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Recyclebot Review – Serial Con Man Pushes Forex Bot

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Welcome to my Recyclebot review. Recyclebot is a Forex network marketing business. I am noticing a lot of Forex bot MLMs being promoted all of a sudden. I guess this is to target all the people that got burned by crypto MLM collapses. 2019 seems to all about Forex bots. This is a the second FOREX bot I have looked at. The first one AI Global was operated by a convicted fraudster. I started to wonder if that was just a coincidence or if criminals are actively being attracted to these Forex bot schemes. Wouldn’t it be shocking if this second FOREX Bot program, Recycle Bot was also headed up by a convicted fraudster. Well, I got news for you and none of it is good.

Recycle Bot also claim that they have an incredible trading bot algorithm, that does very well at FOREX trading. The Director of Recyclebot is an Australian “entrepreneur” called Laurie Suarez. Laurie full name is Lorenzo David Suarez. A quick googling indicated that he did 10 years in prison on fraud offences. That is a long sentence, reserved for the more serious criminals. 

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Well He Served His Time, Why Are You Bringing Up His Past?

Well there is a couple of reasons.

Fraud – I ignore all sorts of other crimes when I do reviews, but I will always include fraud convictions. I don’t care if you were a drunk driver or had some minor drug charges but I think investors in Recyclebot deserve to know that the Director is a convicted fraudster.

Repeat Offences After Being Released From Jail – Laurie Suarez continues to engage in fraud since being released from prison.

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If if we overlook the past of Laurie Suarez, we also need to be aware of the shutdown risk posed by a program like Recycle Bot. You see, regulatory authorities around the world like the SEC and ASIC tend to target Forex MLMs and Crypto MLMs. For one, they attract fraudsters, but really it is about operating without a securities licence in this case. Recycle Bot are offering an unlicensed security investment scheme. Once ASIC sees its headed up by a criminal, they will use this as good enough reason to shut it down.

Don’t blink because it will not take long.

The program has commissions for retail sales. They also have a networking marketing compensation plan, that rewards affiliates with residual income. They are not even smart enough to push customer sales. They make it cheaper to become an affiliate, which all but means that they will have 100% affiliates and zero customers….this brings the Department Of Fair Trading QLD into the mix. They already have Laurie on speed dial. So I guess the Feds will have to flip a coin with the QLD Department Of Fair Trading on deciding who gets to serve the summons this time. Either way, poor old Laurie Suarez might wise to sell his fleet of luxury cars and get ready for a another stretch inside!

Anyway on with the review! Maybe this time I can say Recycle Bot has joined the ranks of one of the many legitimate ways to make money online I do not promote, nor I am I affiliated with RecycleBot.

Recycle Bot – Summary

Key Figures: Lorenzo Suarez AKA Larry Suarez

Product Type: Forex Trading Bot MLM

Summary:  Customers To use the bot you pay $179 per month.

Affiliates To use the bot you pay $149 per month.

See The Comp Plan Here.

This is going to attract unwanted attention from the ASIC, SEC and Fair Trading.

Rating: D

Verdict: As much as people push FOREX trading bots, the unfortunate reality is that they work very poorly. I doubt they will have any customers using the bot to successfully trade. This scheme is all about getting affiliates to push the subscription scheme. It is not really a scam, but it is still illegal and will be shut down.

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Quick Navigation

What Is Recycle Bot?

Recycle Bot is a FOREX trading bot. The company owner is convicted fraudster Laurie Suarez. This opportunity heavily favour recruiting affiliates over customers by making it more expensive to use the software as a customer. The affiliate programs rewards with commissions to 5 levels.

As I have said previously just because Recycle Bot is headed up by a known fraudster, does not mean that the program is itself a scam. Lets be honest would you feel safe handing your money to anything that this guy is running. No, me neither!

I just keep grinding with my own online marketing which increases my income legally every month. If you are curious check out my top way to make money online.

Let’s get into the details with the products and opportunity of Recycle Bot.

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Recycle Bot Products

Customers To use the bot you pay $179 per month.

Affiliates To use the bot you pay $149 per month.

You can trade on several exchanges

There are no profit limits. VPS use is included. 

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Compensation Plan

 

Level Commission % Direct Referrals Required
1 10% 1
2 5% 1
3 3% 3
4 1% 4
5 1% 5

 

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What I Like About Recycle Bot

 

Easy To Refer

I could explain this in a couple of minutes to a prospect and they should understand it. The comp plan is pretty basic also. Recycle Bot gives the impression that you can get rick on auto pilot. That notion always proves popular with the masses.

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What I dislike about Recycle Bot

Founder Is A Convicted Fraudster

I mentioned this in the beginning. Whilst Recycle Bot is pretty sketchy without bringing in the criminal record of Laurie Suarez. There is no need to take the risk of joining this program. As a rule if a program is headed by a convicted con artist, I stay away. Feel free to ignore my advice!

High Regulatory Risk

Unlicensed Security Offering

A lot of people in online marketing seem to think that the SEC is just part of a global conspiracy to keep the common man. Whilst that may or may not be true, the fact remains that some programs are at high risk of being shut down. Whether you agree or disagree with securities legislation, you have to agree that Recycle Bot is a sitting duck for a SEC/ASIC shut down. Offering residual income through a Forex Bot in this manner is considered to be an illegal security offering, unless licensed through ASIC. Naturally Recycle Bot has no such license.

No Retail Customers

Just in case they were not provoking regulators enough, Recycle Bot decides to ensure that they have virtually zero retail customers. A would-be customer is penalized by being charged to use Recycle Bot as a customer. Naturally, everybody will buy the cheaper subscription which also ensures that everybody is also an affiliate. In Australia and the USA it is illegal to have an opportunity that focuses on recruiting other affiliates. Doing so is considered to be in Pyramid scheme territory. These laws are enfored by various state Departments of Fair Trading in Australia and the FTC is the USA.

Authorities have more than one option to shut this down!

The Real Deal With Recycle Bot

Whilst Recycle Bot is not an outright scam, it is extremely shady and high risk. Government regulators already know about Laurie Suarez. Do you really think they are going to sit back and let him run this scheme on the internet? I predict this will get a cease and desist within 6 months.

Verdict

Recycle Bot is a pretty poor offering. Its gets a D for Dud.

#theprelaunchinspector

Julian Leahy

The Prelaunch Inspector

How I Make A Living

I have developed a strategy using a legitimate affiliate program that allows me to hangout at home with the kids all day.

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