Twitter campaign demands ban on 0% commission forex ads

More than 200 people have tweeted to the Office of Fair Trading calling for a ban on “0% commission” advertising in the travel money sector.

The Twitter-based petition to the OFT has been mobilised by online currency specialist FairFX.com after a poll of 1,000 people found that 90% want the ads banned.

Chief executive Stephen Heath said: “It seems that the lack of transparency in this marketplace has hit a nerve with consumers. We think the OFT should enforce the ban and provide a better system for consumers to easily compare the overall cost of travel money.

“At present people are clearly being swayed by the misleading headline advertising tactics adopted by many providers.”

The petition is live on Twitter. The OFT has replied saying it is considering the issue.
 

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