UK Broker Denies Liability In Trader's £3.7M Oil Bets Claim

By Joanne Faulkner (September 13, 2021, 5:11 PM BST) -- A financial broker is fighting a customer's claim for £3.7 million ($5.1 million) after U.S. oil prices plummeted, telling a London court that he had confirmed that he had substantial previous trading experience when setting up his account.

Robert Day, managing director of a logistics company, has told the High Court that he is owed millions in lost profits and sunken deposit from Forex Capital Markets Ltd., complaining the broker breached regulatory guidelines by allowing him to enter in risky transactions.

But Forex Capital said in a Sept. 2 defense that the information it requested from Day when setting up his...

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