Welcome to my Tradera review!
Tradera is a Forex company established by two 24-year old. Sounds impressive right?—two young people are already making lots of money and securing their financial futures.
But is the business they’ve created a reliable source of income for those who want to invest?
Is Tradera legit or another massive MLM scam?Let’s find out…
- Name: Tradera
- Website: tradera.org
- Founder: Kody Sell (CEO) and Eastan Harris (CFO)
- Price: Initial membership is $15 to a premium of $114.
- Recommended?: No.
What is Tradera?
Tradera is an MLM (Multi-Level Marketing) company that specializes in Forex services such as trade alerts, Forex education, signals, forecast, live trading sessions, and fundamental analysis.
The company was only recently launched last December 2019 by two 24-year-olds—Kody Sell (CEO) and Eastan Harris (CFO).
According to its official website, the company currently resides in Dallas, Texas.
Also, the two were mentioned to have been involved in another Forex-related company in 2015. But there’s not much detail about the business.
Some of the products they offer include:
- Trade Alerts – the alerts the subscribers receive include stop loss, management information, take profit, etc.
- Market Forecast – as the term implies, it provides subscribers weekly forecasts in the trading market.
- Fundamental analysis – it’s weekly news on major classes of assets.
- Company Events – Such events are focused on leadership, marketing, trading, etc.
We won’t be explaining their products in detail since our focus here is their compensation plan—is Tradera legit or another massive MLM scam?
You may also want to read other MLM reviews like ACN, Stella and Dots, Zilis, Reveal Products, IDLife, and Usana, to name a few.
The Tradera business opportunity
Unlike most MLMs, the compensation plan of Tradera is rather easy to follow. Earnings by members are based on recruitment and subscriptions sold to retail customers.
Tradera offers several ways to earn income. It is as follows—
- Referral Commissions
- Residual Commissions
- Forex Commissions
Now, let’s take a look at each of them…
Referral income is one of the basic features of MLMs.
In any MLMs that you may encounter, you’ll notice different forms of referral income, but they all function the same—commissions are based on the recruitment.
In this part of the compensation plan, you have to build your lower network if you want to earn any significant income.
Also, take note that a member needs to maintain three client subscriptions for them to become eligible for commissions and maintain their active status.
Commissions are based on rankings:
- Founder – the member, must maintain three active networks. This requirement applies to every rank.
- Knight – the member, must maintain at least ten active premium subscriptions. It is spread throughout your lower network as follows (4:4:2)—four active premium subscriptions (first and second leg) and two active premium subscriptions (third leg).
- Noble – they have to sustain 25 active premium client subscriptions, which are spread in a 10:10:5 format—ten active subscriptions (first and second leg) and five active subscriptions in the third leg.
- Bishop – 75 active premium subscriptions must be sold and maintain in order to qualify for this rank. The 75 premium subscription is split into 30:30:15. Or 30 active subscriptions in the first and second leg and 15 in the third leg.
- Duke and Duchess – the member has to maintain 250 active subscriptions, which is split into 100:100:50. It is 100 active subscriptions to the first and second leg and 50 active subscriptions in the third leg.
- Prince and Princess – the member, has to acquire and maintain 500 active client subscriptions, which is split into 200:200:100. It is 200 active subscriptions in the first and second legs and 100 active subscriptions in the third leg.
- King and Queen – they have to sell and maintain 1,000 active client subscriptions, which are split into 400:400:200. It is 400 active subscriptions in the first and second leg and 200 active subscriptions in the third leg.
- Emperor and Empress – the member must maintain 2,500 active subscriptions, which are split into 1,000:1,000:500. It is 1,000 active subscriptions for the first and second leg and 500 active subscriptions in the third leg.
- Legendary – lastly, the member has to acquire and maintain 5,000 active subscriptions, which are split into 2,000:2,000:1,000. It is 2,000 active subscriptions for the first and second leg and 1,000 active subscriptions for the second leg.
Forex commissionsIt is where you apply what you’ve learned and started earning from Forex trading.
They state that the member earns income as they reach a specific rank.
Of course, the income that the member shall earn increases as they progress to higher ranks.
The summary is as follows:
- Founder – monthly subscription fees are waived
- Knight - $125 commission per week
- Nobles – $250 commission per week
- Bishops - $500 commission per week
- Dukes and Duchess - $1,250 commission per week
- Princess and Princesses - $2,500 commission per week
- Kings and Queens - $5,000 commission per week
- Emperors and Empresses - $12,500 commission per week
- Legendary - $25,000 commission per week
Does this excite you?
Well, hold your horses.
Getting involved in currency trading is not an easy investment—it’s risky, and chances of losing money are more likely than earning.
It takes years before you can become a successful trader. Even professional Forex traders find it hard to make money in this genre.
In addition to how risky Forex is, you also have to recruit to access their high-paying features.
If you want a less risky investment, then you have to check out the description below—
Here Is My Best Work At Home Recommendation For Newbies!
How to sign up with Tradera?
To register, you have to visit their official site. Click here to redirect to their signup page.
You just have to provide basic information like name, email address, home address, and mobile number.
And then, create a user name and click the signup button.
Take note that as you click sign up, it means that you agree with the company’s user agreement.
Afterward, you also have to verify your PayPal account.
Also, the cost of membership is as follows:
- Affiliate Membership – the membership fee is $15 per 28 days.
- Customer Membership – you to pay $99 per 28 days.
- Premium Membership – you have to settle $114 per 28 days, which includes both client and affiliate.
The affiliate has to settle the equivalent membership fee for the application process to push through.
Can you make a reliable income with Tradera?
You have to take note that Tradera does not help you trade on your behalf.
Tradera teaches you how to do currency trading and provides you several materials that will be supposed to help you get better currency forecasts and signals.
In simple terms, what they provide is education and advice on Forex.
This means that you’re still on your own, as making money in Forex is a concern.
Take note that making money with trading currency is difficult. Even some seasoned traders are still struggling.
Also, it is still an MLM. It means that you have to recruit continually to earn any significant income.
According to studies, almost 98% of people who join MLMs lose money than earning anything at all. This was well documented in Dr. Jon Taylor’s book, “Multi-Level Marketing Unmasked.”
If you’re looking for a less risky investment, then you have to check out my best work-at-home recommendation.
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Is Tradera legit or another massive MLM scam?
Tradera is neither a scam nor a pyramid scheme.
They are a legitimate Multi-Level Marketing that specializes in digital subscriptions.
However, some may argue that MLM is essentially a pyramid. Although I agree to some degree, they are only considered legal because the member still receives some value in return for their so-called investment.
But in any case, I wouldn’t recommend Tradera or any MLMs for that matter. Investment in MLMs is a high risk, and chances of succeeding are rare.
What I Don't Like About Tradera
Success is still recruitment-based
As mentioned, what they offer are Forex signals and forecasts. Thus, your success is still based on how well you and the lower network sell and recruit.
Success is rare
As you observed, you need to make a lot of subscriptions to access their high-paying features.
Such instance is what’s driving most MLM members to quit, and eventually gain nothing as a result.
Cheap initial membership, but…
Basic affiliate membership is only $15 per 28 days, but you may be forced to avail of the more expensive membership package to gain traction.
Definitely not for Forex newbies
Currency trading is not for inexperienced individuals—it’s a high risk, and you must have extensive experience to be successful in this field.
Not accredited by the BBB
Although the Better Business Bureau isn’t the conclusive measure of legitimacy, it is the go-to rating agency for most people.Not having a BBB rating may affect potential clients’ decision-making.
What I Like About Tradera
As of now, I don’t find any positives about the company.
I hope my review has provided you enough information to answer the all-important question—is Tradera legit or another massive MLM scam?
But as I said earlier, I do not recommend Tradera or any MLMs.
MLMs are risky, more so that Tradera is also engaged in currency trading.
Doing Forex is a hard way to earn money, especially for beginners.
There are better alternatives out there that are beginner-friendly, yield high income, and less risky.
Continue to the next section and learn how to make money online…
A better opportunity to make money online!
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Thank you for your time!
Until next time!Peace!