FCA warns of Instagram forex scams

#1
The British regulator Financial Conduct Authority (FCA) recently issued a warning that there is a new trend among the scam brokers – they have begun using services like Instagram and Facebook to lure gullible people with tempting offers about fast and big profits.
They are advertising these get-rich-quick scheme entirely on social media – they don’t even bother with making a website. What is more, they assume the identity of famous people on sites like Instagram, Facebook and WhatsApp to conduct these scams.
The FCA has issued a warning about two such profiles @chloehenx and @chloefxtrades, claiming that clients can get rich by following their signals. Once people invest as much as they can scammers disappear with the money.
I was sure something like that would happen, unfortunately. Most people are at home, constantly online, and scammers prey on their need to make money. Disgusting but unsurprising.


  1. Similar Topics

    1. CFTC warns about 20 new forex and binary options scams

      5 Replies 852 Views

      by mlawson71, Sun Dec 08, 2019 9:38 pm in Broker Talk

      5 Replies
      852 Views
    2. Police in Taiwan warns of forex scams on dating websites

      0 Replies 505 Views

      by mlawson71, Fri Sep 13, 2019 1:20 am in Broker Talk

      0 Replies
      505 Views

Return to “Forex Fundamentals & News”