My first inkling that something was up with Silverstar Live was their citing of “Quicksilver” as Chief Operating Officer.

Quicksilver… really?

Turns out someone else has a bit of an axe to grind with “Quicksilver”, going so far as to out him as David Wayne Myer.

There’s a “The Real Quicksilver” website set up that goes into more detail. I’m not going to link it because it gets into murky territory by posting Myer’s address information and family connections.

On Silverstar Builder, another website that appears to be tied to Silverstar Live, Myer is identified as a co-owner and Master Trader of the company.

The two other co-owners of Silverstar Live are identified as Candace Ross-Mahmoud (President) and Hassan Mahmoud (Executive Vice President).

In their respective Silverstar Live corporate bios, Myer is credited as

a career expert trader with 18 years experience.

For 16 consecutive years he has tripled his private trading account in the futures and Nadex market.

Candace Ross has been a top tier Marketing Strategist & Consultant in the network and affiliate marketing space for the last 6 years.

She is a self-taught internet marketer who has created multiple 7 figure sales systems and is frequently sought out to assist in the growth of corporate businesses.

Hassan Mahmoud is an international Omnipreneur & Keynote Speaker who is highly sought out by the millennial community to work with and to work on passion projects all over the world.

He has done over 250 million in sales over the past 4 years while helping multiple business owners grow their names and brands.

So uh, David Myer has supposedly generated a 300% annual ROI through trading for the past sixteen consecutive years huh?

You’d think there’d be some recognition of this outside of Silverstar Live but nope, nothing outside of Silverstar Live’s own marketing material.

So some guy nobody has ever heard of is one of the greatest and most consistent traders on the planet. Riiiiiiiiiight.

Prior to launching Silverstar Live, Candace Ross and Hassan Mahmoud were promoting Enagic.

A corporate address in Florida is provided on the Silverstar Live website. The address however appears to belong to a warehouse storage facility.

Read on for a full review of the Silverstar Live MLM opportunity.

Silverstar Live Products

Silverstar Live markets a forex autotrading bot.

We have software which specializes in automated Forex trading.

Our software does the work for you so that you can spend your time doing whatever you want.

Our software relies on algorithms with a proven track record of realizing gains based on performance to date.

Silverstar Live’s website fails to disclose any specifics of their auto trading bot, including retail pricing.

Silverstar Live’s compensation plan reveals access to the auto trading bot costs $199 and then $145 a month.

The Silverstar Live Compensation Plan

SilverStar Live’s compensation plan revolves around retail customers and affiliates paying $199 and then $145 a month to access the auto trading forex bot.

Silverstar Live Affiliate Ranks

There are twelve affiliate ranks within the Silverstar Live compensation plan.

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

  • Icon150 – generate 435 GV a month and enroll/recruit and maintain three fee-paying retail customers and/or affiliates
  • Icon600 – generate 1740 GV a month and generate and maintain a downline of twelve fee-paying retail customers and/or affiliates split 4/4/4
  • Icon1500 – generate 5075 GV a month and generate and maintain a downline of thirty-five fee-paying retail customers and/or affiliates split 10/10/15
  • Icon3000 – generate 13,050 GV a month and generate and maintain a downline of ninety fee-paying retail customers and/or affiliates split 30/30/30 (three of the retail customers and/or affiliates must have three retail customers and/or affiliates under them)
  • Icon5000 – generate 36,250 GV a month, recruit and generate and maintain a downline of at least two Icon600 affiliates and generate and maintain a downline of two hundred and fifty fee-paying retail customers and/or affiliates split 100/100/50
  • Icon10 – generate 72,500 GV a month, recruit and maintain at least two Icon1500 affiliates and generate and maintain a downline of five hundred fee-paying retail customers and/or affiliates split 200/200/100
  • Mogul25 – generate 181,250 GV a month, recruit and maintain at least two Icon3000 affiliates and generate and maintain a downline of one thousand two hundred and fifty fee-paying retail customers and/or affiliates split 500/500/250
  • Mogul50 – generate 362,500 GV a month, recruit and maintain at least two Icon5000 affiliates and generate and maintain a downline of two thousand five hundred fee-paying retail customers and/or affiliates split 1000/1000/500
  • Mogul100 – generate 725,000 GV a month, recruit and maintain at least two Icon10 affiliates and generate and maintain a downline of five thousand fee-paying retail customers and/or affiliates split 2000/2000/1000
  • Gold Star – generate 2,175,000 GV a month, recruit and maintain at least two Mogul25 affiliates and generate and maintain a downline of fifteen thousand fee-paying retail customers and/or affiliates split 6000/6000/3000
  • Silver Star – generate 4,350,000 GV a month, recruit and maintain at least two Mogul50 affiliates and generate and maintain a downline of thirty thousand fee-paying retail customers and/or affiliates split 12,000/12,000/6000
  • Legend – generate 8,700,000 GV a month, recruit and maintain at least two Mogul100 affiliates and generate and maintain a downline of sixty thousand fee-paying retail customers and/or affiliates split 24,000/24,000/12,000

GV stands for “Group Volume” and is sales volume generated via monthly fee payments to access Silverstar Live’s forex trading bot.

One $199/$145 a month subscription generates 145 GV a month.

Note that for rank qualification, 55% of monthly downline GV must come from retail customers.

If GV generated in a recruitment leg is less than 55%, GV is still counted from that leg but capped using a 55%/45% ratio applied to whatever retail volume is generated in that leg.

With respect to the downline split, the figures provided are the maximum amounts counted from any three recruitment legs.

A recruitment leg is a downline built under a personally recruited affiliate. It contains retail customers and recruited affiliates, down a theoretically infinite number of levels.

E.g. for Icon3000, an affiliate can either qualify via 30 fee-paying retail customers/affiliates across three recruitment legs, or lesser amounts over a greater number of recruitment legs.

Retail Commissions

For each $199 fee paid by a new retail customer or recruited affiliate, a $40 one-time commission is paid out.

Residual Commissions

Silverstar Live pays residual commissions via a 3×9 matrix.

A 3×9 matrix places a Silverstar Live affiliate at the top of a matrix, with three positions directly under them:

These three positions form the first level of the matrix. The second level of the matrix is generated by splitting each of these first three positions into another three positions each (9 positions).

Levels three to nine of the matrix are generated in the same manner, with each new level housing three times as many positions as the previous level.

Positions in the matrix are filled via enrollment of retail customers, some of which will go on to become Silverstar Live affiliates.

Silverstar Live pays a residual $3 commission per matrix position filled.

How many matrix levels a Silverstar Live affiliate can earn on is determined by how many personally enrolled retail customers and/or affiliates they have.

  • enroll and/or recruit at least three retail customers and/or affiliates and earn on level 1 of the matrix
  • enroll and/or recruit at least four retail customers and/or affiliates and earn on levels 1 and 2 of the matrix
  • enroll and/or recruit at least five retail customers and/or affiliates and earn on levels 1 to 3 of the matrix
  • enroll and/or recruit at least six retail customers and/or affiliates and earn on levels 1 to 4 of the matrix
  • enroll and/or recruit at least seven retail customers and/or affiliates and earn on levels 1 to 5 of the matrix
  • enroll and/or recruit at least eight retail customers and/or affiliates and earn on levels 1 to 6 of the matrix
  • enroll and/or recruit at least nine retail customers and/or affiliates and earn on levels 1 to 7 of the matrix
  • enroll and/or recruit at least ten retail customers and/or affiliates and earn on levels 1 to 8 of the matrix
  • enroll and/or recruit at least eleven retail customers and/or affiliates and earn on levels 1 to 9 of the matrix

Generational Bonus

Silverstar Live pays a Generational Bonus 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.

The Generational Bonus allows Gold Star and higher ranked Silverstar Live affiliates to earn on generated volume, starting from the tenth level of their unilevel team.

  • Gold Star affiliates receive 2% of generated volume from the tenth level of their unilevel team, capped when another Gold Star or higher ranked affiliate is found in each unilevel team leg
  • Silver Star affiliates receive 2% of generated volume from the eleventh level of their unilevel team, capped when another Silver Star or higher ranked affiliate is found in each unilevel team leg
  • Legend affiliates receive 2% of generated volume from the twelfth level of their unilevel team, capped when another Legend affiliate is found in each unilevel team leg

Note that if no equal or higher ranked affiliate exists in a unilevel leg, the Generational Bonus pays out on all levels of that unilevel leg.

The Generational Bonus is calculated on each unilevel leg.

How many unilevel team levels the Generational Bonus is paid out on one unilevel team leg has no bearing on Generational Bonus payouts on other legs.

Weekly Guaranteed Commissions

Silverstar Live pays weekly guaranteed commissions based on rank:

  • Icon150 = $37.50 a week
  • Icon600 = $150 a week
  • Icon1500 = $375 a week
  • Icon3000 = $750 a week
  • Icon5000 = $1250 a week
  • Icon10 = $2500 a week
  • Mogul25 = $6250 a week
  • Mogul50 = $12,500 a week
  • Mogul100 = $25,000 a week
  • Gold Star = $62,500 a week
  • Silver Star = $125,000 a week
  • Legend = $250,000 a week

Joining Silverstar Live

SilverStar Live affiliates have to sign up as retail customers first. This costs $199 and then $145 a month.

After enrolling three retail customers of their own, a Silverstar Live retail customer can pay an annual fee to become an affiliate.

Silverstar Live affiliate fee costs are not disclosed on the company’s website. 

I did try to ascertain the Silverstar Live affiliate fee amount independently but was unsuccessful.

Conclusion

On the surface the MLM side of Silverstar Live looks legitimate.

Get retail customers before paying the affiliate fee, 55% total retail GV and yeah, provided the product isn’t total garbage you’ve laid the foundation for a solid retail-focused MLM opportunity.

The problem with Silverstar Live however is everything else.

Let’s start with Quicksilver.

One reason David Myer might not want to use his actual name are the multiple felonies he’s reportedly committed.

Of Myer’s convictions (some of which cite him as “David Wayne Mayer”), the one that caught my attention was a 2009 credit card violation.

Myer was charged in February 2011 and convicted in August the same year.

Now why would someone who’s purportedly been generating an annual 300% ROI for the past sixteen years commit credit card fraud?

And there are plenty of other seemingly bullshit marketing claims surrounding Myer…

93rd highest IQ? Traded billions at the second largest hedge fund in New York? Created the world’s first AI powered software?!?

Then why, outside of his felony convictions, has nobody ever heard of David Myer?

And this is the guy that is supposedly behind Silverstar Live’s automated trading forex bot?

QS worked for the second largest hedge fund in New York and was responsible for trading accounts of hundreds of millions in the futures market over the course of 6 years.

He has applied his genius to create algorithms that mimic live trading and can be safely run almost completely hands free.

Hopefully it’s obvious by now that Myer coming up with Silverstar Live’s trading bot is extremely questionable.

But let’s leave that and instead focus on the legalities.

Quite clearly, Silverstar Live is marketing passive returns through their forex trading bot.

Ones [sic] your SLS software is activated it trades for you.

The above is taken directly from the Silverstar Live website. And if you’re still not satisfied, there are plenty more examples to draw from;

The offering of an automated (passive) return by an MLM company, regardless of the platform used, is a securities offering.

To operate legally in the US Silverstar Live would therefore need to be registered with the SEC.

At the time of publication neither Silverstar Live, David Wayne Myer or David Wayne Mayer are registered with the SEC.

Hell, I even looked up Quicksilver, no luck with that either.

This means that, forget about anything else, Silverstar Live is operating illegally across the US.

Which is a problem, because as I write this Alexa have the US pegged as the largest source of traffic to the Silverstar Live website (51.9%).

In addition to the automated forex trading bot unregistered securities offering, Silverstar Live is also committing securities fraud by failing to disclose particulars of its trading offering.

It is implied that David Myer came up with the Silverstar Live’s bot.

This isn’t good enough, with full disclosure of who created and runs the bot required to be disclosed by Silverstar Live to potential investors.

Additionally the company also needs to provide explicit historical results.

From my own research I recorded promotion of SilverStar Live dating as far back as August 2018. That’s six months of trading data that should be readily available for anyone on Silverstar Live’s website.

So why isn’t it?

All I’ve seen is grainy screen grabs of trading graphs and supposed trades, which is nowhere near what is required for compliance with US securities law.

As a prospective Silverstar Live retail customer (or affiliate), I wouldn’t be handing over any money unless the company provides historical trade data dating back to at least August 2018.

If you want to be thorough, ask for David Myer’s past eighteen year trade history results. Actual results mind, not some bullshit bar graphs or number printouts dug up from who knows where and showing who knows what.

If you do manage to get something that resembles this, be sure to ask why it isn’t filed with the SEC.

Personally I’m doubtful this information even exists.

First and foremost if Silverstar Live’s bot was all it’s cracked up to be, David Myer would be guarding it as you would any other golden goose.

Does $199 and then $145 a month sound right for a golden goose to you?

Secondly if the bot was even remotely successful, why aren’t the historical results being trumpeted anywhere?

It’s a bot that’s supposed to make money. If it’s doing that then why not let the bot speak for itself.

Why is every Silverstar Live marketing presentation full of trashcan “herp derp do u no wut forex is?” bullshit?

Raising even more questions is the emergence of AI Global Forex in the last few weeks.

AI Global Forex is essentially a 1:1 clone of Silverstar Live. Such to the extent that when you click on the AI Global Forex compensation document link, it’s literally that of Silverstar Live’s.

Then there’s this message buried in the footer of the AI Global Forex website;

AIGlobalForex.com is operated by the Market Hackers Community, a group of independent IBOs of AI Global Markets formerly known as Silver Star Live.

I don’t know exactly what scam nonsense is going on here but as far as I can tell, Silverstar Live and AI Global Forex are one and the same company.

Just to really drive a point home, at approximately three minutes into the above January 20th, 2019 video, David Myer states this about Silverstar Live’s forex bot;

I can tell you firsthand that if you have a $25,000 account, the average return on a $25,000 account is somewhere in the 8% per month range.

On $5000 accounts the average return is about 30% per month.

30% automated monthly returns… from a convicted fraudster… with no verifiable historical result data… on top of multiple securities fraud violations…

…gee gosh golly that sounds swell. Where do I sign up?