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In forex trading, financial influencers—now dubbed “fin-fluencers”—exert a significant influence on retail traders’ decisions, with 33% of traders said to have been influenced by fin-fluencers to make trading decisions and 49% of consumers depending on fin-fluencer recommendations.1,2
RELATED: Why you should be cautious of business advice on TikTok
According to new research from the forex broker experts at BrokerChooser, it has been uncovered that up to 80% of forex advice given out on TikTok from ‘fin-fluencers’ could be potentially misleading.
The experts analysed 100 of the best performing TikTok videos across a range of forex topics to uncover the scale of misinformation. What they uncovered was alarming—from a major lack of disclaimers to a high volume of videos focused solely on flaunting wealth and lifestyle, with little to no trading context.
The results
Just 6% of forex advice on TikTok encourages viewers to do their own research
Overall, the analysis revealed that a staggering 80% of forex advice on TikTok was potentially misleading, with only 6%—or 3 in 50 videos—encouraging viewers to do their own research. Interestingly, of the top-performing videos, 60% of content came from male fin-fluencers, 35% from female fin-fluencers and 5% came from unspecified or AI produced content.
Only one in seven forex creators included financial disclaimers
Only one in seven videos (13%) analysed included relevant disclaimers, such as clarifying the risks involved in forex trading or stating that the content was not financial advice. This lack of transparency is particularly concerning given that one in five videos were actively promoting or selling a product or service, raising ethical concerns about the motivations behind the content being shared.
Fewer than one in 10 videos gave trading context as to how their money or lifestyle was achieved
Disturbingly, the forex broker experts at BrokerChooser uncovered that half of the forex related content on TikTok (50%) was fin-fluencers boasting about their money made or their lifestyle with no relevant or trading context. Only 9% of videos which included brags about money or lifestyle—fewer than one in 10—came with context as to how they achieved it.
Less than a quarter of TikTok forex videos contained legitimate trading advice
Less than a quarter (23%) of forex related content on TikTok contained actual forex trading information. Instead, videos often focused on lifestyle imagery, vague motivational claims or promises of quick wealth. This was often done without disclosing risks or from creators without verifiable credentials, creating a misleading impression of forex trading as a guaranteed route to financial freedom as opposed to a complex, high risk activity.
Comments by BrokerChooser
Weighing in on their findings, Edith Balazs, Content Editor Head at BrokerChooser comments:
“The findings of our study are deeply concerning as they shine a light on the overwhelming majority of forex-related content on TikTok as potentially misleading or harmful. The research uncovered that very few creators encourage their viewers to do their own research or provide any meaningful trading information.
Instead, it seems that the platform is saturated with individuals flaunting their wealth and lavish lifestyle without offering any transparency or context, which could leave viewers vulnerable to false expectations and financial risk. This is particularly concerning as a recent SEC report suggested that around 70% of retail forex day traders lost money each quarter and two out of three forex customers lose money overall.3
If you’re serious about learning to trade, TikTok is not the place to start. Reliable forex education should come from regulator accredited sources, such as financial institutions, professional trading platforms, or certified training providers, and not from fin-fluencers trying to sell you a dream. Always practice due diligence: question the source, verify credentials, and never take financial advice at face value. Critical thinking, combined with research and regulated education, is the only safe way to approach financial markets.”
Methodology
- BrokerChooser sought to uncover the percentage of forex advice given on TikTok which could be considered potentially misleading or harmful.
- To do so, the experts analysed 100 of the top-performing videos across a range of relevant Forex trading advice hashtags on TikTok. These include: #forex, #forextrading, #forextrader #fxtrading #fx.
- These videos were meticulously selected as the most viewed within their hashtag categories, making them the most likely to appear to users actively searching for forex trading advice.
- Each video was reviewed and scrutinised for:
- Relevant disclaimers
- Whether or not the creator encouraged viewers to do their own research
- Whether or not the creators were selling or pushing something alongside their advice or asking viewers to reach out to them personally for ‘help’
- Whether or not the creator was boasting about their money and/or their lifestyle with no context
- Whether or not the video included any trading information.
- The overall legitimacy of the forex advice given.
- The creators who scored negatively in three categories or more, were labelled as providing ‘potentially misleading’ advice.
- The full dataset used throughout this study can be found here.
- All data is correct as of May 2025.
Credit: BrokerChooser
