Latest news with #T4Trade
Irish Examiner
6 days ago
- Business
- Irish Examiner
Irish Examiner view: The best ancient advice in the world
You don't need a whole slew of professional qualifications to be an influencer. A certain native charm is helpful; good looks can always go down well with the easily-impressed; a way with words is an obvious advantage as is the ability to put together a convincing video roll. Building a reputation for expert and inside knowledge is key to the enterprise. Influencer marketing is an activity which was barely known a decade ago and its impact was accelerated by the explosive growth of social media and during lockdown when many of us had more time on our hands than was good for us. We are a country which has become wedded to social networks with up to three quarters of our population owning one or more accounts. Modash, an influencer marketing and analysis agency, headquartered in Estonia, says it has found 12,032 Irish Instagram influencers with up to 500,000 followers and the majority of their audience in Ireland. For a fee it will analyse every creator not only on this platform but also on YouTube and TikTok. Citizens may enter this bewildering landscape for a whole host of reasons, and many may be wholly harmless. A search for the best way to make falafel for example, or guidance on how to knit a plaited stitch; or directions to the best beaches in Galicia. But there are other subjects on which it is best to rely on a phrase which preceded the arrival of the internet by nearly 3,000 years. 'Caveat Emptor' — buyer beware. Medical advice certainly falls into this category. It's quite easy to find GPs who will tell you hair-raising stories about patients who arrive in their surgeries having carried out comprehensive search engine diagnoses of their symptoms and seeking sign-off and confirmation of their ailments and maladies. And the other topic where caution is required is, of course, financial information, where the Central Bank of Ireland has reissued advice to consumers that if they deal with an unauthorised firm then there is no recourse to statutory compensation schemes or the Financial Services and Pensions Ombudsman. 'Consumers are advised to check the official Central Bank website to see if the firm is authorised by the Central Bank' its statement to the Irish Examiner says. Mr Finlay, who has 260,000 followers on Instagram and 586,000 on TikTok, has built a reputation in recent years by posting food reviews and luxury lifestyle content. He frequently shares photos and videos of himself on first-class flights, at Premier League matches, and on holidays in Dubai. He also runs several channels on instant messaging app Telegram, which are focused on making money on T4Trade. He suggests that people copy his trades. The platform carries a disclaimer that it is not targeted to residents of the EU where it is not registered Mr Finlay says he charges €1,000 for access to a VIP channel which is owned and operated by him, but regularly allows small groups of people to enter 'free of charge,' for limited amounts of time, encouraging people to join quickly before access to the group closes. In historical terms, we are in the early days of trading and commerce on the internet and there are many lessons which still have to be learned. But as with any activity taking place on a new frontier, it is sensible to be cautious. It may not make you a fortune, but it can protect you from crushing disappointment. Or to quote T4Trade's own website: 'Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital.' Old wild men have left the stage this week It has been, we must acknowledge, a bad week for old wild men. First the curtain came down on Ozzy Osbourne, 76, the founding father of the metalheads, whose last concert at Villa Park a couple of weeks previously was recalled by an Irish Examiner writer who proclaimed it as 'not just a celebration of music and legacy, but of life itself'. The self-styled Prince of Darkness nearly sacrificed his life on several occasions to excesses of various types but earned a place in people's hearts through his endearing MTV reality show, The Osbournes, which reached way beyond the aficionados of thrash metal. On the same day, a different kind of rugged hero departed with the passing of Joey Jones, stalwart of Liverpool, Wrexham, and Chelsea whose fist-pumping exhortations to fans were a familiar scene at soccer grounds across Europe in the 1970s and 80s. Jones, 70, born in a North Wales council house, was a rampaging left-sided defender whose never-say-die attitude won the hearts of those on the terraces. Hulk Hogan, who died on Thursday, was for more than a decade the ubiquitous face of wrestling bringing WWE to prominence with theatrical performances and a dominating physique. Hogan, who acknowledged that he took steroids, stood at 6ft 7in and weighed 145kg. His appearance was set off by a droopy blonde moustache and a T-shirt that he liked to rip open at the height of his exuberance. Hogan, 71, died from apparent cardiac arrest. In later years he was a voluble supporter of US president Donald Trump who counted 'the Hulkster' as a personal friend. There will be an opinion that men aren't made like this anymore but whether it's a snatch of the opening riff of 'Paranoid', a recollection of the famous 'Munching Gladbach' banner, or a highly colourful bandana, they will stay in our collective memories for the forseeable. Fair deal for cancer survivors is overdue There are few things more powerful than an idea whose time seems to have come. The concept that age is no barrier; changes to abortion law; elective death; reform of drug laws. To this we can add the proposition that for too long cancer survivors in Ireland have been discriminated against by the providers of financial services, with many struggling to obtain products such as mortgage protection and travel cover. For many years, the Irish Cancer Society has been campaigning for what it describes as 'the right to be forgotten', which means that there will be no obligation to disclose a previous diagnosis more than five years after active treatment has been concluded. Anyone who has filled in an insurance application form will be aware that there are requirements to declare any previous medical conditions, the inclusion of which can add, often considerably, to the premium charged or refusal to provide a policy. Failure to provide such details can result in policies being declared null and void. But change is afoot and legislation is now expected to be passed by the Oireachtas this autumn. It was first introduced in the Seanad by then Fianna Fáil senator Catherine Ardagh in October 2022, and was reintroduced by her as a TD in the Dáil in February. Now it has been taken up by the Government, whose junior finance minister Robert Troy — who has lost two siblings to the disease — describes the situation as 'challenging and unfair'. The Central Bank (Amendment) Bill will give statutory weight to what was previously a voluntary code of practice, which was not universally adopted, and will bring Ireland into line with laws which are already in place in France, Germany, Netherlands, Belgium, and Luxembourg. Under existing guidelines, a survivor can access mortgage protection after seven years of remission or five years if individuals were diagnosed when under the age of 18. While the proposed new law does not cover travel insurance this will be a logical next step for campaigners. The Government, says Mr Troy, has focussed first on 'where the need is greatest and where there is the clearest evidence base'. Removing the uncertainty around house purchase is certainly a priority, but there is an equivalent value emotionally of liberating people from being defined by the most difficult chapter of their lives. Loss adjustors and risk assessors will, no doubt, point to the costs. It is their job to do so. But the rest of us may consider that, in a country where hundreds of thousands of people have been visited by cancer, it is a price worth bearing. Read More Irish Examiner view: Rural communities are losing their light
Irish Examiner
7 days ago
- Business
- Irish Examiner
River Island at risk of collapse if landlords fail to back restructuring plan
River Island has said it could collapse unless its landlords back a restructuring plan involving the closure of 33 stores and a sharp reduction in rent payments. In documents outlining fresh details of the plan, which was first announced in June, the high street fashion retailer said it needed £10m (€11.4m) in funds by the second week of September. It warned that figure could rise to £50m (€57.3m) by the end of the year. If the plan to reduce rents was not approved, via a vote and court hearing expected next month, the company told creditors it could run short of cash by the end of August and would be 'unable to pay its debts as they fall due'. As a result, River Island would not be able to continue trading as a going concern and would be subject to administration or other insolvency proceedings, it said in details first reported by the Telegraph. The fashion retailer blamed its woes on 'a sharp rise in the cost of doing business over the last few years' and the shift to online shopping, which, it added, had left it with a large portfolio of stores that was no longer aligned to its customers' needs. River Island's troubles come despite a strong spring for fashion retailers helped by warm weather. That followed a difficult 2024 and start to 2025 as households reined in spending on non-essentials, including clothing, to cover the rise in the price of everyday items such as food and utility bills. The company said it had lined up £40m (€45.8m) in new funding from the investment vehicle of the Lewis family, who founded River Island and still control the business. A spokesperson for River Island said it had put its plans to creditors a month ago and added: 'We have been having positive conversations with key stakeholders and are confident that we will achieve approval of the plan in the next few weeks.' Blue Coast Capital is the retailer's biggest lender with outstanding debts totalling £270m (€309m), according to the restructuring documents. It has agreed to an interest rate payment holiday and to push out the repayment date on its existing debts from 2027 to 2028 as part of River Island's fight for survival. River Island swung to a £33.2m (€38m) loss in 2023, according to its latest accounts filed at Britain's Companies House, after sales fell by more than 19% to £578.1m (€662.5m). It made profits of £2m (€2.3m) in 2022. In January, the group launched a cost-cutting effort including a redundancy programme at its London head office, affecting departments such as buying and merchandising. River Island, formerly known as Chelsea Girl, began selling clothing under the name Lewis's in the 1940s. The Guardian Read More Central Bank investigating Irish influencer's promotion of unregulated trading platform T4Trade
Irish Examiner
7 days ago
- Business
- Irish Examiner
Central Bank investigating influencer Jonathan Finlay over promotion of unregulated trading platform T4Trade
The Central Bank of Ireland is looking into a matter concerning Irish influencer and content creator Jonathan Finlay, who has promoted an unregulated trading platform to more than half a million online followers. Boasting more than 260,000 followers on Instagram and 586,000 on TikTok, Mr Finlay, who also goes by Nasti_2k online, has made a name for himself in recent years by posting food reviews and luxury lifestyle content. The creator frequently shares photos and videos of himself on first-class flights, at Premier League matches, and on holidays in Dubai. However, the influencer also runs several channels on instant messaging app Telegram, which are focused on making money quickly from financial trading using a platform called T4Trade. In these channels, Mr Finlay encourages people to copy his trades, telling them what they should buy and sell. T4Trade disclaims on its website that it is not targeted to residents of the EU, where it is not licensed. In emails seen by the Irish Examiner,the Central Bank said neither T4Trade nor Mr Finlay was authorised to provide financial services in Ireland. 'The Central Bank can confirm that a firm by the name T4Trade is not authorised by the Central Bank to provide financial services. Further to this, we can also confirm that Jonathan Finlay is not authorised to provide financial services or advice.' The regulator also said that it was 'currently looking into this matter.' In a statement to the Irish Examiner, the Central Bank added: "Whether a particular entity or individual requires to be registered or authorised by the Central Bank depends on the exact nature of the services provided by the entity or individual. 'VIP' Channels Mr Finlay, who is based in Dublin and claims his primary income is from trading, heavily promotes the T4Trade platform, promising those who use it can copy his trades as well as receive 'VIP' attention from him. Mr Finlay says he charges €1,000 for access to a VIP channel which is owned and operated by him, but regularly allows small groups of people to enter 'free of charge,' for limited amounts of time, encouraging people to join quickly before access to the group closes. 'I show people how to make hundreds from their phone the same way as me for free,' Mr Finlay said in one of his Telegram channels with some 14,000 subscribers. 'But after next week, entry to the group will be €1,000.' For those in the VIP group, Mr Finlay shares his trading activity, which he says will earn his followers a profit if they use the T4Trade platform to copy his trades. 'Currently, there are over 2,000 people in my VIP group making consistent profit just from copying the exact same trades as me,' Mr Finlay told subscribers. To join his VIP channels, Mr Finlay also encourages followers to invest a minimum of €300 into the unauthorised platform T4Trade, which is registered in the Seychelles, adding that he will help 'guide' newcomers who are inexperienced in trading. 'By joining the VIP, you'll get access to: My daily trades, 24/7 support to help you get up and running and help with any issues, and educational material.' In another message sent to his 14,000 Telegram subscribers, Mr Finlay said those in his VIP group saw a '100% profit rate on trades,' across a one-week period, with 'not a single loser.' In another post, Mr Finlay said he would buy himself a new car with the money he made from trading. 'I'm in the market for a new motor,' Mr Finlay told subscribers earlier this month. 'I've been grinding lately and made serious profit on trading this year, so it's finally time to treat myself.' Mr Finlay continued by asking subscribers to vote on which car he should buy, choosing between a Porsche, a BMW X5 and a G Wagon. In a video post from July 20, Mr Finlay claimed he invested €50,000, saying he 'finally put pen to paper." 'In two weeks time, it will be exactly one year since I left my night shift job,' Mr Finlay said. 'If you told me then that I would be able to do all the things that I have been able to do; going on first and business class flights, private jets, going out to Dubai, 11/12 holidays this year, it is insane, and it is all because of trading.' T4Trade Describing itself as a 'global leader in online trading,' T4Trade is a trade name of Tradeco Limited, which is registered in the Seychelles. The platform also states that it is not targeted at residents of the EU, where it is not licensed, and that it does not offer its services to residents of certain jurisdictions, including the USA, Iran, Cuba, Sudan, Syria, and North Korea. In a risk warning published on its website, T4Trade says: 'Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. 'These products may not be suitable for everyone and you should ensure that you understand the risks involved.' In addition to the platform being unauthorised in Ireland, several EU regulators have issued warnings against the company. In October 2024, the Danish Financial Supervisory Authority issued a warning against T4Trade, adding that many Danish-speaking influencers were soliciting their followers to invest with the platform. Similar warnings have been issued in recent years by French, Spanish, Belgian, Portuguese, and Dutch regulators. Trading affiliates Despite claiming it does not target EU residents, the platform runs an affiliate program that EU residents can join, which is advertised as being 'well-suited to individuals and businesses who focus on driving traffic via a website or digital media and are usually digital marketers, social media influencers, bloggers, or SEO professionals.' It continues by saying it can provide affiliates with 'expert support' and 'exclusive marketing tools' to introduce the platform's products to their audiences and boost their conversion rate. The platform also says it offers 'competitive remuneration plans, including CPA commissions and extra cash bonuses.' T4Trade advertises bonuses of up to $10,000 for affiliates on its website, as well as tailored commission plans and performance-based upgrades. Mr Finlay has not confirmed to his followers whether or not he is an affiliate for T4Trade or if he receives payment from the platform for referring others. In a statement to the Irish Examiner, the Central Bank of Ireland said: 'The Central Bank is bound by strict statutory obligations of confidentiality and is precluded from commenting on the specific investigations it undertakes. 'Consumers should be aware that if they deal with a firm that is not authorised, there is no recourse to statutory compensation schemes or the Financial Services and Pensions Ombudsman.' 'Consumers are advised to check the official Central Bank website to see if the firm is authorised by the Central Bank.' The Irish Examiner has contacted Mr Finlay and T4Trade for comment.
