🚨 The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against eToro, alleging that the trading platform used inadequate screening tests while offering Contract for Difference (CFD) products to retail investors.

ASIC claims that the CFDs were "high-risk and volatile," and the platform's screening test allowed unsuitable clients to trade them. Nearly 20,000 users lost money trading CFDs between October 2021 and June 2023. ASIC seeks declarations and penalties, prompting eToro to review its target market determination.

#ASIC #eToro #CFD #InvestorProtection #FinancialRegulation