Punters are hard to put off, it seems.
Online trader CMC Markets reports today that its number of spread-betting clients has continued to rise. That’s despite a crack-down on the industry from regulators in the UK and Europe, with the UK’s Financial Conduct Authority calculating that some 80 per cent of spread betters make more loss than profit.
In its brief trading update, CMC did not give any details on client numbers, but it said revenue has been “modestly higher” in the second half of its financial year.
It noted that the FCA’s consultation into spread betting closed earlier this month, “and CMC made an extensive and thorough submission”.
Results for the year ending in March are due out in June.