The City watchdog “Financial Conduct Authority (FCA)” clamped down on spread betters; wiping £1bn off their stock market value.
“There are approx. 100 CFD providers in the UK and have come under the FCA microscope,” says Matt Brown, Independent Market Strategist.
The Financial Conduct Authority said it was concerned about people opening online accounts with spread-betting providers without understanding the products they were trading.
Watch the full segment to know if the FCA clampdown is draconian or a necessary steps and what kind of ramifications it would have on spread betters and retail trading community.
The segment is hosted by Tip TV’s Zak Mir and Alessio Rastani from LeadingTrader.com.