Swyftx has grown rapidly over the last six years to become one of the region’s largest digital asset brokerages, with more than 1.2 million customers across its Group. There are polished and well-respected platforms operating in the US but a lot of the new breed of wealthy investors want a service that is ultra client-centric, with round-the-clock access to broker expertise. Caleb & Brown provides crypto brokerage, asset management and research services to thousands of private clients in the US, as well as Australia – pipihosa.com – . “Over the next couple of years we’ll look to significantly grow Caleb & Brown’s network of relationship managers so that we can target more wealthy clients from the big US exchanges on their home turf. Its chief executive, Jason Titman, said: “Caleb & Brown has quietly established one of the most impressive brokerage offerings in the world, with a heavily differentiated private client service. We see enormous growth potential. Peel-off high net worth clients from the largest exchanges. “Swyftx has the resources to build on Caleb & Brown’s competitive advantages.

Crypto Trading Taxes

Australian cryptocurrency exchange Swyftx has agreed to buy boutique digital assets brokerage Caleb & Brown in a deal targeting the US’s wealthiest crypto investors. The US currently accounts for around a quarter of all global trade volumes in cryptocurrency. The business launched in 2016 and offers a heavily personalised, one-to-one brokerage service to clients. Caleb & Brown is a crypto brokerage. It currently operates across the US, with a head office in Melbourne. Asset manager focussed on HNW private investors in the United States. The deal is the largest crypto acquisition in ANZ history and gives Swyftx access to the world’s leading digital assets’ market at a time when the US has sought to position itself as the ‘crypto capital of the planet’.

Margin trading also allows you to take “long” and “short” positions. Conversely, going short involves selling an asset you don’t possess, speculating that its price will decrease. This can be done without margin by using the funds in your balance to make a direct purchase, too. Going long means buying an asset you don’t currently hold, with the expectation of its price rising. This is only possible with margin, as you use borrowed funds to sell an asset you don’t own.

First, let’s address this question: what is required to qualify as an Intermediate or Pro client? To qualify as an Intermediate client, you must provide essential personal information, including your email, full name, date of birth, phone number, physical address, occupation details, Social Security Number (for US clients), a valid ID, proof of address, and a face photo. Pro clients have access to advanced features but must meet more stringent requirements. In addition to the Intermediate client criteria, Pro clients need to complete a Know Your Customer (KYC) questionnaire and enable two-factor authentication (2FA) for added security.

For US clients eager to engage in margin trading on Kraken, an additional step is necessary. To qualify as a Permitted Client under this definition, individuals must have more than $10 million in assets invested on a discretionary basis. US clients who are not already Intermediate or Pro clients must first achieve Intermediate status before they can self-certify as ECPs. Existing US Intermediate or Pro clients who haven’t previously traded on margin will also be asked to self-certify during their first margin trade. They must self-certify as an Eligible Contract Participant (ECP) as defined by US law. This certification process is in accordance with Section 1a(18) of the Commodity Exchange Act.