Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.
At CMC Markets, we want to understand the needs of vulnerable customers and make sure that they are treated fairly. But what is a vulnerable customer, and what factors can lead to vulnerability? This page explores the key issues and looks at the steps we’re taking to support vulnerable customers.
A vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm. Vulnerability – perhaps as a result of a major life event or other contributing factor(s) – could affect your mental, physical or financial health, potentially harming your ability to make sound decisions or carry out everyday tasks.
The causes of vulnerability could affect anyone, at any time. This means we’re all at risk of becoming vulnerable. Vulnerability is therefore best viewed as a spectrum, ranging from those at greater risk to those at lesser risk.
A person could become vulnerable for various reasons. Four of the main causes of vulnerability are:
Health: Common illnesses, serious health conditions, addictions (for instance, to gambling), and other compulsive behaviours.
Life events: Stressful experiences such as a bereavement, job loss, or the breakdown of a relationship.
Resilience: Low ability to withstand financial or emotional shocks.
Capability: Low knowledge of financial matters, low confidence in managing money, or low capability in areas such as literacy, numeracy or computer skills.
Of course, it’s not the case that all customers in one or more of the above circumstances will experience harm. The point is that they may be more likely to have additional or different needs, and may therefore require a different level of care from us.
If you feel that you may be vulnerable, or at risk of becoming vulnerable, it’s important that you let us know by contacting our customer service team using one of the methods below. A member of our highly skilled team, all of whom have been trained to recognise and respond to the needs of vulnerable customers, will be able to provide you with the right support. Any information you share will be treated confidentially.
You can contact us whenever the markets are open, from Sunday night through to Friday night:
We are committed to delivering good outcomes for all our customers, including those who may be vulnerable. This means we may take steps to monitor and support customers who have demonstrated characteristics of vulnerability.
Every customer’s personal circumstances are unique, so we review all instances of potential vulnerability on a case-by-case basis. In some cases, we may take appropriate steps to adjust and tailor our communications to support a vulnerable customer.
The products we offer are complex and high-risk. Therefore, in certain instances and in accordance with our terms of business and related documents, we may restrict or close customer accounts temporarily or permanently if we determine that a customer is particularly susceptible to harm. Our guiding principle in such cases is always to act in the vulnerable customer’s best interests.
If you or someone you know could be affected by any of the issues discussed on this page, the following resources might be helpful:
Action on Hearing Loss
Age UK
Alzheimer’s Society
BeGambleAware
Citizens Advice
Mind
Royal National Institute of Blind People (RNIB)
Samaritans
StepChange
