At Asia Future Trading, we classify clients according to the Australian Securities and Investments Commission (ASIC) regulations. ASIC primarily distinguishes between Retail and Wholesale Clients:
Retail Clients
This is the default classification for clients who do not meet the criteria for a Wholesale Client. Retail Clients benefit from comprehensive disclosure protections under the Corporations Act, such as Product Disclosure Statements (PDS) and Financial Services Guides (FSG).
Wholesale Clients
Wholesale Clients are considered to have sufficient knowledge and experience to make their own investment decisions and understand the risks involved. They receive fewer regulatory protections compared to Retail Clients.
Eligibility Criteria for Wholesale Clients
A client may be classified as a Wholesale Client if they meet any of the following conditions:
Price or Value Test: The investment amount is AUD 500,000 or more.
Individual Wealth Test: Has net assets of at least AUD 2.5 million, or a gross income of at least AUD 250,000 in each of the last two financial years (certified by a qualified accountant).
Sophisticated Investor: Assessed by a licensed financial services provider as having sufficient experience and knowledge to understand the risks involved.
Institutional Investor: A licensed financial institution.
Note: If you believe you meet the criteria for a Wholesale Client and wish to apply for this classification, please contact our customer service team for assessment.