What Is iQuandex About?
Cryptocurrency investment schemes can be easily exploited because most people don’t know much about them or how they’re supposed to work. Most of the Cryptocurrency marketing ads out there claim that they can provide you with a passive income if you invest in them.
The truth is that a lot of these MLM programs are scams that are trying to get you to invest in what appears to be a cryptocurrency opportunity.
In today’s review, we’ll be looking at iQuandex, an MLM investment scheme with something to hide.
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 iQuandex in any sort of way and I’m not trying to sell you this product.
Instead, I’d like to unravel the truth behind this MLM program to see if you can ACTUALLY make a passive income from it…
iQuandex Product Review
- Name of Product: iQuandex
- Owner: Denis Derkach
- Type of Product: Cryptocurrency MLM Income Opportunity
- Cost of Product: Invest between $25 to $5000
- Who Is This Product Best For? NOBODY!
iQuandex Product Summary
iQuandex claims to be a cryptocurrency investment scheme which utilizes an MLM business model, but it’s really a pyramid scheme. The only way to earn cash is if you recruit more members onto the program. We’ve discovered several warning signs which we’ll be revealing in the next few sections.
Product Rating: 1/100
Would I Recommend This Product: Definitely Not!
iQuandex Background
iQuandex pitches itself as a multi-level marketing program that specializes in cryptocurrency investments. Their website’s landing page shows a link that redirects you to their YouTube channel which contains videos that are all in Russian.
The domain was registered on 18th March 2020 and listed the owner as Abrarot Rinat Fanozovich. However, an online search for Abrarot yielded no results. I could not find any other details about Abrarot beyond the walls of the program.
The most likely explanation is that the person behind this program is using a false name. This is a big cause for concern, which could indicate that the owner doesn’t want to be found.
There’s one more person linked to iQuandex. His name is Denis Derkach and he claims to be a global expert in cryptocurrency. According to his profile, Denis is Russian but currently resides in California.
Denis states that his initial cryptocurrency investment was $15,000 and he’s managed to increase it to $350,000.
I started questioning the validity of Denis’s claims when I noticed that his Facebook profile was created just a few months ago in August 2020. His other online profiles state that he’s currently residing in Russia and as such, I’m not sure why he’s putting on a false front about living in California.
Prior to iQuandex, Denis was working with a program called Kannaway and BitClub Network, which turned out to be a Ponzi scheme. From the looks of it, Denis is not as credible as he appears.
iQuandex Product Range
It comes as no surprise that iQuandex does not offer any retail products or services. Therefore, the only way to generate money with this program is to recruit more members under you. This is not a sustainable income opportunity!
Does iQuandex Work?
iQuandex claims that it uses an automated trading bot to place trades for cryptocurrencies such as Ethereum, Bitcoin, Ripple, etc.
As a member, you will sign up for the automated trades, compensate your recruiters, and start recruiting new members so that you can receive commissions.
There’s no evidence that iQuandex is actually placing trades or generating money from other sources beyond recruitment.
iQuandex is offering a passive Return On Investment through their automated trading bot, therefore, this is classified as securities. As such, the company needs to be authorized by the financial regulators, in their respective country, to be able to offer this to members.
Again, there’s no evidence that iQuandex is authorized by any regulator. This means they are liable to securities fraud in addition to running a pyramid scheme. The combination of the two is a toxic concoction which could also land you in trouble if you decide to promote this product.
How To Profit with iQuandex
If you want to make money through iQuandex your only option is to recruit more members to their pyramid scheme.
Getting Started with iQuandex
To participate in iQuandex’s income opportunity, you have to make an investment of at least $25 and a maximum of $5,000.
Once you’ve achieved the maximum advertised returns, you have to carry on paying the membership and reinvest if you want to extend the income opportunity.
iQuandex Compensation Plan
The compensation amount that you will supposedly earn from their bot will depend on the amount you pay towards your membership fee.
Your funds will be controlled and handled by the bot. You can supposedly earn the returns shown below:
- Pay $25 for the option to invest $250 to $1,500 to receive a 110% ROI
- Pay $250 for the option to invest $250 to $1,500 to receive a 150% ROI
- Pay $750 for the option to invest $200 to $5,500 to receive a 150% ROI
- Pay $1,500 for the option to invest $7,500 to $15,000 to receive a 150% ROI
- Pay $5,000 for the option to invest $20,000 to $60,000 to receive a 160% ROI
New members can only take advantage of the first option, which they can use once. The program doesn’t impose a fixed term for investments.
iQuandex’s Affiliate Ranks
The compensation plan contains 10 different member ranks. Below is a summary of each rank and qualification criteria:
- Bronze – Achieve this status if you generate $1,000 in downline investments
- Silver – Achieve this status if you generate $3,000 in downline investments
- Gold – Achieve this status if you generate $10,000 in downline investments
- 1 Star – Achieve this status if you generate $30,000 in downline investments
- 2 Stars – Achieve this status if you generate $80,000 in downline investments
- 3 Stars – Achieve this status if you generate $240,000 in downline investments
- Diamond – Achieve this status if you generate $720,000 in downline investments
- Red Diamond – Achieve this status if you generate $2,180,000 in downline investments
- Blue Diamond – Achieve this status if you generate $6,500,000 in downline investments
- Grand Blue Diamond – Achieve this status if you generate $20,000,000 in downline investments
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Recruitment Commissions
Commissions are awarded if you recruit more members. The percentage depends on the amount of money your new recruit pays for membership-
- Earn 8% on recruited affiliates if your recruit pays $25 or $250 in membership fees
- Earn 10% on recruited affiliates if your recruit pays $750 or $1,500 in membership fees
- Earn 12% on recruited affiliates if your recruit pays $5,000 in membership fees
You’ll receive an additional recruitment bonus of $100 if your recruit gets two more members to sign up and they pay $250 or more within the initial 72 hours.
Residual Binary Commissions
The program also gives out residual commissions for the starting fees paid by your recruits. This is calculated using a binary compensation system which positions recruits on your right and left leg.
Your recruit’s recruits will be positioned beneath their legs and this structure will continue to build out. You will be rewarded a percentage commission for each leg up to a maximum number of levels.
Residual Uni-level Commissions
The program also pays additional residual commissions that are based on a uni-level structure. Your recruits are positioned beneath you on the first level. Any new members that they recruit will be placed on the second level and it keeps building out this way. The maximum number of levels in this structure is 10.
Below is a summary of the amounts you’ll be paid for each level-
- Pay $25 or $250 and earn 5% for the first level (your direct recruits)
- Pay $750 and earn 5% for the first to third level
- Pay $1500 and earn 5% for the first to fifth level
- Pay $5000 and earn 5% for the first to tenth level
iQuandex Exposed!
1). Blatant Pyramid Scheme
Their compensation plan is mainly based on recruitment and as such it’s a pyramid scheme putting on a false front as an automated trading bot.
You can’t make money if you just invest in the program and do nothing else. The only way to profit is if you get more members to sign up and invest.
2). Is The Trading Bot Real?
Their automated trading bot is a work of fiction. If the company actually owned software that could generate lucrative profits, why would they share it with the general public for just $25? Genuine trading systems such as IQ Option will make you invest at least $200 and they’ll deduct a small percentage from your profits which goes towards running the program.
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Advantages of iQuandex
iQuandex is nothing more than a glorified pyramid scheme pretending to offer automated trading services. There’s nothing good about it.
Is iQuandex a Scam or a Legit Program?
Their compensation plan says it all! It’s heavily focused on recruitment which means this program is a pyramid scheme. It doesn’t deliver on its promises and you can’t make money by simply investing in iQuandex.
The trading bot does not exist and as such, you can’t profit from automated trading. Your only choice is to recruit and guess what happens when that dries out? The business will collapse.
By the way, the owner has been linked to several other pyramid schemes prior to launching iQuandex. I doubt this program will be any different.
I’d recommend steering clear of iQuandex!
How Do I Use The Internet to Make a Full-Time Salary?
I’m not a big fan of get-rich-quick schemes or Cryptocurrency 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!
If you want to find out how I did it, Click Here!
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