Online trading pitches may show expensive cars or exotic trips and claim that others can get the same lifestyle by learning to trade. The Federal Trade Commission says trading is risky, offers no guaranteed returns, and can lead to quick losses.
The FTC alert also describes allegations in its lawsuit against International Markets Live, also known as IM Mastery Academy and IYOVIA. The agency says the company advertised educators who often had no legitimate credentials and used false earning claims to recruit people into an investment training scheme.
For people considering a training offer, the FTC recommends researching the company, its officials, and promoters; checking with a state attorney general for complaints; taking time; and getting a second opinion from someone they trust.