Tradeforchange.net has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Automind Company. We’ve received over 5 complaints against Tradeforchange.net.
The lack of regulation or weak regulatory control raises serious concerns that Tradeforchange.net is a deceptive, potentially criminal activity. Unlicensed organizations providing investment services may vanish without a trace, leaving victims with no recourse. Verifying a company’s regulatory status and licensing is critical, as it serves as a protection and point of contact in the event of an issue. According to Tradeforchange.net, the lack of regulation leaves victims with no protection or authority to turn to.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Tradeforchange.net Regulated? Do They Have a License?
Tradeforchange.net is an MLM website that offers what it calls “profitable investment opportunities” through commodity trading. It works in the Forex trading niche.
William Coyle is named as the CEO of Tradeforchange.net in its marketing literature. Based on his LinkedIn page, he lives in Costa Rica and has tried and failed cryptocurrency businesses as well as marketing experience. The names Kam Salami and Nicholas Carrier are linked to Coyle.
Salami is one of the founders and CEOs of the marketing company MySway. Carrier is one of the founders of Rizen, a company that makes AI avatars for users. Salami was born in Canada, but Carrier and Coyle both live in Costa Rica.
The domain name Tradeforchange.net was secretly registered on January 25, 2024, which shows that their digital platform is still fairly new.
Tradeforchange.net doesn’t sell any goods or services to the public. For now, it’s mostly about getting friends who can only promote Tradeforchange.net membership. The business plan says that the monthly profit goal will be between 10 and 20 percent ROI.
Affiliates in an MLM system are paid for bringing in new investors on two levels, with different payouts for each level. A portion of the money that their recruits make is also matched by the affiliates.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Tradeforchange.net is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Tradeforchange.net, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Concerning Issues Present at Tradeforchange.net
Tradeforchange.net has a number of legal and regulatory issues. It asks for investments and says it can give passive returns through selling commodities, but it doesn’t show that it’s registered with the financial authorities. This raises concerns about possible securities, commodities, and wire fraud.
The platform says that it doesn’t directly seek clients from the US, UK, and Canada, which seems to be to escape regulatory scrutiny from those countries. This method could mean asking investors from these countries for money in a roundabout way.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Tradeforchange.net Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
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Tradeforchange.net Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Tradeforchange.net tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Tradeforchange.net reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Tradeforchange.net, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Tradeforchange.net enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Tradeforchange.net reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Tradeforchange.net.
You should always look out for consumer complaints. In the case of Tradeforchange.net, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Tradeforchange.net? You can share your complaint in the comment section or submit an anonymous tip.
Is Tradeforchange.net Legit Or a Scam?
Under the guise of an MLM business, Tradeforchange.net offers a high-risk deal that combines fraud in securities and commodities with the structure of a pyramid scam. Because the operation isn’t clear or follows the rules, it’s probably against the law in places where financial markets are controlled.
Potential buyers should be careful when approaching the business because it is in a dangerous situation.
Tradeforchange.net is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Tradeforchange.net can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Tradeforchange.net?
All the evidence suggests that Tradeforchange.net is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is Tradeforchange.net a scam?
Can I withdraw money from Tradeforchange.net?
Where is Tradeforchange.net Located?
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How The Tradeforchange.net Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
