UK regulator upholds complaint against Learn to Trade Ltd over misleading FX advertising

Maria Nikolova

The ASA ruled that the claim “learn how to make £3.5 million over the next 15 years” was misleading, exaggerated and unsubstantiated.

After ruling that an FxPro UK TV advertisement breached the Social Responsibility rules, the UK Advertising Standards Authority (ASA) has set its sights again on Forex advertising, this time – on a juicy advertisement for a Forex seminar.

Today, the ASA said it upheld a complaint against Learn to Trade Ltd, ruling that the claims in one of its ads for a Forex seminar were misleading, unsubstantiated and exaggerated.

The ad in question represents a Facebook post for Learn to Trade Ltd, seen on November 22, 2016. The ad stated “Discover how to get your share of the largest and most liquid market in the World. Join us for an educational FREE Forex Seminar Limited seats- Book Now! Learn the Secrets of Successful Professional Trading. Learn the power of compounding or how to make £3.5 million over the next 15 years…”.

The complainant questioned the claim “learn how to make £3.5 million over the next 15 years”.

Learn to Trade Ltd responded that 25% of their clients had a starting balance of at least £20,000 in their trading account and they taught their clients to risk only 2% of their account size on any single trade. The company explained that when starting with a £20,000 trading account, they assumed a 3% growth per month and that this would end the 15 years on £4,090,067. Learn to Trade Ltd added that they only advertised £3.5 million on the basis that not all trades were taken and to allow for a 15% margin of error.

The ASA upheld the complaint as it considered that consumers would understand the claim “learn how to make £3.5 million over the next 15 years” to mean that the advice and guidance on investment learned at the seminar would enable them to achieve very large sums of money, such as £3.5 million, over a long timescale like 15 years, by trading on the Forex market.

The ASA noted that the advertiser omitted the information about the starting balance of £20,000 and the assumed monthly growth rate of 3%. The body also took into account the lack of evidence to show that Learn to Trade Ltd’s teaching methods were proven or successful and had achieved sums such as £3.5 million over 15 years.

The ASA has ruled that the ad must not appear in its current form. Learn to Trade Ltd was told not to repeat the claim “learn how to make £3.5 million over the next 15 years” unless having serious evidence to show that their teaching methods were proven.

Read this next


Is the Bank of England facing another storm? Op-Ed by Stuart Cole, macro economist at Equiti Capital

An analysis and opinion editorial by Stuart Cole, macro economist at Equiti Capital, 3 October 2022 on what triggered the UK gilt market sell-off and is the Bank of England facing another storm?

Industry News

Kim Kardashian fined $1 million for touting EMAX tokens on social media

“Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.”

Retail FX

INFINOX launches IX Exchange platform with +20,000 markets in UK

“The launch of IX Exchange is a statement of intent for our growth strategy and a game-changer for our clients’ trading potential.”

Retail FX

Saxo issues gloomy report for Q4 2022 and beyond

Globalisation was the biggest driver behind low inflation over the past 30 years and instrumental for emerging markets and their equity markets. Globalisation in reverse will cause turmoil for trade surplus countries, put upward pressure on inflation and threaten the USD as the reserve currency.

Executive Moves

ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Retail FX

Plus500 sponsors Chicago Bulls ahead of trading platform launch in United States

Plus500 has signed a major multi-year sponsorship deal to become an official global partner of iconic NBA team Chicago Bulls. 

Technology adds stock options APIs to market data platform that includes FX and Crypto has launched a new set of stock options APIs to its entirely self-serve real-time data APIs, which includes stocks, crypto, forex, and options APIs free to use.

Market News

What’s in store for markets this week!

After The UK government unveiled their top tax rate cut, setting fire to GBP Cross pairs, prompting an intensive sell-off on the cable


FinanceFeeds Podcast Ep. #7: Exness’s Elena Krutova shares how to recruit the best talent in FX

FinanceFeeds is delighted to announce the release of the FinanceFeeds Podcast’s seventh episode featuring Elena Krutova, Chief People Officer of Exness, the renowned FX and CFD broker headquartered in Cyprus.