The process for applying for access to the crypto CFD leverage trading on Swyftx differs depending on whether you are a retail or wholesale investor. For information on applying as a wholesale investor, go to 'Wholesale investor applications'.
Before you apply
Considerations before applying for a retail crypto CFD leverage trading account include:
Product knowledge: You will need to demonstrate that you understand how CFDs, leverage, margin and key product risks work.
Financial information: We’ll need you to share some information about your current employment and financial circumstances. This may include questions used to assess whether the product is appropriate for you and whether you fall within the target market. In some cases, we may ask you to provide additional documentation to support your responses.
Australian customers only: Our leverage trading platform is currently only available to Australian customers.
How to apply for a retail crypto CFD leverage trading (derivatives) account
Log in to your Swyftx account on our web platform.
Select your circled initial in the top-right corner of the dashboard.
Under Switch Platform, select Leverage.
Select Start an application.
You’ll be taken through the application process:
Validate your details: We’ll ask you to confirm that the account details we have on file are up to date.
Suitability determination: The first step of the application process is for us to determine your suitability to trade in derivatives products. This will be assessed using a combination of your financial circumstances, past trading experience, and product knowledge.
Agree to the product terms: To be eligible, you must review and agree to all product terms and conditions, including having read the Product Disclosure Statement, Financial Services Guide and Target Market Determination located at https://swyftx.com/terms-of-use/derivatives/.
Await approval. Some applications may be approved automatically, while others may require manual review. Where manual verification is required, processing can take up to 2 business days, and longer if further information is needed.
If you are approved, you can fund your trading account and access trading, subject to the product terms, platform availability, and any further onboarding steps.
If you do not meet the eligibility requirements after your first attempt, there is a mandatory 6-month waiting period before you can try again.
If you are unsuccessful following your second attempt, you will not be able to use the leverage trading platform on Swyftx.
Wholesale investor applications
To gain access to the wholesale leverage trading (derivatives) product, you must have a Swyftx account. Additionally, you need to qualify and be approved as a wholesale investor, meaning you need to meet one of the following requirements:
Have net assets of at least AUD $2.5 million; or
Have a gross income of at least AUD $250,000 for each of the last two financial years.
You will also be required to complete an Asset Declaration Form, which must be signed by an authorised accountant who belongs to one of the prescribed Australian professional accounting bodies.
If you meet the above criteria and are interested in applying, please contact our live chat support team. They will assist you in booking a consultation with our dedicated customer success team.