How It Works
Unregistered platforms or "mentors" offer to teach foreign currency trading, promising consistent daily profits through a "proven strategy" or automated trading software. Victims pay for courses, software licenses, or deposit trading capital that is never actually traded — just pocketed.
Real Example
A self-styled "forex mentor" on Instagram offers a paid course plus access to a trading bot that promises 5% daily returns. After payment, the bot shows fake profits that can never be withdrawn.
Red Flags 🚩
- Trading "mentor" showcases a lavish lifestyle to build credibility
- Promises consistent daily or weekly percentage returns
- Sells a paid course as a prerequisite to "unlock" the real trading opportunity
- No verifiable regulatory registration for currency trading in India
Protection Steps 🛡️
- Note that retail forex trading is heavily restricted under Indian regulations — be wary of anyone offering it freely.
- Don't pay for "exclusive access" to trading strategies or bots.
- Research the mentor's actual track record independently, not through their own posts.
- Treat lifestyle-flexing on social media as a marketing tactic, not proof of skill.