Are you a part of Social Trade Biz? Do you want to know if it is fake or genuine? Read our Social Trade Biz Review and discover it yourself.
Digital India – is a government-led campaign that has become quite popular. As a result of digitalizing, the country people have started to accept and make payments digitally. As more and more people get access to cheap and affordable internet, people are looking for ways to make money online. This is a preferred method as one can easily earn money online by sitting at the comfort of one’s home. However, hundreds of companies have bloomed in the sector that it has become difficult to differentiate the genuine ones from the scammers.
No one easily trusts online methods to make money without proper verification. Especially if the method claims to help you make quick money with minimal hard work, one gets all the more suspicious. You might have heard of Social Trade through your colleagues, family members, or friends. Today, let us discuss what the company and the concept are all about.
What is social trade? Is it worth your time? Is it a genuine way of making money? How and when did it start? What are the various plans available under social trade?
Socialtrade.biz is a website that was set up by Ablaze Info Solutions. The company is based in Noida. As of today, no information about the company is available anywhere on the internet except their website, which is – www.ablazeis.com
Social Trade Biz Plans Review – Genuine or Scam?
The company was founded in the year 2010 by two individuals Anubhav Mittal and Ayushi Agarwal. Details about the company can be found on the Ministry of Corporate Affairs (GOI) website.
From the above image, it is clear that the directors invested a meager amount of 1 lakh for setting up the company.
Next, let us see the different plans offered by the Social trade website. They offer four plans called – STP 10, STP 20, STP 50, STP 100. They differ in the amount you will have to pay to be a part of a particular plan. The costing is as follows :
STP 10 – INR 5725
STP 20 – INR 11450
STP 50 – INR 28625
STP 100 – INR 57250
What is not clear from the above is, why should one pay such hefty amounts? Is there a guarantee that they will earn more than what they invested?
According to the website, you need to make an initial payment to their bank account, depending on the plan you choose. Only NEFT transfers are allowed. The account details were specified as follows:
Account Holder Name ABLAZE INFO SOLUTIONS PRIVATE LIMITED
Bank Name CANARA BANK
Branch Name Ghaziabad, UP
Account Number 1149214000021
IFSC Code CNRB0001149
As soon as you transfer the amount, you will receive certain links. The company will pay you Rs. 5 for each click on each link. You are required to provide details of your bank account at the time of registration. If you want to earn more, you should make more people join the trade within your first month. Then, you will receive more links and other incentives. Due to this feature, it is also called an MLM (Multi-level marketing) business.
Apart from the daily links, there are monthly tasks. Upon completion of those tasks, you will be duly rewarded with shoes, speakers, and many more exciting gifts.
Refund/Cancellation of plan
If you feel this is not going to work out for you, you can cancel the plan within ten working days after you have registered. Within fifteen days of cancellation, the money will be refunded to you. But once you cancel the plan, you need to wait for six months before you can sign up again.
One may wonder how the concept works. Why would anyone pay you just for clicking on a bunch of links for a certain number of times? What are they gaining out of it? You clicking on website links gives a false statistic about the number of visitors on the website. This is a way followed by certain companies to claim that they have good traffic on their websites.
The concept followed here is multi-level marketing. The general patterns observed in MLM schemes are – early entrants make a lot of money while those who register late are not even able to regain what they invested. Therefore, one must be careful about investing in schemes like the above.
Although many people claim that they have made money from Social Trade, it is not safe to transfer such huge amounts of money to an unknown account. There were some complaints from users that most of the time, the links that they received were not working properly or opening at all. Moreover, if you want to make more money, you should be able to get more people to join below you. And all this, to generate fake traffic for unpopular websites.
The truth about social trade
In the year 2017, an investigation by the police finally uncovered the truth. The director, Anubhav Mittal, would send links that would terminate at the fake servers set up by the company. Almost six lakh people were cheated by the company.
When the police started receiving more and more complaints, they investigated further. It was then discovered that the company kept changing their domain name and also changed their company’s name and installed a new board at the office.
No third-party company was involved, and all links were terminating on the fake server set up by the company themselves.
The Social Trade website does not exist anymore.
Therefore, it would be wise to stay cautious or better refrain from investing in schemes provided by unreliable sources. And this concludes our Social Trade Biz Review.