Epic Trading pyramid scheme warning from the Philippines
Epic Trading has received a pyramid scheme warning from the Philippines.
As per the Philippine SEC’s 19th January notice;
What makes EPIC TRADING appealing to the public is not the business of foreign exchange but the chance to earn weekly and monthly referral fees from recruitment of up to $1,000,000.00.
An IBO is entitled to receive income in accordance with the EPIC Compensation Plan, which is basically a typical pyramiding cum Ponzi scheme i.e. the more recruits, the higher the compensation.
BehindMLM reviewed Epic Trading in September 2020. We identified disclosure issues and the potential for pyramid recruitment.
It’s pretty obvious that Epic Trading’s compensation plan was written with affiliate recruitment in mind.
One thing we cleared Epic Trading of is securities fraud, by way of the company not soliciting investment or providing automated returns of any kind.
The Philippine SEC, presumably as a precautionary measure, slap Epic Trading with an additional securities fraud warning.
The public is hereby informed that EPIC TRADING is NOT registered as a corporation nor as a partnership.
EPIC TRADING is likewise not authorized to offer, solicit, sell or distribute any investment/securities to the public.
The public is cautioned that any offer or promise of ridiculous rates of return with little or no risk similar to what EPIC TRADING is offering is an indication of a possible Ponzi Scheme where returns to early investors are likely to be paid out from the investments of new investors and not out of the companies’ profits similar to those already flagged by the Commission as scams.
Epic Trading’s website traffic appears to have been in decline for most of 2021.
Alexa currently ranks the US as the only notable source of traffic (83%).