Customer Knowledge Assessment (CKA)
The Monetary Authority of Singapore (MAS) requires all CFD providers to determine whether trading CFDs is suitable for you, based on specific assessment criteria.
If you fail the initial assessment, you will be required to take a short quiz before you can begin trading. You can find full details on the CKA and the quiz below.Take the quiz
What is the Customer Knowledge Assessment?
The Customer Knowledge Assessment (CKA) is designed to protect the interests of Retail clients. The assessment is a Monetary Authority of Singapore (MAS) requirement and means all CFD providers in Singapore are required to assess whether a client has the relevant knowledge or experience to understand the features and risks of trading CFDs before they can begin trading.
All clients applying for a City Index account will be subject to the CKA, which is included in a specific section of our application form.
Customer Knowledge Assessment Criteria
To pass CKA, you must meet one of the assessment criteria detailed below:
- Trading experience – traded at least 6 times in CFDs or leveraged Forex (Unlisted Specified Investment Product) in the past 3 years
- Education – have a finance-related diploma or higher
- Professional qualification – have a finance-related professional qualification
- Work experience – have worked a minimum of 3 consecutive years in the past 10 years in a finance-related position
What if I don't pass the Customer Knowledge Assessment?
You will be informed of your CKA outcome upon submission of your application. If you fail to meet the assessment criteria during your application, you can still open and trade on a City Index account. To do so, you will need to pass a short quiz and submit a copy of your certificate to us so we can open your account. Follow the steps below to sit the quiz, or download a detailed guide here.
Launch the quiz website
Choose the CFD module
Take the quiz
What do I need to do once I pass the quiz?
Once you have successfully passed the relevant quiz, you will receive a quiz certificate and will be eligible to trade on your City Index account. You will need to supply us with a copy of your quiz certificate, either by logging in to My Account and using the Document Upload tool, or by emailing us.
Note: The CKA does not apply to Accredited Investors. You can find out more about Accredited Investor status here.