If you’re looking for a detailed Tradera review, then you are in the right place!
I’ve seen a ton of people talking about this Forex opportunity so I wanted to take a closer look for myself to see if it could be an incredible opportunity to join or a complete waste of time.
**MAJOR Tradera update (12-20-2020) that I have posted for you below!
I’ve taken the time to research and then review the information about the company, the products they offer, and how the compensation plan works to present that information for you here today.
The last section of my review will reveal what I think about this opportunity and if I think it is a scam or not.
If you are thinking about joining the Tradera Forex opportunity, then you are going to want to read my 5 reasons why I quit Tradera below along with discovering what my better alternative opportunity to Tradera is!
With that said, let’s dig in and see what we can learn about it.
So, What Is Tradera Forex?
Tradera is a Forex education opportunity that will help you and teach you how to make money on the Forex trading money market.
It is also an MLM company that will give you the ability to earn even more money.
To be honest, at the time of this review, there is not that much information about who runs the company on any of their company pages.
This would have to be a negative for me because I like to research the background to see what kind of experience that the owner has in business and with the product that they are selling.
Alright, so here is an update, the company website was updated with the owner’s information.
One of the founders of the company is Kody Sell, and the other found is Eastan Harris.
I was able to find additional information on some of the marketing videos that say the owners have a ton of experience in Forex and the trading market and are considered professional traders and teachers of trading.
At the time of writing this review, I have to say that the company is fully running but they are still in their pre-launch phase so I am hoping more information about the company will come soon.
According to the company website they are located in Dallas, Texas, and yes, they do supply a contact phone number and email just in case you need to contact support.
That is all of the information that I was able to find out about the owner or who is running the company so let’s continue.
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**MAJOR Tradera Update 12-20-2020!
I just got the news in a corporate email that was sent out to me that Tradera has shut down operations!
Here is an image of part of the email I received…
In the next section of my review, I cover some of the issues that I personally went through that lead me to believe these are the main reasons that ultimately caused the shutdown.
It’s always sad to see a company that had a ton of potential shut down and it doesn’t bring any good emotions to report this unfortunate event even though I experienced several bad issues with Tradera that lead me to lose a lot of money with them.
I can only say at this time that I really do wish the owners the best in the future because I really don’t think they are bad guys, I think they were just in over their heads.
Also, I feel really bad for the members that really loved Tradera and felt let down, trust me, I know how you feel!
Why I Decided To Join and 5 Reasons Why I QUIT Tradera
After taking a long look at the business model, the products, and the compensation plan design, I was blown away but had to observe for a few weeks before jumping in.
I learned more about how powerful the company’s compensation plan and that you can structure your Tradera business by helping others.
I became very excited and decided to take action so I decided to jump in Tradera and get to work!
My whole philosophy that I want everyone that joins me and my team is to have the “People Helping People” concept which I feel is so powerful and is actually doable with how this compensation plan is designed.
Fast forward a couple of months…
Well, the first thing that I noticed was that the payment processor was through Stripe which was a horrible, choice.
- The first issue that occurred was that Stripe had closed Tradera account so no payments could be taken or sent out. To the credit of the company, they were able to get back up and running with a new payment processor in about 7 days and they started to pay out commissions in a couple more days after.
- The next issue happened with repayments and people not renewing their monthly subscriptions. I wouldn’t put the blame totally on Tradera for this one, but it did hurt many teams downlines out there because of the lack of communication from the company.
- The next issue was the site itself, it wasn’t designed to maintain growing traffic and member base, it started getting slow and glitchy.
- One of the glitches that were always present was the payment gateway where new members ready to get started would run into an error after error, and it still wasn’t fixed when I left.
- There were more serious issues that occurred that I will leave for a private discussion, but the last straw issue was that their system got hacked and member’s card information was stolen and used to buy random stuff. This issue was 100% on the company for not securing their own company website and is the last straw reason why I left.
And let me tell you, all of these stupid issues cost me a lot of lost money which was totally infuriating which I am sure goes for the rest of the members.
Luckily, some of the top leaders saw where this was happening early and worked with others to start an alternative opportunity that offered many of the exciting aspects that Tradera offered but at the same time leaving everything that didn’t work or caused issues out of the equation when creating the new company.
This company is doing it right, offers a TON more value, and on top of the value they offer, more money to pay you in commission!
So I decided to leave Tradera, join the “better alternative” and start helping my team members there.
What Products or Services Does Tradera Forex Offer?
In this section of my Tradera review, I am going to cover the products that the Tradera opportunity offers.
According to the company website, they offer an education platform, live and recorded trading sessions with trading professionals, trade alerts, and market forecasts.
The company sells these services to retail customers and its IBO members.
Here is a look at what they offer their customers and members.
The trading education that Tradera offers is all about taking the new person from step A to Z.
This Forex training covers all of the basics all the way through to the advanced trading techniques and strategies.
This platform will be formated in videos so that everyone can follow along and understand what the training topics are covering much better.
There are also quizzes and homework assignments that are designed to test what you have learned in these courses throughout your Forex Trading educational journey to make sure you understand each topic.
Tradera also offers its members trade alerts that will be sent out by experienced traders that will include stop loss, take profit, and management information.
This will ensure that all of Tradera’s members will be up-to-date with all of the professional trader’s insights and tips.
Live Trading Sessions
You will also be able to participate in live trading sessions through webinars with your membership.
Watch over-the-shoulder of a trading professional as they are trading in real-time.
The markets that they will cover will include New York, Asia, and London.
Another perk for being a Tradera customer is a weekly market forecast.
The owner will actually record a weekly analysis and share with you some technical and fundamental updates that you will want to know when you start trading.
He will also discuss any upcoming trading opportunities and biases so that you can take advantage of them.
The fundamental analysis is a weekly update that includes current economic data and any important news that can affect any of the major asset classes.
Tradera Company Events
Just like with most other bigger MLM companies, Traders also will host company events.
This is where any member will get an invite to their company event where they will discuss and focus on trading, leadership, and marketing.
It is also a great way to network with other like-minded people and to see the vision that the company has on display.
Usually, there will be food and drinks that you can have with a good company presentation which is always a plus.
That’s all there is to the services/products that Tradera Forex offers.
With that said, let’s learn how you can start earning money with the compensation plan.
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How Does The Tradera Forex Compensation Plan Work?
In this section of my Tradera review, I am going to share with you the information about how the compensation plan works and how you can make money with the Tradera Forex opportunity.
One of the things that make this opportunity so lucrative is how you can make money with Tradera.
After taking the time to look at the ways that you can make money with Tradera and then compared to 90% of the MLM companies that are out there, this one has to be one of the best if not, the top 3!
There are 2 ways that you can make money with Tradera which are:
- Referral Commissions
- Forex Commissions
Before you can start making money with Tradera Forex, you will need to get started as an affiliate member.
In order to start making money with Tradera, you will need to become an affiliate member.
There are 2 ways that you can join as an affiliate member, but the most lucrative game plan is to become a customer and an affiliate member with only 1 package level cost.
The membership cost will be monthly and has special incentives when joining as a customer and affiliate which is the most lucrative way to join.
You can find the cost to join Tradera below in my FAQ section.
In order to reach a higher rank in the company, you are required to maintain a monthly purchase on the Premium Membership.
The main aspect of increasing your rank in the company is by building a team, but this is a bit different than most of the traditional MLM companies that are out there.
Building a team consists of helping your team sponsor 3 people. By doing this, their monthly membership cost is free.
Also, if they are able to get their three people within 28 days they can get a $150 bonus.
**Update: the $150 dollar bonus for the Founder rank expired but it now does not matter if it takes you 1, 2, or on your 4th month to get your 3 personally recruited members, your Founder, and your IBO monthly fee will be free.
Each rank is based on 3 legs that you will need to grow with more active affiliate members to qualify for a higher rank.
Building a team is very typical in any Network Marketing company’s compensation plan.
With that said, let’s breakdown each rank that the company offers and how to qualify for each one:
- Founder – To qualify for this rank, you need to maintain 3 active members on 3 legs.
- Night – To qualify for this rank, maintain 4 active members on your first leg, 4 active members on your 2nd leg, and 2 active members on your 3rd leg.
- Knoble – To qualify for this rank, maintain 10 active members on your first leg, 10 active members on your 2nd leg, and 5 active members on your 3rd leg.
- Bishop – To qualify for this rank, maintain 30 active members on your first leg, 30 active members on your 2nd leg, and 15 active members on your 3rd leg.
- Duke/Duchess – To qualify for this rank, maintain 100 active members on your first leg, 100 active members on your 2nd leg, and 50 active members on your 3rd leg.
- Prince/Princess – To qualify for this rank, maintain 200 active members on your first leg, 200 active members on your 2nd leg, and 100 active members on your 3rd leg.
- King/Queen – To qualify for this rank, maintain 400 active members on your first leg, 400 active members on your 2nd leg, and 200 active members on your 3rd leg.
- Emperor/Empress – To qualify for this rank, maintain 1,000 active members on your first leg, 1,000 active members on your 2nd leg, and 500 active members on your 3rd leg.
- Legend – To qualify for this rank, maintain 2,000 active members on your first leg, 2,000 active premium members on your 2nd leg, and 1,000 active members on your 3rd leg.
Here is a compensation plan chart on how each rank qualification looks like:
One of the most exciting parts of the company is the referral compensation plan because of how powerfully profitable it is but also simple at the same time.
Now, some of the aspects of a traditional MLM compensation plan are not included with the Tradera comp plan, but the lack of these bonus commissions is made up by how much the compensation plan pays out in commissions in my opinion of course!
In the first part of earning referral commissions, you will want to recruit 3 members within 28 days.
3 And Free Bonus
When you do these 3 things happen, you will qualify for Founder rank, your monthly cost is free, and you will earn a $150 bonus. (that was a limited time bonus and not available anymore)
If you get your 3 personally recruited members after your first 28 days, you will still rank as a Founder, and your monthly membership will be free but you won’t earn that bonus.
The 3 and free is only for the Founder rank, but when you reach the next rank, you will earn more than enough to cover your monthly cost.
The residual commissions that Tradera offers are offered only when you increase your rank.
Each rank will give you a higher residual income and the increase is substantial.
Here is what you will earn based on rank:
- Founder – When you qualify for this rank you will earn a free monthly membership.
- Night – When you qualify for this rank, you will earn $125 per week.
- Knoble – When you qualify for this rank, you will earn $250 per week.
- Bishop – When you qualify for this rank, you will earn $500 per week.
- Duke/Duchess – When you qualify for this rank, you will earn $1250 per week.
- Prince/Princess – When you qualify for this rank, you will earn $2500 per week.
- King/Queen – When you qualify for this rank, you will earn $5000 per week.
- Emperor/Empress – When you qualify for this rank, you will earn $12500 per week.
- Legend – When you qualify for this rank, you will earn $25000 per week.
**How To Maximize The Comp Plan – “My Tradera PIF Strategy”
After you are able to recruit your 3 personally recruited members, I would start giving any new sign-ups that you get to the team members in your downline that need them to qualify for the “3 and it’s free” the first rank of Founder.
Because this company does not have a fast-start bonus and you make more money when your 3 legs grow deep.
It just makes sense to do it that way because when you help people get there 3, and your team members help their team members get there 3, no one is going to go anywhere and you will eventually grow a very large team.
As you can see above, the larger team that you have especially with this tactic fueling the production, the more money that you will earn on a monthly residual basis!
Because Tradera has forex education and signals that they chare with members as you can see in the products section above, you can start learning the skill of trading in the forex market to earn even more money.
That is all I got on how you can make money with the Tradera opportunity and how the compensation plan works.
It’s really simple and no hoops that I can see that you have to jump through.
Make sure to read why I quit Tradera above.
Now, let’s continue to the next section and answer some questions.
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My Tradera Forex FAQ Section
In this section of my Tradera review, I am going to answer some of the questions that people may have when thinking about joining Tradera.
Is Tradera Forex BBB Accredited?
No, at this time, Tradera is not BBB accredited.
Now, one of the things that most people are not aware of is that the Better Business Bureau is not a government-run or operated website.
What this means that the BBB website is actually a privately-owned site and it is actually not official.
So, when I do my recommendation in the last section of my review, I base that recommendation on ALL of the information that I was able to find on the company website and online.
I only can take the information at face value and from other trusted resources say and of course, my own judgment.
What’s The Cost To Join Tradera?
The minimum cost to join Tradera to become a client member is $99 to start and $99 every 28 days.
In order to take full advantage of what Tradera Forex offers, you will need to join add the $15 per month option to become an IBO after you get your 3 which is the client membership and the IBO membership.
Upgrading to the IBO option along with the Client membership will qualify you for the free monthly bonus and commissions when you reach the next ranks.
Here is what the cost breakdown is:
- Premium Membership – The cost for this membership is $114 every 28 days (includes both the IBO and Client memberships)
- Client Membership – The cost for this membership is $99 every 28 days. (this is what you will pay to start)
- IBO Membership – The cost for this membership is $15 every 28 days.
Another thing that is interesting and also what I really liked when researching for my Tradera review is that there are no other packages that you need to purchase or upgrade to make more money with their comp plan.
Additionally, by getting just 3 people on your first level, your monthly cost is free which is a great thing!
Is Tradera Forex A Scam or Legitimate Opportunity?
In my opinion, no, Tradera is not a scam.
The company offers everything they need in order to be in compliance with the MLM laws in the US.
They have a great service product and an awesome compensation plan that does take work but is easy to understand and is fair.
However, the company has many issues with their website, their merchant accounts, and some of the transparency.
At this time, I would not advise moving forward with them. But who knows what the future holds, the company might be able to recover and become a strong contender but as of right now, it is a hard pass for me.
With that said, let’s finish up.
My Final Tradera Review, Recommendation, and Thoughts
In the final section of my review, I am going to share my thoughts and recommendation about the Tradera opportunity as a whole.
I have taken the time to research and review the information about the company, the products, and the compensation plan.
I have also shared my thoughts on why I don’t think that Tradera is a scam and gave you my reasons why above.
At this point, you should have a good idea about what Tradera Forex is, how it works, what they offer, and how you can make money with them.
What are your thoughts about the opportunity?
Leave your comment below.
But here is the question…
Do I Recommend Joining The Tradera Opportunity?
At this point, you have all of the information you need in order to make an educated decision to join or not.
If you were to ask me if I would join Tradera, I would say yes!
I have reviewed 100’s of companies and programs and I can confidently say that Tradera is my #1 recommended work from home opportunity for 2020.
I am forming and building a powerful team where everyone that joins my team makes a simple commitment to just recruit at least 3 people whether you get your 3 or if you get them from me or your upline.
People helping people… I love it!
By doing this simple action and apply the commitment, would cause so much synergy and would result in helping so many, make a significant amount of money each month.
With that said, I hope you enjoyed my Tradera review.
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Thank you for your support!