Is Beurax A Scam?
With so much controversy surrounding Beurax recently, it only seemed sensible to do a review on them. So anyone who were curious or planning to join can be aware of this company.
In case you’re unfamiliar with Beurax, they are an investment company that dealt with bitcoin and cryptocurrency trading. They mainly lead with their trading side of things, and they manage to attract even individuals who do not wish to recruit.
For people who wish to make money with the company, you can promote their program to other people and they provide a 15-level plan with volume-based bonuses. They probably figured that once people start making money from trading, they’ll begin to talk about it with their friends or family.
That being said, is this a reliable company to invest in? Or just another Ponzi scheme? Find out everything you need to know here.
The fact that you’ve taken a moment to scrutinize this product before signing up should be applauded. You’ve done yourself a huge favor. Your due diligence will save you from potentially wasting your time and money.
A good bit of research always goes a long way in the fight against online scams. Creating a sustainable full-time online business is not difficult. You just need to know where to look.
Before we proceed I’d like to let you know that I’m not linked to Beurax in any sort of way and I’m not trying to sell you this product.
Instead, I’d like to show you why this program should be avoided…
Beurax Product Review
- Name of Product: Beurax
- Owner: Brandon Watts
- Type of Product: MLM Investment Program
- Cost of Product: Minimum deposit of $20
- Who Is This Product Best For? No one!
Beurax Product Summary
Beurax is a fintech company based in Australia with a workforce of 217 people. They also make use of independent contractors who are specialized experts with a large number of qualifications in their field. Depending on their needs, these professionals operate remotely on long- or short-term contracts. Automated bitcoin trading is their primary source of revenue.
This corporation, however, was shown to be a scam that never submitted any financial reports or other required paperwork. According to multiple testimonials from clients, this broker operates a Ponzi scheme in which current clients are asked to refer new clients in order to keep money flowing into the program.
Product Rating: 0/100
Would I Recommend This Program: DEFINITELY NOT!
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Beurax Background
Beurax claims to be situated in Australia and owned by Beurax Corporation PTY LTD. With a stated capital of $75,000,000 USD, the company was formed and has been in operation since August 21, 2020. They also have an ACIS certificate, indicating that they have been registered with the Australian Securities Commission.
Beurax provides a variety of asset management services to both businesses and individuals. They strive to assist their clients to diversify their portfolios and so enhance their revenues by employing unique tactics and cutting-edge software.
However, after hours of thorough research, we’ve uncovered that the broker is scamming its clients and that this is nothing more than a ruse designed to dupe individuals into joining a Ponzi scheme. There were also some concerning red flags that pointed made us question the legitimacy of this program.
At first, it seems understandable why people could fall for this scam. After all, Beurax had a nice-looking website that actually looked legitimate and they were able to introduce the supposed founder of Beurax, Brandon Watts. But what about everything else?
Beurax provides an ASIC registration certificate for “Beurax Corporation PTY LTD” in an attempt to seem credible. On the other hand, they have not filed any documentation with ASIC since its first application until its closure last year.
Not to mention, ASIC has a reputation for failing to effectively regulate MLM securities fraud. So overall, ASIC registration is worthless in the context of MLM due diligence.
A deeper look also reveals that, other than a marketing video (now taken down) posted on Beurax’s official YouTube channel featuring “Brandon Watts,” the company’s website has no genuine information on who owns or manages it. Even back then, there were a lot of things about this “Brandon Watts” that didn’t line up. This leads to our next question.
Who Is Brandon Watts?
Brand Watts, the founder and CEO of Beurax, is said to be nothing more than a paid actor, according to several online sources. People have claimed that this CEO appeared to be acting in several videos of him in various contexts. But how could they tell? Well, it’s easy. People can detect when something is scripted for a show rather than genuinely scripted.
To put it in another way, Brandon Watts struggled to follow the script and appeared uncomfortable in his job as CEO. I get some people can be camera shy, but that’s not the case with him. The actor playing Watts had a really strong European accent and a lot of the things in his videos seemed odd.
One of these was when Watts was seen driving a car on the left side of the road. However, Australia drives on the right side of the road. He was also caught on camera being on his way to an unidentified location that was meant to be the company’s business office. Some folks, on the other hand, also tried to locate the Beurax firm and had no idea where to find it.
Furthermore, Brandon Watts appeared to be unable to provide any details regarding his organization. Watts appeared to be straining to persuade individuals of the business’s legitimacy as he discussed it. He looked to be struggling with his words and body language in order to make Beurax appear to be a legitimate thing.
Apart from these videos, there is no other information found on Brandon Watts. There would be some kind of information about this guy if he was a legitimate businessman and a great financial expert.
However, nothing is known about Brandon Watts other than the fact that he is a paid actor for Beurax. In fact, no one in the company knows who this person is. Many individuals who have joined the program have never heard of him before either. These reasons should be enough indication that this company isn’t what it appears to be and you should avoid it at all costs.
Beurax Product Line
Affiliates can only sell Beurax affiliate membership to interested clients because Beurax has no other items or services to offer.
How Does Beurax Work?
Affiliates must deposit either USD, Bitcoin, or Etherium on the promise of a return in order to participate in their investment offers. The investment varies from $20 million to $100 million dollars (0.001 BTC to 100 BTC, 0.05 ETH to 3000 ETH). Depending on how much you invest, you might earn anywhere from 1.4 percent to 3.6 percent.
Referral commissions are calculated as a proportion of your downline’s invested monies. In a uni-level compensation plan structure, the higher your “Status,” the more you may earn. This will be further discussed in a bit.
Getting Started with Beurax
Beurax affiliate membership is free, but you will solely rely on referrals to generate income. You must deposit at least $20 to participate in the investment opportunity.
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Beurax Compensation Plan
Affiliates of Beurax invest in USD, bitcoin, and/or ethereum with the guarantee of a daily return.
As seen in the image above, Beurax’s compensation structure has twelve affiliate ranks. They are as follows, along with their respective qualification criteria:
- Silver Consultant – sign up as a Beurax affiliate
- Golden Consultant – generate $10,000 for referring new members
- Diamond Consultant – generate $30,000 for referring new members
- Silver Manager – generate $60,000 for referring new members
- Golden Manager – generate $120,000 for referring new members
- Diamond Manager – generate $250,000 for referring new members
- Silver Partner – generate $1,000,000 for referring new members
- Golden Partner – generate $3,000,000 for referring new member
- Diamond Partner – generate $10,000,000 for referring new members
- Silver Director – generate $30,000,000 for referring new members
- Golden Director – generate $50,000,000 for referring new members
- Diamond Director – generate $100,000,000 for referring new members
Beurax Ugly Truths Exposed!
#1 Just Another Ponzi Scheme
As you can see from the points made earlier, members of the program are aggressively encouraged to attract other investors to their ranks by their company. This is a manner in which the program’s Ponzi scheme stays strong. They’re not selling or promoting any actual products aside from the affiliate membership.
Furthermore, since March 2021, Beurax’s program has collapsed and their website has been closed down. You can also check some reviews made in Trustpilot by people who were scammed by Beurax below.
#2 Beurax Executives Revealed To Be Paid Actors
If the huge amount of people telling you to stay away from this program isn’t enough, the Beurax executives that were introduced through their Youtube channel were also outed as paid actors and models.
Is Beurax a Scam or a Legit Program?
After getting exposed for being nothing but a Ponzi scheme, it’s safe to say that Beurax is definitely a scam. And unfortunately, they have scammed a lot of people of their money. The program itself has already collapsed last year and the website has been down ever since.
There is always some form of get-rich-quick online enterprise promising you quick cash for very little effort. “This is a once-in-a-lifetime chance,” these ads will tell you. However, people who can get rich rapidly by performing little labor are unlikely to share their secrets with the majority of the population.
In reality, those who do have this sort of chance will keep their identities hidden. You’ll have no idea they’re making a fortune by doing very little. Because why would they actually share their secrets? They won’t announce it to the public because they understand that if a large number of individuals do the same thing, their finances would suffer.
This is why the majority of internet possibilities that promise massive income without needing effort or actual hard work are just nothing but nonsense. And most likely, a scam. Beurax, unfortunately, falls under this criteria. That’s why their whole system collapsed in the first place. It wasn’t sustainable and they were outright scamming money from people.
With that being said, if you’re truly interested in making legitimate money online without taking any shortcuts, let me give you some tips on how you can do it the right way.
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