Due to new ESMA regulatory requirements, there are restrictions on the maximum Multiplier BUX X can offer. This applies to everyone classified as a retail client. However, if you are eligible to be classified as a professional client, you can be entitled to a higher Multiplier:
Maximum Multiplier - Retail client
Maximum Multiplier - Professional client
To qualify for a professional client status, you will need to meet at least two out of three criteria outlined below by ESMA:
1) Professional Experience: You have worked in the financial sector for at least one year.
You will need to provide answers to the following questions:
- What is the name of your employer?
- Is the employer regulated by the FCA or any other financial regulatory body?
- What is your specific job title?
- Please provide a brief summary of how you feel the job has developed your knowledge and experience of leveraged product.
2) Size of Portfolio: You have an investment portfolio and/or savings account of *GBP 500,000 or more.
You will need to provide us with supporting statements showing your portfolio or account size.
- Statements must have been issued within the last 3 months
- Keep in mind that this can be a cumulative total of multiple accounts, including your account with BUX X.
* For UK clients this value is GBP 500,000, for Swedish clients Kr5,000,000 and for Danish clients Kr4,000,000
3) Trading Experience: You have performed at least 40 trades of significant size in the past year. (significant size means a notional trade size of GBP 5,000 (or currency equivalent) for cryptocurrency and single stocks, and GBP 40,000 for other asset classes).
You will need to send us a statement or ledger that will show enough trades of the required value at other brokerages. Or mention that you feel you have done this with BUX.