Trader builds $5 billion position after realizing he wasn't using test program, but brokerage says he can't keep his profit
Michael Sheetz | @thesheetztweetz
Published 10:49 AM ET Thu, 21 June 2018 Updated 8:40 AM ET Fri, 22 June 2018 CNBC.com
Harouna Traore, a day trader in France, thought he was using a demonstration version of British brokerage firm Valbury Capital's platform.
He opened an account with about 20,000 euros, or $23,000, after using the demo during an educational course in Paris.
Traore racked up a loss of more than $1 million before he realized the trades were real and, instead of quitting, he kept trading for a profit of 10 million euros, or $11.6 million.