June 22, 2018

Ruh roh.

"A trainee day trader in France is suing a British brokerage for an amount comparable to almost its entire annual revenue after it seized the 10m profit he made using what he initially thought was a demonstration version of its platform....

"He was practicing trading at home on what he believed to be the demo version - placing 1bn of orders for European and U.S. equity futures - before realizing that it was the live platform and he had run up a loss of more than 1m. He continued trading, eventually building up a $5bn position in U.S. equity futures and turning the loss into a profit of more than 10m."

Day trader sues broker over 'demo' trading platform mix-up

Read entire Week InReview: June 22, 2018