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Buyer Beware

Banker Quotes: Another Ponzi Scheme? The Truth Exposed (2024)

Banker Quotes is unable to disclose ownership as well as executive data through its official website. 

Banker Quotes’ domain name is bnkquotes.com, and it officially became available on January 18th, 2023. 

According to a reliable source, Banker Quotes assists in the provision of incorporation details from Banker Quotes Technologies INC. on the company’s official website. 

Before we get started with this review
Such posts are made possible by the collective efforts of our contributors. If you can provide any kind of insight into Banker Quotes or a similar company/individual, then share your information with us using our secured form.

You can help us put a stop to online scams before they grow too big and end-up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.

Banker Quotes Technologies Inc. has its headquarters in Marshall Island. 

Because of the simplicity with which fraudsters can organize false businesses with fake information, these certificates are likewise useless for MLM security checks. 

This is especially true when false organizations are formed in shady tax havens abroad. 

In terms of Marshall Islands opposition, we can observe that Banker Quotes’ official Facebook page is maintained from Columbia. 

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Source

This information implies that whoever runs Banker Quotes resides in and has connections to Columbia. 

In comparison, it is often stated that if an MLM company is not completely forthright regarding its ownership and those who are running the firm, think hard and long before participating or managing any type of revenue. 

Products from Banker Quotes

Banker Quotes does not offer any retailable goods or services of any kind. Associates can promote Banker Quotes associate subscriptions.

Banker Quotes’ Compensation Structure

Banker Quotes partners spend a fee when they invest in Bitcoin with an expectation of a 0.1 percent to one percent daily Return.

The more money a Banker Quotes associate invests, the greater the charges they must pay:

Affiliates Invest 
Consultant ($50)No Investment 
Standard ($150)$250 to $999
Golden ($500)$1000 to $2999
Titanium ($1000)$3000 to $9999
Platinum ($2000)$10,000 to $49,999
Banker License ($5000)$50,000 to $99,999

Banker Quotes’ MLM component makes money by recruiting associate partners.

Affiliate Ranks at Banker Quotes

Banker Quotes’ compensation structure includes 6 associate tiers.

They are as follows, combined with the specific eligibility standards:

  • Consultant- Enroll in one of Banker Quotes’ associate programs.
  • Qualified Consultant- Hire 2 specialists, 1 for both halves of the dichotomous group.
  • Sapphire- 2 Certified Advisors or greater (a single on both sides of the binary squad) with at least 75 thousand dollars in downline revenue quantity. 
  • Ruby- Hire 2 Sapphires or above, a single on both sides of the binary combination, and generate 200 thousand dollars in downline fee turnover, not above $100,000 from any single acquisition trip.
  • Emerald- enroll 2 Rubys or above and earn a million dollars in downline fee turnover (maximum of three hundred fifty thousand dollars from any single recruiting cycle)
  • Diamond- Hire 3 Emeralds & earn two million five hundred thousand in downline fee flow (maximum of eighty-five thousand from any single acquisition cycle).

It should be noted that downline charge flow is calculated at fifty percent of real charges payable. 

What is a Ponzi Scheme?

A Ponzi scheme is a criminal deception investing fraud pledging increased rates of interest with less chance of loss to investors. On the other hand, a Ponzi scam is a deceitful investing fraud that induces retrievals for earlier investors with money carried from later investors.

Referral Commission 

Banker Quotes associates get a fifteen percent referral payment on associates they individually join.

Banker Quotes uses a binary compensation mechanism for distributing leftover profits.

A so-called binary compensation system positions a partner at the highest level of a binary group, which is divided among the right and left sides. 

The binary team’s first initial contains 2 slots. The binary team’s second division was formed by dividing the initial two slots into two more positions of power, each among which had four spots. 

As needed, further stages of the binary group are constructed, every successive stage containing double the number of spots as the prior stage.

The positions on the binary squad become available through either direct or indirect associate acquisition. It should be noted that at present there is no existing limitation to the extent to which deep a binary trading group may develop.

Banker Quotes contributes fifty percent of associate earnings to the organization’s binary group.

Banker Quotes totals fresh fee revenue on both ends of an associate’s binary group after each working day.

Our Methodology

We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.

All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.

These reports are made possible by the collective efforts of contributors like you. If you would like to become a contributor then contact us here.

As residue compensation, twenty percent of the increased fee amount on the lesser binary group team gets paid out.

It should be mentioned that the remaining earnings are limited every day dependent on position.

Affiliates Residual Commission 
Qualified Consultant $500 per day 
Sapphires $2500 per day 
Rubys $5000 per day 
Emerald $15,000 per day 
Diamonds $25,000 per day 

Eventually paid out, quantity is flooded toward the more powerful binary group.

Every remaining capacity on the more powerful binary team half is carried forward for no more than thirty days.

Matching ROI (unilevel)

Banker Quotes provides a Return on Investment Match with the help of a one-level remuneration framework.

In a unilevel remuneration framework, a referral partner is put at the highest position of a unilevel group of people, having each newly hired member positioned right beneath these individuals such as level one:

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If level one associates hire additional colleagues, the new associates are assigned to the initial associate’s unilevel group at level two. 

fortunately, any level two associates hire new colleagues, they are promoted to level three and many more, as well as fourth down a possibly unlimited number of levels. 

Banker Quotes limits are paid to unilevel groups at a rate of 10. 

The return on investment is given as a proportion of daily profits given to hired associates throughout ten stages, that is depending on the amount that a Banker Quotes’ associate has contributed in fees: 

  • Associates at the Consultant Level do not receive a Return on Investment Match.
  • Associates on the basic level earn fifteen percent on levels one and two plus ten percent on level three.
  • Associates in the golden level receive fifteen percent on tiers one and two as well as ten percent on tiers three and four.
  • Associates in the Titanium level receive fifteen percent on stages one and two plus ten percent on stages Three through five.
  • Associates in the Platinum level receive fifteen percent on stages one and two plus ten percent on stages Three through seven.
  • Associates at the Banker level receive fifteen percent on stages one and two, Ten percent on stages Three to seven, plus five percent on stages eight through ten.

Bonus for Rank Achievement

Banker Quotes offers several only once Level Success Rewards to associates that score at Diamond or greater:

Qualify to Receive 
Sapphire $1500
Ruby $5500
Emerald $15,000
Diamond $50,000

Associate registration in Banker Quotes ranges from fifty dollars to five thousand dollars.

The higher the charges a Banker Quotes associate contributes, the greater their chance of making money.

Conclusion

Banker Quotes claims that it produces profits via high-energy trade:

It’s the standard MT5 + myfxbook setup, that invites theft in the absence of verified accounting records. 

Banker Quotes usually reflect the broker they use WhizFX: 

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The domain address of the website namely WhizFX, was registered in the latter stages of 2022. It operates with the assistance of front organizations from Australia, Canada, & St. Vincent & the Grenadines. 

WhizFX has been authorized to offer financial assistance to Australian people on an ongoing basis. It is a fact that, due to low enforcement, ASIC certification is a preference among fraudsters.

WhizFX PTY Inc. does not constitute a manufacturer of over-the-counter goods & will not create a marketplace for these products or deal with consumers as proprietors. 

It is permitted to provide financial advisory services within Australia to wholesale customers merely, subject to the authorizations granted to it, and solely to Australian belongings.

As we expected Banker Quotes to flee from Colombia, we instantly raised multiple red flags. 

Even though it is illegal to assist banking services within Australia, WhizFX targets the region of Latin America. 

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Ultimately, there is this significant red signal;

WHIZ FX, Ltd is unavailable to inhabitants of the United States of America, Canada as well, the Republic of Sudan, the nation of Syria, the Republic of Korea, Iraq, Iran, Mauritius, the nation of Myanmar, the nation of Yemen, Afghanistan, the island nation of Van, or the European Economic Area.

Trading in foreign exchange is fully legal in the US since it provides certification with the nation’s proper lawmakers, which is an element of the customers’ security, but failure to do so exposes them to consumer scams. 

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WhizFX decides to leave out the United States and Europeans instead of trying to trade lawfully. One might state that WhizFX advertises to the Americas, and then the answer is, “Consequently, why are not they authorized to do business lawfully in just one South American country?”

To return to Banker Quotes, it does not present proof that it has filed with securities regulators in any country.

Banker Quotes is obligated to file paperwork with market authorities in each jurisdiction in which it works because the owner of a pyramid scheme selling passively gains allegedly generated by FX.

If you have sensitive information or have had a personal experience with this company but want to stay anonymous, then submit it using our secured form. You can connect with our expert contributors and help in finding the truth. We never share your information with 3rd parties.

The skills needed involve the submission of verified accounting documents regularly, and it’s the sole means to ensure that Banker Quotes is truly compensating deposits from dealing earnings.

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Covering an organization’s identity & information regarding its stock trading bot from clients is likewise a kind of commodities & market theft.

So of yet, fresh capital is the sole provable way to generate income into Banker Quotes. Banker Quotes could constitute a Ponzi scheme if it used fresh capital to give associate members an everyday Return on investment.

The multilevel marketing aspect of Banker Quotes provides a further ladder level to the MLM potential because everything is advertised or traded to the consumer clients.

As with other Multilevel scams, when associate recruiting is exhausted, fresh capital will stop coming up.

That will strip Banker Quotes of Return on investment earnings, leading to a crash.

MLM scams that use “broker selling bots” usually exit-scam by blasting down their automated system or simply leaving.

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Banker Quotes will unavoidably fail, and a great deal of the fraudulent program members are going to lose income.

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