recently announced a number of product intervention measures for Retail Clients that will come into effect on 1st August 2018.
These measures will affect all Retail Clients of Tickmill UK Ltd and include:
- Limits on the amount of leverage that Tickmill can offer to retail traders
- A 50% margin close-out rule on a per account basis
- Negative balance protection on an account-by-account basis
|Product Category||Professional Account (Max Leverage)||Retail Account
|Additional margin required on a Retail Account|
What are the pros and cons of becoming a Professional Client?
|Benefits of becoming a Professional Client:||Protections waived by Professional Clients:
Are you eligible to become a Professional Client?
In order to qualify, you must meet at least two of the three criteria below:
- You have carried out transactions, in significant size, on the relevant market at an average frequency of 10 trades per quarter over the previous four quarters.
- The size of your financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds €500,000.
- 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.
How to apply to become a Professional Client?
- Login to the Tickmill UK Client Area
- Mouse over your user profile on the top right and then click on Client Classification
- Complete the Application Form