Forex for a trader
Forex mlm companies 2016

Forex mlm companies 2016Please complete the security check to access bestcompany. com. Why do I have to complete a CAPTCHA? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. What can I do to prevent this in the future? If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Cloudflare Ray ID: 4501a63393bd8261 • Your IP : 193.0.218.8 • Performance & security by Cloudflare. iMarketsLive Appoints Alex Morton As Vice President Sales. iMarketsLive , a Forex education platform dedicated to teaching people how to trade forex and futures to a global audience, is excited to announce Alex Morton as their new Executive Vice President of Sales. Alex has had a very distinguished career in the Network Marketing industry, breaking company records, generating significant revenue increases, & causing intense enthusiasm & passion in the sales force. Alex pioneered a “Millennial Movement” within those companies. This caused an industry wide phenomenon where the majority of companies attempted to crack the code on the Millennial Generation. Alex is a best-selling author penning two books on personal development. He also is a transformational speaker, transforming tens of thousands of lives across the globe. He is very excited to team up with the CEO of iMarketsLive, Christopher Terry , and impact people all over the world using the iMarketsLive trading products and services. “We are very excited that Alex has chosen to work with iMarketsLive, he is very dynamic, professional, and has a drive for success that is unparalleled.

Alex is a huge asset to our company and he loves that our business model allows everyone to achieve success just by using our educational services!” About iMarketsLive. iMarketsLive provides a full array of retail trading products and services to a global audience for those who want to participate in the Forex & Futures Markets. iMarketsLive’s services include a Live Educational Services, Hands Free Mirror Trading as well as a Robotic Trade Scanner and other amazing services. iMarketsLive has a bundled their productsservices with a Network Marketing compensation plan that allows its IBO’s to earn a generous income by simply sharing their services with others and building a residual income though building a network of IBO’s and customers. For more information please visit imarketslive. com. Want to read the 12 reviews on iMarketslive? Click here for iMarketslive Review! Is iMarketsLive just another financial scam? (review) iMarketsLive is a network marketing company founded in 2013 that offers financial trading software with an affiliate program. An MLM with a product that generates its own income? It’s not quite Wealth Generators or My Paying Ads, but it’s not too far off. The trading software might be legit, but if you’re just looking into this company for the business opportunity, there’s better options out there to make money from your laptop. Either way, here’s the full review on iMarketsLive, the company.

Overview. iMarketsLive officially launched in July of 2013, and they’ve gathered up a significant amount of buzz and company growth in the past few years. They’ve already got a customer base of 55,000 people operating in over 120 countries worldwide. The NYC-based MLM is founded and led by Chris Terry, who beforehand hadn’t made much of a name for himself, but is certainly starting to now. He dabbled in network marketing, even working for Amway a few years in the 90s, but doesn’t seem to have had extensive experience in the industry before launching iMarketsLive. However, iMarketsLive combines Forex trading with network marketing, and Terry does have experience in trading. He claims to be a multiple 8-figure trader with 18 years of experience. 1 According to an interview he did recently, he really wants to focus the company on customer acquisition, making sure that they’re running on a sustainable long-term model and that they’re “primarily a customer base business with a network marketing model attached to it”. 2 If that’s true, it’s refreshing, considering how many MLMs are so obvious about focusing almost exclusively on the network marketing aspect of their company and not at all about the productcustomer. Considering the founder’s primary experience is in the industry of their product and not in network marketing, there’s a chance he’s not just bluffing. Just last month, the company also announced Alex Morton as their new Vice President of Sales. The guy’s a network marketing prodigy who’s not only been very successful in the industry, but he pretty much founded the “Millennial Movement” that got MLMs to start targeting young folks better before their entire member-base dies out because they’re all baby boomers (ahem, looking at you Avon). 3 Knowing how to target millennials is one of the most important things any MLM can learn (see the full MLM rankings), so this is good news for iMarketsLive. How much does iMarketsLive cost? You can join as an IBO or a Customer. To become an IBO, you only have to pay a $15 start-up fee and a $15 monthly membership fee. Super cheap.

You get the right to share their products and partake in part of the compensation plan. To become a Customer, you need to purchase the Platinum Package. This has a start-up cost of $195 and a monthly membership fee of $145 and generates 145 in Group Volume per month. Huge difference in cost. One is one of the cheapest I’ve seen, and the other is unreasonably expensive. Of course, to access the majority of the plan and make any real money, you need to buy into the Platinum Package. Products. The “product” at iMarketsLive is financial trading software that they claim is worth thousands and thousands of dollars for its ability to make you money. iMarketsLive offers four different components to their package. FX Signals Live is a hands free trading service that allows you to set it and forget it. Basically, the program claims to mirror the trades of their experts so that you don’t even have to worry about doing any trading at all. Live Training Room is a live webinar program where you can watch CEO Chris Terry, a “master trader”, make trades and learn from his prowess. Harmonic Scanner is a program that will identify and explain patterns in the FOREX market to help you understand and identify good trading opportunities. Training Education is iMarketsLive’s proprietary trading education that’s filled with a library of videos, webinars, and articles for you to learn more whenever you want. This is another MLM with a vague, shady product for two reasons: There’s no differentiation between customer and representative. The product and right to be an affiliate are in one package.

The product is already available for free at other places. It’s not hard to find financial trading software that does exactly what these programs do (perhaps even better) for free. That’s because they make their money by charging a percentage of your winnings. The only part of the product that is at all unique from free programs is access to webinars from their CEO, but there’s not even any solid proof that he’s any more skilled and knowledgeable at FOREX trading than experts you could access for far, far less than $145 per month. Compensation Plan. New Affiliates start out with a pretty generous fast start bonus that pays 4 levels down in recruitment: Level 1 (personally sponsored Affiliates): 30% Level 2: 10% Level 3: 10% Level 4: 10% After that, residual commission are paid out in a 3?8 matrix. Basically, you get three branches in your Level 1 (personally sponsored Affiliates), and each of those gets three branches, and so on down to 8 levels. You get 8% of each Affiliate’s monthly membership fees in your downline. However, you don’t get access to all 8 levels at once. You have to move up in rank to access more levels. In order to unlock all 8 levels, you’d need to recruit 12 Affiliates. They also have a few other weekly bonuses, such as a Platinum Bonus (a one-time $5-$35 for each Platinum Package you sell) and a Chairman Infinity Bonus ($1,000-$40,000, but you have to be ridiculously high in rank to even be eligible). The compensation plan is decent enough, but the monthly membership fees are pretty high. They’d be more than worth it if this was an investment you actually saw a return on, but FOREX trading is extremely complex and very, very high risk.

Even the Forex Live website is littered in warnings about how risky it is. 4 Basically, it’s not for beginners, and certainly not for people who want to “set it and forget it” with some app. What’s more, it’s clear that the focus here is on the network marketing portion of the company and NOT on customer acquisition, as the CEO claimed. All of their customers are also Affiliates, and there’s no differentiation between the two. I’d be willing to bet that the only people making decent money in this company are making it off membership fees in their downline. Look, I’ve been involved with network marketing for over ten years so I know what to look for when considering a new opportunity and iMarketsLive has some red flags. After reviewing 200+ business opportunities and systems out there, here is the one I would recommend: 19 Popular MLM Scams In Malaysia That You Should Beware Of. We apologize in advance for any misrepresentation in regards to the information listed here. Information for this piece is sourced from drazwan. blogspot. my and belongs to the third party’s opinion. We’d like to note that this content is not comprehensive. If there’s any info we’ve missed or should attend to, please let us know at email protected! There is nothing more annoying than listening to someone pitch their MLM to you, often times a product they don’t even really use or they are forced to use it because of the continuity aspect of the program. Every MLM members are hustlers as you are constantly told to “recruit your friends and family”, “talk about it every day”, “use social media to mention something every day”, “encourage your downline” or “boast about how great the product is”. Why? Because once you PAY for something, it’s a natural instinct to defend or make the most out of your purchase. We all know its a stupid feeling to realize that you have been ripped off; which is why every MLM members are hard-headed and persistent. Most of you would have probably been talked into joining one of them at a point of your life, so here’s a list of the most popular MLM scams in Malaysia that you should know.

As a general rule of thumb, “If something seems too good to be true, it probably is”. 1. The Cafe Scams. Island Red Cafe collects members RM6,000 each and promised a 5% return every month. They’ll also give you a name in the ROC as a shareholder but what’s the point when they run away? Stevens Corner, the famous mamak also opens up investing opportunities due to a drop in their business. They would collect RM3,000 per member and promise returns of RM150 monthly with plans to open up a new franchise cafe called Stevens Tea Garden. It is heard that they will make you sign an agreement that will allow them the rights to NOT pay you anything in future. If you really wish to join, ask for a copy of their agreement and consult your lawyer BEFORE paying them. 2. Sunshine Empire. This licensed and legal company has an impressive office at the ground level of KUB building along Jalan Yap Kwan Seng, near Menara Public Bank and AmBank building. They also have a showroom office on the ground level in the next building. Previously, Singapore’s Straits Times and The Paper published big news reminding their people to be careful and NOT to believe in them. As expected, they’ve STOPPED paying back their members and all investments are burnt. The news published that the founder, director and group president is someone named James Phang. However, it is strange that he said he wasn’t the owner. At the end of the day, James Phang just disappeared from the company and claimed that he was just “employed”.

According to Straits Times, the investment plan which was offered was nothing more than a Ponzi scheme. James was eventually sentenced to 9 years in jail and $60,000 fine for breach of trust. Not too bad for duping investors of over millions of SGD. 3. MOBILEWALLET. This company is owned by 2 young men, Stanley & Rey Gan and they occupy an office in Queens Avenue Park. They have collected multi-millions over the past few years. They claimed that they have partnerships with Telekoms, Utility Board payment like Water & Electricity bills, and even Maybank was fooled by them. Advertisement billboards was once very common throughout the country. However, they eventually STOP paying their members and the victims are unable to do anything as they silently CHANGE their terms and policies, in which they have initially signed upon during registration. 4. Water businesses. Oxygenated and alkaline water products – Some of these are bottled water and some are filters or equipment that claimed the trick. One of the better known Company that sold “oxygen” water is SITO (supposed to stand for Selangor International Trading Organiszation and claimed that the Selangor State Government owned some share in it). The key person and founder is Dato Robert Ong from Rawang but his name is no longer in the business now. Their products are sold for RM2 to RM3 for a 350ml bottle and now concentrates mostly in the Indian market. Their Chinese and Malay targets were never successful.

Their customers are made to believe that their water has more oxygen and is able to give miraculous benefits to the body. “Water is H2O, how do we put more O into it ? Also do you know how much oxygen we breathe into our body everyday free of charge? Latest news is that this SITO Company is going to create new label to market under a new Company since the SITO name has already been tarnished. Someone informed that this Company is owing a lot of money(due to refunds) to ex-stockists but just refuse to pay them.” SITO has then shifted industry and their MLM business has closed but planning to start again with a different name, so beware guys! 5. Car Fuel Booster. The famous scam MLM Company that sold strange items from the footpatch TAKARA, “cock-ring” and petrol-saving pills. It got so popular that even some grocery shops are selling them. Many of the cars who had used the pills are often sent to the workshops to clean the residual that causes malfunction. Few months ago, another MLM Company launched a fuel booster gadget, claimed that it saves up to 20% fuel and is conveniently attached to the cigarette lighter. Started off well as a binary plan but business begin to die once users find the products NOT effective. 6. Perfumery Products. Lampe Berger used to be the trend among high-school and college students with hundreds of victims enrolling every month in Malaysia. Some membersteams even have beautiful girls as “recruiters” to lure those “dry” young boys .

This perfumery product from France with over 100 years of history are just bottles and fragrances. However, the company’s marketing plan in Asia is to claim them as “aromatherapy” products. Hong Kong TVB also aired a program that exposed their scam but their members claimed that HK’s TVB already apologised to them for the misinformation (without evidence, of course). Bel-Air have been closed in Malaysia. Note that the biggest strength in a MLM Scam is their members will go all the way to lie in order to defend for their Company. The reason is simple; these members fear that they will not be able to make their money back if the Company collapsed. Knowing that the Lampe Berger products are moving slow, they add a line of skincare products named Estebel which was proclaimed to also have over 100 years history in France. Their targets are mainly the Malays in Malaysia and their most active members are mostly Bumis. 7. Energy Products – stone pendants, bracelets, mattress and pillows. They would use all sorts of gimmicks and demonstration to make you into believing them. They will do tricks and demos to prove that these products really produce positive energy BUT are there any tricks in their demo or could it be just science? Also, if there really produce energy; is it good or strong enough to help the body? Are those simple products really worth RM300 to RM3000 each? Most of the time, it is actually just PLACEBO effect taking place (capitalizing on the power of believing).

8. Hi-Tech products. These are bio-tech and nano-tech products which claimed to have millions of dollars of research involved in them. They will associate their products with a professor behind them and use words like “U. S.A. formula”, “German Technology” or “Nanotechnology” but without further details. If you ask were to ask for more details such as the professor profile or the research factory’s address, they will either beat around the bush or simply state it as “trade secrets” (so they are unable to reveal the details). 9. Investment Schemes – Swisscash. Swisscash is over now but there are many similar and smaller businesses that are still operating. Many members are left unpaid when the company shut down. 10. EnergyCommodities Products. Energy and commodities MLM businesses have on the rise in the recent years due to the growing knowledge of Forex trading. Typically the modus operandi is to get individuals to invest in real gold or silver, or on an energy harvesting zone which can never be physically accessible, promising a fixed returns after every period. Members are then able to expand their profits by recruiting more ‘downline’ to invest similarly. 11. Health Center Scheme.

Certain company claims to have a prestigious background with many years of positive history which is NOT true. Their people or associates may be long in business but MLM program is handled by separate departments. New members are told to pay a sum of money (up to RM1000) and you get NOTHING for it. All that you get is only get a membership pass that allows you to enjoy all sorts of promotions and discounts when you have medical check-ups in their health centres. They would claim that those check-ups would cost much more if done elsewhere. However that isn’t true and only those who aren’t aware of the market rate for medical check-ups will fall victim to them. Most members who paid the money ended paying even more for the check-ups at the end of the day. 12. Seaweed Venture Scams. Their company is located in Taman Maluri, Cheras. They will ask you to invest a few thousand ringgit to grow seaweed in their farms in East Malaysia and you’ll be guaranteed returns after harvest. To gain your confidence further, they will claim that your investment is secured by “insurance” or “unit trusts” & “trustees”. However, when you ask for further documents to prove, they will give all sorts of excuses or just ignore you because they know that there was never one in the first place. The Seaweed scam is pretty prevalent in Malaysia, so warn all your friends about it before they are victimised. 13. NuLife (HK) This company is founded by a few people from Hong Kong and has been in Malaysia for over 10 years. However, their business have both flopped in Hong Kong and Malaysia due to a product scam and poor management. They’ve used a prosecuted American named Dr Jeffrey Bland which was found guilty for falsely promoting their products claim. Ever since this case was known in the US, many Malaysians got to find out that the real boss in Hong Kong is Steven Tang (an infamous conman that cheated Malaysians in another scheme over 20 years ago). Since then, their business crashed down all the way. They claimed that their Malaysian partners cheated them and started another new MLM company in Malaysia.

14. Arowana Fish Breeding and Oora from Germany. These scams are quite recent. Arowana Fish will ask people to invest money in breeding fishes and they’ll give you fixed return continuously and Oora from Germany which markets bio-chips and gadgets that claims to give you energy and therapeutic effects of acupuncture, tai-chi and yoga depending how you wear the gadget on your body. There was only so much as to doctors claim and paperworks, but they could never really provide any case studies to prove their actual effectiveness. 15. Easy-Pharmax. This is easily one of the largest MLM scams in Malaysia which is owned by Dato Yeap. Members are tricked to invest up to RM40,000 with a false promise that the company will use an e-commerce or online selling platform to transact their goods and eventually make profits beyond means. It never happened, of course. 16. GRI (Global Royal International) The owner behind this scheme is non other than multi-billionaire James Pang, the guy ‘behind’ the Sunshine Empire scam. Before Sunshine Empire, he also operated NOP and SwissCash. He operated this business remotely using a lot of representatives and MLM leaders since his passport is held by the Singapore government and cannot come to Malaysia. Those who are bold enough to call themselves a MLM leader in Malaysia can visit his rep in Malaysia or Singapore to market the company. 17. English-Learning Program Online.

This scheme is targeted mostly to high school and university students where members are asked to pay RM100 for one or 2 years usage of online learning. Some programs like these changed names at least 2 or 3 times since they started due to poor responses and “technical problems” on their website. Their membership includes nothing tangible but instead, you’ll receive all materials online. 18. Genius Theme’s vacation and rewards package. Such holiday packages are being sold for RM499 to RM599 and you are promised a few nights stay in Thailand or Bali. Started by a company named Max Generation, Genius Theme sells their products to other MLM companies and also famous companies like Sen Heng. Previously Sen Heng gives the package away for free if you purchase products over RM2,000. Of course, there are other hidden costs to be paid and it’s never really free unless you pay MORE upfront. 19. Forex scams. Forex MLM is the new trend among youngsters as they target those who are eager to make fast money with little to no effort. Most common targets are Chinese high school, college or uni students. The promise is that they can make huge amounts of money in USD within a few trading sessions. While that is true with or without the MLM scheme in place, trading Forex in general possesses a significant risk to your invested capital. It is common for such MLM business to organize free forex classes, promoting easy money by trading to lure prospects.

Editor’s note: This content is not comprehensive and if there’s any info we’ve missed or should attend to, please let us know at email protected! Why Your Forex MLM Will Fail. Hey there, I’m back! I’ve had some serious writers block over the last 2 weeks. That has all changed, at least for the next 45 minutes or so. I wanted to do this post because Forex MLM’s seem to be all the topic on Facebook these days. Now, before I begin, I want to warn you ahead of time I’m going to state some points arguing why current Forex MLM’s won’t work, and how to fix it for the future. My ONLY stipulation to this article is this: If you like this post, share it. If you don’t like this post, talk shit, and then share it. Now, where to begin.. I want to start by mentioning the multiple reasons Forex MLMs are a shitty idea. First of all, forex was something that NOBODY for the most part in the mlm niche was actually involved with before they could build a downline. What do I mean by this? Simply, that Forex wasn’t a popular industry for most people in this industry before it became a network marketing opportunity.

This is a problem because this is a clear indication that customer acquisition will be hard to come by. In network marketing, you want to have a product or service that the majority of the population (or as much as possible) is already using without a business opportunity attached. This needs to be the case, as well as having access to the product or service at a competitive price point. This is why health and wellness products, as well as skin care, dominate the industry. Because, for the most part, everyone bathes and everyone has tried to live healthier lifestyles at one point in their life. Forex, like stated before, is new to network marketing. It has huge appeal because of the opportunity to make money from the services these companies provide. I’ll mention why this isn’t so glamorous here in just a second. To sum up the first point, if you want longevity, you need people wanting to become customers without wanting to do the business. At some point, every company loses timing. So, if you don’t have a strong customer base, and then you stop getting people wanting to take advantage of the timing, you lose momentum and usually fizzle out. Side note to all of this: A customer is a customer, NOT a distributor who doesn’t want to build the business. Please stop confusing the two. Now, reason number two is this whole “Forex can make you money” pitch.

Instantaneously, two things come to mind when I hear this——-> Any product or service that you get at wholesale in MLM and flip for retail, is a profit. It’s ROI. This instantly trumps the “forex is the only service that can make you money without recruiting” argument. The second reason is that it’s also a service that can lose you money. Network marketing is a revolving door. Most of your organization is split up into the 8020 rule. This means that 80% of your organization are the unmotivated and motivatibles, while 20% is the self motivated. The majority of the people who quit inside your organization, are in that 80% group. This happens ALL the time in any company. It’s kind of like throwing shit against the wall and seeing what sticks. Now, imagine if your service loses you money. Yes, I know it can make you money. But imagine, for the skiddish 80% of your team, who put their last dimes into their account, and have it blown because of a random signal.

Do you think they’re staying? We just mentioned that no matter what the company, the revolving door is a reality. That’s even when the people are pushing creams and energy drinks. That’s even when they aren’t having their accounts blown. Yes, I’m aware that you, the reader, feel you would stick it out(for a decent amount of time anyway). But you aren’t average, are you? You aren’t in the 80%. This is why the revolving door is magnified tenfold with Forex MLM. This is why retention will always be a bitch with your company. Ok, ok, ok. I’ve shit on Forex MLM’s long enough. Now, it’s time to fix their issues. Some of the solutions I have are simple. Can an existent company implement these changes? But, if you’re planning on joining a company, or planning on starting one, here are my recommendations for you or your company’s leadership. Make a legit customer program. Make the customer program affordable, and different than the opportunity aspect. If the customer program looks appealing and different from the business building side, then you will actually get legit customers in your organization. This not only gets the FTC off your back, but gives you potential for long term growth.

Make your company a direct sales model. What I mean by this, is make it more expensive to be involved with, but make it just a one time payment. Get rid of auto ships. This will make the company profitable, but also keep the repcustomers continuing on with the company. They will feel like they’ve “already paid” and might as well get the most out of it, regardless of the losses. Another option, is contracts. If the service is good, you can add mandatory contracts as a qualification to be involved. Even if it’s a soft pull of each reps credit with the contract, the idea of being locked in from 6 months-2 years can combat the lack of stability when it comes to standard retention. I know you don’t see this concept a lot, but speaking from experience in my current company, this can work. This way, even if someone gets discouraged and wants to go into hiding for a while, it won’t hurt your business at all. The last suggestion, would be more of a Wealth Generators approach. See, WG has more products than just standard Forex trading.

They’ve got money managing services, Taxbot, Algo pack, and other stuff that customers and distributors could find appealing, regardless if they were taking losses in the market place. This is why I think the current, best model for Forex, is affiliate marketing. Facebook groups, affiliate commissions, and one time payments to be involved are the way to go. I’m not affiliated with any company whatsoever, but to me, a strong membership site would be the way to go. Do something where people can make money off of referring, take the downlines out of it, and have it be a one time payment to join. Now, that I got that out of the way, let me know what you think. Remember, this isn’t a post about Forex being bad. This is just an opinion of someone that’s been in network marketing for 5 years. I’ve seen every kind of company, ones that failed and ones that succeeded. To this day I’ve yet to see that Forex MLM that blew me away. A guy can dream right? Alright, with that said, we’ll talk to you all soon. Belvin out! Follow the Journey to 7 Figures. Subscribe to my mailing list and get interesting stuff and updates to your email inbox. Thank you for subscribing. Something went wrong. We respect your privacy and take protecting it seriously.

Please complete the security check to access bestcompany. com. Why do I have to complete a CAPTCHA? Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. What can I do to prevent this in the future? If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Cloudflare Ray ID: 4501a67ab4ec844e • Your IP : 193.0.218.8 • Performance & security by Cloudflare. Forex mlm companies 2016. Forex Goes MLM By Mark Molina. Forex now goes MLM (multi-level marketing) and much of the industry is up in arms about this revelation. Could this change the way investors use the foreign exchange? Could this be a revolutionary new multi-level marketing idea? How can a foreign exchange investing company be involved in network marketing and how do they make this system work? Why are people worried about this system and the effect it can have both on the investing community and the network marketing industry?

Many people in the industry are worried about this system because it actually works. With this system you don't have to bother with charts and graphs and don't have to be glued to your computer and you can still see results. This system is such a winner, it's no surprise it has proven successful in MLM. If you have heard negative comments about this FOREX MLM system it is usually from people who have never even tried it and don't know how it works. Some of the nay-sayers are those that currently profit from the FOREX's tight top percentage market and they don’t want to see other people competing with them. Others have never tried the system and are not familiar with how it works and why it works. A system that makes FOREX as simple as this will have many ordinary people edging their way into the foreign exchange market and taking their piece of the pie. No wonder so many people are worried now that this revolutionary Forex system has become involved in network marketing. Word will spread of this fabulous system and how well it works and Forex will no longer be an investment opportunity untapped by the everyday person. What kind of Forex system are we talking about anyway? We are talking about a system that has been created to take all the guesswork out of Forex for you and make it easy for you to earn high gains from the market even if you have no prior experience in trading.

This system uses computer software to help you formulate the best portfolio and investing plan for your needs so you see excellent results. When I first started researching the Forex I learned that it would take months to learn and studying charts and graphs and a lot of money to get started. Something that a full time job would not allow me to do. Then a good friend of mine introduced me to a forex investment strategy. He told me how easy it was to learn and how it required no formal training and that I could be up and running in less than 3 hours. He also told me that he was earning monthly what banks and mutual funds were earning yearly. You can only imagine my skepticism. So I started doing some research on the company and the proprietary software they were using. I took a leap of faith and opened up a demo account, and to my surprise everything that they claimed was true. I can honestly say that I'm earning more a month than my mutual funds and my bank are earning a year. 19 Popular MLM Scams In Malaysia That You Should Beware Of. We apologize in advance for any misrepresentation in regards to the information listed here.

Information for this piece is sourced from drazwan. blogspot. my and belongs to the third party’s opinion. We’d like to note that this content is not comprehensive. If there’s any info we’ve missed or should attend to, please let us know at email protected! There is nothing more annoying than listening to someone pitch their MLM to you, often times a product they don’t even really use or they are forced to use it because of the continuity aspect of the program. Every MLM members are hustlers as you are constantly told to “recruit your friends and family”, “talk about it every day”, “use social media to mention something every day”, “encourage your downline” or “boast about how great the product is”. Why? Because once you PAY for something, it’s a natural instinct to defend or make the most out of your purchase. We all know its a stupid feeling to realize that you have been ripped off; which is why every MLM members are hard-headed and persistent. Most of you would have probably been talked into joining one of them at a point of your life, so here’s a list of the most popular MLM scams in Malaysia that you should know. As a general rule of thumb, “If something seems too good to be true, it probably is”. 1. The Cafe Scams.

Island Red Cafe collects members RM6,000 each and promised a 5% return every month. They’ll also give you a name in the ROC as a shareholder but what’s the point when they run away? Stevens Corner, the famous mamak also opens up investing opportunities due to a drop in their business. They would collect RM3,000 per member and promise returns of RM150 monthly with plans to open up a new franchise cafe called Stevens Tea Garden. It is heard that they will make you sign an agreement that will allow them the rights to NOT pay you anything in future. If you really wish to join, ask for a copy of their agreement and consult your lawyer BEFORE paying them. 2. Sunshine Empire. This licensed and legal company has an impressive office at the ground level of KUB building along Jalan Yap Kwan Seng, near Menara Public Bank and AmBank building. They also have a showroom office on the ground level in the next building.

Previously, Singapore’s Straits Times and The Paper published big news reminding their people to be careful and NOT to believe in them. As expected, they’ve STOPPED paying back their members and all investments are burnt. The news published that the founder, director and group president is someone named James Phang. However, it is strange that he said he wasn’t the owner. At the end of the day, James Phang just disappeared from the company and claimed that he was just “employed”. According to Straits Times, the investment plan which was offered was nothing more than a Ponzi scheme. James was eventually sentenced to 9 years in jail and $60,000 fine for breach of trust. Not too bad for duping investors of over millions of SGD. 3. MOBILEWALLET. This company is owned by 2 young men, Stanley & Rey Gan and they occupy an office in Queens Avenue Park. They have collected multi-millions over the past few years. They claimed that they have partnerships with Telekoms, Utility Board payment like Water & Electricity bills, and even Maybank was fooled by them. Advertisement billboards was once very common throughout the country.

However, they eventually STOP paying their members and the victims are unable to do anything as they silently CHANGE their terms and policies, in which they have initially signed upon during registration. 4. Water businesses. Oxygenated and alkaline water products – Some of these are bottled water and some are filters or equipment that claimed the trick. One of the better known Company that sold “oxygen” water is SITO (supposed to stand for Selangor International Trading Organiszation and claimed that the Selangor State Government owned some share in it). The key person and founder is Dato Robert Ong from Rawang but his name is no longer in the business now. Their products are sold for RM2 to RM3 for a 350ml bottle and now concentrates mostly in the Indian market. Their Chinese and Malay targets were never successful. Their customers are made to believe that their water has more oxygen and is able to give miraculous benefits to the body. “Water is H2O, how do we put more O into it ? Also do you know how much oxygen we breathe into our body everyday free of charge? Latest news is that this SITO Company is going to create new label to market under a new Company since the SITO name has already been tarnished. Someone informed that this Company is owing a lot of money(due to refunds) to ex-stockists but just refuse to pay them.

” SITO has then shifted industry and their MLM business has closed but planning to start again with a different name, so beware guys! 5. Car Fuel Booster. The famous scam MLM Company that sold strange items from the footpatch TAKARA, “cock-ring” and petrol-saving pills. It got so popular that even some grocery shops are selling them. Many of the cars who had used the pills are often sent to the workshops to clean the residual that causes malfunction. Few months ago, another MLM Company launched a fuel booster gadget, claimed that it saves up to 20% fuel and is conveniently attached to the cigarette lighter. Started off well as a binary plan but business begin to die once users find the products NOT effective. 6. Perfumery Products. Lampe Berger used to be the trend among high-school and college students with hundreds of victims enrolling every month in Malaysia. Some membersteams even have beautiful girls as “recruiters” to lure those “dry” young boys . This perfumery product from France with over 100 years of history are just bottles and fragrances.

However, the company’s marketing plan in Asia is to claim them as “aromatherapy” products. Hong Kong TVB also aired a program that exposed their scam but their members claimed that HK’s TVB already apologised to them for the misinformation (without evidence, of course). Bel-Air have been closed in Malaysia. Note that the biggest strength in a MLM Scam is their members will go all the way to lie in order to defend for their Company. The reason is simple; these members fear that they will not be able to make their money back if the Company collapsed. Knowing that the Lampe Berger products are moving slow, they add a line of skincare products named Estebel which was proclaimed to also have over 100 years history in France. Their targets are mainly the Malays in Malaysia and their most active members are mostly Bumis. 7. Energy Products – stone pendants, bracelets, mattress and pillows. They would use all sorts of gimmicks and demonstration to make you into believing them. They will do tricks and demos to prove that these products really produce positive energy BUT are there any tricks in their demo or could it be just science? Also, if there really produce energy; is it good or strong enough to help the body? Are those simple products really worth RM300 to RM3000 each? Most of the time, it is actually just PLACEBO effect taking place (capitalizing on the power of believing). 8. Hi-Tech products.

These are bio-tech and nano-tech products which claimed to have millions of dollars of research involved in them. They will associate their products with a professor behind them and use words like “U. S.A. formula”, “German Technology” or “Nanotechnology” but without further details. If you ask were to ask for more details such as the professor profile or the research factory’s address, they will either beat around the bush or simply state it as “trade secrets” (so they are unable to reveal the details). 9. Investment Schemes – Swisscash. Swisscash is over now but there are many similar and smaller businesses that are still operating. Many members are left unpaid when the company shut down. 10. EnergyCommodities Products. Energy and commodities MLM businesses have on the rise in the recent years due to the growing knowledge of Forex trading. Typically the modus operandi is to get individuals to invest in real gold or silver, or on an energy harvesting zone which can never be physically accessible, promising a fixed returns after every period.

Members are then able to expand their profits by recruiting more ‘downline’ to invest similarly. 11. Health Center Scheme. Certain company claims to have a prestigious background with many years of positive history which is NOT true. Their people or associates may be long in business but MLM program is handled by separate departments. New members are told to pay a sum of money (up to RM1000) and you get NOTHING for it. All that you get is only get a membership pass that allows you to enjoy all sorts of promotions and discounts when you have medical check-ups in their health centres. They would claim that those check-ups would cost much more if done elsewhere. However that isn’t true and only those who aren’t aware of the market rate for medical check-ups will fall victim to them. Most members who paid the money ended paying even more for the check-ups at the end of the day. 12. Seaweed Venture Scams. Their company is located in Taman Maluri, Cheras.

They will ask you to invest a few thousand ringgit to grow seaweed in their farms in East Malaysia and you’ll be guaranteed returns after harvest. To gain your confidence further, they will claim that your investment is secured by “insurance” or “unit trusts” & “trustees”. However, when you ask for further documents to prove, they will give all sorts of excuses or just ignore you because they know that there was never one in the first place. The Seaweed scam is pretty prevalent in Malaysia, so warn all your friends about it before they are victimised. 13. NuLife (HK) This company is founded by a few people from Hong Kong and has been in Malaysia for over 10 years. However, their business have both flopped in Hong Kong and Malaysia due to a product scam and poor management. They’ve used a prosecuted American named Dr Jeffrey Bland which was found guilty for falsely promoting their products claim. Ever since this case was known in the US, many Malaysians got to find out that the real boss in Hong Kong is Steven Tang (an infamous conman that cheated Malaysians in another scheme over 20 years ago). Since then, their business crashed down all the way. They claimed that their Malaysian partners cheated them and started another new MLM company in Malaysia. 14. Arowana Fish Breeding and Oora from Germany. These scams are quite recent. Arowana Fish will ask people to invest money in breeding fishes and they’ll give you fixed return continuously and Oora from Germany which markets bio-chips and gadgets that claims to give you energy and therapeutic effects of acupuncture, tai-chi and yoga depending how you wear the gadget on your body. There was only so much as to doctors claim and paperworks, but they could never really provide any case studies to prove their actual effectiveness. 15. Easy-Pharmax.

This is easily one of the largest MLM scams in Malaysia which is owned by Dato Yeap. Members are tricked to invest up to RM40,000 with a false promise that the company will use an e-commerce or online selling platform to transact their goods and eventually make profits beyond means. It never happened, of course. 16. GRI (Global Royal International) The owner behind this scheme is non other than multi-billionaire James Pang, the guy ‘behind’ the Sunshine Empire scam. Before Sunshine Empire, he also operated NOP and SwissCash. He operated this business remotely using a lot of representatives and MLM leaders since his passport is held by the Singapore government and cannot come to Malaysia. Those who are bold enough to call themselves a MLM leader in Malaysia can visit his rep in Malaysia or Singapore to market the company. 17. English-Learning Program Online. This scheme is targeted mostly to high school and university students where members are asked to pay RM100 for one or 2 years usage of online learning.

Some programs like these changed names at least 2 or 3 times since they started due to poor responses and “technical problems” on their website. Their membership includes nothing tangible but instead, you’ll receive all materials online. 18. Genius Theme’s vacation and rewards package. Such holiday packages are being sold for RM499 to RM599 and you are promised a few nights stay in Thailand or Bali. Started by a company named Max Generation, Genius Theme sells their products to other MLM companies and also famous companies like Sen Heng. Previously Sen Heng gives the package away for free if you purchase products over RM2,000. Of course, there are other hidden costs to be paid and it’s never really free unless you pay MORE upfront. 19. Forex scams. Forex MLM is the new trend among youngsters as they target those who are eager to make fast money with little to no effort. Most common targets are Chinese high school, college or uni students. The promise is that they can make huge amounts of money in USD within a few trading sessions. While that is true with or without the MLM scheme in place, trading Forex in general possesses a significant risk to your invested capital. It is common for such MLM business to organize free forex classes, promoting easy money by trading to lure prospects. Editor’s note: This content is not comprehensive and if there’s any info we’ve missed or should attend to, please let us know at email protected!

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