Professional Client Application

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 a 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 Fortrade 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 the 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.