Experienced Retail Clients

Permanent residents of Poland can apply to receive the status of Experienced Retail Clients (ERC) and be entitled to lower margin requirements for some instrument classes. In order for clients to obtain this status, they must fulfil certain criteria.

Who can be considered as an Experienced Retail Client?

The ERC status can only be assigned to retail clients who legally reside in the Republic of Poland and possess the necessary experience and knowledge of derivatives, including CFDs.

Criteria to determine Experienced Retail Client eligibility

Country of
Permanent Residence Poland

Proven experience

In order for clients to be considered as having enough experience to obtain ERC status, they must have carried out one of the following activities within the past 24 months:

• opening at least 10 transactions in CFDs with a nominal value of at least EUR 50,000 each per quarter within four quarters; or
• opening at least 50 transactions in CFDs with a nominal value of at least EUR 10,000 each per quarter within four quarters; or
• opening transactions in CFDs with the total nominal value of at least EUR 2,000,000 and the client has concluded at least 40 opening transactions per quarter within four quarters

Knowledge of derivatives, including CFDs

Clients who wish to obtain ERC status should be able to provide evidence of at least one of the following:

• the client holds appropriate professional certificates (CFA, FRM, PRM, ACI, Investment Advisor (DI), Securities Broker (MPW), etc.) or has completed relevant specialist education; or
• the client has completed at least 50 hours of training over the last 12 months on derivatives, including CFDs, confirmed by obtaining the relevant certificates issued after the verification of knowledge by competent entities conducting training sessions; or
• the client has at least one year of work experience in a position which requires professional knowledge of transactions regarding CFDs or other derivatives

Margin requirements for Experienced Retail Clients

Clients who have the status of ERC can trade CFDs with the following margin requirements depending on the underlying instrument:

• 1% (leverage 1:100) for all currency pairs, major equity indices (AUS200., EUR50, FRA40, DAX, J225, NASDAQ100, UK100, US30, US500, USTech100), and gold;
• 10% (leverage 1:10) for commodities other than gold, and non-major equity indices;
• 20% (leverage 1:5) for individual stocks, ETFs and other reference values;
• 50% (leverage 1:2) for CFDs on cryptocurrencies

For further information please refer to Client Agreement and Leverage Policy documents.