If found this explanation on Etrade's Website: Nonprofessional and Professional Subscribers According to the New York Stock Exchange, Nasdaq, and the American Stock Exchange: a "Nonprofessional Subscriber" means any natural person whom a broker or dealer has determined to qualify as a "Nonprofessional Subscriber" and who is not: 1)registered or qualified with the Securities and Exchange Commission (the "SEC"), the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association. 2)engaged as an "investment advisor" as that term is defined in Section 202 (11) (a) of the Investment Adviser's Act of 1940 (whether or not registered or qualified under that Act), 3)nor employed by a bank or other organization and/or state securities laws to perform functions that would require him or her to be so registered or qualified if he or she were to perform such functions for an organization not so exempt.