130,000 from work for my addiction. An online trading platform allowing users to place bets on top bitcoin gambling sites fluctuating price of cryptocurrencies like Bitcoin, commodities and shares is facing a possible class action overseas. The company, Plus500, is listed on the London Stock Exchange and operates internationally through subsidiaries in Australia, New Zealand, Cyprus, Israel, and South Africa. Giambrone, the European law firm preparing the group litigation, said it had interviewed several hundred people who traded through Plus500 in the United Kingdom and lost their money in what it claimed were “unfair circumstances”.
We have more than 600 people who got in touch with us, and we’ve managed to turn 30 per cent into actual claims,” Luca Salerno, a lawyer with the firm, said. 10,000, typically, within a timeframe of a couple of months. Mr Salerno accused Plus500 of “rigging the platform” by failing to action its customers’ bets or positions in a timely manner — an allegation the company denied. Mr Salerno said the company essentially “builds a delay on purpose” into betting transactions.
Let’s say I make a bet today on Bitcoin going up,” Mr Salerno said. By the time we managed to execute the transaction, Bitcoin went down again. Background Briefing is investigative journalism at its finest. He said that “flies in the face” of market regulations on transaction execution. Failure to adhere to these rules — as set out by the Financial Conduct Authority in the UK — can result in penalties. More like gambling than trading’Plus500 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. To be honest, I feel that was deliberate because it didn’t happen just once,” Yousif Sadik, who traded through Plus500 in London, said.