At a time when dubious influencers and all kinds of scams are flourishing on social media, financial institutions must step up their efforts in financial education to guide investors, notably by themselves entering the social media space.
Just a few minutes of scrolling on social media is enough to come across videos of “influencers” promising to help you get rich. They are young, very self-assured—if not outright arrogant—and openly flaunt a lavish lifestyle without any restraint.
Financial markets, of course, hold no secrets for them—and conveniently enough, they are more than willing to share their “expertise” with you. The script is well-rehearsed, the method appears foolproof. Before you too become rich, don’t forget to “like” and sign up in just two clicks for the exclusive training course that will hand you the keys to effortless wealth.
Ultimately, the “miracle investment” schemes based on “copy trading,” the cryptocurrency that was supposed to skyrocket to the heavens, or the FOREX (foreign exchange market) investment methods allegedly generating hefty returns will often turn out to be nothing more than simple scams.
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Read the full op-ed by Julien Gautier published on the Echos