Is My Passive Trades a Scam? Read This Before You Invest!
If you're an entrepreneur who wants to drive traffic to your website and you want to invest in cryptocurrency at the same time to earn passive income, then you might find My Passive Trades intriguing.
Maybe you've read about it already on Facebook or you saw its introductory video on YouTube and you're wondering if My Passive Trades is a scam.
If that's the case, you've come to the right website! We're going to discuss all things about My Passive Trades, as well as whether it is a scam or not.
My Passive Trades Summary
Product: My Passive Trades
Price to join: Free
Do I recommend? No
Summary: My Passive Trades is a cryptocurrency trading platform that offers passive income to its investors who will purchase its passive trade packs. Apart from crypto trading, it also offers to drive traffic to its member's websites.
My Passive Trades is not just a trading platform. You can also get paid to promote the website and its products to friends so you can earn commissions.
But the platform has a multi-level marketing strategy and its owner has a long history with scam ventures, so you're really going to take risks if you want to invest your hard-earned money in it. Do I recommend it? The short answer is no.
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What Is My Passive Trades?
There are two things you are interested in: first is driving traffic to your languishing website and second is to make more money with cryptocurrency trading. If so, then My Passive just might be your thing.
My Passive Trades is a trading platform based in the United Kingdom. It offers multiple ways for its investors to earn money. If you're an entrepreneur and you want to drive traffic to your website, you can invest in My Passive Trades cryptocurrency trading program and accomplish your goal at the same time.
You can withdraw your revenue from crypto trading anytime OR reinvest them for ad credits on the My Passive Trades website to drive traffic to your website. Some of the ads you can buy here are login ads, PPC ads, text ads, and more.
Apart from trading activities, you can also promote the site's trading school through its affiliate program. You can earn as much as 8% for every first level recruit you make.
But unlike other websites that offer a detailed explanation about their products and services, you'll be disappointed to find that you're on your own here. There is no adequate information about what it offers and how you will get paid. The best resource you can find is a video where My Passive Trades owner explains how members are going to "profit" by joining the site.
Speaking of the owner. The man behind this website is Darren Bradbury who, according to some websites, also goes by the name of Darren Riviera. Prior to launching My Passive Trades, Bradbury was also connected with some questionable ventures.
These questionable ventures include My Ad Story, My 24 Hour Income, Leased Ad Space, Zarfund, GiftoBit, and Stiforp. He was also embroiled in cryptocurrency schemes such as Powerhouse Mining, Powerhouse Feeder, and Powerhouse RevShare.
Bradbury launched a platform called Chatabox in 2018. According to the website, the website is a social media platform, but its full of blog posts about how to earn more money online and other similar content. (Funnily enough, the 'History' section of the blog contains a My Passive Trade article and couple of cryptocurrency articles.)
On the 25th of January 2018, Mr. Bradbury incorporated a company called Polaris Universal Ltd. in the English town of Yeovil. Polaris Universal LTD is the trading name of My Passive Trades. Other incorporators include Ahmed Nabil El Amrani, Lidija Ikasovic, and Eldon Carvalho Vaz Conceicao (who had since resigned). Everyone, except Bradbury, lives overseas.
How Much to Join My Passive Trades?
You don't have to pay any registration fee to join My Passive Trades. Just create an account and you're good to go.
But if you want to invest, you'll need to pay $5 for every My Passive Trades crypto trading pack. By the way, you can fund your investment with Bitcoin only. You can also withdraw your earnings in this cryptocurrency too.
What is My Passive Trades Compensation Plan?
My Passive Trades subscribers who purchase crypto trading packs will get a 1.25% return every day. These trading packs will expire after you receive a 125% return (approximately 125 days according to this blog post). Subscribers have the option to repurchase the packs to keep the cash flow running.
Affiliates, on the other hand, will earn 8% commission for every level 1 recruit they sponsor. The commission goes down to 3% for every level 2 recruits. You'll receive your very own link to share on your social media pages after you register.
According to the website, Trading School Commissions begin at 50%.
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What Products Does My Passive Trades Offer?
My Passive Trade offers what its owner calls the passive trades pack. You can buy a single trade pack for as little as $5 each. Subscribers are initially required to buy at least a couple of trading packs to start earning.
The return on investment is pegged at 1.25 per day. But keep in mind that the trading packs expire after 125 days. After 125 days, My Passive Trades promises that you will receive a 125% return.
Another My Passive Trade "product" is its affiliate or multi-level marketing strategy. When you become a member, you can also share this opportunity with friends so you can earn additional income. You can earn 8% commission on the first level, and 3% on the second level.
You need to invest funds to become a My Passive Trades affiliate. Your investment comes with advertising credits which you can redeem later on. Once redeemed, you can use them to advertise your company or website or products/services on the My Passive Trades website.
My Passive Trades also has a Trading School that has two mentoring levels. The first plan is the Mentoring Level 1, a position which costs $99.99. The second plan is the Private Mentoring VIP which costs $450.
What I Like About My Passive Trades
My Passive Trades is not exactly the best trading platform out there, but that doesn't mean there's nothing positive about it.
* Registration is free (and hassle-free)
One great thing about My Passive Trades is that you don't need to pay anything to register. But keep in mind that you will only create an account when you register, and you'll have to invest before you can earn revenue.
* Daily earnings are made public
My Passive Trades has publicized the earnings its members make on the website to lend the platform a touch of credibility. But whether they are real or not, no one (except for the website owner himself) knows if they are real.
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What I Don't Like About My Passive Trades
Here are some of the things I didn't like with My Passive Trades.
* Inadequate information about the company, the owner, and its administrators
My Passive Trades has a decent looking website that's surprisingly easy to navigate and does not look cluttered. But the website contains just the briefest information about the company and even the persons behind it.
You'll need to go to the UK government's Companies House to know the people behind this website, as well as the business' address. Although it has been registered with the UK's Companies House, it has not been registered with the country's Financial Conduct Authority (the equivalent of the US Securities and Exchange Commission). There's virtually no one to regulate the business and protect you in case of fraud.
Maybe you're fine with not knowing about who's behind a business or its address as long as you earn a lot, but this can be problematic once the business goes south or when the MLM side of it collapses and the person behind it runs off with the money you invested.
* Bradbury's association with scams
Darren Bradbury, the company's owner, has a long history of being associated with and promoting scams such as Powerhouse Feeder, My Ad Story, My 24 Hour Income, and Stiforp. Plus, My Passive Trade also has a lot of red flags, so it's best to look for other sources of passive income if you really want it.
* It has a multi-level marketing strategy
The problem with My Passive Trades is no one really knows how Bradbury and his team invests the money. The presence of a multi-level marketing strategy or MLM makes it all the more suspicious. It is very likely that the revenue the affiliates earn are just paid by the person they recruited. When My Passive Trades run out of people to recruit, it can be harder and harder to pay affiliates at the top of the tier until finally the scheme collapses.
Is My Passive Trades a Scam?
My Passive Trades promises its investors that it will drive traffic to their websites while providing a "passive income stream" with the help of its crypto trading activities. It is easy to register at the My Passive Trades website, and the fact that it is free makes it more enticing to investors.
But is My Passive Trades a scam?
It is still a relatively new platform so everyone's been singing its praises. But there are a few red flags prospective members should watch out for including the lack of sufficient information about the website and the owner's rather shady past.
Its multi-level marketing strategy is something you should watch out for as it could collapse anytime when the platform runs out of people to recruit. Do yourself a favor, and look for better programs and platforms that can help drive traffic to your business or give you a truly passive yet reliable income.
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