Trading scams and how to spot one

Welcome back, Traders!

Today we want to talk to you about the trading scam artists you see and the ways to spot one! We don’t want you parting with your hard earned cash as much as we don’t want to see these charlatans profit!

What do we mean when we say trading scams?

Well, we think it’s obvious by now that 80% of what you see on Instagram, twitter and other social media platforms is a load of rubbish, whether it be a celebrity selling something they have never used themselves or someone flexing in a rented Lamborghini for social clout- its hard to tell sometimes who and what is genuine! With the exponential rise of cryptocurrencies in trading and use of them to pay for goods and services within the industry, a vacuum has been created for scammers to operate using crypto as a payment method and running off into the sunset with your cash. So how do you know if something is a scam, we think we have come up with a good list for you to use as a rule of thumb!

  • If it seems to good to be true, it probably is!

THIS! I know we sound like your granny telling you about something when you were younger, but this is the truest information ever received- if it looks like a once in a lifetime deal, way under market value for the same service.. guess what? Probably a scam!

  • Check reviews on trust pilot or other verified review sites

Trust pilot and others tend to ask customers/reviewers for proof of purchase, this is to make sure that the reviews are genuine- if someone isn’t on these sites then there is a high likelihood there is a reason for that…Scam!

  • How long have they had their social accounts?

Always a good indication as to whether someone is genuine or not, if they message you out of the blue selling a product on a social media account that is only 3 days old..probably a Scam!

  • Are they pushing for a crypto payment?

Whilst we know at Trading top ten crypto isn’t bad in the slightest, just some unscrupulous characters have given it a bad name in some circles- ask for a paypal or card payment first, if its Crypto or nothing they probably aren’t a registered business or want their real name known to you..Scam!


With trading scams, we see more and more each day people being targeted on social media- programs that promise 1000% return within a week, guru courses from influencers who have apparently made millions yet want you to pay £500 for a google drive doc that apparently has all the secrets to make you a millionaire… we are going to tell you right now there is one way to get there and its not through those courses! Its through hard work, determination, and a little bit of luck along the way.

At Trading top ten we realize is a lot of the people that come here might only just be starting their trading journey and looking to us for solid advice, so here it is-

  • · Only Trade what you are willing to lose

  • · Trading is a long-term project, don’t base your abilities off one bad day (or one good one for that matter)

  • · A lot of people don’t care if YOU lose YOUR money, don’t follow the Instagram charlatans- remember they have either already made their money (or looking to make a ‘quick buck’ off you!)

  • · Create a system of trading that works for you, don’t go into each day without a strategy, 9 times out of 10 that will lose you money!

Whether you are starting trading tomorrow or have been trading for 10 years, at some point you would of seen something on social media that has tempted you in the trading world, remember the rules above and keep your wits about you, we know you aren’t stupid because you read this blog, so keep your trading top ten brain in gear and you wont go wrong!


Be sure to join The Trading Top Ten Premium Ideas group, listen to our experts give their honest analysis of the markets, with at least 10 trade ideas a week giving you a chance to copy the experienced trader’s and listen to the reason they will be entering them!

Thanks for reading, your friendly Trading Top 10 team!