What is the Word of Faith movement?

The Word of Faith movement grew out of the Pentecostal movement in the late 20th century. Its founder was E. W. Kenyon, who studied the metaphysical New Thought teachings of Phineas Quimby. Mind science (where "name it and claim it" originated) was combined with Pentecostalism, resulting in a peculiar mix of orthodox Christianity and mysticism. Kenneth Hagin, in turn, studied under E. W. Kenyon and made the Word of Faith movement what it is today.

The principle behind this is that you are created in the image of God, you have creative powers. God spoke things into being, because He was the Creator, and likewise you as an image bearer has the same creative ability to create with your words. Following from this, your words is pockets of faith. The spiritual world is governed by rules. Faith is a force and what you speak positively therefore must happen and God has no choice but to honor the laws of faith. This makes God a puppet and a genie in a lamp that are controlled by the words of humans. God become a force at your disposal to use to get what you want.

Countering Word of Faith teaching is a simple matter of reading the Bible. God alone is the Sovereign Creator of the Universe (Genesis 1:3; 1 Timothy 6:15) and does not need faith—He is the object of faith (Mark 11:22; Hebrews 11:3). God is spirit and does not have a physical body (John 4:24). Man was created in the image of God (Genesis 1:26, 27; 9:6), but this does not make him a little god or divine. Only God has a divine nature (Galatians 4:8; Isaiah 1:6-11, 43:10, 44:6; Ezekiel 28:2; Psalm 8:6-8). Christ is Eternal, the Only Begotten Son, and the only incarnation of God (John 1:1, 2, 14, 15, 18; 3:16; 1 John 4:1). In Him dwelt the fullness of the Godhead bodily (Colossians 2:9). By becoming a man, Jesus gave up the glory of heaven but not His divinity (Philippians 2:6-7), though He did choose to withhold His power while walking the earth as man.

The Word of Faith movement is deceiving countless people, causing them to grasp after a way of life and faith that is not biblical. At its core is the same lie Satan has been telling since the Garden: “You shall be as God” (Genesis 3:5). Sadly, those who buy into the Word of Faith movement are still listening to him. Our hope is in the Lord, not in our own words, not even in our own faith (Psalm 33:20-22). Our faith comes from God in the first place (Ephesians 2:8; Hebrews 12:2) and is not something we create for ourselves. So, be wary of the Word of Faith movement and any church that aligns itself with Word of Faith teachings.

Source: Got Questions Ministries, Is the Word of Faith movement biblical?