The FCA’s enforcement against ‘finfluencers’ has soared since 2024, as regulators ramp up online crackdown globally

The data, sourced by the online broker experts BrokerChooser, shows that enforcement actions undertaken by the FCA against financial influencers increased by +174% in 2025. This continues a trend seen in 2024, when enforcement actions soared by +2,600% compared to 2023.

This is a stark contrast compared to earlier years, when enforcement activity against financial influencers remained minimal. Only six actions were taken in 2021, dropping slightly to four in 2022 and hitting a record low of just one in 2023.

The online investing environment remains high-risk due to limited criminal prosecution and arrests

Between 2020 and 2025, the Financial Conduct Authority relied heavily on warning alerts (50) and interviews under caution (40), but the number of cases escalated to formal legal action remains surprisingly low. In fact, just 12 criminal actions were taken, and only three financial influencers have been arrested under the FCA’s jurisdiction since 2020.

The anonymity of online platforms and the sheer volume of content uploaded daily can often provide influencers with a protective shield, making prosecution challenging. By ‘finfluencers’ disguising their promotions as ‘educational’ content or ‘personal experience’, harmful material can fall into a grey area that complicates formal regulatory action, meaning the online investing environment remains risky.

This means misleading content can still circulate widely before regulators intervene, which is particularly risky for younger and less experienced investors who may not fully understand the dangers. Influencers can delete and re-upload posts, and repeat offenders may continue until escalation occurs.

Adam Nasli, Head Broker Analyst at BrokerChooser, commented:

A practical rule of thumb for retail investors online is this: if an investment opportunity or product cannot be accessed through a well-regulated online broker supervised by authorities such as the FCA, the SEC or major EU regulators, investors should approach it with extreme caution – or avoid it altogether. Regulation does not eliminate market risk or even the risk of fraud, but it significantly reduces the likelihood of bad actors holding on to traders’ money and the emergence of misleading structures and uneven playing fields.

The same principle applies to new platforms and emerging technologies such as social trading and artificial intelligence. Copy trading on platforms like eToro works not because it promises outsized returns, but because it enforces transparency: investors can assess real-money performance, risk scores, and historical drawdowns. Following traders with at least three – and preferably five – years of track record offers no return guarantees, but it materially improves the safety framework around the decision.

AI-driven tools can also play a meaningful role by supporting research and decision-making, potentially reducing reliance on traditional advisors or wealth managers. However, using AI in isolation – for portfolio construction, market timing, or asset allocation – carries significant risks and cannot be considered prudent financial behaviour.”

80% of trading videos on TikTok contain misleading information

Concerningly, BrokerChooser’s previous analysis of 100 TikTok trading videos found that just 6% encouraged viewers to do their own research, while a staggering 80% contained potentially misleading information. A common trait of problematic finfluencer content is the emphasis on displaying wealth and promoting quick, effortless paths to success. This type of content is designed to trigger fear of missing out and emotional decision-making, often luring users with claims of fast returns or investments framed as ‘risk-free’.

In reality, all investments carry risk, and anyone pressuring you to act quickly should immediately raise red flags. It’s crucial not to let your guard down and always stay up to date with the latest scams. Be sceptical of advice from unregulated sources and never make rushed financial or investment decisions based on social media hype.

Global ‘finfluencer’ crackdown: Where the UK stands

Figures on enforcement activity were obtained via FOI from Financial Conduct Authority (FCA), Autorité Des Marchés Financiers (AMF), British Columbia Securities Commission (BCSC), Alberta Securities Commission (ASC), Ontario Securities Commission (OSC), Australian Securities & Investments Commission (ASIC) and the Securities and Commodities Authority (SCA)

Despite having the largest population among the four countries, the UK recorded less than half the number of actions enforced by regulators in Canada in the same period (277), with 112 actions.

While the FCA has taken steps to address misleading financial advice, the comparatively lower level of enforcement, alongside limited activity targeting ‘finfluencers’ before 2025, highlights the opportunity for regulators to intensify efforts throughout 2026. This will continue to benefit social media users in the UK, improve investor protection and curb online financial misconduct.