Current and new clients of GT247.com are required to complete a short once-off Suitability Assessment.
GT247.com is a licensed over-the-counter derivatives provider (“ODP”). Conduct Standard 2 of 2018 requires a suitability assessment on all its clients is conducted. This is to ensure that the client understands the risks associated with trading in OTC derivatives.
Q: Is this assessment difficult and long to complete? A: No. There are only 4 questions with multiple choice options. This should take no longer than 2 minutes to complete.
Q: Will my answers to the questions determine whether or not I can open a trading account? A: No. You can open a trading account regardless of how you answer the assessment.
Q: If I decline to answer the questions presented to me, will I be prevented from trading? A: No, you may choose to decline to answer the questions and you may continue trading as per normal.
Q: Why do you need this information from me? A: Providing this information to us will allow us to communicate the risks associated with trading OTC derivatives to you based on your understanding of these products. Your answers will not affect your trading account or your access to trading with us.
New Account Opening:
When opening a new trading account with us, you will be required to complete a mandatory set of questions relating to your:
- financial situation;
- trading objectives;
- knowledge and experience in financial markets, in respect of your experience with over-the-counter derivatives.
Existing Account Users:
The information we receive from this once-off assessment allows GT247.com to (i) assess whether an OTC derivative transaction is suitable for you and, more importantly, (ii) ensure that you are aware of the risks associated with OTC derivative transactions.
If you are an existing GT247.com customer with an active trading account, the assessment will be provided to you for completion.
As an existing user, at the end of the assessment, you will be given the opportunity to decline to submit your answers but please note in declining to submit your answers, we will not be able to determine whether trading in OTC derivatives is appropriate for you but you will still be able to continue trading with us as per usual.