GBG: it depends on your circumstances and what you are trading? But overall you lose a lot of protection from the FCA.

User: I currently trade with IG. FOS and FSCS and negative balance protection, yes

GBG: It’s worth looking at qualifying for a professional account – if you fit the criteria. IG give that option – as do the other brokers… But with that too you don;t get the same client protection from the FCA or the brokers – here is a bit of info

User:  I don’t trade high enough volumes

GBG: In that case if you’re a small trader best ovoid off shore brokers.

User: Because they don’t accept small accounts?

GBG: Just because they don’t offer any protection to clients and customer service certainly won;t be as good as IG
Some more info on upgrading to professional status here:

User: Thank you for that, I will absorb it. Just humour me with this next question: Best Australian broker in your opinion?

GBG: Pepperstone is the market leader
But IG and CMC are both active over there too…
Pepperstone also have an office here in London.

User: lovely stuff, thank you for your help. I imagine that there are residency issues to applying offshore as well. I will have to check. Thank you for your help

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