Fake it till you make it: meet the wolves of Instagram

The original Wolf of Wall Street, Jordan Belfort, was a rogue trader convicted of fraudulently selling worthless penny stocks to naive investors. His biopic, starring Leonardo DiCaprio as the ostentatious, money-obsessed huckster, was a box-office hit in 2013. Although it may have been intended as a cautionary tale, to thousands of young millennials from humble backgrounds, Belfort’s story became a blueprint for how to escape an unremarkable life on low pay.

Within months of the Wolf of Wall Street’s UK premiere in January 2014, a stocky 21-year-old named Elijah Oyefeso from a south London housing estate, began broadcasting on social media how much money he was making as a stock-market whizzkid. His thousands of young followers were desperate to do the same. As Oyefeso’s online fame grew, he caught the attention of TV producers. In January 2016, Oyefeso was featured in the Channel 4 show Rich Kids Go Shopping, in which he bought expensive jumpers to give to homeless people and showed viewers how easy it was to make stock trades online.

Even before Oyefeso’s appearance on mainstream TV, his story had already gone viral. British tabloids, including the Daily Mail, the Evening Standard and the Mirror, as well as a host of online magazines targeted at young men, all ran pieces about his success. The Mail headline (http://www.dailymail.co.uk/femail/article-3383759/University-dropout-stockbroker-spends-150-000-supercars.html#ixzz3wN9ongBD) described him as a university dropout who supposedly used his student loan to start trading financial products online and “now claims he earns £30,000 on a BAD month – by working just ONE HOUR a day”.

It’s an image of self-made wealth and ridiculous luxury, and one that Oyefeso has intensively cultivated online. The videos on his almost comedic YouTube channel (https://www.youtube.com/channel/UCk4fZzhD8fStRHITL4sP_LA/featured), which have hundreds of thousands of views, feature him buying £250,000 cars and boarding private jets as nonchalantly as others his age might hail an Uber. His Instagram (https://www.instagram.com/elijah_oezz/?hl=en), which regularly shows him posing next to a blue and silver Rolls-Royce, describes him as the founder of DCT, his trading firm. DCT stands for “Dreams Come True”.
“I’m never going to work for someone,” Oyefeso says in one of his videos, in a somewhat cartoonish, nasal voice, while he drives his Rolls dressed in a bathrobe. “Look what I’ve built: a foundation. A brand.”


https://www.theguardian.com/news/2018/apr/19/wolves-of-instagram-jordan-belmont-social-media-traders

There's a sucker born every minute. lol

However, aggressive affiliates, and those with an eye for marketing opportunities, have taken far more out of the retail FX industry than FX punters have. Speaking to an old mate in the spreadbetting industry, he tells me his highest paid affiliate gets between 20-30k a month, from a one person run website. Pens a few articles a month, tweets, uses other social media, gets traffic, converts it. Not too shabby.

In the good ol' days you used to run the snakeoil salesman out of town after a bit of mandatory torture. I miss those days. :-)

And there's no genius born every minute. day or year

waiting to meet or see a genius from the get go without any success
i have this disease i called boredom, cuz everyone on earth looks the same like me, thinks too, act too, eat too, walk too, read too, watching too, making sx too, everything is the same so genius is another word and we name names that's it

laugh too

The original snakeoil in (and from) China had excellent healing properties apparently, what killed its rep was con men faking it. Always worth remembering that human nature hasn't changed since we evolved.

Forget that guy. I need to quit my job and get trading NFP on my phone with 30 lots.

https://www.youtube.com/watch?v=-JY22pXnevc&t=77s

Yeah, the guy in OP's article is a known scam artist. Check it out: http://www.dcttradingexposed.com/

lmfao