KEY FEATURES
OPPORTUNITY
Flexible leverage up to 500:1
POTENTIAL
Gain greater exposure
SECURITY
Segregated funds protection
PRO Account Leverage
Instrument
- Retail Leverage
- Other forex pairs
- Major stock market indices
- Minor stock market indices
- Gold (XAUEUR, XAUUSD & XAUAUD)
- Spot oil (XTI & XBR)
- Other commodities (Other Metals & Soft Commodities)
- Cryptocurrencies
- Equities or other assets
Professional Leverage
- Up to 500:1
- Up to 500:1
- Up to 200:1
- Up to 200:1
- Up to 500:1
- Up to 100:1
- Up to 500:1
- Up to 5:1
- Up to 20:1
Retail Leverage
- 30:1
- 20:1
- 20:1
- 10:1
- 20:1
- 10:1
- 10:1
- 2:1
- 5:1
ACCOUNT CONDITIONS
As an IC Markets Wholesale (Pro) client, you are not entitled to certain protections afforded to retail clients under Chapter 7 of the Corporations Act 2001 (Cth) (Act). This means IC Markets are not required by law to provide you with the same rights and protection measures as a retail client.
IC Markets are not required to provide Pro clients with access to our Internal Dispute Resolution scheme but we’ll still make this service available to you at no cost.
While you can still access the external dispute resolution provider Australian Financial Complaints Authority (AFCA), you may be treated differently given your status as an experienced wholesale investor and AFCA may exclude your matter at their discretion.
We are not required to provide you with updates to our Product Disclosure Statement (PDS), Financial Services Guide (FSG) or any other document IC Markets provides a retail client.
The risks and other important information are detailed in the 'Wholesale Client Information Statement (Wholesale clients only).'
Eligibility Criteria
To be eligible for a Pro account, you need to meet the "wholesale client" eligibility criteria under the Corporations Act.
If you answer yes to one of these two options, you may be eligible for a Pro account.
Option 1 - Wealth Test
An eligible client that qualifies as being treated as a wholesale client pursuant to section 761G(7)(c) of the Act. If you are able to answer 'yes' to the following, you may be eligible:
- An eligible client that qualifies as being treated as a wholesale client pursuant to section 761G(7)(c) of the Act. If you are able to answer 'yes' to the following, you may be eligible:
- You have net assets of at least A$2.5 million, OR
- You have a gross income for each of the last two financial years of at least AUD 250,000.
- Demonstrate your knowledge of leveraged trading by completing a short online test.
When calculating your net assets remember to include the following: your home, other properties/land, superannuation, trusts, shares, other investments, savings, value of business, car/boat/caravan.
If you’re eligible, it’s easy:
- Contact our account team to confirm your Income or Assets.
- Demonstrate your knowledge of leveraged trading by completing a short online test.
- Download an Application Form:
Fill the form and upload it into your client area.
Our accounts team will review your request to become a wholesale investor and contact you accordingly
By providing this completed form, you hereby acknowledge that you wish to apply to be treated as a Wholesale Investor and that retail client status and protections will not apply to you.
You have read and understood the 'Account Conditions' and risks and other important information detailed in the 'Wholesale Client Information Statement (Wholesale clients only)'.
Option 2 - Sophisticated Investor Test
An eligible client is someone who we believe has previous experience that allows them to assess:
- the merits of the product or service; and
- the value of the product or service; and
- the client's own information needs; and
- the adequacy of the information given by the licensee; and
- Requests that IC Markets consider my experience for the purposes of becoming a Sophisticated Investor as defined under 761GA of the Act.
You must be able to demonstrate that,
OR Work or have worked in the financial sector for at least one year in a professional position which requires knowledge of leveraged trading (or FX or CFDs)
If you’re eligible, it’s easy:
- Contact our account team to confirm your Income or Assets.
- Provide evidence of your work experience or your trading if you have not done the minimum requirements with IC Markets.
- Demonstrate your knowledge of leveraged trading by completing a short online test.
- Download an Application Form:
Fill the form and upload it into your client area
By providing this completed form, you hereby acknowledge that you wish to apply to be treated as a Wholesale Investor and that retail client status and protections will not apply to you.
You have read and understood the 'Account Conditions' and risks and other important information detailed in the 'Wholesale Client Information Statement (Wholesale clients only)'.
Frequently Asked Questions
As an IC Markets Pro account holder you are considered a wholesale client and not a retail client. This gives you access to different trading conditions. To become a IC Markets Pro client, you have to meet the "wholesale client" eligibility criteria under the Corporations Act and are expected to have a more sophisticated understanding of complex financial products.
If you’re not eligible for IC Markets Pro account, you can still access and trade thousands of financial instruments using a retail IC Markets account. You can continue to trade with the full retail client protection. You'll still benefit from our tight spreads, fast execution and industry-leading support.
Only clients that are new to IC Markets will need to first open a standard CFD trading account before applying for a IC Markets Pro account. If you already have a CFD account with us, you can apply for a IC Markets Pro account now, if you think you may be eligible.
If you are eligible and approved as a IC Markets Pro, retail trading restrictions according to the Corporations Act 2001 (Cth) in Australia won't apply to you.
Please note that you will lose some retail-only protections if you become a wholesale client.
Yes, you can use your trading history from other accounts and even other brokers.
Yes, you will have the same account number.
Unfortunately, we currently do not offer IC Markets Pro accounts to joint account holders.
Due to the change in trading conditions it is not possible to convert your open trades when changing to IC Markets Pro.
If you applied for IC Markets Pro account using an individual wealth test certificate signed by an accountant, you’ll need to provide a new certificate every 2 years or use other eligibility criteria to keep your PRO account status active.
This is because a wealth certificate is only valid for a period of 2 years from the date of issuance considering the potential changes in our clients' financial circumstances. It is the client’s responsibility to provide IC Markets with a new certificate or new eligibility criteria prior to expiry. Otherwise, your Pro account status will not be maintained and further disruptions might be potentially caused to your trading activities.
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