how do influencers involve thousands of people in very high risk trading?

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Calls to join groups to make the same investments as influencers are increasing. A practice that takes large financial risks by presenting only the potential gains and not the risks.

“You have a 100% chance to make money every month with me”, “it’s super easy”, “Sign up, it’s going to make money”. Influencer promises of easy, hassle-free, and near-automatic wealth abound on social media. Marc Blata, former reality TV contestant, appears there as a character. From Dubai (United Arab Emirates), he invites his audience to join him on a trading platform to make the same investments as him. A deposit of €250 on the platform allows you to join the Telegram channel where he gives his “advice”.

“The first day I deposited €500, I took €325 in profit, I said to myself ‘what is this crazy’, the next day I went to minus 800, I had no more money, so I put 500, it came up again and I lost everything again. I lost a total of 1,500 euros”, a victim testifies. Because it is in the extremely risky Forex market that they push to invest. According to a study by the Norwegian Financial Supervisory Authority, nine out of ten customers would have lost money on this market. It is not in trading that Marc Blata makes money, but by receiving a commission of several hundred euros for each new customer. With this system he could have received a million euros. A collective plans to file a complaint against a practice that is the subject of intense legal debate over whether or not it is illegal.

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