Make a claim
What is CFD Trading?
CFD stands for Contract For Differences and they are a form of derivative trading. CFD trading is extremely complex and high-risk. It is not suitable for everyday retail investors.
What is a CFD?
CFD trading is typically a short term agreement where you invest in the value of a particular asset. In an ideal world you would make an investment into an asset, it would increase in value and you would then sell, walking away with a profit. A return on your investment is dependent on the asset increasing in value.
It should also be noted with a CFD that an investor never actually owns the asset, you are in essence betting on its value increasing. CFD trades are available on thousands of products including shares, indices, currencies, commodities, interest rates and bonds.
What are the problems with CFDs?
Due to their complex and high-risk nature, CFDs should only be offered to sophisticated investors and those who can afford to lose their investment. The FCA is addressing concerns about the risks associated with CFDs and the poor conduct of the firms selling them. Thousands of individuals have been exposed to significant losses when trading in CFDs.
76% of retail customers who bought CFD products on either an advisory or discretionary basis lost money over the twelve-month period being reviewed by the FCA.
What is the FCA proposing?
The FCA is proposing rules to address harm to retail consumers from the sale of complex derivative products.
The rules would apply to firms acting in or from the UK and will:
The FCA estimates that the above proposals to restrict the trading of CFDs could reduce annual losses for retail consumers of UK firms by between £267.4m to £450.7m.[ii]
The FCA has said it wants to ensure that firms:
Read the full ‘Dear CEO’ letter by the FCA to CFD providers by clicking on the FCA logo:
How do you know if you have been mis-sold or have received negligent advice?
Here are a few key indicators that you may have a claim:
If you answered ‘yes’ to any of the above, you may potentially have a claim.
What should I do if I think I have been mis-sold?
Contact Oakwood Solicitors free of charge to find out if you are entitled to compensation on a ‘no-win, no-fee’ basis. We have helped clients to recover tens of thousands of pounds in compensation and may be able to help you too.
How much will it cost you to make a claim?
We will undertake a free investigation into your investment and advice you on whether you have a claim.
How much compensation will I receive?
We cannot provide an exact figure until we have completed our investigation, as your loss will be dependent on the amount invested and the nature of the investment.
Why should I choose Oakwood Solicitors?
You will have a dedicated adviser who will see your claim through from start to finish, assisting you in the event of any queries or issues you may have. Your case-handler will also continue to provide regular updates until the conclusion of your claim, ensuring the process is as stress-free and effortless as possible.
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