Client Categorization Notice
Darwinex Clients
1. Introduction
1.1 Tradeslide Trading Tech Limited is a company incorporated in England and Wales with Company Number 08061368 having its registered office at Acre House, 11-15 William Road, NW1 3ER, London (the “Company”, “us” or “we”). The Company is authorised and regulated for the conduct of investment business by the Financial Conduct Authority (the “FCA”).
1.2 We provide Internet based services, including (i) brokerage, (ii) software, (iii) investment management and (iv) ancillary services through the Company Website under the commercial name “Darwinex”.
1.3 Further information about the Company can be found in the Financial Services Register under Firm Registration Number 586466.
2. Client Categorisation
2.1 We are required under the rules of the FCA and the Markets in Financial Instruments Directive (MiFID) to classify our clients as Retail or Professional. Clients may request to receive a different classification at any time, either generally or in respect of specific circumstances.
2.2 For your information, we have included below an explanation of the differences in classification and the protections afforded to each level.
2.3 For the purposes of financial promotions, we will generally treat you as a Retail Client. When you open an account with us, we will classify you as a Per Se Professional Client or as a Retail Client. As a Retail Client you can request any time to be classified as an Elective Professional Client.
2.3 You will be able to consult your classification at any point of time in your platform “Settings”.
3. Retail Client
3.1 A Retail Client is a client who is not a Professional Client.
3.2 As a Retail Client, you are entitled to the maximum level of protection in relation to the FCA’s Conduct of Business (COBS) and Client Money and Assets (CASS) rules; and the services of the Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).
4. Professional Client
4.1 Per Se Professional Client
A Per Se Professional client includes any of the following:
An entity required to be authorised or regulated to operate in the financial markets including: credit institutions; investment firms; insurance companies; collective investment schemes or the management company of such schemes; pension funds or the management company of a pension fund; other authorised or regulated financial institutions; commodity or commodity derivatives dealers; local authorities; and other institutional investors.
A company meeting two of the following three requirements: (1) balance sheet total of EUR 20,000,000; (2) net turnover of EUR 40,000,000; and (3) own funds of EUR 2,000,000.
A national or regional government.
4.2 Elective Professional Client
Before a client can be categorised as an Elective Professional Client, the client must meet two of the following criteria: (1) has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters; (2) has a financial portfolio exceeding EUR 500,000; and (3) has worked in the financial sector for at least one year in a professional position, which requires knowledge of the products to be traded.
4.3 As a Professional Client, you will lose the following protections afforded to Retail Clients under FCA rules:
You will not be eligible to seek the services of the Financial Ombudsman Service.
If a Per Se Professional, you may not be eligible for compensation under the Financial Services Compensation Scheme.
We will not be required to provide you with the written risk warnings and notices required for Retail Clients in relation to transactions in complex financial instruments, in particular derivatives.
Where we assess whether a product or service is appropriate for you, we can assume that you have the necessary level of knowledge and experience to understand the risks involved in it.
If we assess the suitability of our investment services for you, we will be entitled to assume that you are able financially to bear any related investment risks consistent with your investment objectives.