Mis-sold Contracts for Difference (CFDs) 

What is Contracts for Difference (CFDs)? 

CFDs are derivatives that allow investors to speculate on the value of an asset (such as shares or currency prices) without ever owning the commodity. CFDs are highly risky, complex financial products that are often used to speculate on markets. This risk is exacerbated by the fact that CFDs are often highly leveraged, resulting in many retail customers losing significantly more than their original investment as losses can be greatly magnified.

 

Worryingly in several instances, pension funds have been invested in CFDs based on the bad advice of marketing companies or financial advisers through Self-Invested Personal Pensions (SIPPs). Mis-sold SIPPs gamble entire retirement savings in volatile and risky markets instead of investing in regulated and secure asset classes.

You may be eligible to make a claim for compensation if:

 

  • You were wrongly advised about your investment options or the advice given by your financial adviser was unsuitable, unreliable or negligent and has resulted in financial loss

 

  • You were encouraged by pressure sales to transfer your pension savings into a CFDs investment that was not right for your circumstances and did not match your individual needs

 

  • You were advised to invest in CFDs (leverage, high-risk investments products) that you did not understan

 

  • The potential risks and downsides of your investments were not fully and properly explained to you by your financial adviser or you were not made aware that you could lose significantly more than your original investment as losses can be greatly magnified

  • You did not have all the necessary information you needed from your financial adviser to help you make a fully informed decision

 

  • You were unaware of additional costs and unexplained fees attached to your investments because they were not fully explained to you and that there was a lack of transparency.

 

  • You were promised guaranteed high returns that never materialised

You are not required to use the services of a Claims Management Company to pursue your claim; as you could present your claim yourself for free to the Financial Advisory firm. If your complaint is not successful you can refer it to the Financial Ombudsman Service (FOS) or to The Financial Services Compensation Scheme (FSCS) if the Financial Advisory firm is no longer in business.

Palmira Capital Limited registered office:  Whins Lodge, Whalley Old Road, Langho, Lancashire, BB6 8DU, UK. Registered in England company number 11357812. Palmira Capital Limited is authorised and regulated by the Financial Conduct Authority (see the FCA register at www.fca.org.uk/register/ reference: 838259

Palmira Capital Limited is registered with the Information Commissioner (ICO) Registration: ZA474904