Have you lost money as a result of mis-sold CFDs? Have you invested money through PatronFX and were not aware of the high-risk nature of the investment? Find out today if our mis-sold CFD team can help you claim compensation.
Our mis-sold investment team are seeing increasing numbers of individuals who have been badly advised to invest into Contract For Difference trading (CFDs). Many have lost thousands from pensions or investments that they transferred.
A CFD trading platform that Smooth Commercial Law regularly see is PatronFX. If you have been left out of pocket because of this trading platform, our team our mis-sold CFD specialists can potentially help you claim your investment back.
Who are PatronFX?
PatronFX is a trading platform which is operated by Forex TB Limited, a Cyprus Investment Firm, authorised and regulated by the Cyprus Securities and Exchange Commission. The company’s CIF licence number is 272/15.
Their aim is to deliver “an exceptional trading experience while always pushing ourselves forward for our clients”.
They provide specific CFD trading options on over 270 tradable assets, including Apple, Netflix, Disney and Facebook.
Forex TB Limited is registered at Lemesou Avenue 71, 2nd Floor, 2121, Aglantzia, Nicosia, Cyprus.
What is a CFD?
A Contract for Difference (CFD) is a popular yet complex form of trading. It offers traders and investors the opportunity to invest from a price movement in the market, without actually owning the underlying asset.
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 vital 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 PatronFX 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.