Have you lost money investing throughout Fortrade Platform?

Fortrade Ltd is an online trading platform that allows investors to invest in Contract For Differences (CFDs).

Fortrade only offers ‘execution only’ accounts, which means they should not provide clients with any advice. CFDs are considered complex investments and unsuitable for the vast majority of retail investors.

Have you lost money with Fortrade?

Fortrade Ltd is an online trading platform to invest in Contract For Differences (CFDs).

What has Fortrade done wrong?

The Financial Ombudsman Service (FOS) have ruled in favour of several consumers who have lost money while trading with Fortrade.

FOS have concluded that Fortrade failed to carry out appropriate checks and provide appropriate warnings to prospective clients.

FOS have also found evidence that Fortrade have gone beyond its authority by providing financial advice in execution only accounts. This advice may include information involving ‘forecasts’, ‘investment strategies‘, ‘analysis and expectations’ or ‘inside information.’ Under regulatory guidelines, this may be considered financial advice.

There are also cases where FOS has ordered Fortrade to refund clients when clients have borrowed money to keep the position open or open new position with the hope to recover previous losses.

How can I know if I have a claim against Fortrade?

If Fortrade contacted you unsolicited and repeatedly to discuss your account and you have lost money, you may qualify for compensation.

FOS have already found in favour of many clients and ordered Fortrade to refund them.

If you have lost money while trading with Fortrade, please feel free to contact us for an initial review.

Further reading

CFD Trading – Oakwood Solicitors

Financial Ombudsman Service – Homepage

WHAT TO DO NEXT

Get in touch today for a no-obligation consultation. Choose one of the methods on the right-hand side of this page, or call us on 0113 200 9720 to find out how we can help you. We have already assisted other investors in recovering their losses.

You must be aware that when dealing with a firm regulated by the Financial Conduct Authority, you have a right to complain to the company if something goes wrong. If your complaint is not upheld, you can ask FOS to consider the complaint and issue a decision.

The Financial Ombudsman Service is a free service that looks at disputes between consumers and regulated firms. You do not need a legal representative to make a complaint.