I seem to be reviewing a lot of digital learning platforms that claim they can make you rich, maybe it’s some sort of trend amongst the rip-off gurus to get you in on them these days, or maybe it’s an after effect of the world’s recent situations – Who knows, but I do know that this particular one is yet another pyramid (Or MLM/Multi-Level Marketing) scheme that I’ve be investigated.
It doesn’t seem I’m the only one doing some investigation work either, as the Security and Exchange Commission for the Philippines had to issue a statement saying they are not legally registered or authorized to operate within the country.
I am, of course, talking about Epic Trading LLC – Epic Trading is a foreign exchange training platform with affiliate programs that have encompassed the program, and is setup in a traditional pyramid style with plenty of MLM bonuses added on top.
In this review, I hope to show you exactly what’s inside this training, who’s behind it, why you do NOT need to buy it and why it’s a scam.
Table of Contents
How Does Epic Trading Work?
You signup, or get referred by a member then begin your journey through the education platform – Which ultimately leads you back to referring more members.
Though the education system is primarily focused on teaching you how to trade foreign exchange, it also has programs related to crypto, stocks and binary trading.
Epic Trading works via an app that allows you to access:
- Live Alerts
- Live Trading Sessions
- Market Forecasts
- Live Analysis
- Industry Changes and Events
That being said, a lot of the data being shared itself is suspect and there have been a flurry of reports from angry investors claiming to have only ever received bad advice and
Who Is David McCovy?
David McCovy is an American entrepreneur that was born and raised in Las Vegas, Nevada and later on founded Epic Trading and Evolution Travel.
Evolution Travel also has an extremely similar compensation and affiliate system to Epic Trading.
Both Evolution Travel and Epic Trading are primarily MLM-based schemes, and have extremely low success stories and multiple scam reports across the internet.
David did a rare video interview for the Vegas Circle podcast –
In the video, at 1:12 he claims that he used to run “the largest independent concert company at the time”, yet looking at filings for “Gemini Entertainment Group LLC” (The company he owned) it looks to have gone out of business in 2019 and has little to no revenue at all.
There are various different tiers that you can subscribe to, starting at $14.95/Mo going up to $349/Mo.
Most of the lower tiers actually evolve around promoting the course itself, not any sort of financial education training or system.
The main subscription model is the University Scholar which grants access to Epic Trading services, like Epic University, forex signals, analysis tools, live webinar sessions, and more.
Epic Trading has a subsidiary called Epic University, which provides financial markets education for traders of all skill levels.
It is important to note that Epic Trading is not a broker, i.e., it does not itself facilitate the trading of financial instruments. Rather, it provides aspiring traders with relevant and helpful information so that they can be successful in their own trades—but unfortunately, those who elect its assistance will still have to trade for themselves on some third-party platform such as MetaTrader 4 or 5 (if this isn’t confusing enough already).
The platform offers a broad range of resources to try and educate you on not just Forex trading, but also the stock market, crypto, travel and more.
The company provides its services both online and through a mobile app. The app is available for free download from the Google Play Store and Apple App Store, enabling clients from all over the world—from England to Qatar, Trinidad & Guyana as well as across Asia —to take advantage of this opportunity.
Before investing, check whether you can use a financial instrument in your target market.
Commission & Compensation Plan
Just like every other MLM and pyramid scheme I’ve written about on this site, David has commissioned a fancy graphic to make it seem like his “compensation plan” is more legit.
As you can see from the graphic above, you have access to various different “plan earnings” depending on your “rank”, aka your place within the pyramid.
They use a system called PayQuicker, which has it’s own problem reviews online but does seem like they will pay you out – Dependant on if David funds the account to do so, or not.
PayQuicker is an international payout platform that enables everyone to get paid every Friday, regardless of where they are based in the world. You can soon use Bitcoin for payments, too!
Epic Trading Contact Details
- Support Email – email@example.com
- Phone # +1 1800-893-8261
Epic Trading FAQs
You collect your money using PayQuicker, a legitimate service that should allow you to withdraw money from the pool as long as the owner of the company funds the account.
Whilst it is not compulsory to do so, it is the primary and cheapest method for people to “join” the program and means the entire bottom layer of members is purely there to promote the company – Which in my opinion, does make Epic Trading a pyramid scheme.
The company was founded in 2020 by David McCovy.
There are a lot of paid-for reviews and affiliate partners promoting the service, but in my opinion, all of the information inside is basic and can be found from elsewhere on the internet.
David has also run the exact style of pyramid scheme before, but in the travel niche, making you wonder if he is an expert of anything or just a scammer of all trades.
It is not a scam in the direct sense of the word, but we do not believe that you will get the return on the investment you make into the product.