Plus500 benefits from bitcoin boom
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Posted October 22, An online trading platform allowing users to place bets on the plus500 bitcoin value over time price of cryptocurrencies like Bitcoin, commodities and shares is facing a possible class action overseas.
Giambrone, the European law firm preparing the group litigation, said it had interviewed several hundred people who traded through Plus in the United Kingdom and lost their money in what it claimed were "unfair circumstances". Mr Salerno accused Plus of "rigging the platform" by failing to action its customers' bets or positions in a timely manner — an allegation the company denied. Plus provides contracts for difference, meaning its customers do not own the underlying assets cryptocurrencies, shares, commoditiesbut instead speculate on changes in their market value.
Failure to adhere to these rules — as set plus500 bitcoin value over time by the Financial Conduct Authority in the UK — can result in penalties.
Plus has also been criticised by customers who say the platform will often shut down at inconvenient times, preventing them from capitalising on advantageous movements in markets. But if it's something that persisted every week, you really need to look into your service. Mr Sadik said the disruptions to the platform, which he was accessing through an app on his mobile phone, cost him thousands of pounds.
They can basically disable the instrument plus500 bitcoin value over time they want," he said. It's more like gambling than trading. Giambrone also claims Plus is allowing inexperienced traders who fail a knowledge test to access the platform by signing a waiver. In a statement to Background Briefing, a Plus spokesperson said the screening process for plus500 bitcoin value over time customers was robust.
The plus500 bitcoin value over time "requires each customer plus500 bitcoin value over time pass a knowledge test, state [their] level of experience with derivative products … and other questions regarding their economic profile and appropriateness," they said. The spokesperson added that Plus takes "reasonable steps" to obtain "the best possible result" for customers in regard to their trading positions.
Plus said there was no outstanding litigation against the company, and that it had received no correspondence from lawyers with Giambrone, plus500 bitcoin value over time the firm telling the ABC that it hoped to reach a settlement. If you have inside knowledge of a topic in the news, plus500 bitcoin value over time the ABC. ABC teams share the story behind the story and insights into the making of digital, TV and radio content. Read about our editorial guiding principles and the enforceable standard our journalists follow.
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If you painted one of these pictures, your plus500 bitcoin value over time might soon be on show at an exhibition in Mexico. The Plus trading platform has been heavily promoted on social media. No one guessed I had a problem. Corporate watchdog cracks down on CFD advertising.
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