Top ISA Rates - Are They Misleading or Fake?

By J Drew -
 Despite the issues with London Capital Finance being investigated by the FCA over possible illegal promotion of their bonds to savers who weren't suitable for a product where they can lose their capital there are still adverts being promoted by a company called Top ISA rates offering similar things.

UPDATE - FCA has now issued a ruling on the use of these sites by LCF ordering them to make risk warnings prominent and warning that the ISA is non compliant and therefore taxable.

The adverts on Facebook show cash machines and no mention that they are anything other than cash ISAs.

Top ISA Rates Misleading Fake
Top ISA Rates - Misleading Fake adverts?

 When you click through you see a list of products listed as Fixed Rate ISAs which includes Blackmore Bonds which are unregulated and not FSCS protected as well as cash ISAs from FSCS protected banks under the same banner. The two products are in no way similar.



They then show more details under a banner saying "What kinds of cash ISA are there" which shows Fixed Rate as a type. The products they have listed are not cash ISAs and should not be confused with bank savings accounts where your money is protected and guaranteed. 

The products listed on TopISA rates like Blackmore Bonds and London Capital are ones where you could lose 100% of your money - they are unregulated and unprotected as investors in LCF are finding out to their cost.


The advertising is so clearly misleading it's incredible that Advertising Standards and FSA are not interested in dealing with it. These appear on Facebook as well as Google



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