BixoTrade operates in the cryptocurrency MLM niche.

On its website BixoTrade claims its headed up by CEO Benjamin Gimson.

This wasn’t always the case though. On its official YouTube channel, a video uploaded on January 23rd reveals BixoTrade’s original CEO was James Bernard.

As above, Bernard is played by an actor with an American accent. Bernard’s promo video is shot in the usual rental setting.

That said, BixoTrade did go above the usual effort and decked out a complete storefront.

Unfortunately though whoever put up the BixoTrade decorations wasn’t very good at it.

This is from a second marketing video also uploaded on January 23rd.

This video reveals that, apparently within 24 hours, BixoTrade had hired a new CEO, Benjamin Gimson.

A full sit through of the second linked video above should make it abundantly clear these are actors in staged videos.

As to where the video was shot, at around [1:11] in this video a Lynx branded bus drives past.

Lynx is a US public transport company operating out Florida. The company run bus routes across Orange, Seminole and Osceola counties.

On its website BixoTrade provides three corporate addresses, one each in the UK, the US (Arizona) and Hong Kong.

In its Terms and Conditions BixoTrade states it’s

officially registered in Bixo FinTech Ltd. Company number 11994515 based in the United Kingdom.

Considering the company represents its entire corporate staff are operating out of an office in Florida, this appears to be baloney.

Furthermore UK incorporation is dirt cheap and effectively unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.

For the purpose of performing MLM due-diligence, UK incorporation is meaningless.

Alexa currently ranks top sources of traffic to BixoTrade’s website as the US (62%), Japan (12%) and Canada (2.5%).

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.

BixoTrade’s Products

BixoTrade has no retailable products or services, with affiliates only able to market BixoTrade affiliate membership itself.

BixoTrade’s Compensation Plan

BixoTrade affiliates invest funds on the promise of advertised returns:

  • Package 1 – invest $100 to $4999 and receive a 400% ROI over 200 days
  • Package 2 – invest $5000 to $24,999 and receive a 450% ROI over 200 days
  • Package 3 – invest $25,000 to $99,999 and receive a 500% ROI over 200 days

Referral Commissions

BixoTrade pays referral commissions of up to 15% on funds invested by personally recruited affiliates.

  • Active – sign up as a BixoTrade affiliate and receive a 3% referral commission rate
  • Silver – recruit 1 to 5 affiliates and receive an 8% referral commission rate
  • Gold – recruit 6 to 25 affiliates and receive a 10% referral commission rate
  • Diamond – recruit 26 to 75 affiliates, generate $250,000 in downline investment volume and receive a 12% referral commission rate
  • Platinum – recruit 75+ affiliates, generate $500,000 in downline investment volume and receive a 15% referral commission rate

Residual Commissions

BixoTrade 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.

At the end of each day BixoTrade tallies up new investment volume on both sides of the binary team.

Affiliates are paid 10% of funds generated on their weaker binary team side.

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

Platinum ranked BixoTrade affiliates earn a 10% residual commission matching bonus on personally recruited affiliates.

Rewards Program

BixoTrade rewards affiliates for generating binary team volume as follows:

  • generate $500,000 on both sides of your binary team and receive a Rolex watch
  • generate $1,000,000 on both sides of your binary team and receive a Ninja H2 Carbon motorcycle
  • generate $1,5000,000 on both sides of your binary team and receive $50,000 worth of gold
  • generate $2,000,000 on both sides of your binary team and receive a Porsche 718 Spyder
  • generate $5,000,000 on both sides of your binary team and receive a condominium valued at $300,000

Joining BixoTrade

BixoTrade affiliate membership is free.

Full participation in the attached income opportunity however requires a minimum $100 investment.

Conclusion

BixoTrade bills itself as “The Most Trusted Crypto Currency Platform”, which is an odd claim to make given the company hides who’s running it.

In addition to hiring actors to play management, BixoTrade has populated its website with stolen images and fake names:

Who exactly are BixoTrade’s affiliate investors trusting?

The ruse behind BixoTrade’s advertised returns is “crypto & forex trading” through “unique artificial intelligence”.

The objective of our investment fund is to ensure regular gains to private investors with reasonable risk levels through reinvestment of gathered funds into various types of assets.

There is naturally no evidence of BixoTrade engaged in any external revenue generating activities.

In representing they are a US company and by primarily soliciting US investors, BixoTrade falls under the jurisdiction of the SEC.

In order to legally operate a passive investment opportunity in the US, BixoTrade needs to register with the SEC.

BixoTrade is not registered with the SEC, meaning that at a minimum the company is committing securities fraud.

For BixoTrade’s US affiliates, promotion of unregistered securities in the US is also illegal.

As it stands the only verifiable source of revenue entering BixoTrade is new investment.

Using new investment to pay advertised returns makes BixoTrade a Ponzi scheme.

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

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

The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.

 

Update 14th September 2021 – BixoTrade collapsed in mid July.

The scammers behind BixoTrade have rebooted the Ponzi scheme as Bixo Money.

I have also confirmed the identity of BixoTrade/BixoMoney CEO “Benjamin Gimson” as Florida based actor Josh Andrews (more details in link above).