Banker Quotes fails to supply possession or government data on its web site.
Banker Quotes’ web site area (“bnkquotes.com”), was privately registered on January 18th, 2023.
In an try to seem legit, Banker Quotes supplies incorporation particulars for BQ Applied sciences LTD on its web site.
BQ Applied sciences LTD is purportedly registered within the Marshall Islands.
Because of the ease with which scammers are capable of incorporate shell firms with bogus particulars, for the aim of MLM due-diligence these certificates are meaningless.
Much more so when mentioned shell firms are included in dodgy offshore tax-havens.
Versus the Marshall Islands, if we check out Banker Quotes’ official FaceBook web page we will see it’s being run from Colombia.
This strongly suggests whoever is working Banker Quotes is predicated out of and/or has ties to Colombia.
As at all times, if an MLM firm just isn’t brazenly upfront about who’s working or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.
Banker Quotes’ Merchandise
Banker Quotes has no retailable services or products. Associates are solely capable of market Banker Quotes affiliate membership itself.
Banker Quotes’ Compensation Plan
Banker Quotes associates pay a payment, which permits them to speculate cryptocurrency on the promise of a 0.1% to 1% each day ROI.
The extra a Banker Quotes affiliate desires to speculate, the extra they should pay in charges:
- Guide ($50) – supplies entry to $200 in referral commissions and residual commissions solely, no funding
- Normal ($150) – capable of make investments $250 to $999
- Golden ($500) – capable of make investments $1000 to $2999
- Titanium ($1000) – capable of make investments $3000 to $9999
- Platinum ($2000) – capable of make investments $10,000 to $49,999
- Banker License ($5000) – capable of make investments $50,000 to $99,999
The MLM facet of Banker Quotes pays on recruitment of affiliate buyers.
Banker Quotes Affiliate Ranks
There are six affiliate ranks inside Banker Quotes’ compensation plan.
Together with their respective qualification standards, they’re as follows:
- Guide – join any of Banker Quotes affiliate memberships
- Certified Guide – recruit two Consultants, positioned one on all sides of the binary staff
- Sapphire – recruit two Certified Consultants or larger (one on all sides of the binary staff), and generate $75,000 in downline payment quantity
- Ruby – recruit two Sapphires or larger (one on all sides of the binary staff), and generate $200,000 downline payment quantity (max $100,000 from anybody recruitment leg)
- Emerald – recruit two Rubys or larger (one on all sides of the binary staff), and generate $1,000,000 in downline payment quantity (max $350,000 from anybody recruitment leg)
- Diamond – recruit three Emeralds (two on one facet of the binary staff, one on the opposite), and generate $2,500,000 in downline payment quantity (max $850,000 from anybody recruitment leg)
Notice that downline payment quantity is counted at 50% of precise charges paid.
Referral Commissions
Banker Quotes associates earn a 15% referral fee charges paid by personally recruited associates.
Residual Commissions
Banker Quotes pays residual commissions by way of a binary compensation construction.
A binary compensation construction locations an affiliate on the high of a binary staff, break up into two sides (left and proper):
The primary degree of the binary staff homes two positions. The second degree of the binary staff is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary staff are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary staff are stuffed by way of direct and oblique recruitment of associates. Notice there isn’t any restrict to how deep a binary staff can develop.
Banker Quotes feeds 50% of charges paid by associates into the company-wide binary staff.
On the finish of every day Banker Quotes tallies up new payment quantity on each side of an affiliate’s binary staff.
20% of recent payment quantity on the weaker binary staff facet is paid out as residual commissions.
Notice that residual commissions are capped each day based mostly on rank:
- Certified Consultants can earn as much as $500 a day in residual commissions
- Sapphires can earn as much as $2500 a day in residual commissions
- Rubys can earn as much as $5000 a day in residual commissions
- Emeralds can earn as much as $15,000 a day in residual commissions
- Diamonds can earn as much as $25,000 a day in residual commissions
As soon as paid out on, quantity is matched in opposition to the stronger binary staff facet and flushed.
Any leftover quantity on the stronger binary staff facet carries over for as much as 30 days.
ROI Match (unilevel)
Banker Quotes pays a ROI Match by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned straight underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
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.
Banker Quotes caps payable unilevel staff ranges at ten.
The ROI Match is paid as a share of each day returns paid to recruited associates throughout these ten ranges based mostly on how a lot a Banker Quotes affiliate has paid in charges:
- Guide tier associates don’t earn a ROI Match
- Normal tier associates 15% on ranges 1 and a couple of and 10% on degree 3
- Golden tier associates earn 15% on ranges 1 and a couple of and 10% on ranges 3 and 4
- Titanium tier associates earn 15% on ranges 1 and a couple of and 10% on ranges 3 to five
- Platinum tier associates earn 15% on ranges 1 and a couple of and 10% on ranges 3 to 7
- Banker tier associates earn 15% on ranges 1 and a couple of, 10% on ranges 3 to 7 and 5% on ranges 8 to 10
Rank Achievement Bonus
Banker Quotes rewards associates for qualifying at Sapphire and better with the next one-time Rank Achievement Bonuses:
- qualify at Sapphire and obtain $1500
- qualify at Ruby and obtain $5500
- qualify at Emerald and obtain $15,000
- qualify at Diamond and obtain $50,000
Becoming a member of Banker Quotes
Banker Quotes affiliate membership prices $50 to $5000.
The extra a Banker Quotes affiliate pays in charges, the upper their earnings potential.
Banker Quotes Conclusion
Banker Quotes represents it generates returns by means of excessive frequency buying and selling:
It’s the same old MT5 + myfxbook affair, which with out audited monetary studies lends itself to fraud.
Banker Quotes represents it’s utilizing WhizFX as a dealer:
WhizFX’s web site area was registered in late 2022. It’s run by means of shell firms in Australia, Canada and St. Vincent and the Grenadines.
On the regulatory entrance, WhizFX is simply registered to supply monetary providers to Australian residents (ASIC registration is a favourite for scammers on account of lax enforcement):
WHIZ FX PTY LTD just isn’t a product issuer of over-the-counter (OTC) derivatives and as such, it won’t make a market in such merchandise, nor transact with shoppers as principal.
It’s authorised to carry out monetary providers in Australia, to wholesale shoppers solely and restricted to the authorisations given to it, and just for Australian residents.
We all know Banker Quotes is being run from Colombia so instantly we’ve got a crimson flag.
Regardless of acknowledging it’s not approved to supply monetary providers outdoors of Australia, WhizFX very clearly pitches itself at Latin America:
Lastly, we even have this main crimson flag;
WHIZ FX, LLC doesn’t present providers to residents of the USA, Canada, Sudan, Syria, North Korea, Iran, Iraq, Mauritius, Myanmar, Yemen, Afghanistan, Vanuatu and EEA international locations.
Foreign currency trading is completely authorized within the US, offered you register with the suitable regulators. That is a part of shopper safety, and failing to take action lends itself to shopper fraud.
Somewhat than function legally, WhizFX chooses to exclude the US and Europe. One might make the argument that WhizFX markets itself to Latin America – the response to which is so why aren’t they registered to function legally in a single South American nation?
Getting again to Banker Quotes, it itself fails to supply proof it has registered with monetary regulators in any jurisdiction.
Because the operator of an MLM firm advertising and marketing passive returns purportedly derived by way of foreign exchange, Banker Quotes is required to register with commodities regulators in each jurisdiction it operates in.
This requirement contains periodic submitting of audited monetary studies, which is the one manner to confirm Banker Quotes is definitely paying withdrawals with buying and selling income.
Hiding firm possession and particulars about its buying and selling bot from customers are additionally securities and commodities fraud violations.
Because it stands the one verifiable income getting into Banker Quotes is new funding. Utilizing new funding to pay affiliate buyers a each day ROI would make Banker Quotes a Ponzi scheme.
With nothing marketed or bought to retail clients, the MLM facet of Banker Quotes provides an extra pyramid layer to the MLM alternative.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
It will starve Banker Quotes of ROI income, ultimately prompting a collapse.
Usually a “dealer buying and selling bot” MLM schemes exit-scam by blowing up their bot or simply disappearing.
No matter how Banker Quotes inevitably collapses, the vast majority of contributors in Ponzi schemes are assured to lose cash.
