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Is My Passive Trades A Scam? Another Pyramid Scheme To Get Rid Of?
Welcome to this My Passive Trades Review!
With all the business opportunities sprouting online, so are the investment schemes that can be found almost anywhere. Well, there may be a few legit trading platforms but most of them are associated with fraudulent activities and what’s dumbfounding is that some would even buy into the idea of these businesses and would even patronize such.
My Passive Trades Review Summary
Name: My Passive Trades
Founders: Darren Bradbury
Product Type: Multi-Level Marketing
Price: $5 Trading Packs + $99.99-$450 For The Trading School Packs
Quick Summary: My Passive Trades is an income opportunity with a cryptocurrency investment scheme and it comes with a business platform likened to multi-level marketing (MLM). It’s about trading or investing plus the recruitment part.
With the recruitment hype and other red flags of being a pyramid scheme, definitely not recommending you this one. And it’s also unregistered with the Financial Conduct Authority (FCA) which is the UK's counterpart for the Securities and Exchange Commission (SEC). In short, they are not legally allowed to do trades.
Overall Rating: 1/10
Because oftentimes they would be deceived by the enticing claims such as the promise of lucrative pay, fancy sports cars, and more -- which are typical promises of compensation of network marketing platforms. And that’s why trading, investments, and MLM platforms have gotten a bad reputation.
Well, you can’t blame people because though there are legit opportunities, most of the time, people end up in the wrong opportunity, earning nothing and even losing their money along the way. So it’s essential to carefully investigate one before pursuing such a business.
This time we’ll examine one of these schemes, a crypto investment multi-level marketing company (MLM) called My Passive Trades.
Would this be the right opportunity to pursue? Or is it the other way around?
What Is My Passive Trades About?
My Passive Trades is a trading platform that comes with a multi-level marketing compensation plan. It also promotes cryptocurrencies. so basically, it’s a trading/investment opportunity that requires recruitment.
It claims that it has multiple ways for its investors to make money and that they also market to internet marketers who want to drive traffic. It allows you to invest in cryptocurrency and purchase ad credits from them at the same time. It advertises your website on their site through their PPC ads, text ads, login ads, and more.
My Passive Trades is based in the United Kingdom and the owner is Darren Bradbury or in some sites, referred to as Darren Riviera.
The owner has been involved with cryptocurrency schemes, such as Powerhouse Mining, Powerhouse Feeder, and Powerhouse RevShare, and also with a couple of questionable schemes such as My Ad Story, My 24 Hour Income, Leased Ad Space, Stiforp, Zarfund, and Giftobit.
He also launched Chatabox in 2018, which is a social media platform that allows you to make money online. On Jan 25, 2018, he started Polaris Universal LTD, which is a company based in Yeovil, UK.
And FYI, Polaris Universal LTD is the trading name of My Passive Trades and has other incorporators namely Ahmed Nabil El Amrani, Eldon Carvalho, and Lidija Ikasovic. Carvalho has resigned since, and except for Bradbury, all of the remaining incorporators live overseas.
So as you can see, Bradbury is indeed very adept at these kinds of schemes. He’s into this kind of game.
My Passive Trades Product Line
My Passive Trades offers what they call “Passive Trades Pack” where you can purchase a single trade pack at only $5. So, these Platinum Ad packs are basically advertising packages that are composed of text, video, banners, and other advertising media.
However, members are required to purchase a couple of these trade packs to start earning. You can buy anywhere from 1 to 200,00 of these Platinum Ad packs.
So basically, the key to earning more is to invest more money.
Another product they offer is the Trading School, which has two mentoring levels:
- Mentoring Level 1- $99.99
- Private Mentoring VIP- $450
But if you’ll look closely, they don’t really have real products but it's more on membership platforms/ investment.
How To Make Money With My Passive Trades?
As an investment scheme, what you look forward to in this opportunity is the ROI. So your ROI at My Passive Trades is leveled at 1.25 per day. However, trading packs expire after 125 days. So, basically you’re getting a total of 125% return for each pack you invest.
Being an MLM, you’ll earn additional income when you recruit people, a whole lot of people.
You will earn 8% for people you have recruited on the first level and 3% for the second level. Their matrix compensation plan follows a 3x1 matrix cycle with 2 levels.
Once the first matrix tier is filled, you then cycle a commission and move on to the next matrix cycler tier to do the same. FYI, when all of the positions on the matrix are filled with paid members, that’s when you’ll get paid.
Here’s how it works:
- As discussed, the first matrix costs $99 (Mentor), so when your recruits get this, you’ll earn $33 per recruited member and $33 per position filled once completed. This then starts a new $99.99 tier once this level is completed.
- While the second-tier costs $450 (VIP) and in this, you’ll earn $150 per recruit and $150 per position filled once completed. Once completed, another $450 tier opens up.
You can learn more about My Passive Trades by watching the video below:
Is My Passive Trades A Scam?
Well, we can’t totally say that it’s one but most information points out that My Passive Trades is a scam.
Definitely something fraudulent going on. If you’ll look closely, there’s really no actual product. The recruitment hype, along with other red flags even point to it as a pyramid scheme.
Even the owner’s credibility is questionable. It may appear as a legitimate company and is probably registered with the UK government but it’s unregistered with the Financial Conduct Authority (FCA), so it means that they cannot carry out trading activities.
If they do so, they’re doing it illegally. So definitely dissuading you not to buy into this program!
As discussed, My Passive Trades’ business model offers an MLM structured compensation plan with a combination of a promised ROI for your investment. So being an MLM itself, it offers an affiliate program.
Signing up for My Passive Trades is free. Yes, no membership fees but you still need to bring out money if you want to start earning money and be eligible for their compensation plan.
As mentioned, you’ll be compelled to purchase a trade pack, where the minimum amount for investing is at $5 for their adpacks. It may seem lower compared to other investment programs but you’ll still opt to buy more products as you are required and encouraged.
The more the trading packs, the more the commission.
You could also join their trading school matrix cycler program and it will cost you about 549.99 (Mentor and VIP).
Upon joining, you’ll have a virtual wallet, “My Wallet” where you can deposit money and it’s there where you can purchase new ad packs with your earnings or just withdraw to your own BTC wallet.
So here goes the cryptocurrency incorporation, as Bitcoin is now involved.
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Honestly, there’s nothing really to like about My Passive Trades. Something is really fraudulent that we can consider it really a scam because it appears like a Pyramid scheme hiding in the semblance of an investment program. Also, the fact that they might be doing illegal trades being not FCA registered is another red flag.
Unauthorized To Trade
My Passive Trades may be legitimate in terms of being registered within the UK government but when it comes to their income opportunity, it is questionable. Being registered in the government doesn’t mean that they can carry out trading activities.
Because to do so, one should be authorized by the Financial Conduct Authority (FCA). Having said that, Polaris Universal LTD which is My Passive Trade's trading has not been registered in FCA goes to show that they are doing illegal trades.
Hazy? Because the details about investments are unspecified! There are no pertinent details as to how these investments are carried out in this platform. There aren’t any trading bots or algorithms advertised, too.
Without these, how exactly are these trades carried out? Most likely there is no one who knows, apart from the owner and the incorporators. Definitely suspicious!
With these, it is questionable how profits for the ROI are generated. They’re most probably hiding with the truth that the sole pool of money is from the people recruited. Having a sense of being a pyramid scheme!
Well, it’s nice that they are really transparent with regards to the owner. At least someone would be accountable if something wrong happens. Though the owner may have been involved with a couple of crypto MLM investment businesses, such involvements are associated with questionable schemes including multiple investment scams.
Well, it’s a surprise that My Passive Trades is still operating but we don’t know, it would be a matter of time that governing bodies will catch them or shut them down. But for now, we can’t deny the fact that there might be something fishy going on here.
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Who Is It For?
It’s probably intended for those who are consummate and thrilled when it comes to investment schemes plus cryptocurrency. It is not for all because it would definitely need money for investment.
It may be as low as $5 for an investment, however, you’ll still be compelled and even required to invest more to earn more. Built on an MLM platform, it focuses more on recruitment. So it would favor those who are good at recruitment and in the MLM industry.
As an affiliate of My Passive Trades, you’ll have access to their back office along with materials and resources you’ll need in your business. You’ll have a virtual wallet to maneuver processes around the business such as deposits, purchase of new ad packs and withdrawals to your own BTC wallet, and more.
In closing, though we can’t totally conclude that My Passive Trades is a scam with what most information points out, you should NOT trust this program.
With the red flags of being a Pyramid Scheme plus with no authorization to trade, there is really something fraudulent going on with its operations.
Being an MLM in nature, it would require you to recruit since they don’t have any physical products or services. The owner’s credibility is also questionable as he has been involved with a couple of investment scams.
So, it’s definitely not a great idea to join this opportunity. With such red flags, there is a probable chance that the company will shut down shortly!
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Thank you for reading my Passive Trades review! If you have comments, queries, and testimonials, feel free to place it below.