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Is Tradera A Scam? Forex Trading Company With No Trading?
Welcome to My Tradera Review!
Perhaps you’ve seen someone promoting this Forex multi-level marketing (MLM) on social media platforms but still, you’re filled with queries? Well, you’ve come to the right place if you are looking for a current Tradera Review!
Tradera Review Summary
Founders: Kody Sell and Eastan Harris
Product Type: Multi-Level Marketing
Price: $99 For The Client Membership + $15 For IBO Membership Or Monthly Subscription Fee
Quick Summary: Tradera is a multi-level marketing (MLM) company in the forex niche but they don’t necessarily do trading here. What they offer and market instead are products, such as forex education, trade alerts, market forecasts, live trading sessions, fundamental analysis, and corporate events.
And all of this is just part of the main agenda of the business which is of course the multi-level marketing referral program. There goes the recruitment hype again! In fact, as an affiliate, you’ll only be eligible for commissions if you earn and maintain 3 client subscriptions!
And it’s also pretty costly, imagine the cost of subscriptions that are paid monthly!
Overall Rating: 2/10
And we’ll try to answer those questions you’ll have in mind as we review the details of this forex program including the products, the company, compensation plan, and other pertinent information.
If you are in a dilemma with what decision to take- to join or not join Tradera, better stick around down to the end of this review!
What Is Tradera About?
As said on their website, Tradera is a financial firm designed to empower investors by offering world-renowned trading education services. But technically, it’s not a financial firm and they don’t really do any trading on behalf of its client subscribers.
Rather, Tradera is a company specializing in trading education with a multi-level marketing business model. We may place them in the forex niche because they do market forex education but as I said they don’t do real forex trading because when you’ll hear an MLM forex opportunity, you’ll instantly look for a passive investment opportunity.
However, in Tradera, there is none. It’s purely for educational purposes and the chance to earn money through recruitment being an MLM program.
Tradera’s website domain was registered as “tradera.org’’ and was launched as an MLM company in December 2019 by Kody Sell and Eastan Harris. It is based in Dallas, Texas USA. As you can see, the website domain comes with a “.org” because the one that comes with a “.com” is the Tradera from Sweden which is a major eCommerce portal.
Well, the Tradera MLM opportunity has nothing to do with the Tradera in Sweden.
The founders, Kody Sell (CEO) and Eastan Harris (CFO), both aged 24 years old, are forex traders. Pretty young to own a company right? Apparently, these two have run a company called New Investments since 2015. It was also forex related but now, we can’t find much or any sign of this company online.
As to what was mentioned and to what is placed on the website, the company address is in Dallas, Texas which is where Eastan Harris resides.
Tradera Product Line
Tradera is a forex training service and educational platform which gives subscribers access to the following:
- Trade Academy - Designed to teach clients how to analyze and trade the financial markets and it’s also designed to be completely comprehensive covering multiple asset classes and taking traders A - Z from trading basics through advanced institutional trading.
- Trade Alerts - Shared trade ideas from consistently profitable and experienced traders.
- Live Trading Sessions - Accessible directly from the back office designed to supplement clients' learning experience. These sessions allow clients to have live, direct access to an experienced trading mentor which is an extremely valuable and important resource. Typically, these group-based webinar sessions will revolve around discussing live market conditions (including analyzing potential trading opportunities) and reviewing or further explaining trading concepts from our Trade Academy.
- Fundamental Analysis - This is provided to clients directly via the client back office in the form of articles detailing important economic events in real-time and the potential impact the events may have on related assets. It also covers a vast array of assets and may pertain to foreign exchange currencies, cryptocurrencies, commodities, indices or stocks.
- Market Forecasts - Detail live analysis and biases, and anticipated trading opportunities across various assets of interest. These forecasts typically include both written and graphical associated explanations and are provided directly by the co-founders of the company.
How To Make Money With Tradera?
The Client Membership comes with access to all of Tradera's services including the following:
- Trade Academy
- Trade Alerts
- Live Trading Sessions
- Fundamental Analysis
- Market Forecasts
- Member Support
However, Clients are not able to earn bonuses and commissions from their referral compensation program unless they are also registered as an IBO- Independent Business Owner.
Joining as an IBO allows members to participate in and be eligible for bonuses and commissions via Tradera's referral compensation program. IBO's have the right to promote Tradera's services and access to a full back office for business management.
The IBO Membership does not come with access to Tradera's services. So you’ll have to pay for both the Client and IBO membership subscription fees.
Not only you’ll have to pay the IBO subscription fee on top of the Client membership, but you’ll also have to personally refer at least 3 people to earn from Tradera’s compensation plan. Referrals will be placed in one of your 3 legs under you.
And for an affiliate to officially qualify for any rank in Tradera’s referral compensation program, they require that the IBO has a minimum of 55% of their downline members enrolled as pure retail customers. If a member has an IBO package, that member will not count as a retail customer.
Just like most MLMs, the amount of money you’ll earn in Tradera will depend on your rank. To qualify for the ranks you need a certain amount of people in each of your 3 legs.
Here are the following T'radera Ranks:
- Founder – Maintain 3 active premium members on 3 legs. Gets you a free membership.
- Knight – Maintain 4 active premium members on your first leg, 4 active premium members on your 2nd leg, and 2 active premium members on your 3rd leg. Pays $125 per week.
- Noble – Maintain 10 active premium members on your first leg, 10 active premium members on your 2nd leg, and 5 active premium members on your 3rd leg. Pays $250 per week.
- Bishop – Maintain 30 active premium members on your first leg, 30 active premium members on your 2nd leg, and 15 active premium members on your 3rd leg. Pays $500 per week.
- Duke/Duchess – Maintain 100 active premium members on your first leg, 100 active premium members on your 2nd leg, and 50 active premium members on your 3rd leg. Pays $1,250 per week.
- Prince/Princess – Maintain 200 active premium members on your first leg, 200 active premium members on your 2nd leg, and 100 active premium members on your 3rd leg. Pays $2,500 per week.
- King/Queen – Maintain 400 active premium members on your first leg, 400 active premium members on your 2nd leg, and 200 active premium members on your 3rd leg. Pays $5,000 per week
- Emperor/Empress – Maintain 1,000 active premium members on your first leg, 1,000 active premium members on your 2nd leg, and 500 active premium members on your 3rd leg. Pays $12,500 per week.
- Legend – Maintain 2,000 active premium members on your first leg, 2,000 active premium members on your 2nd leg, and 1,000 active premium members on your 3rd leg. Pays $25,000 per week.
See more about their compensation plan in the video below:
Is Tradera A Scam?
We can’t directly say that Tradera is a scam; however, it’s a bit misleading.
Though it’s in the forex niche, it’s more on education about forex, minus the real trading. Well, it’s still relatively new in the scene and needs to prove more of it. However, there are still a couple of reasons why I don’t recommend this program.
Joining as a member of Tradera who wants to as well be eligible with commissions, one should not only pay the client membership but also the subscription pay for the IBO (Independent Business Owner membership.
The Client Membership costs $99 while IBO Membership costs $15. So all in all, you need to pay $114 for the monthly subscription fee.
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Well, there’s not much to like about Tradera but offering an educational platform for those who would want to know forex is commendable. And one thing I like about them is that they are transparent, placing even the names and photos of the founders/ owners on their website including the address, contact details, and others.
Old Fashioned Landing Page
Speaking of their website, they did not put much effort into it. Probably, it may have been termed as a financial firm because of its vintage feels. But it’s really not appealing! It’s so old fashioned and outdated considering its owners are all pretty young.
As we know, Forex is one of the most complicated ways of earning money online. And thank you for this company that offers an educational platform for those who would like to know and be trained about Forex. However, forex is not meant for anyone. So it’ll be a challenge marketing this kind of niche because you’ll have to go for people who are into Forex.
Imagine paying $114 a month as an affiliate eligible for commissions because that would be about $1368 a year. And that’s quite a big amount of money!
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Who Is It For?
It's a business intended for those who are MLM-skilled individuals. Since what you are really marketing is the opportunity itself. It is also for those who are into forex and would want to know more and be trained about it.
Being an affiliate/ Independent Business Owner (IBO) in Tradera gives you access to their back office. Being also a client before being an IBO, you’ll have access to forex trading education and other tools you’ll need in the business. They also have events designed to meet and pursue the company’s goals, vision, and mission. These events are focused on trading, leadership, marketing, networking, volunteering, etc. which is in short an additional training boost for IBOs.
Tradera as well offers 24/7 around the clock support to all their valued members.
Tradera is not a scam. It somehow offers a fairly decent opportunity. However, being an MLM itself, you will still opt to recruit. It’s still relatively new in the business plus the owners are still pretty young, Tradera needs to prove more of itself in the industry.
And also it’s pretty expensive and it’s not meant for all because not all are into forex, making it a limited market and a challenging one. So definitely not recommending you this!
Well, I’m not debunking MLM platforms but here, I’m recommending you a better alternative -- an opportunity that can help you earn and learn at the same time.
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- One-on-one coaching
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I hope my Tradera review has enlightened you and if you have any questions or comments, please feel free to share it down below. Thank you!