A joint survey by Finance Magnates and FXStreet found 60.09 percent of traders that fell victim to scams on Telegram lost funds.
The presence of active traders on Telegram makes it vulnerable to scams.
Despite Facebook surpassing Telegram in targeting traders, over 60 percent of victims on Telegram actually lost money, a joint survey by Finance Magnates and FXStreet found. Although Telegram and WhatsApp both have about the same percentage of scam victims who lost funds, the number of traders getting targeted on WhatsApp is smaller than Telegram, which hosts many channels and groups of active traders.
The survey, in which 631 traders participated, revealed that 60.09 percent of traders targeted by scammers on Telegram lost funds. The figure is 59.6 percent for traders on WhatsApp, 56.2 percent for Facebook, 51.8 percent for Instagram, and 50 percent for SMS. For X (formerly Twitter) and LinkedIn, this figure is at 43.7 percent and 45.4 percent, respectively.
Telegram is a favorite trading platform and hosts multiple active communities, unlike platforms like Facebook. Because of features like privacy, anonymity, and the ability to create channels and groups, traders prefer this platform over others. However, this enables scammers to target active traders on Telegram precisely.
Pere Monguió, Co-CEO at FXStreet
"Telegram is built around privacy and a hands-off approach to content moderation," said Pere Monguió, FXStreet's Co-CEO. "This has its obvious downsides: it lags in account verification and infringement take-downs. Impersonating anyone is so easy, and taking that account down is so difficult that it is an ideal platform for scammers. Telegram should take action or take responsibility for what happens on its platform."
The messaging platform's move towards integrating payment systems can be exploited by scammers to facilitate financial transactions directly within the app, making it easier for them to receive payments from victims without going through external payment processors that might have more stringent fraud prevention measures.
WhatsApp also provides end-to-end encryption for messages and is constantly adding features. The anonymity feature of the platform also help scammers to operate there. Furthermore, with a global user base of about 2.78 billion, WhatsApp provides a vast target to scammers. WhatsApp's private messaging nature makes it harder for external parties to monitor and report scams.
Finance Magnates approached Telegram and WhatsApp to know their view on the matter but has not received any response as of press time.
Earlier, Finance Magnates revealed the rampant clones of brokers and signal providers on Telegram. According to a Financial Times report, Telegram has 900 million users and is nearing profitability. The messaging platform is now considering to go public.
“I would encourage any trader to not solely rely on a social media post or conversation with a potential provider but to instead insist on seeing the documentation that lays behind their claims,” David Harvie, Saxo Australia's Head of Direct Sales, told Finance Magnates. “You also have the opportunity to check on the website of your jurisdiction's regulator to ensure your broker is appropriately licensed.”
David Harvie, Saxo Australia's Head of Direct Sales
“All in all, I would encourage a prudent approach when choosing a broker. While the headline in a social media post may be alluring, a savvy trader should dig deeper to gain confidence they’ve made their first decision a smart one – picking a reputable broker for the long term.”
According to the latest survey, 20.8 percent of the traders who were victims of online scams on Telegram did not lose any money. This figure is 18.78 percent for the victims on Facebook, 17.95 percent for Instagram, 20.74 percent for WhatsApp, 28.43 percent on SMS, 23.94 percent on X, and 36.96 percent on Linkedin, which is the highest.
Despite Facebook surpassing Telegram in targeting traders, over 60 percent of victims on Telegram actually lost money, a joint survey by Finance Magnates and FXStreet found. Although Telegram and WhatsApp both have about the same percentage of scam victims who lost funds, the number of traders getting targeted on WhatsApp is smaller than Telegram, which hosts many channels and groups of active traders.
The survey, in which 631 traders participated, revealed that 60.09 percent of traders targeted by scammers on Telegram lost funds. The figure is 59.6 percent for traders on WhatsApp, 56.2 percent for Facebook, 51.8 percent for Instagram, and 50 percent for SMS. For X (formerly Twitter) and LinkedIn, this figure is at 43.7 percent and 45.4 percent, respectively.
Telegram is a favorite trading platform and hosts multiple active communities, unlike platforms like Facebook. Because of features like privacy, anonymity, and the ability to create channels and groups, traders prefer this platform over others. However, this enables scammers to target active traders on Telegram precisely.
Pere Monguió, Co-CEO at FXStreet
"Telegram is built around privacy and a hands-off approach to content moderation," said Pere Monguió, FXStreet's Co-CEO. "This has its obvious downsides: it lags in account verification and infringement take-downs. Impersonating anyone is so easy, and taking that account down is so difficult that it is an ideal platform for scammers. Telegram should take action or take responsibility for what happens on its platform."
The messaging platform's move towards integrating payment systems can be exploited by scammers to facilitate financial transactions directly within the app, making it easier for them to receive payments from victims without going through external payment processors that might have more stringent fraud prevention measures.
WhatsApp also provides end-to-end encryption for messages and is constantly adding features. The anonymity feature of the platform also help scammers to operate there. Furthermore, with a global user base of about 2.78 billion, WhatsApp provides a vast target to scammers. WhatsApp's private messaging nature makes it harder for external parties to monitor and report scams.
Finance Magnates approached Telegram and WhatsApp to know their view on the matter but has not received any response as of press time.
Earlier, Finance Magnates revealed the rampant clones of brokers and signal providers on Telegram. According to a Financial Times report, Telegram has 900 million users and is nearing profitability. The messaging platform is now considering to go public.
“I would encourage any trader to not solely rely on a social media post or conversation with a potential provider but to instead insist on seeing the documentation that lays behind their claims,” David Harvie, Saxo Australia's Head of Direct Sales, told Finance Magnates. “You also have the opportunity to check on the website of your jurisdiction's regulator to ensure your broker is appropriately licensed.”
David Harvie, Saxo Australia's Head of Direct Sales
“All in all, I would encourage a prudent approach when choosing a broker. While the headline in a social media post may be alluring, a savvy trader should dig deeper to gain confidence they’ve made their first decision a smart one – picking a reputable broker for the long term.”
According to the latest survey, 20.8 percent of the traders who were victims of online scams on Telegram did not lose any money. This figure is 18.78 percent for the victims on Facebook, 17.95 percent for Instagram, 20.74 percent for WhatsApp, 28.43 percent on SMS, 23.94 percent on X, and 36.96 percent on Linkedin, which is the highest.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
iSAM Securities Adds Futures CFDs as Volatility Raises Demand for Consistent Pricing
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
