Be Rules launched after Canadian fraud warning
Late last month I was engaged with a reader pretending retail customers had interest in Be’s apps.
At the time I noted Be had changed their website domain from “befactor.com” to “berules.com”.
Considering the Be reboot of Melius was not that old itself, I flagged this as a strange.
MLM companies don’t change their website domain on a whim.
For all my poking around though, I couldn’t figure out why Be abruptly changed their website domain.
Today that mystery was solved.
Back on December 2nd, Quebec’s Autorite Des Marches Financiers issued a fraud warning against BeFactor.
As per the AMF’s warning,
BE Factor is not registered with the AMF in any capacity whatsoever and is therefore not authorized to act as a securities or derivatives dealer or adviser in Québec.
BE Factor is based in Dubai, United Arab Emirates. It is not registered with Corporations Canada or the Québec enterprise registrar (REQ).
BE Factor entices people with the promise of acquiring wealth with little effort and no foreign exchange or cryptocurrency knowledge.
A number of individuals and groups operating in Québec have been identified as promoting BE Factor products and services.
The AMF is currently taking steps to put an end to solicitation by these individuals and groups, which is being conducted primarily through social media.
The AMF reminds the public that there is no such thing as a high return without a high degree of risk and that foreign exchange and cryptocurrency markets are complex and volatile.
This is an interesting take from the AMF, as typically non-passive investment schemes aren’t seen as securities.
Apparently as per the laws in Quebec, Be offering signals through their apps requires them to register as a “securities or derivatives dealer or adviser”.
They’re 100% right on their pyramid concerns though (recruitment of new members). We’ve flagged Be as a pyramid scheme since its original Melius launch in 2018.
What specific effect the AMF’s warning had on Be’s business operations I can’t say. One possibility is payment processors and banking channels flagging the company as suspicious.
Whatever happened, Be was undeniably spooked.
You can plot the effect the AMF’s warning had on Alexa traffic charts for Be’s two website domains:
At the time of publication Alexa ranks the top sources of traffic to Be’s new website as the US (57%), Colombia (8%) and Canada (2%).
Bear in mind the AMF’s jurisdiction is Quebec. I’m not aware of Canada’s other provinces issuing their own Be warnings.
“Signals” is just a fancy way of saying “share tips” and share tips generally aren’t regulated. Almost every national newspaper features share tips. It comes under the category of generic financial journalism.
That’s not to say that Quebec doesn’t have much stricter laws than most developed countries on share tips, it just makes them unusual if they do.
The obvious alternative explanation for the warning is that BE participants are specifically telling individuals which shares they should buy and sell, which falls into the domain of regulated financial advice, as opposed to publishing generic articles saying “I think Share X is a good buy”.
Alternatively there may be pump-and-dump concerns in play. If you have a load of suckers signed up to a “signals app” there will be a temptation to buy a load of penny shares and then promote that share via the app. This is illegal in every developed market, regardless of whether share tips are regulated or not.
You guys are so clueless that you don’t even bother to dig in to any facts. He said she said and here is our fake news opinion.
No you dumbazz they don’t sell penny share, they don’t even sell any means of share or pump and dump, they provide trade signals in forex…..
Now if you say their pumping and dumping trillion dollar economy, may lord have mercy on your ounce of brain cells.
It is so sad that you have to come up with such petty news, that you can’t even break down any of their products down and the company has more retails customers than distributors.
And yes anyone can signup without MLM or sponsor, unlike all other schemes you were paid not to talk about
There’s nothing he said she said about Be running from regulatory fraud warnings.
I wonder how many “be” domains the Islam brothers have ready to go each time Be receives a warning. We might be in for some delicious popcorn.
I’ve already addressed this. The products are irrelevant in light of Be being a pyramid scheme.
Counting affiliates who stop paying fees as retail customers isn’t regulatory compliant.
Feel free to show me an audited income disclosure statement from Be with the actual number of active retail customers in the company, versus that of affiliates (active and inactive).
This is with the actual definition of a retail customer, i.e. people who never signed up as affiliates under any account.
I’ll be right here waiting.
Shame,you need to go back to school for some basic reading-comprehension and math classes silly scammer
BE sells monthly subscriptions, for the moment at $179. Then the apps cost a one time purchase fee.
My thought is that if BEs signals didnt work, the customers would not stay for more than the first month.
In the apps you get signals, (or tips if you want to call it that). You take those signals and use them at your own broker, separated from BE.
You get a choice of just do this above and just trade.
Or you can invite two (2) people, that became members.
Then you get your monthly subscription for free. This is not mandatory to do.
They also have a MLM option if you want. This is not mandatory to do.
If that is Ponzi, I have no idea… Its for subscriptions only.
The setup is similar to, for example Auviora.
They also have a monthly subscription, that is free if you invite 2 people that become menbers. And they also have MLM as a choice.
Nobody in BE cares about the signals. It’s a pyramid scheme paying on recruitment of new affiliates.
As long as everyone recruited pays their subscription fees, commissions are paid out.
Auvoria Prime, also set up by a scammer with ties to OneCoin, commits securities fraud.
https://behindmlm.com/mlm-reviews/auvoria-prime-review-eaconomy-securities-fraud-reboot/
I was a BE subscriber for around 7 months. I nearly had $1600 invested for my initial and monthly fees.
1st off I had a friend turn me onto the company. He spoke very highly off the company and that he was making tons of money trading forex.
As of about 2 months ago he’s not with BE anymore. The woman that brought him in took me on because he had disappeared.
I am not a veteran or experienced trader. I solely relay on the Shift app. It’s sold to you as having 80-90% wins. I was able to secure around 20-25%.
I would follow the trades within a couple of PIPS of the copy and paste App trades. I reached out to my sponsor and she says she doesn’t even use the Shift app.
That was shocking to me considering she posts nearly everyday wins reaching thousands of dollars.
I ask her secret and she says scalping. She started trading 2 months before me. I find it hard to believe honestly.
Her sponsor trades 3 accounts. His top account has made nearly a million dollars in 6 months. The training provided I aced.
I compared how I trade using my training against both of their trading styles and it doesn’t add up.
Last of all the Be company tried to force me into giving another $800 to subscribe because their auto renewal system malfunction and had me lapse in payment.
My experience was horrible and costly and probably cost me a friendship. I wouldn’t recommend them to anyone.
Something else that bothers me is that all the other apps they offer you must start another new subscription to use and they don’t really give you much info about the Apps.
From what I gather, as close to using the apps most Be affiliates come is leaving a 5-star review because marketing.
It’s a subscription-based pyramid scheme. Has been since Melius.
I thought I saw a recension about BE rules itself before, has it been deleted ? Cant find it now…
On here? I haven’t removed any “Be” articles or reviews. We’ve covered every rebranding AFAIK.
The funniest thing I’ve seen in awhile is BE just announced at their diamond retreat that it is the first trading MLM to be now part of the DSA.
What they neglect to mention is this is the DSA of UAE.
Hahahahaha, that’s a thing now? LOL!
“I would like to introduce Chairman of the DSA, Boris. Next to him is Boris, President of the DSA. And over here we have Mr. Secretary of the DSA, also Boris.”
Hello hello I was in the company 5 months & thought I’d leave a fair review.
I joined very optimistic & excited & because I believed in the company so much I did do the building side (MLM) and honestly i adored & trusted my uplines & the community & was pretty active in it.
Problem was I was 5 months in & wasn’t making consistent profits. Overall I lost money.
I know quite a few other people are in the same boat, I know of 1 girl who was in for 7 months & same situation.
I wanted to stay in the company & make try to make it work but I had to be realistic & eventually I couldn’t make my monthly subscription.
SHIFT APP (forex): overall this is a sham. The winning percentages are false & from what I understand to be true – manipulated on the live apps so that the winning percentages seem higher.
A lot of people will tell you to take every trade at TP1 but this will not put you in profit at the end of the month & then you are left to question if it’s just you.
The “tech” is mostly just trading signals.
LIVE CALLS: fantastic. There are some very skilled traders (who are actually just paying customers but nevertheless good) that can help to teach you and the mindset calls are very good also.
A lot of valid tips. There is a great sense of community. Huge emphasise around spirituality or religion.
TITAN APP (indicies): There is a trader named Miss J who is amazing but if you choose to take her trades you are relying on her to post – what if she disapears one day, or takes a week off?
You are unlikely to make thousands every week unless you are starting with a lot of money.
Within the apps (Shift & Titan) sometimes you are risking 50 pips to make only 20 pips (this can mean you are risking $50 to make only $20) – which makes no sense in terms or risk management & even the online education that comes with the company will tell you this.
EDUCATION: actually pretty good.. for beginners. Again the live ZOOM calls are good but these are from unpaid teachers (that were customers) – you have no idea if they’re going to leave or not.
There is live calls on WOW from a trader called GiGi who is very good, quite advanced. It’s not easy & takes a while to piece everything together.
It is likely you will need 1on1s to be able to trade for yourself but honestly most people just claim to make money from the apps.. Education is a little spread out & messy to find.
MLM: Hmm okay. There is a pdf & youtube videos that break it down.
Some things are misleading & stingy with payout – you get charged $30 every time you want to withdraw which seems like a lot in my opinion.
You have to have bought in 2 CUSTOMERS to make 20% instead of 10% commission on every purchase but if 1 of your customers decides to become a distributor you are back at 10% again – very stingy.
When you rank, you do not automatically stay at that rank which is very unclear in the pdf.
You get 700CV if you have someone buy a gold prime package but the next month it flushes down to 100CV. You have to have 1200CV (ON BOTH LEGS = 2400CV) to get the first main rank which you get paid $500 per month for.
I was never pressured to build. You don’t get access to your money instantly either, it can take weeks.
I stopped building because i saw the problems with the apps, was not making money myself & it all just felt unethical.
OVERVIEW: If you have a lot of money to blow & are new to trading you could definitely try the education & perhaps the relic crypto app (have not tried it myself), but if you do not have thousands upon thousands you could find it hard.
The backoffice online customer service is very very fast & the best I’ve seen.
If you have experience in trading or not very much money, it could be a waste of time.
I was invited to an event, attended, and here are my thoughts.
BE seems to be a company that sells lifestyle – pretty genius idea. But if you dont have idea what to do with your life, and you are stressed out, BE careful.
High vibes. Altered mental states, a very positive environment. I can tell that most people were truly positive, and empathetic – no manipulation there – but it was somewhere. I have background in marketing and I forgot that all of that hype was serving a purpose. I forgot the process – I just felt good about myself and about the others. Nobody were talking openly about anything, i think it was just because they had focuses on price only.
There were people who were obviously successful in making money(most obviously from other businesses as well), and there were people who had.. obviously less or even non of what they desired. That told me that i wasnt so special at all, it was an recruiting event, as I suspected.
Even tho I was doing my research about this company before I went there, i didnt understand the purpose, or true benefit of it, or the value. I didnt understand basically anything, I felt stupid! When I asked my questions, they explained in detail how things work, but non of that made no sense. While I felt so good, my learning brain was in error mode. I nodded that i understand, but i really didnt. Glad noone figured that out haha..
It felt so transparent, but never gave out the real information.. How good are the APPs? Where are the examples?, and who are the people who have put them together?; who are the people i am going to learn from? and so on…
Is stepping into the unknown worth signing a contract, for seemingly touchable riches? Probably if I would have money for that game and i dont need to stress about losing my investment. Why 3 alfa brothers have been brought up as an ultimate example while the real sigma brain was not even mentioned on the website, or rarely on any other articles on the web? The scam warnings are not out there without a reason. BE is not even showing in my google search, and there is a very weird thing going on with the domains, and abandoned social media accounts.
In my opinion it is legitimate MLM, for people who are money driven, and doesnt care if they are following another’s plan, no problem, good luck, no need to think for themselves!. But a trap if you are a freedom seeker. You are going to be involved inside the community that will never be highlighted in public – they will tell you that BE is next level different, but the same story goes throughout the decades with all the MLM companies.
BE is a good place to meet people, and see the world, but bad if you are driven by something more meaningful and public serving. (also bigger money and gratitude, and better mental health)
I decided not to join or buy anything, because whatever the information i need, i would just ask from someone I know, or reach out to professional for the advice. I dont need to invest into programs and APPs which are made and hosted by who knows who.
The licencing is a joke! Im fully honest with that. This community cannot explain what makes a person valid to work for them (!!not with them!!), and to teach new members.
I dont think that people who are taking the responsibility to teach others are stupid, far from that, just there is no quality check. There are brilliant people trapped inside that system. I met many of them within couple of hours.
To be honest, im also concerned about sharing intellectual property with BE. I do not want to share with people who can take over my special knowledge (without paying me directly), that took years to study, that gives me competitive advantage, add company’s name on top of it and share it with random audience, I would block my own success by doing so.
There are real hungry sharks swimming inside MLM, all trained to behave out of empathy, and get the best out of you.
The motivation like travelling cheap also didnt inspire me, because, why?? If im already successful, such discounts will never be my priority.. but it would matter if im poor and think that good life is about getting things easy and cheap. That hand washing hand mindset is conflicting to me.
The manipulation in BE is about making you feel good and safe, fulfilled, successful already, even when you havent proven anything yet.. Nobody asks deep questions from you, and if they ask, they want to know if your intellect can be used to benefit the company itself, not you!
You just get what you deserve by the level of your knowledge and commitment. Commission plan is quite nice tho. But the commission plan is good only because there is not real products, just the intelligence and the time of the members who will take care of everything.
I really got emotionally hooked with the good vibes for the following couple of days even if i decided to be observer at this event. I do enjoy good vibes 🙂 But there is a but.
I think BE is worthy of scam warnings, they are just going a little too far by using “spiritual” manipulation against free will. But also there are people to whom such business model is the best and the most natural thing to do.
Cannot blame anyone. That is why, I think BE is the most interesting MLM out there, still it should not be existing.
An MLM pyramid scheme with a strong marketing machine that focuses on vibes and manipulation. Whodathunk?