Doesnt the FSA think people have enough intelligence to decide for themselves whats appropriate for them?
rew
The simple ( obvious) answer is no. I've been invloved in the financial services business for 11 years I can tell you that the rules are aimed at 2 classes of people.
1. The dimmest most stupid people in our society. These people need protection because they believe the adverts that say you can make ££££'s easily. All FSA rule are aimed at the lowest common denominator.
2. Unscrupulous financial institutions who would happily take class 1 people's cash.
As Gordon Gecko said " a fool his money are lucky to get together in the first place".
Spreadbetting is accepted because it is seen as exactly that betting. Most accounts are opened with less than £1k maybe this is deemed an acceptable amount to lose. CFD's forex however are seen as investing/trading for some reason ( although the underlying is the same or can be) you need to have experience.
Stupid I know but haven't you noticed the increase in red tape over the last 10 years??????
Regards
UNited