When a client opens a Saxo account, we classify the account according to a regulatory framework established by ESMA (the European Securities and Markets Authority), which oversees financial markets across Europe.
By default, all accounts are categorized as retail. This classification ensures that the account is governed by industry-wide regulations designed to protect traders. (Read also Trading restrictions due to ESMA regulation).
You may request a change to professional status at any time directly from your account. To qualify, you’ll need to meet specific regulatory requirements. As part of the process, you’ll be asked to answer a few questions to help us assess your eligibility:
- Navigate to the main menu
> Your account > Account status > Request professional status