Have you invested in Contracts For Difference (CFD trading)? If so, you’re certainly not alone.
Thousands of people transferred their pension savings to this type of investment following recommendations from their financial advisor. However, many savers are unaware what CFD trading actually involves, often discovering months or years into the process that such an investment is incredibly high risk and unsuitable for anyone who isn’t a seasoned investor.
In short, CFD trading involves buying derivative products that enable the investor to trade on the market as it happens, without actually owning the products on which the contract is based on. In a way, this means your money is being used to bet on the price of a market commodity.
Investing, by its very nature, involves taking on an element of risk. But, as many of our clients have found, placing their retirement savings in a CFD trading scheme carries far more risk than they were ever prepared for. If your pension savings are tied up in CFD funds through a self-invested personal pension (SIPP), there’s a risk you may have lost a substantial amount of money.
If you’ve been affected by CFD trading or you believe you were mis-sold a pension or investment, please get in touch with the team at Pension Justice. We have extensive experience in fighting for financial redress for those affected by mis-selling.