Can Tik Tok mess up Forex?

I was reading an article on the independent about the recent GameStock Fiasco. As a forex trader, one section in particular got my attention. With the availability of robinhood, IQ options and other easy to use trading apps, trading is more open to the general masses than it has ever been. The article mentioned how Tik Tokers and Youtube is a breeding ground for unverified information on trading that can easily lead novice investors to huge losses. Now, of course, Forex doesn’t work the same way as the stock market but we are still subject to shifting spreads, varying fees, commissions and so on.
I’m seeking your inputs in regards to strategy and safeplay here. Also, what broker do you use and do you trust them?

 

Paraphrase :
,,Can FX take away, last pants & socks from tikTok users ?"

Yes. And it does so every day. It's the most liquid market. Bunch of kids drawing lines & imagening that they are the next Soros, ain't gona change anything in it.


You should diversify your funds between 2 or 3 brokers. Allocate the most - in the largest one.

 

I don’t think it can have a big impact on the market for all its own.

 

No.

 

I think these are so different directions that there won't be much influence.

 

Yes, I agree with you as this is not any game that we can show up on youtube and tik tok as game plays. Forex trading involves much more attention and time to get hand on research for the trades. I think every trader has to sit and think about what is best for the trading and then proceed further.

 

I haven’t read the article yet but I hardly believe Tiktokers and You Tubers will have any effect on Forex trading or strategies.

 

YES! TIKTOKERS ARE GOING TO EFFECT THE EXCHANGE RATE OF CURRENCIES BETWEEN TWO COUNTRIES!

Fer crying out loud. Are you that new to the world?

*And you know what is really messed up? I do not trade FOREX. But I have a BRAIN, and can think for myself. Fancy that! I am not impositioned by TikTokers! WOW!*

Will wonders never cease!

You need pie.

 

What I believe is that amateurs make ‘How To’s’ YouTube and tiktok business videos to become successful traders. Now novices follow them and their strategies blindly and eventually end up losing money. The authentic way to begin trading according to me would be to spend a few months learning about the essentials including the currency pairs, marking the entry and exit points, defining your risk, and the time frame.

 

Tik Tok, Instagram, facebook... and most social media will mess up both teenagers and adults minds way before having an effect on the markets.
And I am all for progress.