u/AccurateDebt5258

Ciao a tutti, volevo condividere la mia esperienza per avere un parere tecnico da altri commercialisti o da chi si è trovato in situazioni simili, e capire come muovermi al meglio.

Premessa e progetto:
Sto avviando un'attività di vending (12 distributori automatici di ultima generazione da installare in vari punti strategici). Investimento totale di oltre 66.000 USD per l'acquisto delle macchine dalla Cina.

Cosa è successo:
Prima di effettuare l'ordine e inviare il bonifico estero, mi sono rivolto al mio (ormai ex) commercialista chiedendo espressamente come procedere per fare le cose per bene, tutelarmi e non giocarmi la possibilità di accedere a bandi regionali a fondo perduto (es. Legge Regionale 3/2006 in Sardegna) e ai crediti d'imposta (Transizione 4.0/5.0).

In data 22 Giugno 2026 gli mando un'email esplicita chiedendogli: "Sto per fare l'ordine dei distributori. C'è qualche documento da fare o dobbiamo aprire la P.IVA/conto ditta prima di procedere?".

La gestione del professionista:

1. Nessun riscontro scritto, ma a voce mi dice di procedere pure da privato e dal conto corrente personale adducendo la mia "fretta commerciale", rassicurandomi.
2. Non mi ha minimamente informato che bastava un passaggio elementare di 24/48 ore: apertura Partita IVA inattiva con iscrizione alla CCIAA e conto ditta dedicato per effettuare il bonifico B2B e blindare la tracciabilità per i bandi pubblici.
3. Come se non bastasse, dopo mesi se ne esce dicendo che aver acquistato da privato mi avrebbe fatto perdere anche qualsiasi diritto al Credito d'Imposta 2027 (Transizione 4.0/5.0). Informazione del tutto errata, dato che la normativa (L. 178/2020) si basa sull'entrata in funzione e interconnessione del bene sotto P.IVA (tramite apporto/conferimento iniziale d'impresa), prescindendo dal bonifico iniziale del privato.
4. Quando gli ho fatto notare i suoi errori e le sue omissioni con le normative alla mano, ha alzato i toni con frasi sgradevoli e mi ha bloccato su WhatsApp.

Situazione attuale:
- Le macchine sono in viaggio e sdoganate in DDP.
- Ho inviato PEC formale di contestazione e risoluzione del rapporto professionale per grave inadempimento e violazione dei doveri di diligenza d'informazione e tutela del cliente.
- La P.IVA la aprirò a inizio 2027 facendo l'apporto dei beni in azienda per interconnetterli e recuperare almeno il Credito d'Imposta 4.0.

Le mie domande per voi:

1. Dal punto di vista della responsabilità professionale e risarcimento danni (polizza RC), come viene inquadrata la "perdita di chance" per un bando a fondo perduto causata dall'omessa informativa del consulente su una procedura banale come l'apertura di una P.IVA inattiva ante-ordine?
2. Per il Bando Regionale (L.R. 3), con il nuovo commercialista ha senso tentare una strada (es. interpello/spese d'impianto ante-costituzione) o il vizio del bonifico da conto privato è un macigno insuperabile?
3. Avete consigli su come impostare la pratica di apporto/conferimento beni del titolare a inizio 2027 per non avere problemi con la perizia e l'interconnessione 4.0?

Grazie a chiunque dedicherà due minuti per darmi un parere tecnico!

Hi everyone,

I’m an Italian tax resident and currently have approximately $256,000 invested in QQQ through eToro. My original investment was around $153,000, so I’m sitting on an unrealised profit of approximately $103,000.

My intention was to hold this investment for around 20 years. I’m not particularly worried about market volatility or QQQ falling in value. My main concern is what happens if the broker fails, becomes insolvent, or there is fraud or theft.

I recently discovered that my QQQ position is labelled “Buy CFD”, even though it is X1/unleveraged.

I contacted eToro and asked what would happen if eToro became insolvent. After several incomplete responses, their Operations Team finally sent me a detailed explanation.

The key points they confirmed were:

\* My account is with eToro Europe, regulated by CySEC in Cyprus.
\* My QQQ position is an OTC CFD, not actual ownership of QQQ ETF units.
\* eToro Europe is my contractual counterparty, not a tier-one bank. They corrected an earlier statement from an eToro representative who had told me that tier-one banks were the counterparties.
\* If eToro Europe became insolvent, my CFD would have to be valued, closed, or otherwise dealt with during the insolvency process.
\* The value of my open CFD is a contractual claim against eToro Europe. It is not cash held separately for me.
\* Client money is supposed to be segregated, but pooled client-money accounts can potentially have shortfalls.
\* The Cyprus Investor Compensation Fund is capped at €20,000 for eligible covered claims.
\* As a Platinum+ client, I apparently have private insurance, but eToro says that for an open CFD it covers only the collateral, not the full value of the open position.
\* The insurance also requires both an insolvency event and a qualifying event of misconduct, such as fraud or theft. It does not simply cover every insolvency.
\* If my position grew from $250,000 to $2 million, the additional unrealised value would still be a contractual claim against eToro—not segregated cash.

This has made me seriously question whether I should continue holding a large, long-term investment through eToro.

I’m considering selling everything, paying the Italian capital-gains tax, and moving to Interactive Brokers, where I would try to buy a real, non-CFD UCITS ETF instead.

Based on the current figures, I estimate that selling could trigger a tax bill of approximately €23,000, although I have not yet had the exact amount calculated by a tax professional.

My questions are:

\* Am I correctly understanding the risks of holding a large CFD position with eToro?
\* Is this genuinely a significant structural risk, or am I misunderstanding how CFDs and client-money protection work?
\* Would holding a real ETF through IBKR provide materially different protection if the broker became insolvent?
\* Do all brokers have similar insolvency risks, or is owning actual ETF units through a broker fundamentally different from holding a CFD?
\* Would you personally consider moving in this situation, given the potentially large immediate tax bill?
\* Is there any sensible way to transition without crystallising the entire capital gain immediately?

I’m looking for practical perspectives from people who understand broker insolvency, CFDs, custody arrangements, and investor protection.

Thanks in advance.

Hi everyone,

I’m an Italian tax resident and currently have approximately $256,000 invested in QQQ through eToro. My original investment was around $153,000, so I’m sitting on an unrealised profit of approximately $103,000.

My intention was to hold this investment for around 20 years. I’m not particularly worried about market volatility or QQQ falling in value. My main concern is what happens if the broker fails, becomes insolvent, or there is fraud or theft.

I recently discovered that my QQQ position is labelled “Buy CFD”, even though it is X1/unleveraged.

I contacted eToro and asked what would happen if eToro became insolvent. After several incomplete responses, their Operations Team finally sent me a detailed explanation.

The key points they confirmed were:

* My account is with eToro Europe, regulated by CySEC in Cyprus.
* My QQQ position is an OTC CFD, not actual ownership of QQQ ETF units.
* eToro Europe is my contractual counterparty, not a tier-one bank. They corrected an earlier statement from an eToro representative who had told me that tier-one banks were the counterparties.
* If eToro Europe became insolvent, my CFD would have to be valued, closed, or otherwise dealt with during the insolvency process.
* The value of my open CFD is a contractual claim against eToro Europe. It is not cash held separately for me.
* Client money is supposed to be segregated, but pooled client-money accounts can potentially have shortfalls.
* The Cyprus Investor Compensation Fund is capped at €20,000 for eligible covered claims.
* As a Platinum+ client, I apparently have private insurance, but eToro says that for an open CFD it covers only the collateral, not the full value of the open position.
* The insurance also requires both an insolvency event and a qualifying event of misconduct, such as fraud or theft. It does not simply cover every insolvency.
* If my position grew from $250,000 to $2 million, the additional unrealised value would still be a contractual claim against eToro—not segregated cash.

This has made me seriously question whether I should continue holding a large, long-term investment through eToro.

I’m considering selling everything, paying the Italian capital-gains tax, and moving to Interactive Brokers, where I would try to buy a real, non-CFD UCITS ETF instead.

Based on the current figures, I estimate that selling could trigger a tax bill of approximately €23,000, although I have not yet had the exact amount calculated by a tax professional.

My questions are:

* Am I correctly understanding the risks of holding a large CFD position with eToro?
* Is this genuinely a significant structural risk, or am I misunderstanding how CFDs and client-money protection work?
* Would holding a real ETF through IBKR provide materially different protection if the broker became insolvent?
* Do all brokers have similar insolvency risks, or is owning actual ETF units through a broker fundamentally different from holding a CFD?
* Would you personally consider moving in this situation, given the potentially large immediate tax bill?
* Is there any sensible way to transition without crystallising the entire capital gain immediately?

I’m looking for practical perspectives from people who understand broker insolvency, CFDs, custody arrangements, and investor protection.

Thanks in advance.

Hello everyone! I own a protein vending machine that mixes protein shakes on the spot inside a gym in Sardinia, Italy.

I installed my first machine on 2 February and wanted to make sure the business actually worked before expanding. I waited 5 months before making any big decisions.
Gross sales were:
February (from the 2nd): €646
March: €648
April: €631
May: €540
June: €584
So after seeing five fairly consistent months, I paid for 12 more machines (13 total).
The problem is that about halfway through July, sales suddenly dropped. July finished at only €597, and since then I’ve had days making only €10–15, whereas before I regularly had €35–45 days.
Nothing changed:
Same gym
Same products
Same prices
Same machine
The only thing that changed is the time of year.
Now I’m wondering if I made a huge mistake investing based on only five months of data, or if this is just what happens with gym vending machines during summer.
For those of you who own vending machines (especially in gyms):
Do you also see a big drop from mid-July through August?
Do sales usually recover in September?
Would you have expanded after 5 months, or waited a full year?
I’m honestly pretty stressed because I already paid for the other 12 machines, so I’d really appreciate hearing from people with experience rather than guesses.

I own a protein vending machine that mixes protein shakes on the spot inside a gym in Sardinia, Italy.
I installed my first machine on 2 February and wanted to make sure the business actually worked before expanding. I waited 5 months before making any big decisions.
Gross sales were:
February (from the 2nd): €646
March: €648
April: €631
May: €540
June: €584
So after seeing five fairly consistent months, I paid for 12 more machines (13 total).
The problem is that about halfway through July, sales suddenly dropped. July finished at only €597, and since then I’ve had days making only €10–15, whereas before I regularly had €35–45 days.
Nothing changed:
Same gym
Same products
Same prices
Same machine
The only thing that changed is the time of year.
Now I’m wondering if I made a huge mistake investing based on only five months of data, or if this is just what happens with gym vending machines during summer.
For those of you who own vending machines (especially in gyms):
Do you also see a big drop from mid-July through August?
Do sales usually recover in September?
Would you have expanded after 5 months, or waited a full year?
I’m honestly pretty stressed because I already paid for the other 12 machines, so I’d really appreciate hearing from people with experience rather than guesses.