Speed Finance Club provides no information on their website about who owns or runs the company.

In fact as I write this, Speed Finance Club’s website is nothing more than an affiliate login form.

Speed Finance Club’s website domain (“speedfinance.app”) was privately registered on June 30th, 2021.

Speed Finance Club’s website defaults to English but the company’s corporate documents are in Portuguese.

Speed Finance Club’s Terms and Conditions document was authored by Fram Baga in December 2020.

Looking at the source-code of Speed Finance Club’s signup page, one can see a number of assets, including the terms and conditions document, are hosted on the domain “nocookie.top”.

The NoCookie domain was privately registered in 2019, through an incomplete address in Brazil.

Hosted on the NoCookie domain is a compensation document for “EcoTrade”.

EcoTrade is a Ponzi scheme promising returns of up to 3% a day.

Based on videos posted to EcoTrade’s official Facebook group, the company is run by these two individuals:

I wasn’t able to identify the men but “Tendencia Trading” on the left led me to a YouTube channel of the same name.

There we find an EcoTrade August 25th stream featuring four individuals:

Again, likely due to language-barriers, I’ve been unable to put names to faces.

EcoTrade’s official Facebook page is managed by five individuals, four of which are in the Dominican Republic and one in Venezuela.

In any event, it seems we have a team of serial scammers who, circa June 2021 launched two passive investment opportunities.

To see what these gentlemen were up to prior to June, we turn to Speed Finance Club’s linked terms and conditions.

What you’ll notice is the T&C don’t even mention Speed Finance Club. This is the terms and conditions document for “EV+ Evolution”.

EV+ Evolution operates from “office.evmais.bet” and appears to be the precursor to both Speed Finance Club and EcoTrade.

Evmais’ website domain was privately registered in December 2020.

As per the company’s social media channels, Evmais operated out of Rio Grande do Sul in Brazil.

Evmais affiliates invested amounts in green on the left, on the promise of advertised returns in white on the right.

Web traffic is non-existent to Evmais’ website so it appears to have collapsed. The last post on Evmais’ Instagram account is dated February 1st.

Putting all of this together we surmise:

  1. Evmais Ponzi scheme launches on or around December 2020.
  2. Evmais collapsed on or around February 2021.
  3. Tendencia Trading YouTube channel created in March 2021.
  4. Scammers begin preparing Speed Finance Club and EcoTrade reboots.
  5. Speed Finance Club and EcoTrade launch side by side in late June 2021.
  6. Everything links back to the Tendencia Trading YouTube channel.
  7. Scammers from Brazil, the Dominican Republic and Venezuela appear to be involved.

Read on for a full review of Speed Finance Club’s MLM opportunity.

Speed Finance Club’s Products

Speed Finance Club has no retailable products or services.

Speed Finance Club affiliates are only able to market Speed Finance Club affiliate membership itself.

Speed Finance Club’s Compensation Plan

Speed Finance Club affiliates invest $100 to $10,000 on the promise of a daily 3% ROI, paid for 60 days.

Investment tiers in Speed Finance Club are:

  • $100
  • $250
  • $500
  • $1000
  • $2000
  • $5000 and
  • $10,000

Referral Commissions

Speed Finance Club pays referral commissions 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.

Speed Finance Club caps payable unilevel team levels at six.

Commissions are paid as a percentage of funds invested across these six levels as follows:

  • level 1 (personally recruited affiliates) – 15%
  • level 2 – 11%
  • level 3 – 10%
  • levels 4 and 5 – 2%
  • level 6 – 1%

Withdrawal Commissions

Speed Finance Club pays a commission when affiliates on levels 1 and 2 of the unilevel team put in a withdrawal request.

  • level 1 – 3%
  • level 2 – 1.5%

Joining Speed Finance Club

Speed Finance Club affiliate membership is $10 plus a $100 to $10,000 initial investment.

Conclusion

Muddy origins aside, Speed Finance Club is a low-effort Ponzi scheme.

Affiliates invest funds, Speed Finance Club promises ridiculous returns and pays said returns with subsequently invested funds.

The scammers behind the scheme don’t really seem to know what they’re doing. Elmais was quickly abandoned and nobody cleaned up the mess.

Instead they rebooted their app script and doubled down with two new Ponzi schemes.

One is tied to their public-facing YouTube channel. The other is low-key spread on social media.

As with Elmais, once withdrawals strip invested funds Speed Finance Club will collapse.

There’ll probably be some commingling of funds between Speed Finance Club and EcoTrade until both reach critical mass.

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