Instagram is a popular social networking platform where self-proclaimed Forex traders lure newcomers by promising to teach them how to make millions. These Instagram traders post pictures of luxury cars, celebrity friends, and fancy holidays. Moreover, they claim to be professional traders and want to share their experiences with their followers. Be careful if you follow such accounts!
Some Instagram traders claim that it is very easy to copy their trades and make money, but in reality, they’re only pretending. Most of them have swanky profiles and do not earn money from their trading. It’s important to research Instagram traders carefully. You should only follow those who have a high number of followers.
Beware of Instagram traders who recommend shady brokers. These traders are not only not legit, but also refuse withdrawal requests. IQ Option is one such broker. While it’s more legitimate than most others, it is also dead set against traders. You’ll lose PS250 with these Instagram traders!
Instagram scammers pose as influencers on social media, posting pictures of trading and Bitcoin. Many of the younger generation is interested in the crypto currency. They also seem to have a very supportive team. Fortunately, most Instagram traders are young and have a good support team. However, they may not be legitimate.
Instagram is a common place to find Forex trading scams. These scammers advertise on Instagram with the promise of huge profits. The scammers will advertise their courses and account management services, and their Instagram accounts will show you the profits. Then they will drain your trading account and your money. Remember to use two-factor authentication codes to protect your account.
Some Instagram forex traders post pictures of a lavish lifestyle. This piques the interest of newcomers who then search for courses and mentorships. Unfortunately, these Instagram forex scammers are scammers and only exist to profit from you by selling you a course or managing your account. So, it’s important to research the information before you invest in the forex market.
Oyefeso is an online sensation. His videos have hundreds of thousands of views. Some of his videos show him buying expensive cars, boarding private planes, and posing next to a Rolls-Royce. Another Instagram picture of his is of him next to a blue and silver Rolls-Royce with the words DCT.
If you have any doubts about a Forex trading scam, it’s vital to check the company’s licensing credentials. Those with a license to provide financial advice are a safe bet. A reputable broker will offer you advice based on their experience and knowledge. Similarly, you should check the terms and conditions of a broker before making any commitments.