Retail FX and CFD broker eToro has confirmed that users whose positions were closed due to the stop loss error on Monday February 1, 2021 have been refunded.

The official statement by the company says:

REFUND CONFIRMATION

We would like to confirm that users whose positions were closed due to the stop loss error on Monday February 1, 2021 have been refunded.

Please check your email for more details. You can also see the exact refund amount in your Portfolio History under “cashflows” – www.etoro.com/portfolio/history/cashflows.

Thank you,

The eToro Team

On Monday February 1, 2021, the maximum stop loss on some stocks was set to 20% in error. This issue only affected users who opened positions on specific stocks on Monday before 17:19 GMT when the issue was identified and resolved.

The broker said that users whose positions were closed by stop loss should rest assured that eToro’s teams will contact each and every affected user via email.

Users whose positions are still open should review the following two scenarios:

• A. Users who did not adjust stop loss on the positions they opened on Monday before 17:19 GMT – Please note that the stop loss setting on these trades will be returned to normal before market open, i.e. as if the issue had not occurred.
• B. Users who made changes to their stop loss on Monday before 17:19 GMT and still have open positions – Kindly note that eToro has not overridden the changes you made to these positions. The company urge the traders to check these trades to ensure they are happy with the stop loss they have put in place. If they wish to adjust the stop loss on these trades, they can do so without adding additional margin. In addition, funds added on Monday before 17:19 GMT to extend their stop loss, will be returned to their balance automatically upon any subsequent stop loss change.