Latest news with #finfluencers
CTV News
2 days ago
- Business
- CTV News
Sponsored: protect yourself from "finfluencers"
Edmonton Watch What are "finfluencers" and why is it so important to keep some risks in mind when listening to them? Hilary McMeekin from ASC explains.
Geek Vibes Nation
7 days ago
- Business
- Geek Vibes Nation
Trading As A Form of Streaming? The Rise of Financial Content Creators
Photo by Ivan Samkov It was only a matter of time before trading, that numbers-and-charts, high-anxiety, grown-up version of Pokémon, got the streamer treatment. There's a new form of content creeping into the feed. It's all about candlestick patterns, RSI strategies, and people YOLOing into penny stocks while sipping energy drinks. Financial content creators, or 'finfluencers,' are turning what used to be dry and boring into meme-worthy livestream gold. Whether they're explaining Bollinger Bands or riding the Dogecoin rocket to nowhere, they've tapped into something weird, addictive, and very 2025. From Margin Calls to Follower Counts The idea of broadcasting your trading screen in real-time once sounded like something only a Wall Street intern on a dare might do. Now? It's practically its own genre. Enter the modern finfluencer: half gamer, half CNBC guest, and all personality. They go live on Twitch, YouTube, Kick, and even Discord stages, throwing up real-time charts like they're dropping spell cards in a Yu-Gi-Oh duel. Viewers follow for the drama and stay for the technical analysis. It's a weird mix of education, adrenaline, and just enough chaos to keep things fun. What's wild is that many of these streamers aren't hedge fund managers or economists. They're self-taught keyboard warriors, armed with TradingView, caffeine, and a Reddit-formed thesis. This new wave of creators includes a heavy dose of crypto trading. It's the perfect theme for this new wave of finfluencers because volatility is high, and a meme coin can moon or crash midstream. Crypto trading platforms have become go-to spots for those looking to dip their toes in without going full degen, and the trading content often takes on an arcade-style feel. There are speedy charts, bold moves, and community-driven hype. The Livestream Loop: Education Meets Entertainment Why do thousands tune in to watch someone else lose (or make) five grand on a random Tuesday? It turns out, finance can be fun, especially when it's delivered like an eSports event. There's a very real dopamine hit from watching someone buy into a breakout and nail it or completely miss and rage on stream. The chat floods with viewer calls like 'BUY THE DIP!' or 'IT'S A BULL TRAP!' as emojis fly and ticker symbols scroll by. The streamer's reactions are equal parts elation and existential dread. They mirror those of their viewers, who might be in the same trade or just enjoying the chaos. Some streamers have built full brands around this style, with custom emojis for different coin crashes, Discord rooms where trade alerts drop like loot crates, and even merch drops that say 'HODL the Line' or 'Stonks Only Go Up' in neon lettering. Trading is the game. The scoreboard is your portfolio. The Rise of the DIY Bloomberg Terminal Tech has played a huge role in making this all possible. With a solid laptop, screen-sharing software, and maybe an Elgato Stream Deck, anyone can set up a home trading cave worthy of an eSports caster. OBS plugins let you flash charts on-screen with overlays and sound effects. Bots in chat auto-reply with stock stats, while browser extensions feed in real-time alerts. Even platforms like TradingView and ThinkOrSwim have caught onto the trend. They offer social-sharing features, plug-ins, and theme options that make it easier to turn a spreadsheet-style interface into a full-blown studio. Some streamers even include dramatic lighting effects every time a stock hits a stop-loss. It's finance as theatre. There's also the gamification factor. Some streamers run 'paper trading' contests live, letting viewers test strategies with fake money in real time. Others do tiered learning sessions, like boss fights in an RPG. Beat the level on options basics and unlock access to advanced futures breakdowns. The nerd appeal is off the charts. Risky Business and Meme Stock Mayhem Some streamers blur the line between responsible education and full-on hype. There's the ever-present risk of unlicensed financial advice, pump-and-dumps, and community-led runs that get out of control fast. Regulation hasn't fully caught up, and some creators walk a tightrope with disclaimers that flash briefly between scenes of all-caps market predictions. Still, the community vibe keeps it going. Channels build cult-like followings. Fans swap setups, meme the latest market news, and tune in like it's appointment TV. Even traditional finance has taken notice. CNBC has featured Twitch traders. Bloomberg journalists monitor Reddit for sentiment analysis. Some hedge funds have admitted to watching creator-driven sentiment to time short squeezes. It's surreal. It's nerdy. It's kind of awesome. From Streamer to Startup Some of the bigger names in the space are going pro. Creators with solid followings now offer subscription services, courses, and even their own platforms. They're raising capital, launching apps, and in some cases becoming fintech founders. It's like watching a Twitch star pivot to indie game dev. The branding is peak geek culture. Think 8-bit stock chart stickers. Luxury and limited-run NFTs of emotional trade moments. Gacha-style giveaways where subscribers can win custom indicators. It's as if someone dropped Wall Street into the same blender as TwitchCon and Crypto Twitter and hit puree. This is trading for the meme generation, where charisma, strategy, and a fast refresh rate matter just as much as fundamentals. One well-timed stream can turn a creator into a cult figure overnight. One bad call can be equally viral. It's a high-risk, high-reward activity for both the streamer and the viewer. When Markets Meet Fandom What makes this movement stick is that it's not about becoming rich fast. At least, not for the long-haul fans. It's about joining a community where people share the same kind of energy that fuels any fandom. There's theory-crafting, banter, and heartbreak. It's very human and very online. Sure, some just tune in to watch the chaos of someone YOLO-trading a leveraged ETF. Others come to learn a new chart pattern or see how someone else handles FOMO. The overlap with geek culture is obvious: obsession, humor, repetition, shared language, and above all, the thrill of figuring something out that not everyone gets. In 2025, trading isn't just a solo grind. It's content. It's a community. It's chaos. And we're here for it.
Finextra
11-07-2025
- Business
- Finextra
FCA closes 1600 websites in fight against financial crime
Over 1600 websites suspected of promoting financial services without permission were suspended, removed or blocked in 2024 because of the UK's Financial Conduct Authority. 0 The regulator says it also worked with big tech platforms to get over 50 apps removed from Google Play and the App Store as it used new technology to help identify firms that did not meet its standards earlier and at scale. In 2024 the FCA intervened to ensure almost 20,000 non-compliant financial promotions were amended or withdrawn by authorised firms, compared to under 600 in 2021. It also used criminal powers to take action against illegal financial promotions by unauthorised 'finfluencers'. Meanwhile, according to its annual report the watchdog cancelled the authorisations of over 1500 firms - 20% more than in 2023, and more than triple the number in 2021. Nikhil Rathi, chief executive, FCA, says: "We've embraced data and technology to crack down on harm and ensure high ambitious for the future, and committed to enabling a fair and thriving financial services market for the good of consumers and the economy."
The Independent
09-07-2025
- Business
- The Independent
How to spot a get-rich-quick scam on social media
An increasing number of sharp-suited, seemingly successful financial influencers – often dubbed 'finfluencers' – are flooding our social media feeds, appearing in countless posts, promising a fast-track to wealth through just a few easy steps. Finance can be a complex topic to wrap you head around and although get-rich-quick posts may seem like an easy, quick way to make money, more often than not they are scams that can leave you even more out of pocket. A survey of 1,800 social media users, conducted by Censuswide in June and commissioned by TSB Bank, highlights growing concerns around financial advice on social platforms. It found that 31% of respondents had followed financial tips seen on social media – and of those, 55% reported losing money as a result. The survey also showed that social media can negatively impact users' perceptions of their finances, with 43% saying they felt worse about their financial situation after viewing wealth-related posts. Younger users were especially affected: 67% of those aged 16 to 24 and 61% of those aged 25 to 34 said such posts made them feel worse, compared to just 22% of people aged 55 and over. While some finfluencers may be acting legitimately, social media is unfortunately littered with an abundance of incorrect information and unregulated investments that could derail your finances. So, we got in touch with Beth Harris, head of financial crime at the Financial Conduct Authority (FCA), who explained how these scams work, and has highlighted some key red flags to look out for… How do these scams work? Get-rich-quick investment scams, also known as Ponzi schemes, pay returns to investors from their own money, or from money paid in by subsequent investors, according to Action Fraud's website. There is no actual investment scheme as the fraudsters siphon off the money for themselves. 'Unlawful finfluencers will often falsely flaunt lavish lifestyles including expensive cars and exotic locations to draw people in,' explains Harris. ' Consumers are promised guaranteed returns but in fact these can be highly risky investments or outright scams, and people risk losing their money. 'If they are dealing with an unauthorised firm or individual then they lose access to protections such as the Financial Ombudsman Service.' Who are they targeting? As these scams are primarily shared on social media, it's often young people who are falling for them. 'Our research found that increasing numbers of young people are falling victim to scams, and unauthorised finfluencers can be involved,' says Harris. 'Nearly two-thirds of 18 to 29-year olds follow social media influencers, 74% of those said they trusted their advice and 9 in 10 young followers have been encouraged to change their financial behaviour. 'While some will also be targeted as they 'doomscroll', with reels of content fed to them in response to their consumer profile.' What are some red flags to look out for? These get-rich-quick scams often attain a similar tone, phrases and characteristics, so here are a few warnings signs to keep your eyes peeled for… Unrealistic promises Get-rich-quick scams often use enticing promises of high returns with little effort or risk. 'Does the offer sound too good to be true? Fraudsters often promise tempting rewards, such as high returns on an investment,' says Harris. Pressure tactics Another common warning sign of a scam is feeling pressure to act quickly. 'Scammers might offer you a bonus or discount if you invest quickly, or they may say the opportunity is only available for a short time,' highlights Harris. Investments that are impossible to understand Take a moment to pause and reflect on the investment you are making. Make sure you fully understand what commitment you are making and where your money is going. 'Do you really understand the investment? We frequently see complex trading schemes being promoted that are fiendishly difficult to understand,' says Harris. Where can I check a finfluencer's or a company's legitimacy before making an investment? 'Consumers should check the FCA's Warning List before making any decision about how to invest their money,' recommends Harris. 'We issued 2,240 warnings about unauthorised or potentially scam firms in 2024. Our InvestSmart page also contains useful information to help people make better investment decisions.' What should you do if you have already fallen for a scam? The FCA can investigate and take action against scams involving financial services they regulate, which includes scams related to investments, pensions, loans, insurance, and other financial products. All other scams should be reported to Action Fraud. 'If you're worried about a potential scam, or you think you may have been contacted by a fraudster, report it to the FCA,' says Harris. 'This could help prevent others falling victim. For anything we don't regulate, or if you've lost money to a scam, contact Action Fraud on 0300 123 2040 or via their website.'
Finextra
09-07-2025
- Business
- Finextra
Over half of people who have acted on social media financial advice have lost money
Research by TSB reveals that of the 31 percent of people who have acted on financial advice on social media platforms – over half (55%) lost money as a result. 0 Following the FCA's ongoing focus on finfluencers, TSB surveyed almost 2,000 people who use social media, finding that nine in 10 (90%) had seen an investment opportunity on social media, and over two-fifths (43%) would consider investing as a result. Over half trusted the content and said they had either acted on advice or planned to do so - with 25-34s the most likely to act or have acted (73%), compared to just over a quarter (27%) of over 55s. However, over two-fifths (42%) said they did not know how to check the credibility or credentials of online content. As a consequence, over half (55%) of those who acted on advice lost money as a result. TSB's internal customer data shows that over two-thirds (67%) of push payment investment fraud cases stem from social media platforms, which account for 71% percent of all investment fraud losses - at an average loss of £3,706 per case. Almost two-fifths (36%) of these social media cases started on Facebook, followed by TikTok (17%), Telegram (17%), Instagram (14%) and WhatsApp (14%). However, Facebook and WhatsApp accounted for by far the biggest losses at 36 percent, and 35 percent respectively. Surina Somal, director of everyday banking, TSB, says: 'While there could be useful sources of financial advice on social media platforms; there are also pitfalls through incorrect information and unregulated investments that could derail your finances. The Financial Conduct Authority is calling on politicians to draft legislation to crackdown on Big Tech and finfluencers who promote unauthorised financial schemes. Speaking at a Treasury Select Committee inquiry into the role of finfluencers in financial markets in May, Steve Smart, director of enforcement and Lucy Catledine, director of consumer investments at the FCA, lamented the failure of Big Tech firms to keep track of bad actors promoting unsuitable investments on their social media site. Castledine said many finfluencers continued to operate even after the FCA requestesd that a social media account be closed down by simply switching to another acount. Under current laws, social media influencers found guilty of acting illegally face up to two years in prison. The FCA believes that this is an insufficent deterrent and is calling for legislation to be amended to extend the maximum term to five years.
