New Individual Client Registration
1. Account Details
4. Becoming Classified as a Professional Client
The European Securities and Markets Authority (ESMA) have now confirmed that leverage will be restricted on the opening of a position by a retail client. These changes will take effect imminently and will apply to all CFD providers. The table below shows the impact on leverage and margin requirements for retail clients. These changes however will not affect Professional clients.
|Major FX Pairs||30:1||3.33%|
|Minor FX Pairs||20:1||5%|
Other measures include:
- a standardised 50% margin close out rule on a per account basis
- negative balance protection on a per account basis
These restrictions will not apply to professional clients. While lower margin rates will be available to professional clients, it is important to note the risks associated with this. We recommend you always keep your account well-funded. We are therefore informing our clients who may wish to change from retail to professional classification of the process and the protections you will keep and those you will lose.
Please read the following information carefully and then use the form to confirm whether you would like to change the classification of your account with Hantec Markets. Please note if you have multiple accounts with us, all accounts will be changed to reflect your classification.
There will be no change to the tax status of the product or your client money protection and no additional cost to become a professional client.
Protections You Keep
- Hantec Markets will hold and maintain an amount equal to your account value for each account you hold with us in a segregated client money bank account.
- As an individual, you are eligible for FSCS protection on up to £50,000 that you hold with us.
- As an individual (consumer), you are able to use the Financial Ombudsman Service should you not be satisfied with the outcome of a complaint to us.
- You retain the right to request a different categorisation at any time, for example if you wish to be afforded a higher level of regulatory protection.
Protections You Lose
- Hantec Markets will not be required to provide you with the current risk warnings we must provide to retail clients or any standardised risk warning that is introduced in future in relation to transactions in complex financial products.
- Certain FCA (or equivalent) rules relating to the form and content of information provided by Hantec Markets do not apply, including those relating to communications and financial promotions.
- Retail clients will benefit from negative balance protection being introduced in the near future. However, this functionality will not be available to professional clients.
- Hantec Markets will soon be required to restrict leverage to between 30:1 and 2:1 on the products we offer to retail clients. Higher leverage can work against investors and amplify losses.
- We are not obliged to determine the best possible result in terms execution, or where there is more than one competing venue to execute an order, we do not have to consider our own commissions and costs relating to each of the eligible execution venues when assessing which to use in order to provide best execution. However, we will continue consider both of these factors. For further details please refer to our Execution Policy.
6. Terms and Conditions
I hereby confirm and acknowledge the following:
I have read, understood and agree to be bound by the HML Terms and Conditions which has been provided to me via the HML website.
The information I have provided on this Application Form is complete and accurate. Should there be any changes to the information provided I will inform HML immediately. Only once HML accepts my application to open an account, will there be a binding agreement between myself and HML.
I have read the Risk Disclosure Notice which has been provided to me via the HML website, and understand the risks involved in leveraged trading.
I confirm I will not require notification should the initial value of any instrument held in my account depreciate by 10% or more. I will monitor my own account.I certify the above statements are correct *Please agree with the Terms and Conditions