Economy
Research Shows 80% of Forex Advice on TikTok May be Misleading
By Modupe Gbadeyanka
A new study conducted by forex broker experts at BrokerChooser has revealed that 80 per cent of advice relating to FX trading by some financial influencers, fondly called fin-fluencers, on TikTok, could be misleading, putting their audience at risk of losing their hard-earned money.
In the research, about 33 per cent of traders said they have been influenced by fin-fluencers to make trading decisions, with 49 per cent of consumers depending on fin-fluencer recommendations.
The experts analysed 100 of the best performing TikTok videos across a range of forex topics to uncover the scale of misinformation. What they uncovered was alarming—from a major lack of disclaimers to a high volume of videos focused solely on flaunting wealth and lifestyle, with little to no trading context.
It was discovered that only 6 per cent of forex advice on TikTok encouraged viewers to do their research, and of the top-performing videos, 60 per cent of content came from male fin-fluencers, 35 per cent from female fin-fluencers and 5 per cent came from unspecified or AI produced content.
Further, only one in seven videos (13 per cent) analysed included relevant disclaimers, such as clarifying the risks involved in forex trading or stating that the content was not financial advice. This lack of transparency is particularly concerning given that one in five videos were actively promoting or selling a product or service, raising ethical concerns about the motivations behind the content being shared.
Disturbingly, the researchers uncovered that half of the forex related content on TikTok (50 per cent) was fin-fluencers boasting about their money made or their lifestyle with no relevant or trading context. Only 9 per cent of videos which included brags about money or lifestyle—fewer than one in 10—came with context as to how they achieved it.
Also, about 23 per cent of forex related content on TikTok contained actual forex trading information. Instead, videos often focused on lifestyle imagery, vague motivational claims or promises of quick wealth. This was often done without disclosing risks or from creators without verifiable credentials, creating a misleading impression of forex trading as a guaranteed route to financial freedom as opposed to a complex, high risk activity.
“The findings of our study are deeply concerning as they shine a light on the overwhelming majority of forex-related content on TikTok as potentially misleading or harmful. The research uncovered that very few creators encourage their viewers to do their own research or provide any meaningful trading information.
“Instead, it seems that the platform is saturated with individuals flaunting their wealth and lavish lifestyle without offering any transparency or context, which could leave viewers vulnerable to false expectations and financial risk.
“This is particularly concerning as a recent SEC report suggested that around 70 per cent of retail forex day traders lost money each quarter and two out of three forex customers lose money overall,” the Content Editor Head at BrokerChooser, Edith Balazs, stated in a report made available to Business Post.
“If you’re serious about learning to trade, TikTok is not the place to start. Reliable forex education should come from regulator accredited sources, such as financial institutions, professional trading platforms, or certified training providers, and not from fin-fluencers trying to sell you a dream.
“Always practice due diligence: question the source, verify credentials, and never take financial advice at face value. Critical thinking, combined with research and regulated education, is the only safe way to approach financial markets,” Balazs added.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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