BECOMING A PRO TRADER
Trade on Trade360 is done with accordance to the CySEC regulations, and as such, it adheres to recently-adopted measures by the European Securities and Markets Authority (ESMA). These measures pose different limitations on CFD trading. However, clients with a Professional account can keep trading under the previous conditions. Both veteran and new clients of Trade360 can apply for a Professional account.
What are the differences between a Professional account and a retail account?
With the new ESMA limitations, the main difference between a Professional account and a retail account is in the leverage rates. The leverage limits set by ESMA are aimed at lowering traders’ potential losses, but they also limit their potential profits. A Professional account is not subject to these limitations, as the following table of selected assets demonstrates:
|Asset||RETAIL ACCOUNT LEVERAGE||PROFESSIONAL ACCOUNT LEVERAGE|
|Major Currency Pairs||1:30||1:400|
If we take the currency pairs as an example:
When you have a $1,000 balance and you open a 25,000 EUR/USD position, you earn or lose $2.5 for each pip. A 10 pips movement on the EUR/USD will result in a profit or loss of $25.
On the other hand, with a Professional account and a $1,000 balance, you can open a 340,000 EUR/USD position and earn $34 for each pip. A 10 pips movement on the EUR/USD will result in a profit or loss of $340. With higher leverages, a professional account provides you with greater potential profits, but also with greater potential losses.
Switching to a Professional account
Not everyone is eligible to a Professional account. If you want to check your eligibility and apply for a Professional account, please click on the button below.
Elective Professional account Eligibility Test Q&A
To be eligible for a Professional account, you’ll need to demonstrate trading knowledge. Please answer the following questions: