FCA to warn younger investors off cryptos and other high-risk products
by Rupert Jones from Technology | The Guardian on (#5QXAC)
Hype and the thrill of gambling are pushing inexperienced people into danger, says City watchdog
Social media hype and the gambling-like thrill of competing to get rich quick are driving younger investors to turn to cryptocurrencies, foreign exchange trading and other high-risk products, according to the City watchdog.
The Financial Conduct Authority said it was seeing more people chasing high returns and was concerned that many new investors were increasingly putting money into high-risk investments which may not be right for them.
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