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29th May
2009
written by spread bettor

Because you won’t see the money…
I opened an account with them called them twice to confirm that my account is qualified to the cash back offer and twice I’ve been told I was.

So I put money and did one trade with this offer in mind. I would never else open a position on the DAX with just 25 points stop loss. Because it was more like a bet than a trade I lost which is fine.

I called worldspreads, the company that you always talk with the same person, and asked my cash back. They say no problem but nothing happened. I’ve waited 3 days to call them again and they promised me that it will be sorted on the same day. Nothing happened again. I waited 3 more days and called them today.

And their answer:
Due to the terms and condition you are not qualified to this offer. Good bye.

But I had enough. I wrote a long letter to the FSA the financial authority that should govern these companies and copied the Guardian and the Independent newspapers. And now you know about it too:
Don’t open an account with Worldspreads because there is a good chance you won’t see you money back. And also they have one of the worst platform out there.

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2 Comments

  1. Byron
    01/06/2011

    Hi

    Did you ever get a response from worldspreads or the FSA?

  2. spread bettor
    06/06/2011

    No, I didn’t… but at the end of 2010 the did 100k GBP competition and the pot was split between 182 winners. As I was one of them I can confirm that I received the money from them… can’t confirm if 182 winners figure is correct.

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