Elective professional client status FAQ
Note: this page is for information purposes only. Certain services and features may not be available in your jurisdiction.
What's elective professional client status?
Elective professional client status lets an eligible retail client request to be treated as a professional client under MiFID II.
It's an opt-in process. You need to request the change yourself, meet the applicable criteria and complete the required written process before the reclassification takes effect.
Who can apply for elective professional client status?
You can request elective professional client status if you're currently classified as a retail client and meet at least two of three qualifying criteria.
What are the qualifying criteria?
You need to meet at least two of the following:
your portfolio of financial instruments, including cash deposits, exceeds EUR 500,000
you've carried out transactions of significant size on the relevant market at an average frequency of 10 per quarter over the previous four quarters
you've worked for at least one year in the financial sector in a professional role requiring knowledge of the transactions or services you're requesting
Does meeting two of the three criteria automatically make me a professional client?
No.
Meeting the criteria means your request can be considered. You still need to request reclassification and complete the required written process before your status changes.
How do I request elective professional client status?
You can start your request from your profile page or directly from the X-Perps trading page.
From your profile
Open your Profile.
Find Professional account.
Select Apply.
Follow the on-screen steps to submit your request.
From the X-Perps trading page
For X-Perps that support higher leverage, such as selected BTC or ETH contracts:
Open an eligible X-Perp market.
Open the leverage adjustment menu.
Select 50x.
If you aren't yet classified as a professional client, you'll be prompted to start the application process.
Follow the on-screen steps to submit your request.
On the web trading page
On the web trading page, you may also see an Unlock Professional Account banner in the order panel. Select the banner to start the application process.
Availability of the entry points may depend on the market and your account eligibility.
Note: your status changes only after all three steps have been completed.
Can OKX automatically change my status to elective professional?
No.
Elective professional status must be requested by you. We can't move you into this category without you initiating the process.
Is elective professional client status available for all OKX products?
No.
On our platform, elective professional client status is currently available for X-Perps. Eligible professional clients can access leverage of up to 50x on X-Perps.
Does elective professional status change how X-Perps work?
No.The underlying trading mechanics remain the same. Liquidation, liquidity, slippage and settlement work in the same way regardless of client category.
What can change is the leverage available to you.
What protections may change if I become an elective professional client?
Professional clients don't receive all of the same regulatory protections as retail clients.Changes may include:
fewer or different information, disclosure and warning requirements
changes to investor compensation rights
different suitability and appropriateness requirements
certain retail protections no longer applying, or applying differently
differences in access to some complaints or dispute-resolution mechanisms
Before your reclassification takes effect, we'll provide a written warning explaining the protections you may lose.
Will I still be covered by an investor compensation scheme?
Your eligibility for certain investor compensation rights may be affected if you're treated as a professional client.
The protections that may change will be explained to you in writing before you confirm your request.
What's the difference between elective professional status and my existing client classification?
Your existing classification is determined through the appropriateness assessment.
Elective professional status is different: it's a separate process that an eligible retail client actively requests and that requires the two-of-three test and a separate written procedure.
Do I still need to complete the appropriateness assessment?
Yes.
Elective professional status is separate from the appropriateness assessment and doesn't replace it.
You must complete the appropriateness assessment before accessing derivatives on our platform, regardless of your client category.
Can I request elective professional status before completing the appropriateness assessment?
No.
The appropriateness assessment remains a separate requirement for accessing derivatives on our platform.
Can I request professional treatment for only a specific service?
Yes.Your written request can ask to be treated as a professional client generally or for a specific service.
Does OKX recommend becoming an elective professional client?
No.
OKX Europe Markets Limited provides execution-only services and doesn't recommend whether you should request reclassification.
The decision to request elective professional client status is yours.
Can I change back to retail client status later?
Yes.
If you no longer want to be classified as an elective professional client, you can contact our OKX Assistant in writing and request to return to retail client classification.
What do I need before requesting elective professional client status?
Before requesting reclassification, you need to:
complete identity verification
complete the appropriateness assessment
meet at least two of the three qualifying criteria
submit the request on your own initiative
You'll then need to complete the required written warning and acknowledgment process before the reclassification takes effect.
Does professional client status mean trading is less risky?
No.
Professional client status changes your regulatory classification and can affect the leverage available to you. It doesn't remove the risks of leveraged trading.
Liquidation, liquidity and slippage risks continue to apply, and higher leverage can increase both potential gains and losses.