Mirror Trading International operates in the Forex trading MLM niche instead of investing in the real deal. The company is incorporated and based out of South Africa. Heading up Mirror Trading International is CEO and founder Johann Steynberg. Prior to founding MTI, Steynberg (right) was promoting Syntek Global.Based on his Twitter account activity, at some point Steynberg took an interest in cryptocurrency. Earlier this year Steynberg was advertising a “turn $25 into $75 over and over again” opportunity on Twitter.
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Back to investing $25 and turning it to $75 over and over again. And we guess that this didn’t work out. Read on for a full review of Mirror Trading International’s MLM opportunity.
What exactly is MTI? According to the statements published on their site, the platform is described as follows:
We are both a trading and networking company. On the trading part, the system of MTI utilities advanced trading software with built in artificial intelligence that dynamically adjusts to trading and market conditions.
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The system is fully automated and you can sit back and relax and receive your daily statements, detailing the results of the trades for the day.
How do they operate? within 24 hours. According to the site, once your account is funded, it will be linked and trading will commence. Once this has commenced, they claim to compound returns so that accounts can grow bigger and bigger. You are free to deposit into your account at any time. Withdrawals from MTI will be processed within 24 hours and the member will receive their funds via BTC within 48 hours
Mirror Trading International’s Products
Mirror Trading International has no retailable products or services, with affiliates only able to market Mirror Trading International affiliate membership itself.
MTI’s Compensation Plans look as follows:
Mirror Trading International affiliates invest $100 or more on the representation of perpetual trading returns.
How long is the investment period?
The investment period is continuous and you will continue to earn profits as long as you keep the minimum balance of 0.01 BTC in your trading account.
Mirror Trading International affiliates earn a 10% commission on funds invested by personally recruited affiliates.
MTI pays residual commissions via a binary compensation structure. A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions). Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow. How many binary team levels does an MTI affiliate earns residual commissions on is determined by how much they’ve personally invested:
Residual commissions are calculated weekly, based on 20% of company-wide generated returns. Mirror Trading International states that of the 20% set aside, affiliates earn their share based on “the total business your team structure contributes”. Although not explicitly clarified, residual commission payouts are clearly based on binary team investment volume.
Mirror Trading International affiliate membership is tied to a minimum $100 investment.
Full participation in the attached MLM opportunity requires a minimum $200 investment.
Note that all fund transfers within Mirror Trading International (both paid and received), are made in bitcoin.
Mirror Trading International combines pyramid recruitment with a passive investment opportunity. Johann Steynberg doesn’t appear to have a Forex trading background, so it is unclear where and how Mirror Trading International is trading.
This is important because Mirror Trading International’s passive investment opportunity constitutes a securities offering. Securities in South Africa are regulated by the Financial Sector Conduct Authority.
Although Mirror Trading International might be incorporated in South Africa, neither the company or Johann Steynberg appear to be registered with the FSCA. This means that Mirror Trading International is operating illegally in South Africa.
Indeed if MTI is not registered with securities regulators in every jurisdiction where it solicits investment in, the company is operating illegally worldwide. The only reason they would opt to commit securities fraud is if they aren’t doing what they say they are. Namely paying returns from trading revenue. art of securities regulator registration is providing audited accounting demonstrating trading revenue being actually used to pay returns. MTI would also have to make disclosures regarding what happens to investor funds to their investors and the public.
Again, this is not optional. By failing to register and providing disclosures, Mirror Trading International is committing securities fraud. As it stands the only verifiable source of revenue entering Mirror Trading International is new investment.
Using new investment to pay existing affiliates a daily return would make Mirror Trading International a Ponzi scheme. The math behind Ponzi schemes guarantees that when they collapse, the majority of participants lose money. And even if it does not collapse, many people will be losing money because they have to take money from investors to make payouts.
This investment scheme is a scam as you can see. To become a member of the MTI club, you are required to open an account with MTI using the registration link on the page. Alternatively, investors are required to use the special link provided by a person who invited them. This kind of investing is quite dangerous and people must never deposit funds to such a trading scheme as there is no assurance of trading and definitely no guarantee of returns. If you want to trade professionally, visit this page.
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