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Lost money on eToro? Let's file a class action lawsuit!


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The purpose of this thread is to initiate a discussion with fellow eToro customers to examine the possibility of bringing a class action lawsuit against eToro, with the aim of recovering all the money lost on missold products.

 

eToro encouraged thousands of inexperienced customers to bet their money on risky Contracts for Differences (CFDs). I argue that eToro negligently failed to ensure that customers properly understood the risks involved. The majority of these customers would not have put their money at risk if they had been properly informed by eToro.

 

I submit that eToro is guilty of:

 

1. offering and promoting the use of high leverage, which made the CFD trades extremely risky and tantamount to gambling (before the ESMA rules took effect, leverage as high a x100 was available on some assets, including extremely risky ones like gold and oil);

 

2. failing to make a good-faith effort to ensure that customers genuinely understood the risks associated with high leverage – their boilerplate warnings were not sufficient to enable inexperienced investors to make a truly informed decision;

 

3. actively encouraging customers to put more money at risk by telephoning them;

 

4. encouraging customers to copy so-called "Popular Investors", despite the fact that none of them are professional traders and suffered losses when the favourable market conditions ended.

 

In my opinion, such a class action lawsuit has a realistic prospect of success and is also in the public interest. Customers affected by at least one of the four points listed above can potentially receive compensation if the lawsuit is won by the claimants.

 

This year thousands of customers suffered losses either by using the high leverage that eToro recklessly made available to unsophisticated customers, or by copying incompetent “Popular Investors” like JayNemesis and Wesl3y, who are not qualified to invest money on behalf of others.

 

Let's get some momentum going and start selecting the right law firm to bring this claim against eToro!

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waste of time in the uk..this is not America

 

far better to launch individual court claims..

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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