Epic Trading seem to stand out in the forex niche market. To many, it has passed the legitimacy test and it is well above the class of Ponzi or Pyramid schemes seeking the cryptocurrency let out. Although Epic Trading may not really fit in the mould of scam schemes, its operation is, to some extent, similar to that of pyramid schemes.
Epic Trading is quite open about those who run it. But investors should not be taken in by this show of transparency because the precedent of the owners of Epic Trading might be a red flag to some.
Heading Epic Trading is its founder, David McCovy who has an history with Pyramid schemes like Paycation and Evolution Travel. Also, Epic Trading President, Iverson Spencer has some connections with the not too far from clandestine Jewel Sanitary Napkins. The corporate history of McCovy and Spencer taints Epic Trading.
One of the things that disqualifies Epic Trading from being a Ponzi scheme is that it has an underlying service, Epic Scholar, that is being invested in. Through Epic Scholar, Epic Trading provides trade alerts, trading sessions, fundamental analysis, and market forecast. This trait seems to offer Epic Trading some credibility.
Epic Trading does not run on the unilevel structure or binary structure as is the norm with Ponzi schemes. Truly, the lack of new affiliates or investors might not necessarily crash Epic Trading. However, there is still pressure to on investors to bring in new recruits. Epic Trading are paid on Epic scholar subscription sold to retail customers and recruited affiliates.
Also, Epic Trading runs a twelve tiered ranking system. To move up each rank, affiliate recruitment is a major factor. Although Epic Trading cannot be said to be a Ponzi scheme, the pressure to reinvest is enough reason to be doubtful.
Another red flag is that Epic Trading provides no information about the source of its forex offering. This information is not coming from McCovy or Spenser but a third party. Epic Trading’s failure to disclose this information leaves prospective investors at a loss. Apparently, uneducated decisions about Epic Trading are going to be made.
One might be prompted to think that the automated retail feature that is common to Ponzi schemes is totally absent in Epic Trading. That’s not really the case.
“Epic Trading International, LLC is NOT providing investment advice as all trade signals are delivered to all participants uniformly without regard to an individual’s trade objectives, financial condition or suitability. Moreover, Epic Trading International LLC does not exercise trading authority over your trades. You and you alone exercise discretionary trading authority.”
Based on the above statement, it is surprising to find out that Epic Trading does allow people to sign up for Epic Scholar without signing up as an affiliate, so there is an attempt at retail.
Epic Trading might be a viable investment opportunity. With no over the top ROI promised, no pyramid structure, ownership transparency, and limited pressure to reinvest, investors looking for short term investments might go all in. Long terms investors might want to invest with an eye open though.
