ASA says fx ad breaches Code

The ASA has found a TV advertisement for online CFD trading breached the BCAP Code in respect of social responsibility. The advert showed a young adult waking up and looking at his tablet which showed a falling exchange rate and a voice-over stating the young man was a risk seeker. It then showed him checking his investment throughout the day at college, commenting on the risks and the thrills of trading. The ASA held that, although the ad was shown on a specialist financial channel and contained a risk warning about the significant risk of loss in trading CFDs throughout the ad, and a more detailed risk warning at the end, it would nevertheless appeal to young adults who were less sophisticated and created a strong impression that the rights were heavily outweighed by the potential benefits of trading, it was socially irresponsible.