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Iconatek: Is It a Ponzi Scheme for Forex? The Truth Exposed (2024)

iconatek
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Iconatek claims to be a legitimate forex company but it might be a Ponzi scheme. Find out the truth in this Gripeo post.

Iconatek’s webpage lacks ownership and executive data.

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 Iconatek 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.

On April 27th of the year 2023, Iconatek’s webpage address namely iconatek.io was publicly secured.

Researchers may detect connections to iVicsant Technology in the source of Iconatek’s webpage.

iconatek review

iVicsant Solutions is an application development company that caters to Spanish-speaking customers.

iconatek mlm

Aside from a WhatsApp phone number, the organization seems to not exist.

Nevertheless, we may deduce that the administrator of Iconatek understands Spanish. We are unable to rule off the possibility that who runs iVicsant Technology additionally operates Iconatek.

Always remember that if an MLM firm is not honest regarding who runs or controls it, consider twice before enrolling as well as turning over any of the cash.

Their Products

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.

Iconatek does not offer any retailable items or operations.

Associates are allowed to promote them associate subscriptions.

Associates of Iconatek invest in Bitcoin with the expectation of a passive profit.

Jeremy Barnett says during an Iconatek commercial film posted to YouTube dated May the nineteenth, the year 2023.

Welcome aboard to Iconatek. I’m quite happy to be able to use their program for creating and trading Algorithms. I’m getting us between 8% and 10% a month. Consistently good. Very strong.

It gives commissions for referrals on bitcoin investments at two stages of acquisition that are unilevel:

  • level 1, affiliates individually acquired – ten percent
  • Level 2 – five percent 

How to Join:

Their membership as an affiliate is completely complimentary.

To fully participate in the associated potential for earnings, you have to put money in cryptocurrencies.

Iconatek is looking for investors in several coins.

Conclusion

This company claims to gain outside money through trading in forex.

Iconatek is a well-known internet currency or commodities trading that allows its customers to trade Forex, goods, equities, & equities on their terms.

This necessitates accreditation by regulators of finance, something Iconatek refuses to demonstrate.

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Similarly, audited accounting records are the sole way to confirm Iconatek is making withdrawals with supposed trading in forex proceeds.

For instance, its organizer Jeremy Barnett operates in Florida in the United States.

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Source

Iconatek and Jeremy Barnett have no affiliation with both the CFTC or the Securities and Exchange Commission. This suggests that Iconatek & Barnett have been, at the very least, conducting commodity & fraud with securities.

As of now, fresh capital is the sole provable means of income for this scheme.

Iconatek might be a fraudulent Ponzi scheme if new investments were utilized for cash repayments.

If you have sensitive information or have had a personal experience with Iconatek 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.

As with other MLM scams, once associate recruiting is exhausted, fresh capital is going to dry up.

It will deprive Iconatek of Return earnings, ultimately contributing to its demise.

Ponzi schemes’ logic ensures that if they fail, a great deal of those involved forfeit cash.

What is Ponzi Scheme?

A Ponzi plan is a deceptive investment strategy that promises a substantial rate of interest without risk to participants. A Ponzi scam is an investment fraud whereby cash is collected from future participants to produce profits for previous investors. 

This is comparable to a pyramid scam in that all rely on future investors’ finances for paying off previous shareholders.

Both Ponzi & pyramid programs inevitably fail once the influx of fresh capital stops as there doesn’t seem sufficient funding to go to everyone. The schemes begin to crumble then.

Whatever the method of communication utilized, the majority of Ponzi schemes have similar features. The Securities and Exchange Commission, known as the SEC, recognized the following traits to be on the lookout for:

Ponzi Scheme Warning Signs

The method of communication utilized, the majority of Ponzi schemes have similar features. The Securities and Exchange Commission, known as the SEC, recognized the following traits to be on the lookout for:

  • A guarantee of substantial rewards without risk.
  • A steady stream of income whatever the economic climate.
  • Unregistered transactions filed with the Securities and Exchange Commission, known as the SEC.
  • Customers are not permitted to access official documentation for their financial plans that have been classified as hidden or considered difficult to understand.
  • Customers who are having difficulty withdrawing the cash

In conclusion

Customers anticipate a fiduciary duty as they give funds away to their financial planners or investment companies. However, those monies can be managed illegally through Ponzi-like schemes. 

Ponzi programs aren’t actual investments because they use one investor’s cash to repay others. They are deceptive investing schemes that have culminated in millions of dollars in losses.

Iconatek: Is It a Ponzi Scheme for Forex? The Truth Exposed (2024)
Iconatek: Is It a Ponzi Scheme for Forex? The Truth Exposed (2024)

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