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Crypto currency trading

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Re: Crypto currency trading

Postby Jinxer » Wed Mar 07, 2018 11:14 pm

The crypto currencies may well be unregulated, but that's not the issue the issue was around the etoro trading platform and the registration and verification of my details and the forced closing of my trades without warning and them quoting the t's & c's above as the reason for doing this. I'm saying my account shouldn't of been liquidated without warning as it was fully verified and they are saying they needed more verification which at the time of closing didn't show in my account settings. They have since closing my account changed my settings page to ask for tax id which wasn't required before I made my complaint. I wouldn't of minded loosing money because of the trades I made that would be my bad choices, but the reason I lost money was because of them closing my trades early because of the verification process they say wasn't complete.
This is the last email I have had which I am probably going to accept.

Please understand that verification is a regulatory requirement of eToro and as such we consistently try to adhere to the predetermined guidelines.

We sincerely apologize for the confusion and would like to offer $50 as a gesture of goodwill.

Thank you for your understanding and we wish you happy trading!

Should you require further assistance or information, please reply to this message.

Best regards,
eToro Customer Service Team.

I'm more upset trying to find another way to buy the crypto that I want as it's not an easy task. I registered on coinbase without any problems but they haven't got the crypto I'm after listed yet.
It's ok your children are safe, they're locked away behind barbed wire gates. If you don't comply sir they'll send you another fine sir.
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Re: Crypto currency trading

Postby diy » Thu Mar 08, 2018 9:09 am

There are a few ETF's emerging, but obviously you have less control. You are right that your trading position is irrelevant to your claim that they acted in error. Your position may have been gold, tech stock or magic beans. The fact is you lost money because the liquidated your position apparently in error.
Last edited by diy on Thu Mar 08, 2018 9:12 am, edited 1 time in total.
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Re: Crypto currency trading

Postby atticus » Thu Mar 08, 2018 9:10 am

And more TLAs as well.
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Re: Crypto currency trading

Postby diy » Thu Mar 08, 2018 9:18 am

ETF - Exchange traded fund. or more simply a share in a pot full of shares
https://en.wikipedia.org/wiki/Exchange-traded_fund
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Re: Crypto currency trading

Postby atticus » Thu Mar 08, 2018 9:43 am

once upon a time those were called Unit Trusts.
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Re: Crypto currency trading

Postby diy » Thu Mar 08, 2018 9:47 am

Yes and a fat bloke in a suit would come to your home waste 2 hours of your time, assessing your risk portfolio appetite only to recommend the same mix of stock, property and commodities as he did the previous client, charge you 1.5% to join, 2% a year and 1% to sell.

Fortunately ETF's are a bit leaner and can be traded for a few quid with relatively small spreads. I've found them quite a good way to dump ISA allowances in, e.g. an "invest and forget ftse 250 tracker".
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Re: Crypto currency trading

Postby dls » Thu Mar 08, 2018 12:17 pm

My point is that the OP needs to understand that he set out to invest with a company based upon its contract, but failed to recognise that the entire set up was entirely designed to make sure that the contract could never be enforced, and that therefore they would always get away with whatever they like.
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Re: Crypto currency trading

Postby diy » Thu Mar 08, 2018 3:17 pm

I'm missing something? I don't follow your argument. Are you commenting on the investment or the terms of brokerage? They are licensed by the FCA
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Re: Crypto currency trading

Postby atticus » Thu Mar 08, 2018 3:24 pm

The screenshot says Cyprus Securities Exchange
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Re: Crypto currency trading

Postby diy » Thu Mar 08, 2018 3:45 pm

xxxx’s brokering services are provided by xxxx (Europe) Ltd., a registered Cypriot Investment Firm (CIF). The company’s registration number is xxx. XXX Europe is regulated by the Cyprus Securities & Exchange Commission (CySEC) under license number XXXX. In the UK, XXXX UK (company registration number XXXX) is authorized and regulated by the Financial Conduct Authority (FCA), under firm reference number XXXX. XXXX (Europe) Ltd. and XXX(UK) Ltd. both operate under and comply with the Markets in Financial Instruments Directive (MiFID).
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