How to receive products and services from NCM 

Traders that satisfy the minimum eligibility for elective professional classification may become clients of NCM.  Doing so will mean they won’t be subject to the same leverage and product restrictions, nor will they receive the same regulatory protection, as retail traders. 

Can you answer yes to two or more of the following questions?

   1.    Have you carried out a minimum average of ten leveraged derivative transactions of significant size per quarter, over the last four quarters?

   2.   Do you have a cash and/or liquid investment portfolio exceeding €500,000?

   3.   Have you worked, for at least one year, in a professional position in the financial sector relevant to NCM's services and leveraged products?

Based on the information that you provide us, NCM will undertake an assessment of your expertise, experience and knowledge to provide reasonable assurance, in light of the nature of the products and services to be offered, that you will be capable of making your own investments decisions and understanding the risks involved. 

Satisfying the above requirements will enable NCM to accept your client application.  If you are not eligible to become a professional trader, NCM will unfortunately be unable to accept your application.

What protections do NCM clients not get? 

Higher leverage

Your professional account enables you to trade with higher leverage, while retail clients have leverage restrictions. Using higher leverage may amplify returns, but it can also increase losses if your position goes against you. 

No negative balance protection

Negative balance protection guards against losing more money than you have in your account. As a professional trader, you will not have access to this feature, and therefore are responsible for making additional payments should your balance go negative. This means you could lose more than the sum you initially invested.

Sophisticated language and assumed experience

Traders who hold professional accounts are more experienced, by nature of fulfilling the account criteria. This means the language we use for professional clients will assume a more advanced level of market knowledge than for other traders.

Reduced risk warnings

The risk warnings we use when communicating with professional clients will be reduced compared to messages required for retail traders. 

Potential restrictions on complaints

The services of the UK Financial Services Ombudsman (FOS) may not be available to you as a professional client.

Different best execution requirements

We owe our clients a duty of best execution when executing orders. The overall price and cost of transaction is the priority for retail clients.  For professional clients we may prioritise other factors such as speed and likelihood of execution, if we determine they are equally or more important than overall price. In practice, it won’t change the way we execute your orders.