Is Mirror Trading International A Scam?
I get so tired of talking about these MLMs that continue to focus on Bitcoins as investments.
Usually I see Health and Wellness MLMs, but the Bitcoin niche seems like a very popular business opportunity.
Which brings up today’s article in which we will be discussing Mirror Trading International. Many of you are wondering if this company is a scam or not.
So today I plan on going over everything you need to know about this company.
Including their background information, cost to join, and how well they compensate its members.
After reading this review, you will know if this company is right for you or not.
MarketPeak Review Summary
Product Name: Mirror Trading International
Founder: Johan Steynberg
Product Type: MLM, Forex Trading
Price to join: $100 to $10,000
Best For: No one
Summary: Mirror Trading is another MLM opportunity that operates in the forex trading niche. The main source of earning income is through recruiting others into the business. There are no products to sell which pretty much makes it a pyramid scheme. The fact that they have you invest in Bitcoins, but aren’t properly registered, just screams Ponzi Scheme. It’s best to just stay away.
Frequently Asked Questions
1.) What is Mirror International Trading? The company is based out of South Africa and the person who founded the company is named Johan Steynberg.
He created Mirror International Trading for those looking to jump into the Bitcoin investment industry.
They claim that you don’t have to do much to earn a return on your Bitcoin investment. Basically you’re receiving passive income.
2.) How do you make money with them? Mirror Trade offers you two ways in which you can earn income.
The first is through investing in their Bitcoin. The hope with this investment is to eventually receive a return on your investment.
The second way to earn is through recruiting.
The goal is to build your downline so deep, that not only will you receive a commission when you recruit someone, but when those you recruit also bring people into the business.
3.) What are the red flags?
You bet there is…
In order to be given the ability to create an investment vehicle like they have, you have to be registered.
The reason why this is important is because you have to prove your members are actually earning money on their investments.
Therefore you have to show financial documents that members can view. Mirror Trade doesn’t have this which means they are operating illegally.
Does Mirror Trading International Operate Like A Pyramid Scheme?
You betcha! Keep in mind that not all MLMs are pyramid schemes, but this company definitely is.
Like i stated earlier, MIrror Trade offers two ways in which you earn income. That is with your Bitcoin Investment, and recruiting people into the business.
The fact that there are no products you can sell, tells you it’s a pyramid scheme. Which in some countries if not all, is deemed illegal.
Is Mirror Trading International A Ponzi Scheme?
OH yea! You have to understand, when you’re dealing with investor money, it’s important to document your sources of income.
They make the claim that your returns are automated, therefore there’s nothing you need to do.
Based on this information, this makes Mirror Trade a securities business, and thus needs to be registered.
But it’s not! Instead of revenues coming from investment returns, most of the money comes from recruiting people into the business.
This is a clear sign that it is a ponzi scheme. Also keep in mind that once you stop recruiting, so does your income.
Getting Started With MarketPeak
How Much To Join Mirror Trading International?
The one thing you need to understand is that the more you invest, the more you are compensated.
However there is a minimum investment to join Mirror Trading International, and that amount is $100.
But if you invest $10,000, you can get access to the entire compensation plan.
You also earn more if those in your downline happen to invest more into the business.
Mirror Trading International Compensation Plan
Like most compensation plans, Mirror Trading International compensation plan is long and complicated.
This is obviously done to confuse the heck out of you so that you’re not asking too many questions.
Their chart shows a bunch of tiers and levels that are supposed to give you a breakdown of what you can earn.
Let me give you a quick summary of it below.
You get a 10% commission on whatever someone you personal recruit into the business invests in.
This is where you can earn income exponentially.
The deeper and wider you build out your downline, the more money you can earn when they bring people into the business.
Therefore it pays to recruit as many people as you possibly can.
Also, it helps to make sure those under you are recruiting as many people into the business as they can.
This can create a great source of passive income if built right. But remember, the amount you get, also depends on how much you invest.
Here’s what you could potentially earn:
- Invest $200 to $999 earn 10 levels down.
- Invest $1000 to $4999 earn 20 levels down.
- Invest $5000 to $9999 earn 30 levels down.
- $10,000+ earn from unlimited levels down.
Mirror Trading International also sets aside 20% of company wide revenue. Your commissions are based on the amount of people who invest into the business.
What I Like About Mirror Trading International
I couldn’t really find much to like about this company.
What I Don’t LIke About Mirror Trading International
Pyramid Scheme: In order to avoid being called a pyramid scheme, you have to have products to sell.
But when you incentivise your members to only recruit, it’s safe to say you may be operating as a pyramid scheme, which is illegal.
Possible Ponzi scheme: when you’re dealing with investor money, you have to be registered in the state you’re offering your services in.
That's because you’re dealing in securities and have to provide proof of revenue. I don’t see MIrror Trade disclosing and financial reports which one can assume is a Ponzi scheme.
Low success rate: ask anyone who has ever joined an MLM, and more than likely they are no longer doing it anymore.
That’s because most people lack business experience. Not only that, but the ones who usually succeed in MLMs are those at the top of the pyramid.
Also, the business model isn’t sustainable. In order for you to earn income, you have to recruit. Once that stops, so does the money.
Is Mirror Trading International A Scam?
It sure smells like a scam. Look, there are some serious red flags you have to be aware of.
They are not registered to sell securities which means they are potentially operating a ponzi scheme.
They don’t have any products or services to sell, which also means they are operating a pyramid scheme.
All of these flags may be deemed illegal.
So the question you have to ask yourself is, why would you want to get involved in a business that sounds sketchy as hell?
I would strongly recommend that no one joins this business, unless you just like losing money.
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