Australia’s financial regulator ASIC has announced that it has taken legal action against online investment platform eToro Aus Capital Limited over the offering of contracts for difference (CFD) trading to ineligible customers. In July, eToro was fined EUR 1.3 million by the Italian competition authority for misleading advertising. The regulator said eToro likely attracted a significant number of non-professional clients to trade in high-risk contracts for difference, which may not be consistent with their investment objectives, financial condition and needs, resulting in a significant risk of harm to users.
ASIC Sues eToro over High-Risk CFD Products
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