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eToro Announced Forced Liquidation in Magnit Holdings, Petition Launched against the Move
Abstract：Following the negative effect of the sanctions on Russian stocks, eToro informed its customers it is delisting Magnit PJSC. eToro forced liquidated positions of Magnit, one of the largest supermarkets in Russia.
eToro liquidated Magnit at the end of Friday's session, paid traders $0.0124 per share.
Traders launched a petition against eToro's decision.
The broker released the following statement on its website:
All of the instruments that we offer for trading and investing on our platform are subject to the conditions in the underlying markets that they are based on. The continued availability of Russian based instruments is dependent on their availability on the world exchanges, and any international sanctions.
In addition, we *may* limit the ability to invest in any instrument on our platform based on our internal risk management considerations. This may include, but is not limited to, closing positions in certain instruments.
Currently, due to the *severe* lack of liquidity in the underlying markets and therefore what is available to eToro from our liquidity providers , it is necessary to remove $MGNTL.L (Magnit PJSC) from our platform. Please read the following carefully:
Any investment in $MGNTL.L that remains open at the end of business on Friday, March 4, 2022, will be closed at the last tradable rate in the market.
The value of the position at the time of closure will be returned to the account balance. 2. Due to the impact of the current geopolitical events on markets, we are reviewing the liquidity and our ability to continue offering the following stocks:
$OGZDL.L (Gazprom OAO)
$LKODL.L (Lukoil OAO)
$MNODL.L (MMC Norilsk Nickel OJSC)
$NVTKL.L (NOVATEK OAO)
$ROSNL.L (Rosneft OAO)
$SBERL.L (Sberbank of Russia)
$SVSTL.L (Severstal PAO)
$SGGD.L (Surgutneftegas OAO)
$ATADL.L (Tatneft OAO)
“We will do our best to notify you in advance if the availability of any of the above stocks changes.”
source: eToro
eToro's customers received $0.0124 per share. The stock depreciated over 95% in the past several weeks.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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For experienced traders, selecting a broker is a meticulous process that extends far beyond headline spreads and bonus offers. It involves a deep dive into the fundamental structure of a broker's offering: its regulatory standing, the integrity of its trading conditions, and the flexibility of its account types. Uniglobe Markets, a broker with an operational history spanning over five years, presents a complex case study. It offers seemingly attractive conditions, including high leverage and a diverse account structure, yet operates within a regulatory framework that demands intense scrutiny. This in-depth analysis will dissect the Uniglobe Markets trading conditions and account types, using data primarily sourced from the global broker inquiry platform, WikiFX. We will explore the Uniglobe Markets minimum deposit, leverage, and account types to provide a clear, data-driven perspective for traders evaluating this broker as a potential long-term partner.
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In-Depth Review of MH Markets Trading Conditions and Leverage – An Analysis for Experienced Traders
For experienced traders, selecting a broker is a meticulous process that extends far beyond marketing claims and bonus offers. It involves a granular analysis of the core trading environment: the quality of execution, the flexibility of leverage, the integrity of the regulatory framework, and the suitability of the conditions for one's specific strategy. MH Markets, a broker with a 5-10 year operational history, presents a complex and multifaceted profile that warrants such a detailed examination. This in-depth review dissects the MH Markets trading conditions and leverage, using primary data from the global broker inquiry app, WikiFX, to provide a clear, data-driven perspective. We will analyze the broker's execution environment, account structures, and regulatory standing to determine which types of traders might find its offering compelling and what critical risks they must consider.
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