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MTM verification: Will it keep scamsters out or serve as a bullying tool?

Fintwit is pushing traders to get their profits ‘verified,’ but traders are divided about it

November 30, 2022 / 06:01 PM IST
A trader can opt to get their MTM statement verified by Sensibull and share the link on their social-media platform. (Photo by Tara Winstead/Pexels)

A trader can opt to get their MTM statement verified by Sensibull and share the link on their social-media platform. (Photo by Tara Winstead/Pexels)

Options trader PR Sundar is caught in the middle of a Twitter storm because of a distasteful post. But what started it all was the demand that Sundar get his mark-to-market (MTM) statement verified through a free service offered by an online trading platform.

The MTM statement is a touchy subject because traders use it to attract more enrollments for their classes and strategy seminars. The profit shown on the statement is top advertising content for posting on social-media channels.

Also read: MC Explains: The (fake) P&L screenshot debate that has traders divided

The problem is that these statements are mostly screenshots that can be altered. This is why online trading platform Sensibull began offering the service to verify the MTM statements of traders.