ASIC alleges that eToro's CFD target market was excessively broad. ASIC is seeking declarations and monetary penalties from the court. Our government trade tracker caught Pelosi’s 169% AI winner.

ASIC has hit trading platform eToro with a lawsuit over inappropriate screen tests for its high-risk CFD products, claiming around 20,000 eToro clients lost money since late 2021.

According to the regulator, eToro’s screening test was very difficult to fail and of no real use in excluding customers for whom the CFD product was not likely to be appropriate. For example ...

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ASIC considers that eToro’s conduct is “likely to have resulted in a significant number of retail clients being exposed to the CFD product that was unlikely to be consistent with their ...

The Australian Securities & Investments Commission alleges that between October 2021 and June 2023, almost 20,000 of eToro’s clients lost money trading CFDs. eToro’s website states that 77 per ...

EToro was one of several firms to successfully lobby to have firms offering forex and CFD removed from the legislation. Though based in Israel, the company is licensed in Cyprus and a UK version ...

ASIC alleges that from October 2021, eToro’s CFD target market was excessively broad. For instance, a retail client with a medium-risk tolerance but lacking experience as an investor and understanding ...

Australia’s corporate regulator is taking online investment platform eToro to court over claims it allegedly offered “volatile” higher risk products without adequate screening of investors.