Updated: Registration fee of Tradera was increased from 99$ to 150$, Hence members started exiting the tradera platform to alternatives, which led to the Shutdown of the platform…Tradera has been shutdown.
Here’s an Alternative platform to Tradera
What is Tradera?
Tradera is a forex mlm company that was launched in December 2019 by Kody Sell and Eastan Harris. Tradera is also an academy that trains individuals on everything concerning forex trading, crypto, stocks and commodities tradera provides products such as forex education, trade alerts, market forecasts, live trading sessions, fundamental analysis, corporate events and of course a multi level marketing referral program.
Kody Sell is the CEO and Eastan Harris is the CFO. Both of them are 24 years old forex traders.
Apparently, these two ran a company called New Investments which was forex related since 2015, but I could not find much of a digital presence on this company.
According to their Tradera.org website on the “About Us” page, the company is located in Dallas, Texas, which is where Eastan resides.
Tradera’s website self describes as a Financial Firm that Specializes in Financial Services.
Speaking of their website, they did not put much consideration in to it. The design is atrocious, unprofessional looking and its a bit of an eyesore.
TRADERA PRODUCTS REVIEW:
In-depth training platform is designed to be completely comprehensive covering multiple asset classes and taking traders A – Z, from trading basics all the way through advanced institutional trading. The platform includes video training’s covering a vast scope of financial market education, many additional text resources to aid in comprehension, and quizzes / homework assignments designed to test members along the way.
Tradera provides trade alerts sent out by experienced traders. Each trade alert includes the stop loss, take profit, and management information.
Interactive trading webinars are hosted during the week with members covering short-term biases and trade ideas across all major financial instruments to assist members with their personal intraday trading. Live webinars are hosted for each of the major trading sessions including New York, Asian, and London.
Weekly market forecasts are sent out to all members. This is a recorded video from the CEO or CFO of the company breaking down the different trading instruments of interest for the week using technical, fundamental, and sentimental analysis.
Weekly fundamental analysis is provided to members. The analysis includes current economic data and important news that affect the major asset classes.
Tradera supposedly holds events designed to meet and pursue the company’s goals, vision, and mission. These events are focused on trading, leadership / marketing, networking, volunteering, etc. Not really a product though.
TRADERA COMPENSATION PLAN
To be an affiliate, also known as an IBO (Independent Business Owner), and earn from referring others, you need to pay a $15.00 fee every 28 days.
You will have to personally refer at least 3 people in order to earn from the compensation plan.
Referrals will be placed in one of your 3 legs under you.
In order to officially qualify for any rank in Tradera’s referral compensation program, they require that the IBO has a minimum of 55% of their downline members enrolled as pure retail customers. If a member has an IBO package, that member will not count as a retail customer.
The amount of money you earn will depend on your rank. To qualify for the ranks you need a certain amount of people in each of your 3 legs.
For example: For the Bishop Rank, you will need 75 total team members, with a minimum of 30 members or your left, leg, 30 members in your middle leg, and 15 members in your right leg, as per the chart above.
- Founder – maintain 3 active premium members on 3 legs. Gets you a free membership.
- Knight – maintain 4 active premium members on your first leg, 4 active premium members on your 2nd leg, and 2 active premium members on your 3rd leg. Pays $125 per week.
- Noble – maintain 10 active premium members on your first leg, 10 active premium members on your 2nd leg, and 5 active premium members on your 3rd leg. Pays $250 per week.
- Bishop – maintain 30 active premium members on your first leg, 30 active premium members on your 2nd leg, and 15 active premium members on your 3rd leg. Pays $500 per week.
- Duke/Duchess – maintain 100 active premium members on your first leg, 100 active premium members on your 2nd leg, and 50 active premium members on your 3rd leg. Pays $1,250 per week.
- Prince/Princess – maintain 200 active premium members on your first leg, 200 active premium members on your 2nd leg, and 100 active premium members on your 3rd leg. Pays $2,500 per week.
- King/Queen – maintain 400 active premium members on your first leg, 400 active premium members on your 2nd leg, and 200 active premium members on your 3rd leg. Pays $5,000 per week
- Emperor/Empress – maintain 1,000 active premium members on your first leg, 1,000 active premium members on your 2nd leg, and 500 active premium members on your 3rd leg. Pays $12,500 per week.
- Legend – maintain 2,000 active premium members on your first leg, 2,000 active premium members on your 2nd leg, and 1,000 active premium members on your 3rd leg. Pays $25,000 per week.
HOW MUCH DOES TRADERA COST TO JOIN?
- Affiliate Membership – The cost is $15.00 every 28 days.
- Customer Membership – The cost is $99.00 every 28 days.
- Premium Membership – The cost is $114.00 every 28 days (includes both affiliate and customer memberships)
How to join Tradera And Start Making Money
In order to start making money with Tradera, you will need to become an affiliate member.
There are 2 ways that you can join as an affiliate member, but the most lucrative game plan is to become a customer and an affiliate member with only 1 package level cost.
The membership cost will be monthly and has special incentives when joining as a customer and affiliate which is the most lucrative way to join.
You can find the cost to join Tradera below in my FAQ section.
In order to reach a higher rank in the company, you are required to maintain a monthly purchase on the Premium Membership.
The main aspect of increasing your rank in the company is by building a team, but this is a bit different than most of the traditional MLM companies that are out there.
Building a team consists of helping your team sponsor 3 people. By doing this, their monthly membership cost is free.
Also, if they are able to get there three people within 28 days they can get a $150 bonus.
**Update: the $150 dollar bonus for the Founder rank expired but it now does not matter if it takes you 1, 2, or on your 4th month to get your 3 personally recruited members, your Founder and your IBO monthly fee will be free.
Each rank is based on 3 legs that you will need to grow with more active affiliate members to qualify for a higher rank.
Building a team is very typical in any Network Marketing company’s compensation plan.
With that said, let’s breakdown each rank that the company offers and how to qualify for each one:
- Founder – To qualify for this rank, all you need to maintain 3 active members on 3 legs.
- Night – To qualify for this rank, maintain 4 active members on your first leg, 4 active members on your 2nd leg, and 2 active members on your 3rd leg.
- Knoble – To qualify for this rank, maintain 10 active members on your first leg, 10 active members on your 2nd leg, and 5 active members on your 3rd leg.
- Bishop – To qualify for this rank, maintain 30 active members on your first leg, 30 active members on your 2nd leg, and 15 active members on your 3rd leg.
- Duke/Duchess – To qualify for this rank, maintain 100 active members on your first leg, 100 active members on your 2nd leg, and 50 active members on your 3rd leg.
- Prince/Princess – To qualify for this rank, maintain 200 active members on your first leg, 200 active members on your 2nd leg, and 100 active members on your 3rd leg.
- King/Queen – To qualify for this rank, maintain 400 active members on your first leg, 400 active members on your 2nd leg, and 200 active members on your 3rd leg.
- Emperor/Empress – To qualify for this rank, maintain 1,000 active members on your first leg, 1,000 active members on your 2nd leg, and 500 active members on your 3rd leg.
- Legend – To qualify for this rank, maintain 2,000 active members on your first leg, 2,000 active premium members on your 2nd leg, and 1,000 active members on your 3rd leg.
Here is a compensation plan chart on how each rank qualification looks like:
One of the most exciting parts of the company is the referral compensation plan because of how powerfully profitable it is but also simple at the same time.
Now, some of the aspects of a traditional MLM compensation plan are not included with the Tradera comp plan, but the lack of these bonus commissions is made up by how much the compensation plan pays out in commissions in my opinion of course!
In the first part of earning referral commissions, you will want to recruit 3 members within 28 days.
3 And Free Bonus
When you do these 3 things happen, you will qualify for Founder rank, your monthly cost is free, and you will earn a $150 bonus. (that was a limited time bonus and not available anymore)
If you get your 3 personally recruited members after your first 28 days, you will still rank as a Founder, and your monthly membership will be free but you won’t earn that bonus.
The 3 and free is only for the Founder rank, but when you reach the next rank, you will earn more than enough to cover your monthly cost.
The residual commissions that Tradera offers are offered only when you increase your rank.
Each rank will give you a higher residual income and the increase is substantial.
Here is what you will earn based on rank:
- Founder – When you qualify for this rank you will earn a free monthly membership.
- Night – When you qualify for this rank, you will earn $125 per week.
- Knoble – When you qualify for this rank, you will earn $250 per week.
- Bishop – When you qualify for this rank, you will earn $500 per week.
- Duke/Duchess – When you qualify for this rank, you will earn $1250 per week.
- Prince/Princess – When you qualify for this rank, you will earn $2500 per week.
- King/Queen – When you qualify for this rank, you will earn $5000 per week.
- Emperor/Empress – When you qualify for this rank, you will earn $12500 per week.
- Legend – When you qualify for this rank, you will earn $25000 per week.
**How To Maximize The Comp Plan – “My Tradera PIF Strategy”
After you are able to recruit your 3 personally recruited members, I would start giving any new sign-ups that you get to the team members in your downline that need them to qualify for the “3 and it’s free” the first rank of Founder.
Because this company does not have a fast-start bonus and you make more money when your 3 legs grow deep.
It just makes sense to do it that way because when you help people get there 3, and your team members help their team members get there 3, no one is going to go anywhere and you will eventually grow a very large team.
As you can see above, a larger team that you have especially with this tactic fueling the production, the more money that you will earn on a monthly residual basis!
Because Tradera has forex education and signals that they chare with members as you can see in the products section above, you can start learning the skill of trading in the forex market to earn even more money.
That is all I got on how you can make money with the Tradera opportunity and how the compensation plan works.
It’s really simple and no hoops that I can see that you have to jump through.
Now, let’s continue to the next section and answer some questions.
My Tradera Forex FAQ Section
In this section of my review, I am going to answer some of the questions that people may have when thinking about joining Tradera.
Is Tradera Forex BBB Accredited?
No, at this time, Tradera is not BBB accredited.
Now, one of the things that most people are not aware of is that the Better Business Bureau is not a government-run or operated website.
What this means that the BBB website is actually a privately-owned site and it is actually not official.
So, when I do my recommendation in the last section of my review, I base that recommendation on ALL of the information that I was able to find on the company website and online.
I only can take the information at face value and from other trusted resources say and of course, my own judgment.
What’s The Cost To Join Tradera?
The minimum cost to join Tradera to become a client member is $99 to start and $99 every 28 days.
In order to take full advantage of what Tradera Forex offers, you will need to join add the $15 per month option to become an IBO after you get your 3 which is the client membership and the IBO membership.
Upgrading to the IBO option along with the Client membership will qualify you for the free monthly bonus and commissions when you reach the next ranks.
Here is what the cost breakdown is:
- Premium Membership – The cost for this membership is $114 every 28 days (includes both the IBO and Client memberships)
- Client Membership – The cost for this membership is $99 every 28 days. (this is what you will pay to start)
- IBO Membership – The cost for this membership is $15 every 28 days.
Another thing that is interesting and also what I really liked when researching for my Tradera review is that there are no other packages that you need to purchase or upgrade to make more money with their comp plan.
Additionally, by getting just 3 people on your first level, your monthly cost is free which is a great thing!
Is Tradera Legit Or A Scam?
No, Tradera is not a scam.
The company offers everything they need in order to be in compliance with the MLM laws in the US.
They have a great service product and an awesome compensation plan that does take work but is easy to understand and is fair.
The owners are transparent and they have webinars with a question and answer session now.
With that said, let’s finish up.
Want to join My Tradera Team?
I have put up a whatsapp group to build a successful team of tradera marketers and investors, with this group you get to meet other Imers and Trade your ideas.
TRADERA BOTTOM LINE:
While Tradera is not quite a scam, but it is a forex MLM, which I don’t really recommend. Forex trading is extremely risky and most retail traders always lose their money. I’ve personally seen people lose tens of thousands of dollars in forex trading.
In Tradera, you should know when to buy, when to sell and when not to do nothing.
Trading forex, isn’t easy, it takes years and years of experience to be successful in forex trading, and even the best traders in the world can and do lose money.
Currency trading is not an easy way of making money.
It is extremely difficult to be consistently profitable, even for professional forex traders.
You have to have a reasonable amount of capital to invest in the Forex market.
You can not become rich through growing a $500, $1000 or even a $10,000 account.
Tradera affiliates will also have to be very careful in their marketing as well, many are using false marketing claims and results claims in their misleading marketing tactics. This can put them in a bad position, with complaints to the BBB and the FTC. This can also lead to investigations, all sorts of legal troubles and eventually being shut down.
Paying member retention will be an issue. Since 99% of members will lose money as most retail traders do, they will stop paying the monthly fees and quit.