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My Trader Review (2023 Update): Everything You Wanted To Know!

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Updated: January 03

By: Scam Risk - Expert Reviewer

MyTrader Review

With the advent of technology and with the aid of various program that pops out to help us be knowledgeable in the field of our choice, investment in this case, ignorance is truly a choice.

Are you one of the new traders that are hesitant to start trading on their own? MyTrader claims to exist in the market to assist you.

Let me help you see if MyTrader is the right MLM service to guide you.

DISCLAIMER:
This My Trader Review has been thoroughly researched with information and testimonials that are available online to anyone in the public. Any conclusions drawn by myself are opinions.

Table of Contents

Pros: What I Liked

  • Real-Time Financial Data
  • Automated Trading Option
  • Great Technical Assistance
The Good

Cons: What I Didn't Like

  • Withdrawal Issues
  • Missing Webpage
  • Inoperational Company
The Bad

Chances are you heard about MyTrader because someone – a friend or family member – introduced you to the company. Maybe you attended an online workshop, webinar, or maybe an in-person information session.

Your head’s probably spinning. This might be the first time you’ve heard about a real way to make money outside a typical job.

So first off, congratulations!

You’ve just entered a whole new world…the world of making money on your own terms.

However, you came in through the wrong door.

Because MyTrader is – plain and simple – an MLM. Throw whatever fancy name you want on it…multi-level marketing (MLM), network marketing (NWM), direct sales, or anything else, it’s the same concept:

You pay some money upfront for the “opportunity” to sell products.

The products are typically low-quality but with high price tags (because of fancy labels and stuff).

You’re told that the key to building your own successful business is selling these products to friends and family, and getting them on a subscription (so you get “monthly recurring revenue”).

Unfortunately, like most people who get taken in by these types of schemes, you’ll quickly discover that the well runs dry faster than you imagined.

After all, they make it sound really simple. “Just get five people you know onto this magic widget, and things will just grow from there.”

And in your head, you think “How hard can it be? I know plenty of people, five will be easy.”

But then you do it, and you realize people look at you like you’ve joined a cult. You’ve become “that person”, who joined an MLM and is now trying to sell questionable products or services to everyone they meet.

It puts a strain on your relationships, and you end up stuck between two worlds.

But it’s not your fault. These companies spend millions of dollars each year figuring out exactly how to brainwash and recruit people. And that’s why we’re here.

To help you find a better way before it’s too late.

So, what if there was a way you could build a passive income stream that’s actually passive?

An income stream that doesn’t require:

  • Inventory
  • Selling to friends and family
  • Selling to strangers
  • Recruiting people
  • Dealing with questionable products that weigh on your conscience

An income stream that brings in consistent revenues every single month (from a couple of thousand dollars to well over $10,000)?

An income stream you could build in your spare time, and grow as large or as small as you want to, without having to spend hours a day chasing, selling, or managing anything?

If that sounds like something you’d be interested in, check out Digital Real Estate. 

TESTIMONIAL - STILL GETTING PAID

This is nothing like MLM, and that’s probably a good thing.

However, if you’d still like to know more about MyTrader, keep reading.

What Is MyTrader?

Forex Market Trading

MyTrader is a global online trading platform that facilitates transactions on the foreign exchange market (Forex). It claims to help you reach your investment objectives in different markets.

The company provides round-the-clock, high-quality technical assistance and makes it possible for traders to participate in the Forex market.

It is a user-friendly trading platform, providing users with access to a wide range of trading tools and resources. These includes:

  • Real-Time Financial Data
  • Technical Analysis of Various Financial instruments
  • Option to Employ Automated Trading Strategies

However, when I tried to dig deeper, I can’t see important information like their market volatility, contract fee, service fees, and other fees/ pricing whatnot.

There are also no details if this MLM company trades in futures, stocks, or crypto. Of course, it is not commission-free for brokers.

Who Is The Person Behind MyTrader?

Who Is The Person Behind MyTrader

Nicky Raymond Franco is a CPA and a Chartered Financial Analyst (CFA), both of which he earned in the year 2000.

Both the online brokerage service MyTrade and the research department at Abacus Securities report to him.

How Much Does MyTrader Cost?

How Much Does MyTrader Cost

MyTrader imposes a commission fee rate of 0.25% (which is 1/4 of 1.0%) on the gross amount of each purchasing or selling transaction, with a minimum commission fee of 20 per trade.

In addition to the commission, a value-added tax in the amount of 12% is charged.

Securities Clearing Corporation of the Philippines (SCCP) charges a fee of 0.01% of the gross trading value, and the sales tax is 0.6% of the total trade value.

Is MyTrader Worth It?

Is MyTrader Worth It

Before starting an account in MyTrader, it is essential to see if there are positive and negative reviews about the funds entrusted to them.

An affiliate member commented said that he checked the Forex broker of MyTrader to investigate the withdrawal. He attests that it is worth more than the original cost you will be there.

Yet there are also some members ranting about how they can’t get a dime after starting MyTrader’s affiliate program. It was only good at the beginning, said the member.

On the other hand, MyTrader is said to be inoperational today. Some lost their money they can’t withdraw.

Sadly, there is no way I can validate these claims as I am not part of their affiliate program. I can’t also verify the credibility of the advantage and disadvantages of the program as I can’t find their webpage.

Is MyTrader A Scam?

MyTrader Review

So, is MyTrader a scam?

Not technically. You can make money with this program, but it’s definitely not as easy as the company makes it sound.

There’s a ton of work to be done upfront, no real guarantee of success, and – most importantly – the actual commissions are pretty small.

Now, there’s nothing wrong with front-loading the work and making the money later.

But if you’re grinding it out for three months and then your reward is a $50 commission, it’s not worth it.

What if, instead, you could do that same three months of work (in your spare time), and your reward was a $500 to $2,000 payment that came in every single month?

And what if you didn’t need to wait three months? What if you could get started today and have your first payment in a week?

And what if you could double it next week?

Well, that’s the power of Digital Real Estate

And, unlike an MLM, you can legitimately do this from anywhere. It’s a true lifestyle business.

Your laptop and an internet connection are all you need.

Some of the most successful students in this program run their entire 6-figure businesses from:

  • A camper in the middle of the woods
  • A beach chair on the water in Mexico
  • A small villa in Greece

TESTIMONIAL - SAYING GOODBYE TO OUR JOBS

They’re able to travel around, living their lives first, and focusing on their income second.

Because even if they stop working for an extended period, the money keeps coming in.

So adventure, memories, and experience are the top priority.

And they never have to worry about how to pay for the next trip or consider asking for time off.

If this sounds more like the type of life you want to lead, just click here to find out more about Digital Real Estate.

Are There Alternatives To MyTrader?

are there alternatives

Yes, there are plenty of MLM companies to choose from if you want to pursue this business model. Here are just a few:

What Is My Top Recommendation In Making Money From Home In 2023?

Digital Real Estate

Our review team has spent months researching, reviewing, and vetting dozens of business models and thousands of programs.

While there may be no “perfect business”, the research IS conclusive:

Digital Real Estate is the #1 online business model for those just starting out.

Whether you’ve never made a dollar online, or you’ve been in this space for a while but never really “made it,” Digital Real Estate is for you.

Why?

1) It’s Flexible: got an hour a day? You can do this. Ready to drop everything else and dive in full-time? You can do this. Yes, the more time you put in, the faster you see results. But even with a little time each day, you can move the needle in a Digital Real Estate business.

And because this system is so flexible, you don’t have to constantly be working to make more money. It’s called PASSIVE INCOME because if you stop working, the money doesn’t.

Imagine taking 3 months off to just tour around Europe, rent a cabin in the woods to write a book, hike the Appalachian Trail, or live on the beach and surf all day.

This is only possible if you have an income stream that’s not tied to your time.

TESTIMONIAL - JUMP ALL IN

2) You Own & Control EVERYTHING: With MLMs and Network Marketing, you don’t own anything. You have no control over the quality of products. You don’t even own your “team”.

Look at the fine print for most of the agreements folks sign when they join one of these companies. At any point, the company can change your commission structure, reduce your profit margins, or kick you out entirely.

With Digital Real Estate, you own the assets, which means you have all the power and control.

TESTIMONIAL-FEELING-BLESSED

3) Little To No Startup Costs: It’s possible to get into Digital Real Estate with zero dollars upfront. Because, using the strategies outlined in this program, you can get a client to pay you BEFORE spending a penny out of your own pocket…even before you do any work.

Even without getting paid in advance, you can have your first Digital Rental Property up, running, and generating profits for less than $100.

TESTIMONIAL-SCOTT-LEAD-GEN

4) No Inventory: Alright, so most MLMs don’t make you buy the products and fill your garage with them anymore (unlike the good ol’ days), but you’re still in a physical products business.

And physical products always have physical limitations. Even if you don’t have to manage the inventory, you still have to deal with supply chain shortages that cause major delays.

Imagine finally landing your first customer, and then losing them after one sale because they had to wait 6 weeks to get their order.

With Digital Real Estate, a 100% online business, you never even have to think about that risk.

TESTIMONIAL - ANNA DONE DEAL

5) Easy To Duplicate: Ok, here’s the best part: once you have your first Digital Rental Property up and running, you can literally DOUBLE your income with a few clicks, a couple of keystrokes, and a single phone call (and you don’t need the phone call).

Remember: each Digital Rental Property is worth $500 to $2,000 a month in semi-passive income (over 95% profit). Every time you decide to create another one and increase your income, it gets easier.

Because you have more knowledge, more experience, more results, and more momentum.

If you wanted to double your income with an MLM, you’d have to double your customers OR double the average order size of your existing customers. And, guaranteed that’s a lot harder than a few clicks and a few minutes of your life.

Lance Lead Gen

6) Make Money Helping Real People: This part is what makes it all worth it. In an MLM, your “upline” might convince you that what you’re selling improves people’s lives, but deep down, you likely know that’s not true.

Most of the time, you’re either selling a dream or a poor-quality, overpriced product with a fancy label.

And that makes it pretty hard to sleep at night.

But with Digital Real Estate, you’re helping people by solving your clients’ biggest problem:

Small, local businesses need more customers, and with Digital Real Estate, you are unleashing a flood of happy, paying customers for these businesses.

You make money by helping them make money.

Not a big, faceless corporation either…a small business owner who’s using that money to put food on the table for their family, start a college fund for their kids, or take care of a sick parent.

Once you see how Digital Real Estate makes a real impact on the lives of real people, you’ll sleep like a baby with a big smile on your face.

TESTIMONIAL-BOSS-OF-MY-FUTURE

Now, the choice is yours.

You could continue browsing, looking at opportunities like MyTrader which could one day make you money.

You could continue researching, never making a decision.

OR, you could take a look inside, consider what you want, and join a program that makes your dreams a reality. At the same time, joining a community of over 2,000 successful students that are living life on their own terms thanks to Digital Real Estate.

A consistent, reliable, semi-passive stream of income that doesn’t depend on you or your time to keep producing profits.

All while genuinely helping real people who are grateful and happy to pay for it.

If this sounds more like what you want out of life (or if you just want some nice side income), click here to learn more about Digital Real Estate.

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