In Australia, clients are categorised as either retail or wholesale clients under the Corporations Act 2001 (Cth).
There are a few different ways wholesale clients are assessed but we use the term ‘Axi Elite’ for clients who meet the criteria and are approved.
ASIC has announced changes restricting a number of aspects of how retail clients are able to trade CFDs and FX in Australia. These changes are due to come into effect from 29 March 2021. If you are approved and classified as Axi Elite, those changes will not impact you.
It's important to note that you will lose some retail-only protections if you become Axi Elite, so you do need to consider this in your decision.
There are two main ways you may be eligible for Axi Elite status; either as a Wholesale Client or a Sophisticated Client:
Requirement 1: Wealth
Requirement 2: Accountants Certificate
If you’re eligible, it’s easy:
Simply email us as at email@example.com with your interest and submit proof of eligibility as certified by your accountant, and our team will provide you with next steps.
Requirement 1: You must satisfy at least 2 of the following to be considered:
Requirement 2: You will need to complete and submit a Request for Sophisticated Status Form.
Even if you meet these requirements, in some circumstances, we may still choose to not grant you Axi Elite Trader status.
Clients that qualify as being treated as wholesale clients pursuant to section 761G(7)(c) of the Corporations Act 2001.
Clients that qualify as and agree to being treated as wholesale clients pursuant to section 761GA of the Corporations Act 2001.
We will provide a written statement of the outcome of our assessment, noting the reasons for our decision.
If we are satisfied that you qualify for Axi Elite Trader status you will be required to provide written acknowledgement in accordance with the Corporations Act 2001.