'We lost everything gambling on shares'

masonic

CFD and spreadbetting accounts that operate on a margin are becoming quite popular and certainly are widely available to clients. Like all investment accounts, these are fine to use if used responsibly, but again, like all investment accounts, those who do not understand what they are doing should not use them.

broke4good

(3) A financial instrument is non-complex if it satisfies the following criteria:
(c) it does not involve any actual or potential liability for the client that exceeds the cost of acquiring the instrument;

COBS 10.2.1
01/04/2013
(1) When providing a service to which this chapter applies, a firm must ask the client to provide information regarding his knowledge and experience in the investment field relevant to the specific type of product or service offered or demanded so as to enable the firm to assess whether the service or product envisaged is appropriate for the client.
(2) When assessing appropriateness, a firm:
(a) must determine whether the client has the necessary experience and knowledge in order to understand the risks involved in relation to the product or service offered or demanded;

COBS 4.5.2
A firm must ensure that information:
(4) does not disguise, diminish or obscure important items, statements or warnings

Luz

masonic wrote: »

If I'm reading your incoherent ramblings correctly, then yes, leaving you to carry on posting your nonsense is pretty much guaranteed to make anyone who reads this thread side with them.[/QU

Nobody asks for you to side or agree with them simple, anyone in the same business got upset,as the FCA took a tough approach regarding regulatory system ......corrupting the adjudicator,well at some point he will corrupt himself against them,as what goes around comes around .Nothing to worry there .

Most man would rather deny a hard truth ,than face it .

Quote . George .R.R Martin.A game of thrones .

masonic

Yes, rules have now been put in place in order to try to protect some people from themselves. That doesn't absolve people from responsibility for their own actions.

I recently had to certify myself as a sophisticated investor in order to get access to complex instruments on a platform. This involved reading some competency statements and ticking some boxes to confirm which applied to me. I did so to access one thing in particular, but I now have access to some other things I don't understand, which, if I was incredibly foolish, I could start using and risk gambling away my life savings. However, unlike some others, if I did that, I would take responsibility for my own actions.

Luz

masonic wrote: »

Yes, rules have now been put in place in order to try to protect some people from themselves. That doesn't absolve people from responsibility for their own actions.

I recently had to certify myself as a sophisticated investor in order to get access to complex instruments on a platform. This involved reading some competency statements and ticking some boxes to confirm which applied to me. I did so to access one thing in particular, but I now have access to some other things I don't understand, which, if I was incredibly foolish, I could start using and risk gambling away my life savings. However, unlike some others, if I did that, I would take responsibility for my own actions.

Market abuse is being tackled. A simple share deal account ,has nothing to worry you about ,you deposit cash you buy the shares simple .And one of them did not even signed for this share deal account, has it was open by the broker over the phone .

Luz

Luz wrote: »

Market abuse is being tackled. A simple share deal account ,has nothing to worry you about ,you deposit cash you buy the shares simple .And one of them did not even signed for this share deal account, has it was open by the broker over the phone .[/QUOTETthe .


You only corrupt peoples to cover up crime ...

Luz

colsten wrote: »

Who is Mr Atkins ?

Anything to do with the Atkins diet?

The corrupted adjudicator ,who took the case ,and now works at Barclay's wealth on a Senior job ...

masonic

Luz wrote: »

Market abuse is being tackled. A simple share deal account ,has nothing to worry you about ,you deposit cash you buy the shares simple .And one of them did not even signed for this share deal account, has it was open by the broker over the phone .

We are not talking about a "simple share deal account", but it is possible to lose everything even using one of those if you behave like a compulsive gambler.

When you take the decision to become a DIY investor, you take the responsibility for making sure you understand what you are doing. If you fail to take that responsibility, ultimately you only have yourself to blame.

atush

Please dont feed the troll

Gadfium

ffacoffipawb wrote: »

No, just a c0ckwomble.

Now there's a word that I vow to use at least once today!