Complaints to the Financial Ombudsman Service about spread betting have nearly tripled over the past three years and there are growing fears that inexperienced traders are becoming hooked without fully understanding the dangers.
“While many years ago, the standard spread better would have been in their mid-forties with experience in trading physical shares, we are now attracting clients from a much broader base of occupations when formerly, the majority would have had an active interest in the City,” says Joshua Raymond, market strategist at City Index.
