Posted November 14, 2018 09:30:14An online trading company, which allowed people to trade for less than they would pay, has lost $1.1bn after the financial crisis.
Trader Adam Wollock was one of the largest traders in the digital trading market, which was first launched in 2010.
His account was worth more than $2.5bn, according to financial data company Tradeweb.
Mr Wollocks business, which traded for less and offered no fees, was also sold to a new digital trading company in 2016, Trading Economics.
Trading Economics had its account suspended in January, with the firm admitting it “made an error” in deciding to suspend the business.
The trading company was closed down and replaced with a new company, Trading Markets, which also suspended trading, and said it had “restored confidence in the trading platform”.
Mr Wolls business, now known as Trader Adam Wolls Trading Company, had more than 6,000 accounts and a turnover of more than US$500m.
Mr Wollett said it was a “very sad day for traders”.
“Trading Markets is an extraordinary company, and a truly global one.
But there’s always a chance you could have made some money from it if you had taken the time to learn the rules of the game and understand what the market was going to do,” he said.
Traders are still able to make money from their trading accounts.
A number of online trading companies, such as Bitfinex, offer fees, and some also offer trading advice.
A Trade Price Report (TPR) tool for those looking to invest is available at Trader Adam’s website.
Tradeweb, which provides trading data for the financial markets, said it will offer trading data on all trading accounts that have been suspended and on all traders currently trading.
“We’ve also suspended some of our traders in an attempt to prevent further fraud.
If you have any information about any traders that have had their trading account suspended, we’d like to hear from you,” Mr Wollett told the ABC.
Tracking prices and prices in real timeThe trading data can be downloaded by using a tracker tool that tracks how prices are changing in real-time.
Trademarks and trading logos used by Trader AdamWollock’s website have been used on other trading platforms, such to make products and services, and to advertise.