Many people have been advised to invest into Contract for Differences (CFDs) and have lost thousands from their savings and pension pot. If you have been mis-sold a CFD investment, our team can help you claim some, if not all, of your money back.
Mis-sold CFDs can lose investors significant sums of money. Many of the investors that do lose their investment have invested their pension after being advised to do so from a independent financial advisor.
Smooth Commercial Law are seeing an increase in cases of mis-sold CFDs. One trading platform that continually crops up is Forex TB. If you have lost thousands because of this particular trading platform, our mis-sold CFD specialists can potentially help you claim your investment back.
Who are ForexTB Limited?
ForexTB is a Cyprus-based broker offering online trading through CFDs. They state that they “want to deliver the best possible trading experience” through their WebTrader.
ForexTB is operated by Forex TB Ltd, a Cypriot investment firm licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC). The company’s CIF licence number is 272/15. Forex TB Limited is located at Lemesou Avenue 71, 2nd Floor 2121 Aglantzia, Nicosia, Cyprus.
The company offers multi-device trading, from any type of device.
What is a CFD?
A Contract for Difference (CFD) is a popular yet complex form of trading. It offers traders and investors the chance to invest from a price movement in the market, without actually owning the underlying asset they are investing in.
A CFD investor will trade on the market as it happens, but unlike many investments, they will not have ownership of the product which the investment is for. This is a crucial difference, compared to investing in normal stocks and shares.
CFD funds can be invested in a number of ways. Investors can use a CFD provider directly, or they can invest their funds through their pension pot, such as a self-invested personal pension (SIPP).
How might I have been mis-sold?
CFDs are highly risky, complex financial products that are only suitable for experience investors. Investors do not own any assets when trading CFDs, meaning it is like a bet.
It is estimated that between 75%-80% of retail customers who trade CFDs lose money. This is compounded by the fact that many retail customers are inexperienced investors who have been convinced by their financial adviser to invest through their SIPP.
This mis-sold SIPP is often gambling entire retirement savings in a volatile and highly risky market. Financial advisors may also be working on commission to transfer funds from pension pots.
You may have been mis-sold a CFD investment if:
- You were cold-called by an IFA or pressured to invest
- You weren’t told about the risks of the investment
- You were advised to invest in an unsuitable fund
- You have made significant losses as a result of investing in CFD Trading
If any of the above applies to you, we would advise getting in touch as soon as possible.
How can Smooth Commercial Law help?
Have you lost significant sums of money through CFD trading? Have you invested some or all of your pension pot into CFD and have been left out of pocket? Let our mis-sold CFD team help you.
At Smooth Commercial Law, our team of experts have extensive experience in dealing with a whole manner of claims that arise from negligent and/or unsuitable financial advice. We are seeing an increase in claims for mis-sold pensions and SIPPs, and have managed to secure compensation for many of our clients.
Should you have a claim against Forex TB Limited or your financial advisor for negligent financial advice, we can deal with your case and look to recover compensation for not just your loss of investment but also any adverse tax liabilities that you may now be facing as well.