Astute Capital ISA Review - Is It Genuine or a Scam?
Yet another ISA has popped up that gives the appearance of being a cash ISA yet it is actually an unregulated investment where you could lose all your money as it is not FSCS protected. It is not a cash ISA but another type called an Shares ISA (S&S ISA) that invests in bonds which are loans to companies. This is sold by a company called Astute Capital.
Bond Review has now reviewed the Astute Capital ISA here
The risk warning is so small and in such a position that most people won't see it. If you think the Astute ISA is a cash ISA and your money is safe then you are at risk of being scammed.
The promotion appears to be via a company called Savings Explained yet they fail to point out that your money is at risk and the products they are selling are not savings but investments where you can lose all your money. Comparison with bank savings is incredibly misleading as they are in no way similar.
They claim to be asset backed for security. London Capital and Finance claimed the same yet bondholders are still facing a loss that might amount to 90% of their capital so you potentially would only get £1000 back for every £10,000 you invest.
Investment in a standard Stocks and Shares ISA would be a far less risky option.
Bond Review has now reviewed the Astute Capital ISA here
The risk warning is so small and in such a position that most people won't see it. If you think the Astute ISA is a cash ISA and your money is safe then you are at risk of being scammed.
The promotion appears to be via a company called Savings Explained yet they fail to point out that your money is at risk and the products they are selling are not savings but investments where you can lose all your money. Comparison with bank savings is incredibly misleading as they are in no way similar.
They claim to be asset backed for security. London Capital and Finance claimed the same yet bondholders are still facing a loss that might amount to 90% of their capital so you potentially would only get £1000 back for every £10,000 you invest.
Investment in a standard Stocks and Shares ISA would be a far less risky option.
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