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Speculation - a few words about how they trade His profile is covered in pictures of him next to his large Mercedes sports car, wearing designer coats and watches. His website, Trade With Infinity, offers online tutorials and educational courses on Forex trading. According to the FCA warning list: 'We believe this firm has been providing financial services or products in the UK without our authorisation. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.
Mr Blackburn has taken his Instagram page offline and told MailOnline he does not need to be regulated.
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Another picture posted on Luke Blackburn's Instagram sees him showing off a Rolex watch and a Mercedes sports car. Pictured: Luke Blackburn, 23, of Yorkshire, showing off his sports car and handfuls of cash. A woman who goes by the name Sophia FX trades has also been listed as unauthorised and a potential scam trader. She has 17, followers on Instagram, which is full of pictures of her in glamorous outfits surrounded by wads of cash.
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There are four important things to look for when considering investing in a Foreign Exchange scheme. Business foundations: Does the trader or trading firm have a proper business set up with a website, or are they just operating through social media? At least two years' experience is preferable. They need regulatory cover either through a trading partner or direct from the FCA. Reviews: Are the service reviews of the trader left through a credible review service and do the reviews relate directly to the product being advertised?
Celebrity endorsements do not count as credible. Others show her dining at restaurants with views of Canary Wharf and the City of London with captions such as 'drinks with a view Sophia was recently added to the FCA warning list, which states she is offering illegal services she is not allowed to charge money for. A representative for Mr Massey said he was not aware Sophia is not an authorised trader. Another unauthorised Forex trader, 'Ash Trades', claims to offer real-time Forex signals solely through Instagram and Whatsapp.
He has 13, followers and regularly posts pictures of himself at the wheel of a sports car with handfuls of cash. He uploads photos of himself on luxury holidays to Marbella and the USA, which often feature fast cars, yachts and fine dining restaurants. Ash Trades claims all customers need to do is send him a direct message with the words 'FREE 30 DAY' and he will send buy and sell signals to copy in trading.
Pictures of the TV personalities show them posing with their phones and thanking 'Ash Trades' for making them extra money. It is not clear if the reality stars knew he was not authorised at the time of their posts. Ash claims all customers need to do is send him a direct message with the words 'FREE 30 DAY' and he will send buy and sell signals to copy in trading.
The FCA warns he is not allowed to sell 'signals' and is continuing to do so despite official warnings. His Instagram page is still active. Biomedical sciences student Gurvin Singh, 20, from Plymouth, was also recently added to the warning list. Mr Singh drives a Maserati Ghibli, often showing it off on his Instagram profile, where he also flaunts his use of private jets and five-star holidays. But this week the watchdog warned Mr Singh is not an authorised Forex trader. But Singh claims he does not have to have authorisation and says he stopped advertising copy trading on social media months ago - despite his Instagram profile being active this week.
He said: 'I do not feel I have done anything wrong and everything will be carrying on in the new year.
I will be talking to the FCA about what I can and can't do. Young entrepreneur Jake Lee dropped out of his economics university course to set up his own trading education business called Improve Your Future. He offers online learning material to help people make money through financial markets. He works with an FCA-regulated trading partner for his copy trading service but spends most of his time trying to educate people on how to avoid scams.
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He claims social media fraudsters are ruining the industry's reputation and luring vulnerable people of his age into losing money. Drop me a message Ash Trades advertises his 'services' by claiming he can work anywhere in the world. The year-old told MailOnline: 'I'm glad to see this issue being addressed properly. Email lara. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
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