Tradera was a MLM company that specialized in forex trading and just recently they sent out an email to all their affiliates saying “ceasing all operations effective immediately”.
This is some huge breaking news in the Forex MLM space…
Unfortunately, affiliates, merchant partners and Tradera’s e-wallet provider haven’t been paid.
And co-owners Eastan Harris and Kody Sell are no where to be found.
Email of course doesn’t talk about that part…
For more information, I turned to a recent webinar held by former Tradera affiliates that were part of a “royal council”.
Barbee, one of the royal council members says the following:
[1:54] meet with the owners every single Wednesday, and we just discuss things to make things better for you all.
The last few meetings some of the leaders … they were just acting irate and acting, you know in a way that was turning the owners off.
Specifically Megan Lynch. She was yelling at the owner, she was talking to him like he was a child, right? And he was getting very frustrated with her.
So why were Tradera’s leaders irate?
[2:26] (On) the last meeting that we had … we had the news broken to us that the (client) price will be raised and doubled.
So instead of $99 it will be $200 to join Tradera.
Immediately after that (announcement), everybody in the council was shocked.
According to this webinar, the price hike was for more users Tradera brought to their undisclosed third-party signals provider, the more they had to pay in fees.
Normally when you bring in MORE client, prices get better…
This is a bit strange…
[3:07] So after the meeting we had a chat with the royal council with those leaders and there was a lot of arrogance.
One person in particular who you see, she was …
… And I talked to Kody (Tradera co-founder) and the other leaders talked to Kody, and he specifically told me he was not liking those royal council meetings because he didn’t like being yelled at like that.
[3:57] After that I get text from Megan saying “I got into it with the owners”.
After that, all I know is we had communication with the owners through a Facebook page … all I know is on Friday, I was on vacation with my family … I walk in the door and I get a call from ten leaders back to back.
And I knew something was going on. And after that call we had to get on a meeting because they (Tradera) disabled the chat in the call.
They disabled the communication. They blocked the leaders. They blocked me, they blocked Steve, they blocked Selena, they blocked Tiffany. They blocked us.
And then we didn’t get a message saying we got paid. So I’m like, “What is going on?”
According to Barbee said she is owned $50,000.
She also mentioned this wasn’t the first time this happened.
THis time around, however, things were different.
[5:59] And then I go to the e-wallet and it says, “This merchant has disabled the e-wallet”.
So in my mind I’m thinking like, “OK, Megan probably pissed them off, or whoever pissed them off. They may be having an anxiety attack, chillin’”.
But somebody called the e-wallet and they said Tradera has not paid them.
Next thing Barbee did was contact the Tradera’s “educators” to find out that they weren’t paid either.
While this mess was going on, Tradera was still accepting new signups and collecting fees.
All of this went down on December 18th, 2020 and there was no communication from Tradera’s owners over the weekend.
Barbee states she waited before all this played out before she announced she was leaving the company.
[7:34] I cannot be part of a company where you not gonna talk to me and you’re not gonna pay me my money.
In the past 24 hours or so, Megan Lynch and Domonique Barbee appear to have been feuding.
Barbee is claiming Lunch is lying to people about trying to recreate Tradera through another company.
Lynch is saying Barbee is cross-recruiting.
Barbee denies any kind of cross-recruiting, but does confirm she jumped ship for Epic Trading, a rival trading MLM company.
First 10 minutes of the webinar is relevant to Tradera going out of business, however, the second part is a sales pitch for Epic Trading.
So what is tradera doing now?
They have dumped all of their education onto YouTube.
Tradera states it did this as a “final contribution to the trading industry and our gift to each other”.
Each other meaning their affiliates.
Tradera’s legacy is free, top-tier forex trading education for the world. With this gift, you will never have to pay for proper Forex education again.
Let’s revisit the price hike for a second…
When you have more clients getting access to a service, 99% of the time the price drops.
How would having more clients onto a platform hike prices?
It doesn’t make any business sense.
In my Tradera review, I was worried about retail sales and how well their $99 per month client membership fee would do.
Plus, their refund policy was terrible at three days.
Even Tradera didn’ts tand behind their product if you think about it.
I can see how it can be very tough selling this same product for $200 per month.
End of the day, most of Tradera’s clients were actual affiliates and not customers.
This would mean it was operating as a pyramid scheme.
Tradera did provide a corporate address, but it was a PO BOX in Texas.
What seems strange is this…
They pulled the plug before Christmas…
It was suddenly as well…
I am wondering if there was a undisclosed US regulatory investigation?
What else would explain this?
Now this is 100% speculation and I am just trying to make sense of it.
If Eastan Harris and Kody Sell were not happy with certain Tradera affiliates, why not just boot them out?
Why run close down the entire company?
What I noticed is no one was upset about losing the signal service.
I am curious if the top leaders in the company even used the signal service for trading?
Or was it the same old story about getting started as an affiliate, pay the $99 per month and recruit others kind of thing.
Anyway, I will follow this one closely for you all!
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