Showing posts from February, 2020

Proof of the various ways CFD providers will rip you off

Summary : - Contracts For Difference (CFDs) are derivatives that allow people to make highly leveraged bets on the change (up or down) in the value of an underlying asset - shares, indices, commodities, and currencies all over the world. Over 170,000 Australians are clients and over 70% lose money trading CFDs. ASIC is finally proposing to reduce the harm of CFDs but its regulations don't go far enough. Legal ripoffs, rigged systems, and unfair practices will continue to exist; I provide proof below. - Avoid using CFDs and Binary Options. If in the 5% of investors genuinely sophisticated enough to need them, do your research on the potential ripoffs, costs and risks before you trade and act accordingly (e.g. don't assume fairness, assume complete unfairness and protect yourself proactively.)