Forex Robots, forex system sellers and all the other trading system retailers could now be held to count over what and how they advertise their trading systems in the UK.
“From 1 March, consumers are being invited to make official objections about indecent or misleading information on the internet.
They will be able to complain to the Advertising Standards Authority (ASA), which is taking on new powers to regulate commercial websites”
This is not something to take lightly. For a long time now new traders are being scammed or at best misled about a trading system or forex service.
Quite often it is not a case that the trading system is not a good concept or even profitable but it is manner in which they are sold. Forex Pecker which we recently reviewed, claims to be the ‘holy grail’. We know it is not as there is no such thing in trading but there is nothing to prevent them from making such a claim.
But now we will be abel to report such sites and they will be admissible.
“Last year 2,500 people complained about website content, but under the old rules their objections were not admissible”.
However, we have to be realistic. With 1000s of sites are they going to be worried about little forex sites or the big corporate entities ‘showing a bit too much flesh’ in a campaign. Also how are they going to resitrict a website based on UK rules which shows content worldwide? How are they going enforce their decisions?
Whether or not is has a major impact on these scam sellers it will help keep the pressure on them. Eventually, there will be powers to stop them.
“The principle that ads have to be legal, decent, honest and truthful is now going to extend to companies’ claims on their own websites,” said Matt Wilson, of the ASA.”
In the opinion of myself and GreatTradingSystems.com it is a pretty good principle to have.