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The Trading Strategy of Social Networks, Believe It or Not?

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Selling trading signals or trading strategies in online communities or trading communities is called "calling orders" in China, and "illegal provision of trading signals" in countries such as Europe and the United States. Among them, there are many real enthusiastic traders, and there are also people who take the opportunity to swindle in this way.

United Kingdom: Punishment of illegal investment advice providers

Earlier, a company called 24HR Trading used WhatsApp to provide customers with unauthorized investment advice and collect fees for profit without authorization. The investment signals it sells include currencies, commodity CFDs, etc.
24HR Trading is operated by Mohammed Fuaath Haja Maideen Maricar (hereinafter referred to as "Maricar"). By encouraging investors to open trading accounts at partner dealers for CFD transactions, Maricar earns a large commission.
In April last year, Maricar was prosecuted by the FCA for illegal investment activities and illegal investment promotion without the authorization of the British Financial Conduct Authority (FCA). FCA believes that their behavior of providing trading signals through social media may cause huge losses to customers.
At the end of March this year, the British High Court ruled that 24HR Trading’s conduct violated FSMA’s "Financial Services and Markets Act 2000" and fined its operating company Maricar £530,000 to refund customers who suffered losses in 24HR Trading due to trading signals.

China: US$220,000 defrauded for calling a scam

In China, under the name of the investment documentary strategy of providing financial products such as stocks, cases of transaction fraud have occurred from time to time. According to a complainant, he entered a stock group in March 2020. Because he lost money by operating the stock, he invested $30,000 in the stock trading strategy of the "teacher" in the group. It didn't take long for him to invest all the money. The loss was exhausted.
After that, the "teacher" invited the investor to do currency trading with him on the grounds that the current stock market is not good, and told him many of the benefits of currency trading. Therefore, investors who do not understand currency trading, under the temptation of interest, first opened a trading account on the Sega International Trading Platform as required, and then deposit 25,000 US dollars to trade GPB/USD and gold according to the "teacher" trading strategy, and press " "The teacher" asked for frequent heavy warehouses, carrying orders, and constantly increasing positions, which soon ushered in another loss.
At the suggestion of the "teacher", he opened a trading account later to conduct transactions of different varieties. According to the "teacher" call order strategy, it has been a small profit and a big loss for nearly a year, and a total loss of nearly 220,000 US dollars.

Is "Trading Teacher" true or false?

The world of the Internet has brought great convenience to our communication, but across the "web" of the Internet, if the other party deliberately concealed or even packaged false identities, it would be difficult for us to find out the first time. British investors don’t know that 24HR Trading provides trading signals without FCA’s authorization, and is the "teacher" that Chinese traders meet credible?
Sega International stated on its official website that it is regulated by the US NFA, and its regulatory number is 0505628. However, the company name corresponding to the regulatory number is IDEAL GLOBAL TRADING LIMITED, and it is not subject to the supervision of NFA retail transactions.
The trading platform brought into the account by the "calling teacher" has been determined to be a false trading platform. Although the identity of the "teacher" is not confirmed by direct evidence, it does not stop customers to guide customers to open accounts on the false trading platform and to re-stock trades. It can be seen that "calling teacher" does not seem to help traders make profits, but is more like a raccoon with counterfeit platforms, just to make traders lose more money.
In fact, there are many cases of fraud in China for organizing the establishment of fake currency trading platforms. According to police investigations, these scam gangs are very cunning, and there are different divisions of labor among gang members: some are responsible for changing the profit and loss data of counterfeit platforms, some pretend to be trading analysts or investment teachers, and some investors in the group to advocate copying profits a lot... Create an illusion that you can immediately become a millionaire by trading with the teacher, and make the loss of trading funds in the counterfeit platform. In fact, the "loss" is simply man-made, and the loss-making funds are divided up by the members of the scam gang.

Where did the call scam appear?

The place where traders gather is the place where crooks fish in troubled waters. In China, the exposed scams most often appear in investment/transaction QQ groups, WeChat groups or WeChat Moments, Followme tracking communities, etc.; in English-speaking countries, scams have occurred in communities such as WhatsApp, Facebook and other communities mentioned today. 
In addition to the Internet, scammers will also use phone calls or mobile phone text messages to attract investors to follow them to trade, or to trade on fake trading platforms they have established.
Of course, there are also many real enthusiastic trading teachers on the Internet, who are willing to share trading experience or trading strategies with others, and lead novice traders to profit. Therefore, investors need to spend time to identify the authenticity of the strategy provided by the teacher, long-term observation whether their strategy is really profitable, and then consider small funds to follow his strategy for trading.
Generally speaking, "teachers" who exaggerate profitability and don't talk about trading risks often have ulterior motives and must be careful not to blindly be lured into trading by their highly profitable words.


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