When you invest, your capital is at risk.

Elective Professional Clients

According to the applicable regulations in the UK, for the purposes of providing services to you, Stake will categorise and treat you as a “retail client” as defined by the Financial Conduct Authority in the United Kingdom. Retail clients are given the highest level of investor protection.

Due to regulations, certain instruments offered by Stake, classified as "Packaged Retail and Insurance-based Investment Products" ("PRIIPS") such as US Exchange Traded Funds ("ETFs") cannot be offered to UK retail clients without the provision of a Key Information Document ("KID").  This restriction means that only ‘Professional or Elective Professional Clients" (i.e non-retail customers) that meet certain criteria can invest in US ETFs.

Information on the procedure for reclassification from retail to ‘Elective Professional’ Client

Upon client's request, Stake is allowed to reclassify a retail client to an elective professional client. Before doing so, Stake needs to undertake an adequate assessment of the expertise, experience and knowledge of the client that gives reasonable assurance that the client is capable of making their own investment decisions and understand the risks involved.

In the course of that assessment, at least two out of the following three criteria must be satisfied.

  • You have carried out transactions, in significant size, on the relevant market (e.g. stocks, ETFs, or similar products in a Stake or another brokerage or share dealing account) at an average frequency of 10 per quarter over the previous four quarters;

  • The size of your  financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds EUR 500,000;

  • You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the products you trade in or want to trade in.

Documentary evidence must be provided to confirm your responses to the above.

Once your request for such reclassification is received, additional information will be sent to you for your review. You must read carefully and confirm that you understand all the information and warnings provided by us as in general, elective professional clients are afforded with a lower level of investor protection and may be treated differently than retail clients. Detailed information on this will be included in the documentation that will be provided.

It is clarified that Stake has the right to reject such requests at its absolute discretion. For further information on the Elective Professional categorisation, please contact us at support@hellostake.com.

Stake logo
App Store logoGoogle Play logo

Subscribe to our free newsletters

Stake is the trading name of Hellostake Limited, a company registered in England and Wales (Company no. 11676409). Hellostake Limited is authorised and regulated by the UK Financial Conduct Authority under the Firm Reference Number 830771. Registered address: 85 Great Portland Street, London, W1W 7LT, United Kingdom.

When you invest, your capital is at risk.

The value of your investments can go down as well as up and you may receive back less than your original investment. Any advice is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate independent taxation and legal advice. The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services.

At Stake, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Please view ourTerms & Conditions,Privacy PolicyandDisclaimers before deciding to use or invest on Stake. By using the Stake website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance

Copyright © 2023 Stake. All rights reserved.