The relaxed routine of Instagram traders is bewildering, and it compels you to think whether they are legit or fake traders. Tons of questions encounter you when you see their luxurious lifestyle, well-edited pictures of lavish holidays, stacks of money, expensive cars, and much more.
How could Instagram traders spend plenty of time at celebrations, parties, sports, and posting many pictures on social media? Forex trading is quite complex and time-demanding. If they are real-time traders, how could they be so often on social media?
Let’s peek into: Why are there so many traders on Instagram?
With a few exceptions, most forex traders on Instagram are swindlers, flaunting their wealth and luxurious lifestyles. These scammers use Instagram for marketing, advertising, and selling their so-called “get rich quick with fewer money” courses, schemes, and signals.
Usually, Instagram forex traders are not real-time forex traders. They sell dreams by playing tricks on newbies while showing their flashy profiles and alluring schemes. You can evade such scammers by checking their main profile page and website link, whether they are registered forex traders or not.
However, fewer forex traders on Instagram are legit, with real-time educational websites, motivational content, and investing tips.
Stay with us to know more!
Are Forex Traders On Instagram Legit
The bombardment of forex traders on Instagram generates many questions in our minds. For example, Are forex traders on Instagram legit?
The precise answer is no; they are not legit. Most forex traders on Instagram are scammers or sell their courses just for money. Most Instagram traders are mere marketers and do nothing with real-life forex trading.
There is almost no legit trader on Instagram because most successful forex traders are not on Instagram or barely post content. If some post their lives, they aim only for marketing or advertisement.
Regardless, you can buy trading courses from forex traders but ensure they are legit and successful. Because how could you learn forex from fake and unprofitable forex traders?
Instagram Forex Traders Reddit
Should you trust Instagram traders?
Instagram traders are not real; they are scammers. Because Forex trading is a complex work. Traders remain busy all day long. They don’t have much time for taking, editing, and posting silly pictures 24/7 on social media like Instagram.
Even, real-life traders restrict their social media activities and don’t post lifestyle pictures on Instagram. They have more profitable use of their time in trading rather than waste it in pomp and show.
Forex Trading Real or Fake
The forex market is not a scam; it’s an actual trading market where foreign currencies are traded. But many scammers and bogus companies manipulate resources from beginners and innocent people.
Fraud traders take advantage of the convolution around the forex market. Malevolently hide the essential realities and information from the new and inexperienced individuals by claiming that their strategies or software robots will lead to success quickly.
The scammers usually charge high fees for providing information and predictions for profitable trading, declaring their information guaranteed for the newbies to make money fast.
How Do You Know If Instagram Traders Are Scammers
Four key points are essential before evaluating an investment in a foreign exchange scheme. Important things to look into:
- Do the traders have experience of 2-3 years in forex trading? If so, look into the evidence or proof.
- Do the traders have a business firm or a website or are they working through only different social media accounts?
- Does the provider of forex education or traders have the essential FCA credentials?
- Involvement with celebrities is not enough for credibility. Check the credibility of the review’s service and source.
How to Stay Safe From Instagram Forex Traders
While trying to protect yourself from scammers, keep in view some essential key points to avoid falling victim to Instagram scams. Such as:
- Never trust forex traders who exhibit wealth and luxurious lifestyle pictures to draw your attention.
- Before paying for mentorship or investing money, go to myfxbook.com to track trading records and registrations.
- Avoid Instagram forex traders and try not to invest in any Instagram forex trader’s account.
- Don’t permit anyone to manage and control your account.
- Many scammers declared it to be UK-based and even FCA-authorized.
- Check the FCA registration for authorized firms before trading with any firm.
To be safer, never use social media to learn about forex trading skills and techniques. Choose better options, such as reading books, using legit websites for understanding forex trading, or joining a community of traders.
Top 10 Forex Traders on Instagram
Many forex traders on Instagram have alluring profiles and how to get rich with quick forex, signals, and investment tips. Here is a list of the top 10 forex traders on Instagram.
- Samuel Leach
- Austin Netzley
- Walter Peters
- Sam Seiden
- Jabulani Ngcobo
- Millionaire Mentor
- Gustine Samuel
- Everything FX
- Trade 4 Wealth
Be wary; never follow forex traders blindly without investigating their credibility.
Top Female Forex Traders On Instagram
Forex is always regarded as the dominant male market. Few female traders have excelled in the market and risen to the top. The top 7 most remarkable women traders are:
- Kathy Lien
- Raghee Horner
- Linda Bradford Raschke
- Nelisiwe Masango
- Lucy Baldwin
- Abigail Johnson
- Jennifer Fan
A study reveals that most female stock traders often achieve fortunate outcomes and respond positively, whether they are gaining profit or losing money.
Frequently Asked Questions
Why are forex traders on Instagram so annoying?
There are so many forex traders on Instagram who continuously keep harping on their success and luxurious lifestyle. Instagram traders are swindlers and know nothing about real-time forex trading. They are only luring young and inexperienced people to invest money and try to recruit them.
How do Instagram forex traders attract novice traders and innocent youngsters?
Instagram traders attract novice and inexperienced people by posting jazzy pictures of expensive cars, celebrity friends, lavish holidays, designer bags, etc. They claim and guarantee very high profits daily with a bit of investment of money and time and get rich with quick signals and techniques.
Moreover, delivering “copy trading” is illegal without Financial Conduct Authority’s approval.
Are Instagram forex traders real or fake?
You can find hundreds of forex traders on Instagram. Most of them are fake, with a few exceptions. Because they are simply alluring to the newbie, promising high return profit if you invest money in them. They lack credibility because most have no license, registration, credentials, or qualifications to prove themselves legit or real traders.
The forex is a real and safe trading market if you choose the correct brokerage account and company. However, the so-called self-proclaimed Instagram forex traders are primarily scammers. The best thing to do with Instagram traders is to ignore them entirely.
To start forex trading, join a valid channel or regulated commodity. Be aware of the fraudsters who want to benefit from your naivety and claim that you can earn thousands daily with their teaching skills, speculations, signals, and predictions. Before investing your money, make sure whether they are licensed and registered brokers or not, and opt for a legit and genuine platform for trading.
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