Discover Pro trading

Based on the information you have provided we consider you meet the conditions required to become an Elective Professional сlient. We therefore believe you have sufficient knowledge, experience and expertise to understand the nature of the services which will be provided and the risks associated.

However, before we proceed, we would like to warn you that as a consequence of becoming an Elective Professional сlient, you will lose particular regulatory protections which would have otherwise been available to you as a Retail сlient.

You will lose the following protections:

Appropriateness Test

We assume that you have sufficient knowledge and experience to understand and assess the risks of the relevant financial instruments. For this reason, we do not implement a test of appropriateness for your transactions.

Understanding of Risk

We will not be obliged to ensure that you understand the nature of the risks involved in any transactions in connection with the services we provide you, nor are we obliged to provide you with written risk warnings in relation to any transaction.

Terms of Business

We will be under no obligation to set out in writing the basis on which our services are provided, although it is our practice to do so. Our Terms & Conditions, and Policies, remain applicable to you to the extent they are not in conflict with your status as a Professional Client which is elaborated in the client categorisation policy.

Prior Disclosure of Charges

We are not required to inform you of the charges applicable to the services we will be providing although it is our practice to do so.

Financial Promotions

Rules relating to financial promotions are limited or modified in their application to Professional Clients compared to Retail Clients. Financial promotions directed at Professional Clients’ are only subject to the high level requirement that they are fair, clear, and not misleading.

CIF Client Compensation Fund Scheme

Only Retail Clients have access to compensation from the Cyprus CIF Client Compensation Fund Scheme where we are unable to meet our obligations.

No Negative Balance Protection

We do not offer negative balance protection for Professional Clients. You may request such protection, but we have absolute discretion as to whether your request shall be accepted.

Difference in Best Execution

For Professional Clients the relative weighting of the order execution criteria is decisive, not only total consideration (i.e. price and costs as for Retail Clients) but also the speed, the probability of execution and settlement of the order as well as scope and type of order are also to be taken into consideration).