Hello, not sure if this site can help me with this CFD trading issue.
I recently signed up to a CFD (Contract for Differences) trading platform. They offer incentives if you transfer money into your real (Live) trading account. They were offering £1200 for adding £7500 so I added £15000 hoping to get double (I know). In the end I received only the £1200 and that was still great ... but ... what happened next is I automatically continued trading in Oil using what I thought was my demo account. What I didn't realize is that I was using my 'real' trading account which looks identical in coloring and layout. There are only a few small differences. As I had been trading for months in my demo account I was so used to doing that and not using real money that I was happy to let the trade run. The other issue was when I switched between accounts my demo account had a £15k balance still showing and I therefore thought my real money was still in my account and safe. Long story short, I ended up losing £13k. When I contacted the company and told them they said it was my fault and I could not get my money back. I am writing this here in case there is any consumer/trading law which will help argue that because the trading accounts are identical it was/is very easy to accidentally trade using the wrong account!
Any thoughts? I know I should have avoided it altogether but hoping there is a legal loophole to help me get out of this unwanted loss.
I recently signed up to a CFD (Contract for Differences) trading platform. They offer incentives if you transfer money into your real (Live) trading account. They were offering £1200 for adding £7500 so I added £15000 hoping to get double (I know). In the end I received only the £1200 and that was still great ... but ... what happened next is I automatically continued trading in Oil using what I thought was my demo account. What I didn't realize is that I was using my 'real' trading account which looks identical in coloring and layout. There are only a few small differences. As I had been trading for months in my demo account I was so used to doing that and not using real money that I was happy to let the trade run. The other issue was when I switched between accounts my demo account had a £15k balance still showing and I therefore thought my real money was still in my account and safe. Long story short, I ended up losing £13k. When I contacted the company and told them they said it was my fault and I could not get my money back. I am writing this here in case there is any consumer/trading law which will help argue that because the trading accounts are identical it was/is very easy to accidentally trade using the wrong account!
Any thoughts? I know I should have avoided it altogether but hoping there is a legal loophole to help me get out of this unwanted loss.
CFD Trading Loss Issue
