Ouch.
Shares in spread-betters have tanked after the Financial Conduct Authority announced a comprehensive series of proposals to tighten up on a business that it says is poorly understood by clients. Over 80 per cent of customers lose money on these financial-market bets, the FCA said.
At pixel time:
- CMC Markets shares are down by over 30 per cent to 128.4p.
- Shares in IG Group are down 22 per cent to 611p.
- Plus 500 shares are down 29 per cent to 348p.
Listed in February, CMC Markets was founded by City financier and Brexit campaigner Peter Cruddas.
