FCA keeps watch on trading apps over gamification concerns

The UK financial regulator says push notifications and prize draws encouraging riskier trading

Close-up of hands of businesswoman on trading apps
(Image credit: Getty Images)

The UK financial regulator has expressed concerns over the gamification of trading apps, saying it is pushing consumers “towards more frequent or riskier trading”.

On the back of an experiment with over 9,000 consumers, the Financial Conduct Authority found push notifications and prize draws can result in consumers taking actions against their own interests.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.