Youngevity’s foray into foreign currency trading popped up on BehindMLM’s radar again in January.
We didn’t have an organization title however knew Sal Leto was concerned. Leto’s previous raised a pink flag however we didn’t see something overtly out of compliance.
In July 2022 Youngevity’s foreign exchange providing was given the title 8 Minute Dealer. A launch date was finally scheduled for September 1st.
Simply over a month later and with the compensation plan now public, BehindMLM revisits 8 Minute Dealer for a proper overview.
8 Minute Dealer Company
8 Minute Dealer was launched as a part of Youngevity. Sal Leto heads it up however his precise company function isn’t clarified on Youngevity’s web site.
As acknowledged by Leto (proper) on a June twenty ninth 8 Minute Dealer advertising webinar;
I gave Youngevity an unique licensing settlement to my methods.
We now have a system the place we will take somebody who’s by no means traded earlier than and get them on a name with us, for 5 minutes, ten minutes a day, and assist folks obtain 5%, 10% and 20% positive factors on their account – in 5 or ten minutes.
Whereas 8 Minute Dealer is buried in a protracted checklist of “store” merchandise on Youngevity’s web site, the corporate itself does nothing to advertise.
Youngevity has a reasonably energetic FaceBook web page. I went by way of every submit again to August 1st – not one pertains to eight Minute Dealer.
Contemplating 8 Minute Dealer launched on September 1st, this comes off as fairly unusual. Not less than on the company degree, it appears Youngevity is hesitant to advertise its foreign exchange providing.
8 Minute Dealer’s Merchandise
8 Minute Dealer markets a alerts platform geared toward producing “just a few proportion per day inside simply a few minutes of buying and selling”.
8 Minute Dealer’s buying and selling is completed on the US30, also referred to as the Dow Jones Industrial Common – with a particular deal with the opening hour.
You obtain this onto your laptop, you’ll have the display screen arrange, you’ll have the ability to get out and in of the commerce by simply clicking a button.
The software program is MT4, and the sign vary offered is purportedly generated by AI.
In a nutshell, if the dwell chart enters the inexperienced space (between the dotted and strong inexperienced line), customers click on “purchase”. If the chart continues to development up, revenue is made.
Along with the first buying and selling alerts platform, 8 Minute Dealer additionally supplies entry to
- “morning calls”
- “Publish 8 Scalper” 24 hour alerts
- “superior buying and selling psychology academy”
- “digital marketer’s academy”
The Publish 8 Scalper is an Synthetic Intelligence oriented software program software, which runs on the MetaTrader 4 platform.
The software program is designed to detect robust traits throughout your entire spectrum of monetary markets, from indexes to foreign exchange, to metals and commodities reminiscent of Gold and Oil, and even cryptocurrencies.
Clients will even obtain a mixture of grasp class degree buying and selling training, together with groundbreaking psychology courses which can be sometimes utilized for prime web value, professional merchants.
Youngevity fails to supply data as to who’s behind the 8 Minute Dealer addons, making it tough for shoppers to make an knowledgeable analysis.
8 Minute Dealer retails at $599 after which $199 a month.
8 Minute Dealer’s Compensation Plan
8 Minute Dealer’s compensation plan is a modified model of Youngevity’s compensation plan.
8 Minute Dealer’s compensation plan pays commissions on the sale of subscriptions to retail prospects and recruited associates.
8 Minute Dealer Affiliate Ranks
There are seven affiliate ranks inside 8 Minute Dealer’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Gross sales Affiliate – refer and preserve three energetic prospects
- Senior Affiliate – preserve three personally referred energetic prospects (not a typo, rank qualification is offered the identical as SAA)
- 1 Star Govt – preserve three personally referred energetic prospects, have twelve prospects throughout your downline, recruit and preserve three associates and generate 5400 GV a month
- 2 Star Govt – have three unilevel workforce legs with a 1 Star or greater in them, have thirty-six prospects throughout your downline, preserve three personally recruited associates and generate 7500 GV a month
- 3 Star Govt – have 5 unilevel workforce legs with a 1 Star or greater in them, have sixty prospects throughout your downline, recruit and preserve 5 associates and generate 10,500 GV a month
- 4 Star Govt – have six unilevel workforce legs with a 1 Star or greater in them, have seventy-two prospects throughout your downline, recruit and preserve six associates and generate 27,000 GV a month
- 5 Star Govt – have 9 unilevel workforce legs with a 1 Star or greater in them, have 100 and eight prospects throughout your downline, recruit and preserve 9 associates and generate 43,200 GV a month
Notice that for rank qualification, 8 Minute Dealer solely counts exercise throughout the primary three ranges of recruitment. That’s required prospects, GV and recruited associates.
GV stands for “Group Quantity”. GV is gross sales quantity generated by an 8 Minute Dealer affiliate and their downline.
For reference, the preliminary sale of an 8 Minute Dealer subscription generates 600 GV.
The month-to-month charge GV isn’t particular however, primarily based on the preliminary charge GV, is believed to be round 200 GV.
To depend in the direction of rank qualification, prospects have to be paying their month-to-month subscription charge.
Clients may be retail prospects or recruited associates.
Referral Commissions
8 Minute Dealer pays an “as much as $135” referral fee on private gross sales of an 8 Minute Dealer subscription.
Notice that 8 Minute Dealer’s compensation plan doesn’t clarify the “as much as” a part of referral commissions.
These may be gross sales to retail prospects or recruited associates.
Coded Bonus (preliminary charge)
8 Minute Dealer pays $290 in Coded Bonuses on each 8 Minute Dealer subscription sale.
The Coded Bonus is rank-based:
- SAAs earn $30
- SRAs earn as much as $80
- 1 Stars earn as much as $150
- 2 Stars earn as much as $210
- 3 Stars earn as much as $250
- 4 Stars earn as much as $275
- 5 Stars earn as much as $290
The coded nature of the bonus kicks in when decrease ranked associates promote 8 Minute Dealer subscriptions.
E.g. you’re 2 Star and promote a subscription. You obtain your $210, leaving $80 of the $290 Coded Bonus nonetheless to pay out.
The system searches upline for a 3 Star or greater ranked affiliate.
- if a 3 Star is discovered first, they obtain $40 ($250 minus $210 already paid out), leaving $40 nonetheless to be paid out to a 4 Star or greater
- if a 4 Star is discovered first, they obtain $65 ($275 minus $210 already paid out), leaving $15 nonetheless to be paid out to the primary upline 5 Star
- if a 5 Star is discovered first, they obtain the $40 quantity nonetheless to be paid out
On this method, greater ranked associates earn the Coded Bonus on subscription gross sales by downline decrease ranked associates.
Coded Bonus (month-to-month charges)
8 Minute Dealer pays a $30 Coded Bonus out of each $199 month-to-month subscription cost.
- SAAs earn as much as $3
- SRAs earn as much as $8
- 1 Stars earn as much as $15
- 2 Stars earn as much as $21
- 3 Stars earn as much as $26
- 4 Stars earn as much as $29
- 5 Stars earn as much as $30
Notice the month-to-month Coded Bonus is paid per rank precisely the identical because the preliminary charge Coded Bonus (particulars above)
Residual Commissions
8 Minute Dealer pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel workforce, with each personally recruited affiliate positioned straight beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
8 Minute Dealer pays residual commissions as a proportion of $65 put aside from month-to-month subscription funds:
- Gross sales Associates earn 8% on degree 1 (personally recruited associates), 8% on degree 2, 7% on degree 3 and 6% on degree 4
- Senior Associates earn 8% on ranges 1 and a couple of, 7% on degree 3 and 6% on ranges 4 and 5
- 1 Star Executives and better earn 8% on ranges 1 and a couple of, 7% on degree 3, 6% on ranges 4 and 5 and eight% on degree 6
Life-style Bonus
The Life-style Bonus is tied to rank development over a specified time-frame.
- qualify at 1 Star Govt and maintain it for two consecutive months to obtain $300
- qualify at 2 Star Govt the following month and obtain $600
- qualify at 3 Star Govt the following month and obtain $800
- qualify at 4 Star Govt the following month and obtain $1000
- qualify at 5 Star Govt the following month and obtain $1500 or $2000 (variance in bonus not defined)
International Income Share Bonus Pool
8 Minute Dealer takes 2% of annual subscription quantity and locations it into the International Income Share Bonus Pool.
8 Minute Dealer 5 Star Executives with 500,000 GV for at the least 9 out of twelve months qualify for the International Income Share Bonus Pool.
The International Income Share Bonus Pool is paid out as two smaller 1% swimming pools.
Within the first pool shares are allotted primarily based on annual GV generated by an affiliate’s downline, up till one other International Income Share Bonus Pool certified affiliate is present in every unilevel workforce leg.
If no such affiliate exists, GV from the entire leg is counted in the direction of shares.
The second pool is split equally amongst all certified 5 Star ranked associates.
Becoming a member of 8 Minute Dealer
8 Minute Dealer affiliate membership is tied to Youngevity affiliate membership, which prices $30.
Dearer choices can be found if an affiliate wish to construct a Youngevity enterprise alongside 8 Minute Dealer.
8 Minute Dealer Conclusion
The quick concern with foreign currency trading MLM alternatives is whether or not or not they’re a securities providing.
A securities providing is current if buying and selling is automated in any method. In 8 Minute Buying and selling, this isn’t the case, with the corporate clarifying “the software program won’t ever make a commerce for the consumer”.
Use of 8 Minute Dealer’s platform appears easy sufficient. You fireplace up their bot and click on both purchase or promote when prompted.
And apparently you solely do that for a couple of minutes a day, 5 days per week.
With earnings representations just like the one above, I’m oddly sufficient not seeing folks rave about 8 Minute Dealer. Outcomes from folks utilizing 8 Minute Dealer appear tepid.
That’s not essentially a nasty factor (I didn’t discover anybody complaining of blowing up their account), however I don’t suppose anybody is getting anyplace close to turning $2500 into $130,000 in a 12 months.
One potential compliance difficulty I’ll elevate is 8 Minute Dealer getting used along with EnviFX.
Though it’s not overtly featured on Youngevity’s web site or within the 8 Minute Dealer assist docs, I stored operating into EnviFX in advertising from associates.
Again in July a BehindMLM reader claimed 8 Minute Dealer “use(s) EnviFX as their platform”.
That is problematic in that EnviFX shouldn’t be registered with monetary regulators and thus operates illegally.
Moreover, over the previous few months, EnviFX has emerged because the platform of alternative for at the least two MLM alternatives committing securities and commodities fraud; Automated Capital and Adivah Tech.
EnviFX seem conscious of their fraud, stating on their web site that it “shouldn’t be directed at or meant to elicit residents and/or residents of the USA” and “this web site doesn’t solicit US Shoppers.”
Youngevity is a US MLM firm and it follows that almost all of its associates, together with these in 8 Minute Dealer, are US residents.
With respect to the MLM facet of 8 Minute Dealer, there’s a hazard that it operates as a pyramid scheme if the vast majority of subscribers are additionally associates.
8 Minute Dealer does nothing to encourage retail over recruitment, counting recruited affiliate subscribers and retail subscribers the identical.
As beforehand acknowledged, that Youngevity doesn’t market 8 Minute Dealer to a possible retail buyer base is a due-diligence concern.
The excellent news is as a potential 8 Minute Dealer retail buyer or affiliate, primary product due-diligence is straightforward.
You need at the least two months of buying and selling historical past attributable to eight Minute Dealer’s alerts. No excuses or exceptions.
If the particular person making an attempt to promote you 8 Minute Dealer can’t present that, stroll away.
