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Becoming a Professional Client in the UK

Last updated: 30 ліпеня 2025 г.

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Under the rules of the Financial Conduct Authority (FCA), only persons who have been categorised as Professional Clients can trade crypto asset derivatives in the UK. We’ve designed a clear path to help you determine whether you qualify as a Professional Client and guide you through the steps needed to confirm your categorisation.

Under FCA rules, clients may be categorised as either Retail or Professional Clients. A person categorised as a Professional Client may benefit from access to a broader range of financial products, however will not benefit from the same investor protection measures as Retail Clients.

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    Per Se Professional Clients

    This category covers organisations that meet set regulatory or institutional criteria (for example, financial institutions, large corporate entities, or public bodies). Entities will need to provide certain documents to prove they meet the relevant criteria. These documents may include financial statements, evidence that an entity is a regulated financial market participant, and evidence of the types of investment business carried on by the entity.

    Unregulated investment firms wishing to be categorised as a Per Se Professional Client are also required to complete a qualitative assessment which evaluates the firm’s knowledge and experience trading leveraged financial instruments.

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    Elective Professional Clients

    Individuals or businesses that do not qualify for Per Se status may still request to be categorised as Elective Professional Clients if they meet specific eligibility requirements. An Elective Professional Client is typically an individual or a smaller business that can demonstrate a sufficient level of experience, financial strength, or professional background related to trading leveraged financial instruments (such as derivatives or structured products).

    To qualify, clients must meet at least two of the three criteria listed below, and successfully complete a qualitative assessment to demonstrate sufficient knowledge and understanding of the associated risks.

    1. Significant Transaction History

    You have traded leveraged derivatives or structured products (e.g., futures, options, CFDs) at least 10 times per quarter over the last 4 quarters, with each trade of:

    £10,000+ (stocks or crypto)

    £40,000+ (debt, index, or commodity)

    Documents needed: Trade receipts or account statements
    ⚠️ Trades must be consistent over time, not just concentrated in one quarter.

    2. Financial Portfolio > €500,000

    You hold a portfolio of financial instruments valued above €500,000.

    What counts: Cash, stocks, bonds, SIPPs, ISAs.
    What doesn’t: Property, commodities, direct crypto.

    Documents needed: Recent bank or investment statements.

    3. Relevant Professional Experience

    You’ve worked at least 1 year in a financial role requiring knowledge of leveraged products.

    Documents needed: Letter from employer confirming:

    - Your role and responsibilities

    - Your experience with leveraged instruments

    - Length of employment (at least 1 year)

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    Initial declaration: If you already have an account, you’ll need to sign-in and then indicate whether you seek Per Se or Elective Professional categorisation. If you’re new, you’ll first create an account, then fill out the Professional classification support form.

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    Suitability & knowledge check: If you’re applying as an Unregulated Per Se Professional or as an Elective Professional, you’ll complete a questionnaire to assess whether you have the required knowledge and experience trading leveraged financial instruments.


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    Documentation & upload: Provide evidence matching your chosen route. This can include financial statements, proof of licensure or job roles, plus account records showing trading history or portfolio size.


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    Outcome: We’ll email you once we’ve reviewed your documents, questionnaire results, and acknowledgments. If you meet the requirements, we’ll update your status accordingly.

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    Access to crypto asset derivatives: Trade crypto derivatives such as futures, broadening your range of trading strategies.


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    Reduced retail protections: By opting for Professional status, you accept fewer regulatory protections—such as foregoing certain investor protections, including recourse to the Financial Ombudsman Service if anything goes wrong.

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    Monitoring and reclassification: If your financial circumstances or trading activity change, you can ask to revert to Retail status. We may also reassess your classification as required by regulations.


You remain a Retail client, which means you cannot trade crypto derivatives in the UK. You can reapply later if your situation changes.

Ready to trade?

Log in to your Kraken Pro account on the web, select any derivatives trading pair, and click "Unlock Futures" to begin. You'll be guided step-by-step through verification, required documents, and a brief knowledge questionnaire.

unlock

Please ensure you have:

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    Relevant documents on hand. (PDF, PNG, JPEG, etc.)

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    A clear understanding of which eligibility criteria you meet.

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    Clear, legible scans to avoid delays.

FAQ

Most applications are reviewed promptly once all required documents and questionnaire responses have been submitted. Delays can occur if additional evidence or clarifications are needed, so ensure your supporting materials are accurate and complete. You will typically receive an email update once a final decision is made.

There is no separate fee to request categorisation as a Professional Client. Standard platform fees for trading or withdrawals still apply, but opting up itself does not incur additional charges.

Yes. Documents submitted for categorisation - such as financial statements or proof of trading - are handled in accordance with strict privacy and data protection policies.

If your circumstances change - eg. you no longer meet the criteria, your financial situation shifts significantly, or you wish to be treated as a Retail Client instead of a Professional Client - you need to inform us so that we can reassess your categorisation.

You must wait at least 24 hours to retake the questionnaire.

We encourage all applicants to use this time to familiarise themselves with the characteristics, risks, and costs of the financial products they intend to trade.

Professional status with us does not automatically transfer to other exchanges or jurisdictions. Each financial institution and regulatory regime has its own classification rules. You may need to repeat the process if you seek similar professional status elsewhere.

Important risk notice

Crypto asset derivatives services are provided by Payward Digital Solutions Limited, which is licensed by the Bermuda Monetary Authority (RN: 202403268) to conduct digital assets business in and from Bermuda. These services are not regulated or covered by investor protection measures in the UK. Access to these services is arranged by Crypto Facilities Limited, which is regulated and authorised by the Financial Conduct Authority (FRN: 757895) to make arrangements with a view to transactions in investments. This page is directed at investment professionals only, and must not be acted on or relied on by other persons. Investment activity to which this page relates is available to, and will be engaged in with, investment professionals only.

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