Tradera is a new MLM business that started in 2019. Their priority is to educate people in trading on the financial market. Tradera is most known for forex trading. To explain this in a simple way for those not familiar with forex trading, it is the process of changing one currency into another currency for a variety of reasons, usually for commerce, trading, or tourism.
Tradera is not limited to trading on the forex market as they also provide insight on stocks and cryptocurrency.
The thing is, with MLM companies the opportunity to earn a decent income is through recruiting others to join. That fact leads to all MLM companies being labeled as pyramid schemes especially if there is no actual product being offered.
So to know whether or not this business opportunity is right for you, this post will provide full details on Tradera and all it has to offer. I must mention that I am not in no way associated with the company and am in a position to share this review with you because I have past experience with another MLM company called World Ventures.
As I have strived to make a passive income in the past within that MLM company and other past business failures, I have found success marketing online which is the best way to go about marketing in general.
MLM companies will turn you into that annoying friend that tries to get everyone you know or come across to join or buy your products. The simple fact of the matter is that there is a low success rate for distributors within Multi-Level Marketing Businesses and if you consider doing so your best bet is to have some skills to reach a wider audience instead of being limited to the people in your circle.
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Back to the Tradera Review
Because of the worldwide reach of trade, commerce, and finance, forex markets tend to be the largest and most liquid asset markets in the world.
The problem as also explained on Tradera’s official website on the bottom of their page is a Risk Disclosure, which states the well-known fact that trading on the financial markets carries a high risk and may not be suitable for all investors.
If you do not have money to lose, then you would not want to dive into the trading world without seeking professional help. The tools that Tradera provides may be just what you need but even experienced and professional traders are vulnerable to losses.
Tradera Review
As stated earlier, Tradera was established in 2019. Tradera was founded by Kody Sell and Eastan Harris. Apparently, these two ran a company called New Investments which was forex related since 2015, but I could not find much information on that company.
After researching and viewing their website, I also couldn’t find anything regarding their experience in trading on the financial market. You will most likely have to trust their word and try to grasp the experience they have after becoming a member.
According to its Tradera.org website on the “About Us” page, the company is located in Dallas, Texas, which is where Eastan resides.
Membership
Membership comes in two forms which are Client and IBO. You are encouraged to get the Client to begin with as it provides the tools and training to be successful with trading on the financial market. The IBO membership allows you to earn from recruiting others to the program. The list of services provided from their Client membership is detailed below.
- Trade Academy
- Trade Alerts
- Live Trading Sessions
- Fundamental Analysis
- Market Forecasts
- Member Support
This membership is priced at $99 a month and the IBO is priced at $15 monthly.
Compensation
You can get paid by recruiting others to join Tradera and applying the methods and tools Tradera provides in forex trading.
The amount of money you earn from recruitment will depend on your rank. You will have 3 legs and you need a certain amount of people in each one to get ranked.
For example: With the Bishop Rank, you will need 75 total team members, with a minimum of 30 members on your left leg, 30 members in your middle leg, and 15 members in your right leg. The ranks are detailed below.
TRADERA RANKS
- Founder – maintain 3 active premium members on 3 legs for a total of 9 members. 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 for a total of 10 members. 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 for a total of 25 members. 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 for a total of 75 members. 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 for a total of 250 members. 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 for a total of 500 members. 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 for a total of 1,000. 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. for a total of 2,500 members. 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 for a total of 5,000 members. Pays $25,000 per week.
Is Tradera A Scam?
To be a member there would be a monthly fee of $115 and you will get paid by recruiting members and applying the methods and tools Tradera provides in trading on the financial market.
As a new MLM business, I have been seen people signing up left and right on my Instagram page so I knew it had to be another Multi-Level Marketing business that is trending at the moment. Usually, I would not recommend people for signing up for an MLM business, but that is based on a variety of reasons. The main reason is that it can become watered down and signing people up can become difficult when more people know about the opportunity.
The thing that draws me away from the business is the fact that trading on the financial market is risky and MLM business models are not set up for a majority of people to succeed. Them numbers per week sound nice, but reaching bishop status is more realistic compared to achieving a rank as a Legend.
Check out my number 1 recommendation to make a passive income
At the rate that I have observed from a friend’s page on Instagram, he has recruited 25 members and is very well earning $250 a week for Noble status. Although he has improved his ranking, your potential to earn is based on the account of the success of the people in your downline, and their ability to keep paying the monthly membership fee to stay active.
I personally prefer to be in control of my own destiny. If the people you recruit do not improve their rank after two months then they will probably start to fall off by the third which will affect your income dramatically. Imagine going from earning $1,000 a month then going back to $500. Just getting people to maintain their membership will be a job in itself.
As far as making money by trading on the financial market, it is not an easy endeavor, and even experienced traders lose money. To be a successful Trader takes years and years of experience and with that said, you are still susceptible to losses.
With Forex Trading, it can be difficult to be consistently profitable and you will need a decent amount of money to get involved in the forex market, and when I say decent I mean $2,000, preferably $5000 if you want a decent income stream.
With Stock Trading, you can invest as little as $500 and see a great return on investment. If you buy stocks for capital gains you could possibly see a profit the same day, but if you think the value will keep going up then you can be enticed to leave it alone and let it build.
Although it is wise to not cash out on stocks in which you predict the value will rise, that wise decision could prove to be a wrong decision if the value of the stocks fluctuate or drop to the point that the few thousands of dollars you thought you had turned into a couple if not worse. I’ve had a personal experience with that scenario.
Trading with Cryptocurrency is the biggest mystery when it comes to trading on the financial market. It is also the riskiest of all because the currency is not regulated by any form of centralized government.
Making money in cryptocurrency use to be easy when the markets were all going up. You just invested in the right ICO or got in early on an altcoin and watched the massive gains.
Some of the earliest adopters of Bitcoin managed to earn a staggering 4,057,900% return on their investment when BTC sold for just $31 per unit. Imagine that return at the current price or the price it reached during its peak in December 2017!
Bitcoin and altcoin millionaires were made overnight, but here in 2020 the landscape has changed. Making money on cryptocurrency has generally turned into a long game
To make money trading cryptocurrency, you have to stay in the game 24/7 to see a price spike or drop coming. Cryptocurrencies never sleep.
Is Tradera a Scam?
Yes and No. See the thing is that they are most likely marketing to ordinary people as an easy way to make money by referring members and learning how to trade on the financial market. What these ordinary people don’t know is that they are studying for something that takes a decent amount of money to get involved in and make a good income. Sure you can get lucky with less money in the crypto world, but do you want to be a part of a business that is based on luck.
From the words of Bill Gates regarding cryptocurrency…“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates said on CNBC’s “Squawk Box.”
Not everybody is good at recruiting, and for those that realize how much money it takes to get involved in the Financial Markets along with the risk of investing in cryptocurrency will come to the sobering conclusion that they lost money by joining Tradera.
Your best chance of making money with this is purely off of recruitment, and as a new MLM, you can probably count on one hand the people making a decent income from investing in the financial markets. My intuition tells me maybe five people if that. The best Multi-Level Marketing companies come with a product that people can easily benefit from or resell.
It’s hard to see the value in paying $100 a month for some form of education and insight on the financial market when you can get that for free. Click on this link for a Free Stock and Forecast on whats going on in the financial market for stocks and cryptocurrency. You can also go on Youtube to watch videos for trading on the financial markets.
The Forex portion is a waste because I am pretty confident there is not too many people that have $5,000 to make Forex Trading a worthwhile venture.
Out of all MLM’s I have reviewed, this is the riskiest of all as it poses the risk of you losing not just from monthly membership fees, but by influencing you to invest in the financial market as well. Not to say investing in the financial market is a bad thing. It just doubles your risk of losing money since you will probably pay the monthly membership for months and struggle to earn an income by recruiting
I think it is best to always have experience and a bit of success in whatever you do before recruiting people to do the same thing. Even with that said, I still can’t see the value in recruiting people to do this when people can learn and do this themselves. I assume what stands out might be there training and forecast on the forex market as the above link is for stocks and cryptocurrency, but chances are you are not ready for Forex Trading anyway.
The nature of this business and the fact that it is an MLM makes me feel like this company won’t last, but I can be proven wrong.
You may want to have $500 to $1,000 to play with before investing in stocks. If you have $5,000 or more to invest in the Forex Market, then this may be a good opportunity for you. Just remember you will have to recruit like-minded people with that kind of money to invest.
If you have any questions or experience with Tradera, feel free to drop a comment in the section below.
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Thank you for this comprehensive review on Tradera. I must say I don’t know much about them. Especially after joining the Wealthy Affiliate, we (me and my partner) didn’t look back. And we are so grateful for the Wealthy Affiliate community.
All the best
Rani