It is now possible to apply for a ‘professional client’ status with BUX. This will mean that you will be allowed to trade with a higher Multiplier.
Due to new ESMA regulatory requirements, there are restrictions on the maximum Multiplier BUX can offer. This applies to everyone classified as a retail client. However, if you are eligible to be classified as a professional client, you can be entitled to a higher Multiplier.
|Product||Maximum Multiplier - Retail client||Maximum Multiplier - Professional client|
Keep in mind that the guaranteed stop loss per trade, the negative balance protection on your account, and the GBP 50,000 FSCS protection all remain applicable.
To qualify for a professional client status, you will need to meet at least two out of three criteria outlined below by ESMA:
1) Professional Experience: You have worked in the financial sector for at least one year.
You will need to provide answers to the following questions:
- What is the name of your employer?
- Is the employer regulated by the FCA or any other financial regulatory body?
- What is your specific job title?
- Please provide a brief summary of how you feel the job has developed your knowledge and experience of leveraged product.
2) Size of Portfolio: You have an investment portfolio and/or savings account of *€500,000 or more.
You will need to provide us with supporting statements showing your portfolio or account size.
- Statements must have been issued within the last 3 months
- Keep in mind that this can be a cumulative total of multiple accounts, including your account with BUX
* For UK clients this value is £500,000, for Swedish clients Kr5,000,000 and for Danish clients Kr4,000,000
3) Trading Experience: You have performed at least 40 trades of significant size (significant size means a notional trade size of €2,500 (or currency equivalent) for cryptocurrency and single stocks and €10,000 for other asset classes) in the past year.
You will need to send us a statement or ledger that will show enough trades of the required value at other brokerages
If you do meet 2 of the above criteria and are interested in being classified as a professional client with BUX, all you need to do is click here to go to the form and submit your details and you will be contacted via e-mail shortly.