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CFD firms whacked as Britain's FCA follows European lead and clamps down

By Tom Winnifrith, The Sheriff of AIM | Tuesday 6 December 2016


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


I do not use CFD's. They seem like a mugs game and indeed research by the FCA shows that 82% of clients of the big providers lose money. But then most folks lose on the horses or on betting on football so why target CFDs? It is all driven by MiFD2. We saw this take shape in Cyprus last week although Plus500 denied that it would be affected in a pathetic rebuttal to my scoop. That rebuttal was bollocks and Plus shares are among the big fallers today as the FCA has weighed in with a series of measures.


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