I used to work for a spread betting company in London. That stat becomes even worse when you learn about B book brokers and how they can directly profit from th

I used to work for a spread betting company in London. That stat becomes even worse when you learn about B book brokers and how they can directly profit from their client’s losses. I recall I’d been made redundant and went to interview at another broker based around Imperial Wharf. Downstairs they had their “education” department where people paid large sums to “learn” how to trade, which mostly involved drawing shapes in stock charts and pretending they had meaning (if trading were that easy algo trading would be trivial). Upstairs I got to see the broker they ran, which they funnelled everyone who learnt how to trade into using. Dude interviewing me was coked out of his head, sniffing every 10 seconds. They were, essentially, pretending to teach people to trade while running the trading platform that would take all their money. They offered me the job. I turned it down.