According to new research from forex broker experts at BrokerChooser, up to 80% of forex advice given on TikTok by ‘fin-fluencers’ may be misleading.
Experts analyzed 100 TikTok videos on forex topics, revealing alarming misinformation. They found a lack of disclaimers and a high volume of videos promoting wealth and lifestyle without trading context.
In forex trading, financial influencers, now known as “fin-fluencers,” have a major impact on retail traders’ choices. Reports show that 33% of traders have been swayed by fin-fluencers when making decisions, while 49% of consumers rely on their recommendations.
6% of forex advice on TikTok encourages viewers to do their 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 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.
1 in 7 forex creators included financial disclaimers
The analysis revealed that only 13% of videos included disclaimers indicating they were not financial advice or promoting a product or service. This lack of transparency is concerning, as one in five videos was actively promoting or selling a product or service.
1 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 that included brags about money or lifestyle—fewer than one in 10—came with context as to how they achieved it.
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 by 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.
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 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 lost 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.”
