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Game_of_Homes

Can anyone explain how this might be possible?

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An exploitable bug in the platform which enabled the trader to gamble for real with play money?

The story doesn't make sense.

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BTW, this was a small outfit that was losing money.  I'd be very wary of putting money their (or anyone similar) way.  Eg, this happened today.

https://uk.reuters.com/article/uk-britain-investment-financial-org/unregulated-british-firm-financial-org-closes-investors-accounts-idUKKBN1JH2AG

[which is essentially a way of going bankrupt and stealing all their money without actually going bankrupt and having to deal with creditors.  clever]

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I think it's a PR stunt gone wrong too. What is interesting is the comments, in particular one about logging all mouse movements and trying to pre-empt what buys/sells the user makes before they actually click the button. Clever, but entirely plausible, and probably not illegal either.

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He could have been buying options - puts and calls.

They are a right nightmare as, dependent upon date, you buy rights to sell or buy contracts for as little as pennies... but a single contract could be 50K.

Do enough of those and you can quickly get to serious money. If he thought that he was just playing then he could have been buying or selling these contracts and instead of cancelling them before the due day he was just ignoring them. 20 50K contracts and you have a million straight away.

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3 hours ago, ashestoashes said:

he had 20k in his account, that's enough for 5 Billion leverage, though they did say he went beyond his limits

isnt spread betting etc limited to 25 times cash avaliable

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