MyMoneyIndustry Review – Ponzi Scheme – MLM Scam

Website & Company Information

The web domain was privately registered on the 9th of January 2020, and the web domain provider that was used to buy this domain is from Malaysia.

The website does not provide any information about who owns or runs the company. But it does provide an address, pointing to Singapore. When we researched their address on the internet, we found that this address belongs to virtual office provider MEA Business Consultancy.

One thing worth noting is that the company does not provide much details about its social media handles. To our amazement, the Facebook button provided on the site directs nowhere. 

These are the potential red flags that already breaks the deal. We must think once more before investing in a company that fails to maintain the transparency bar.

MyMoneyIndustry’s Products

The company does not have any products or services to offer. Well, it was quite expected from a non-transparent company like this. The only thing they have is their affiliate membership plan, and you know why!

MyMoneyIndustry’s Compensation Plan

The company’s affiliate members buy positions in a five-tier 3×2 matrix cycler.

Now, what is a 3 x 2 matrix cycler? The following explanation might help you:

It is a system that places the affiliate at the top of the matrix. So in case of this 3×2 matrix, the affiliates will have three positions directly under them.

The said three positions form the first level of the said 3 x 2 matrix. Then, the second level of the 3×2 matrix is generated by splitting these first three positions into another three positions each (9 positions).

Positions in the matrix get filled automatically as newly recruited, and the existing MyMoneyIndustry affiliates purchase new positions into the matrix.

Once all these positions (9 positions) are filled, a commission is paid out (cycler commission), and the positions at the top of the matrix are then moved to the next tier.

The cycle commissions across all the 5 MyMoneyIndustry’s cycler tiers are as follows:

  • N1 (positions cost $22) — cycle commission is $40 and then cycles into N2.
  • N2 — cycle commission is $128 and cycles into N3.
  • N3 — cycle commission $540 and then cycles into N4
  • N4 — cycle commission is $2560 and then cycles into N5.
  • N5 — cycle commission is $74,580.

Referral Commissions

The company’s affiliate receives a referral commission when their referral user (direct recruit) purchases a cycler position or cycles into a higher tier.

  • N1 cycler position purchase = $7 referral commission
  • Referral commission for N2 cycle = $32
  • Referral commission for N3 cycle = $160
  • Referral commission for N4 cycle = $840
  • Referral commission for N5 cycle = $4520

Advertising Commissions — The company allows its affiliates to buy ad credits and pays a commission to that said affiliate’s recruiter. So, for example, you recruited someone, and they purchased ad credits, you will get 20% commission.

Joining MyMoneyIndustry

Joining the company’s affiliate membership is free. However, if you want to participate in the attached income opportunity, then the minimum required investment is $22 — position cost of the N1 cycler.

Conclusion

MyMoneyIndustry is just another cycler that tries to create a risk-free environment. With the minimum required investment at $22, many people may think of trying this opportunity and may hope to win $61020 or more.

But we must consider one important factor — that the money is sourced from consistent position purchases by new recruits. This system makes MyMoneyIndustry a typical Ponzi scheme (just like the other cyclers we have covered before). And add to that the attached Referral commissions scheme, we have just made the perfect recipe of a typical Pyramid scheme!

And when this consistent recruitment slows down, MyMoneyIndustry will collapse. There will be a time when the company stops paying its existing affiliates.

It is not that hard to say that this opportunity will surface for only one month to six months. We do not recommend MyMoneyIndustry.