The Ace Account is FairMarkets’ supreme offering. The Chairman’s Lounge within our company offered to our VIPs. Changes to regulations in Australia( following global trends) around consumer protection now means that higher leverage and other features are now only available to experienced and wealthy traders, which make sense. The FairMarkets Ace account caters to this group.
| INSTRUMENT | PROFESSIONAL LEVERAGE | RETAIL LEVERAGE |
|---|---|---|
| Major Forex Pairs | Up To 500:1 | 30:1 |
| Minor Forex Pairs | Up To 500:1 | 20:1 |
| Stock Market Indices | Up To 200:1 | 20:1 |
| Gold | Up To 500:1 | 20:1 |
| Oil | Up To 100:1 | 10:1 |
| Other Commodities | Up To 50:1 | 10:1 |
| Cryptocurrencies | Up To 10:1 | 2:1 |
To get access to the benefits of being an Ace you will need to meet one of the following eligibility criteria tests:
* An eligible client that meets the requirements of the Sophisticated Investor test is someone who we believe has previous experience that allows them to assess:
** Clients that qualify as being treated as wholesale clients pursuant to section 761G(7)(c) of the Corporations Act 2001.
*** Accountants certificate - 2-year expiry
retail negative balance protection.
Being an ace comes with some drawbacks.
These are client protections that you will lose.
As a FairMarkets Ace, the following restrictions won’t apply to you:
Our Internal Dispute Resolution process is not required to be accessible to you under the Corporation Act as a wholesale client, but we’ll still make this service available to you.
If you don’t meet The Ace criteria, you can still trade with Fairmarkets on our Standard or Aussie Premium Accounts benefiting from our tight spreads, fast execution, and premium customer support. You can be eligible to upgrade to a FairMarkets Ace account after a 6-month trading period by demonstrating the Sophisticated Investor Test trading requirements.
The Accountant Certificate is valid for a period of 2 years from the date it was issued.
Our customer support will be in contact with you before the expiry of the Certificate. If you forget to upload a new Certificate within this time, Fairmarkets will assess your eligibility for The Ace Account under our other criteria. If you do not meet this criterion, your account will be converted to a Standard Trading Account.
As a Fairmarkets Ace, the following restrictions won’t apply to you:
