BotTronic gives no info on its web site about who owns or runs the enterprise.
Regardless of the shortage of transparency, BotTronic claims to be “solely centered on transparency”.
Within the footer of BotTronic’s web site a company deal with in Malta and registration quantity seem.
The deal with is shared with a number of unrelated shell firms. This means BotTronic exists in Malta in identify solely.
The supplied “registration quantity”, if official to start with, would thus correspond to a meaningless shell firm.
On its web site BotTronic claims to be “a model underneath F.A Providers”.
Malta itself is a scam-friendly jurisdiction with no lively regulation of MLM firms.
BotTronic’s official advertising credit Jeffrey Voskuil as the corporate’s CEO.
On July twenty third BotTronic uploaded a video to its official YouTube channel titled “Dwell Zoom – BotTronic Copy Bot Buying and selling within the Foreign exchange Markets | 2021/07/22 | With CEO & CMO“.
The Q&A bit of the video options Voskuil and BotTronic CMO Elisabeth Botman:
BotTronic represents Voskuil was “born and raised within the Netherlands”. This would seem to verify that BotTronic is being operated from the Netherlands versus Malta.
I wasn’t capable of confirm whether or not Voskuil has an MLM historical past.
As all the time, if an MLM firm shouldn’t be overtly upfront about who’s working or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
BotTronic’s Merchandise
BotTronic has no retailable services or products.
BotTronic associates are solely capable of market BotTronic affiliate membership itself.
BotTronic’s Compensation Plan
BotTronic associates make investments USD Coin (USDC) on the promise of “goal ROIs”.
- ExTronic ($97 month-to-month charge, $597 bi-annually or $997 yearly) – make investments $1000 to $50,000 and obtain a focused 20% a month
- LiTronic ($197 month-to-month charge, $1197 bi-annually or $2297 yearly) – make investments $1000 to $15,000 and obtain a focused 30% a month
- VoTronic ($297 month-to-month charge, $1697 bi-annually or $3297 yearly) – make investments $5000 to $50,000 and obtain a focused 30% a month
- ProTronic ($497 month-to-month charge, $3097 bi-annually or $5997 yearly) – make investments $15,000 to $100,000 and obtain a focused 30% a month
The MLM aspect of BotTronic sees commissions paid on recruitment of associates.
Notice that to qualify for commissions, a BotTronic affiliate should have an lively subscription.
Referral Commissions
BotTronic pays referral commissions down three ranges of recruitment (unilevel):
Residual commissions are paid as a share of obligatory subscription charges paid by recruited associates:
- degree 1 (personally recruited associates) – 15%
- degree 2 – 10%
- degree 3 – 5%
Recruitment Bonus
BotTronic associates earn a $500 bonus per 250 subscriptions they personally promote.
Becoming a member of BotTronic
With associates required to buy a buying and selling subscription to qualify for commissions, these turn out to be the defacto value of BotTronic affiliate membership.
- ExTronic – $97 month-to-month charge, $597 bi-annually or $997 yearly
- LiTronic – $197 month-to-month charge, $1197 bi-annually or $2297 yearly
- VoTronic – $297 month-to-month charge, $1697 bi-annually or $3297 yearly
- ProTronic – $497 month-to-month charge, $3097 bi-annually or $5997 yearly
Notice that whereas USD is quoted all through this assessment, BotTronic represents it solely accepts and pays out USD Coin (USDC).
BotTronic Conclusion
BotTronic is your typical “buying and selling bot” passive funding scheme.
BotTronic claims it’s
redefining and simplifying bot buying and selling within the foreign exchange markets.
Associates pay a month-to-month charge for entry to the foreign exchange bot, with BotTronic buying and selling for them and producing passive returns.
As per the Howey Check, BotTronic’s providing is an funding contract.
BotTronic affiliate funds are pooled underneath management of the bot (a third-party) and returns being generated passively (by the work of others).
The MLM aspect of BotTronic constitutes pyramid recruitment. All associates being required to keep up a subscription is pay to play, one other regulatory purple flag.
On its web site BotTronic claims to be legally compliant:
We Are Compliant
Compliance issues! We’ve got strived to do the whole lot good. We’ve got partnered with the correct professionals and brought care of all of the required legalities.
On its official YouTube channel, BotTronic has uploaded a number of interview movies that includes early US-based affiliate traders.
There’s Ken Shuler (aka Doyle Shuler) from Charleston, South Carolina:
Zeb Summers from Ashburn, Virginia:
Phillip Lee from Atlanta, Georgia:
David Garner from Kentucky:
And Fetigue Gbane from Fredericksburg, Virginia:
There are additionally movies that includes Alex Boorman (South Africa) and Oddbjorn Dahl (Norway).
To be able to supply securities legally, BitTronic must be registered with monetary regulators.
A search of the SEC’s public Edgar database reveals neither BitTronic or Jeffrey Voskuil are registered to supply securities within the US.
Offering passive returns by way of foreign currency trading would additionally require BotTronic to register as a dealer with the CFTC.
On its web site BitTronic makes no illustration it has registered with monetary regulators in any jurisdiction.
Which means that, regardless of the rest, BotTronic is committing securities fraud in each nation it operates in.
To be able to keep regulatory compliance, BotTronic can be required to supply periodic audited monetary reviews.
As a part of these reviews BotTronic can be required to reveal essential due-diligence details about its buying and selling bots.
Who created them, who owns and runs them and whether or not the bots have a confirmed observe report.
With out these reviews, there isn’t a method for customers to precisely assess BitTronic’s revenue alternative.
Notice that social media advertising shouldn’t be an alternative choice to legally required regulatory necessities. Neither is “bUt I’m MaKiNg MoNeY!”
“We will’t contact your cash (besides we completely can)” MLM schemes are inclined to run till the bot inevitably blows up, or the house owners carry out rigged trades to exit-scam.
Sometimes the one actual cash made is in pyramid recruitment.
So it’s with BitTronic.
If an MLM firm providing a passive funding alternative isn’t registered with monetary regulators and might’t present you audited monetary reviews, keep away.