Galvan changed its name to Trade Facts Ltd in May 2016 . The business was regulated by the FCA under reference number 401179 until 1 December 2021 and now can no longer provide regulated activities and products.
Galvan/Trade Facts provided a CFD advisory service to ordinary investors which is probably the main reason that they found themselves in trouble, as CFD investments should only ever be provided to high net worth, sophisticated investors and/or to those who can afford to lose their investment. Fortunately, for its customers all Galvan/Trade Facts clients had an IFA (Independent Financial Advisor) assigned to them giving financial advice and by virtue of that relationship many customers have a right of redress for any losses suffered because of the poor advice.
Ironically, for 5 years in a row, Galvan/Trade Facts was awarded Best Equity Derivatives Advisor at the Shares Awards although what this meant for its clients is a total mystery.
Galvan/Trade Facts Ltd is still an active company, but we believe that in view of all that has happened over the last couple of years and with it leaving lots of unhappy clients, who have lost money on their investments due to poor advice, it is only a matter of time before they dissolve. Having said that the companies accounts are up to date but make grim reading.
Ordinarily clients, invest in an asset by buying shares. The investor then owns the asset and should the asset then increase in value, the investor will be able to sell it at a higher price making a profit. However, CFD trading works very differently as the investor never actually owns the asset, rather they bet on the value of the asset increasing or falling. When a person trades CFD’s they are entering into an agreement to exchange the difference in the price of an asset from the point at which the contract is opened to when it is closed.