Do they provide a chat room? Run! These are designed to scam you out of your money. They compile the buying and selling power of the people in the chatroom, and are using them to cause movements in things like penny stocks or other easily manipulated markets.
How? They’re recommending them or hyping them in their chat rooms. This is a pump and dump mule scheme, with their own students as the mules. Only the first few students or chat room members exiting the trade will make money, and the spreads are huge!
These chatrooms are popular mainly because people are lazy and don’t want to put in the work. That’s also why these chatrooms are so successful for their owners, even though this is illegal – it’s almost impossible to prove.
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