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Is Tradera a Scam?

November 9, 2020 By Mike Bahno Mudesi 10 Comments

Tradera is a quite new company that offers Forex Trading courses. It is also an MLM, so there are chances that you have been approached by someone asking you to join the Tradera. 

Is Tradera a Scam?

Your question of whether Tradera is a Scam or not is perfectly legit. 

I know that there are a lot of Forex Trading Scams out there, so one must be careful not to fall for such a scam. 

In the following review, you are about to find out more and by the end, you will know for sure what is the deal with Tradera. 

Disclaimer
Please note, I am not a member or an affiliate for Tradera. This review is based on research and information available online in the public domain.
Any recommendation and conclusions are only opinions and may not apply to all persons or situations.

Table of Contents

  • 1 Tradera Global Overview
  • 2 Tradera Overview
  • 3 What is Tradera 
  • 4 Founder of Tradera 
  • 5 Legal Issues with the Tradera 
  • 6 Is the Tradera a Pyramid Scheme?
  • 7 Who is Tradera for?
    • 7.1 “Never invest money that you can’t afford to lose”
  • 8 What is the Price to Join?
  • 9 Products or Services, That Tradera Offers
  • 10 Compensation Plan or Financial Rewards Plan
  • 11 How Much Can You Make with Tradera?
  • 12 Is Tradera a scam?
  • 13 Better Way to Generate the Revenue
  • 14 What I like about Tradera
  • 15 What I don’t like about Tradera
  • 16 Some Thoughts at the End
  • 17 Please Take a Look at Platform Teaching How To Start Business Online

Tradera Global Overview

Name: Tradera 
Website: www.Tradera.org
Price to Join:
$15 every 28 days 
Recommended: Not as a business model generating you the full-time income (possibly pyramid scheme)

 I recommend Affiliate Marketing. Check the Pros and Cons of both business models (Affiliate Marketing vs. MLM).

Tradera Overview

Tradera is a digital platform that offers courses and services in Forex trading. It operates as an MLM and the question is, whether this is a new pyramid scheme or not. 

Tradera has been found only in 2019 so it is too early to say. 

So far this seems like a legit company, although I don’t think this is a lucrative method of how to make consistent income. 

First of all, it has a Multi-Level Marketing structure and most people lose money in such structures.

I personally don’t recommend Tradera as a business opportunity. 

There are other (and better) methods that if mastered, eventually lead to passive income in the long run.

I have learned how to create a website, how to get free traffic, and how to monetize the traffic using this method:
Sign up for Free and I will guide you through the platform.
No Credit Card Needed – Just your email.

What is Tradera 

Tradera is an online forex platform that offers trading educational materials, sells forex signals, but most importantly allow their members to recruit new members. 

Is Tradera a Scam?

Signal service analyses the market and based on that provides information on what to buy when to buy, and when to sell.
Generally speaking, this service is usually not for free, but once you become a Tradera member, you should get this information automatically.

The company operates as an MLM. 

You as a client or member will have access to Tradera services, which we will mention later. 

Basically, the Tradera member can make money in 2 ways:

  • By applying their educational material and make money with Forex
  • To recruit people to join the Tradera, build up the team, and earn a commission. 

Founder of Tradera 

In the 2nd quarter of 2020, the company had no information about who is behind it or who the founder is. 
With their website update, they added information about the founders. 

According to the website tradera.org company has two founders: 

Eastan Harris (as a CFO)

Is Tradera a Scam?

 

and Kody Sell (as a CEO)

Is Tradera a Scam?

There is no other information about these guys, and one would expect that they show their profile on LinkedIn. 

The company is based in Dallas Texas on 1700 Pacific Avenue. 
The address seems to be legit, although a few months ago they had only a P.O.Box address.

It seems that they have moved to the new office only recently. 

Legal Issues with the Tradera 

There are no legal issues with Tradera. The company is still new. 

However, there are some complaints at the BBB site (Better Business Bureau) from the former clients. 
But at the other hand, Tradera has responded to all of these complaints and it seems that they do everything they can to resolve the issues. 

Is the Tradera a Pyramid Scheme?

Usually, it takes a few years until a company can be accused of being a pyramid scheme. This has happened with other MLM company called Young Living. 

As we know, Tradera has been here for something over a year now, it is early to say. 

But let’s be clear about one thing. 

A pyramid scheme is a model where people make money only by recruiting others and as you build your downline you earn more and more. 
There is no product to sell, so the revenue is generating from the recruiting only. 

Here are some signs of an outright pyramid scheme: 

Is Now Lifestyle a Scam

And how about FTC?
How does the FTC (Federal Trade Commission) distinguish between MLMs with legit and illegal compensation structures?

Is Tradera a Scam?

With that being said, if a member is somehow advised to recruit people (and these people should also recruit others) it is safe to say that the compensation structure is unlawful. 

In other sections, I share the Tradera compensation plan that was created by Tradera member. It is actually quite objective, but we will see that right at the beginning she emphasizes recruitment. 

Who is Tradera for?

More and more people (especially these days) try to figure out how to make a living on how to create a 2nd source of income. 

There are a lot of new companies (including Tradera) that promise you a high return on investment, but unfortunately, most of them are scammy and considered a pyramid scheme, as for example Freebay. 

Is Tradera different? 
Can you really learn new skills, go to invest, and make a profit? 

Well, there is one rule regarding investing – in fact it is the most important rule:

“Never invest money that you can’t afford to lose”

And in case you have a budget for investing, you would better off to figure out how to invest in S&P 500 or search for a Certified Business Broker. 

Don’t make a quick decision just because on their website they say how lucrative this is. 

In case you don’t feel like investing maybe you ought to invest in yourself. Learn new skills, apply them, and monetize them. 

For example, in 2017 I started to study how to create websites and how to get free traffic. 
Long story short, I now make 4 figures online.

It took me a while but with proper education, it can be achieved within a year or so. 

What is the Price to Join?

There are 2 different memberships. 

One is called Client Membership. The price is $99. 

The other one is IBO (Independent Business Owner) or affiliate and the price is $15. 

Is Tradera a Scam?

Please note that this fee has to be paid every 28 days. 

If you want to become just an affiliate, you don’t have to purchase the $99 membership. 
For affiliate, Tradera offers an incentive where you don’t have to pay for the membership if you recruit 3 new members. We will talk about the compensation plan later. 

Products or Services, That Tradera Offers

Here is the list of Tradera’s services: 

  • Trade Academy

This is about how to analyze and trade the financial markets. It concerns trading basics and also advanced institutional trading. 

The majority of this academy is presented to you as video content. 

  • Trade Alerts

These are shared trade ideas from a variety of traders. 
Apparently, at this stage, Tradera clients can earn while they still learn. 

  • Trade Sessions

Clients can have direct access to experienced traders. 
These are live webinars about current market conditions, trading concepts, and opportunities. 

  • Trade Strategies

This includes a series of thorough strategies that are broken down into the following components:

– Strategy Conceptual Basis
– Strategy Entry Criteria
– Strategy Exit Criteria
– Strategy Trade management
– Strategy Overview

It is said that the client will learn how to apply the concept from Trade Academy into a systematic strategy applicable in financial markets.

And it seems that there will be more. 

Is Tradera a Scam?

Hopefully, they will reveal the new services soon. (I will keep an eye on it). 

Compensation Plan or Financial Rewards Plan

Compensation plans are difficult to read and even more difficult to understand. 

All MLM have this in common.

However Tradera offers quite an OK compensation plan, it is only 10 pages. You can read the full document here. 

Here is a short version of the compensation plan that includes affiliate rankings. 
The earning potential depends on your ranking and here are the ranks and requirements to achieve each rank:

  • Founder  – needs to refer 3 clients 
  • Knight – has to maintain 3 clients and have 10 members in the downline. Potential earning $125 a week
  • Noble – has to maintain 3 clients and additionally 25 in the downline (10 + 10 +5). Potential earning $250 a week
  • Bishop – has to maintain 3 clients and have additionally 75 clients in his downline. Potential earning $500 a week
  • Duke/Duchess – has to maintain 3 clients and have added 200 clients in his or her downline. Potential earning $1,250 a week. 
  • Prince/Princess – has to maintain 3 clients and have additionally 500 members in the downline. Potential earning $2,500 a week.
  • King/Queen – has to maintain 3 clients and have additionally 1,000 members in the downline. Potential earning $5,000 a week
  • Emperor/Empress – has to maintain 3 clients and have additionally 2,000 clients in the downline. Potential earnings $12,500 a week

On top of that there are the following high ranks: 

  • Legend 
  • Legend 200 
  • Legend 500

The compensation plan is explained in the video below:

Have you noticed what she said at the beginning?

“When you come aboard in Tradera, the first thing you want to do is personally refer 3 customers to Tradera“. 

So it is about recruitment and we know that where an emphasis is on recruitment it is considered a pyramid scheme. 

This to me is a red flag and therefore I don’t recommend joining Tradera. 

How Much Can You Make with Tradera?

All MLM companies are required to reveal their Income disclosure. 

In the Tradera case, it is not available, simply because the company was created only last year. 

Generally speaking the earning potential within any MLM company is extremely low. Less than 1% of IBOs make more than the minimum wage and that is, unfortunately, the case for all MLM companies. 

This business model in its nature is made like this. Only people at the top make money, while the rest is not making at all, or they even lose money. 

Is doTERRA a Scam

Even with Tradera, you are required to pay $15 every 28 days. It is not a lot, but imagine you can’t recruit 3 persons within 4 months. You lose money every single month. 

In the paragraph above we see what is the earning potential as per specific rank. 

Let’s take a look at Noble. 

Is Tradera a Scam?

You can make $1,000 a month which is less than the minimum wage (assuming it is $7.25 per hour that equals to $1,152 per month).

The requirements for being at Noble? 

  • You have to maintain 3 clients
  • These 3 clients of yours, need to sell it to another 10 + 10 + 5 clients

Now, do you have an idea of how difficult is this and how many rejections you will encounter? 
In case you have not prior experience with MLM, I suggest this is not for you. 

A few people handle rejection well and for most of us, this business model can be very frustrating. 

Is Tradera a scam?

No, it is not a scam, at least it does not seem like a scam at this point. 

They do have education material and offer services. 

The company does not offer any “passive income” opportunity either. (If you want to know how to make passive income from home, read this article) 

So as of this writing, Tradera is not a scam.

Better Way to Generate the Revenue

We have covered what is the earning potential within the MLM business model. 

Success is rare and therefore, I feel like sharing a different opportunity here. 

It does not require any recruiting, nor selling. 

What one needs is a laptop (or desktop) internet connection and a bit of special knowledge. 
I personally recommend learning something about SEO: 

  • how to create a website
  • how to rank well in Google (so the site gets a lot of visits)
  • how to monetize the traffic

It may sound simple, but it requires time and effort.

I know people want to learn new skills, and these days there are a lot of courses on Udemy or on Youtube (also for free).
When I used to search for proper information about how to make money online, I was kind of lost, since a lot of information was only partial. 

It was difficult to find a course that teaches exactly what to do step-by-step from scratch. 

Here, let me share with you one particular platform that I have found and where I have learned how to make consistent income online. 

What I like about Tradera

  • The price for becoming an IBO is very reasonable
  • The company offers services and courses where you can learn how to trade

What I don’t like about Tradera

  • No Support 
  • Only 3 Day money-back guarantee (three days)
  • This is still a pretty new company to determine whether it is a pyramid scheme or not. 

Some Thoughts at the End

We have covered what the Tradera is all about.
If you are in trading and want to learn – check their products. Test them and if you like, you can go ahead and promote it. 

The downside is that there are only 3 days of the money-back guarantee, so you need to make a quick decision. 

I personally don’t like the MLM business models and here is why (Affiliate Marketing vs MLM). 

But I did my best to remain unbiased, however, let me put a shameless plug here. 
I personally prefer affiliate marketing simply because of:

  • I don’t need to recruit anyone
  • I don’t sell any product, but only recommending good ones (so if people buy I get commission)

It took me a bit till I learned how to drive free traffic to my site, but it wasn’t so difficult. I will leave a link where it is possible to test out this platform, for free. 

If you have any questions regarding the Tradera, or you have personal experience, please share it, down below in the comment section. 

I am sure that will help others readers as well. 

Thank you for your support
Mike 

Please Take a Look at Platform Teaching How To Start Business Online

I have been a member of Wealthy Affiliate since late 2017 without a prior marketing experience.
Beginning of 2018 I have learned how to build a website that drives traffic and makes sales.

Since the summer of 2019, I am a full-time internet marketer and I work from anywhere I want, whenever I want.
Training within Wealthy Affiliate teaches how to generate a consistent income in the long run. 

 

Filed Under: Fraudulent, MLM Company Review, not recommended

Reader Interactions

Comments

  1. LineCowley says

    January 15, 2021 at 10:45 am

    I have come across Tradera before, but only vaguely. 
    So this was a very informative review. I worked for a multi-level marketing company in the past and I know how difficult it is to earn money with them without continuously having to recruit new team members and build your downline. Forex trading is such a specialist area of trading and it can be very volatile. As you say the company is still very young, but I will not be putting any money or time into Tradera.

    Reply
    • Mike Bahno Mudesi says

      January 15, 2021 at 5:19 pm

      Hey there

      Thanks a lot for your comment. 

      Absolutely – Forex trading is unpredictable, especially for newbies. 
      There are other (easier) ways how to generate consistent income. 

      Mike 

      Reply
  2. Riaz Shah says

    November 26, 2020 at 4:13 pm

    Wow just look at those compensation plan titles – King, Bishop, Duke, really attractive! They really know how to get people’s attention though that 3-day money-back guarantee is very short and unattractive at most. I got a phone call from one of their members and I was curious enough to look up and found your review, lucky I did my research! Definitely staying away from Tradera.

    Reply
    • Mike Bahno Mudesi says

      November 27, 2020 at 10:55 am

      Thank you for sharing your experience with us. 

      Yes, it is safer to stay away from the company. 
      There are much better opportunities on how to make money. 

      Reply
    • Sajawal Rao says

      December 29, 2020 at 9:51 pm

      Come on Riaz🤣🤣.I know you are lying.

      Nice review Miki!!

      Reply
      • Mike Bahno Mudesi says

        December 29, 2020 at 9:55 pm

        Thanks
        Mike

        Reply
  3. roprimixz says

    November 19, 2020 at 4:52 am

    Hello Mike! 

    Thanks alot for sharing this very beautiful, well detailed and informative piece of information with us. I am very happy I came across this because it contains all the all the valuable information one needs to hold on to. You constructed this article well and I must say I really enjoyed your honest review on Tradera. One honestly must be careful and  have to make enough research when dealing with sites like Tradera. Thanks alot for this once again.

    Reply
    • Mike Bahno Mudesi says

      November 20, 2020 at 10:07 am

      You are absolutely right. 

      It is necessary to do research about new sites/products. 

      Thanks a lot for your comment
      Mike 

      Reply
  4. gifstandholidays says

    November 12, 2020 at 7:02 am

    Than you for your site. I think it is our duty to expose These Pyramid schemes.  You are doing a great service of it. I have been a victim and it is not good. Sometime even when there are signals we still fall for the act. Someone out there reads your site and becomes informed. I appreciate you apologise when your pop up comes on. You are the first I have seen do that I think it works very well.

    Reply
    • Mike Bahno Mudesi says

      November 12, 2020 at 1:38 pm

      Hello

      Thanks a lot for your comment (and for understanding the pop up) 

      Sorry to hear that you have been scammed – hopefully you did not lose a lot. 
      At the end, it is important to consider it as a learning lesson. 

      One must be careful and it is always recommended to do the research, especially when you are about to deal with sites like Tradera. 

      Mike 

      Reply

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About Mike & His Website


Hi there, 

I am Mike, and I am a founder of  SetAffiliateBusiness.com.

I have been learning internet marketing since 2014. In the first couple of years I encountered numerous scams, misleading products and got sick and tired of it.
With Set Affiliate Business I want to help other people to learn how they can avoid the scams, and how to get on the path of creating a sustainable business online.

You can read more about me here.
If you want to get in touch with me, please leave a comment or write me an email.

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