ForEx traders on Instagram are in 90% scams. True or false?
With the rise of social media as information distribution platforms, a significant number of users started to treat social media (Instagram in particular) as a trusted source of data. A lot of people even use Instagram as a search platform instead of Google – sad but true.
Instagram influencers are now a valuable standalone advertising channel. However, there also emerged a number of fake and scam Instagram accounts. A huge amount of work is needed to separate them from a trusted ones. A good example is Prestige Option reviewed by Forex-Up: https://forex-up.com/broker-reviews/prestigeoption-review/
Obviously, in such a sensitive niche where your personal money is involved, you would like to avoid scammers. Let’s have a brief overview of that’s happening there.
Here is a short list of well-recognized forex traders on Instargram. If you are a Forex trading professional, you with no doubt know these names.
Kgopotso Mmutlane is also known as DJ Coach Tsekeleke. His Instagram profile @forexbrokerkiller is often copied in a fraudulent manner. Apart from lifetime fundamental signals and mentoring, he offers investment coaching.
He probably represents a typical forex millionaire Instagram profile: sexy cars, posh girls an tons of cash are supposed to seduce anyone and persuade to ask for his advice in ForEx trading.
A London-based agency AstroForex is also a typical target for fraud and fake-creating activities. The two founders, Shawn Lee and Aman Natt, run their own accounts as well. Here is the list of verified Instagram profiles:
Samir Tahir, known as FxLifestyle (or @FxlifestyleCEO in Twitter), offers mentorship, free and paid access to Forex trading signals.
Just like the most of our today’s heroes, he made a luxurious and posh photos the main content of his blog. The correct one on Instagram is @forexbilli0naire – and a number of fake accounts are present, as usual.
SDEFX Forex trading university, or “So darn easy Forex university”, combines several social media profiles – Vimeo, YouTube, Facebook and Instagram. The latter is @sodarneasyforex and is based mostly on motivational content.
Unlike the most of the accounts in our scope, FxPro is a worldwide-know Forex broker that operates in more than 170 countries all over the world. Surely, its social media profiles are constantly being copied and faked. The company weight, however, helps it to stand away from these fakes. The official Instagram account is @fxpro, just like the official website.
A notable difference is that the content itself does not include posh or luxurious selfies, but some useful trading insights instead. But who cares?
A 16-year old Londoner got unbelievable reach and, therefore, famous.
Born in North England, Tottenham city, he started with 150 euros – and eventually turned them into more than 60k. We didn’t manage to figure out his actual Instagram profile. This, however, should not frustrate anyone since such kind of lucky experience is unlikely to be something to be learned via Instagram.
Let’s keep diversity and give a short list of the famous women traders. Why aren’t they leading the top of the overall rating? Well, the reason is probably that the most popular Instagram trader accounts are those showing certain lifestyle that is well appreciated by male audience (which dominates among the Forex-interested people).
Here they are:
Their social media profiles are relatively easy to discover. For instance, Kathy Lien is also known as @successful_earning_steps on Instagram.
No list here. Why? Well, there is probably no reason in listing all the 90% of forex trader profiles on Instagram. Yes, it is that terrible. Just take a look at this black-listed brokers: https://forex-up.com/black-rating/broker/
Lack of authority check instruments, non-licensed operations and the audience specialties make the Instagram a perfect place to create a fake, though attractive and luxury-looking profile and start a persuasive attempts to grab money for non-existing trade signals, for sharing an “Exclusive Trading Experience” or, in a worse case, to redirect social media traffic to a fishing website that will probably steal you credit card info.
What we suggest is to look for a trusted reviews like these ones Exness raw spread account and have all Pros and Cons put altogether.
The key advice here is to be conscious and check as much as you can: websites, feedback, other social media profiles, etc – before following an unknown guru and putting your money at risk.