Welcome, my friend! Honestly, I’ve been expecting you to visit my website and read my CK Ltd review!
Actually, this review is mainly for readers from Malaysia, China and Taiwan, but you’re still encouraged to read this review even if you’re from other countries.
I believe the knowledge you get from this review will help you to differentiate the potential scams in the future.
First of all, I must congratulate you for doing your due diligence to research before buying into any “seemingly good” product/service.
To be honest, I’m not as smart as you because back in the day, I’m the kind of person who’ll impulse buying a product/service that “I think” it’ll bring me substantial returns.
And I’m sure you guess it right, I GOT SCAMMED. For sure, I was upset and get angry on the scammer, but when I took the time to reflect on myself, I think that’s all my fault.
If I can think rationally and do in-depth research on the Forex Mirror Trade MLM Company (The service that I bought into), I might not end up being scammed.
That’s why I say you’re smarter than me.
But, if you’re already joined their service. Then, I think you’ll need my unbiased review on CK Ltd, and consider whether you should continue their service or quit ASAP.
Without further ado, let’s get started!
Table of Contents
1) Regular events
2) They don’t emphasis on recruitment
Overall SCAM Rating: 50/100 (You’ll never know it’s a scam or not for this kind of financial service.)
Recommended: Not Really
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What Is CK Ltd?
Based in Malaysia, CK Ltd is a Multi-Level Marketing (MLM) company that focuses on the Forex trading niche. The date of launch and its owner are not disclosed.
As their targeted audience is solely Malaysian Chinese residents, and they’ve no official website and social media profile, so there’s no way for you to research their background on the internet. I can only collect the information through the words of mouth from their current members.
They claim to provide professional Forex trading training and the regular trading tips with the high winning rate, which will be shared through their chatting group.
However, as I’ve known, Malaysia has strict regulations on any Forex activities, and I believe this also applied to most countries. So I’m not sure if they’ve been permitted by the government to run such events in Malaysia.
How Does CK Ltd Works?
As yet, the Forex broker that partnering with CK Ltd is Tradesto. This is the part that’s getting tricky when I try to research the background of this broker.
Guess what? There’re many red flags about this broker, which I’ll explain in more detail in later chapters. Likewise, this broker is also the reason why I don’t recommend CK Ltd to anyone.
Other than that, CK Ltd is also a corporate authorized representative of Big Brain Bank – An e-learning platform founded by Bredon Yong in 2019. In other words, they’re an associate of Big Brain Bank.
This learning platform offers a range of learning packages that cost around MYR2,500 – MYR20,000 (USD590 – USD4,700).
Inside each learning package, they’ll teach you some sort of financial knowledge related to Forex trading, investment guide, and financial planning.
How To Make Money With CK Ltd?
This might be the part that you’re most concerned about.
As I’ve mentioned earlier, there’s no information about this organization available on the internet. So I’m getting this information about their compensation plan through the words of mouth from their current members.
To be honest, when I first heard about their compensation plan, it is quite complicated (at least for me).
But no worries, I’ll try my best to summarize everything for you and make it understandable as much as possible.
Basically, there’re 5 income sources that you’ll be earning once you’ve joined their organization.
To give you clearer insights, I’ll explain it one by one, and then show you how they pay out their commission via a unilevel compensation structure.
|Position||How do you get paid?||Remark|
|Promoter||You'll get paid for a commission after someone bought the learning package through your referral.|
|Self-Trade or Investor||You earn money through self- trading or investing in their EA/Mirror Trade Service.|
|Pips Income||You'll get paid for a commission when your downlines make money through self-trading.||This is the part that tied to their unilevel compensation structure.|
|Partnership Bonus||You'll get paid once you find funding from an investor who wants to invest in Tradesto.|
|Profit Sharing||Once you've enough experience, and being promoted as their "Master," you've got the chance to offer mirror trade service to anyone who wants to invest in you.|
The Compensation Plan
As what I’ve known, the pips income is the only income source that tied to their unilevel compensation structure.
I’ll give you a step-by-step explanation to show you how their compensation works.
1) Understanding the relationship between trader, Forex broker, and bank.
Let’s say if you want to get started with Forex trading today, it’s unlikely for you to trade currencies with a bank directly because the minimum funding is about US100,000.
Hence, a Forex broker plays a significant role because of the leverage level, which provides you a chance to get started with a way less funding.
With the leverage level, they allow you to trade much bigger volumes than you would, using only your limited amount of trading capital.
With that said, you’ll need to pay some service fee to the broker, what they coined as “spread.”
“Spread” will be charged by the broker whenever you make money from a trade, and it will then distribute evenly to the bank, Introducing Broker (IB), and the broker itself.
2) How does IB get paid by the “spread” from the broker?
This is where their compensation plan starts to kick in. It takes me quite some time to understand how it works because I never see such an MLM program before.
Here’s how it works:
- Let’s assume Person A to person F is qualified as IB, and you are the person A.
- You have the downlines up to 5 levels so far (person B to person F).
- If the person E is trading today, and make money from it. The broker will charge person E for a small amount of service fee (“spread”).
- As I’ve mentioned earlier, a small portion of “spread” will be given to the IBs. So when person E makes money, the first 4 levels before person E (person A to D), they’ll receive the same amount of commission.
Now you might ask: “But what if the person F make money?”
Same concept, the first 4 levels before person F (person B to E) will be the IBs get paid, except for the person A.
*Please note that it required you to pay an upfront funding of 1k USD and find 3 direct clients to be qualified as their IB.
It’s Confusing! I Know.
Don’t worry if you don’t understand what I’m trying to explain to you.
I think the things you should concern are the reasons why don’t I recommended CK Ltd to any newbies who want to learn to make money online, which I’ll be going into more in-depth in the coming chapters.
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1) Regular events
They host a lot of events regularly, such as live trading, trading training, and weekly grouping. I like this because I think that a beginner would get so many values from it. Not only about financial knowledge but also the right mindset in trading Forex.
Also, the supports from the group members will help a lot when you have questions on self-trading. As there’s a saying goes:
“Learn from someone better than you is the shortcut to success.”
2) They don’t emphasis on recruitment
Unlike other MLM companies out there, I don’t think their compensation plan has a heavy emphasis on recruitment.
Although their compensation is still tied to MLM structure, it’s been designed to make it more like a “fair game” to everyone, in my opinion.
In this section, I’ll talk about the 5 reasons why I DO NOT recommend CK Ltd to anyone, period. 2 of them are because of the questionable broker, and another 3 reasons are because of CK Ltd itself.
1) Low Rating On WikiFX
I’ve got a screenshot that can prove to you that Tradesto has a very low rating on wikiFX – An authority website in providing information about brokers around the globe. And here’s the screenshot:
2) It’s not well-regulated
On Tradesto official website, they claimed that they’re supervised and regulated by the authorities of Saint Vincent and the Grenadines (SVG FSA), and the Vanuatu Financial Services Commission (VFSC).
They also claimed that they’d been registered under the Australian Securities and Investments Commission (ASIC) with registered body number 616 567 698.
And here comes my doubts:
- The regulation or even licensing of the Forex business is not a part of the SVG FSA activity, as stated by the official warning.
- If you’re experienced in the Forex industry, you’ll know that Vanuatu VFSC is “well-known” in poor regulation.
- Tradesto does have a record under ASIC. But the fact is: It’s registered under Australian Registered Body Number (ARNB), which has nothing to do with any financial services.
They supposed to be registered Australian Financial Services Licence (AFSL), but they don’t.
Some quick lesson about the difference ARNB and AFSL
|License||Short Form||What's it for?|
|Australian Registered Body Number||ARNB||ARBN is issued to registrable Australian bodies and foreign companies.|
|Australian Financial Services Licence||AFSL||AFSL is a required licence for any Australian business involved in the provision of financial services|
What’s Worng With CK Ltd?
3) Unrealistic High ROI
Let me ask you a question:
Have you ever heard about any investment in the FX market that could bring you 20% to 300% ROI per month? I doubt it, but this’s how they promise to their investor. And they do make it happened before.
But still, people should take these results with a grain of salt.
Even the smartest investor in the world – Warren Buffett, he’s only making an average ROI of 20% from his entire investment every year. Note that it’s “yearly,” not “monthly.”
4) Malaysia’s strict regulations on FX Trading
As I have mentioned earlier, Malaysia applied strict rules on FX trading activities within the country.
Central Bank of Malaysia and money charger are the only 2 parties that are allowed to involve in the Forex industry in Malaysia.
Therefore, I don’t know if CK Ltd is holding a regulated license from the Malaysian Government or not.
You can read the full article about the Forex license and regulation in Malaysia here.
5) Numerous Former Member Complaints
So, Is CK Ltd a Scam?
I can’t make a definite judgment to claim that CK Ltd is a scam, but it doesn’t mean that it’s legitimate either.
Here’re why do I say so:
I think that’s more than enough reasons for you to THINK TWICE before joining CK Ltd as there’s a big risk for you to lose everything overnight.
You Deserve A Better Opportunity
Kudos to you! You’ve just read 2100+ words and still counting. If you make it this far, I commend your commitment.
Meanwhile, I can also feel how serious you’re when it comes to finding a proper way to make money from home.
As you might know, MLM is a flawed business model.
For sure, there’re still people who make a good amount of money with MLM. But it often represents a tiny group of people who joined the program early.
That said, it’s challenging for people who’re BOPs (bottom-of-pyramid) to make some serious dough because they’re running out of people to “recruit”.
Instead, Affiliate Marketing is my top recommended business model for anyone to make money from home.
The reason is simple…
Advantage 1: No Recruitment Needed
- You don’t need to “chase” after people and talk them into MLM opportunity where most people lose money.
Advantage 2: Freedom of Choice
- You can promote any products you love and not be restricted only to promote the products from one MLM company.
Advantage 3: Low Startup Cost
- Unlike MLM, where you’ll need to pay a pricy introductory fee to join, it takes little to no startup cost to kickstart your entrepreneurial journey in Affiliate Marketing.
You might think I’m biased, but I’m just telling the truths…
If you are sick and tired of MLM and “Biz Opp” Scams, click the “Learn More” button to discover my top recommended learning platform that can help you turn your passion into profits with Affiliate Marketing!