Yes, trading forex can be very lucrative but it can also be very risky. Is it worth signing up to Mirror Trading International to find out how it's done?
You’ll get the answer to that very question in this review. We're going to take a look at the pros as well as some of the red flags you need to be aware of.
If you want to make money online and break free from the 9-5 grind then keep reading.
Mirror Trading International Review At A Glance
About: Mirror Trading International is an online investment platform that uses artificial intelligence to trade, or so that’s what they claim…
Price: Minimum $100 investment required.
Pros: None that we can think of.
Cons: Hyped up earnings claims and over-emphasis on recruitment.
Verdict: This looks and smells like a Ponzi and definitely not something we would recommend. Proceed with extreme caution.
The truth is no one can ever claim success in the forex markets or any other. Unless you’ve invested countless hours into studying trading then you’re just gambling with your money.
There’s just way too much emphasis on recruiting for Mirror Trading International not to be a pyramid scheme.
Sign up and you might make profits in the beginning, but it’s only a matter of time until the whole house of cards collapses in on itself in the same way BitConnect and so many other Ponzis have in the past.
What is Mirror Trading International?
Mirror Trading International is a forex and cryptocurrency MLM that was started by Johan Steynberg in April 2019. Their head office is located in South Africa.
Other than his name being mentioned on the website, there’s no other info about the guy other than he’s formerly connected with Syntek Global. There are no credentials to convince us he’s an expert in the forex field.
It should strike you as odd that he tells us very little about himself….
Then there's the appalling website design:
I don’t think this Johan guy has enough income to hire a marketing strategist or a web developer. I’m telling you, one look at the website and you’ll start asking yourself if this is worth your time. It’s just boring and dull and doesn’t stand a chance in convincing people to take invest in this so-called opportunity.
Advice for MTI: Hire a web developer!
And dere’s a statement that grinds my gears:
My guess is they’re banking on this statement to push you to make a move. If that’s the case, they’re doing an awful job.
How To Get Started With Mirror Trading
First you have to sign up using this form:
Then you’ll be required to invest a minimum of $100 which they claim to put in the trading market to grow.
Mirror Trading International Products
Although it’s an MLM, Mirror Trading International has no products. This is a big problem in most countries. Take for example UK and USA, without products, the FCA will run after you in UK and the FTC if you’re in USA.
If this was a legit trading opportunity, these countries will definitely have a lot of people signing up for it. Without the license will only mean the money-making activities are illegal.
How Does Mirror Trading Work?
This company claims to use the funds you put in while signing up to trade in the forex market. Their trading bots will then do the trading for you and give your income afterward.
But get this:
There’s no real-time proof that trading is really happening. Although there is a daily report provided, it doesn’t confirm that the trade happened because even the daily report cannot be proved legit.
Other than trading you can also earn from referral bonuses and binary bonuses.
Recruit people into joining Mirror Trading International and you earn 10% in commission from each person.
The funny thing is, the company encourages you to make more recruits than to invest more in trading.
Where do you hear a company putting more emphasis on recruiting than in investing? In Ponzi schemes, that's where.
You can also earn from residual income when your recruit is also able to recruit others, the more people in your downline, the more money you will make.
Usually what happens with opportunities like this is the registration investment is used to pay up earlier members making it look like it came from trading income. In reality, there’s really no trading happening, just new recruits squeezed for cash.
What I Don’t Like About Mirror Trading
1. No Trading Proof
Mirror Trading International failed to give any evidence that there's any real trading going on. Even the daily report cannot be trusted to be legit.
2. No Trading ROI Guarantee
While this disclaimer may sound like a good thing because the company is not overly-hyping its claim, it’s just another way of saying you can’t get your money back.
Plus, this statement only pushes investors to rely on making more recruits to earn.
3. No License To Trade
The website shows a registration number in the About Us section. Sadly, there’s no way to verify if it’s legit. They will still need a license from regulatory bodies in the countries where it does trading.
Even from their home country, they were not able to get a license from the Financial Sector Conduct Authority.
So be careful if you decide to join Mirror Trading International, you might need to face some jail time later on or pay hefty fees. (You’ll end up shedding more money than earning some if that happens)
The thing with illegal companies is this:
You’re not sure if the company is giving you back what your trade deserves and if things go haywire, you won't be able to chase them for your money back.
A regulatory body will require a company to provide an income disclaimer and because Mirror Trading International didn’t see the need to provide this, it just shows there’s no regulatory body they’re complying to.
Remember, a license is not optional, it is REQUIRED. Without this Mirror Trading International can freely commit securities fraud.
4. Magical Bot That Floods Your Account With Cash
I hate to break it to you, but there’s no such thing. If there was, everyone would be rich.
This artificial intelligence gimmick is just a tactic to convince you to sign up. Many have fallen prey to this tactic. You should know better by now.
5. Mirror Trading Looks Like A Ponzi Scheme
It will only be a matter of time when recruits run dry and you'll end up seeing how this scam crashes before your eyes.
Watch this video to see how a Ponzi scheme works and see how similar it is to Mirror Trading International's compensation plan:
Can You Make Money With Mirror Trading?
For a time maybe. But remember that schemes like this only last until new recruits are made. You can’t get everybody to sign up for this, so you’re going to deal with a limited number of people.
And if they ever claim it’s sustainable, think again. It’s only been a year and a few months when this started, there’s no even a tiny proof for this.
Is Mirror Trading International A Scam?
It’s safe to say Mirror Trading is a scam. They give no iron-clad proof of any trading, they have no licenses to operate and we barely know its owner. There’s a big chance his name is just a front so that he can run away anytime.
If you want to make money online, you just don’t choose what can give you returns now but in the long run. Mirror Trading International can’t give you that assurance.
If you find positive reviews about them, they’ll only say they earned back from it that’s all. But earning from it alone does not make them legit nor sustainable. You’ll only end up in tears when this scheme goes under.
Mirror Trading Review: Closing Thoughts
Replace your day job income has to be done in a legit and sustainable way. With Mirror Trading International all you're getting is a trickle back for a few months to convince you to invest more.
Because there’s no ROI guarantee from trading, you’ll be forced to make more recruits so you can earn from commissions. Since it has no products, you’ll also have a problem of it being a Ponzi scheme and you’ll struggle to make new recruits regularly.
It’s just one disaster after another!
The end of this MLM’s story will end tragically, not for owner, but for YOU!
If you really want to make money online that will stay in the long run, you have to put in work and effort. You can’t just rely on a magical bot that doesn’t really exist!
The better choice is affiliate marketing because there's:
- No need to recruit
- Tons of products to promote
- Proven to stay in the long run
- Free training provided
- You can earn day and night
- No risk like forex
Check out my full Wealthy Affiliate review to jumpstart your affiliate marketing empire and get started on the way to make your online income goals a reality.
Hi I’m IG, nope not a kin of the social media; I’ve been IG since ’93. I’m 1 part writer, 2 parts reader and 3 parts puzzle nerd.