It’s likely that you have come across Tradera through an email list, on social media or got it recommended by a friend or family member.
Is Tradera a scam? The reasons why you’re here is because you have want answers right so, that’s what I’m going to provide for you within this Tradera review.
First and foremost I must commend you for actually doing a bit of extra research before committing to joining Tradera. For all you could have known, the product could be a major scam so the fact you’re here right now, researching whether or not that’s the case is a pretty smart move on your part.
To be fully transparent with you, I am personally not a member of Tradera so I can assure you that I will not attempt to sell you it unless of course it’s worth investing in.
What I will aim to do is provide you with an unbiased 3rd party look at Tradera that will hopefully help you to make the best decision you can in the end.
PRODUCT NAME: Tradera
OWNER/S: Kody Sell and Eastan Harri
TYPE OF PRODUCT: Forex Trading MLM
PRICE: $15 every 28 days
SUMMARY: From what I can tell, Tradera does not come across as a pyramid scheme or a scam, it appears to be a legit MLM/Forex trading platform that may be worth joining if you’re interested in the stock market and want to learn how to trade.
The training from what I could find seems to work as people have found some success with it and I like that recruitment also plays second fiddle to learning how to trade.
However, there are a couple issues I have with the system such as the really poor 3 day refund policy and the owners not disclosing themselves within the about us page (which is something they should do just to be safe from the FTC) but, these are honestly minor issues in the grand scheme of things.
All in all if you’re interested in trading, Tradera doesn’t seem too bad place to learn from. On the other hand if you’re interested in learning how to make money online utilising the business model I personally recommend, you can check out my make money online guide going that goes over the subject.
FINAL RATING: 3.5/5
RECOMMENDED: Sure
WHAT IS TRADERA?
Tradera Forex is of course a Forex Trading MLM, founded in December 2019 with the purpose of educating people on the benefits of stock trading and providing its members with the opportunity to earn via the compensation plan too.
There doesn’t seem to be any information regarding the owners on the company about us page, which is a slight issue in my opinion but through a bit of digging I was able to discover 2 names associated with the company, namely Kody Sell and Eastan Harris. Kody appears to be the CEO whilst Eastan is the CFO. Both of them are also 24 years old.
Before starting up Tradera both entrepreneurs were part of a previous endeavour called New Investments, which was also forex related but, besides the name of the company there isn’t much information on it.
As for Tradera’s mission and vision according to their about page, their mission is to “impact 10,000 lives through financial and character growth by 2020” whilst there vision is to “to create a platform that promotes financial and character growth that revolutionises entrepreneurship by providing a vehicle for success and professional mentorship in the trading industry.”
I can’t take anything away from Tradera here as both of these targets are solid but, whether or not it is worth joining the company based on Kody and Eastan’s ambition , that’s a question I’ll hopefully be able provide and answer for throughout the rest of the review.
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TRADERA PRODUCTS
The services offered by Tradera include the following :
- Trading Education : This is where you’ll be taught how to trade starting from the fundamentals Kody and Eastan know to their more advanced tactics. There will be quizzes and homework within the training to test the knowledge of members throughout too.
- Trade Alerts : Each trade alert includes the stop loss, take profit, and management information. They are of course sent out by some of Tradera’s more experienced traders.
- Market Forecasts : This is sent out on a weekly basis and is a video from the owners breaking down the different trading areas for the week using their technical knowledge to analyse the markets.
- LIve Sessions : These are held on a weekly basis where affiliates will follow the host whilst he trades, with the live sessions covering multiple different cities such as New York, London and cities within Asia
- Fundamental Analysis : This is included on a weekly basis that covers the current economic data and important news that may affect the major asset classes.
- Volunteer And Corporate Events : These are live events that cover trading, the company’s vision and so on.
These services and events will set you back $99 every 28 days/4 weeks.
HOW DO YOU MAKE MONEY WITH TRADERA?
As is the case with pretty much all MLM businesses there are 2 ways to make money with them, Tradera being no exception.
1. The first method is by using the trading methods taught within the platform to learn how to make successful and profit trades.
2. You can also make money through your recruits and downline, by getting residual income, following and meeting certain criteria as well as make money through bonuses and incentives due to meeting company set goals.
HOW TO GET STARTED
If you want to join Tradera it’ll set you back $15 every 4 weeks.
From what I could find it doesn’t seem like it’s necessary to buy into the their $99 subscription if you want to join however, if you’ve signed up through someone I’m sure that you’ll be pushed to buy it anyways because 3 client subscriptions are necessary for affiliates if they want to make money from the compensation plan.
The compensation plan is harder yet to participate in because at least 55% of an affiliates recruit must buy into the $99 subscription.
COMPENSATION STRUCTURE
As for how you can earn with Tradera, there are a few different methods you can follow.
The first way to earn money is of course by learning how to become a good trader, following the trading alerts, the market forecasts and generally internalising the trading training provided within the subscription service.
The second manner in which you can earn money is through a residual income earned through a unilevel structure and what rank you are within the company.
Regarding the ranks and the qualification criteria for them, they include the following :
- Founder – sell and maintain three Client subscriptions and have at least three Client subscriptions across your downline
- Knight – maintain three personal referred Client subscriptions and have at least ten Client subscriptions across your downline (split 4:4:2)
- Noble – maintain three personal referred Client subscriptions and have at least twenty-five Client subscriptions across your downline (split 10:10:5)
- Bishop – maintain three personal referred Client subscriptions and have at least seventy-five Client subscriptions across your downline (split 30:30:15)
- Duke/Duchess – maintain three personal referred Client subscriptions and have at least two hundred and fifty Client subscriptions across your downline (split 100:100:50)
- Prince/Princess – maintain three personal referred Client subscriptions and have at least five hundred Client subscriptions across your downline (split 200:200:100)
- King/Queen – maintain three personal referred Client subscriptions and have at least one thousand Client subscriptions across your downline (split 400:400:200)
- Emperor/Empress – maintain three personal referred Client subscriptions and have at least two thousand five hundred Client subscriptions across your downline (split 1000:1000:500)
- Legend – maintain three personal referred Client subscriptions and have at least five thousand Client subscriptions across your downline (split 2000:2000:1000)
The splits above show the minimum criteria to qualify for each rank. For example if you want to qualify as a Bishop ranked affiliate you’ll need to have 30 recruits on level 1 of the unilevel structure, 30 affiliates on level 2 and 15 on level 3 totaling to a minimum of 75 recruits.
The residual commissions are paid out weekly in the following amounts :
- Founders don’t receive a commission but do have their Client subscription fee waived
- Knights receive $125 a week
- Nobles receive $250 a week
- Bishops receive $500 a week
- Dukes and Duchesses receive $1250 a week
- Princes and Princesses receive $2500 a week
- Kings and Queens receive $5000 a week
- Emperors and Empresses receive $12,500 a week
- Legends receive $25,000 a week
THE NOT SO GOOD THINGS
The Owners Don’t Actively Disclose Themselves In The About Us Page
Of course after you’ve signed up to the program and invested $99 you will see the owners within the trading platform, likely within the live sessions if not in some of their back catalogue videos however, the lack of a disclosure right off the bat is something I’ve seen so many scam products do over the years that it really does make Tradera come off as a little fishy.
The Refund Policy Is Pretty Awful
First off all I do like the fact Tradera at least offer a refund policy and although it’s not a completely full refund due to the $5 transaction fee, it is nice that they offer it.
However, the fact it’s only a 3 day refund policy really doesn’t make sense to me, especially when you consider most people probably won’t even start their first trade within that period let alone make any kind of money.
The more normal refund policy for systems that offer monthly services tend to be at least 28 days long so at the very least I would expect there to be 28 day refund refund policy or even a 14 day one but 3 days, that’s a really tiny window to test things out especially for $99 digital training platform.
THE GOOD THINGS
The Training Seems To Be Legit
There are members that have reported their success online due to the training and resources provided within the platform, so at the very least I can say that the trading training does garner some results.
Recruitment Is Secondary
As an MLM it genuinely is surprising to see the multi level marketing side of things play second fiddle so that’s a positive in my books to. Most people who get involved with Tradera will likely only do so to learn how to trade whist the MLM side of things may just be a little extra bonus if you’re good at recruiting.
The reason why recruitment play second to the trading is because the barrier to entry for affiliates is quite high requiring affiliate to not only recruit a minimum of 3 personal affiliates but also requires that at least 55% of the members within your downline are only subscribed to the trading resources and not the affiliate package
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IS TRADERA A PYRAMID SCHEME/SCAM?
From what I can tell, Tradera does not come across as a pyramid scheme or a scam, it appears to be a legit MLM/Forex trading platform that may be worth joining if you’re interested in the stock market and want to learn how to trade.
The training from what I could find seems to work as people have found some success with it and I like that recruitment also plays second fiddle to learning how to trade.
However, there are a couple issues I have with the system such as the really poor 3 day refund policy and the owners not disclosing themselves within the about us page (which is something they should do just to be safe from the FTC) but, these are honestly minor issues in the grand scheme of things.
All in all if you’re interested in trading, Tradera doesn’t seem too bad place to learn from. But, if you want to check out a free resource to help you before jumping head first into tradera or anything like it, especially US Traders, click the highlighted link.
MY PERSONAL RECOMMENDATION
I personally will always recommend against using a MLM business model to make money, not because you can’t make money through it (you totally can) but, the system has always seemed shady to myself and is kinda synonymous with the likes of a pyramid scheme or scams (MOBE and Digital altitude).
Instead I prefer working with something created through ones own means and is ultimately dependent on yourself and your work ethic alone.
This method I’m talking about is affiliate marketing.
The reasons as to why I recommend it over MLM based structures are because
– there is no need to recruit constantly
– it is a legitimate method that has been working consistently and continues to grow as more businesses want individuals to promote products
– and because it is free to start up, no unnecessarily large start up funds needed.
The service I recommend is Wealthy Affiliate. It’s free to sign up to and will get you set up and ready to start your affiliate marketing journey within minutes, as it did for me when I begun my journey.
If you have any questions that you would like to ask me regarding Tradera, feel free to do so in the comments section below and I will get back to you as soon as I can. If you have your own thoughts about Tradera and would like to talk about it, again feel free to do so in the comments below!
Thanks
Amhil
Scammers have ruined the forex trading market and this company is one of them. They have deceived many people with their fake promises on high returns. I learnt my lesson the hard way. I only pity people who still consider investing with them. Please try and make your researches, you will definitely come across better and reliable forex trading agencies that would help you yield profit and not ripping off your money. Also, if your money has been ripped-off by these scammers, you can report to a regulated crypto investigative unit who make use of software to get money back (fightingscams at aol dot com). He is a recovery expert and a very professional one at that.
Yeah all of these scammers really have made the entire trading scene somewhat like a landmine which is why I enjoy exposing these scams for what they are and ultimately helping individuals like yourself stay far away from them!
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Hi (fightingscams at aol dot com) is that a website or an email address to contact?
Because I’d like their assistance if they were able to help you.
I’m sorry, I’m not really sure how that website works so I can’t help you out here.