Beware of Turbo – Review

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 the year 2020. On December 8th, 2021, the private registration was last updated.

Turbo’s website is set to Spanish by default. All of the company’s marketing materials are in Spanish as well.

Further investigation finds Turbo marketing materials that list 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 multilevel marketing (MLM) trading bot. It appears to have collapsed in January 2021 or shortly thereafter. Turbo’s initial domain registration is scheduled for December 8, 2020.

Continue reading for a thorough examination of Turbo’s MLM potential.

Turbo’s Creations

Turbo does not sell any items or services to the general public.

Affiliates can only promote the Turbo affiliate membership.

Turbo’s Salary Structure

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

Turbo claims to make money by selling subscriptions to trading bots: • SA1 – 5% to 7% monthly ROI, costs $119 and then $99 a month • SA2 – 7% to 10% monthly ROI, costs $399 and then $149 a month • SA3 – 10% to 17 percent monthly ROI, costs $999 and then $199 a month • Premium SA1 – 5% to 7% monthly ROI, costs $1000 every 6 months • Premium SA2 – 7% to 10% monthly ROI

The non-Premium plans are considerably less expensive. I’m not clear what the difference between the two forms of subscriptions is because the advertised returns are the same.

Turbo charges a 15% fee on all produced returns, regardless of which subscription is purchased.

Turbo’s MLM business is based on membership fees paid by affiliates who have been recruited.

Commissions for Referrals

Turbo pays a 20% commission on subscription costs collected from affiliates who have been personally recruited.

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

Residual Commissions are commissions that are paid regularly.

Turbo uses a uni-level compensation system to pay residual commissions.

An affiliate is put at the head of a uni-level team, with every individually recruited affiliate placed right behind them (level 1):

Level 1 affiliates who recruit new affiliates are assigned to the original affiliate’s unilevel team’s level 2.

If any level 2 affiliates recruit new affiliates, they are promoted to level 3, and so on, up to a theoretical limit of an unlimited number of levels.

On returns paid over 10 uni-level team levels, Turbo pays a 5% residual fee.

It’s worth noting that to be eligible for residual commissions, you’ll need to recruit:

• Recruit 1 affiliate and earn residual commissions on two-level team levels • Recruit 2 affiliates and earn residual commissions on four uni-level team levels • Recruit 3 affiliates and earn residual commissions on six uni-level team levels • Recruit 4 affiliates and earn residual commissions on eight uni-level team levels

To count towards residual commission qualifying criteria, recruited affiliates must have an ongoing subscription.

Commissions from HolderX

holders commissions appear to be a bonus paid on the activities of your organization’s subscribers up to the third level!

It’s unclear what this signifies. It appears to be a simple addition to residual commissions, but without the need for recruiting.

In any case, HolderX commissions on up to three uni-level team levels are as follows:

• 5 percent at level 1; 3 percent at level 2; and 2 percent at level 3

Bonus Pools on ShareX

Turbo divides 15% of monthly membership fee earnings across two bonus pools based on rank.

• A portion of a 5% ShareX bonus pool is available to 25K entrepreneurs who have recruited one affiliate that month.

• 50K entrepreneurs who recruit two affiliates in a given month are eligible for a 10% ShareX incentive pool.

It’s worth noting that Turbo doesn’t have any rank qualification requirements.

Getting involved with Turbo

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

• Premium SA1 – $1000 every 6 months • Premium SA2 – $2500 every 6 months • Premium SA3 – $3500 every 6 months • SA1 – $119 and then $99 a month • SA2 – $399 and then $149 a month • SA3 – $999 and then $199 a month

It’s worth noting that all payments in Turbo are done in bitcoin.

Turbo Conclusion

The MLM opportunity offered by Turbo raises a few red flags right away.

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

Turbo is essentially the same game as Frequency, just with a different name. The show is operated by the same folks, and the trading bot opportunity is the same.

This raises the issue of why Frequency fell apart.

Where are the audited trading results after operating for a few years under two different business names?

After recruitment failed, I believe Frequency was abandoned.

Turbo’s trading bot, then, appears to be secondary to recruiting and profiting from membership payments. Turbo would effectively become a pyramid scheme as a result of this.

Turbo offers a passive investing option, which is the second apparent issue.

The model appears to be “lulz can’t touch our money!” Affiliates pay a fee to gain access to a bot, which is then linked to their trading account.

Financial regulators require MLM organizations that promise passive profits to register. Turbo does not show that it has registered with any financial regulators.

David Merino looks to be a Spanish citizen. The Comisión Nacional del Mercado de Valores regulates securities in Spain (CNMV).

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

Turbo only accepts bitcoin for membership payments, which is the third red sign.

Turbo’s bots participate in FX trading as follows:

The fact that Bitcoin is the only payment option appears to be an attempt to avoid regulation. When Turbo, like Frequency, goes down, it will be nearly hard for victims to recoup.

Turbo’s claim of a 10% to 17 percent monthly ROI is the fourth red flag. David Merino would have been operating these bots since Frequency if it was continuously feasible.

He’d be set with even a little capital amount after 2+ years of compounding regularly, right?

Scams claiming that “Lulz can’t touch our money” usually fall apart when the admin(s) manipulate transactions in their favor. As a consequence, affiliates’ accounts are depleted when they wake up one day.

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

The outcome is the same in either case: the majority of people who participate in trading programs like Turbo lose money.

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