Steve G. Jones link removed. Hi Dale, I have gone through the same situation like the others in IG. After reading all of this, yes a little too late to realize that I also have been scammed in great scale. I wish I would have come across your blog earlier. Hey Dale, there is a guy advertised as username removed on instagram who offers VIP signals. So far the signals seem to be worth while. But he also offers account management, so basically you hand over your mt4 account password.

This you transfer daily via bank transfer. What are your thoughts? Or he changes my account password in order to holdy account to ransom I should be able to reset the password. Based on his signals he seems to know what he is doing? In my opinion, it sounds like the oldest scam in the book. What you also have to remember is that often the brokers are in on these scams too.

They found ME, I never searched for them. They all just started DMing me and talking about what they do. How do they even target me?! Hi there dale. Could you please tell me what should i do?? Thank you 😊. Avoid it! The same applies to any similar account. I dm him after coming across his page.. In short, I was desperately wanted to earn money so that I can move out. So i invested and gave this person usd. She said she made and said the tax was After i paid the tax she would finalize the withdrawal.

On top of that she said she had to pay for a IMF certificate to release the funds. I sadly sent this person usd of money I loaned from my friend. Months have passed and I sent the money that I was suppose to pay rent with.

Now I am late in 2 months of rent and I do not know what to do. I am scared to get an evictions notice. I gave her and just a few days ago I blocked her on everything. Discovering that this person was impersonating a Russian Invester called Nastya. YT is Nastya Docs. It shocked me but I had to look up proof finally. a lesson learned. Now I am here struggling to flip into euros by the end of nextweek. Has anyone dealt with Layla Scott? Deals with a broker Microfxoptions.

Is the ID even a real thing? Thank you for this post. It has enlightened me a lot. I should have done my research but the ignorant me still believed somewhere out there it is really true even though my friend advised me not too. Stubborn me. It was me who found this person in Instagram. I do have a question. I learned the lesson the hard way. I totally ignored the messages. What do I do next? This person keeps telling me this investment is legit. I sent bitcoin, nothing happened.

Please advise. Thank you very much. DO NOT send them any more money. Is there any way to verify these proof of payments are true or not? Thanks for your website. There are SO many scams on the internet. If that were true, why the heck would people still be working at jobs?

Hi Dale, is there a page we could collect all the possible scammers or their methods to protect other people. Can you please check out an instagram account for me. He claims to have created a currency trading Robot. I was thinking to look for a demo account with indicators to assist me not to sign up with anyone from Instagram. I asked his name to google him and got no response. I think I really got the scammer shaking in his shoes.

I just want other people to be aware this guy exits. I have the usd is now and it was traded by the person that approached me she is now telling me to verify my account. Her name is Layla Regina she has the same pictures as layla scott and vlaims she is the original layla…has anyone had any contact with her?

I had been contacted by Instagram contact to join. I got Suspicious after hour and no deposit. I Realize they tried to take over my Instagram account so I changed the password and put in the 2 way factor. After that I saw where they tried to log into my Instagram account. So After that I let them know this is a scam.

And now if you log in the page its show up as malware. And at the same time they stole my info. Forex Scam. I met someone on instagram as well. Anyone heard of Live-binaryoptionstrade? I invested The trader said give her a week. Goes by Lisa Leslie on IG. After a week of trades now I have Im sure I got scammed. Why couldnt they just take the withdrawal fee from my account balance? She has been texting me daily to withdraw the money.

Its doesnt seem right. Do not deposit or transfer any more money. Instagram forex traders will show off the luxury lifestyle they have. Their videos will attract newbie traders who will look for a mentor or a course. Most Instagram forex scammers are in business to make money by selling their courses and account management services.

Instead of being a genuine trader, these fakes will take advantage of your curiosity and fool you into sending them money.

These fake accounts will leave you with no money and nothing to show for it. Forex Scams Instagram. January 7, Posted by Reviews. Related Post Forex Lists. What's in this guide? What are Instagram trading scams? Types of trading scam on Instagram Instagram forex traders. About The Author. Richard Berry Richard founded the Good Money Guide previously Good Broker Guide in and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global Man Financial.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. However, you may visit "Cookie Settings" to provide a controlled consent. Cookie Settings Accept All. Manage consent. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.

We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.

Necessary Necessary. Necessary cookies are absolutely essential for the website to function properly.

A mental step back, maybe a cup of tea, and a few moments of collected thought will probably lead you to some obvious if annoying truths:. But there are still some inexplicable outliers. Why, at the bottom of your friend requests, are there so many people who apparently made their fortunes from forex trading? And why are they wearing the same aviator sunglasses, posed against the same expensive but tasteless cars, looking out over the same sunset vistas?

And who carries around a briefcase full of cash, really? Forex is a portmanteau derived from foreign exchange. As a financial vertical, foreign exchange investment is traditionally in the form of arbitrage opportunities.

Sums of money are moved between different currencies in order to take advantage of small discrepancies in exchange rates, turning a profit. And their lavish insta-lifestyles are as fake as the opportunities they offer.

A typical example might look like: a forex investor exchanges USD to euros, then euros to Hungarian forints, forints to RMB, then back into USD, perhaps ending up with a profit of 0. With a 0. Forex fraud, thus, is any sort of malicious activity within the forex vertical. In a general sense, any activity where information was misrepresented, and that information led to a foreign exchange investment that never had a realistic chance of developing returns, could be considered forex fraud.

While there are certainly enterprise-level scams within the forex exchange community, the most common example of forex fraud for most people will happen in their social media channels.

These accounts will be fine-tuned to capture the imaginations of the vulnerable, touting designer brands, imported cars, exotic vacations, and of course inexplicable wads of cash.

The lifestyle shown will be presented as something easily achievable , or as an as-yet-undiscovered secret. With true marketing team savvy, the text will be optimized to be eye-catching, with exciting statistics and evocative emojis. In August , a BBC special recounted how unlicensed traders stole £3. At this point, many people might notice the strangely empty, movie-set-like quality of the posted photos.

If this at-a-glance marketing ploy is successful, a potential victim may start reading the content of the fraudulent forex trader. Their posts will promise huge returns on relatively small investments, taking advantage of newbie enthusiasm and pitfalls in trading psychology.

They might be willing to share the secrets of their success, provided you join their investment group — membership payable via BTC only.

From here, even without knowing that a huge return on a small investment is impossible in forex trading, all but the most impressionable will turn back. But the impressionable, the never-before-scammed, make up a significant number of people, and a significant potential return for fraudsters. After converting their fiat currency to Bitcoin and sending the initial investment, the victim will be invited to a group on a messenger app like WhatsApp.

Eventually, inevitably, the number will zero out, or nearly so. There will be no recourse for recouping the lost money. Cryptocurrency in general has no infrastructure to trigger an automatic reimbursement. Contacting the apparently wealthy original influencer will result in no solutions.

After all, that influencer was always just an affiliate marketer, posing for pictures in a lifestyle that an offshore, investment bank paid for. Social media-based forex fraudsters have settled on a working formula when it comes to enticing new victims.

By the same avenue that the internet and social media make the world smaller and closer together, so too do they connect the young and innocent with the cynical and malicious. Many of us learn our most valuable lessons through the process of trial and error. We might waste five dollars getting upsold, or get scammed out of twenty by trusting the wrong person. However, getting duped by a forex fraudster running a glorified Ponzi scheme is a decidedly more expensive first lesson to learn.

Keeping educated on the potential dangers and warning signs is a less expensive option, albeit less tearful and thus potentially less effective. Even if you have a skeptical brain from a lifetime of experience, shifting those experiences to social media can be a challenge. What does this look like on the side of platforms, exactly? There are ample examples, based on the industry. For example, in banking, digital onboarding can be a challenge because challenger banks look for the most seamless, user-friendly experience but they still cannot afford to become victims of fraud.

So the idea is to gather data at this stage and evaluate it behind the scenes. This applies to forex, too. Digital onboarding, authentication, know-your-user protocols, deposits, payouts, and several other customer actions can all be studied in real-time to assess how risky they are. A high score indicates a high risk of fraud. Similarly, here is a list of potential red flags that your brain should be considering when someone approaches you on Instagram with a too-good-to-be-true deal adjust your personal risk threshold accordingly :.

An unknown person reaching out to you offering a great opportunity is actually offering anything but. Characterizing an investment opportunity as either of these things is an obvious misrepresentation, and should be treated carefully. There may be only hours or days to become an investor, pressuring you into making a fast bad decision. Real-time data lookups give you a massive pool of information on any legit online persona.

You will find out how risk-prone this person is based on their device, connection details, and overall digital footprint, or if they appear on any sanctioned lists like PEP or OFAC.

If they have provided a fake name, you will see just how unrealistic the digital presence of Thick McRunfast is, and why they should not be trusted. And why should forex platforms care? Simply put, users reward good service, and punish those platforms that do not protect them.

At the very least, a platform may incur chargeback requests and consumer complaints. So everyone benefits from the prevention of forex fraud. Everyone except fraudsters, that is. Though there is no definitive way to ward off the occasional bout of gullibility, having a strong checklist for suspicious behavior is a good fallback plan when interacting online. Fraud-fighting technology provides a massive digital checklist, but the other half of the battle is making sure you have your own.

Select additional content:. GMT LON NY TKYO SYD Your email. First name. Last name. Trading offers from relevant providers. SIGN UP. Must Read Save The Date - Finance Magnates London Summit VIDEO: Seeing is believing. How do you take yourself from a gambler to a trader. Russell technical analysis. Bears just got faked out. Copper is the simplest investment thesis anywhere Russell technical analysis In 30 seconds.

She told me i needed to purchase bitcoin from my cash app and send it to her and so I get more of the profit back. January 7, They have texted me from 3 different numbers. This website is reader-supported. After an hour they mentioned that the server got hacked hence there was a huge loss.

Categories:

• Forex Bitcoin
• Forex
• Binary Options online
• Forex Brokers
• Binary Options