The people that fall for the social media twitter/tiktok/youtube/reddit scammers will always fall for them, regardless of the medium.
Interesting that you should say about that Gamestop stocks. I cannot not see that same happen to forex, but I do not think the impact will be that big as compared to that stocks.
The squeeze still hasn't happened with Gamestop, the run up last January was just from people buying it. Why it has stayed so high all year, people are buying it roughly 9:1 versus people selling it on any given day.
tiktok may pull younger generation into trading FX but i don't think it can have any major impact on fx.
Forex is a big name. A mere app like tiktok can’t ruin it. A tiktoker who thinks he can outsmart the market will probably be answered by the market itself.
The worst problem these days is ‘information overload’. Decades ago there used to be not many social media platforms and the information was scarce. Even the information sources at that time were legit and verified. However, these days there’s no end to the amount of information you can get. Whatever your opinion is you can find something to support that. If you believe that forex can make you rich quickly, you can find many people on the internet making your belief stronger with all the false information.