August
19
19
Citigroup advertising “FDIC-insured” forex daytrading accounts
Topics: macro
Despite the best efforts of Chuck Prince and Vikram Pandit, Citigroup (NYSE:C) (trend Δ update) is not a microcap, or even a smallcap. So forgive the style drift, but this story is too good not to share.
It turns out that Citi is using our taxpayer-funded insurance policy to peddle day-trading accounts to currency speculators over the internet. Here’s a screenshot showing the ad served by Google AdWords on Google reader today:

According to the site, CitiFX offers up to 50:1 margins.
Now what could possibly go wrong when you combine government insurance with massive leverage? Just asking.
DISCLOSURE: No position.
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