RE: Massive Implications1 Oct 2018 11:39
IGG stated at beginning of 2018 "The winnings can be large. Peter Hetherington, IG’s chief executive, says some 3,000 customers — about two per cent of its total — generate about half of the company’s non-US revenue. These high-earners will typically pay £85,000 a year in transaction fees to the platform, meaning they pocket many multiples of that".
You have to meet 2 out of 3 rules.One is the 500k or have a good proven record of trading financials or have been or still in the industry for at least a year
"However, it might not be so easy to get approved to “professional” status by your broker. You will need to satisfy at least 2 out of the following 3 criteria:
You need to have placed 10 trades in each quarter in the last 4 quarters, in “significant” size. I have spoken to 2 CEO’s of prominent spread betting companies, and they are still wondering what is meant by “significant”.Please do not worry about it. If you are a regular trader, you will be fine.
You need to have €500,000 in liquid assets.
You need to have worked in the trading industry for at least 12 months and be familiar with trading of CFDs"
IMHO.