Trading as a Pepperstone Pro client
Pepperstone Pro is a client classification targeted at sophisticated, informed and ambitious traders looking for trading certainty, and exceptional trading benefits. Product intervention powers will be coming into place on 29 March 2021, and if you’re classified as a Pepperstone Pro, these changes will not impact your regular trading activity.
Who is it for?
In Australia, clients are categorised as either retail or wholesale clients under the Corporations Act 2001 (Cth). There are a few different ways wholesale clients are assessed, but we use the term ‘Pepperstone Pro’ for clients who meet any of the eligibility criteria and are approved.
Am I eligible to become a Pepperstone Pro client?
ASIC has announced changes restricting a number of aspects of how retail clients are able to trade CFDs in Australia. These changes are due to come into effect from 29 March 2021.
There are a number of eligibility criteria that must be met, such as wealth and suitability, prior to becoming classified as a Pepperstone Pro client. When you do become approved and reclassified, these changes will not impact you.
We’ve set up Pepperstone Pro, so that eligible clients who want certainty and broader trading options will be able to more easily inform us of their wholesale status.
Value for money
We offer access to raw spreads so you know exactly what you’re getting charged from a liquidity provider and what we earn. Find out more about our pricing.
Most orders are executed in less than ~30ms*, which is ideal for scalpers and clients who run expert advisors.
Peace of mind
As well as being ASIC, FCA, DSFA and SCB-regulated, we segregate our client funds with tier 1 banks. We also offer many secure, fee-free funding methods to suit your needs.
More trading opportunities
Trade over 150 instruments across a large range of asset classes, including FX, CFDs and commodities. Find out more about our available instruments.
VIP client service
We know that every trader is different. For those looking for VIP pricing, we offer a premium client service with rewards for high volume trading.
Active Trader Program
Be rewarded for your high volume trading with cash rebates, paid daily on our Active Trader program.
Pepperstone Pro is only available to wholesale clients. To enjoy all the benefits of Pepperstone Pro, you’ll need to meet one of the following eligibility criteria:
Sophisticated Investor Test2
Has net assets of at least AUD$2.5million
Has previous experience that allows them to assess:
Has a gross income for each of the last 2 financial years of AUD$250,000.
Even if you meet these requirements, in some circumstances, we may still choose to not grant you Pepperstone Pro status.
|How to apply|
You’ll need to provide a certificate, valid for the preceding 6 months, certified by a qualified accountant that states you comply with one of the minimum wealth levels.
What protections do I lose if I become a Pepperstone Pro?
ASIC have proposed restrictions as part of their product intervention consultation. The following restrictions will not apply to you, as a Pepperstone Pro client, when they come into effect on 29 March 2021:
- Lower leverage implemented;
- Compulsory margin close-out at 50%;
- Access to the proposed negative balance protection.
While it will still be available on our website, you will no longer be given the disclosure that is offered to retail clients.
We’re not required under the Corporations Act to provide wholesale clients with access to our Internal Dispute Resolution process but we will still make this service available to you to 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 your matter may be excluded at AFCA’s discretion.
The risks and other important information are detailed in the Wholesale Client Information Statement.
Do I have to become a Pepperstone Pro if I meet the minimum requirements?
No. It’s up to you to decide if this option is what you want. You can also request to be re-categorised as a retail client at any time. This is particularly important to remember if your circumstances change.
How do I find out more?
If you want to know more about what it means to be Pepperstone Pro, please feel free to contact us at firstname.lastname@example.org or call 1300 033 375.
2Clients that qualify as and agree to being treated as wholesale clients pursuant to section 761GA of the Corporations Act 2001.
3 This is equivalent to AUD$1 million notional turnover per quarter.