Q: Can I hold an OL investment facility liable for not activating my account on time & losing on an important transaction?
I opened an online account with an investment facility, they ensured me that it would be activated after 24-48 hours. After 7 days, it is still not activated as I hoped and the 7th day was the deadline of a transaction that I wanted to do using the account. Furthermore I told them of the urgency & they didn't even inform me that the deadline of the transaction that I wanted to do was actually hours earlier than the activation of my account, so I felt misinformed. Is there anything I can do to make them liable?
A: Probably not--unless you can prove up some financial damages. Speculative losses are not reliable; neither are speculative gains. Brokerage firms--online or otherwise--cannot be held liable for mistakes that do not actually harm the customer.
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