Forex Brokers for Professional Traders

Written by Naylyan Nazifova

Naylyan Nazifova

Naylyan Nazifova is a recognised expert in the online trading field. She has many publications and analysis covering forex trading, stock investing and personal finance. 

, | Updated: October 25, 2024

While trading is equally accessible to beginners and experienced traders, some brokers offer advanced investors the chance to improve their trading conditions, making trades extra cost-effective. Institutional clients, also known as professional traders, comprise a special group of investors that may apply for exclusive broker accounts and unlock benefits that are not available to retail traders.

If you are ready to elevate your forex trading by applying for professional status, we can recommend 10 top-notch forex brokers that offer Institutional accounts. The brands we have reviewed make sure to provide the best trading conditions to their professional clients, offering tighter spreads, competitive commission rates, and higher leverage that exceeds retail limits.

1Fusion Markets

Rating: 4.9 ⭐

74-89% of retail CFD accounts lose money

Top Rated

2FP Markets

Rating: 4.8 ⭐

73.85% of retail investor accounts lose money

3Pepperstone

Rating: 4.7 ⭐

75.5% of retail investor accounts lose money

4IC Markets

Rating: 4.6 ⭐

70.64% of retail investor accounts lose money

5AvaTrade

Rating: 4.5 ⭐

76% of retail investor accounts lose money

6Global Prime

Rating: 4.4 ⭐

74-89% of retail CFD accounts lose money

7Plus500

Rating: 4.1 ⭐

80% of retail investor accounts lose money

8FXCM

Rating: 4.0 ⭐

70% of retail investor accounts lose money

9Saxo Bank

Rating: 3.7 ⭐

65% of retail investor accounts lose money

10IG

Rating: 3.6 ⭐

70% of retail client accounts lose money

Top 10 Brokers Offering Institutional Forex Trading Accounts

Best Forex Brokers for Professional Traders Ranked by Trustpilot Score

IC Markets

There are three different account types you can choose from as an IC Markets customer. If you believe that you have the balance and skills to engage in professional trading, you may want to consider opening a professional account. The brand offers its professional customers the highest level of protection, ensuring clients’ funds segregation. That said, those who opt for professional accounts must keep in mind that they will be excluded from the Investor Compensation Fund (ICF) program as it is available only to retail customers.

Many traders may consider applying for a professional trading account with IC Markets as it removes leverage restrictions, allowing the use of a leverage ratio of up to 1:500 on major forex pairs. IC Market has adopted a rather standard application procedure for professional accounts, requiring trades in the respective market of a bigger volume, with at least 10 high-volume trades made per quarter in the last four quarters. Traders should also prove they have professional experience of at least one year in the financial sector and the size of the financial instruments portfolio amounts to at least €500,000.

Criteria for Professional Traders at IC Markets

Global Prime

To gain access to more advanced trading conditions like higher leverage, Global Prime members can apply for a professional trading account. Those who qualify for a professional status will be able to use leverage of up to 1:500 on certain tradable instruments. The professional trading tier will also provide early access to newly released products and advanced trading services. Trading rebates are also an advantage worth mentioning, with this type of incentive being based on one’s trading volume as well as other customers’ referrals.

Getting a dedicated account manager is yet another benefit of trading as a professional client of Global Prime, with this type of trader also being able to skip the support queue whenever they wish to speak to a Global Prime representative. To qualify for the professional trading account at Global Prime, you must complete the broker’s Sophisticated Investor Test and the Wealth Test. The former requires passing a pro trading knowledge quiz, placing 20 trades per quarter, with trades’ notional volume being equal to or exceeding AU$1,000,000 per quarter in any four quarters within the last two years. You may also provide proof of working experience of at least one year in the financial sector. As for the wealth part, you can either hold net assets of at least AU$ 2.5 million in the last six months or have an annual income of AU$ 250,000 or more over the previous two years.

Criteria for Professional Traders at Global Prime

FXCM

In addition to the retail forms of trading accounts, FXCM also offers the option to apply for a professional account, which unlocks many advanced features like higher leverage and access to exclusive products and services. Those who wish to place orders as professional traders must be aware that they will no longer be eligible for additional protection tools like negative balance protections, leverage limits on high-risk products, and investor compensation schemes.

In order to apply for professional accounts, members of FXCM must meet certain criteria. These include carrying out at least 10 large-volume trades per quarter in the last four quarters, maintaining a financial portfolio of at least €500,000, and having a working experience of at least one year in a relevant financial field, which ensures knowledge of the products to be traded. To make the qualification even easier, the broker requires its customers to meet only two of the three criteria for professional traders.

Criteria for Professional Traders at FXCM

SAXO

While SAXO can offer great trading conditions to retail traders, certain regulatory limits can be bypassed only by creating a professional trading account with the broker. You should be aware that trading as a professional will uncover higher leverage and early access to products and services but it will also mean giving up on some safeguard tools like negative balance protection and leverage limits on high-risk products.

Professional traders will be given the opportunity to use a portfolio-based margin model where instead of applying a predetermined margin, the broker will allow professionals to open positions with margin based on specific risk factors. What is more, professional traders can use some of their portfolio products as collateral for their margin trading sessions. The requirements one should meet to become a professional trader at SAXO include placing 10 large-sized orders in the last four quarters, having at least one year of working experience in the financial field, and owning a financial portfolio with instruments whose value equals at least €500,000.

Criteria for Professional Traders at SAXO

Fusion Markets

Traders who wish to elevate their trading experience by gaining access to higher leverage, bigger trading volumes, and fewer trading restrictions can apply for a professional account at Fusion Markets. The list of benefits that come along with the professional trading status includes maximum leverage of 1:500, early access to newly released products and services, a dedicated account manager, quicker communication with customer support agents, and events and perks exclusively available to Premium clients.

Boosted leverage ratios are available across all supported products at Fusion Markets, with some values worth mentioning including 1:500 maximum leverage on both major and minor currency pairs, with gold, commodities, and energies also offering leverage of up to 1:500 to professional traders. Clients of Fusion Markets can upgrade to a professional status by completing a Wealth Test or a Sophisticated Investor Test. To prove you are eligible to conduct trades of a larger scale as a professional trader, you should confirm that you own net assets worth at least AU$2.5 million and you must obtain a certificate from a qualified accountant, with the certificate being dated no later than the previous six months. The entire list of requirements you should meet to qualify for a professional trading account at Fusion Markets can be found on the broker’s official website.

Criteria for Professional Traders at Fusion Markets

AvaTrade

While AvaTrade strives to offer competitive trading conditions to its retail clients, due to regulatory requirements, these types of accounts come with certain limitations due to the high risk of trading financial instruments with high leverage. However, traders can lift those restrictions by applying for a professional trading account at AvaTrade. Being a professional customer of the broker will enable trading major forex pairs with leverage of up to 1:400, with other tradable instruments also offering significantly higher leverage caps.

To qualify for a professional trading account at AvaTrade, you must meet at least two of three criteria. To prove they are eligible to make large-volume trades, customers of AvaTrade must have made at least 10 large-size orders in relevant markets in the last four quarters. Said relevant markets include OTC derivatives like leveraged CFDs or Forex. Those applying for professional accounts must also provide account statements from the previous month, providing data on trades made with regulated brokers. Traders must also confirm they have the experience to trade professionally, with a working experience of at least one year in the financial sector showing they have the required knowledge about OTC derivatives. Professional experience can be proven by providing a letter from the employer, confirming the role of the trader in the respective company. Last but not least, professional account applicants must provide a bank account statement or an account statement from the last month, confirming the worth of their financial instrument portfolio, which must exceed €500,000.

Criteria for Professional Traders at AvaTrade

Plus500

To cater to the preferences of every trader, Plus500 offers different account types, with traders who wish to boost their potential returns via higher leverage having the opportunity to open professional trading accounts. While gaining a professional trading status will eliminate leverage limits on high-risk instruments and investor protection, trading with a professional account at Plus500 will grant access to quite a few exclusive perks.

Professional account holders will be able to use boosted leverage on all tradable products available at Plus500, with the cap on leverage available on currency pairs being 1:300. Additional perks include having negative balance protection, rapid order executions, client money protection, and cash rebates. To be eligible for a professional account at Plus500, you must have made at least 10 large-size orders per quarter in the last four quarters, maintain a financial portfolio whose worth exceeds €500,000, and have professional experience of at least a year in the financial sector.

Criteria for Professional Traders at Plus500

FP Markets

While FP Markets offers several account types suitable for retail traders, the broker is also prepared to meet the needs of more advanced trading enthusiasts. If you wish to lift up the restrictions on leveraged tradable instruments, you can opt for a professional account at FP Markets. While you will not be eligible for compensation under the Investor Compensation Fund (ICF) program nor will you have negative balance protection applied to your account, as a professional trader, you will be able to trade different products with significantly higher leverage.

Both major and minor pairs, excluding those with TRY, can be traded with leverage of up to 1:500 whenever you are a professional trader at FP Markets. The same maximum applies to gold and silver trades, with other tradable instruments also offering much higher maximum leverage. To be eligible to trade as a professional at FP Markets, you must have made at least 10 large-size trades on a relevant market per quarter in the previous four quarters. The rest of the requirements include maintaining a financial portfolio with instruments whose worth exceeds €500,000 as well as providing proof of a working experience of at least a year in the financial sector.

Criteria for Professional Traders at FP Markets

CMC Markets

If you believe you can benefit from an upgrade of your trading status at CMC Markets, you can check whether the professional trading account is the right solution for you. One should be aware that opening a professional account with CMC Markets will eliminate some high-risk trading protections like regular warnings, leverage caps, and negative balance protection. That said, professional traders are allowed to trade instruments with significantly higher leverage, which in the case of trading forex, could potentially reach up to 1:500.

In addition to a higher leverage ratio across all supported tradable instruments, CMC Markets’ professional account also unlocks access to perks like forex rebates, products and services that have not been released to retail customers, and funds protection thanks to a segregated trust account. If you own net assets of at least AU$2.5 million or your annual gross income for the last two years amounts to at least $250,000, then you have passed the Wealth Test required for professional trading at CMC Markets. Additionally, traders must complete a test to prove their knowledge in trading as well as demonstrate their experience in trading through several steps available on the Pro Account page of CMC Markets.

Criteria for Professional Traders at CMC Markets

IG

If you engage in various forms of trading through IG’s innovative platform, you have the opportunity to unlock advanced trading conditions by creating a professional account with the broker. Before you take the steps required to apply for a professional trading status, you must be aware that additional protections like negative balance protection, customer compensations, and leverage limits will not be available to professional traders.

Advanced trading through a professional account at IG unlocks higher leverage on all tradable instruments, access to more tradable products, and a margin decrease of up to 90%. Professional clients will also have the chance to use up to 95% of the assets in their portfolios as collateral during margin trading. To be sure you qualify for a professional trading account at IG, you must fulfill a few requirements. If you have placed at least 10 orders of a significant volume per quarter during the last four quarters and your financial instrument portfolio exceeds €500,000 then you are eligible for a professional account. There is also a requirement for professional experience in the financial sector of at least one year, but traders are required to meet only two of the three conditions to be eligible for IG’s professional trading account.

Criteria for Professional Traders at IG

What Is an Institutional Trading Account?

Institutional trading accounts, also known as professional accounts, are specifically catering to traders or institutions that prefer to make orders of higher volumes. Many forex brokers allow their clients to apply for institutional accounts that will allow them to handle bigger trades. Professional accounts typically come with better trading conditions that may include higher leverage, tighter spreads, and low commission rates.

Since institutional accounts handle customers with larger capitals, it is common for brokers to offer professional traders access to markets with higher liquidity. This type of investor will also have the option to use advanced tools for market analysis and dedicated account managers that can help pro clients with any trading questions.

The vast variety of advanced features that come with professional trading is available only to traders who qualify for institutional accounts. To be able to open such a trading account, investors or institutions must provide several documents that will prove their eligibility for professional trading.

Who Qualifies as an Institutional Client?

While anyone interested in trading with a small budget can qualify as a retail trader, there are specific institutions and individuals that fall under the category of professional/institutional clients. Typically, institutional investors are companies or organizations that trade funds on behalf of some individuals or groups of investors.

Some examples of entities that may apply for professional trading accounts include hedge funds, pensions, and insurance companies. Since institutional traders are buying and selling substantial amounts, they are often considered the more sophisticated participants in the forex and overall trading market. In addition to non-bank institutions, individuals who are well-experienced in the financial market and have the capital to trade higher amounts can also apply for professional trading accounts at many reputable forex brokers online.

Application Process and Requirements for Institutional Accounts

The application process for professional trading accounts can be slightly different depending on the broker you plan to join as an institutional investor. That said, most forex brokers supporting professional trading accounts will require traders to provide somewhat similar documents to guarantee their eligibility for institutional trading.

If you want to upgrade your retail trading status or open a new institutional account with a forex broker, you will need to provide several documents. Those will serve as proof of your tradable capital and trading experience. While there are three main qualification criteria for professional traders, it is possible to qualify by meeting just two of them.

Professional traders must:

• Have placed at least 10 large-volume trades per quarter in the last 12 months
• Have previous or current working experience of at least one year in the financial sector
• Have a financial portfolio of at least €500,000

Depending on your country of residence and the regulator overseeing forex trading services in your jurisdiction, the minimum portfolio requirement may have a different limit that needs to be surpassed by professional traders. Usually, brokers consider trades of €10,000, €50,000, or higher to meet the condition for large-volume trades. However, if the broker has not specified what counts as a larger tradable amount, you can contact the support team and ask for additional information. Copies of trading activity statements, investment portfolios, and proof of working experience are some of the documents you may be asked to provide during the institutional account application process.

Benefits of Using Institutional Accounts

To help you decide whether institutional accounts are the right trading solution for you, we suggest you compare the strengths and weaknesses of this trading option.

Written by N. Nazifova