There are a number of ways to spot forex trading scams on Instagram. The first and most obvious way is to look for fake accounts. Most of these accounts will post pictures of young and attractive people in exotic places, posing as influencers. They also have the tendency to post pictures of fake deals. Be very careful when dealing with Instagram accounts, and don’t give any personal information to anyone without verifying the information first.
It’s important to note that most people who post live videos on Instagram are not actually forex traders. They’re probably just promoting their courses or mentorship services to new traders. Instead, look for a forex pro that can help you separate the fakes from the legitimate accounts. If you’re unsure whether or not a certain Instagram forex trader is legit, ask your friends and colleagues for referrals.
If you’ve been following forex traders on Instagram, you’ve likely noticed that many of them post lavish lifestyles that attract newbies. These pictures often peak the interest of new traders who seek to learn the trade and then follow their mentors or take their courses. The problem with this approach is that most of these Instagram forex traders are actually scam artists and make their money through selling courses and account management.
Another common scam is when people pretend to be legitimate forex traders. In one case, a man who claims to be an authorized forex trader has hundreds of followers on WhatsApp. In the end, he’s just waiting for the right moment to make his scheme work. Sadly, many people have fallen victim to these scams.
Instagram is also a popular site for fake public figures and influencers who are using Instagram as a tool to lure people into trading with them. These scammers will approach people following the accounts and engage in conversations with them, often involving money. The scammer may even offer you tips on how to build wealth.
One of the most common forex trading scams involves a company called One Two Trade. This company is based in Malta and does not have a financial license in the UK. It takes a cut of every trade. It also offers extremely high commissions to lure young people into buying into their trading scheme.