WHAT DO SOCIAL MEDIA FIRMS SAY?

Facebook

Facebook, which owns Instagram, said it did not allow fraudulent behaviour and it actively blocked millions of accounts every day. Investment influencers are allowed as they offer guidance, rather than tailored financial advice that would require specific qualifications. Facebook removed an account promoting cryptocurrency trading when Telegraph Money asked if it fitted with its guidelines. It has a tool that users can use to flag content that might be illegal, such as investment scams that promise high returns.

TikTok

TikTok does not permit users to exploit the platform to bring about financial harm to others. This includes schemes to defraud individuals or steal assets. It does not allow content that promotes investment schemes with promise of high returns, fixed betting, or any other types of scams. However, there are no rules against people sharing their stock market views, as this would be guidance and not advice.