xtb

Day Trader Sues UK Brokers


#1

It’s not every day that a day trader takes legal action against a brokerage – but that’s exactly what a junior trader from France, Harouna Traore, is doing.

Traore made an initial deposit of €20,000 into his account to try out a training and simulation platform at the British firm Valbury Capital, but from this point on the detail of what actually occurred gets a little blurry.

From various sources it seems that Traore then suffered a bit of a ‘roller coaster experience’ as he initially lost €1m in what he believed to be his practice account to trade equity futures. Undeterred, Traore tried to recoup his loss and succeeded in bringing his account back up to a €10m profit.

On contacting Valbury to discuss the situation they argued that he had breached his contract and trading limits and voided and cancelled all his holdings. Not one to take matters lying down, Traore filed a writ of summons to claim back his ‘winnings’.

The matter, which the FT politely calls a ‘mix up’, is now in the hands of lawyers who seldom lose their positions whatever the outcome for their client.

https://www.ft.com/content/46eff974-7470-11e8-b6ad-3823e4384287


#2

Interesting subject matter - ha ha! Has anyone been able to find out what happened or is happening with this alleged law suit? The most recent related event I’ve been able to uncover is a vague reference to Harouna Traore when Valbury Capital published a first time profit for 2017 in September of this year.


#3

Hey Trudy, I’ve neither seen nor heard a squeak since mid-year but, if you’re not personally involved’ there is a rather amusing analysis to be read [here] (https://freevestor.com/demo-trader-valbury-billion/) .

Not sure how much is fact and how much is fiction but it looks like a mess that all parties would sooner see forgotten.

Anyone else heard anything?