30/11/2020 Dear Etoro To Avi, Ira Morstyn, Simon Peters, Yoni Assia,
I`m making an official complaint no 10 (etoroticket 01411700),
10. Total claim for mental and financial damages and losses based on all complaints/claims
This claim is a summary of all financial and mental losses and damages as consequence of Etoro`s actions, based on all my previous complaints/claims, namely:
A. Etoro PROBLEMS and consequences for me
“1. Etoro`s negligence and failure to carry out social responsibility interactions and duty of customer care”, (2,7)
“2. Gross Financial Misconduct – financial actions putting users at loss.” (1,5)
“3. VIOLATION of legal FCA, FSCA, CySEC regulations and requirements” (1, 2, 5, 7, 8)
“4. APPROPRIATION (keeping) of users CRYPTO ASSETS in EtoroX wallet after closure of account -failed attempt” (2, 3)
“5. MISREPRESENTATION, poor quality and lack of information, misleading advertising, untrue reviews (2, 3, 4, 5), poor customer services” (2, 3, 4, 5)
“6 Unjust & premature account termination-execution of trades against user (1, 3, 4, 7)”
“7. Problems with withdrawal of investor`s funds” (6)
“8. My personal, mental, family and legal damages” (7)
“9 Offering higher memberships and other SCAM-like behaviour (7, 3)”
The numbers in brackets correspond with following complaint categories on CySEC website.
1 Execution of orders
Quality or lack of information provided to the client – resulting in further misrepresentation
3 General admin/customer services (including custody/safekeeping services)
4 Terms of contract
5 Unauthorised business being offered or carried out
6 Withdrawal of investors’ funds
Refer to above complaints/claims for details. Purpose of this claim is to summarise financial and personal losses and damages and present them in dollars.
B. REQUIRED ACTIONS FROM ETORO
I`m herein requesting a financial compensation for all Etoro`s wrong doing, negligence and systematic failures.
I also reserve right to select 10 users with highest justified losses (my team will review if they fall under quantifiable losses, e.g. looking at errors found in my case) and Etoro will have to compensate them too.
(If you read this, come forward for your chance of “endorsed compensation”).
By Law, Etoro is required to have, manage and use the Compensation Fund to deal with such situations. We will insist on CySEC to have Etoros Compensation Fund reviewed to see if it is being used suitably and in proportion to number and size of claims and if users get compensated at all.
If no action is taken by Etoro we will continue to share, reveal, publish, comment, any findings or proof that we have, firstly by appealing to over 200,000 users affected by main quantifiable problem, with exact instructions, and then to thousands of new customers that deserve to know all true “management risks”
See My Damages for total requested compensation.
I`ve also estimated Etoro`s loss of revenue from existing and new customers, should evidence off all above failures becomes publicly available e.g. on a series of “Etoro is not safe” blogs, forums, tutorials. My fellow bloggers say that 1000 facebook expressions costs less than 5$ and they use resources at Fiver and Fivesquid for cheap promotions and campaign management services, etc. This is not a threat; this is just to make Etoro aware that not only them have access to know-how – the same marketing tools and technology are available to customers advantage. A crowdfunding campaign goes a long way for the right/just cause.
It`s estimated that, over course of 2 years, over $100 mln in revenue could be lost by Etoro revenue as a result of cautions, sensible trading by new and existing users or in fact by traders avoiding Etoro as a broker at all. To be clear, we don`t want Etoro to be at loss, but for millions of users dollars left/lost on the platform we expect professionalism, management responsibility and just actions, now and in future.
See Etoros Cost for total estimate of Etoros loses as a result of all above.
See the Evidence and Gallery – work in progress.
Documents and users` Testimonies are available on request. All claims/complaints will be updated with more information, as required, and proof from all over the world will be published as it is received, this is just a summary, a tip of the iceberg.
D. CALCULATION OF FINANCIAL CONSEQUENCES.
Note, this complaint forms part of and concludes a series of other complaints that support my whole case. I reserve the right (and freedom of speech right to advise and mentor other users on my blog and forums) to also report this to the CySEC, FSCA, FCA, ASIC and other applicable regulating bodies, as well as publishing all remaining hard proof online..:
If you had similar problems, or agree with me, please leave a comment, or contact us. We can make a difference. #EtoroVictimsUnite. Regards, Platinum Joe.