8% ISA with London Capital and Finance PLC

Ja_n

Saw this today and wondered about it as it says - Please note that the products are not authorised by the Financial Conduct Authority and not protected by the Financial Services Compensation Scheme. has anyone else seen it?

MK62

I'd be very careful if I were you.....

The key is "unregulated" and "not protected"......

ColdIron

It comes up depressingly often here. It's an investment product, not a cash deposit account if that's what you thought it was. As it is not protected by the FSCS there is the potential for 100% loss of capital. Up to you

dunstonh

has anyone else seen it?

Yes. Usually mentioned on this site once or twice a week and the answer is no different each time.

It is an unregulated high risk investment with no FSCS protection. It isnt even a retail investment product. It has 100% loss potential.

It is what it is meant to be but because LC&F pay commission to referrers, you tend to find dodgy sites promote it as a savings account.

You are only likely to come across on dodgy websites.

Lungboy

dunstonh wrote: »

You are only likely to come across on dodgy websites.

I've seen it advertised on Facebook not too long ago.

dunstonh

Lungboy wrote: »

I've seen it advertised on Facebook not too long ago.

Case proven

AnotherJoe

Lungboy wrote: »

I've seen it advertised on Facebook not too long ago.

Facebook also host complete and utter scam adverts that make this one look like a paragon of financial certitude.



Wake up.

Lungboy

Oh I'm fully aware of that, I was just pointing out that LC&F advertise on a decidedly mainstream social media platform, which could be why unsuspecting people keep running into them and then posting here. I wasn't meaning to suggest that they were legitimate because they advertise on Facebook, that would be daft.

jimjames

Lungboy wrote: »

I've seen it advertised on Facebook not too long ago.

I think I've now been blocked from commenting on these products. I take that as a success but it's also sad that they feel the need to hide from facts about what they're offering

jimjames

Lungboy wrote: »

Oh I'm fully aware of that, I was just pointing out that LC&F advertise on a decidedly mainstream social media platform, which could be why unsuspecting people keep running into them and then posting here. I wasn't meaning to suggest that they were legitimate because they advertise on Facebook, that would be daft.

I'd certainly recommend anyone who views the adverts on Facebook to report them to ASA. If enough people do so then they may finally take some action. This post is yet another example of people seeing adverts that are unsuitable for savers with no intention of investing

Alexland

Given they are required to market these products to only sophisticated investors I struggle to understand how they get away with the methods they are using.