BixoTrade operates within the cryptocurrency MLM area of interest.
On its web site BixoTrade claims its headed up by CEO Benjamin Gimson.
This wasn’t all the time the case although. On its official YouTube channel, a video uploaded on January twenty third reveals BixoTrade’s authentic CEO was James Bernard.
As above, Bernard is performed by an actor with an American accent. Bernard’s promo video is shot within the regular rental setting.
That mentioned, BixoTrade did go above the same old effort and decked out an entire storefront.
Sadly although whoever put up the BixoTrade decorations wasn’t superb at it.
That is from a second advertising video additionally uploaded on January twenty third.
This video reveals that, apparently inside 24 hours, BixoTrade had employed a brand new CEO, Benjamin Gimson.
A full sit by way of of the second linked video above ought to make it abundantly clear these are actors in staged movies.
As to the place the video was shot, at round [1:11] in this video a Lynx branded bus drives previous.
Lynx is a US public transport firm working out Florida. The corporate run bus routes throughout Orange, Seminole and Osceola counties.
On its web site BixoTrade offers three company addresses, one every within the UK, the US (Arizona) and Hong Kong.
In its Phrases and Situations BixoTrade states it’s
formally registered in Bixo FinTech Ltd. Firm quantity 11994515 primarily based in the UK.
Contemplating the corporate represents its complete company workers are working out of an workplace in Florida, this seems to be baloney.
Moreover UK incorporation is filth low cost and successfully unregulated. It’s a favored jurisdiction for scammers seeking to incorporate dodgy corporations.
For the aim of performing MLM due-diligence, UK incorporation is meaningless.
Alexa at present ranks prime sources of site visitors to BixoTrade’s web site because the US (62%), Japan (12%) and Canada (2.5%).
As all the time, if an MLM firm just isn’t overtly upfront about who’s working or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.
BixoTrade’s Merchandise
BixoTrade has no retailable services or products, with associates solely capable of market BixoTrade affiliate membership itself.
BixoTrade’s Compensation Plan
BixoTrade associates make investments funds on the promise of marketed returns:
- Bundle 1 – make investments $100 to $4999 and obtain a 400% ROI over 200 days
- Bundle 2 – make investments $5000 to $24,999 and obtain a 450% ROI over 200 days
- Bundle 3 – make investments $25,000 to $99,999 and obtain a 500% ROI over 200 days
Referral Commissions
BixoTrade pays referral commissions of as much as 15% on funds invested by personally recruited associates.
- Energetic – join as a BixoTrade affiliate and obtain a 3% referral fee price
- Silver – recruit 1 to five associates and obtain an 8% referral fee price
- Gold – recruit 6 to 25 associates and obtain a ten% referral fee price
- Diamond – recruit 26 to 75 associates, generate $250,000 in downline funding quantity and obtain a 12% referral fee price
- Platinum – recruit 75+ associates, generate $500,000 in downline funding quantity and obtain a 15% referral fee price
Residual Commissions
BixoTrade pays residual commissions through a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary workforce, cut up into two sides (left and proper):
The primary degree of the binary workforce homes two positions. The second degree of the binary workforce is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary workforce are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary workforce are stuffed through direct and oblique recruitment of associates. Be aware there isn’t a restrict to how deep a binary workforce can develop.
On the finish of every day BixoTrade tallies up new funding quantity on each side of the binary workforce.
Associates are paid 10% of funds generated on their weaker binary workforce facet.
As soon as paid out on, quantity is matched in opposition to the stronger facet and flushed.
Platinum ranked BixoTrade associates earn a ten% residual fee matching bonus on personally recruited associates.
Rewards Program
BixoTrade rewards associates for producing binary workforce quantity as follows:
- generate $500,000 on each side of your binary workforce and obtain a Rolex watch
- generate $1,000,000 on each side of your binary workforce and obtain a Ninja H2 Carbon bike
- generate $1,5000,000 on each side of your binary workforce and obtain $50,000 value of gold
- generate $2,000,000 on each side of your binary workforce and obtain a Porsche 718 Spyder
- generate $5,000,000 on each side of your binary workforce and obtain a condominium valued at $300,000
Becoming a member of BixoTrade
BixoTrade affiliate membership is free.
Full participation within the hooked up revenue alternative nevertheless requires a minimal $100 funding.
Conclusion
BixoTrade payments itself as “The Most Trusted Crypto Foreign money Platform”, which is an odd declare to make given the corporate hides who’s working it.
Along with hiring actors to play administration, BixoTrade has populated its web site with stolen photos and faux names:
Who precisely are BixoTrade’s affiliate buyers trusting?
The ruse behind BixoTrade’s marketed returns is “crypto & foreign currency trading” by way of “distinctive synthetic intelligence”.
The target of our funding fund is to make sure common beneficial properties to non-public buyers with cheap threat ranges by way of reinvestment of gathered funds into varied varieties of property.
There’s naturally no proof of BixoTrade engaged in any exterior income producing actions.
In representing they’re a US firm and by primarily soliciting US buyers, BixoTrade falls underneath the jurisdiction of the SEC.
With a view to legally function a passive funding alternative within the US, BixoTrade must register with the SEC.
BixoTrade just isn’t registered with the SEC, that means that at a minimal the corporate is committing securities fraud.
For BixoTrade’s US associates, promotion of unregistered securities within the US can be unlawful.
Because it stands the one verifiable income coming into BixoTrade is new funding.
Utilizing new funding to pay marketed returns makes BixoTrade a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This can starve BixoTrade of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, the vast majority of contributors lose cash.
Replace 14th September 2021 – BixoTrade collapsed in mid July.
The scammers behind BixoTrade have rebooted the Ponzi scheme as Bixo Cash.
I’ve additionally confirmed the identification of BixoTrade/BixoMoney CEO “Benjamin Gimson” as Florida primarily based actor Josh Andrews (extra particulars in hyperlink above).