If you’ve spent any amount of time browsing through Instagram then you’ll have no doubt come across those Instagram Forex trader accounts.
They’re typically run by young guys or girls who all suspiciously seem to own (and showcase) an Audi R8 – and they all claim to have “easily” made millions through trading accounts online.
But on top of just showcasing the lifestyle, they’ve allegedly been able to achieve from Forex trading they apparently want to let you in on it too… And they claim that if you sign up their program they’ll show you how you can also make millions from online trading too.
According to them, it’s easy, and according to them, anybody can do it – even if they’ve never traded before (which is an insanely bold claim).
But what’s the truth? Can you really make money with these Instagram traders or is the whole thing just a scam? And if it is a scam, how are they actually making their money? Let’s take a look…
Instagram Trader Accounts Explained | How Instagram Traders Really Make Money | The Primary Targets For Forex Scammers | The Potential Dangers | The Bottom Line | A Better Alternative
Instagram Trader Accounts – The Concept
The way you’ll likely have come across one of these Instagram trader accounts is via a promoted advertisement, which typically consists of an image of the account owner stood by, or doing something luxurious accompanied with a message like the one shown below:
Now the thing that makes this extremely suspicious is the fact that the post is a promoted post, which means the account owner is literally paying out real money to have that post displayed in front of you…
So the first question you have to ask is WHY is the account owner so desperate to “help you make money” that he/she is willing to pay for it?
I mean if the guy (or girl) in question was just selling training on how to trade & being open about it then fair enough – they’re running a business selling training, they’re advertising it & they’re making money from the people that are buying into the training… As long as the training’s good, everyone’s happy…
But that’s NOT what’s going on here…
This guy and the many other Instagram traders like him are literally saying that you can just copy their trades – so how does he and the others make money from that if you’re not actually paying him anything?
Well, the truth is (as you’ll soon see) these so-called Instagram traders are not actually doing any trading at all – instead they’re just faking it to trick you into signing up for a borderline scam so that they can earn some money at your expense.
And more often than not despite their profiles being jam-packed full of luxurious images many of these so-called millionaire traders are actually flat-out broke.
That was recently proven when an article published in the Guardian revealed how one “millionaire” Instagram trader named Oyefeso who apparently owned multiple supercars found himself in court with the judge remarking “[you] portrayed yourself as a very successful trader within the financial market. Clearly this is not the case.” after he chose to run over a friend to whom he owed money instead of simply paying him back.
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How Instagram “Traders” Really Make Money…
As mentioned above the majority of these so-called Instagram traders are not actually doing any trading at all – and whilst some of them may indeed be doing a little bit of trading, that is not where the primary source of their income is coming from…
The primary source of their income is actually coming directly from the people they manage to sucker in to “copy their trades”…
You see these “traders” are essentially just affiliates of online brokerages like IQ Option & this means that these brokerages are basically paying them commissions for getting new people to sign up & deposit.
Now in itself, there’s nothing really wrong with being an affiliate – providing it’s done legitimately. I myself am an affiliate & that’s how I make the majority of my own income online – and you too could become a successful affiliate with the help of a platform like Commission Academy…
But the problem here is that these “traders” are doing the whole affiliate thing illegitimately.
First of all, they’re not telling you that the way they actually make their money is by being an affiliate of the brokers and NOT by trading – so essentially they’re tricking you into signing up to the platform… And secondly what they’re not telling you is that most of the brokers these guys are affiliated with are borderline scams (some are even flat-out scams) and that you’ll be MUCH more likely to lose money than actually make it.
You see the brokers these Instagram traders tend to affiliate themselves with are all often binary options brokers – and despite reviewing literally hundreds of different binary options brokers & systems I’ve never actually seen so much as ONE single person successfully manage to generate sustainable profits from binary options.
And out of the hundreds of brokers/systems, I reviewed it’s safe to say that around 99% were flat-out scams designed to purely steal money & the other 1% were “borderline scams” that did indeed pay out, but had the odds of winning massively stacked against you.
In fact, the whole thing is so bad that the US decided to completely ban binary options trading – and due to its insanely high risks, the UK had previously classified it as gambling rather than actual trading.
Forbes too even published an article warning about the dangers of options trading as shown below:
They’re Preying On Young Adults With Little Financial Knowledge & a Burning Desire For Success
Most of the so-called Instagram traders just so happen to be 18, 19, 20 or 21 years old… It’s very rare that you see many of them older than this & it’s exceptionally rare to see any above the age of 30…
The reason? Because most people 25+ are a little wiser when it comes to finance & they would be much more reluctant to jump so easily into something like trading as they’ll likely know that more often than not it’s losses as opposed to wins…
The truth is that nothing comes easy with trading – and those that do indeed make money from it often spend their entire days glued to their PC checking the markets… It’s not an easy game at all, and it’s a game where everything can also be lost just as easily as it can be gained.
Affiliate marketing (which is how these “traders” really make their money) is much more straight forward, there’s much less risk & it’s much easier to build up a sustainable source of income for the long term.
Therefore if done right affiliate marketing can be a MUCH better (and safer) way to make good money online – and if you’re interested in starting with it do be sure to check out the free platform Wealthy Affiliate where you can learn much more about it.
But yeah, basically these Instagram traders are all young because the way they’re getting people to join their “scam” is by getting them to relate with them.
What 18, 19, 20-year old etc doesn’t want success? Who at that age wouldn’t love to have a supercar or a house paid off?
Most people of that age would love nothing more than an easy way to make a lot of money, and when they see an image in their Instagram newsfeed of somebody the same age as them who’s allegedly done it they immediately become curious & want to find out more.
The next step they’ll likely take is to hit the follow button – they may be curious but at the same time they’ll still likely be sceptical.
However once that follow button has been hit the account owner will often immediately send a direct message to the user trying to encourage them to get on board.
“All you need to is £250 to get started”…
“Just copy my trades, you can’t lose”…
Those are the types of things these Instagram traders tell their unsuspecting “victims” & when the curiosity of the user overpowers the scepticism that’s when the problem arises. They sign up to the broker the “trader” recommended, they deposit the £250 as they’re told & from there they’re left to find out the hard way that the whole trading thing wasn’t so easy after all.
Sadly though even if they still have funds left within their trading account most of the brokers recommended by these so-called Instagram traders are flat-out scams & one way or another they’ll refuse the withdrawal request.
Some, like IQ Option, are “more legit” – but ultimately if you read my review on them you’ll see how the whole thing is dead set against you… And whilst they may pay-out, it doesn’t seem like anybody ever wins anything to actually get paid out!
Regardless though the Instagram trader doesn’t care – he or she will simply block your account if you hit them up with any comeback because the second you made the deposit they already made their money from you. The broker will hand them a shockingly high commission for referring you (sometimes in excess of £200) & you’ll just be left to feel frustrated with no obvious way of getting your money back.
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Sometimes Though The Scam Can Be Much Worse
Losing £250 to an online scam sure as heck isn’t nice, but if you get caught out by the Instagram trading scam & manage to get away with only losing £250 then you might want to actually consider yourself pretty “lucky” as some people have ended up being scammed out of tens of thousands of pounds.
How? I hear you ask…
Well upon depositing £250 to the brokers sometimes the broker will just see all your trades lose & have the scam over & done with – however other brokers can be much more cunning & can actually fake your profits to get you to deposit more.
This one story I previously published of what a binary options scam did to a single mum showed that rather than trading as she thought she was, she was essentially just playing a video game via the broker.
Her account wasn’t connected up to the markets at all & all of the profits/losses shown were being manipulated by the broker to make her think she was profiting. She was even assigned an “account manager” who regularly encouraged her to deposit more & more to see even bigger profits…
And it would be easy to get carried away with the deposits if you truly believe you are making so much money – but sadly when she came to make her withdrawal she was left to find out the hard way that she was not.
The whole thing had been a lie & tens of thousands of pounds later she was only then left to discover that she had actually been scammed.
So basically, in short, the brokers these Instagram Forex traders recommend are just set out to take as much cash from you as possible, and more often than not the Instagram traders themselves are set out to get you to deposit as much as possible because they are often paid higher bonuses based on how much you deposit.
Ultimately it’s all bad news.
Don’t Fall For The Instagram Trading Scam
When it comes to this Forex trading scam on Instagram the saying “curiosity killed the cat” couldn’t be more relevant. That’s all these so-called “traders” are preying on – your curiosity, so they can trick you into depositing via a broker that’ll pay them a commission at your expense.
I mean sure these guys are very good at making it look like they are genuinely making money from trading but ultimately with social media, it is very easy to create an imaginary lifestyle & that’s all these guys are doing.
So the next time you see a so-called millionaire trader on Instagram that wants to help you make money just give him (or her) a wide-berth & for any of your friends that get interested, just send them over to this post!
In fact, if you enjoyed this post or found it insightful into how the Instagram trading scam actually works then do me a favour & share it on your social media anyway – let’s expose these guys once & for all & stop them taking advantage of other unsuspecting victims.
And if you’re still looking for ways to earn good money online legitimately, then check out my top picks right here.
A Better Alternative
The sad truth is that unfortunately most of the programs promising to help you make money online are scams. I can say that confidently after exposing over 500+ of them here on this blog.
But the good news is that even though most of them are indeed scams, there are actually some very good programs in amongst them - some programs that can truly help you to earn money.
And out of all of the legit programs I've seen, the one I would recommend the most to anybody looking to get started online is Commission Academy. In my own opinion, that's the best place to start.
At Commission Academy, you'll be provided with everything you need (including the training & tools) to begin earning real money by promoting products or services for companies like Amazon online.
The best part is that there's literally no limit on the amount you can earn with it & the process is pretty simple which means that it's absolutely perfect for people that don't have much experience.
Some wealthy affiliates even earn as much as 5-figures per month... Or more!
I mean don't get me wrong, that kind of money won't just fall into your lap without doing any work... But the harder you're willing to work at it, the more you stand to earn with it.
So if you're looking to get started but don't know which route you should go down or which program you should join (and don't want to waste money on bogus things that don't actually work), then I'd highly recommend checking out Commission Academy first. You can learn more about it here.
hi, I have been scammed by an Instagram so-called forex trade but I need my money back is there any way I can get my money back please reply me thanks.
Hi Shakil – I’m sorry to hear about that. Could you provide more detail of exactly how the scam went down? I’d really appreciate it if you could & I’m sure many others reading this post would be interested in hearing your experience too. With regards to getting your money back I would suggest contacting your bank for assistance as even if they can’t help you directly they will generally be able to advise what steps you should take (such as reporting etc).
I have been scammed by ANNA MACKO. SHE ADVERTISED for crypto currency course which costs over 2000 $. She is very professional scammer. She started by saying you send 300 $ then reduced it to 100 $ and will give full access to her programs. She lives on your 200$ and my 100 $. When I asked her to pay back the 100$. ” I am not a machine ” is her answer. Then I start saying that you got 100$ but any thing can happen to you on your flight or car accident or or. She deleted the conversation and blocked me. The other scamming trick she tried is after she got 100$ she tried to get more and and.
Dale why you do not make it clear that Anna MACKO is scammer. To help others and save them from her terrible scamming technique. Shame on her. No millionaire behave very low like this. Thank you
Hi Hany, I’m sorry to hear about that but would like to thank you for sharing your experience here to help others.
Hey – you have been scammed by a fake account – follow the trail – you will see it was not me. Some monsters are using my photos/videos to scam people – I made a youtube video about this. Stay safe, and please don’t accuse me of things I did not do. If you follow the trail you will see this was not from my account – some scammers are direct messaging people using my name/photos and usually they have some fake website they tell you to send bitcoin to – please be safe out there from these sort of predators. I have been posting on my instagram about this. If you want to talk to me, email me with my professional email (not gmail) and from my official accounts. Thanks Anna
is it forex trade .global by mark harrison??
Please my account verify
I’m sorry but I don’t understand what you’re asking/saying – could you expand?
My case is worst, 4 trading experiences with different people i thought i could trust. but everyday they were either asking me to pay for a license, a tax fee, support of account and much more. I just wish someone legit can direct me on this. trading is something i love with so much passion. am happy for the experience and i believe i know so many things now in the trading world
Alpesh Patel go onto
His LinkedIn
Greetings, after reading this I beleive I may also be in a scam . I’ve met a trader via Instagram, I’ve deposited a certain sum for the account,and was later encouraged to make another deposit of for an account upgrade. Ive done both and now to make a withdrawal I need to deposit 10% of the total account to the broker to commence. Your thoughts?
Hi Jonathan – I’m sorry to tell you that yes, it sounds like you have been drawn into the Forex scam. I’d advise you NOT to deposit any more money, even if they claim that after depositing you’ll be able to withdraw (because that’s just a further part of the scam to get more money from you).
hi dale
i had deposited 5000 usd and now she ask me to add more for faster trade but i saw a lot if people commenting and had their money back
and keep saying she is honest
how to trust?
i even talk to that person and she said yes u can trust her and so on
Unfortunately the scammers have associates who pretend that the trading has worked for them as this lulls victims into a false sense of security & encourages them to deposit. It is just like a street-scam where the scam artist has a crowd of people cheering that they are winning to trick passers by into participating, however they are all in on it with the scammer.
Hey Dale.
There is this guy named Daniel
We had a long conversation over Whatsapp and i joined his Free myTeachable course. I registered an account on CityIndex. He told me to deposit an minimum of 250€. Is this trustable?
Hi – before you proceed ask to see his license & then check it exists on the authorities register. It’s a requirement by law for anyone promoting investment opportunities to have relevant authorisation. Also if you were provided a specific link to sign up to the broker via then I would give it a wide berth as the referrer will be earning money at your expense, so it’s generally not in their interests for you to profit.
Hi.
This happened to me I feel so stupid! Initially deposited £500 For a trade she then cane back and said that the trade had sky rocketed and I would be getting £30,000. Alarm bells did ring but I am saving for a postgraduate and thought that this would be perfect!! Then came the trouble… she said that because I only invested a little amount and that the money had skyrocketed the trading platform needed release fees of £2000, the next day this had gone upto 2500, a couple of days passed and there was another problem she needed another 1500, she said that she would pay the 500 and waive her interest on the money as it had taken so long, I was skeptical and she ensured that after this payment the trading platform would send me a receipt of all the fees I had paid, they would refund the fees and the money would be released into the account. Within an hour of me sending the money she has blocked me from messaging her and also on Instagram. I feel so stupid, in total she has taken £4500 Of my savings. So I’m back to square one saving for my postgraduate. She is still active on Instagram as I have checked from different account. Just feel like an absolute idiot.
Hey if you don’t mind me asking what’s the account on Instagram as I feel like I had the exact same happen tonight. I’ve asked for a full refund waiting on response
Do you know her handle
I’m
So sorry . I was approached on d duplicate Instagram of a legitimate account. He taught me how to create a Bitcoin account step by step and then same story.. told me to deposit £2000 I told him I have no money as I just came from
Holiday in Dubai..,anyway he asked me to upgrade to a gold package ( minimum
Deposit required $5000) and add more money even waiting a month ! I checked the website which was not licenced and read scam reviews and knew it was being duped, I lost £2000 and I count myself lucky the scams are getting sophisticated so always check their background
I just want to know if this account is scamming me on Instagram I have paid him 250 and he made me 10k no is on my crypto account but he said that I have to pay for tax payment 10% of that money is he is scamming me or not
And his Instagram is *account handle removed*
Yep, it’s definitely a scam… Don’t hand over any money.
Hi. I find on internet Instagram Certified and licensed Forex/Crypto Expert David Charles (link removed), he advice me to send deposit to Broker Fxaccord (link removed) and David Charles ask me only my email address what I enter on webpage Broker Fxaccord and than he trade with 500 EUR what I send Broker on my account for me. There is now profit about 20 000 EUR. He told me that I withdraw profit, but before I must Broker pay tax profit 2 000 EUR. He don’t tell me this earlier from the beginning of our conversation when I ask him if exists any expenses except for deposit, because I don’t have more money. I search on internet more detailed and find that pictures of person David Charles on Instagram is another person name Dr.Steve G.Jones (link removed).
Hi Ana, I’m sorry to hear you got caught out by this but thanks for sharing your story. I’ve removed the links in your comment to protect people reading this post from clicking through to the profiles & also getting caught out themselves (as it’s happened in the past). Of course, it comes without saying that the “tax payment” is just an additional part of the scam, and that you should certainly not pay it. It’s just “David” once again trying to extort more money from you.
Hi Dale,
I have gone through the same situation like the others in IG. The initial investment started with $500 but more additional fees came along including DNS activations, Server errors and even Custodian Dividends before funds were confirmed. 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.
I’m really sorry to hear that Andrea but grateful that you have decided to share your experience to help others here, thank you.
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. He trades your account and takes 50% of the profits made. This you transfer daily via bank transfer.
I’m tempted, and my broker says that he can’t withdraw my money from my account as he only has access to my trading platform(he has no contact with my broker and has no idea who my account is with just as a note so he has not asked me to deposit with him). What are your thoughts? My concern is he trades my account to 0 or turns my account negative and I’ll owe my broker. 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?
Hi TR, what you have to ask yourself, is if he could truly so confidently generate profits in your account, then why would he not just trade with his own money & generate profits for himself? Why is he having to run an “account management service” and charge for it to earn an income, instead? 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. Most legitimate brokers would advise NEVER sharing your password with anybody else, so it’s very alarming that they’re even discussing it with you. Lots of red flags here as far as I’m concerned.
I’d avoid it, 100%.
I’ve been contacted by about 5 different people on IG claiming to be forex traders. They found ME, I never searched for them. They all just started DMing me and talking about what they do. I’m assuming they’re all scammers? How do they even target me?!
They generally find profiles via hashtags or via what posts you’ve liked or commented on etc. It’s actually very easy to target specific demographics as a business user on Instagram.
I’m glad I found your page. I’ve been messing with these people lol I make them believe I’m falling for their scam and then give them hope and then turn them down 😂 That’s what they get for wasting my time trying to scam me! lol
This guy on Instagram is scamming my sis asking her to deposit 2000 us to get 5000; and no matter how I told her it’s a scam she going ahead with it.
Madness.
Hi there dale. I came across an instagram page namely (ctp_fx , having an instagram following of 260k ) and they are offering so called forex signals and i have to copy them and can make profit. Could you please tell me what should i do??
Thank you 😊
Avoid it! The same applies to any similar account. Just because an account has lots of followers it doesn’t mean it’s any different, it just means the people behind it are more effective at promoting it. Don’t get suckered in. If it was really as easy as to simply “copy & profit”, everybody would be rich & nobody would be left working a job. All you’re buying is a dream.
Thanks for helping out mate!
I’ve been talking to this person on IG (username removed). His profile says Certified Account Manager, Manages Trade accounts, Binary & Forex trader.
I dm him after coming across his page..its not flashy like all the other so called Trade Account Managers, he has photos of himself or his family and a few photos of “clients” when they bought new cars with their money earned…which is what made me think he may be legit unlike the others because he also tagged the persons in his photos.
When i asked for a guarantee of some sort that this isnt a scam as I’ve seen alot of ppl saying they’ve been scammed he said ” Our trade is 100% guarantee we assure all our clients safe withdrawal”
He told me to sign up on (website removed) , buy bitcoin on Paxful and deposit it to the company page (website removed) and he would pick it up on his end, he didn’t need my password just my name.If i deposit $300 I will earn $2,810 in 7 days.
Based on some investigations I’ve been doing I decided to ask him earlier today to please provide me with a copy of his certification, a photo of his live trading screen, his full name and email address and his FB or LinkedIn profile, so that I can confirm he is a real person incase this is a scam.
He’s read my message but has not responded.
Am I right in assuming this is a scam as well?
Yes, of course it is.
Hi, I recently got scammed by an IG account called Katherine_G_Horton.
In short,
I was desperately wanted to earn money so that I can move out. So i invested 300 and gave this person 300 usd. She said she made 5444 and said the tax was 625. After i paid the tax she would finalize the withdrawal. I then waited a long 14 days for my withdrawal and her reasons for why I didn’t receive the withdrawal was because my bank account has not received so much money before n because it was an international transfer.
So now I paid 300+625 and my dumbass paid for a retrieval form of 585 so that I can receive the cash via bitcoin.
On top of that she said she had to pay for a IMF certificate to release the funds. I sadly sent this person 400 usd of money I loaned from my friend.
Months have passed and I sent the money that I was suppose to pay rent with. I thought I could’ve made a sacrifice for my investments but I was being made a fool of the entire time. 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. My the rent that I owe now is 340×2= 680 euros..
After the IMF the person sent the 5444 via bitcoin
But then the transaction didn’t came in and then she added a new fee for 765.
I gave her 400 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.
Sigh…. a lesson learned.
Now I am here struggling to flip 100 into 700 euros by the end of nextweek.
“Flipping” 100 euros into 700 euros isn’t possible. If it was, don’t you think everyone would be rich? Why do you think people work long hours at jobs they dislike if they could simply “flip” money? Stop looking for silly ways to make money that don’t require work & either sell some things you already own, get a job, or actually put in some work in return for money.
Has anyone dealt with Layla Scott? Deals with a broker Microfxoptions. She’s alleging after she set up my account with a $500 deposit, which she turned into 18k, I can’t get it because I don’t have a Forex ID. She “knows a guy” that makes them for 5000 though! Is the ID even a real thing? Oh, and because she made so much, I also need an upgrade through the broker for $3000.
No, Dave – it’s a scam. Avoid it.
Hi I also fell for the Layla Scott scam amd have put down 4014 dollars is there any steps I can take to get it back, Im an active duty military member and can’t afford to loose the money
Hi Dale,
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 am ready to forget it and moved on, forget the bitcoin amount I’ve sent. I learned the lesson the hard way. This person kept insisting that I will need to send $500 worth of bitcoin so I can FINALLY have the withdrawal. I totally ignored the messages. What do I do next? This person keeps telling me this investment is legit. It started with initial investment of $300 then I need to do the upgrade, then I need to pay the commission and the tax etc for me to be able to do the withdrawal. I sent bitcoin, nothing happened. Please advise. Thank you very much
You mentioned that you are ready to forget it & move on… Well, unfortunately, that is pretty much all you can do. DO NOT send them any more money.
Brene Martin IG cleaned me up for being stupid
Can you share or elaborate more? Been trying to find info if she is a fraud/scam.
“cleaned me up” essentially means “took my money”.
Hi Dale, on Telegram, Real_Forex_Traders
claim to give 10x payouts which is unbelievable but they also post what they say is bitcoin proof of payment to investors. Is there any way to verify these proof of payments are true or not?
If it is a total scam why haven’t they been shut down a long time ago from complaints?
Thanks for your website.
“which is unbelievable”… You answered your own question. Many people sadly think with the mindset “if it is a scam, why hasn’t it been shut down?” & the reason is simple. There are SO many scams on the internet. It’s not possible to police every single one. Don’t fall for anything that sounds too good to be true.
Can you look at the Instagram account: brene_martin? I’m not sure if it’s a scam or not as there are a lot of believable things on there.
It’s one of the most obvious scams I’ve seen so far. There is nothing believable about any of that, all it does is scream “too good to be true”. For example, an 85-90% winning rate is claimed. If that were true, why the heck would people still be working at jobs? Don’t fall for that crap, be better than that.
Hi Dale, is there a page we could collect all the possible scammers or their methods to protect other people
Well, this article explains the method & advises that people avoid it?
Can you please check out an instagram account for me. *named removed to protect readers* is his user name. He claims to have created a currency trading Robot. He’s claiming to make millions with his software. I even said to him, “if your making all this money why are you wasting your time on Instagram?”
I do currency trade myself on a normal platform. 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 also told him I have an attorney and I’m sure he will want legal proof of domicile along with identification with legal contracts to be signed. I think I really got the scammer shaking in his shoes. I just want other people to be aware this guy exits. BEWARE
Again his screen name is *named removed to protect readers* Instagram
Hi Joe, yes I can confirm that is a scam account.
Hi i have transfered 600usd to multifxoptions via bitcoin is this broker a legit one?
I have the 600usd is now 14000 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?
Hi Mrs CEO, it’s not legit. I’m afraid it looks like you’ve fallen victim to a scam.
I had been contacted by Instagram contact to join. Tradegainscrypto they said they would put $500.00 in my account and then it Turned in to $5,600 After I did all they said they said they would deposit in to my cash app. 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 1500. The trader said give her a week. Goes by Lisa Leslie on IG. After a week of trades now I have 36000. I tried to withdraw to pay her a commission of 15% from that money but the site sent an email saying I must pay 3500 before they can release the funds. 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.
Yep, unfortunately, you’ve fallen victim to a scam. Do not deposit or transfer any more money.
Hey Dale!
So the same happened to me but luckily my money is back, someone on instagram had dm me saying she works for forex. She tried to persuade me to join and everything and what was weird was that she asked for my whatsapp number. I didn’t think through and decided okay and we had chat on whatsapp. I was having a weird feeling that it might be a scam but not sure. 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. After that she told me I need a pin since I was suppose to get back 15,000 and I am guessing she has hacked my instagram and she changed my email and everything. But I wanted to ask is this really a scam. Also Im not worried about my instagram as long as my money is safe.
Yes, of course it’s a scam.
Hi Dale,
Recently I met someone on the Instagram account called “Kyra trading”. I have invested for RS.5000 however after that they asked to send a security deposit of RS. 15000 or else I will lose the money. After an hour they mentioned that the server got hacked hence there was a huge loss. then, they asked me to send 25000 as a transaction fee. now they are asking me to send me 50000 as a processing fee so that they will transfer all the amount with profit with 2 mins.
so I have paid a total of RS.50000 :'(.
Am I right in assuming this is a scam as well???
Hello Kaushalya, unfortunately, you are also right with your assumption that it’s a scam.
Hi Dale,
Your article is really helpful! A trader by the name of ‘Jay’ randomly messaged me asking if I was interested in forex trading. I know a few things about forex trading and I’m interested in it, but haven’t done any trading as of yet. I asked him a few questions and he said he’s part of a market analysts group which sends signals to their clients everyday to help them start trading. He said clients would need to sign up on their website and initially start with 300-500 pounds for the trade and then trade whatever amount of money I’m comfortable with.
I haven’t signed up or sent any money and I recently asked him what company he is part of and what’s to stop him from copying other people’s signals and passing them off on his own. I’m still waiting on a response from him (he hasn’t checked my message yet), but I want your opinion on the matter. Thanks!
I forgot to add, he explained he helps his clients for 3 months for free and then after that, if his clients decide to stay on, it will be 39 pounds/month to continue receiving signals and that clients can cancel at any time.
He’s not helping anybody for free. He’s getting paid a commission from the broker when you make a deposit. It’s a con, exactly as I’ve described in my article above.
Hi KN, what you described there is exactly what I described in my article above. It’s a con & should be avoided.
My friend showed me this guy on Instagram called “luuivee”, I believe his name is Luis Alfaro, and it seems he works for a company in California called “All In Trading Group”. There is no mention of this company anywhere on his Instagram besides a link to his website.
Originally he was asking for minimum of 5000 dollar investment into the lqdfx broker, and for me to create an account and give him my username + password so that he could manage my money through some sort of system and send me 800 dollars every week to a bitcoin address on coinbase or cash app. We even signed a contract outlining this and other terms. When I first saw this investment opportunity, luuivee mentioned in a post that there was only a day or two left till the minimum deposit was raised to 100,000. Once I funded the account, he sent me a message saying that the system was down and they had to fix it. It’s been over two months since then and I just have that money sitting in my lqd fx account. I messaged him about updates to the system and he said he’d let me know when it’s done.
He stopped messaging me for a while until recently about buying an ai bot for 1500 and putting in 1000 dollars as a deposit to trade on lqdfx. No mention at all about what I originally invested 6000 for. Also, now he has a post on instagram saying there is only a few days left before the price of the bot goes to 2000.
At this point, I’m worried this is a scam. My money is still in lqdfx and I’m pretty sure I’ll be able to withdraw it even though i haven’t tried yet. I want to take the money out but I’m afraid to encounter legal action becasue the contract was supposed to be for 3 months. Do you believe this could be a scam? If you are on Instagram make sure you type in “luuivee” exactly, as there have been impersonators with slightly different names.
Hello Sameel, the answer is yes – unfortunately that is a scam. You can attempt to withdraw your money but there is no guarantee that you will get it back. Many of the “brokers” that these guys refer to you are simply rogue outfits.
Thanks, hopefully I can get my money back.
I have my fingers crossed for you.
You had me until you mentioned “wealthy affiliate”, you’re just as bad as those scammers, shame on you for promoting that BS out of date system.
Out of date system? It’s a free-to-join course that teaches affiliate marketing & has new training published every minute of the day. Affiliate marketing is growing faster than ever, your loss if you miss out whilst everybody else gets involved.
Hi. I’m looking at this guy called spencerrmax on Instagram. I’ve investigated him and I’m quite tempted to go through with his offer. Could you help me out. He uses T4trade as his broker and ticks all the boxes you mentioned. Luxury car. Travelling. And offering to share his trades as long as I deposit into his recommended broker
It’s obviously a scam, it meets the exact criteria I specified in the article above. Why on earth would you be tempted to go through with his offer? 🤦♂️
Hi, i met this so called professional stock trader. He said members will be earning money daily while working remotely with only $20 as starting capital. I was intrigued since it didnt cost much in my case. He’s active on instagram, he posts stories and his feed is I must say has a bit of a luxurious lifestyle to it which includes his face on places he’s visited which is pretty cool. Can I trust this guy?
he also posted in his highlights about his trading with other members earning money with their positive response to what they’ve earned.
Often these people are parts of organized crime gangs, don’t be fooled by “testimonials”.
No, you can’t trust him – please read my article above to learn why.
Dale,
This is super new to me…so I’m glad I came across your page.
Full disclosure: I can’t find ANY (Google) details about this sort of “potential scam” I came across…and what’s worse…I can’t think of what may be wrong with it.
But then again – I am terrible at trusting the wrong people. Hahah…ugh.
So here we go.
I came across a Forex trader who just wants to use my account to “dump off profits” he has made through crypto currency.
He claims that since he is in the UK and I am from the US, he needs to move his profits from his Forex account to my active bank account. He told me that when it clears my account…all I need to do is go to an ATM and take out 60% …and then deposit that into a Bitcoin machine and sent it back to them via cash.
Seem too good to be true, right? I keep 40% of the deposit for a simple ATM visit? Hmmmm…so of course I was skeptical.
So I told him exactly that – I was SUPER SKEPTICAL, what’s the catch? Etc.
And he basically said – Look. I understand how hard it would be to trust me. Go ahead and empty your bank account. I don’t want any of your money…there’s no upfront money….you are just helping me move my profits…and for that, you get a hefty cut.
So now Dale, I must ask….WHAT IS THE CATCH? Is this legit? If I help him, am I going to jail?
Or did I maybe find one of the “good guys” ? HA….but seriously….
~ Bucky
Hi Bucky, yes, you will be highly likely going to jail if you assist with that. It’s known as money laundering & by letting them use your bank account you would essentially be facilitating it which carries a heavy sentence.
Yeah. I guess that was the ONLY thing he didn’t cover his tracks on…haha…
Thanks, Dale!!
Hello
There is one insta user
She given offer if I invest 10000 return within 40 min 32000 some bitcoin trading. This is her message
“If you invest ₹10k right now u will get back ₹32k in Just 25-40 min so are you ready to invest now and get profit!?”
she sent her details
I sent my amount to his account around 1 o clock after that 2.30 she told processing is done send 15k then u will get full amount within 10 min this is her text message
“Okay dear all done We are sending this in your account but here our some security deposit charge 15k that’s you have to pay first for security purposes because Bitcoin is international trading they are sending you your money but they want some varification”
She taken my pan card details and address.
Still she is telling same thing please someone help me to get back my money please for me it’s difficult to invest more amount please help me to get back my amount I have all details of amount which and conversation which done in insta.
Please help me like me many people are doing same thing please help us.
All you can do is contact your bank or card issuer & cross your fingers but I won’t lie, there is a very slim chance of you retrieving the funds. “If something sounds too good to be true, it likely is”.
Hi,
What if the account manager shows me an FCA license?
Check if it’s real by verifying it on the FCA website & if unsure, call the FCA & ask 🙂
Ok, thanks.
But even if it’s real she can still scam me, right?
I see I had the same issues like others here have that the money went up so fast, suddenly I need to deposit more and I can’t use the money In my account.
Can she be stoped for fraud if I called them, and she fakes an FCA? Or they don’t do anything and she has nothing to loose..?
As mentioned in the post above, if it sounds too good to be true, it IS too good to be true. Don’t fall victim to the scam. Be smart & avoid it.
I just start trade with marcus godfrey from instagram. Hi suggest to open account in 102foxtrade
Any info about this person?
He’s a known scammer, please do not follow his advice.
Hi,
I am from Maldives, and I have been scammed by cryptovaulthub
They are a scamming company. They have taken alot of money from me and never gave me my profit. They never give full information about the process. I have proof of the scam.
They have texted me from 3 different numbers.
After I invested $100, and they notified me to send my profit, and asked to pay 10% commission before receiving my profit which was never informed to me. When I paid the commission they said I have to pay a bank charge to receive the money, which was also never informed. And after I paid the bank charge, again they said to pay for a connectivity fee, which I was not aware of.
When ever I could not pay they will offer some kind of help so that I would keep up with them.
Now they have deactivated my crypto account and even the person who texted me through instagram has deleted his instagram account. I don’t know how I am going to get my money back.
Please make people aware of this and save people from falling into this business scam.
Hi Aru, I’m sorry to hear that but thank you for sharing your experience. I’ll certainly take a look into it & publish my findings here on the blog.
This is the same comapny in which i invested $110 i met in on instagram after that next two days he told me u will get profit of $1400 then next day he told me u have to upgrade your investments for that u have to pay $300 then he told me ..i told him i don’t have money they he ask me to become his agent he will gi me 10 percent i have buy a usdt and transfer his company he will give me 10 percent of it that processes is still going on he is giving me money on my bank account then i have buy usdt. How to know this is real or not he also give me his license but i check his name and no. On website i didn’t get him there he his saying that he is right person how to check he is right or wrong..plz help me …
Please do not transfer any more money. I am sorry to tell you that you have fallen victim to a scam.
Yes i stopped being his agent but is there is any chance in future i will face any problem because other person transfer money in my account so they have my detail when those person will understand this is all scam they it might be possible they give my bank account details to police so what can i do now so i can’t face any problems in future?
There’s nothing you can do right now, unfortunately. If anything came of it, you’d have to inform them about exactly what happened. They’d be able to see that you were a victim of a scam.
someone is trying to make me invest said I would make 4k off of $300 I figured might be a scam. Forex trading. Told me to send her money on cash app. I don’t trust her it’s a jack lol i didn’t invest and I texted my buddy and he said he got hacked.
Glad you dodged it 🙂