Eaconomy is an education and technology company providing skills training and helping people to achieve personal greatness with a unique focus on trading in the financial markets. This is a relatively new company that has been in existence for only a year.
The company also gives its clients the ability to earn money through referrals. Their referral program takes an MLM business structure but does not seem to provide any kind of product or service.
The company’s founder is Hassan Mahmoud. He has a history in MLM businesses and, sadly, not a very good one. He co-founded the MLM company SilverStar Live with convicted fraudster David Myer. They later had a falling out, and the company headed towards collapse. The company has since rebranded to AI Expert Advisor, and we suspect David is still the one running it.
After the falling out, Hassan Mahmoud later founded Eaconomy. Hassan’s wife, Candace Ross, is the CEO of the company, and their partner Sal Leto is the Vice president of the company. Sal also has a history with a few red flag companies like OneCoin and iPro Network.
Other team members include Adam Wenig, the Director of Sales, and their CTO, Bill Wynne. Not many details are provided about these team members.
Eaconomy claims to offer a variety of Forex trading bots. This is despite the team members having no verifiable trading histories. Companies that are run by experienced individuals always have the edge when it comes to Forex trading. Invest only with the top Forex trading bots with experienced owners for consistent profitability.
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Eaconomy claims to have launched a Forex software across the globe in a business model that will skyrocket profits, empower individuals, and create complex webs of teams. The company admits to being a network marketing scheme but wants you to ignore all the conspiracy and mystery that surrounds such companies. They claim that a lot of people are making six and seven figures off this business model, and you could be one of them.
The company offers three Forex trading bots that you can purchase. They include Traide Ringer, Traide Runner, and Traide Compass.Traide Ringer bot is the entry-level expert advisor version. The company explains that this bot creates a ring around the price like a wheel that rotates and captures profit as the wheel turns.
The Traide Runner is the expert advisor version of the bot. The company explains this bot can make over a hundred trades a day collecting small wins that add up like a scalper.
The final bot this company offers is the Traide Compass bot. This is the advanced expert advisor. It works by creating a ring around price like a wheel that rotates and captures profit as the wheel turns.
We can see the company recycling explanations for these bots, which is a worrying detail. These vague explanations the company provides are probably because there are no actual bots they provide.
Any company that operates the MLM business model is required to provide a product or a service for them to be considered legal. We fear these bots the company features on its website are fake, and the company only pretends to provide them so that they can be permitted to operate an MLM model.
Either way, this company only offers two bots and falsely presents them as three. Each of these bots is sold or $247 plus a $169 subscription fee each month. These bots will supposedly provide you with Forex signals that will make you rich in no time.
This company claims its team comprises of experienced professionals in the IT, financial, Media, personal development, and marketing Industries. They promise this team will provide clients with skills in trading and wealth management that can be passed from generation to generation and provide additional financial security to families around the world.
The company offers a networking program known as CEED. CEED stands for connecting, empower, elevate, develop. They claim that members of CEED will enjoy exclusive access to people who have achieved high levels of success in various disciplines and Industries. Every explanation from this company is extremely vague, and they do not seem to know what they are doing.
You sign up for the company by clicking to get started and paying the necessary charges. You then become an affiliate of Eaconomy. From there, you collect a guaranteed weekly amount that is generated from deposits made by people you refer to the platform.
You only get paid if you maintain a 55% retail customer volume on your first three recruitment legs, and after retail customers and affiliates purchase access to Eaconomy bots. A recruitment leg is created when you successfully recruit a member.
A $40 one time commission is paid when an affiliate’s fourth recruit makes their first bot subscription.
Clearly, there is no Forex trading happening in the background. This is the only revenue stream for this company. We fear this model is not sustainable, and the company will eventually collapse and exit the market.
Regulation and Fund Safety
Eaconomy provides no license to show that they are a regulated company. No company is allowed to collect funds from the public without licensing to perform financial transactions. Ensure you only invest with companies that are regulated by FCA, CySEC, ASIC, or any other reliable regulatory body.
Additionally, this company’s systems are unprotected from third-party interference meaning that your money is at risk of being stolen by hackers.
Can you trust Eaconomy?
This company has failed the test of legitimacy terribly. The first cause of concern with this company is the history of its team members. The founder is associated with co-founding a company with a convicted fraudster. This is an alarming detail.
The vice president Sal Leto has a history with the red flag companies OneCoin and iPro Network. An individual like this should not be holding such a high position in any company.
As if this is not enough, the CEO of the company Candace Ross was also a top team member on the controversial MLM company SilverStar Live.
The company does not reveal the strategies their bots use to generate revenue. They give incredibly vague explanations that are not in any way related to Forex trading.
Even if the company was trading in Forex, we would still require a record showing a successful trading performance to fully trust this company.
Another cause of concern is the fact that this company is operating unregulated, and their systems are unprotected from third party interference. Under these conditions, the company cannot assure you of fund safety.
The details provided here are enough to label this an illegitimate company. The company claims to offer a unique approach to Forex trading. However, they fail to reveal the strategies they use in this brutal market to produce the kinds of returns promised.
Only companies with a wealth of knowledge and experience can maintain profitability in this sector. Eaconomy’s team members have nothing to show for this. What they do have is experience and history with shady businesses. We cannot, in our right minds, recommend this company to you.
You need to be extra cautious when investing online. Invest only with the best Forex trading bots in the market to avoid getting scammed. Only such legitimate companies will provide you with the best environment to grow and safeguard your investments.
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