My personal losses, damages, financial summary of claims:
(see Summary-Claim10 for details)
2. Gross Financial Misconduct
- Manipulation of account statements, calculation algorithm
- Incorrect rounding down of profits and rounding up of losses to 1 cent.
- Rounding value of closed positions only to 2 decimal places (effectively 10%), even for assets which are only worth 0.00xx, e.g. Tron TRX and Ripple XRP,
- Closing of non CFD leveraged 1 position at 100% stop loss
3. Breaking of FCA requirements of clear, thorough, error less, financial reports –fines and penalties for Etoro
4. APPROPRIATION and not paying out MY CRYPTO assets
6. Unjust and pre-mature termination of user account and executing trades against users interest.
- Un-just – no viable reason, not break of T&C, unproven and unverified assumption of financial difficulties-only an excuse to get rid of investigative user who finds serious problems and advices to report it to authorities
- Pre-mature- wrong timing, when RSI, momentum, tech and fundamental indicators kept rising
- Execution of trades against users interest (ignoring fundamental and technical analysis) – regulatory fines for not complying with trading licence terms
75,000$ 89,000$ for a & b 20.12.2020 update.
7. Grooming into higher memberships and SCAM-like behaviour-fines and penalties for Etoro or cost of regulatory requirements to improve their procedures
8. My legal costs so far
9. My personal, mental, family and legal damages, wasted time used otherwise on improving financial situation
1% of $197,862.89==$2000 to be added to total compensation.
10. TOTAL CLAIM FOR DAMAGES
=$40,000 + ($4700+10$+$32,470.89+$82)+ 1600$+$40,000+
This may appear a lot but remember that I got a Diamond Membership status because I have invested more than $250,000 on the platform, and closed over 1700 manual trades in profit over $160,000, and was acclaimed by Etoro “proficient in my actions and use of platform”, so if they have messed up a Diamond account, the quantifiable damages and losses are of a Diamond level too.
Note, Etoro made $220,000 on me. If Etoro pays me all requested compensation of $212,000 then they still are left with $220,000-212,000=$8,000 profit!
It shows that Etoro will never loose, even if they pay out major compensation. They can however save themselves over $100 mln (and a major headache), just to settle one Diamond Account.
ETORO`S ESTIMATED COMPENSATION TO ALL (except me)
My genuinely calculated damages of $211,862.89 appear to be only 0.13% of Etoros $153 mln costs.
Another way of looking at my $211,862.89 claim is, it`s around 2% of the $5.7 million compensation that Etoro will have to pay to all users if I this is brought to media attention and audited by CySEC. How much is in Etoros Compensation Fund?
Of course, once we set the wheels in motion, we will not rest until all broker reviews of Etoro are updated, even if it needs injunction on review websites and my story and findings are forwarded user to user until at least 10% of existing and 10% of potential new users discovers Etoros problems and unspoken risks.
Work in progress