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Joshua, Lawyer
Category: Law
Satisfied Customers: 26070
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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My Sister and I both lost all our money when we invested in

Customer Question

My Sister and I both lost all our money when we invested in High Frequency trading with an USA fompany through a broker in London. We did not know at the time that the Company was not regulated nopr was it supposed to be selling or dealing with British Nationals. We have contacted the Financial Ombuidsman who said that he invested Our case and could not help Us but that we should contact the FCA who replied to us saying that they could not help us as the Companies responsible were not on their List. I find this curious and thought that the FCA dealt with everyone. How can I take steps to regain my Money. The reasons given for the losses is that it was due to the current market rends at the time, but we were told that the reason was that the Financial Manager had placed the incorrect algorithmns inot the Computer and wehn he reqlised his mistakte he tried to correct these by carring out the trades manually. He then notified us at 5.30pm on a friday (weekend) of this outcome. Please help Us.
Submitted: 2 years ago.
Category: Law
Expert:  Joshua replied 2 years ago.
Joshua :

Hello and thank you for your question. I will be very pleased to assist you. I'm a practising lawyer in England with over 10 years experience.

Joshua :

May I ask if you have evidence in respect of what you say regarding the broker's mistakes please?

Joshua :

Does the broker work for a company or is he a sole trader?

Customer: replied 2 years ago.

Thank you but we have now decided not to proceed with any legal action as the Financial Ombudsman has now come back to us and said that he will be reviewing our case as others have now come forward making the same claims.



Expert:  Joshua replied 2 years ago.
I am glad that you have received a positivie revised response from the FO. If I can assist any further as the matter develops please do not hesitate to revert to me. With best wishes