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Comments
This isn't just kids.
As @m_c said, at least with equities you have an edge. Your edge is that shares increase over time (simplistically put) and they pay you a bonus every year. FX pairs trading really is a zero sum game, and you know that old trope - if you don't know who the mug in the room is.....
CashFX is one of the schemes/scams I'm aware of. You won't get much info though, I suspect. Basically, you join and pay a subscription. They promise to invest the money for you, I think, and you'll get pay outs. But, you get better pay outs if more people join up under your reference number. I don't think the trades ever make money, it's just the pyramid scheme continuing.
My son isn't involved in that. He gives trading "signals" for free that he gets from his "colleagues/friends", and hopes you will sign up to a trading platform using his affiliate link. It's more transparent what's going on, but I don't think it will make anyone rich anyway.
https://www.fca.org.uk/news/warnings/cash-fx-group
Looks like they've fairly cleverly positioned themselves far enough out of reach that the regulator is still not effectively able to deal with them after 18 months. Nasty.
Then who's to say they wouldn't get to a certain point and just piss off with everyone's money?
https://youtu.be/doi5NtjGu0s
One guy claims £20k profit in the last 5 years. He said to bet on something at 4/1. I used an odds comparison site within 10 seconds of the message arriving and it was 2/1 so I didn't put it on.
The bet won, and he recorded it as a £400 profit, so I contacted him and said I don't think that's right. The most anyone following your tip could have got is £200.
He basically told me tough shit, I should have put it on regardless of the odds and been happy.
I said yeah except this is happening regularly and it makes the profit figures you're advertising completely unachievable. He didn't reply.
Also who on earth puts £100 on a bet? Most people would do a tenner, so it's already 10x inflated.
Chips are "Plant-based" no matter how you cook them
Donald Trump needs kicking out of a helicopter
I'm personally responsible for all global warming