Professional Accounts

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1

I read in another topic that Professional Accounts will be unaffected by the FCA ban on cryptocurrency CFDs and ETNs. However, I can’t find much information about the implications of clicking on “Upgrade to Pro”.

I therefore have the following questions:

  • Is it true that Professional Accounts will still be able to create cryptocurrency CFD positions after 06/01/2021 (or even 01/12/2020).
  • What are the “bonuses” described in the “Upgrade to Pro” screen?
  • I’m not particularly interested in the higher leverage and the greater risk that it brings. Do you have to use the highest level of leverage in a Professional Account or can you choose to reduce it to the levels of a Retail Account or perhaps somewhere in the middle?
  • Does the upgrade have any impact on open positions in a CFD Retail Account?
  • Is it possible to create a completely new Professional Account (perhaps using an alternative email address if necessary) and retain the original Retail Account?
2

@Supraman

  1. We will not allow even professional clients to trade cryptocurrencies after 06/01/2021. They’ll be suspended altogether.
  2. The leverage is set & cannot be changed. If you wish to reduce the exposure, you can use smaller quantities to reduce the risk. 1 quantity of TSLA with 1:2 leverage is the exact same exposure as 1 quantity of TSLA with 1:2000 leverage.
  3. It does have an impact on open positions. They’ll require less margin which means one will have more free funds to utilize.
  4. Nope.
3

Thanks for the informative reply @David! It’s very helpful.

What are the “bonuses” available with a Professional Account?

4

Hi

Can you open crypto for professional clients please.

Thanks