Trader333 said:
As far as i know, spreadbetting isn't regarded as an investment by the law, hence the no tax to pay, it is regarded as gambling, so how can a bookie offer investment advice for gambling,
Does the law regard derivatives gambling as an investment?
It's illegal unless the person giving advice is authorised by the FSA to do so and the firm has Chinese walls to insulate the advisor from any knowledge of the company position. In practice none of them do.
However, it is possible for a UK regulated third party to offer advice on a spreadbet and receive a kickback from the spreadbetting company as they are not profitting from any position run against their clients.
However, it is possible for a UK regulated third party to offer advice on a spreadbet and receive a kickback from the spreadbetting company as they are not profitting from any position run against their clients.
I lost my life savings (net worth) with ODL securities and Frank Freeman on an advisory basis in 5 months. I invested £71,500 and was left with just £900. I was commissioned over £32,400.
The case has now gone to the Ombudsman for arbitration.
If you want to know more email on: [email protected]
The case has now gone to the Ombudsman for arbitration.
If you want to know more email on: [email protected]
