To comply with Financial Conduct Authority (FCA) regulations, you must complete two questionnaires to confirm your understanding of crypto risks before using Topper’s crypto services in the UK.
- You must pass these assessments to use Topper.
- You will have a 24-hour cooling-off period, during which buying crypto will not be possible.
If you do not meet FCA requirements, Topper cannot provide you with an account.
What do I need to complete?
You must answer:
- Appropriateness Assessment – Confirms that you understand crypto-related risks.
- Self-Categorisation Statement – Identifies which investor category is best to describe you.
If you fail the Appropriateness Assessment or Self-Categorisation Statement, you cannot use Topper’s services.
What is the Appropriateness Assessment?
You will also be asked to complete a short questionnaire of multiple choice questions aimed at assessing your understanding of the risks involved in buying or selling crypto.
What is the Self-Categorisation Statement?
You will be asked to choose a category that best describes you as an investor. This is to understand your level of investment knowledge and identify which type of investor you are.
- Restricted investor – You have not invested more than 10% of your net worth in high-risk assets and don’t plan to.
If you don’t fit into this category, you cannot use Topper due to FCA rules.
How often do I need to complete these assessments?
- The Appropriateness Assessment is one-time, unless you invest in higher-risk crypto in the future.
- The Self-Categorisation Questionnaire must be completed annually.
What happens during the 24-hour cooling-off period?
If you're a new UK customer, you cannot buy or sell crypto for 24 hours after signing up.
What if I fail the questionnaire?
You can retake it immediately. After the second attempt, you must wait 24 hours before trying again.
Upon several failed attempts we won’t be able to offer you an account.
Do these rules apply outside the UK?
No, these requirements only apply to UK customers under FCA regulations.