Iconatek fails to offer possession or government data on its web site.
Iconatek’s web site area (“iconatek.io”), was privately registered on April twenty seventh, 2023.
If we check out Iconatek’s web site source-code, we discover a references to iVicsant Applied sciences.
iVicsant Applied sciences is a software program developer catering to Spanish-speaking clientele.
The corporate doesn’t seem to exist exterior of a WhatsApp contact quantity.
Regardless, from this we study the admin of Iconatek doubtless speaks Spanish. We can also’t rule out whoever is operating iVicsant Applied sciences can be operating Iconatek.
As at all times, if an MLM firm just isn’t overtly upfront about who’s operating or owns it, suppose lengthy and arduous about becoming a member of and/or handing over any cash.
Iconatek’s Merchandise
Iconatek has no retailable services or products.
Associates are solely capable of market Iconatek affiliate membership itself.
Iconatek’s Compensation Plan
Iconatek associates make investments cryptocurrency on the promise of a passive return.
In an Iconatek advertising video uploaded to YouTube on Might nineteenth, 2023, Jeremy Barnett states;
Welcome to Iconatek. I’m tremendous excited to be utilizing their software program and their buying and selling AI.
I’m getting us round eight to 10 p.c a month. Very constant. Very stable.
Iconatek pays referral commissions on invested cryptocurrency down two ranges of recruitment (unilevel):
- stage 1 (personally recruited associates) – 10%
- stage 2 – 5%
Becoming a member of Iconatek
Iconatek affiliate membership is free.
Full participation within the connected revenue alternative requires an funding in cryptocurrency.
Iconatek solicits funding in varied cryptocurrencies.
Iconatek Conclusion
Iconatek represents it generates exterior income by way of foreign currency trading.
Iconatek is a distinguished on-line foreign exchange and commodities brokerage, offering its customers with the chance to interact in buying and selling actions in Foreign exchange, commodities, securities, and shares independently.
This requires registration with monetary regulators, which Iconatek fails to offer proof of.
Ditto audited monetary stories, which is the one option to confirm Iconatek is definitely paying withdrawals with purported foreign currency trading income.
If we take Iconatek promoter Jeremy Barnett for example, he’s based mostly out of Florida within the US.
Neither Iconatek or Jeremy Barnett are registered with the CFTC or SEC. Which means at a minimal, Iconatek and Barnett are committing commodities and securities fraud.
Because it stands the one verifiable income getting into Iconatek is new funding.
Utilizing new funding to fund withdrawals would make Iconatek a Ponzi scheme.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This may starve Iconatek of ROI income, ultimately prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, the vast majority of members lose cash.
