FarGlobal masquerades as a professional Crypto investment platform. Unfortunately, it provides no information on its website about who owns or runs the business and this makes it quite suspicious since most websites that operate this way have scammed people at one time. FarGlobal’s website domain (“farglobal.me”) was privately registered on April 23rd, 2019. If you visit FarGlobal website, you’ll notice the prominent logo is for TradeVIM. TradeVIM has its own website, and as far as I can tell is the name of the FarGlobal’s supposed trading platform.
TradeVim’s website domain (“tradevim.com”) was privately registered on December 5th, 2018. Research into TradeVim lead to me to a YouTube video, which identifies a “Joe” as creator of the platform. Joe is supposedly based out of San Francisco, California.
We couldn’t find Joe’s surname, or any external information tying Joe to FarGlobal or TradeVIM. Thus I’m taking claims made in the video with a grain of salt. As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. We strongly believe that this is an outright fraud. If you want to invest in legit trading tools for Crypto currencies, use the products or services found on this page.
FarGlobal has no retailable products or services, with affiliates only able to market FarGlobal affiliate membership itself. FarGlobal’s Compensation Plan involves the following:
FarGlobal affiliates sign up and purchase 60-day TradeVIM licenses. Commissions are paid when they recruit others who do the same. TradeVIM licenses cost $697 and need to be recharged every sixty days for $149. Note that FarGlobal’s compensation plan material cites a $499 TradeVIM license cost. I’m going with the $697 figure quoted on their website. Purchase of a $499 TradeVIM license by a recruited FarGlobal affiliate generates a $120 commission.
👉 Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2012! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020. If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.
The recurring $149 fee generates a $37.50 commission on each payments. The residual side of the business pays a 20% match on commissions earned by personally recruited affiliates.
What are the FarGlobal Affiliate ranks? They are as follows:
There are three ranks within FarGlobal’s compensation plan. Along with their respective qualification criteria, they are as follows: Affiliate – sign up at a FarGlobal affiliate. Gold TradeVIM – recruit two affiliates and generate 5000 GV in downline sales volume (max 2500 GV from any one unilevel leg). Platinum TradeVIM – maintain two personally recruited affiliates and generate 10,000 GV in downline sales volume (max 5000 GV from any one unilevel leg)
Platinum Match Qualified – recruit and maintain two Platinum or higher ranked affiliates. Note that the above qualification criteria must be maintained over a rolling 60-day period.
FarGlobal pays a generation bonus via a unilevel compensation structure. A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team. If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels. FarGlobal defines a generation within the unilevel team when a same or higher ranked affiliate is found in a unilevel leg.
This affiliate caps off the first generation of that leg, with the second beginning immediately after. If a second same or higher ranked affiliate is found deeper in the leg, they cap off the second and generation.
The third begins after them and so on and so forth.Using this generation structure, Far Global pays a generational bonus based on rank as follows:
Gold Trade VIM affiliates earn a 20% commission on up to one Gold generation per uni-level leg.
Platinum Trade VIM affiliates earn a 20% commission on up two Platinum generations per uni-level leg
Platinum Match Qualified affiliates earn a 20% commission on up to three Platinum Match Qualified generations per uni-level leg.
Upon qualifying at the Platinum Match Qualified rank, a FarGlobal affiliate is paid a $120 one-time bonus and $149 Trade Vim license voucher.
FarGlobal affiliate membership is tied to the purchase of a $697 TradeVIM license. An ongoing $149 maintenance fee is also charged every sixty-days.
FarGlobal markets TradeVIM as a “cryptocurrency trading platform”. A FarGlobal marketing video suggests TradeVIM is a bot that affiliates attach to a trading account.
The bot passively trades on behalf of the FarGlobal affiliate, and thus a return is received over 60 days. Given access to the TradeVIM bot and generated returns are provided through FarGlobal, a third-party, this constitutes a securities offering.
In order to operate legally in the US, where “creator” Joe is supposedly based out of, both TradeVIM and FarGlobal need to be registered with the SEC. A search of the SEC’s Edgar database confirms neither company is registered. There is also no indication that FarGlobal has registered itself with Canadian securities regulators.
This means that, irrespective of anything else, FarGlobal is operating illegally in the US and Canada. Furthermore with there being no retail offering within the company, FarGlobal also has a pyramid component. The “trade from your own account” scam model sees trades manipulated by the company offering access to the bot. In this case that’s FarGlobal through TradeVIM.
When the time comes to exit-scam (too many withdrawals), the bot owners rig trades in their favor and cause widespread losses. And if you really want to get into the meta of a trading bot MLM offering, ask yourself why, if such a bot existed, the owners of it don’t just quietly run it themselves.
This appears to be a multi level marketing operation that has nothing to do with trading. Anyone who joins this scam will definitely regret the decision but the good thing is that you don’t have to be persuaded to join. There are far better products out there that can help you make a lot of money over time.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More