MiFID requires firms to classify clients in three main categories, as "Eligible Counterparties", "Professional Clients" and "Retail clients" (the latter having the highest level of protection) and to assess their suitability and appropriateness for the products offered.
Saxo Bank notifies all its clients of their classification and appropriateness/suitability status and the information is available on the platform.
MiFID Risk Warning is only shown for Retail classified clients and if a client has one or more complex products that he/she is not appropriate for.
How to remove a Risk Warning
It is not possible to remove a Risk Warning, but it is possible to avoid it appearance on every login if you do the following:
1. Disable "Not Appropriate" products, you are not trading.
MiFID Risk Warning is only shown for products, enabled on a trading platform (see under Settings > Trading Products ).
For example: If you are "Appropriate" for Forex Spot and you only trade Forex Spot, you can disable other products and will not see a risk warning on the next login. Please be aware, that if you disable other products, you will not see them on the trading platform.
2. Retake appropriateness test
If you have one or more complex products that you are not appropriate for, all questions regardless of complexity will be shown in the appropriateness test questionnaire in the trading platform.
To retake an appropriateness test, go to Account > Other > Mifid status > Appropriateness test.
If, based on your answers, products are deemed appropriate, risk warning disappears.