The European Securities and Markets Authority (ESMA) has formally adopted new measures on the provision of CFDs to Retail clients in the European Union which shall take effect on the 1st of August 2018. The measures include significant downsize in leverage, a specific margin close out rule, restrictions on trading benefits, etc.
You can become a professional client if you submit an application and meet among others two out of the three criteria mentioned below3:
¹ A standardised margin close out rule at the percentage of the minimum initial required margin prescribed above on a per account basis. For professional clients’ trading accounts the percentage is subject to changes.
² The objective of the Investor Compensation Fund (ICF) is to secure claims of Retail Clients through the payment of compensation (up to €20,000) in cases where we default on our obligations to you, if certain conditions are met. Read more here.
³ You can decide whether you wish to submit an application now or at a later stage or even remain to be treated as retail client. Please note that you have the option to revert your status back to retail once you become professional at any time if you wish so.
4 Financial instruments include shares, cash deposits made to fund or profits accrued from investing in derivatives, debt instruments and cash deposits. They do not include property, traditional commodity ownership or the notional value of derivative instruments.
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As 24option no longer offers Binary Options trading, and in an attempt to make this change as easy and seamless as possible for you, your previous binary balance has now been updated in your new Forex/CFD trading account.
Should you have any question or concerns about these changes, contact your account manager at any time or click here for our contact information.
Join our webinar with a financial guru “Alpesh Patel” to enhance your trading and market knowledge and learn more about trading Forex/CFDs by clicking below. After clicking to join, you’ll be contacted by your account manager to register you for the webinar.