Banker Quotes fails to provide ownership or executive information on its website.

Banker Quotes’ website domain (“”), was  privately registered on January 18th, 2023.

In an attempt to appear legitimate, Banker Quotes provides incorporation details for BQ Technologies LTD on its website.

BQ Technologies LTD is purportedly registered in the Marshall Islands.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.

Even more so when said shell companies are incorporated in dodgy offshore tax-havens.

As opposed to the Marshall Islands, if we take a look at Banker Quotes’ official FaceBook page we can see it is being run from Colombia.

This strongly suggests whoever is running Banker Quotes is based out of and/or has ties to Colombia.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

Banker Quotes’ Products

Banker Quotes has no retailable products or services. Affiliates are only able to market Banker Quotes affiliate membership itself.

Banker Quotes’ Compensation Plan

Banker Quotes affiliates pay a fee, which allows them to invest cryptocurrency on the promise of a 0.1% to 1% daily ROI.

The more a Banker Quotes affiliate wants to invest, the more they have to pay in fees:

  • Consultant ($50) – provides access to $200 in referral commissions and residual commissions only, no investment
  • Standard ($150) – able to invest $250 to $999
  • Golden ($500) – able to invest $1000 to $2999
  • Titanium ($1000) – able to invest $3000 to $9999
  • Platinum ($2000) – able to invest $10,000 to $49,999
  • Banker License ($5000) – able to invest $50,000 to $99,999

The MLM side of Banker Quotes pays on recruitment of affiliate investors.

Banker Quotes Affiliate Ranks

There are six affiliate ranks within Banker Quotes’ compensation plan.

Along with their respective qualification criteria, they are as follows:

  1. Consultant – sign up for any of Banker Quotes affiliate memberships
  2. Qualified Consultant – recruit two Consultants, placed one on each side of the binary team
  3. Sapphire – recruit two Qualified Consultants or higher (one on each side of the binary team), and generate $75,000 in downline fee volume
  4. Ruby – recruit two Sapphires or higher (one on each side of the binary team), and generate $200,000 downline fee volume (max $100,000 from any one recruitment leg)
  5. Emerald – recruit two Rubys or higher (one on each side of the binary team), and generate $1,000,000 in downline fee volume (max $350,000 from any one recruitment leg)
  6. Diamond – recruit three Emeralds (two on one side of the binary team, one on the other), and generate $2,500,000 in downline fee volume (max $850,000 from any one recruitment leg)

Note that downline fee volume is counted at 50% of actual fees paid.

Referral Commissions

Banker Quotes affiliates earn a 15% referral commission fees paid by personally recruited affiliates.

Residual Commissions

Banker Quotes pays residual commissions via a binary compensation structure.

A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):

The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).

Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.

Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.

Banker Quotes feeds 50% of fees paid by affiliates into the company-wide binary team.

At the end of each day Banker Quotes tallies up new fee volume on both sides of an affiliate’s binary team.

20% of new fee volume on the weaker binary team side is paid out as residual commissions.

Note that residual commissions are capped daily based on rank:

  • Qualified Consultants can earn up to $500 a day in residual commissions
  • Sapphires can earn up to $2500 a day in residual commissions
  • Rubys can earn up to $5000 a day in residual commissions
  • Emeralds can earn up to $15,000 a day in residual commissions
  • Diamonds can earn up to $25,000 a day in residual commissions

Once paid out on, volume is matched against the stronger binary team side and flushed.

Any leftover volume on the stronger binary team side carries over for up to 30 days.

ROI Match (unilevel)

Banker Quotes pays a ROI Match via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

Banker Quotes caps payable unilevel team levels at ten.

The ROI Match is paid as a percentage of daily returns paid to recruited affiliates across these ten levels based on how much a Banker Quotes affiliate has paid in fees:

  • Consultant tier affiliates do not earn a ROI Match
  • Standard tier affiliates 15% on levels 1 and 2 and 10% on level 3
  • Golden tier affiliates earn 15% on levels 1 and 2 and 10% on levels 3 and 4
  • Titanium tier affiliates earn 15% on levels 1 and 2 and 10% on levels 3 to 5
  • Platinum tier affiliates earn 15% on levels 1 and 2 and 10% on levels 3 to 7
  • Banker tier affiliates earn 15% on levels 1 and 2, 10% on levels 3 to 7 and 5% on levels 8 to 10

Rank Achievement Bonus

Banker Quotes rewards affiliates for qualifying at Sapphire and higher with the following one-time Rank Achievement Bonuses:

  • qualify at Sapphire and receive $1500
  • qualify at Ruby and receive $5500
  • qualify at Emerald and receive $15,000
  • qualify at Diamond and receive $50,000

Joining Banker Quotes

Banker Quotes affiliate membership costs $50 to $5000.

The more a Banker Quotes affiliate pays in fees, the higher their income potential.

Banker Quotes Conclusion

Banker Quotes represents it generates returns through high frequency trading:

It’s the usual MT5 + myfxbook affair, which without audited financial reports lends itself to fraud.

Banker Quotes represents it’s using WhizFX as a broker:

WhizFX’s website domain was registered in late 2022. It’s run through shell companies in Australia, Canada and St. Vincent and the Grenadines.

On the regulatory front, WhizFX is only registered to provide financial services to Australian residents (ASIC registration is a favorite for scammers due to lax enforcement):

WHIZ FX PTY LTD is not a product issuer of over-the-counter (OTC) derivatives and as such, it will not make a market in such products, nor transact with clients as principal.

It is authorised to perform financial services in Australia, to wholesale clients only and limited to the authorisations given to it, and only for Australian residents.

We know Banker Quotes is being run from Colombia so immediately we have a red flag.

Despite acknowledging it is not authorized to provide financial services outside of Australia, WhizFX very clearly pitches itself at Latin America:

Finally, we also have this major red flag;

WHIZ FX, LLC does not provide services to residents of the USA, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, Vanuatu and EEA countries.

Forex trading is perfectly legal in the US, provided you register with the appropriate regulators. This is part of consumer protection, and failing to do so lends itself to consumer fraud.

Rather than operate legally, WhizFX chooses to exclude the US and Europe. One could make the argument that WhizFX markets itself to Latin America – the response to which is so why aren’t they registered to operate legally in a single South American country?

Getting back to Banker Quotes, it itself fails to provide evidence it has registered with financial regulators in any jurisdiction.

As the operator of an MLM company marketing passive returns purportedly derived via forex, Banker Quotes is required to register with commodities regulators in every jurisdiction it operates in.

This requirement includes periodic filing of audited financial reports, which is the only way to verify Banker Quotes is actually paying withdrawals with trading revenue.

Hiding company ownership and details about its trading bot from consumers are also securities and commodities fraud violations.

As it stands the only verifiable source of revenue entering Banker Quotes is new investment. Using new investment to pay affiliate investors a daily ROI would make Banker Quotes a Ponzi scheme.

With nothing marketed or sold to retail customers, the MLM side of Banker Quotes adds an additional pyramid layer to the MLM opportunity.

As with all MLM Ponzi schemes, once affiliate recruitment dries up so too will new investment.

This will starve Banker Quotes of ROI revenue, eventually prompting a collapse.

Typically a “broker trading bot” MLM schemes exit-scam by blowing up their bot or just disappearing.

Regardless of how Banker Quotes inevitably collapses, the majority of participants in Ponzi schemes are guaranteed to lose money.