There are a number of Forex trading scams on Instagram. These traders use direct messages to lure unsuspecting users into their scams. They often tell their followers that they can make money with the market and that they will be paid bonuses based on the size of their deposits. The uninformed follow their advice and sign up with the broker they recommend. However, it’s important to be wary of fake accounts.
Often, these Instagram accounts are run by young people with a wealth of money and boast of making millions through trading accounts. They want to let you in on their life and claim to teach you how to do the same. The problem is that many of these accounts are scams and are not reputable. Instead, they aim to rip you off and give you all the tools and advice that you need to become successful with online trading.
These Instagram accounts are popular with a certain kind of young audience. These people pose as ultra-wealthy teenagers and post a lot of internet memes from movies such as Wolf of Wall Street. They aggressively recruit young people into a massive pyramid scheme that has raked in billions of pounds for big companies. Some of these scammers are actually working to get you to spend money illegally.