If you’ve heard about Wealth Generators, that means that you’ve probably had someone within your inner circle try to sell you on a dream. But you’re smart and decided to look up a Wealth Generators review to make sure that this wasn’t a scam. Am I right?
Before you get completely sold on this product that supposedly multiplies your money using your smartphone, be sure to check out this review and many other reviews online.
What is Wealth Generators?
Wealth Generators is a multi-level marketing company that sells foreign exchange signals. In simplest terms, it means that they alert you when to trade one currency against another to make a profit. For instance, you would trade the US Dollar against the Euro, in the hopes that you can making money on one currency dropping in value and one rising against it. This is essentially forex, and it’s a dangerous trade in which even professional traders can lose a lot of money.
And yet here we have a company that is supposed to be selling financial freedom and advertises that you can create financial success with just 1-2 hours of investing per month.
Unless you’re involved in this cryptocurrency bubble (which may burst at any time), then you cannot obtain millions in just 1 hour of investing. Otherwise, what the hell is everyone doing on Wall Street?
Product Line & Results
In order for a multi-level marketing company to not be considered a pyramid scheme, they have to sell a product from which their members can gain a commission.
With WG, their flagship products are trading tips for their subscribers that starting a $49.99 per month, or their two pack bundle per month.
The one pack subscription offers its users three weekly trade strategies that are provided by Wealth Engineering, a company that Wealth Generators has equity in.
This is all fine and dandy if subscribers are able to use these trading strategies to make money, but are its subscribers actually making a profit?
Below is a YouTube video from user Darwin Lopez who posted results from March 3, 2016 to May 6, 2016.
While some Wealth Generators affiliates may come rushing in here to say past results don’t guarantee future success, there is a slight problem. They use the idea of the product being able to generate ridiculous returns, but in reality, they are just trying to get people to sign up under their “team” because that’s where the real money is.
Wealth Generators Comp Plan
As mentioned in the previous paragraph, the real way to make money with Wealth Generators is to pay a $149 sign up fee to become a generator (although they’ll try to push the $249 sign up package), a portion of which goes to the person who signed you up, another portion to those people above them in the pyramid, and some to the company.
Oh, and don’t forget, you also need to pay $129 per month to remain a member in order to be compensated.
“Wait, I’m spending all this money, but how do I get paid!?”
Well first, you should read Wealth Generators’ disclaimer that clearly states (sarcasm), that many “generators” will not earn any income during their membership. So much for wealth generating, right?
So the question still remains, how are people making money with Wealth Generators? How come all these Instagram profiles keep flashing pictures of money?
Like many dodgy MLM companies, the money is made in signing people up under you that pay the enrollment and membership fees, and then having them sign up teams of their own.
“Isn’t that a pyramid scheme?”
Legally, it’s not a pyramid scheme. The thing that protects any multi-level marketing company from being considered a pyramid scheme is that they must offer a product for which members can earn a commission.
And this is true in the case of WG, generators are able to sell regular folks on these trading signals and earned a whopping $5 per sale!
Let’s be real, though, you can’t get rich selling trading signals for $5 in commission.
As mentioned before, just like you spent $149 to become a member and then the $129 monthly cost to remain a member, now it’s your turn to sign up members under you.
Specifics About the Compensation Plan
In order to even participate in the compensation plan, not only must you remain an active member (which earns you 100 PV), but you must also have 3 active members enrolled underneath you, which would come to a grand total of 400 personal monthly sales volume.
Here’s the kicker though, if those generators signed up underneath you aren’t signing up their own 3 members, then they become discouraged and will quit. This then leaves you needing to find new members to replace the ones that have left.
Here is a visual representation of the residual commission structure:
While this picture only goes down to the 3rd level, the residual commission structure goes all the way down to level 7.
If you have levels 1 and 2 filled, you will earn 5% on all commissions. Each level that you add to your pyramid earns you 5% on their commissions.
Let’s do the math:
Level 1: 3 members x $129 monthly fee = $387, 5% of 387 = $19.35 / month
Now add levels 2, 3, 4, 5, 6 and 7 and you’ve got a nice monthly commission by screwing people into paying $129/month for a company with a terrible product.
Look, I’ve got no problem with MLM companies, but if your product involves forex and binary options in which people can lose a lot of money, then I’ve got a problem with it because honest people can lose a lot of money.
Wealth Club Bonus
If you managed to suck enough people in and they continue sucking people in, then you will qualify for some awesome bonuses.
- Maintain your three generators in Level 1 and get $129 per month
- Have your three generators maintain their Level 1’s and get $500 per month
- Make sure your Level 2’s maintain their Level 1’s and get paid $1,000 per month
…and so forth.
Here’s a chart that best shows their compensation plan (while also managing to be confusing as well):
You can definitely get rich by becoming a “wealth generator” if you ignore the product and merely build your pyramid.
Here’s the problem with that, if your only real product is the affiliate system, and not the product, then it doesn’t create a sense of passion that gets people to want to sign up.
While their product may first inspire people to make money with their cell phones, once they start losing money as others have (as shown in YouTube video above), then it tarnishes the product and company’s reputation. My Wealth Generators review might have just tarnished it some more.
There are way better multi-level marketing (MLM) companies out there that have great products that you can stand behind and it just so happens that you can also make some money selling it.
Take for instance this one MLM company that I’m apart of, they have a great product that I can sell, without needing to pressure someone to sign up for a pyramid. And they love the product and continue to reorder it every month.
If you want to know about the best MLM companies with great products and great compensation plans, then enter in your email below and I’ll send you some tips.