Turbo, additionally marketed as “We Are Turbo”, fails to supply firm possession info on its web site.
Turbo’s web site area (“weareturbo.io”), was first registered in 2020. The non-public registration was final up to date on December eighth, 2021.
Turbo’s web site defaults to Spanish. The corporate’s advertising materials can also be all in Spanish.
Additional analysis reveals Turbo advertising materials citing David Merino as founder and CEO of the corporate.
Why this info isn’t offered on Turbo’s web site is unclear.
Previous to Turbo David Merino headed up Frequency as CEO:
Frequency was a buying and selling bot MLM scheme. It seems to have collapsed on or round January 2021. This coincides with Turbo’s preliminary area registration on December eighth, 2020.
Learn on for a full overview of Turbo’s MLM alternative.
Turbo’s Merchandise
Turbo has no retailable services or products.
Associates are solely in a position to market Turbo affiliate membership itself.
Turbo’s Compensation Plan
Turbo associates make investments on the promise of a 5% to 17% month-to-month return.
Turbo claims to generate returns by means of buying and selling bots, which it sells subscriptions to:
- SA1 – 5% to 7% month-to-month ROI, prices $119 after which $99 a month
- SA2 – 7% to 10% month-to-month ROI, prices $399 after which $149 a month
- SA3 – 10% to 17% month-to-month ROI, prices $999 after which $199 a month
- Premium SA1 – 5% to 7% month-to-month ROI, prices $1000 each 6 months
- Premium SA2 – 7% to 10% month-to-month ROI, prices $2500 each 6 months
- Premium SA3 – 10% to 17% month-to-month ROI, prices $3500 each 6 months
The non-Premium plans are considerably cheaper. The marketed returns are the identical so I’m undecided what the distinction between the 2 varieties of subscriptions is.
Word that no matter which subscription is chosen, Turbo costs a 15% payment on generated returns.
The MLM aspect of Turbo pays on subscription charges paid by recruited associates.
Referral Commissions
Turbo pays a 20% fee on subscription charges paid by personally recruited associates.
- earn $150 on the sale of a Premium SA1 subscription
- earn $375 on the sale of a Premium SA2 subscription
- earn $525 on the sale of a Premium SA3 subscription
Residual Commissions
Turbo pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel group, 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 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.
Turbo pays a 5% residual fee on returns paid throughout ten unilevel group ranges.
Word that recruitment is required to qualify for residual commissions:
- recruit 1 affiliate and earn residual commissions on two unilevel group ranges
- recruit 2 associates and earn residual commissions on 4 unilevel group ranges
- recruit 3 associates and earn residual fee on six unilevel group ranges
- recruit 4 associates and earn residual commissions on eight unilevel group ranges
- recruit 5 associates and earn residual commissions on ten unilevel group ranges
Recruited associates will need to have an energetic subscription to depend in direction of residual fee qualification standards.
HolderX Commissions
HolderX commissions look like a bonus paid on
the operations of the subscribers of your group as much as the third degree!
What this implies is unclear. It sounds prefer it’s a straight up addition to residual commissions, however with out the recruitment necessities.
In any occasion, commissions paid out on as much as three unilevel group ranges by way of HolderX are as follows:
- degree 1 – 5%
- degree 2 – 3%
- degree 3 – 2%
ShareX Bonus Swimming pools
Turbo takes 15% of month-to-month subscription payment income and locations it into two rank-based bonus swimming pools.
- 25K Entrepreneurs who’ve recruited one affiliate that month obtain a share in a 5% ShareX bonus pool
- 50K Entrepreneurs who’ve recruited two associates that month obtain a share in a ten% ShareX bonus pool
Word that Turbo don’t present rank qualification standards.
Becoming a member of Turbo
Becoming a member of Turbo requires cost of both month-to-month or bi-annual subscription charges.
- SA1 – $119 after which $99 a month
- SA2 – $399 after which $149 a month
- SA3 – $999 after which $199 a month
- Premium SA1 – $1000 each 6 months
- Premium SA2 – $2500 each 6 months
- Premium SA3 – $3500 each 6 months
Word all funds inside Turbo are made in bitcoin.
Turbo Conclusion
Turbo’s MLM alternative presents just a few instant purple flags.
The primary isn’t any details about the corporate’s buying and selling bots is disclosed.
Turbo is actually a continuation of Frequency underneath a unique title. Similar persons are operating the present and it’s the identical buying and selling bot alternative.
This begs the query why did Frequency collapse?
Additionally having operated for just a few years underneath two firm names, the place are the audited buying and selling outcomes?
I think Frequency was deserted after recruitment collapsed.
This may counsel Turbo’s buying and selling bot is secondary to recruiting and incomes off subscription charges. This may functionally make Turbo a pyramid scheme.
The second instant concern is Turbo clearly providing a passive funding alternative.
It seems to be the “lulz can’t contact our cash!” mannequin. That’s associates pay for entry to a bot, which is then related to their buying and selling account.
MLM corporations providing passive returns must register with monetary regulators. Turbo supplies no proof it has registered with monetary regulators.
David Merino seems to be based mostly out of Spain. Securities in Spain are regulated by the Comisión Nacional del Mercado de Valores (CNMV).
Not registering with the CNMV or every other monetary regulator implies that, at a minimal, Turbo is committing securities fraud and working illegally.
The third purple flag is Turbo solely accepting subscription charges in bitcoin.
Turbo represents its bots interact in foreign currency trading:
Bitcoin being the solely cost possibility comes off as an try and dodge regulation. When Turbo collapses like Frequency, it’ll additionally make it near inconceivable for sufferer restoration.
The fourth purple flag is Turbo touting a ten% to 17% month-to-month ROI. If that was constantly potential, David Merino would have been operating these bots since Frequency.
With even a minimal capital quantity, certainly after 2+ years compounding month-to-month he’d be set?
“Lulz can’t contact our cash” scams usually collapse when the admin(s) rig trades of their favor. This leads to associates waking up someday to drained accounts.
“Our bot malfunctioned!” or “we received hacked!” are frequent cowl excuses.
Both method the top outcome is similar: nearly all of individuals in buying and selling schemes like Turbo lose cash.
