Investment Training Scams on Social Media Promise You Can "Learn to Trade" and Quit Your Job
Social media is full of people flashing luxury lifestyles and claiming you can do the same by "learning to trade." The FTC sued International Markets Live (also known as IM Mastery Academy and IYOVIA), which advertised "educators" with no legitimate credentials and used false earning claims to recruit people. The company is no longer in business, its leaders must turn over $90 million in assets, and they are banned from selling trading training services.
Trading is risky, there are no guaranteed returns, and you can lose a lot of money fast. Anyone who promises otherwise is selling a dream, not education.
What to look for
- Posts or ads showing luxury lifestyles (fancy cars, exotic trips) tied to "learning to trade" or "investing"
- Promises of guaranteed returns or claims that trading carries little to no risk
- "Educators" or coaches with no verifiable financial credentials or track record
- Pressure to sign up for paid training programs or coaching before you have time to research
What to do
Research the company and its promoters by searching their name plus "scam" or "fraud" — and remember that no one can guarantee you will make money trading.