SofTrade AI Review: 2% to 4% daily ROI forex trading Ponzi
SoftTrade AI provides no information on their website about who owns or runs the business.
SofTrade AI’s marketing videos feature someone they’re calling “Ryan Baines”.
No verifiable information on Baines exists anywhere on the internet.
A Facebook profile for Baines, on which it is claimed he’s SofTrade AI’s CEO, was created about a week ago on January 13th.
The likely actor playing Baines has a distinctly European accent.
SoftTrade AI’s website domain (“softradeai.com”) was registered on December 14th, 2018.
Ali Jawad Rana of Server4Sale is listed as the owner, through a suite address in Ontario Canada.
Of note is this address differs to the UK one provided on SofTrade AI’s website.
In the company’s website FAQ, SofTrade AI claims it’s “incorporated in the UK”.
UK incorporation is dirt cheap and for the most part unregulated.
It is a favored jurisdiction for scammers looking to incorporate dodgy companies.
Server4Sale are a web hosting provider based out of Pakistan.
Whether this means Server4Sale is behind SofTrade AI or they’re working for a client in Pakistan is unclear.
At the time of publication Alexa cites Bangladesh (21%), Russia (12%) and Vietnam (5%) as top sources of traffic to SofTrade AI’s website.
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.
SofTrade AI’s Products
SofTrade AI has no retailable products or services, with affiliates only able to market SofTrade AI affiliate membership itself.
SofTrade AI’s Compensation Plan
SofTrade AI affiliates invest $25 to $100,000 on the promise of an advertised 2% to 4% daily ROI.
- invest $25 or more and receive a 2% daily ROI for 35 days
- invest $100 or more and receive a 3% daily ROI for 35 days
- invest $500 or more and receive a 4% daily ROI for 35 days
Referral commissions on invested funds are paid out 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.
SofTrade AI caps payable unilevel team levels at four.
Referral commissions are paid out as a percentage of invested funds across these levels as follows:
- level 1 (personally recruited affiliates) – 7%
- levels 2 and 3 – 2%
- level 4 – 1%
Increased Referral Commission Rates
SofTrade AI affiliates can increase their referral commission rates by qualifying at the following ranks:
- Representative (generate $5000 in downline investment) – 9% on level 1, 2% on levels 2 and 3 and 1% on level 4
- VIP Representative (generate $10,000 in downline investment) – 10% on level 1, 2% on levels 2 and 3 and 1% on level 4
- Elite Representative (generate $25,000 in downline investment) – 11% on level 1, 2% on levels 2 and 3 and 1% on level 4
Joining SofTrade AI
SofTrade AI affiliate membership is free.
Full participation in the attached income opportunity requires a minimum $25 investment.
SofTrade AI pitches itself as an “Artificial Intelligence Asset Management Company”.
The company claims to generate external ROI revenue via
different types of advance AI software tools to trade in the Forex markets (that) generate risk-free profits for our clients.
No evidence of any trading is provided. Nor is there any evidence of external revenue of any kind actually being used to pay SofTrade AI returns.
Being a passive investment opportunity, SoftTrade AI constitutes a securities offering.
On their website, SofTrade AI blatantly lies about being registered to offer securities in the UK.
The company is licensed to carry out commercial transactions around the world.
It provides financial reports in accordance with the established rules in the UK.
Securities in the UK are regulated by the FCA. As I write this, SofTrade AI are not registered with the FCA.
Nor is there any indication the company is registered with financial regulators anywhere else in the world.
This means that SofTrade AI are operating illegally worldwide.
Why would an MLM company with a legitimate bot opt to operate illegally?
Simple. There is there is no bot.
SofTrade AI lies about where it is based out of. Lies about its CEO. Lies about external revenue and lies about being registered with financial regulators.
Nothing about the company is legitimate, including its returns.
As with all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This will starve SofTrade AI of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money.
Update 25th February 2020 – SofTrade AI’s fake CEO Ryan Baines has been outed as Fiverr actor Marko Stevic.
Update 16th April 2020 – As of the week beginning April 13th, SofTrade AI has collapsed.