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Understanding the difference between professional and non-professional subscribers

Exchanges and data providers often require end-users to declare their status as either "Professional" or "Non-Professional" when accessing real-time market data. This classification affects the pricing and terms of service they offer. When subscribing to real-time market data through OptionCharts, you will need to accurately declare your subscriber status.

In general, a "Non-Professional" Subscriber uses market data for personal non-business use. A "Professional" subscriber uses market data on behalf of businesses, entities, funds, or asset managers.

How to Determine Your Subscriber Status​

If all of these conditions apply to you, you may be considered a non-professional subscriber. If you do not meet one or more of these conditions, you are likely a professional subscriber.

Personal or Business Status

  1. You will use market data solely for personal use, not for your business or any other entity.

  2. You are not registered or qualified with the Securities Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC).

  3. You are not registered or qualified with any securities agency, any securities exchange, association or regulatory body in any country.

  4. You do not perform any functions that are similar to those that require an individual to register or qualify with the SEC, the CFTC, any other securities agency, any securities exchange, or association or regulatory body, or any commodities or futures contract market, or association or regulatory body.

Investor Status

  1. You are not engaged as an investment advisor (as that term is defined in Section 202 (a) (11) of the Investment Advisor's Act of 1940) or asset manager and you are not engaged to provide investment advice to any individual or entity.

  2. You are not subscribing to the service in your capacity as a principal, officer, partner, employee, or agent of any business or on behalf of any other individual.

Relationship with Organizations

  1. You use your own capital, not provided by any other individual or entity in the conduct of your trading.

  2. You do not conduct trading for the benefit of a corporation, partnership, or other entity.

Compensation for Services

  1. You have not entered into any agreement to share the profit of your trading activities or receive compensation for your trading activities.

  2. You are not receiving office space, equipment or other benefits in exchange for your trading or work as a financial consultant to any person, firm or business entity.

Resources​