Pretty shocking story, a regulated financial advisor blew £75,000 of a pensioner’s savings betting on CFDs. The warning signs were there -
claims the company was able to profit on three quarters of the trades it made for its clients, who were told they could expect returns of up to 30pc each year.
but I guess a lot of people who’re less experienced won’t know that, that’s a red flag.
Obviously the FCA can’t keep track of every firm and it makes me wonder how common this sort of thing is
paywall but you can read 1 story a week if you register for an account