Voyager (VOYG) Hit With Proposed Class Action Over Hidden Fees

Allegations Against the Crypto Broker Include Secret Commissions and Undisclosed Fees

Crypto broker Voyager is facing a proposed class-action lawsuit. The company, which had advertised trades as 100% commission-free, allegedly misled customers by charging hidden fees and secret commissions. 

The national cryptocurrency and class action law firm Levin Law, P.A. (“Levin Law”) is investigating whether Voyager customers were defrauded by the company’s promises and advertisements. If you traded cryptocurrency or digital assets using the Voyager platform, contact Levin Law managing partner and founding attorney Brian Levin at (305) 402-9050 or email contact@levinlawpa.com.

Hidden Fees Built Into Trades

According to Bloomberg, the crypto broker who promised commission-free trading is facing a proposed class-action lawsuit. Plaintiffs allege that despite advertising 100% commission-free trades, the broker charges “secret commissions” and undisclosed fees. Damages could exceed $1 billion, as noted in the article.

False Representations and Misleading Information

The proposed class-action lawsuit against Voyager has been filed in Miami and accuses the company of targeting unsophisticated investors through false representations and misleading information. 

On its website, Voyager claims to allow customers to buy and trade 70+ digital assets commission-free. Customers, however, believe that there are commissions and other fees built into each transaction, making it even more expensive than their competitors.

Allegations of Wrongdoing Against Other Online Brokers

Voyager isn’t the first trading platform to be targeted for deceptive business practices. As noted by Bloomberg, Robinhood Financial LLC has faced regulatory action, including a $65 million penalty from the U.S. Securities and Exchange Commission (SEC). 

As we previously discussed, Robinhood also paid a record-setting financial penalty after the Financial Industry Regulatory Authority (FINRA) found that the company had “systemic supervisory failures,” resulting in widespread harm to its customers. The nearly $70 million fine was imposed after regulators found that the company provided false and misleading information to customers.

Calls for Additional Oversight

Allegations of misconduct by online brokers have resulted in calls for increased regulation and oversight over crypto trading. 

Crypto investors who have traded through cryptocurrency platforms are encouraged to contact Levin Law for a free case evaluation to determine whether they may be eligible to pursue a lawsuit or arbitration to recover damages.

Contact Levin Law for a Free Case Evaluation

If you were a Voyager or other cryptocurrency platform customer harmed by the company’s false or misleading statements or charged undisclosed fees, you might be entitled to compensation. Contact Levin Law, P.A. for a free case evaluation. You can speak directly with managing partner Brian Levin by calling (305) 402-9050 or emailing contact@levinlawpa.com. 

At Levin Law, most cases are accepted on a contingency fee basis, meaning that you would not be responsible for Levin Law’s attorney fees unless money is recovered on your behalf. Call today to get started. Attorney Levin is a nationally recognized cryptocurrency attorney who has recovered millions on behalf of investors across the globe.

About Levin Law

Levin Law is a premier national cryptocurrency, securities, commodities, futures, and class action law firm. Brian Levin, Levin Law’s founding attorney, has helped recover in excess of $150,000,000 through arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.