As a regulated firm in Cyprus, we are required to make sure that clients who trade complex products, such as CFDs, have the knowledge and experience to understand the risks. If you haven't traded CFDs for a long period, the assessment we did when you first opened your account may no longer reflect your current situation.
The retake is triggered automatically when your CFD account has been open for at least 12 months and has had no activity for 12 months or more - no positions opened, closed, or held during that period. This includes clients who hold a CFD account but have never traded CFDs.
In the meantime, your CFD account is set to close-only. This is a temporary restriction that lifts as soon as you pass the test.
📄 Note
This retake applies to clients of Trading 212 Markets Ltd. It does not affect your Invest or Crypto accounts in any way, nor does it affect clients of other Trading 212 entities.
What does "close-only" mean for my CFD account?
While your account is in close-only mode, you can still:
- View your CFD account, balances, instruments, and history.
- Withdraw or deposit funds from your CFD account at any time.
- Use your Invest and Crypto accounts as normal - close-only applies to your CFD account only.
What you cannot do is open new CFD positions. Any attempt to buy on the CFD account will show the same window, asking you to take the test.
❗️ Important
Any pending CFD orders are cancelled when the close-only restriction is applied.
How do I take the test?
When you next log in to your CFD account, you'll see a warning explaining the situation. Tap Next to start the test. The test takes only a few minutes and includes questions around your CFD knowledge and experience.
If you tap Close instead, the warning will appear again the next time you sign in or try to place a CFD order.
What happens if I pass the test?
As soon as you pass, the close-only restriction is lifted automatically, and your full CFD access is restored. You don't need to contact us - this happens immediately within the app.
Depending on how you did on the test, you might get a disclosure about the risks related to CFDs.
What happens if I fail the test?
If you don't pass, your CFD account stays in close-only mode, and a cooldown is applied before you can try again:
- After your first failed attempt: 5-day cooldown - or you can watch a few educational videos to retry immediately.
- After any further failed attempts: 30-day cooldown.
There is no limit on attempts. Rather than seeing the cooldown as just a wait, use it to keep learning: practise risk-free in a demo account and work through the educational resources in the app. Building your knowledge now will help you with the test and with understanding these products over the long term.
Can I practise before retaking the test?
Yes, and we would really encourage you to do so. You can practise in a demo account using virtual money, with no risk to your own funds, and we provide educational materials on how CFDs work and the risks involved. We strongly recommend using these, along with other reputable sources, to build your understanding before you retake the test. More than that, it helps to think of trading as an ongoing journey rather than a one-off test: markets, products, and your own circumstances all change over time, so keeping your knowledge up to date is something worth doing continuously, not just when an assessment is due.
Will I be asked to retake the test again in the future?
It will happen again if you go through another 12 months with no CFD activity (no positions opened, closed, or held).