Are these Vloggers just a scam? SOL or Shmee etc???????
Discussion
DonkeyApple said:
Out of interest, what do you see as the issue with regards to Trading212?
We've had this before.Do you really think the average Shmee subscriber has any knowledge whatsoever of CFD trading and the like ? Hard to prove I know but I imagine the return to the broker on any new accounts opened via social media affiliations of this ilk is significant (in % terms at least) and comes with a very low cost of acquisition. I wonder how rigid their onboarding processes are and why one would advertise with a channel where I would be certain more subscribed viewers are below the age of 18 than above it.
Trading 212 whilst regulated (via in my opinion a stooge but that's just one person's view) markets heavily along the lines "trading isnt just for the elite or privileged, you too mr ordinary guy can live the life and play the markets" etc. It's absolutely aimed at the same type of gullible individual who thinks they too can live in Central London, fly the world and own supercars by making a few videos.
Still I suppose one might also argue it's not that different to be sponsored by William Hill et al.
anonymous said:
[redacted]
In this instance, I paid them so there is no sponsorship included. I am a regular user of that button, as you will see in my recent final drive video with the GT4 that was made in partnership with Mobil 1; and there are no adverts running on the content as a result because the video itself has it built-in. YouTube only introduced it a few months ago but I have used it every single time since the day it started.For what it's worth, the sponsorship section of the site is a little bit confusing and really should be updated to be made clearer so I will instruct the guys on this one. I have no commercial arrangement with McLaren Automotive, nor any other car company from whom I have bought a vehicle. In the case of McLaren Manchester (this is a specific reference to the Sytner dealership), it is more than I want to help them having bought 4 cars (with my own money) from them - and will not be the last. It would be of no surprise that I have my name down for future McLarens and would like to continue working with them and if I can help them in the process, then great. I should add that I certainly feel we are talking allocations for cars that I am in line for as a person who has already bought 4 McLarens anyway, not special Shmee150 privileges (or I'd have an MSO HS on the way!).
Butter Face said:
http://www.mumsnet.com/Talk/am_i_being_unreasonabl...
http://www.mumsnet.com/Talk/am_i_being_unreasonabl...
http://www.mumsnet.com/Talk/am_i_being_unreasonabl...
http://www.mumsnet.com/Talk/am_i_being_unreasonabl...
etc etc ad infinitum.
Is there a thread where she defended herself to the baying mob, offered an insight to her financial setup etc.http://www.mumsnet.com/Talk/am_i_being_unreasonabl...
http://www.mumsnet.com/Talk/am_i_being_unreasonabl...
http://www.mumsnet.com/Talk/am_i_being_unreasonabl...
etc etc ad infinitum.
Cue photo so those know who she is.
RSK21 said:
DonkeyApple said:
Out of interest, what do you see as the issue with regards to Trading212?
We've had this before.Do you really think the average Shmee subscriber has any knowledge whatsoever of CFD trading and the like ? Hard to prove I know but I imagine the return to the broker on any new accounts opened via social media affiliations of this ilk is significant (in % terms at least) and comes with a very low cost of acquisition. I wonder how rigid their onboarding processes are and why one would advertise with a channel where I would be certain more subscribed viewers are below the age of 18 than above it.
Trading 212 whilst regulated (via in my opinion a stooge but that's just one person's view) markets heavily along the lines "trading isnt just for the elite or privileged, you too mr ordinary guy can live the life and play the markets" etc. It's absolutely aimed at the same type of gullible individual who thinks they too can live in Central London, fly the world and own supercars by making a few videos.
Still I suppose one might also argue it's not that different to be sponsored by William Hill et al.
Unlike gaming where anyone can do long as they aren't dead, which is why Binaries have been rammed into the face of every moron that's been born in the West within the last 30 years. The only barrier is the bookie if he finds out you don't even have £10.
That's why I'm interested in the view in some of the posts.
DonkeyApple said:
Should be much better as FCA appropriateness tests, TCF and KYC won't allow the people you speak of to open accounts. Plus, FCA rules on marketing are very strict. As are the enticement rules.
Unlike gaming where anyone can do long as they aren't dead, which is why Binaries have been rammed into the face of every moron that's been born in the West within the last 30 years. The only barrier is the bookie if he finds out you don't even have £10.
That's why I'm interested in the view in some of the posts.
Should be ............. Unlike gaming where anyone can do long as they aren't dead, which is why Binaries have been rammed into the face of every moron that's been born in the West within the last 30 years. The only barrier is the bookie if he finds out you don't even have £10.
That's why I'm interested in the view in some of the posts.
What more can I say ? It's ultimately a Bulgarian entity with a litany of complaints behind it, claiming to be a provider of forex trading and training, with a website containing unverifiable and rather stock looking references.
I am not saying it's in any way illegal but I find it's marketing crass and clearly aimed at the gullible and inexperienced so would far rather do my trading elsewhere. As you well know CFDs are a quick way for the uninitiated to lose a lot of money but frankly I doubt messrs Shmee or JWW either know or care as long as the bills are paid.
Edited by anonymous-user on Thursday 1st December 20:32
RSK21 said:
Should be .............
What more can I say ? It's ultimately a Bulgarian entity with a litany of complaints behind it, claiming to be a provider of forex trading and training, with a website containing unverifiable and rather stock looking references.
I am not saying it's in any way illegal but I find it's marketing crass and clearly aimed at the gullible and inexperienced so would far rather do my trading elsewhere. As you well know CFDs are a quick way for the uninitiated to lose a lot of money but frankly I doubt messrs Shmee or JWW either know or care as long as the bills are paid.
JWW wrote on a comment: "they aren't a gambling company - if you trade on the stock market and you know what you're investing in - its Wall Street on your phone! "What more can I say ? It's ultimately a Bulgarian entity with a litany of complaints behind it, claiming to be a provider of forex trading and training, with a website containing unverifiable and rather stock looking references.
I am not saying it's in any way illegal but I find it's marketing crass and clearly aimed at the gullible and inexperienced so would far rather do my trading elsewhere. As you well know CFDs are a quick way for the uninitiated to lose a lot of money but frankly I doubt messrs Shmee or JWW either know or care as long as the bills are paid.
Edited by RSK21 on Thursday 1st December 20:32
I thought he had a brain
RSK21 said:
DonkeyApple said:
Should be much better as FCA appropriateness tests, TCF and KYC won't allow the people you speak of to open accounts. Plus, FCA rules on marketing are very strict. As are the enticement rules.
Unlike gaming where anyone can do long as they aren't dead, which is why Binaries have been rammed into the face of every moron that's been born in the West within the last 30 years. The only barrier is the bookie if he finds out you don't even have £10.
That's why I'm interested in the view in some of the posts.
Should be ............. Unlike gaming where anyone can do long as they aren't dead, which is why Binaries have been rammed into the face of every moron that's been born in the West within the last 30 years. The only barrier is the bookie if he finds out you don't even have £10.
That's why I'm interested in the view in some of the posts.
What more can I say ? It's ultimately a Bulgarian entity with a litany of complaints behind it, claiming to be a provider of forex trading and training, with a website containing unverifiable and rather stock looking references.
I am not saying it's in any way illegal but I find it's marketing crass and clearly aimed at the gullible and inexperienced so would far rather do my trading elsewhere. As you well know CFDs are a quick way for the uninitiated to lose a lot of money but frankly I doubt messrs Shmee or JWW either know or care as long as the bills are paid.
Edited by RSK21 on Thursday 1st December 20:32
My interest is that I run a UK CFD brokerage and I know that even if a client scrapes suitability for onboarding you won't, on average, make enough from that client's activity to cover the marketing and regulatory cost of acquiring them.
I'd heard that 212 marketed heavily on social media but in my experience that media doesn't generate any credible clients unless you are going to spank them like the advisory firms or the binary firms?
DonkeyApple said:
Yup but Bulgaria is still subject to the same rules as the UK under mifid so being Bulgarian should make no difference to suitability or any of the inboarding requirements.
My interest is that I run a UK CFD brokerage and I know that even if a client scrapes suitability for onboarding you won't, on average, make enough from that client's activity to cover the marketing and regulatory cost of acquiring them.
I'd heard that 212 marketed heavily on social media but in my experience that media doesn't generate any credible clients unless you are going to spank them like the advisory firms or the binary firms?
My interest is that I run a UK CFD brokerage and I know that even if a client scrapes suitability for onboarding you won't, on average, make enough from that client's activity to cover the marketing and regulatory cost of acquiring them.
I'd heard that 212 marketed heavily on social media but in my experience that media doesn't generate any credible clients unless you are going to spank them like the advisory firms or the binary firms?
Just as Cyprus and the cysec registered binaries are !
In my opinion you've answered your own question. To this observer they look and feel set up to behave in a manner not dissimilar to that of the binary guys but as I say it's just my opinion.
Edited by anonymous-user on Thursday 1st December 21:57
anonymous said:
[redacted]
Although no such loophole exists. Under mifid it should be impossibly to onboard unsuitable individuals. I'm pretty confident that for a firm to exploit the vulnerable they would need to be operating in clear and open breach of the lines set under mifid. My interest is that if a firmm isn't acting in breach then are there actually high numbers of suitable people wanting Ching these YouTube channels? It's never been my impression that this was the case. anonymous said:
[redacted]
I just signed up.It took 2 minutes.
It told me they said I might be at risk based on certain answers provided and should try with a practice account first but ....... I could just go ahead and proceed anyway at my risk.
I then immediately received a link inviting me to deposit money and start trading.
Remarkably easy and no data check.
DonkeyApple said:
My interest is that if a firmm isn't acting in breach then are there actually high numbers of suitable people wanting Ching these YouTube channels? It's never been my impression that this was the case.
Clearly the high end manufacturers are interested in the vloggers audience, and quite a few here seem to follow. What are your assumptions about the audience based on?anonymous said:
[redacted]
What if there are suitable individuals watching the videos? It can't be the case that everyone watching is unsuitable?It doesn't matter where the client is based an EU firm is obliged to apply the same terms. It's why many of the Cysec firms are opening operations in places like the Marshall Islands as Cysec is actually being forced to regulate the entities under their remit.
Re that website, I'm not sure that Guido keeps it all that up to date since Google changed their algos quite a few years ago and traffic collapsed.
DonkeyApple said:
What if there are suitable individuals watching the videos? It can't be the case that everyone watching is unsuitable?
It doesn't matter where the client is based an EU firm is obliged to apply the same terms. It's why many of the Cysec firms are opening operations in places like the Marshall Islands as Cysec is actually being forced to regulate the entities under their remit.
Re that website, I'm not sure that Guido keeps it all that up to date since Google changed their algos quite a few years ago and traffic collapsed.
We are in grave danger of derailing this thread but I imagine absolutely everyone watching classifies as a Retail Customer.It doesn't matter where the client is based an EU firm is obliged to apply the same terms. It's why many of the Cysec firms are opening operations in places like the Marshall Islands as Cysec is actually being forced to regulate the entities under their remit.
Re that website, I'm not sure that Guido keeps it all that up to date since Google changed their algos quite a few years ago and traffic collapsed.
The sign up process was extremely simple and it's laughably easy to see what answers need to be skewed to either pass or raise the "it's your fault don't say we didn't warn you but crack on if you wish" flag.
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