Youngevity’s foray into foreign currency trading popped up on BehindMLM’s radar again in January.
We didn’t have an organization identify however knew Sal Leto was concerned. Leto’s previous raised a crimson flag however we didn’t see something overtly out of compliance.
In July 2022 Youngevity’s foreign exchange providing was given the identify 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 position 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 have now 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% beneficial properties on their account – in 5 or ten minutes.
Whereas 8 Minute Dealer is buried in an extended record of “store” merchandise on Youngevity’s web site, the corporate itself does nothing to put it on the market.
Youngevity has a reasonably energetic FaceBook web page. I went by every publish 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. At the least 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 indicators platform geared toward producing “a couple of share per day inside simply a few minutes of buying and selling”.
8 Minute Dealer’s buying and selling is completed on the US30, also called the Dow Jones Industrial Common – with a selected deal with the opening hour.
You obtain this onto your pc, you’ll have the display arrange, you’ll be capable of get out and in of the commerce by simply clicking a button.
The software program is MT4, and the sign vary supplied 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 indicators platform, 8 Minute Dealer additionally offers entry to
- “morning calls”
- “Put up 8 Scalper” 24 hour alerts
- “superior buying and selling psychology academy”
- “digital marketer’s academy”
The Put up 8 Scalper is an Synthetic Intelligence oriented software program utility, which runs on the MetaTrader 4 platform.
The software program is designed to detect robust traits throughout all the spectrum of economic markets, from indexes to foreign exchange, to metals and commodities akin to Gold and Oil, and even cryptocurrencies.
Prospects will even obtain a mix of grasp class degree buying and selling schooling, together with groundbreaking psychology lessons which might be usually utilized for top internet value, skilled merchants.
Youngevity fails to supply info as to who’s behind the 8 Minute Dealer addons, making it troublesome 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 clients 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 keep three energetic clients
- Senior Affiliate – keep three personally referred energetic clients (not a typo, rank qualification is offered the identical as SAA)
- 1 Star Govt – keep three personally referred energetic clients, have twelve clients throughout your downline, recruit and keep three associates and generate 5400 GV a month
- 2 Star Govt – have three unilevel group legs with a 1 Star or larger in them, have thirty-six clients throughout your downline, keep three personally recruited associates and generate 7500 GV a month
- 3 Star Govt – have 5 unilevel group legs with a 1 Star or larger in them, have sixty clients throughout your downline, recruit and keep 5 associates and generate 10,500 GV a month
- 4 Star Govt – have six unilevel group legs with a 1 Star or larger in them, have seventy-two clients throughout your downline, recruit and keep six associates and generate 27,000 GV a month
- 5 Star Govt – have 9 unilevel group legs with a 1 Star or larger in them, have 100 and eight clients throughout your downline, recruit and keep 9 associates and generate 43,200 GV a month
Be aware that for rank qualification, 8 Minute Dealer solely counts exercise throughout the primary three ranges of recruitment. That’s required clients, 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 payment GV isn’t particular however, based mostly on the preliminary payment GV, is believed to be round 200 GV.
To rely in the direction of rank qualification, clients have to be paying their month-to-month subscription payment.
Prospects will be retail clients 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.
Be aware that 8 Minute Dealer’s compensation plan doesn’t clarify the “as much as” a part of referral commissions.
These will be gross sales to retail clients or recruited associates.
Coded Bonus (preliminary payment)
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 larger 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 larger
- 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, larger 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
Be aware the month-to-month Coded Bonus is paid per rank precisely the identical because the preliminary payment Coded Bonus (particulars above)
Residual Commissions
8 Minute Dealer pays residual commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel group, with each personally recruited affiliate positioned instantly beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel group.
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 share 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 pair of, 7% on degree 3 and 6% on ranges 4 and 5
- 1 Star Executives and better earn 8% on ranges 1 and a pair of, 7% on degree 3, 6% on ranges 4 and 5 and eight% on degree 6
Way of life Bonus
The Way of life Bonus is tied to rank development over a specified timeframe.
- 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 very 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 based mostly 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 group 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 need to construct a Youngevity enterprise alongside 8 Minute Dealer.
8 Minute Dealer Conclusion
The instant 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 manner. 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 hearth 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 yr.
One potential compliance challenge I’ll elevate is 8 Minute Dealer getting used at the side of EnviFX.
Though it’s not overtly featured on Youngevity’s web site or within the 8 Minute Dealer help docs, I saved 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 just isn’t 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 very 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 “just isn’t directed at or supposed 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 nearly all 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 simple.
You need at the very least two months of buying and selling historical past attributable to eight Minute Dealer’s indicators. No excuses or exceptions.
If the individual making an attempt to promote you 8 Minute Dealer can’t present that, stroll away.
