JRBSN1177
Recruit
- Messages
- 10
On 24th October I logged into etoro mobile and attempted to do a mass close of 17 positions of the same stock before their quarterly E.R (in around $3k profit) between 8.55 & 8.57pm UK time.
However the market said it was closed.
A pop-up box notified me that my close would be executed at market open next day.
However I didn't want this to happen so I cancelled the close and
I contacted eToro immediately, no response.
Next day the stock dropped drastically.
My account manager said that he asked the tech team, who confirmed others were able to open and close at the time I attempted to.
He said he didn't advise that I closed the positions, BUT that open positions couldn't be investigated and to open a ticket with customer services.
I opened a ticket, said there must have been a technical issue and either the market closed a few minuted too early or there was a glitch that prevented my close on mobile from executing.
I didn't hear from customer services for a week. So I added to the margins in the hope of salvaging the trades (as quite frankly I did not trust eToro to investigate properly) but they eventually closed by stop loss.
My account manager said it didn't matter how they closed, but could only be investigated once closed.
I emailed my 17 closed position I.D numbers as requested by customer services. They then did an investigation.
The outcome of this was that "US market closes 8 pm GMT and that the market was closed for almost a full hour when I attempted to close."
However this wasn't the case at all, on 24 Oct 27 it was 9.00 pm British Summer Time which is GMT+1 and US markets close at 9.00pm BST.
I stressed this on multiple occasions.
The customer service rep stated that I then "cancelled my market exit orders". Which I did, because I didn't want them to close at market open next day. I wanted my close honoured at the price and time when I went to manually close.
I then escalated this to a formal complaint and a senior customer service rep then proceeded to step in and do a "full and extensive review by himself and management".
Still, the outcome of this was EXACTLY the same. That US market closes at 8.00pm GMT and that I attempted to close an hour too late. No comments were given on my attempt to close the trades, the cancellation of market exit orders or whether the 17 position I.D's had actually ever been investigated.
I still don't know if they were or weren't.
Despite me stressing on multiple occasions that the market was open until 9.00 uk time & sending 1min screenshot trading charts from eToro of that day showing that price was available, and screenshots of my browser history, I was still given a Final Response that I closed around 9.00pm & US market closes at 8.00.
It also states that the information given by my account manager of others being able to open and close trades around 8.57 pm was incorrect. The customer services rep apologised for my account manager being wrong. (He wasn't wrong)
I stated that I didnt accept the final response and said I'd contact the Ombudsman, if that indeed was their final response.
They confirmed that yes, it was, & to proceed to the Ombudsman.
I then called my account manager who understood completely that I was complaining about not being able to close within actual market open hours.
My account manager called the customer service rep to explain that the market WAS open until 9.00pm UK time that day.
The senior customer service rep then issued (very hastily) a SECOND final response, overriding the first, quoting a misunderstanding of time-zones that was my fault, and as an addition that he'd just "checked the logs" and that no attempt to close was recorded.
There was NO acknowledgement of me cancelling exit orders (which can't be done UNLESS I've tried to close) & no mention whether my 17 position I.D's were ever investigated, given that both customer services reps were treating my complaint as a misunderstanding of market hours.
Etoro now have my $12k and I have two shambolic Final Response emails. I was given incorrect information in the Final Response about the amount of time I have to contact the Cypriot Ombudsman, and only a postal address was provided by etoro.
They have failed to provide any further contact details even though I requested them.
I have a LOT of screenshots pertaining to this case which can be added later but for now I just added the trading summary as it stood when I attempted to close.
However the market said it was closed.
A pop-up box notified me that my close would be executed at market open next day.
However I didn't want this to happen so I cancelled the close and
I contacted eToro immediately, no response.
Next day the stock dropped drastically.
My account manager said that he asked the tech team, who confirmed others were able to open and close at the time I attempted to.
He said he didn't advise that I closed the positions, BUT that open positions couldn't be investigated and to open a ticket with customer services.
I opened a ticket, said there must have been a technical issue and either the market closed a few minuted too early or there was a glitch that prevented my close on mobile from executing.
I didn't hear from customer services for a week. So I added to the margins in the hope of salvaging the trades (as quite frankly I did not trust eToro to investigate properly) but they eventually closed by stop loss.
My account manager said it didn't matter how they closed, but could only be investigated once closed.
I emailed my 17 closed position I.D numbers as requested by customer services. They then did an investigation.
The outcome of this was that "US market closes 8 pm GMT and that the market was closed for almost a full hour when I attempted to close."
However this wasn't the case at all, on 24 Oct 27 it was 9.00 pm British Summer Time which is GMT+1 and US markets close at 9.00pm BST.
I stressed this on multiple occasions.
The customer service rep stated that I then "cancelled my market exit orders". Which I did, because I didn't want them to close at market open next day. I wanted my close honoured at the price and time when I went to manually close.
I then escalated this to a formal complaint and a senior customer service rep then proceeded to step in and do a "full and extensive review by himself and management".
Still, the outcome of this was EXACTLY the same. That US market closes at 8.00pm GMT and that I attempted to close an hour too late. No comments were given on my attempt to close the trades, the cancellation of market exit orders or whether the 17 position I.D's had actually ever been investigated.
I still don't know if they were or weren't.
Despite me stressing on multiple occasions that the market was open until 9.00 uk time & sending 1min screenshot trading charts from eToro of that day showing that price was available, and screenshots of my browser history, I was still given a Final Response that I closed around 9.00pm & US market closes at 8.00.
It also states that the information given by my account manager of others being able to open and close trades around 8.57 pm was incorrect. The customer services rep apologised for my account manager being wrong. (He wasn't wrong)
I stated that I didnt accept the final response and said I'd contact the Ombudsman, if that indeed was their final response.
They confirmed that yes, it was, & to proceed to the Ombudsman.
I then called my account manager who understood completely that I was complaining about not being able to close within actual market open hours.
My account manager called the customer service rep to explain that the market WAS open until 9.00pm UK time that day.
The senior customer service rep then issued (very hastily) a SECOND final response, overriding the first, quoting a misunderstanding of time-zones that was my fault, and as an addition that he'd just "checked the logs" and that no attempt to close was recorded.
There was NO acknowledgement of me cancelling exit orders (which can't be done UNLESS I've tried to close) & no mention whether my 17 position I.D's were ever investigated, given that both customer services reps were treating my complaint as a misunderstanding of market hours.
Etoro now have my $12k and I have two shambolic Final Response emails. I was given incorrect information in the Final Response about the amount of time I have to contact the Cypriot Ombudsman, and only a postal address was provided by etoro.
They have failed to provide any further contact details even though I requested them.
I have a LOT of screenshots pertaining to this case which can be added later but for now I just added the trading summary as it stood when I attempted to close.
