What Is Mirror Trading International?
Cryptocurrency investments are all the rage right now. People are easily drawn into these MLM schemes because of the lucrative profits that can supposedly be made within a short time span.
Sadly, investments and/or cryptocurrencies don’t work this way. For starters, if you decide to trade cryptocurrencies you need to know what you’re doing or you’ll lose money. The MLM opportunities that we’ve looked at so far merely incentivize you to recruit more members, and offer nothing of value.
Today we’ll be reviewing Mirror Trading International to see whether this program is really as profitable as it claims to be.
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 Mirror Trading International in any sort of way and I’m not trying to sell you this product.
Instead, I’d like to show you what this program is not telling you…
Mirror Trading International Review
- Name of Product: Mirror Trading International
- Owner: Johann Steynberg
- Type of Product: Cryptocurrency MLM Income Opportunity
- Cost Of Product: Invest At Least $100
- Who Is This Product Best For? NOBODY!
Mirror Trading International Summary
Mirror Trading International is an MLM program that claims to offer an income opportunity within the cryptocurrency market but it turns out that it’s a pyramid scheme. The program delivers zero value and zero products for the time and money that you put into it.
Product Rating: 1/100
Would I Recommend This Program? Definitely Not!
Mirror Trading International Explained
Mirror Trading International (MTI) is a cryptocurrency and investment company that offers it members an MLM income opportunity. Apparently, the company uses cutting-edge software and artificial intelligence to place winning trades on the Forex market utilizing Bitcoin as their main currency.
In a nutshell, the program promotes a system that automatically trades Forex on your behalf using Bitcoin. All profits are split everyday and distributed among members that invest their monies into that day’s trading.
The website does not provide details about the founder of the company or the leadership team. However, we were able to find this information from other sources. The CEO and owner is called Johann Steynberg. He’s based in South Africa along with the company.
Before launching Mirror Trading International, Johann was involved with a different company called Syntek Global and in a short amount of time he devoted most of his time to cryptocurrency, but he had ulterior motives up his sleeve.
MTI states that it’s been operating since 2016, however, the domain registration shows a completely different date. The websites was actually registered on June 2020, therefore, the program is relatively new.
Mirror Trading International Product Range
Unfortunately the program does not offer any retail products or services. It might look like MTI is marketing a trading service but his isn’t the case.
The only thing that you’ll find inside this program is the compensation plan which can only be accessed if you buy the membership.
Does MTI Work?
The program offered by MTI is full of flaws and is designed in such a way that the earnings are not sustainable. That’s because it’s a pyramid scheme which is entirely dependent on recruiting more members.
Furthermore, Johann doesn’t have trading experience and as such, you would be entrusting your money with a novice. The reason I’m highlighting this is because the program offers a passive income opportunity through the use of securities.
South African companies that trade securities are monitored by the Financial Sector Conduct Authority (FSCA). This regulator released a warning about Mirror Trading International telling people not to invest any money into the program as it’s not authorized to handle these type of trades.
If the company is not authorized to deal with securities that means they are not trading lawfully on the global market. If the company offers securities in other countries it needs to authorized by the regulators of those countries as well.
As of this writing, the only valid income stream coming into the company is via their recruitment program. This is a big alarm bell and it’s goes against the FTC’s guidelines that MLM companies should adhere to.
As per the above guidelines, multi-level marketing companies should base the bulk of their incentives on recruitment. MTI does not provide any real products or services and as such, is a cause for concern in the eyes of the FTC.
In August 2020, the company published a statement that FX Choice would be their broker, however, that arrangement didn’t last very long. FX Choice blacklisted Mirror Trading International after just a few week following an investigation of the business which revealed that it’s nothing more than a MLM pool that utilizes heavy-hand marketing tactics to sign up members.
You can find more datils about their investigation here.
How To Profit with Mirror Trading International
Mirror Trading International offers 2 options to profit through their compensation plan:
- Return On Investment from the money that you invest into the pool of funds.
- Commissions earned from recruiting and creating your own team.
Getting Started With MTI
You need to invest at least $100 USD. However, Mirror Trading International will ask you to pump more money into the program to maximize your profits from the compensation plan, supposedly.
You will be awarded more commission from your downline if you invest a bigger share of money.
To access the whole compensation plan you need to invest a whopping $10,000 USD.
MTI Compensation Plan
MTI’s compensation plan is relatively straightforward to grasp.
MTI Recruitment Commissions
You’ll receive 10% of the funds invested by people that you recruit.
MTI Residual Commissions
You be awarded residual commissions from the profits of your downline. The commission is calculated using a binary structure.
Your residual income will depend on the amount of funds that you invest. Again, you will make more profit from your downline if you invest a larger amount of money.
- Earn from a maximum of 10 levels down if you invest $200 to $999
- Earn from a maximum of 20 levels down if you invest $1000 to $4999
- Earn from a maximum of 30 levels down if you invest $5000 to $9999
- Earn from unlimited levels if you invest $10,000 or more
The company also puts aside 20% of all the revenue earned and pays each members a commission according to how many people they’ve recruited or the amount of money invested by their downlines out of that 20%.
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Mirror Trading International Exposed!
1). No Actual Retail Products
The company doesn’t offer its members any products or services to promote as part of the compensation plan. Therefore, the only way to profit is by recruiting more people.
This is the basis of a pyramid scheme!
2). Unauthorized To Offer Securities
MTI is unauthorized to handle securities. The company is not registered with the regulators, which means that they’ve not been vetted to handle your money.
I don’t know about you but I wouldn’t be handing over my money to an inexperienced and unregulated company to trade on my behalf. MTI was even banned by their broker after just a few weeks of partnering with them.
3). Blatantly A Ponzi Scheme
Mirror Trading International is designed to be a pyramid scheme where the entire revenue source is dependent on recruiting.
We’ve not been provided with any evidence that the company is actually placing trades or investments to generate profits beyond recruitment.
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Advantages of Mirror Trading International
Sorry folks! Mirror Trading International is not a legitimate business and as such, there’s nothing to gain from this program.
Is Mirror Trading International a Scam or Legit?
Mirror Trading International is an outright scam. If you’re hoping to invest some money and make a profit, I would recommend looking elsewhere.
- MTI does not offer any actual products and there’s no proof that the program is generating profits from anything else except the new memberships. These are the type of companies we are advised to steer clear of by the FTC.
- They are not authorized to handle investments or trades on your behalf. It’s only a matter of time before this company either collapses or is shut down.
I’d strongly recommend staying away from Mirror Trading International.
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.
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Here are my reasons why…
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An Amazon FBA business can help you to…
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