World Spreads and the Financial Services Compensation Scheme (FSCS)

Today I was pleased to receive an email from the Financial Services Compensation Scheme (FSCS) with a claim form attached. If you’ve not received yours by 6 July, and if you are owed less than £50,000 by the spread betting company formerly known as World Spreads (or one of its former “white label” brands like Ladbrokes), then I understand you should call the FSCS as explained here.

Stay tuned to find out when I actually get the money.

The morals of the World Spreads story are that a) your money is safe with a spread betting company if you are “retail” client with less than £50,000 deposited, and b) in any case you might think about spreading your risk across a few — but not too many — of the spread betting companies.

Disclaimer: this posting is for general education only; it is not trading advice.