Are you a professional trader? AUSPRIME offers a professional trading account to accommodate your unique needs.
PROFESSIONAL TRADERS
Eligibility for a Professional Account
If you satisfy at least 2 of the following criteria, you are eligible for our professional account.
- Trading Experience: You have carried out significantly large market transactions related to any asset, at an average frequency of 10 per quarter over the past 4 quarters.
- Portfolio: Your financial instrument* portfolio size exceeds €500,000.
- Relevant Experience: You currently work or have previously worked in the financial sector, in a professional capacity. This means you have the expertise and knowledge of the services and transactions involved, and you can duly assess associated risks.
*Financial instruments include shares, derivatives (only cash deposits made to fund/profits realised from investing in derivatives), debt instruments, and cash deposits. It does not include property portfolios, direct commodity ownership, or notional values of leveraged instruments.
Benefits of the AUSPRIME Professional Account
- Protected funds
- Trading with FIX API or GUI
- Continuous support from an expert team
- Effective risk management
Protections That You Waive as an Elective Professional Client
AUSPRIME; a prime of prime liquidity provider, is ESMA-regulated, upholding the stringent protocols in the MiFID II Directive. We will undertake a comprehensive assessment of whether you qualify as a Professional Client or an Elective Professional Client. By opting to be a Professional Client, you waive off the highest protection levels and information provision offered to Retail Clients.
Best Execution
As a B2B prime broker, we owe our clients top execution speeds and ensure honesty and transparency in all our dealings. Under Article 27 of the MiFID II Directive, we need to always act in the best interests of clients. But we aren’t required to prioritise overall costs as the most important factor. We might prioritise other factors that we deem more important.
Product Restriction
Product restrictions will not be imposed on you. We assume that you have the necessary level of experience and knowledge required to understand the risks associated with trading complex financial products.
Leverage Restrictions
The ESMA regulations implemented across the EU from August 01, 2018 have standardised trading norms for retail traders. This includes leverage caps, margin closeout, negative balance protection and restriction on incentives. The leverage restrictions do not apply to professional clients.
Professional Clients Leverage Limits
| AUSPRIME Professional Clients | |
|---|---|
| Major Currency Pairs | 1:100 |
| Minor Currency Pairs | 1:100 |
| Exotics Currency Pairs | 1:50 |
| Gold | 1:50 |
| Commodities other than Gold | 1:33 |
| Major Indices | 1:25 |
| Cryptocurrencies | 1:5 |
.
Negative Balance Protection
Negative balance protection means that a retail client can never lose more than the total sum invested for trading CFDs. We are not required to offer professional clients negative balance protection. Therefore, should your account fall into negative balance, you are obliged to make additional payments. This means you may incur losses exceeding your deposits.
Risk Warnings
We assume you have the expertise and knowledge to understand associated market risks. Therefore, you may not be provided additional disclosures that are required to be provided to retail clients. This includes standard risk warnings.
Marketing Communication
We are committed to communicating with clients clearly and transparently. However, we may use more complex language to communicate with you.
Onboarding Process
Application Procedure for Professional Clients
Please send an email to backoffice@ausprime.eu to request the account opening form. This will assist us in opening your account in accordance with the requirements of the Cyprus Securities & Exchange Commission (CySEC). It will also enable us to fulfil the legal obligations of identifying each client under the Cyprus Money Laundering Regulations.
Client KYC documents
Please send an email to backoffice@ausprime.eu to request the account opening form. This will assist us in opening your account in accordance with the requirements of the Cyprus Securities & Exchange Commission (CySEC). It will also enable us to fulfil the legal obligations of identifying each client under the Cyprus Money Laundering Regulations.
KYC Documentation
Once we approve the application, you will need to send the following documents.
- A certified copy of Your Passport / National Identity Card (translated by a certified translator if the document language is other than English / Greek)
- A certified copy of Proof of Address (utility bill, house deed, or bank statement not older than 6 months stating your name, full residential address, and date of issue)
- CV (as a confirmation of your trading knowledge and experience)
- Trading history or any other relevant document to show that your financial instrument* portfolio, including cash deposits and financial instruments, exceeds €500,000
Payment
After the application has been approved and the trading account created, you will be provided with wire instructions for your first deposit.
GUI/API Trading
Once we receive the funds and your account is credited, you will receive credentials for GUI trading or API integration from our back-office team.
Contact us for further information on the registration process.