Jump to content

Professional Qualificaition


Recommended Posts

All,

 

Although the assessment criteria are absolutely correct for the requirements for a "Professional" account to section 3.5.3 paragraph 1 of the FCA code of conduct, the application process does not take into account subsequent paragraph 3 where it states that a client can request to be "elected" as a professional client.

 

It should also be noted that the Code of Business is not intended to protect the retail investor and clearly offers the retailer a way of "opting out" of these protections, the role of the broker is to undertake due diligence in assuring that the retailer is aware of the risks.

 

The effect of ESMA is that I am going to have to de-versify my portfolio and present my portfolio with a greater risk to meet the margin requirements (which is contrary to it's desired effect). If IG can leverage paragraph 3 requirements to accommodate long term and profitable clients, this would give IG a significant lead in the market place.

 

I don't wish to change my diversification strategy (I've been profitable for twelve straight years).

 

[MOD EDIT: please refrain from posting personal details as this goes against our terms of service] 

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      13,682
    • Total Posts
      68,337
    • Total Members
      57,236
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    Melou
    Joined 20/01/21 04:08
  • Posts

    • So trading has opened and the value of the shares is still wrong. Time to move brokers. Matter for the FSA?
    • Yardley Yeadon @MichaelYeadon3 11h Replying to @itvnews @MattHancock No variant is proven to be more harmful that the original. The trend of respiratory viral evolution is to lower lethality & greater ease of transmission, which is consistent with there being 40 viruses which cause symptoms of the common cold. You’re fighting evolution, just stop   Meanwhile this web site extols the virtues of jogging and cycling wearing a mask, while the video below it has a more realist take on masks. Joggers and cyclists should wear masks – here's why (theconversation.com)       .
    • So, I contacted IG support. They said it would be a WEEK before I could access my shares. A WEEK! Any chance of profit gone, left with the pickings after the market has taken whatever value it wants out of the new company. Still waiting for feedback from 'the enterprise team', whoever they are. FT has my holding up by 28.6% in shares, plus whatever premium the market adds (currently around 7%). Unacceptable.
×
×
  • Create New...