Mayo Trade: Is Really A Ponzi Scheme? The Truth Exposed (Update 2024)
Mayo Trade claims to be an investment company based in Ghana. However, their reviews indicate Mayo Trade is a Ponzi scheme targeting gullible consumers.
According to their website, they claim to build an inclusive platform for their clients to make investments. Also, they claim to take a unique approach to technology.
These Ponzi schemes are financial schemes whose primary goal of defraud many people. Many investors are scammed by these fraudsters and at last, they would get nothing. These bogus schemes generate an earlier return for new clients acquired from the old clients.
Mayo Trade CEO is Jeff Hamilton. He is a forex trader who claims to have over 10 years of professional experience.
Jeff claims he has been proactively involved in forex trading and crypto investment strategies for years.
However, there isn’t any method to verify these claims.
Other notable at MayoTrade include:
- George Clayssen
- Alain Carry (Sales Head)
- Audrey Sce (CMO)
- Bob Leroy
- Carlos Parejo
- Eric Layhee
They claim to have offices all across the globe. The various Mayo Trade office locations are:
- UK: 15 Portland Place, London, England, W1B 1PT
- Nigeria: Olivia Plaza, Block 2, Bannex, Wuse 2 Abuja
- Ghana: 65 ET, Akornor Street, Adijringanor
- Uganda: Mabirizi Complex, Glass M, Kampala Road, P.O Box 7318 Kampala
- Pakistan: D-30/1, Jinnah Street, Garib Abad, Sukkur, Sale Pat.
- Thailand: No. 3058, Phatthanakan Road, Prawet Sub-district, Prawet District
Is Mayo Trade a Ponzi Scheme?
What makes Mayo Trade an extremely suspicious company is its business model.
The company claims to offer daily profits to its investors. According to their website, you can earn 2%-3% daily profits by investing with them.
They have multiple investment packages:
Silver
This package claims to give you a 1.4% profit daily for 125 days. The minimum deposit requirement for this package is $50 while the upper limit is $10,000.
Furthermore, they claim to offer referral commissions and binary commissions of 10% each.
According to Mayo Trade, you will get 275% total returns on your investment within 125 days.
The capping limit is $2000 here.
Gold
Here, they claim to offer a 1.8% daily return on an investment ranging from $10,001 to $50,000.
Again, the referral and binary commissions are 10% each while the total returns are 325%.
Furthermore, Mayo Trade has put a $5000 capping limit on this investment package.
Diamond
Finally, you have their diamond package.
The investment required for this package is $50,001 to $100,000. However, the diamond package claims to offer 2.3% daily profit for 125 days.
They also claim to offer referral and binary commissions in this package.
The total returns in this package should be 380.6% for an investor.
Although all of these investment packages sound good on paper, Mayo Trade doesn’t specify how it will generate over 250% returns within 4 months for each investor.
Their primary selling point is the referral commission.
This is a typical promotion strategy among online scams where they get you to invest a large sum with them and then ask you to get referrals for profit.
There are a ton of online scams using this business model.
For example, UBB Amanah Berhad claims to offer 12% returns annually on its investments but fails to meet its promises.
Similarly, WFG of Penney Ooi compels you to work for free under the pretense that you will be working as an independent businessman.
You also have Yolllo, an online scam in Eastern Europe following the same strategy as Mayo Trade.
The Binary Commission: Proof Mayo Trade is a Ponzi Scheme
As you must have seen in every package, Mayo Trade claims to offer binary commissions on every package.
In this system, the commissions are split into two sides. The first level of the binary team has 2 positions while the second level has 4 (split from the initial 2).
Companies like MayoTrade fill these positions with affiliates. However, there is no limit to how much such a team can grow.
In the case of this company, they tally up new investment volume on each side of their binary team.
Then, they pay 10% of the funds invested on their weaker binary team side.
After paying them, they match the investment volume against the stronger binary side and flush the same.
If there is any leftover volume, they carry it over.
Mayo Trade is a SCAM! – What Other People Say
I found a forum discussion on Mayo Trade online. Here, people were sharing how the company is a Ponzi scheme and should not promote itself here.
Users highlight that investing in this Ponzi scheme would only cause people to lose their money, which is rather different from gambling it away. That’s because when you gamble, you at least have some fun.
But when you invest those funds in a Ponzi scheme, you only lose your money.
Multiple users shared this sentiment.
One other user highlighted that people can’t even win in a Ponzi scheme, particularly if they are late investors.
Furthermore, the user highlights that you lose money regardless of when you invest in a Ponzi scheme. This is different from gambling as there, you at least get some excitement.
All of these forum members recognize MayoTrade as a Ponzi scheme.
Conclusion
Mayo Trade has too many red flags. It follows a pyramid structure to compensate its members, indicating it’s a ponzi scheme.
Furthermore, the company has significant notoriety thanks to its deceptive marketing tactics.
Judging from their website and claims, it seems like the only way they generate any revenue is through new investment.
This is further proof that it’s nothing more than a Ponzi scheme. Hence, you should avoid Mayo Trade at all costs.
Mayo trade is a big scam. I signed up and regret the decision.