how influencers engage 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 big financial risks by presenting only the potential gains and not the risks.

“You have a 100% chance of earning money every month with me”, “it’s super easy”, “sign up, it’s going to cash in hard”. Influencer promises for easy, hassle-free and almost automatic wealth abound on social media. Marc Blata, former reality TV candidate, appears there as a figure. From Dubai (United Arab Emirates), he encourages 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 thing’, the next day, I went to minus 800, I had no no more money so I put down 500, it came back up and I lost everything again. I lost a total of 1,500 euros”, testifies a victim. Because it is on the extremely risky Forex market that they push to invest. According to a study by the Financial Markets 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 client. 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 as to whether it is illegal or not.

How can everyone be better informed?

Participate in the consultation initiated as part of the European project De facto on the Make.org platform. Franceinfo is the partner