Retail Client
A Retail Client is a client who is not a professional client. As a retail client, you are entitled to the maximum level of protection in relation to the FSA's Conduct of Business (COBS) and Client Money and Assets (CASS) rules; and the services of the financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS).
Elective Professional
In order to be catagorised as an elective professional client, the client must meet two of the following criteria:
1. Has carried out transactions, in significant size (USD 50,000 Notional), on the relevant market at an average frequency of 10 per quarter over the previous four quarters;
2. Has a financial portfolio exceeding EUR 500,000; and
3. Has worked in the fianancial sector for at least one year in professional position, which requires knowlwdge of the products to be traded.