Eagle Bit Trade’s website lists Edson Júnior as the company’s President, but provides scant information regarding his job. However, further investigation into the company’s structure indicates that affiliates have designated Edson Junior Amaral as the CEO of Eagle Bit Trade.
Despite efforts to learn more about Amaral’s career in multi-level marketing (MLM), definitive details remain elusive. Notably, Amaral is from São Paulo, Brazil.
Furthermore, the domain connected with the Eagle Bit Trade website, “eaglebittrade.com,” was privately registered on January 2nd, 2018, providing insight into the company’s online presence from the start. This mix of public and uncovered material paves the way for a closer look at Eagle Bit Trade and its key characters.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Eagle Bit Trade 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 Eagle Bit Trade, 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?
Eagle Bit Trade distinguishes itself by not offering retailable products or services. Affiliates are only able to promote the Eagle Bit Trade affiliate membership itself.
Affiliates participate in the Eagle Bit Trade Compensation Plan by investing between $97 and $6997, attracted by the promise of an 8.5% weekly return on investment (ROI). The compensation plan offers several investment tiers, each with a matching weekly payout:
- Basic: $97 yields $32.98 per month
- Light: $247 yields $21 per week
- Advance: $497 yields $42.25 per week
- Pro: $997 yields $84.75 per week
- Elite: $1997 yields $169.75 per week
- Master: $4497 yields $382.25 per week
- Premium: $6997 yields $594.75 per week
According to the compensation plan, these rewards will continue until the total ROI reaches 700%. Additionally, affiliates receive a 10% referral commission on assets invested by directly recruited affiliates.
Eagle Bit Trade’s compensation plan has eleven affiliate positions, each with distinct qualification conditions.
- Bronze to Ruby rankings are decided by the accumulation of investment on the weaker binary side.
- The Diamond to Eagle Royal rankings are determined by both financial investment and personal recruitment requirements.
A unilevel compensation structure is implemented, with ten payable levels. Affiliates are paid according on their investment level, which ranges from 3% on level 1 for Basic to 3% on level 1 and 5% on level 2 for Premium.
A binary pay scheme places affiliates at the top of a binary team. The commissions are calculated using the points generated on both sides of the binary team, which correspond to the affiliate’s investment level.
A Matching Bonus is given on residual binary commissions generated by unilevel team affiliates, which vary in proportion and level depending on affiliate rank.
Eagle Bit Trade proposes a World Pool made up of seven smaller pools, each representing a fraction of the company’s total investment. Participation is determined by affiliate ranking.
Affiliates who reach specified rankings receive bonuses include luxury things, watches, electrical devices, and even a car.
Affiliate membership requires an investment in one of seven packages, ranging from Basic at $97 to Premium at $6997, with related monthly costs.
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 actually 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.
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 in order 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, the customer support won’t resolve your issues and become increasingly unavailable.
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 Eagle Bit Trade 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 Eagle Bit Trade reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which 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 Eagle Bit Trade, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Eagle Bit Trade enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Eagle Bit Trade reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Eagle Bit Trade.
You should always look out for consumer complaints. In the case of Eagle Bit Trade, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Eagle Bit Trade? You can share your complaint in the comment section or submit an anonymous tip.
Eagle Bit Trade asserts its revenue generation through forex trading, binary options, and a cryptocurrency trading bot. The company claims to multiply cryptocoins through the expertise of professional traders and digital marketing experts.
However, there is a lack of evidence supporting these claims, and CEO Edson Junior Amaral’s background in finance or cryptocurrency trading remains unverified. The business model appears to follow a Ponzi scheme logic, relying heavily on new affiliate investments to sustain promised returns.
The inherent risk lies in the unsustainable nature of this model, with a collapse looming as recruitment slows down, potentially resulting in significant financial losses for the majority of investors.
Eagle Bit Trade 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 Eagle Bit Trade can run away with your money without any prior notice. You should be 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 Eagle Bit Trade?
All the evidence suggests that Eagle Bit Trade 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.
Is Eagle Bit Trade a scam?
Can I withdraw money from Eagle Bit Trade?
Where is Eagle Bit Trade Located?
How do I get my money back from Eagle Bit Trade?
Launch a website/app with a generic name
A website or app with a generic name allows scammers to hide behind common Google search results. Marketing such names is easier as well.
Pay influencers & social media pages to promote the scheme
By getting influencers and social media pages to promote their brand, scammers make their shady company seem more legit than it actually is.
Send thousands of emails and make cold calls to potential victims
It’s common for scammers to buy the contact details of people and spam them through email, phone calls, social media messages and other means.
Make victims feel safe through “small wins”
Such small wins usually include a few payments transferred into the victim’s account. This makes them seem more legitimate.
Convince victims into investing large sums of money
Due to the small wins, the victim is now convinced that the company is legit. Now, the scammers try to manipulate the victim into giving them larger sums.
Disable withdrawals & take down the website/app
Once the scammers have recieved a signicant sum, they either stop responding or cite a technical error to freeze their victims’ funds.
Repeat the cycle
After making the money, the scam will shut down and the people running it will launch another and repeat the cycle.