International FX brokerage OANDA Corporation’s Australian division has introduced a new type of trading account for professional traders in anticipation of upcoming Contracts for Difference (CFD) trading restrictions being implemented by the Australian Securities and Investments Commission (ASIC) on March 29th.
The broker indicated that the new Professional Account “will allow experienced clients to access a range of features including 100:1 leverage, margin relief when they place a guaranteed stop-loss order, and attractive volume rebates. However, this account is not for everyone. Traders must meet stringent criteria in order to qualify as a wholesale client or sophisticated investor before they can upgrade to the Professional Trading account.”
OANDA also indicated that by choosing to trade in a Pro Trading account, they agree to waive certain protections and recommend traders review the full details of such a trading account before making their decision.