CopyProTraders offers no info on its web site about who owns or runs the corporate.
CopyProTraders’ web site area (“copyprotraders.com”) was privately registered on October seventeenth, 2020.
Additional analysis reveals CopyProTraders associates citing Antione McBay as founding father of the corporate:
Quite than simply be upfront about firm possession, on LinkedIn McBay refers to himself as CopyProTraders’ “servant” (cringe) and Chairman.
Antione McBay appears to have made a reputation for himself within the early 2000s and 2010s selling Max Worldwide and Momentis.
McBay’s Fb web page has him “from Dallas, Texas”. His LinkedIn profile cites him in Vietnam.
It seems that though McBay is a US citizen from Texas, roughly three years in the past he relocated to Vietnam.
McBay’s transfer to Vietnam noticed him get into cryptocurrency fraud, by way of promotion of BitAnex and E-Platform 365.
BitAnex is a few ERC-20 shit token. I wasn’t capable of verify if there was a separate revenue alternative hooked up to it. I did word it was promoted alongside E-Platform 365.
E-Platform 365 was a each day returns Ponzi scheme working below the guise of cashback.
After E-Platform 365 collapsed I wasn’t capable of verify whether or not McBay continued to advertise crypto scams.
Sooner or later he joined QuiAri and was a part of “Quiari Workforce Vietnam”.
McBay was nonetheless selling QuiAri into mid 2020, which leads us to CopyProTraders’ finish of yr launch.
Learn on for a full overview of CopyProTraders’ MLM alternative.
CopyProTraders’ Merchandise
CopyProTraders has no retailable services or products, with associates solely capable of market CopyProTraders affiliate membership itself.
CopyProTraders’ Compensation Plan
CopyProTraders associates join and place cryptocurrency below the management of CopyProTraders. CopyProTraders executes trades on the affiliate’s behalf, on the expectation of passive returns.
Every CopyProTraders affiliate is charged $99 a month for entry to passive returns.
CopyProTraders takes this charge and makes use of it to pay recruitment commissions.
Word that CopyProTraders withholds commissions till an affiliate has “earned at the very least $600”.
Recruitment Commissions
CopyProTraders pays recruitment commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel group, with each personally recruited affiliate positioned immediately below them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel group.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
CopyProTraders caps payable unilevel group ranges at seven.
Recruitment commissions are paid on each $99 affiliate charge paid throughout these seven ranges as follows:
- degree 1 (personally recruited associates) – $21
- ranges 2 to 7 – $7
Prime Affiliate Infinity Bonus
CopyProTraders takes $10 of each $99 affiliate membership charge and makes use of it to pay a Prime Affiliate Infinity Bonus.
To qualify for the Prime Affiliate Infinity Bonus, a CopyProTraders affiliate should recruit and preserve 15 personally recruited associates. Every of those fifteen recruited associates will need to have recruited 5 associates themselves.
The Prime Affiliate Infinity Bonus is $10 paid to the primary certified upline affiliate.
I.e. if the recruiting affiliate isn’t Prime Affiliate Infinity Bonus certified, the system will search additional upline till it finds a professional affiliate.
That affiliate will obtain the $10 Prime Affiliate Infinity Bonus, month-to-month recurring so long as membership charges are paid.
Becoming a member of CopyProTraders
CopyProTraders affiliate membership is $99 a month.
Word that whereas they’re calculated in USD, all CopyProTrader membership charge funds and commissions are paid in bitcoin.
Conclusion
After relocating to Vietnam and getting his rip-off on selling E-Platform 365, Antione McBay tried to go respectable with Quiari.
That didn’t work out so right here we’re with one other MLM crypto rip-off – besides this time McBay is working the present.
CopyProTraders combines securities fraud with pyramid scheme recruitment.
Everybody indicators up as an affiliate and pays a $99 a month charge… in bitcoin after all as a result of good luck getting your a refund.
Anybody who hasn’t earned $600 is locked out of commissions. Seeing as you may’t earn commissions till you’ve “earned $600”, presumably that is $600 in passive returns.
Simply so there’s no confusion, right here’s the precise copy from CopyProTrading’s advertising and marketing materials:
AFFILIATE: Any individual that chooses to take part within the Copy Professional Merchants Compensation Plan and has earned at the very least $600.
CopyProTraders’ securities fraud takes place by means of automated buying and selling.
The Copy Professional Merchants service might lead to trades in in your behalf.
You must perceive that’s extremely speculative and that you can maintain important losses exceeding the quantity used to repeat a dealer or merchants on account of the next:
It would contain automated buying and selling execution whereby trades are opened and closed in your account with out your guide intervention.
For the “bUt ThE cRyPtO iS iN mY eXcHaNgE aCcOuNt!” crowd, right here’s the Howey Check definition of an funding contract:
The U.S. Supreme Court docket’s Howey case and subsequent case legislation have discovered that an “funding contract” exists when there’s the funding of cash in a typical enterprise with an affordable expectation of earnings to be derived from the efforts of others.
Whether or not your invested crypto is saved on an trade or not is irrelevant, it’s pooled below a typical enterprise (CryptoProTraders).
And that is accomplished solely on the ‘expectation of earnings to be derived from the efforts of others’ (buying and selling exercise).
Antione McBay’s game-plan appears to be conceal out in Vietnam while committing securities fraud, particularly within the US.
As I write this, Alexa estimates 80% of site visitors to CopyProTraders’ web site originates from the US.
For CryptoProTraders associates within the US, know that promotion of securities fraud can be unlawful.
Failing the SEC or regulators in Vietnam taking motion, the opposite consequence of the “cRyPtO iS iN mY eXcHaNgE aCcOuNt” mannequin is rigged trades.
The latest instance of this taking part in out was iQuandex’s exit-scam.
Along with securities and pyramid fraud, CryptoProTraders can be violating the FTC Act.
The “our merchants” part of CryptoProTraders web site offers grainy photographs of people and fluffy bios.
No verifiable proof or buying and selling information, with respect to alleged buying and selling for CopyProTraders is supplied.
Nor does CryptoProTraders present customers any historic buying and selling outcomes, or details about who precisely is behind their automated buying and selling software program.
These are all potential violations of the FTC Act with respect to advertising and marketing disclosures.
Along with dropping cryptocurrency via rigged trades, nearly all of contributors in MLM pyramid schemes are assured to lose cash.
Be it buying and selling or pyramid recruitment, solely a choose few are creating wealth in CopyProTraders.
Be cautious of CopyProTraders promoters dismissing/ignoring securities fraud, and representing they’re in revenue over the short-term.