Following EUR/CHF outrage (the Swiss franc soared against the euro on 15 January 2015 after SNB abandoned its three-year old cap at 1.20 Swiss francs per euro) and how some financial spread betting companies have handled the losing trades, a petition has been launched on change.org for FCA to investigate the misleading business practices of the providers.
The petition is concentrates on the fact that spread betting companies offer high leverage with potentially unlimited liabilities without any credit checks and risk warning. It has to be noted that for some reason this petition doesn’t concern CFD or forex brokers, where the same rules and regulations apply (particularly, in the UK).
At the time of this post, the petition had only 230 supporters, so if you think that spread betting operators didn’t give enough warnings or treated you unfairly then sign the petition.
Some of the forum posts from the internet: