When a client opens a Saxo account we categorise the account using a regulatory framework (ESMA - the supervisory authority for Europe).
By default, all accounts are classified as retail. This means industry-wide regulations designed to protect traders dictate how the account is governed. (Read also Trading restrictions due to ESMA regulation)
You can check your classification status at any time directly from your account:
- Navigate to the main menu > Your account > Account status > Request professional status
Your status is indicated by the tick next to either Retail client or Professional.