Is Epic Trading a Scam?
There’s been a surge in multi-level marketing companies that specialize in Forex Trading. Business is booming because most of them are savvy Pyramid schemes disguised as training programs promising fortunes to new members. Most of them offer investment opportunities that just don’t add up.
To date, I’ve not found a Forex Trading MLM program that lives up to its promises.
In today’s review, I’ll be looking at a company named Epic Trading to find out whether you can build a thriving full-time business from their opportunity.
The fact that you’ve taken a moment to scrutinize this product before signing up should be applauded. You’ve done yourself a huge favour. 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 Epic Trading in any sort of way and I’m not trying to sell you this product.
Instead, I’d like to reveal what’s really happening behind this MLM product…
Epic Trading Product Review
- Name of Product: Epic Trading
- Owner: David McCovy
- Type of Product: Forex Training MLM Product
- Cost of Product: $24.99 Per Month To Access The Income Opportunity
- Who Is This Product Best For? NOBODY!
Epic Trading Product Summary
Epic Trading is a multi-level marketing business that specializes in Forex trading, however, it’s a disappointing opportunity for various reasons. For starters, the founder was previously part of a pyramid scheme.
Another red flag is that this program could also be the beginnings of a pyramid scheme, which you should probably stay away from.
Product Rating: 10/100
Would I Recommend This Product? Definitely Not!
Epic Trading Explained
Epic Trading is a program that focuses on Forex Trading within the MLM industry. Forex takes up a small percentage of multi-level marketing and that’s because it’s already an industry in it’s own right.
David McCovy is the founder of Epic Trading. He’s also been involved with the MLM programs listed below:
- 5Linx
- Paycation
- Evolution Travel
David’s initial success was acknowledged whilst he was running 5Linx, where he worked his way up to Senior Vice President in 2014. Afterwards, David worked for another MLM named Paycation, which was subsequently exposed to be a scandalous pyramid scheme
David didn’t stay at Paycation very long. He left the company in 2015 to launch Evolution Travel.
To date, Evolution Travel is still an active business, however, it appears to be a replica Paycation. It follows the same compensation plan and business model as Paycation.
It looks as though David is simultaneously operating both companies.
Epic Trading Product Range
Similar to its predecessors, David makes his best attempts to ensure that Epic Trading offers some sort of product.
For the avoidance of doubt, Epic Trading promotes a series of tutorials that focus on Forex. The training is called Epic Scholar.
Inside the program you’ll also be able to view:
- Trading sessions
- Trade alerts
- Market forecasts and
- Fundamental analysis
There’s an additional subscription you will need to pay for the above on top of the MLM fees to sign up. Epic Scholar is priced at $99 per month.
Does Epic Trading Work?
The website doesn’t really provide much detail about its Forex activities and how the product works. We are left in the dark about the crucial workings of the program.
The fact the owner is vague about how Forex trading is being conducted through Epic trading is very dubious. This leaves potential members like you and I without enough information to make an informed decision whether it’s the right product for us.
The program guarantees to assist you with Forex trading, but how can we know for sure that this is a winning product?
In their favor, the business does not try to sell you the idea of making passive earnings, which ventures into securities.
The website advises that it does not provide investment recommendations because their trade signals are sent to every member without taking into account each trader’s own circumstances. The program also states that it does not have trading authority for any trade activity.
As such, you’ll have complete control over your trades. The flipside of this is that there’s no type of trade automation that can be done at Epic Trading.
Epic Scholar is their product offering which has some authenticity in the eyes of the regulators. The SEC and FTC are the authorities that keep a watch over the MLM industry to ensure that these companies offer a product as opposed to just incentivizing members to recruit more members. MLM companies that purely focus on recruitment are a big warning sign to the regulators because this is how pyramid schemes are formed.
To get round this, Epic Trading has provided members with a product named Epic Scholar under a separate subscription. Supposedly, members are not obliged to join the MLM business.
How To Profit with Epic Trading
The only method to profit with Epic Trading is to create your own downline, I’ll go into this in more detail further down.
Getting Started with Epic Trading
To get started with the program you will need to pay a monthly fee of $99 for Epic Scholar. This fee does not give you access to the MLM compensation plan.
To market and make money from their product, you’ll need to join as an Independent Business Owner (IBO) at a monthly fee of $24.99.
You don’t have to join one program to access the other.
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How Does The Compensation Plan Work?
Epic Trading’s compensation plan incentivizes you to sponsor new members and sell to retail customers. Below is a summary of how it works:
Epic Trading Ranks
The program has 12 different ranks that you can work your way up to. To do this you will have to achieve various sales and recruitment targets.
- Affiliate: Join the program as an Epic Trading member and carry on paying the membership fees every month
- Founder: Sign up 3 members and build 300 GV per month
- Founder 500: Sustain 3 members (recruited directly) and create a downline with 10 members and maintain 1000 GV per month
- Founder 1000: Sustain 3 members (recruited directly) and create a downline with 30 members and maintain 3000 GV per month
- Founder 2000: Sustain 3 members (recruited directly) and create a downline with 80 members and maintain 8000 GV per month
- Founder 5000: Sustain 3 members (recruited directly) and create a downline with 250 members and maintain 25,000 GV per month
- Ambassador 10: Sustain 3 members (recruited directly) and create a downline with 500 members and maintain 50,000 GV per month
- Ambassador 20: Sustain 3 members (recruited directly) and create a downline with 1000 members and maintain 100,000 GV per month
- Ambassador 50: Sustain 3 members (recruited directly) and create a downline with 2500 members and maintain 250,000 GV per month
- Icon 100: Sustain 3 members (recruited directly) and create a downline with 5000 members and maintain 500,000 per month
- Icon 200: Sustain 3 members (recruited directly) and create a downline with 15,000 members and maintain 1,500,000 GV per month
- Icon 500: Sustain 3 members (recruited directly) and create a downline with 40,000 members and maintain 4,000,000 GV per month
- Epic: Sustain 3 members (recruited directly) and create a downline with 75,000 members and maintain 7,500,000 GV per month
A retail subscription equates to 100 GV. If you want your membership to stay active, you will need to sustain 3 active members that you’ve directly sponsored.
Epic Trading Monthly Commissions
You will be rewarded commissions every month according to your rank:
- If you achieve the rank of Founder 500 you will be awarded $500 per month.
- If you achieve the rank of Founder 1000 you will be awarded $1000 per month.
- If you achieve the rank of Founder 2000 you will be awarded $2000 per month.
- If you achieve the rank of Founder 5000 you will be awarded$5000 per month.
- If you achieve the rank of Ambassador 10 you will be awarded $10,000 per month.
- If you achieve the rank of Ambassador 20 you will be awarded $20,000 per month.
- If you achieve the rank of Ambassador 50 you will be awarded $50,000 per month.
- If you achieve the rank of Icon 100 you will be awarded $100,000 per month.
- If you achieve the rank of Icon 200 you will be awarded $200,000 per month.
- If you achieve the rank of Icon 500 you will be awarded $500,000 per month.
- If you achieve the rank of Epic you will be awarded $1,000,000 per month.
Residual Commissions
Epic Trading awards you with residual commissions depending on your rank, however, we are not given the exact details about the amount of money you can earn from this.
Epic Trading Exposed!
1). It’s All About Recruitment
Let’s cut to the chase. As a member, your rewards are solely centered around recruitment, with a small amount of retail rewards.
How did we come to that conclusion?
According to Epic Trading, the program encourages all members that are considering signing up to the compensation plan to initially sign up with Epic Scholar to get to grips with the program’s features and see what’s on offer.
But the problem is that there’s not enough information to teach members how to actually use the platform, therefore, chances are that new members will join the $99 program prior to the $24.99 program.
2). Forex Trading MLMs Are Poor Performers
At this moment, my recommendation would be to keep away from Forex Trading MLM businesses for several reasons, but the main one would be that this is a very risky way to try make money. You are investing your own cash with the hopes of making a sizeable return.
However, there’s also a strong possibility that you could lose your investment.
3). The Owner Was Part Of Another Pyramid Scheme
The fact that the founder of Epic trading was involved in a pyramid scheme earlier on in his career is a big red flag that needs to be highlighted. We are not sure to what extent he was involved but it brings to light the kind of person you’re entrusting your hard-earned money to.
The business model of Epic Trading is virtually identical to Evolution Travel. What sets them apart is that one is focused on Forex trading and the other on travel.
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Advantages of Epic Trading
One word. None!
Is Epic Trading a Scam or a Genuine Business?
Epic Trading is not a scam, however, it’s doesn’t offer a sustainable way for you to make money online. It’s an inferior MLM program with several questionable practices that are leaning towards the makings of a pyramid scheme.
- You are heavily incentivized to recruit more members rather than retail sales, therefore, as a member, you’ll be funneled into a recruitment system if you want to make the most of their earning opportunity.
- MLM companies that specialize in Forex Trading don’t really provide decent business models that are profitable. If you’re considering a career as a trader then you’d fare better with a renowned trading service or platform.
- The founders history of being involved in pyramid schemes puts this whole business in question as to whether it’s 100% genuine.
To conclude, my recommendation is to steer clear of Epic Trading to avoid disappointment and potentially losing your money.
How Do I Use The Internet to Make a Full-Time Salary?
I’m not a big fan of get-rich-quick schemes or Forex Trading MLM programs, let’s just say that I’ve been caught short a few times.
Instead, Affiliate Marketing is my leading recommendation for people that want to build a thriving full-time online business working from home.
Here are my reasons why…
- You can get started for Free.
- There’s no pressure to recruit family and friends, or anyone else for that matter.
- You can create a business from virtually any product including the ones that you already buy. You are not limited to low-income or inferior products.
Affiliate marketing can help you to…
Generate a 4-Figure Monthly Salary and become financially free from the limitations of a traditional day job. You can do this in less than 12 months!
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