Is Right Circle Trading legit or scam? Read on and find out.
One of the videos on YouTube about the subject company has the following introduction:
“Abundance morning! How are you? How’re your finances? Do you want a lot of money? Then you need to watch this video about Right Circle Trading!”
Perhaps you have seen that as well. Or, maybe someone on Facebook invited you to join the so-called business opportunity.
Isn’t this company a scam? What are the products or services that Right Circle Trading offers?
I’m glad you come to this blog.
In this article, we’ll evaluate the company’s business and determine if it is a legitimate income opportunity.
Moreover, you will also know the latest issues about this company.
Table of Contents
Right Circle Trading’s website says it helps people make money online with minimum risk. The company provides hybrid programs intended for someone who wants to achieve financial freedom through Forex Trading regardless of their capability.
That’s a good vision statement from the company, right? No, it’s not.
That is ironic. It wants to help people make money at minimal risk, yet it is using Forex Trading to achieve that.
Forex Trading is a risky undertaking. In fact, it is still illegal in the Philippines. So, if someone from the Philippines is acting as a forex broker, that’s a red flag.
Right Circle Trading claims its professional team has a combined 20 years of experience in providing innovative trading products that meet the specific needs of the online community.
That claim is a lie.
As a matter of fact, the founder of this company has a trading experience of 3 years only.
A quick search around the web revealed that Mr. Alberto O. Andrada founded Right Circle Trading. He said to be from Arizona, USA.
He claimed as a former financial analyst in Shoreline Financial Services and a consultant for companies in raising funds through IPO, etc.
How long has the company been operating?
Records from the SEC showed the company was registered on July 23, 2019. It’s a lie to claim that the company has been in the Philippines for 3 years now, like what the promoter below did.
If you saw an SEC registration dated before July 23, 2019, don’t believe in that. That is false. The SEC of the Philippines clarified this information in its advisory to the public against investing in Right Circle Trading.
Furthermore, using DomainTools, you will know when was the site registered.
You will be shocked. It still 86 days old as of October 22, 2019. The website was created on July 28, 2019, a few days its SEC registration.
Products and Services
Right Circle Trading has no available products or services for sale. They get your money and will let it grow for you using Forex Trading. They guaranteed you an unrealistic return of 50% or 100% of your investment within 20 days and 30 days, respectively.
How to Join
Joining the company is simple. You can create an account quickly. Just go to their website (ricghtcircletradinginc.com) and fill out the form.
However, to make money with this company, you need a minimum investment of Php1,000. The mode of payment is via bank deposit. After depositing the money to the founder, you will log in to the dashboard and upload our deposit slip.
Right Circle Trading offers an unrealistic return on your investment. There are two plans that the company offers. These are the “20 days plan” and “30 days plan”. Besides, an investor can earn a Unilevel Outright Direct Referral Bonus.
In the 20 Days Plan, you can earn 50% of your investment within 20 days. If you choose the 30 days plan, you will make 100% of your capital. You don’t have to do anything other than wait for your payout.
It sounds like a good investment, right? Not really.
Let me ask you these questions.
Is it possible to earn that much? Do you think they provide you with those guaranteed returns?
We don’t think so. And the SEC doesn’t believe either.
Before you that send that money to the founder, read the next section first.
Why Right Circle Trading is a Scam
Right Circle Trading offers an unrealistic return for your investment. A return of 50% within 20 days or 100% within 30 days is impossible to achieve.
If it is too good to be true, then it is a scam.
Moreover, the SEC issued an advisory to the public against investing in this company. The SEC says:
“Based on the information gathered by the Commission, RIGHT CIRCLE TRADING INC. has been enticing the public to invest in the said entity online or through the internet via any of its “COMPENSATION PLANS”(“20 days plan” and “30 days plan”) with promised BONUS (Unilevel Outright Direct Referral Bonus).
The public is hereby informed that any offering to the public which involves investment of money in a common enterprise with the expectation of profits primarily from the efforts of others, constitutes an investment contract, a form of securities that needs to be registered with the Commission. Thus, the public is hereby WARNED that selling or offering for sale of such investments are considered as selling or offering for sale of securities subject to the regulatory authority of this Commission.”
So, you see. The SEC warned you to avoid this company. It specifically states:
“Note that the registration of RIGHT CIRCLE TRADING INC. with the SEC does NOT authorize the said entity to offer, solicit, sell or distribute any investment/securities. Such activities require a Secondary License from the Commission and the securities or investment products to be offered for distribution or sale to the public should likewise be registered under Sections 8 and 12 of the Securities Regulation Code (SRC).”
Criminal Liability if You are a Promoter of this Scam Company
Are you still interested in promoting Right Circle Trading? Think again. Based on the SEC advisory, you could be criminally liable.
“As such, those who act as salesmen, brokers, dealers or agents of these companies in selling or convincing people to invest in the investment scheme being offered by these entities including solicitations and recruitment through the internet may be prosecuted and held criminally liable under Section 28 of the Securities Regulation Code and penalized with a maximum fine of Five Million pesos (P5,000,000.00) or penalty of twenty-one (21) years of imprisonment or both pursuant to Section 73 of the SRC.” The SEC added.
NBI Raids Right Circle Trading Office
Last, October 18, 2019, ABS-CBN, reported that the NBI raided Right Circle’s Trading’s office at Kamuning, Quezon City. During the raid, 8 suspects were arrested.
Right Circle Trading Incorporated is a scam. Hence, you should avoid it at all costs. The company offers unrealistic and guaranteed returns to its potential investor without doing anything.
Also, the SEC flagged the company for selling an unregistered investment. ABS-CBN reported that the NBI raided Right Circle’s office in Quezon City, and 8 suspects were arrested.