Auto Trade Gold offers 1:500 leverage, 1.5% daily returns, and bot trader subscription packages, relying on a delegated ASIC license from LEGO Market LLC LTD.
The platform is a part of Panthera Trade Technologies, designated as one of the introducing brokers for another overarching enterprise, LEGO Market LLC LTD, which cues an ASIC license rabbit hole.
LEGO Market LLC LTD supposedly has incorporation from St Vincent and the Grenadines, although the country does not have any legislation for such services. The mentioned purview is a non-existent National Futures Association.
Moreover, the AutoTrade Gold 5.0 registration portal links to Panseka and Panthera Trade as facilitators. So, the affiliation is atypical for the regular forex broker stints online. Besides bots, members can also earn profits from the compensation grids and loyalty perks on the site. Learn more about the company in this post.
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Auto Trade Gold: About the Company
There isn’t much information about Auto Trade Gold online save a few scribbling about connections to Panthera.
Panthera offers similar brokerage to Auto Trade and serves as a front for LEGOMarket LLC LTD. The several itineraries are covered by a single license from the Australian Securities and Investment Commission (ASIC), although chunks of the user traffic come from the U.S. and Indonesia.
Also, the said license from St Vincent and the Grenadines seems a vague write-off since the country does not have any regulations for forex and binary options brokers. So, what’s the deal?
Bot traders are the basic plan entirely. However, an SEC license ought not to be overlooked while buying up such securities. For one, a non-descript license from a jurisdiction that disavows offering such services cannot possibly be passed for an SEC index in the U.S., where Auto Trade Gold pulls about 47% of traffic.
According to the relevant St Vincent and the Grenadines regulatory body, SVG Financial Services Authority, any forex broker would still be liable to appropriate licensing in any region of activity. See the clip below for context.
Until such time that appropriate legislation is put in place to address Forex activities, there is no legal prohibition against a BC or LLC carrying out that activity or from so stating in its Articles of Incorporation or Articles of Formation. It is, however, fully expected that the BC or LLC would obtain the appropriate license to conduct such business in the jurisdiction where the activity occurs, notwithstanding that its incorporation or registration is in St. Vincent and the Grenadines.
Regardless of this notice, Auto Trade Gold still operates as a bot-primer, solely propped by the same inconsequential LEGOMarket LLC license.
Most companies evading proper liability regulation often use vague buzzwords as a cover. Some companies prefer throwing different dice than the delegated contract game that covers Auto Trade Gold, saying that their services are exempt from regulation as convertible bonds.
See the compensation/subscription plan for Auto Trade Gold members in the section below.
Members earn capped profits from tiered forex trader bots, booting each cycle with a subscription/deposit. Also, the plan involves a fivefold investment option. Here is how it works.
License 5 (available for $3920) _ provides a $1000000 trading capital
License 4 (available for $2800) _ provides a $100-$1000000 trading capital
Also, License 3 (available for $560) _ provides a $100-$30000 trading capital
License 2 (available for $224) _ provides a $100-$5000 trading capital
License 1 (available for $112) _ provides a $100-$500 trading capital
Affiliate Ranks include MIB, IB, Sub IB, Sub IB Partner, and Trader, each available for specified deposits and downline threshold.
Moreover, Auto Trade Gold offers extra perks via a typical MLM unilevel bonus lattice.
Unilevel Referral Commissions
A unilevel grid determines payable bonuses accruing from an affiliate’s downlines. Here is how it works.
Personal recruits occupy the First Level. Similarly, the second level is occupied by subsequent recruits by your first level downline. The process continues recursively as a reward lattice.
The available commissions per affiliate rank are as follows.
20% goes to Level 1 MIB tiers, while 10% goes to Levels 2 and 4
20% goes to Level 1 IB tiers, while 10% goes to Levels 2 and 3
Also, 20% goes to Level 1 Sub IB tiers, while 10% goes to Level 2.
Bonuses are fractions of the specified maximum deposits for each of the License packs in the affiliate compensation plan. So, you can earn profits on only four levels, calculable from the bot License you bought on the platform. Depending on your Affiliate Rank, you can earn 20% of profits on four levels.
Auto Trade Gold Conclusion: Is the Company Legit?
Since the SVG financial agencies publicly adopt a neuter status on the legal implications of offering unregistered securities in the country, Auto Trade Gold can operate as a forex broker. However, it doesn’t mean that the company is legit or legal in the U.S.
The SEC checks securities & liability frauds in the U.S. Auto Trade Gold does not have any SEC license, although it has clients from the region, making it an illegal practice.
Moreover, nothing shows that the company runs any Auto Trade Gold Robot 5.0 on the backend. Until the company provides a reliable audit and an SEC license, it remains an MLM essentially, with members hoping to profit from pyramid schemes.