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Turbo, commonly known as “We Are Turbo,” does not offer information about the company’s ownership on its website.

Turbo’s website domain (“weareturbo.io”) was registered for the first time in 2020. On December 8th, 2021, the private registration was last updated.

Turbo’s website is in Spanish by default. All of the company’s marketing materials are also in Spanish.

Further investigation finds Turbo marketing materials naming David Merino as the company’s founder and CEO.

It’s unclear why this information isn’t available on Turbo’s website.

Before Turbo, David Merino was the CEO of Frequency:

Frequency was a multi-level marketing trading bot scam. It appears to have ceased operations on or around January 2021. Turbo’s first domain registration will take place on December 8th, 2020.

Stay tuned for an in-depth examination of Turbo’s MLM offer.

Turbo’s Goods

Turbo offers no resaleable goods or services.

Affiliates can only promote the Turbo affiliate membership.

Turbo’s Compensation Scheme

Turbo affiliates invest with the expectation of a monthly return of 5% to 17%.

Turbo claims to create returns by selling subscriptions to trading bots:

  • SA1 – 5% to 7% monthly ROI, costs $119 and then $99 per month;
  • SA2 – monthly ROI of 7% to 10%, costs $399 and then $149 per month;
  • SA3 – monthly ROI of 10% to 17%, costs $999 and then $199 each month
  • Premium SA1 has a monthly ROI of 5% to 7% and costs $1000 per 6 months;
  • Premium SA2 – monthly ROI of 7% to 10%, costs $2500 per 6 months;
  • Premium SA3 – monthly ROI of 10% to 17%, costs $3500 per 6 months.

Non-Premium plans are much less expensive. I’m not clear about the difference between the two subscriptions because the advertised returns are the same.

Turbo charges a 15% fee on generated returns regardless of the subscription chosen.

Turbo’s MLM program is based on membership fees paid by recruited affiliates.

Commissions for Referrals

Turbo pays a 20% commission on subscription costs collected from individually recruited affiliates.

  • Earn $150 when you sell a Premium SA1 subscription;
  • Earn $375 when you sell a Premium SA2 membership;
  • Earn $525 when you sell a Premium SA3 membership.

Turbo pays residual commissions using a one-level compensation scheme.

Turbo provides a residual fee of 5% on all returns paid over ten uni-level team levels.

It should be noted that recruiting is essential to be eligible for residual commissions:

  • Earn residual commissions on two uni-level team levels by recruiting one affiliate;
  • Earn residual commissions on four uni-level team levels by recruiting two affiliates;
  • Earn residual commission on six uni-level team levels by recruiting three affiliates;
  • Earn residual commissions on eight uni-level team levels by recruiting four affiliates;
  • Earn residual commissions on ten uni-level team levels by recruiting five affiliates.

Recruited affiliates must have an ongoing subscription to be eligible for residual commissions.

Commissions for Turbo

Turbo’s commissions appear to be a one-time payment.

It’s unclear what this signifies. It appears to be a straight-up increase in residual commissions but without the recruiting criteria.

In any case, the following commissions are paid out on up to three uni-level team levels via HolderX:

  • level 1 – 5%;
  • level 2 – 3%;
  • level 3 – 2%.

ShareX Bonus Pools Turbo invests 15% of monthly membership fee earnings in two rank-based bonus pools.

Each month, the first 25K entrepreneurs who recruit one affiliate get a portion of a 5% ShareX incentive pool.

50K Entrepreneurs who recruit two affiliates each month are eligible for a 10% ShareX bonus pool.

It should be noted that Turbo does not disclose rank qualification requirements.

Getting involved with Turbo

Turbo membership involves the payment of either monthly or bi-annual subscription fees.

  • SA1 – $119, then $99 each month;
  • SA2 – $399, then $149 each month;
  • SA3 – $999, then $199 each month;
  • SA3 Premium – $3500 per 6 months.

It should be noted that all payments inside Turbo are made in bitcoin.

Conclusion

Turbo’s MLM proposition raises a few red flags right away.

The first is that no information regarding the company’s trading bots is available.

Turbo is practically the same as Frequency, but with a new name. The same guys are in charge, and it’s the same trading bot opportunity.

This raises the question of why Frequency collapsed.

Also, after operating under two business names for a few years, where are the audited trading results?

Frequency, I believe, was abandoned when recruitment failed.

This would imply that Turbo’s trading bot is secondary to recruiting and generating revenue from membership payments. Turbo would effectively become a pyramid scheme as a result of this.

The second major worry is that Turbo plainly provides a passive investing opportunity.

The “lulz can’t touch our money!” approach appears to be in play. Affiliates, in other words, pay for access to a bot, which is then linked to their trading account.

Financial regulators require MLM firms that promise passive profits to register. Turbo presents no proof of registration with financial regulators.

David Merino looks to be from Spain. 

Turbo is committing securities fraud and acting unlawfully if it does not register with the CNMV or any other financial body.

The final red flag is that Turbo only accepts bitcoin for subscription fees.

Turbo characterizes its bots that engage in FX trading as follows:

The use of Bitcoin as the sole payment method appears to be an attempt to avoid regulation. When Turbo, like Frequency, falls, victim healing becomes nearly impossible.

The fourth red flag is Turbo’s 10% to 17% monthly ROI claim. If that was continuously feasible, David Merino would have been operating these bots since Frequency.

With even a tiny amount of wealth, indeed, after 2+ years of compounding monthly, would he be set?

Scams including “Lulz can’t touch our money” usually fail when the admin(s) manipulate transactions in their favor. As a result, affiliates wake up one day to empty accounts.

Common cover reasons include “our bot malfunctioned!” and “we were hacked!”

Most of the people who participate in trading programs such as Turbo lose money.

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