As we reported recently, the amount of financial and investment scams present across the globe is staggering, with Australian authorities reporting that its citizens lost $48M to financial schemes in 2018. Now the FCA and dutch regulator, AFM have already reported alarming figures.
According to the FCA, UK investors lost over £197 in just 2018 alone. This is a huge amount considering the population and represents an average loss of £29,000 per person. Meanwhile in the Netherlands, the AFM has reported that it received 2,752 signals (most likely complaints) about wrongdoing in the financial sector only in the first half of 2019. The bulk of the notifications from investors concerned Forex and cryptocurrencies.
This is another example of the dangers traders and investors face when navigating the Internet in search of the best opportunity to trade and invest.
We once again advise everyone who is seeking to trade or invest funds in Forex and CFD markets to be diligent in checking the company or broker with whom you wish to trade. The Financial Commission provides the ‘Check Your Broker’ directory and Warning List to easily check the status of a broker.