LONDON (Reuters) - British Brexit minister Dominic Raab’s “thumbs up” after a cabinet meeting on talks with the European Union was all sterling needed to jump nearly half a percent last Tuesday. Britain's Secretary of State for Exiting the European Union Dominic Raab arrives at 10 Downing Street in London, Britain, October 24, 2018. REUTERS/Henry Nicholls A story buried on the 14th page of the Times newspaper at the start of November about Britain and the EU sealing a deal on financial services sent the pound to its biggest one-day rise since mid-2017, despite repeated denials from both sides. With negotiations between London and Brussels for a divorce agreement entering the final stretch, hedge funds have such large bearish bets on sterling that sudden positive news - no matter how incremental - is having a dramatic impact on the currency. That means that big jumps in sterling may reflect investor positions rather than outright confidence of a deal. It … [Read more...] about Hedge funds caught short when Brexit talks surprise
Make money trading binary options
The City watchdog has warned spreadbetting firms against trying to create new products which get around new rules restricting leverage on contracts for difference (CFDs). The Financial Conduct Authority (FCA) said it was concerned firms are using slightly different products to get around new rules limiting leverage for retail clients which were introduced today. If the new products are found to cause similar harm to the high leverage found for CFDs the FCA could work with EU regulators to take further action. The European Securities and Markets Authority (Esma) introduced new limits on the amount of leverage allowed for retail customers of spreadbetting firms in June, following research by the FCA which showed that as many as 80 per cent of customers lost money. Binary options, which allow traders to bet on particular price points, were banned. Spreadbetting firms have been investing in development of new products, including so-called turbo certificates, which allow for highly … [Read more...] about City watchdog warns spreadbetting firms not to try to get around leverage restrictions
0 Have your say Two angry victims of online investment fraud who were conned out of thousands of pounds by unregulated firms, are exasperated that their bank did nothing to warn them their money was at risk. Retired former Gosport businessman, Maurice Plummer, claims he was scammed out of £5,000 after being persuaded to trade in the cryptocurrency Bitcoin.A notorious fake online video featuring the cast of the BBC’s Dragon’s Den promised him a money back guarantee and sky high returns for investing as little as £250.‘I‘d read some glowing reports about Bitcoin investments, said the 54 year loyal Barclays customer, ‘so I searched online and was contacted by a company called Greenfield Capital in Estonia.‘I first suggested investing £500, but was told it wasn’t worth the effort. The broker kept on so much that I agreed to increase the investment to £1,000 maximum.‘He kept phoning for me to invest … [Read more...] about ‘Bitcoin con artists scammed me out of £5,000 – and my bank did nothing’
Lord Sugar has become the latest high-profile business figure to have his name hijacked by crooks plugging supposed Bitcoin investment schemes. The host of The Apprentice has responded in characteristic blunt fashion on Twitter. “Warning: Please ignore an advert from Bitcoin-Trader suggesting I endorse their offerings,” The Apprentice host wrote on Twitter. “They are SCUM it is a total scam. Please pass this on to all your friends particularly the elderly who are falling for this terrible scam.” In another tweet he wrote: "People are asking me if the crooks advertising bitcoins using me in their advert is legit . NO it is not. Do not part with a PENNY with these crooks." I warned last month how Bitcoin-Trader was claiming to have been the biggest investment winner in Dragons' Den history. A fake news site told how Deborah Meaden invested £180 on the show and turned it into £323 in three minutes. She used her website to slate the claims as … [Read more...] about Apprentice host Lord Sugar is furious with Bitcoin scammers
I’ve come across some outlandish claims made by get-rich-quick schemes, but this is something else. “I want you to make hundreds of thousands of pounds in the next 30 days,” says someone using the name Jason Taylor. “If you don’t make it, I’ll pay you £10,000 in cold hard cash right out of my own pocket.” Testimonials include someone claiming to have made £764,000 in 29 days, adding “this is incredible”. Taylor claims: “100% completely free, no catches. “It couldn’t be easier,” he insists. “You’ll just click your mouse a few times then sit back and watch the profits like this flow into your account. When you make money at this rate you will officially be able to call yourself a millionaire in less than a few weeks.” This guff is promoting The Brit Method, software that allows you to carry out binary trading. Trading scheme or scam - the reality of the Brit Method Although sometimes … [Read more...] about The Brit Method says binary trading will make you a millionaire. As if.