Tradera Review – Ponzi Scheme – MLM Scam

Website & Company Information

The web domain of the company was registered privately on the 22nd of August 2019 and was later updated on 2020–02–04.

The company is incorporated in Dallas, Texas — the United States. And it is run by Kody Sell & Eastan Harris.

Apart from the names and pictures of these executives, we couldn’t find anything substantial about their background.

Alright, not much to disclose here, let us move down to the next section of this review where we see if the company is offering any product or not.

Tradera’s Products

Tradera’s offers forex trading education materials and signal services to its clients.

Below is the list of services they have:

  • Live Trading Sessions
  • Trade Alerts
  • Fundamental Analysis
  • Market Forecasts
  • Tradera Events

The monthly membership fee for these services is $99.

Tradera’s Compensation Plan

The company pays referral commissions to its affiliates for bringing in new users and getting some sales. One thing to note here is that a Tradera affiliate must sell and maintain three client subscriptions to qualify for commissions.

These commissions are paid based on ranks, and each rank has its respective criteria, as follows:

  • Founder rank — Maintain three active premium members on three legs.
  • Knight rank — Maintain four active premium members on your first leg, four active premium members on your 2nd leg, and two active premium members on your 3rd leg.
  • Knoble rank — Maintain then active premium members on your first leg, then active premium members on your 2nd leg, and five active premium members on your 3rd leg.
  • Bishop rank — Maintain thirty active premium members on your first leg, thirty active premium members on your 2nd leg, and fifteen active premium members on your 3rd leg.
  • Duke/Duchess rank — Maintain hundred active premium members on your first leg, hundred active premium members on your 2nd leg, and fifty active premium members on your 3rd leg.
  • Prince/Princess rank — Maintain two-hundred active premium members on your first leg, two-hundred active premium members on your 2nd leg, and hundred active premium members on your 3rd leg.
  • King/Queen rank — Maintain four-hundred active premium members on your first leg, five-hundred active premium members on your 2nd leg, and two-hundred active premium members on your 3rd leg.
  • Emperor/Empress rank — To hit this rank, maintain one-thousand active premium members on your first leg, one-thousand active premium members on your 2nd leg, and five-hundred active premium members on your 3rd leg.
  • Legend rank — To hit this rank, maintain two-thousand active premium members on your first leg, two-thousand active premium members on your 2nd leg, and one-thousand active premium members on your 3rd leg.

Once an affiliate qualifies for a rank, attached above, the company pays the following commissions:

  • Founders — No Commission but free subscription
  • Knights — $125 per week
  • Nobles — $250 per week
  • Bishops — $500 per week
  • Dukes and Duchesses — $1250 per week
  • Princes and Princesses — $2500 per week
  • Kings and Queens — $5000 per week
  • Emperors and Empresses — $12,500 per week
  • Legends — $25,000 per week

Joining Tradera

Affiliate membership fee is $19 per 28 days. One can opt for a $99 subscription if they require full services.

As mentioned above, the founder ranked affiliate gets the benefit of a subscription waiver, however after ranking up, the fees become normal.

Conclusion

One good thing about Tradera is it is not accepting any investment. The company is not marketing any ‘passive income’ opportunity. Instead, it is charging a fee for its services and providing actionable items to its clients.

But here are some essential things to consider:

  1. We can see who runs/operates the company. But we could not find anything substantial about the team.
  2. What is the corporate track record of the team?
  3. The company is publishing forecasts and giving trading calls to its clients. Who are the experts who are analysing the markets and giving you the trading calls? It would be very helpful for the clients and for us to see if they are licensed by any financial institution because, in the trading industry, one cannot provide any financial advice without possessing a license.

Federal Trade Commission (FTC), a U.S. government agency may go hard on this company if they find Tradera operating without any of these disclosures.

About the Refund Policy

95% of these so-called financial experts make money, not by trading but by giving trading calls. They charge a fee for their services because they cannot trade for themselves, and they cannot make money on their own calls.

Tradera charges $99 per month, but have kept the refund window only 3 days.

It is impossible to conclude in just 3 days whether a trading signal service works or not. It is highly likely that the subscribers are not able to make back their $99 and by the time they realize this, the refund policy window is gone!!

We would appreciate if the subscribers could avail a trial membership of the said service, make money and join the full program with those profits.

Or, the company could increase the refund policy window to a minimum of 15 days.

Keeping aside the lack of disclosure and shady monthly program, the address provided by the company is a PO box in Texas.

For now, there are so many RED SIGNALS, and we would suggest proceeding with caution. There are chances that someone visited your inbox with their tradera referral link and educated you about the ‘revolutionary’ services of Tradera. Ask them one question, if they are making money from Tradera services, then why would they need to convince people to signup using their link. Why do they choose to make money the hard way (referral marketing) and not the easy way (just following the signals)

Also, ask for proof if the said service is really profitable.

For us, Tradera just doesn’t do justice.