Not upheld: misleading promotion complaint against Trading 212 UK Limited

Decision detail

Summary

Mr P complained that a promotional message from Trading 212 UK Limited offering 'free shares worth up to £100' was misleading because he only received approximately £24 worth of shares. TUK defended the promotion as transparent, noting that the phrase 'up to £100' indicated a maximum amount and that full terms explaining the random allocation of shares between £8-£100 were available via a 'Terms apply' link. The ombudsman did not uphold the complaint, finding that the promotional wording clearly indicated a maximum possible amount rather than a guaranteed amount, that the actual shares received fell within the stated range, and that it was reasonable to expect Mr P to review the available terms before opening the account.

The Ombudsman's reasoning

The ombudsman found that the phrase 'up to £100' clearly indicated a maximum possible amount rather than a promised, fixed, or typical amount. The actual shares received (approximately £24) fell within the stated range, so Mr P could not have reasonably expected a higher value based on the promotional message alone. While Mr P argued that downstream terms should not be relied upon to correct impressions from the referral message, the ombudsman concluded that the terms did not correct an earlier impression but rather provided additional detail about the same information already conveyed. The ombudsman also found it reasonable to expect Mr P, as a consumer using an execution-only service, to review the available terms before proceeding.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website