Waiting for World Spreads

Jump straight to the book on Amazon, or…

Yesterday I heard from the administrators of the collapsed spread betting firm World Spreads that a payout from the Financial Services Compensation Scheme (FSCS) is likely to occur before the proposed “interim distribution to creditors” that is estimated to take place in September.

At the time of writing, I am confident that the FSCS will make good my (and maybe your) loss from the World Spreads collapse, but this experience underlines the importance of spreading your risk by running accounts with several of the spread betting companies.

Update 23 June 2012: I’ve now heard that the FSCS will be emailing application forms for compensation to WorldSpreads clients by the end of June