Incomation Review: $200K forex account for $2000?
Incomation fails to provide ownership or executive information on its website.
Incomation operates from a subdomain hosted on Kartra (“incomation.katra.com”).
Kartra markets itself as “the greatest all-in-one platform ever”. Kartra is part of Genesis Digital LLC, a US company run by CEO Sarah Jenkins.
As far as I can tell, whoever is running Incomation is a client of Kartra’s – there’s otherwise no direct connection between the two companies.
Update 18th May 2023 – As of a few days ago Incomation’s Katra website went down.
As of a few hours ago, new Incomation front-end website has been set up on SamCart. /end update
At the bottom of Incomation’s website are a series of links under the heading “Connect with our Founder”.
These links lead to various social media profiles of Jamie Divine.
According to his FaceBook profile, Divine is a Canadian national living in the Philippines.
Before he launched Incomation, Divine was an Eaconomy promoter.
Eaconomy launched in 2019. The company came about after Hassan Mahmoud and wife Candace split from convicted fraudster David Mayer.
Before Eaconomy the Mahmouds and Mayer ran Silver Star Live. Both Silver Star Live and Eaconomy were MLM companies built around an AI forex trading bot.
The Mahmouds settled Silver Star Live commodities fraud charges with the CFTC in 2019. In 2021 the CFTC secured a $15.6 million judgment against David Mayer, again for Silver Star Live commodities fraud.
Eaconomy collapsed in 2020. In 2021 there was a brief Eaconomy reboot through Jeremy Reynolds’ Beyond.
That lasted a few months before Beyond itself collapsed and was sold off to My Daily Choice.
In early 2021 Eaconomy was rebooted for a a third-time, with the same AI forex trading bot ruse.
Eaconomy’s website is still up as of April 2023 but there’s not much going on.
Here’s a quote from Jamie Divine as he was launching Incomation;
Are you done with building up projects just to have them crash and burn?
Are you tired of companies that don’t have your best interests at heart?
Sick of being used for your networks and then left in the dust?
Are you fed up with over-promising and under-delivering?
Well, I have some exciting news for you!
We are introducing a revolutionary new AI trading system that leverages prop firm funds, but with a heart for the clients AND affiliates.
I know that was a lot of backstory to get back to Incomation. I’ll go over why I took the time to cover Eaconomy’s origins in-depth in the conclusion of this review.
Read on for a full review of Incomation’s MLM opportunity.
Incomation markets passive returns through an “A.I. trading bot”.
Access to the bot costs $1500 for a $100,000 funded account, or $2000 for a $200,000 funded account.
Funded accounts are primarily provided by Next Step Funded, with Incomation representing Next Step Funded will eat any losses.
Am I responsible for any losses on the account?
No, the losses are completely covered by the prop firm which is why they have such strict requirements to pass their challenges and maintain the accounts.
We’ll go over Next Step Funded a bit more in the conclusion of this review.
Incomation’s Compensation Plan
Incomation affiliates are paid on the recruitment of retail customers and affiliates who invest $1500 or $2000.
Incomation pays a referral commission on funds invested down two levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 20%
- level 2 – 10%
This is a one-time commission tied to initial investment.
Incomation pays a commission on passive returns earned down two levels of recruitment:
- level 1 – 20%
- level 2 – 10%
This is a monthly recurring commission, tied to passive returns paid out each month.
Incomation affiliate membership is tied to a $1500 or $2000 investment.
The more an Incomation affiliate invests the higher their income potential.
Incomation sells access to $100,000 and $200,000 forex trading accounts for $1500 and $2000 respectively.
Subject to some “challenges”, apparently there’s a firm willing to let people blow up hundreds of thousands of dollars for a tiny outlay.
Do I need to point out this is an utterly stupid business model that makes no sense in the real world?
Next Step Funded provides no ownership, executive or regulatory information on its website.
Next Step Funded’s website domain (“nextstepfunded.com”), was only recently privately registered on October 9th, 2022.
And there’s this, from Next Step Funded’s website terms and conditions:
These Terms are governed by the laws of Saint Vincent and the Grenadines and each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of Saint Vincent and the Grenadines.
St. Vincent and the Grenadines is a tax haven with no active regulation of MLM related fraud.
I also noted referenced to MDP Funding, which appears to be another funded trading account option.
MDP Funding is another company that doesn’t disclose anything about itself, other than it purportedly operates through Australian shell company Prop Trade Tech.
Like Next Step Funded, MDP Funding’s website domain (“mdpfunding.com”), was only recently privately registered on December 11th, 2022.
These are your first red flags when it comes to Incomation.
Having been an Eaconomy promoter, Incomation is just Jamie Divine copy and pasting the same A.I. trading bot model.
The problem with every trading bot MLM scheme is that if the bot actually worked long-term, there’d be no need for an attached MLM scheme.
Just run the bot, rake in infinity money and become one of the richest people on the planet.
On the regulatory front Incomation fails to disclose any information about its purported A.I. trading bot. With respect to regulatory licenses, the two at play here are securities and commodities.
Securities law covers any MLM company offering a passive investment opportunity. This is irrespective of how the investment opportunity is run or the medium (USD, cryptocurrency etc.).
Commodities laws kick in due to Incomation representing passive returns are derived via forex trading.
In the US, Incomation needs to be registered with the CFTC and SEC. Neither Incomation or Jamie Devine are registered with either regulator.
Next Step Funded doesn’t appear to be registered with any financial regulators either.
I did note this from Next Step Funded’s website FAQ;
Which Platforms Can I Use for My Trading?
You are permitted to trade your account with the MT4 platform which is provided by ASIC-regulated broker EightCap.
This is irrelevant. Incomation and Next Step Funded are both required to be registered with securities and commodities regulators in every jurisdiction they solicit investment in.
Unfortunately Incomation’s website doesn’t receive enough traffic for SimilarWeb to provide a geographical breakdown.
What I can provide you though is applicable regulators for admins of Incomation’s official FaceBook group:
- Jamie Divine – resident of Philippines, securities and commodities regulated by Philippine SEC
- Anfa Joy Samboa – appears to be resident of Philippines, securities and commodities regulated by Philippine SEC
- Will J. Galindez – resident of Illinois in the US, securities regulated by SEC and commodities regulated by CFTC
- Nicholas V. LoScalzo – resident of Kansas in the US, securities regulated by SEC and commodities regulated by CFTC
- Ollie Gray, resident of Worcestershire in the UK, securities and commodities regulated by FCA
None of these individuals appear to be registered with the applicable financial regulators.
What tends to happen in these dodgy trading bot schemes is the accounts inevitably blow up. Next Step Funded being around since late 2022 with anonymous ownership is testament to that.
With respect to losses, any money paid to Incomation is gone the moment it’s handed over.
This is from Next Step Funded’s website FAQ;
Do you offer refunds?
If you are purchasing an evaluation through Next Step Funded you are doing so in acknowledgement that you will not be refunded.
You’re basically hoping to recover your fees through the A.I. trading bot before the account blows up or Next Step Funded disappears.
Incomation’s regulatory shortcomings are reason enough to stay well-clear.
Look no further than Eaconomy for the inspiration behind Incomation, along with evidence that, even after four years, nobody has made long-term consistent money through trading.
Hey there, I’ve followed your site for years and appreciate most of what you put out there. I understand you’re doing your best to protect your community and I can’t fault you for that. In most cases, I think you are pretty accurate.
I just wanted to offer some more information to hopefully clear things up for you and your readers.
1) The founder of Eaconomy is a good friend and even though they’ve had their challenges with bad partnerships and not fully understanding how to operate things properly in the beginning, with lots of trial and error and many bots that didn’t work long term, there’s actually plenty of evidence of their current bot working well since it was on-boarded November 2021, I can reference myfxbooks to back that up.
2) When I discovered prop firms last year I too was very skeptical about the model but there are dozens of firms paying out traders every month based on strict criteria to make it a win win.
The prop firm offers the challenge and the demo accounts as an educational service fee and there is no investment involved. Where the firm makes money is for the many people that attempt the challenge and fail, then the few that actually produce trading results the firm is able to copy the trading of that trader for using their platform to earn in the markets.
3) Incomation was 100% founded by myself and even though it was inspired by my experience of trial and error with Eaconomy, I went on quite a journey to put all the pieces together and in no way are they partnered or related. It’s not perfect but what we are doing is providing a service fee to clients and their demo accounts (aka play money) they receive from the prop firm.
There is no investment or returns on that money. What the client can do is license our bot to help them pass the trading challenge with the firm and then grow the account to qualify for payouts from the firm that again is paying them on a service contract for providing demo trading services that the firm can choose what to do with in the real market with a regulated and registered licenses forex broker by copying the trades.
I’m happy to provide follow up information and even do an interview with you for your community because as I said in the beginning I appreciate where you’re coming from and your intention to protect people.
You can reach me at [removed]
Hi Jamie, thanks for stopping by.
MyFXBook is meaningless. Results can easily be faked and, more importantly, it’s not a substitute for legally required audited financial reports filed with regulators.
Cool. It still makes zero sense for anyone with access to millions to be giving random plebs $100,000/$200,000 trading accounts to blow up.
You’re marketing a passive investment opportunity. I’ve included screenshotted evidence of that in case you want to deny it (it doesn’t matter, even without the screenshots Incomation is still marketing passive returns).
MLM + passive returns = securities offering.
Not registering with SEC/CFTC (and/or financial regulators elsewhere in the world) = securities fraud.
Not registering passive returns scheme that utilizes forex = commodities fraud.
No need for an interview – other than “we’re not doing the thing we’re doing”, you haven’t addressed Incomation and your prop firms committing securities and commodities fraud.
1) You can fake fxbooks, but not through their verified measures of needing to attach their verification bot to the trading account, anyone with basic knowledge of forex can discern the difference but it’s best to talk to actual clients of the system for real experience.
When people are licensing software to use on their own trading accounts and able to control the settings it’s much different than a traditional hedge fund as far as investment or regulation goes.
2) You would need a basic understanding of prop firms and how they work, which is essentially a recruiting firm for traders and trading systems. Again 99% fail and then even if you pass they tend to not take the live trading risk on you for 3 months because 99% will not make it to a payout.
The other restriction in place is you can’t hit a certain loss target usually set at 5% or you lose the account. Again not risking 200K but actually only 10K.
The amount of leverage and funds they earn on the front end from people not passing and then not making payout can provide large amounts of funds, the few that make it through all the requirements can then be leveraged for them to earn in live markets leveraging the best traders and systems.
3) Incomation and prop firms don’t operate as MLM just a simple affiliate referral program with a percentage of the service fee. There is absolutely no real funds happening for the need to be regulated.
Only copytrading of demo accounts under the discretion of the firms on the backend. Incomation is not managing anyone’s funds, simply providing a software service to be used on demo accounts.
I don’t deny there are people receiving passive income, but it’s not an investment, it’s from the services rendered to the firms.
Also it was incorrect of you to mention the more the affiliate invests the more they earn because our affiliate program is completely free to sign up, there is no requirement to be a bclient and pay a service fee to be an affiliate and refer clients.
And still not a substitute for legally required audited financial reports filed with regulators.
As per Incomation’s marketing, pay a fee and get access to a $200,000 trading account that purportedly delivers passive automated returns.
What a ridiculous anti-consumer business model. I suppose that explains why the two I saw Incomation using have only been around for a few months, are attached to shell companies in dodgy jurisdictions and run by persons unknown.
Can’t speak for prop firms but Incomation very much is an MLM company.
MLM comp plan = MLM company.
There is absolutely no real funds happening for the need to be regulated. Only copytrading of demo accounts under the discretion of the firms …
So if only monopoly money in then monopoly money out? What on Earth am I paying $2000 for then?
Incomation charges for access to a passive investment opportunity. This is set up in a pooled fashion through third-parties. This satisfies the Howey Test.
Also any passive returns involving forex fall under commodities law. Not registering with the CFTC and commodities regulators = commodities fraud.
Cmon chief, you’ve already seen this with Eaconomy and the CFTC.
If I pay more to get access to the $200,000 funded account I’m earning more.
Money in –> more than you invested out = investment opportunity. “We’re not doing the thing we’re doing” pseudo-compliance doesn’t work here or with regulators.
Hey Oz, I really appreciate the dialogue and where you’re coming from, I’m sure you have a solid experience with traditional investing.
At this point I think it’s important for anyone interested to do their own research on how exactly prop firms operate legally without regulation.
1) Demo trading not a custodian to real funds
2) Service contracts hiring traders and paying for their skill or systems at their own discretion
The model isn’t perfect, but it is an opportunity to anyone that has real trading skill or access to systems that do.
Incomation simply provides the service to become a prop firm trader.
It’s a 2 tier affiliate system paying only on client services rendered and again the affiliate can sign up for free, no need to become a client.
As far as the history of the firms, while prop firms have been around for decades traditionally hiring and recruiting traders to manage funds, the virtual challenge is still a very new niche and model so many of the firms are within 2 years old.
And they can be registered in any jurisdiction, typically opting for places with supportive regulations like lower taxes.
I’m sure we can just agree to disagree at this point as we both have important things to do but thank you for the review and for being transparent with the discussion, I appreciate your intention to protect people.
Whether I do or not is irrelevant to Incomation and prop firms committing securities and commodities fraud.
Both securities and commodities are regulated the world over. You cannot operate legally whilst committing securities and/or commodities fraud.
This is why Incomation’s prop firms are a few months old and operated through shell companies incorporated in dodgy jurisdictions.
No. Incomation and its attached prop firms are committing securities and commodities fraud. That’s the due-diligence.
Honestly I was just being nice for your lack of understanding and your incorrect assumptions and allegations
I think at this point it’s important for our law team to get in touch to clear things up, because those are serious statements you are making saying what we are doing is illegal and defamation of our company and misleading people with incorrect information needs to be addressed.
No worries. And I’ll tell your legal team exactly what I’ve told you.
I’m sure old mate Mahmoud thought he was being clever too. We know how that worked out.
BehindMLM is littered with the graves of company owners who thought they were above the law.
Thanks Oz, I do appreciate where you’re coming from and many times you are correct.
Hassan, Eaconomy, and Auvoria that you’ve called out for being illegal are still very much alive and operational years later so I don’t know what else could prove your evidence as incorrect better than that.
Our system isn’t even comparable to those, considering we aren’t even using real funds with prop firm challenges.
But thanks again for the openness of dialogue and transparency, I do enjoy reading your reviews, and I’m honoured you were called to write about us in only our 2nd month of operations.
Eaconomy had ~50,000 visits to its website in April 2023. Up from 30K in Feb. For an MLM company that’s borderline RIP.
Auvoria Prime’s website traffic is so low SimilarWeb doesn’t even track it. RIP.
In any event, whether a company has (again) been shut down by regulators or not isn’t evidence of legality. That’s not how regulation works.
You’re running an MLM company selling a passive income opportunity attached to a forex trading bot. With respect to the Securities and Exchange Act and Commodities Act, it’s exactly the same.
Just curious, what would you accept as evidence of the contrary? What would satisfy your concern for legality with respect to the securities and commodities? And if provided would you update the review with the correct information?
Again to clarify, the client is paying a service fee not making an investment. And income generated is paid as services rendered, not returns on any investment.
I do intend to do everything possible to not only satisfy your concern, but also insure a long term system for all involved.
There is no “evidence to the contrary”. The Securities and Exchange Act and Commodities Act are law.
If you want to operate legally register with financial regulators and start filing audited financial reports.
Disclosures are another issue I didn’t really get into but your prop firms being recently set up shell companies run by anons is a potential violation of the FTC Act. All of this information needs to be disclosed to consumers.
Failure to disclose crucial information often comes up in securities/commodities fraud regulatory lawsuits too.
MLM + passive income opportunity = securities offering.
MLM + passive income opportunity + forex = commodities offering.
Call it whatever you want. I dump money into Incomation on the expectation of an advertised passive return.
Do you have an example Oz of any MLM that does have a registration with the Securities and Commodities?
Also Oz, could you please provide your social media profiles so that we can know you too. (Ozedit: derails removed)
Reading between the lines.
“Hey stranger! Wanna pay me $2000 to play a pointless non-refundable financial sandbox sim game?”
“Well…what if I told you it could make you lots and lots of money if you nudge nudge wink wink use it as financial advice? Gettit?? Passive income! But also not, if you’re a regulator reading this.”
“And since I’ve never claimed to be a financial advisor, if and when you lose all your money, it’ll be your fault for blindly trusting me. Plus I have your $2000, so thanks!
Authorities with years and years of experience uncovering financial scams and crimes will never be able to figure out what I’m up to.”
Investview comes to mind, although they aren’t as transparent about iGenius in their reporting to the SEC as they should be.
The vast majority of forex themed MLM companies are otherwise run like Incomation. Head honchos at the top that think they know securities and commodities law better than regulators.
Always falls apart when the SEC and/or CFTC come knocking. Just ask Mahmoud.
And BehindMLM doesn’t have any social media profiles. I get what you’re getting at. And you’d have a point if BehindMLM was soliciting funds from consumers on the promise of passive income.
But we’re not, so obvious derail is obvious.
Ok so basically nobody, got it.
Well I’m certainly open to being the first if it’s required
I reached out to a law firm specializing in Securities and Commodities and I reached out to the CFTC and NFA for further clarification
Thanks for bringing this to my attention, every owner of prop firms I have spoken with and regulated forex brokers as well as Metaquotes directly advised me that the most prop firms need to be licensed with them is financial activity on their Corporation registration depending on the jurisdiction.
Here is my email to NFA/CFTC and I’ll be sure to keep you and your community updated:
1. US government agencies don’t provide legal advice. I’d be surprised if you got a meaningful reply back but you might get lucky.
2. Incomation is marketing passive returns via forex. Incomation needs to be registered in the jurisdictions it solicits investment in.
I did note the prop firms seem to run their own schemes. They too need to be registered but that is beyond the scope of this Incomation review.
3. If you were being honest…
4. I suggest you go read Mahmoud’s CFTC complaint. It’ll either sink in or you’ll remain in denial.
1. If the government bodies themselves can’t tell me what I need to do, how can I expect some unknown person named Oz to give proper advice?
2. It’s very clearly a service fee on our side, to everyone except Oz apparently
3. I have been completely honest about exactly what it is and how it operates to everyone on every company call and to you and your community
4. I did reach out to Hassan for the connection to his legal team because clearly after 4 years running he hasn’t had any problems and despite your negative information and limited perspective he is operating a successful company with people all over the world that feed their families thanks to him taking risks everyday.
(Ozedit: derails removed)
They already have. The Commodities Act is publicly available.
I’m not giving you advice. I don’t personally care what you do either way but I will point out where you’re wrong when challenged.
I’ve reviewed Incomation and pointed out it’s committing securities and commodities fraud. This information is provided to consumers as part of BehindMLM’s regular publishing schedule.
Go read the CFTC’s complaint and Hassan’s settlement.
Last warning on derails. One more and spam-bin.
1) I’ll keep you posted on their response
2) I’m doing the same, pointing out where you are wrong as you started this challenge with limited information
3) Hassan settled a small fine of 75K in 2019 for being a consultant for a company who’s owner wasn’t operating properly as I mentioned before bad partnerships and trial and error in the beginning but since learnt how to operate on his own company and has had zero issues and millions of dollars in business, don’t you think he would be a prime target after that if he was doing anything wrong?
You didn’t read the complaint or the settlement.
Consultant my ass. Stop minimizing fraud.
Also, as previously stated, not getting shut down by regulators != legitimacy. That’s not how regulation works.
They consulted the company and very quickly the owner offered them positions because of how much they did, it was their first time with positions at a forex company.
That company was already operating for many years. They didn’t know how to run things as they were brand new to the industry.
Since then they’ve figured it out and had no problems.
The CFTC’s Complaint and Mahmoud’s settlement speaks for itself. Stop minimizing fraud.
It wasn’t. Mid 2018 to early 2019. I know this because I covered Silver Star Live from start to finish.
Eaconomy also commits commodities fraud – it’s the same business model and isn’t registered with the CFTC.
For the third-time, not getting shut down by regulators != legitimacy.
And I want to add if Eaconomy was all it’s cracked up to be, you wouldn’t have left. You realized running a forex scheme was where the money is and couldn’t give a toss about commodities law.
1) Fraud and being fined for not registering are very different, and then following the guidelines and not being fined again after you’ve been “red flagged” and “warned” are important to note
2) If you dig deeper you will find Silver Star was ran by Pete for many years before that, just because you pull a couple articles doesn’t make you an expert on the situation.
3) I never left anything, I just found prop firms to help because even if a good forex bot could do 5% hypothetically, if someone only has $1000 to risk that’s only $50.
People know that forex and crypto markets are risky, and only to use what they can afford to risk in any avenue. I don’t do anything I can’t take full responsibility of losing.
If you can’t do that, maybe you should stick to giving your money to the banks or do nothing at all. (That’s not financial advice) Even venture capitalists get involved with companies knowing 9 out of 10 will fail. But not everyone can handle being an entrepreneur or investor and that’s totally fine.
PS NFA got back to me and referred me to CFTC for an exemption letter, I’ll keep you posted, thanks for promoting us
Bottom line, just because you lack understanding, don’t have a law team to verify and don’t like to take any risk, doesn’t make something a fraud or a scam
Not in this instance. Mahmoud was fined for committing commodities fraud.
Silver Star Live as an MLM company launched in mid 2018 and collapsed in early 2019. Whatever happened before that is irrelevant.
BehindMLM has published thousands of articles covering fraudulent MLM opportunities. We’ve also tracked and reported on dozens of regulatory lawsuits pertaining to securities and commodities fraud.
Suffice to say you’re not doing anything new. MLM + passive income + forex falls under the Securities and Exchange Act and Commodities Act. This is well-established law.
You can’t disclaimer your way out of securities and commodities fraud.
yOu JuSt DoN’t UnDeRsTaNd is a cop out.
MLM + passive income via forex = register with the CFTC and SEC
Failure to do so = securities and commodities fraud.
With respect to due-diligence there is nothing to understand beyond that.
The release clearly states, fined for not registering, nothing to do with fraud.
I respect your experience Oz, what I’m saying is you can’t paint every situation with the same brush at first glance, law is very particular and case by case.
1) 2 tier affiliate program
2) Income on service contracts from prop firms
3) Demo trading
Bruh… not registering your MLM passive investment through forex is commodities fraud. Violating the Commodities Act = commodities fraud.
Which is why this review isn’t one sentence long. I’ve done the homework, Incomation is committing securities and commodities fraud.
I was inclined to do this, but glad behindmlm painted the picture for me.
Truth is that this is a very deceptive opportunity that really makes no sense. Why do they need my money if the money is so good with the bot trading for me?
Why don’t they just keep it to themselves and make all the money they want.
1) We don’t need your money
2) The bot is good
There is no deception here
Do your due diligence on proprietary trading firms, yes I could have stuck to just using the bot on my own accounts but that is limited so I decided to help other people out, please don’t participate if you don’t fully understand how it works.
Oz, happy to update we have officially filed for our securities and commodities license, becoming our own prop firm and brokerage.
We confirmed it’s not needed right now while we refer to other prop firms but you pushed me to become the firm and broker by getting our license so thank you.
I joined with Incomation recently and so far everything is flowing exactly as described. I chose in because Jamie seems genuine and the opportunity makes sense to me.
Is it a bit nerve wracking to join when results haven’t been proven yet? Yes. No different than investing in a start up company.
I expect certain delays will come up as kinks work out because it’s booming.
From what I’ve experienced and witnessed via the communication channels- Jamie and his team are handling things efficiently and professionally.
I’ve started a company up myself so I guess my life experience helps me to be understanding.
As for what’s been said in this piece… I read Jamie’s first couple responses back and forth and it’s enough for me to still feel good about it.
The author of this page has a clear attitude and is not responding to Jamie’s clear explanations. Maybe stubborn, maybe doesn’t understand.. idk.
But Jamie’s response is clear to me. I used to get naysayers in my business too; it was those who had faith that won with me.
Grateful to be winning with you Jamie. Thanks for the opportunity.
Note: all investments have risks. Never invest what you can’t afford to lose. Also, never be talked out of good things by fear mongerers. Trust yourself and make the decisions that make sense to you. <3
@Jamie Good luck with it.
Maybe the law is the law. Maybe Jamie isn’t the first cowboy to come along and pretend his passive investment opportunity isn’t a passive investment opportunity?
Maybe it’s Maybelline? idk either.
Kartra page is down, the Facebook group has users questioning if anybody has actually managed to receive a pay out from any of their associated prop firms (NSF, MDP, Nova) theres no confirmations.. not a good look.
Looks like Kartra gave them the boot and now it’s SamCart.
Pretty obvious why Kartra gave Incomation the boot. SamCart represents it is based out of the US. Wonder how long before they do due-diligence on their newest signup client too…
In be4 kArTrA cOuLdN’t HaNdLe OuR vOlUmE?
And of course Next Step Funded is already having problems:
Actually we built our system on Samcart 1 month ago because as we got going Kartra didn’t allow manual edits for things like payments in crypto, Samcart allowed us to have a custom affiliate tracking system and is much more robust.
I literally built the Kartra funnel on my own, as we needed to help people understand the whole process.
We simply had to upgrade our systems because it didn’t allow us to do everything we needed.
Also we have confirmed we don’t need custodian financial licensing for prop firm accounts and the brokers are the ones needing registration.
Because we are in the process of becoming our own firm and brokerage, we began the process of securities and commodities with our legal team for both myself personally and the company.
We have began receiving our first wave of payouts from the firms because we are only 2 months old and the process to get a payout from a firm takes 6-12 weeks.
We have created strong relationships and partnerships to have full transparency with our model in the space so we are supported by the firms we deal with.
Again Oz, straight from the legal team here is the distinction when it comes to prop firms vs forex brokers
Prop firm accounts use the firms capital
Forex brokers accept clients deposits
It’s a distinct difference
Nextstep 10Xd their company thanks to us, ofcourse upgrades were in order.
Samcart built our whole funnel with their internal team, we are not hiding anything from anyone.
I do appreciate where you’re coming from, but you do need to do some more research.
I’ll call bullshit on the move because the site was throwing up a Kartra 404 for a few days. From one website owner to another, that’s not planned migration.
MLM companies offering passive investment opportunities need to be registered with financial regulators. There are no exemptions in either the Securities and Exchange Act or Commodities Act.
Brokers having to or not having to register doesn’t affect Incomation’s regulatory requirements as the offerer of a securities offering to consumers.
On another note, can you please clarify what the difference is between an MLM, a 2 tier affiliate plan and a Sales Manager receiving an override from his sales representative in any traditional business model??
Commissions paid on more than one level = MLM.
Offtopic waffle = spambin.
You’re arguing disingenuously using false equivalence
Simple. Why aren’t you registered for offering securities?
No need to waffle about
I second OZ on calling out this as a planned migration.
At best this represents terrible operational planning, especially considering this is being hap hazardly cold swapped at the inception of service, perhaps you could argue inexperience to give the benefit of the doubt? But this isnt your first rodeo Jamie…
My money would be on these clowns being booted off the platform. No prior thought/planning to place a banner/landing page? Come on……
Just checked this guys facebook out (Jamie divine).
The only person I’ve ever seen make a mothers day post all about himself… What a bellend.
yOu Do NeEd To Do MoRe ReSeArCh!
Dear OZ you are doing great job helping people from scams.
Jamie devine looks also honest But personally one of my friend paid fee to incomation+ Firm nextstepfunded.
After one month withdrawal he didn’t received payouts he received email violation trades.
Now Jamie offering new firm MDP what I believe MDP is also not gonna pay to members.
Now he introduced new firm ANTT his close friends. Only affiliates are getting commission weekly. But not residual income.
I didn’t see single post of any member got payout from Firm. 1800++ people joined incomation. In a week he changed prices three times $500 to $2000.
He raised I think 1.5 million plus traveling to Florida.
Jamie devine if you are honest legit then prove that only 1000 members from 1600 get payouts number not exact may me more.
Refund all money to members or help them so they can get payouts.
online i saw this opportunity attended some webinars zoom.
feels good to earn 4 percent monthy with firms capital so i paid fee to mdp for 200k account and paid fee to incomation.
since 7 days i didnt recived my mdp login cardentials.
they started new website: (removed)
migrating all data from kartra to postaffiliatepro.
there is a purple chat he hired some people to fix issues. also they are not helping.
few days ago (jamie devine and only ollie gray these both were in Dubai enjoying dinner.
i can feel this ollie gray is a 50% business partner with jamie devine because every where he is responding actively to other team members also he has a lot of time to help others people definately he is partner.
now they have a event in Florida with leaders. my upline is also going to visit him.
moral story people are joining this opportunity because of monthly profits but still i can not see anyone got withdrawals.
after this i hope they will post specific leaders withdrawal from MDP or ANTT.
some leaders stop promoting this waiting for results. but new ones are still promoting this because they do not know.
jamie devine looks like honest or very smart i am still confused that he is honest to helping people or just rugging smartly.
@Jim, our new site was built weeks prior we just had a glitch with the domain forwarding that’s all, we’re also building out our own stand alone system now too but you might just say we got booted from Samcart at that point.
@Paul, it was a message from my mother to inspire everyone to go through adversity, like trying to help people and getting non stop hatred from people that don’t even know you or what you’re doing.
@Oz, Eaconomy has nothing to do with our model other than getting me interested in Forex bots, people aren’t using their own capital on our bots
@crypto, iour first firm we started out with wasn’t supportive of us but we’ve paid out of pocket to replace anyone’s account that was hurt by them and have multiple supportive options now.
@jake, this journey has definitely proven to be harder than expected operationally compared to when I was just running a few of my own accounts but rest assured we’ll continue to do everything we can to make it work for everyone.
We’ve had people starting to get withdrawals and we will continue to be transparent with the results but it is a long process of passing challenges and trading on the accounts within all of the rules and guidelines from firms plus waiting for the firms to process the payouts who are going through their own operations challenges
I do appreciate each and everyone’s feedback here, I never understood how hard it was to run a company of this size until we were already in it and I’m just really grateful we’ve got this far and assembled such a strong team to go through all of the hurdle’s because there is definitely a lot and will continue to be.
I didn’t bring it up because of that, I brought it up to demonstrate you are clueless about regulation. See comment #23.
Whether “people aren’t using their own capital on our bots” or not is irrelevant to Incomation offering a passive income opportunity and not being registered with financial regulators.
With all due respect Oz, I never said I was an expert on regulation, there’s too much to know and too many countries to handle. But we do have a strong law team now and are in the process with our first few countries.
I do appreciate your experience and helping me put attention on that because it’s a very important part of doing things right and building a strong system for everyone.
I’ll be putting a strong emphasis on regulation moving forward, keep in mind we’re only in our 3rd month and 3 months ago I couldn’t never imagined how many people would want our help on this.
The great thing about financial regulation, with respect to MLM companies, is that it’s the same the world over.
MLM + passive investment opportunity = securities offering.
MLM + passive investment opportunity through forex = commodities regulation kicks in.
With respect to being “an expert”, I don’t refer to myself as one either. That said, I’ve been reviewing MLM companies and covering MLM regulation for 13 years.
When someone tells me I’m wrong about MLM regulation I’m pretty familiar with at this point, I assume they consider themselves an expert.
When a financial regulator confirms otherwise, I’ll point it out with a side of popcorn.
Glad to hear you’re taking regulation seriously though. Probably want to stop working with dodgy recently created shell companies run by persons unknown as a start.
In addition to registration with financial regulators, disclosure to consumers is also part of financial regulation. There are currently zero disclosures about anything on Incomation’s website.
I appreciate there is many similarities I’m sure. I’m also confused about the MLM piece because many people telling me if we are only 2 levels it’s not legally MLM until 3 levels so I’ll need further clarification on that.
I can only imagine how fun your job is at that point, many of these people you report on deserve to be taken down I fully agree.
Never meant to imply you were wrong either by the way, I’m just relaying what I’m getting from the law teams because I’m definitely not a lawyer or have the capacity to know everything in that department.
I’ll put attention on getting the disclosures we need thanks for pointing that out.
Any chance you’re open to being our Chief Compliance Officer?
Haha we do seriously need someone to handle all the lawyers in all the different jurisdictions, it’s so important to differentiate ourselves so people know we have honest and pure intentions.
Ya it’s tough in the prop firm game to find a company more than a couple years old at the moment because the virtual challenge model is such a new space but we just made a huge partnership with ANTT because the owner has a strong background running a forex brokerage for 8 years and it’s a bonus we’ve been friends for over 4 years too so I trust him.
Seriously let me know about the compliance position it would be an honor to have you on the team in that department, you’re a total ninja with this stuff lol.
BehindMLM keeps me (too) busy. I enjoy running it and there’s obviously consumer demand for this level of published research and reporting.
Thanks for the offer though.
Most definitely, keep up the great work and let me know if you have a connection.
I’d highly appreciate a recommendation from someone with your level of experience.
@jamie divine every month new excuse with new firm
if you are legit then proove us here minimum 500 memebers get paid through firm MDP OR ANTT OR NEXTSTEP
1k plus members i believe 500 must should get paid through firms this month so they can get thier capital back with some profits
otherwise you are only making money
i know you are expert replying answers can handle 1000+ people on zoom with your magicians answers
moral of the story people should get back thier capital back
can you confirm me how many people get paid through firms since 2 months those joined incomation
focus on people results then you are honest
i can bet since end of june also members will not get profits from Antt or mdp
then you will start your own firm with all this money
you are a networker bonus is you are getting lots of people data als0 promoting yourself
you made millions
hahah members don’t need honesty and pure intentions + magic words
they need thier hard earned money they paid to you and firm back this month
error and tech issues and firm issues and trading issues every week and month not a honesty
lots of people are complaining thier trades are in minus i have lots of screen shot of people
mostly members trades are down minus
just Focus on people trades tell your team reply on time solve people issues instantly plus main point withdrawal from firm
i will reply end of june but i belive 100% nobody will gonna recieve only few people will recive withdrawals thats not performance also reply here smartly also not bring your intentions true come back here with results withdrawl lol
because if members will recieve payments then you need to pay to affilaites also 20% and 10% residual thats why every month excuse and error
i know you are world#1 guy who can handle everyone with your magicians hypnotics words you handle oz too lol
people those know hypnotics tricks can handle anyone for thier benefits