Before providing investment services in financial instruments, TWINO must assign one of three possible categories (retail client, professional client, eligible counterparty) to our investors in accordance with the requirements of the Markets in Financial Instruments Directive II (MiFID II) and the Latvian Financial Instruments Market Law. By default, TWINO classifies all of our investors as retail clients to provide the maximum possible amount of investor protection.

As a retail client, you will get the most protection for you as an investor. MiFID II provides broader regulatory protection for investors without professional knowledge and experience, hence the classification: retail clients. Investors with greater knowledge and experience (professional clients, eligible counterparties) gain less protection. The interests of a private client are protected within the framework of Latvia’s Investor Protection Law.

The category of a professional client can be obtained by individuals and legal entities who have the relevant experience, knowledge, and competence to independently make an investment decision and properly assess the risks associated with it. TWINO assumes that a professional client has the necessary experience and knowledge in all types of investment services, complex financial instruments, and simple financial instruments transactions, as well as the client can financially bear any risk of loss. The interests of a professional client are not protected under Latvia’s Investor Protection Law.

The category of an eligible counterparty can be obtained only by Investors – legal entities whose core business is to conduct regular transactions with financial instruments. Investors who have been granted the status of the eligible counterparty are subject to the lowest level of protection of interests and are not protected under Latvia’s Investor Protection Law.

Investors that wish to change the category assigned them can do so by sending a request to [email protected].