SoftradeAI is an offshore-based cryptocurrency broker. It promises up to 5% of Return On Investment every day for 35 days. Apart from the name of the CEO, Ryan Baines, there is very little information available about this broker. The broker is unregulated and does not have a valid license to provide brokerage services. In this SoftradeAI review, all the necessary information will be provided to our readers. It will be beneficial if you read the full SoftradeAI review thoroughly.
The official website of SoftradeAI reads that the firm is an Artificial Intelligence Asset Management Company that uses highly advanced AI software and tools to generate maximum profit for its investors. The domain of SoftradeIA was registred anonymously and was operational for only one year from 2019 to 2020. The domain registration address was Hong Kong-based, but the broker claims to be registered and operational from the United Kingdom.
Interestingly, this broker does not have any product portfolio and runs an affiliate program. The clients need to deposit $3000 or more to be a part of its AI Academy. But what this AI Academy actually does and what are its benefits, in reality, are unclear. The daily ROI of 2% to 5% given on the investment from $25 to $100000. The promise of regular ROI increase slab wise as 120%, 155%, 190%, and 225% after 35 days according to investments made. It also promises a 2% commission on each referral.
The offered commission on the referrals increases according to the four levels. The SoftradeAI has different plans depending upon investments made, and the commission increases from 7% to 11%. To generate a higher commission, clients need to invest money from $5000 to $25000. From its structure, it is evident that the SoftradeAI is running a Ponzi Multi-Level Marketing scheme.
The CEO of this company is a paid actor, and only its picture is available. On the media platform like youtube, the video containing this actor is present. While listening to him, anyone can conclude the actor does not have a British accent.
Is SoftradeAI scam or legit?
The broker SoftradeAI does not have any physical product; instead, it promotes an MLM program. The company is unregistered and unlicensed. The CEO is a paid actor who does not seems to be the British national. The domain of the company lasted only for one year. It gives us insight into the true nature of SoftradeAI. The scammer does their job in a specific time frame and vanishes with all the investments made by traders. In this review, we analysed SoftradeAI thoroughly and found that the company is a potential Australian trading scam. It is advised not to invest in SoftradeAI.