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 thousands of 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 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 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.
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.”
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.
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.
