100% of Financial Adverts On Social Media In South Africa Are Scams, According To BrokerChooser

Investment fraud on social media is spiralling out of control, with a new report suggesting that virtually every finance-related ad seen on Facebook and Twitter (now X) is either high-risk or a scam. According to research from BrokerChooser, 100% of financial ads reviewed in South Africa were flagged as deceptive—marking a dangerous turning point in online financial crime.

The report analysed over 5,000 active finance ads in Meta’s ad library across 13 countries and found that many promoted unrealistic returns, unregulated trading platforms, or directed users to messaging apps like WhatsApp, Telegram, or Instagram to avoid detection. While some users encounter educational or regulated promotions, the majority of ads on social media platforms—especially in countries like South Africa, Belgium, and Turkey—fall into a grey area between misleading and outright fraudulent.

South Africa Tops the Scam Table

South Africa is the most dangerous country for financial advertising on social media, with none of the ads reviewed considered safe. An alarming 37.5% were confirmed scams, and the remaining 62.5% were high-risk. The ads frequently promoted forex trading schemes and encouraged users to join WhatsApp groups—an approach designed to bypass platform scrutiny.

UK Users Least Exposed—but Still at Risk

UK social media users fared better than most, with just over two-thirds (66.15%) of financial ads deemed “dodgy.” This included 56.92% classified as risky and 9.23% as outright scams. The UK’s relatively strict regulatory oversight may help explain this lower exposure. Still, only a third (33.85%) of ads were considered safe—highlighting that vigilance is still essential.

Belgium, Turkey, and Germany Not Far Behind

Belgium ranked second, with 94.12% of ads labelled risky or scam. Eye-catching phrases like “fire your boss” or “no challenge sign-up” were common, often linked to prop trading schemes or speculative crypto projects. Turkey came in third, with over 91% of financial ads flagged, many making false claims about daily forex signals or AI-powered returns with “99% accuracy.”

Germany and the UAE complete the top five, both with over 90% of financial ads flagged. In the UAE, fraudsters frequently use high-pressure sales techniques and promises of triple-digit returns within weeks.

Common Tactics: High Returns, Private Channels, and Urgency

Many of the scam and high-risk ads use consistent playbook tactics:

• Promises of guaranteed or exaggerated returns (e.g., “220% ROI in 50 days”).

• Urgent, time-sensitive language (“Hurry! Limited time offer!”).

• Redirection to private platforms to avoid moderation (“Join our Telegram for signals”).

According to Adam Nasli at BrokerChooser, these scams prey on the dream of quick riches:

“Fraudsters exploit social media’s massive reach by targeting users with unrealistic promises. The use of private messaging apps helps scammers continue manipulating victims undetected.”

£75 Million Lost Annually in the UK Alone

The UK’s financial watchdogs have repeatedly warned that social media platforms are failing to prevent scam ads. According to our research from Action Fraud, Brits lose over £75 million every year to investment fraud originating from platforms like Facebook, Instagram, and Twitter/X.

How to Stay Safe

Experts urge users to stay cautious:

• Avoid unsolicited offers and messages.

• Check that platforms and brokers are regulated.

• Look for proper risk warnings and real-world contact details.

• Never trust “guaranteed returns” or claims of zero risk.

If in doubt, report the ad and seek advice from a trusted, regulated source.