The Financial Conduct Authority has warned against the use of ‘gamification’ within trading apps, telling operators that they must review design features that push investors to treat the stock market like a video game.
The regulator said that the game-like elements in trading apps "risk prompting consumers to take actions against their own interest", citing examples of celebratory messages for making trades, badges, and in-app points, which can be tracked in leaderboards. Along with the warning, the FCA published research finding that customers using gamified trading apps are exposed to high-risk investments, and some appear to exhibit behaviours similar to problem gambling. While the FCA said gamification can be used to "engage consumers positively", it is currently being used in ways that could mi...
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