With a promised annual return of up to 30%, investing in Profit Connect is surely appealing. After all, who wouldn’t want some ‘guarantee’ when they’re putting their hard-earned money to work.
Before you invest in any of Profit Connect packages, read up what I’ve found about the company. It’ll be a painful experience if it turns up to be nothing but a scam.
What Is Profit Connect
- Name: Profit Connect
- Founder: Eddie Kona
- Website: profitconnect-wealthservices.com
- Cost: from $49 per month.
- Rating: 2/10
Profit Connect Wealth Services seems to be a product offering of Profit Connect. It denies that it’s offering financial or banking products and therefore, doesn’t agree with the term ‘investment’. On its website, The company claims that it’s dealing with AI supercomputers, blockchain, stock, and forex trading.
The parent company, Profit Connect, was founded by Eddie Kona. Its primary area of interest is in Supercomputer Ai. It is leveraging the power of two supercomputers to potentially venture into different areas of interest. One of them is Wealth Services, which is what this article is all about.
At a glance, Eddie Kona seems legit with an active Linked In profile. Being an owner of a cutting-edge supercomputing company doesn’t sound like a scam either. But what Profit Connect offers in its Wealth Services does indeed raise red flags.
What Does Profit Connect Offer
In Profit Connect’s preferred term, its Wealth Services products are a range of Ai Supercomputer Seats. These seats are where you placed a certain sum of money and enjoy a fixed annual return rate over a specific tenure.
The AI Supercomputer Seats are offered as a one-time product or on a subscription basis.
Here are the finer details of the minimum deposit and the returns for the one-time products.
- Wealth Builder Unlimited – 20% fixed APR, from $1,000 deposit.
- Wealth Builder Home Equity – 20% fixed APR, from $25,000 deposit.
- Wealth Builder Youth – 20% fixed APR, from $500 deposit.
- Wealth Builder VIP – 30% fixed APR, from !,000,000
These one-time Ai Supercomputers have a high barrier of entry and not all could afford them, which brings us to the subscription-based products.
- Wealth Builder 50 – 15% fixed APR, $50 monthly deposit.
- Wealth Builder 200 – 16% fixed APR, $200 monthly deposit.
- Wealth Builder 600 – 17% fixed APR, $600 monthly deposit.
- Wealth Builder 1,00 – 20% fixed APR, $1,000 monthly deposit.
The returns of both types of products are calculated based on monthly compound interests. Withdrawal of the monthly subscriptions can be made each month, while the one-time products have a quarterly withdrawal window.
For all the talk of not offering investment products, these Ai Supercomputer seats do sound like one. No matter how you play around with nuances, it’s an investment when you place a deposit and receive a return.
Apparently, your deposits are held in FDIC-NCUA insured business accounts, which is some sort of guarantee of your money.
How Do You Make Money From Profit Connect?
Well, if you have $50 to spare, you can subscribe to its lowest-entry product, the Wealth Builder 50. However, the subscription requires a monthly commitment of the same amount to keep it active. The ROI is the lowest amongst other packages, which are more expensive capital-wise.
Alternatively, you can participate in Profit Connect’s MLM marketing and earn from its commission.
There’s a caveat though — you’ll need to pay a monthly membership fee based on the tiers:
- Bronze – $49/month.
- Silver – $259/month
- Gold – $499/month.
As a paying affiliate, you’ll earn commissions of up to 20%, whenever your referral purchases an investment package.
However, you’re more likely to get a 10% cut rather than a 20% because of how Profit Connect MLM structure works. Profit Connect adopts the classic uni-level structure. Your immediate referral is placed directly on a tier below.
20% of each sale is allocated for commissions, where 50% of that goes to the affiliate closing the sale and the remaining 50% goes to the upper level. For the latter 50%, it will be halved for each higher tier.
While you won’t be earning the full 20% of commission, you’ll be making portions of residual income from your downlines.
What I Like About Profit Connect
1. Realistic ROI
Even with Profit Connect’s insistence on not being labeled as an investment company, what matters is the ROI. The ROI of its products ranges between 15% to 30% per annum, which is quite realistic as far as trading is concerned.
I can easily generate the same returns (or better) by doing social trading on eToro.
Things I Dislike
1. Guaranteed ROI
No legit investment, whether powered with the latest supercomputer or old-school strategies can produce guaranteed returns. The only way you can get a guaranteed return is to put your money into a fixed deposit account, but you’ll have to put up with the measly interests.
I find it irresponsible for Profit Connect to promise a fixed ROI even if it’s within the realistic range. Based on my experience, only scams would brandish such promises. This is a major red flag here.
2. Expensive Pay-To-Play
If you’re into Profit Connect for its MLM opportunity, it’ll cost you at least $49 per month. That’s close to $600 a year. For a company that’s relatively new and lays its business opportunity with jargon like Ai and blockchain, it can be extremely hard to convince people to part with their money for the Supercomputer Seats.
Even if you could, you will potentially lose money in the end. This is not a bluff but from a study published by the FTC. The study shows that 99% of recruits are worse off financially after joining an MLM opportunity.
3. Not Regulated by SEC
AI supercomputer and what not. Call it whatever you want but Profit Connect is offering investment products. Being a company that operates in the US, it needs to be registered with the SEC before it can start offering its products to the public.
Neither Profit Connect nor Eddie Kona is registered with the SEC. You can do a quick check on Investor.gov.
Being unregistered, the company is not obliged to file its returns to the SEC. It also means that you can’t know for sure if your deposit is used for real investment.
Verdict: Profit Connect Has All The Signs Of A Ponzi Scheme
I wanted to believe that Profit Connect is a legit opportunity. Unfortunately, I can’t. I’ve seen many scams hide under the pretext of technologies, and how it can bring guaranteed returns to investors.
Profit Connect may seem legit on its website, and it attempts to add credibility by citing leading banks.
However, the fact that Profit Connect offers a guaranteed return is a sticking point. The only way it could do that is to use the deposit of new investors to pay off its existing affiliates. That’s what Ponzi is all about.
If I were you, I’ll think twice before depositing any cash with Profit Connect. It’s not worth the risk considering the rather average ROI. It’s something achievable with legit, copy-trading.
How To Make Money Online Without Getting Scammed?
Don’t fall for anything that’s ‘guaranteed’ and ‘quick’.
Building online income streams take time. I’m earning online full-time through affiliate marketing, freelancing, and copy trading.
It takes effort to acquire the skills, patience, and persistency to be successful. Here’s where I’ve picked up affiliate marketing skills that allow me to build passive income streams in different niches.
Hey, it’s Kenny here. I’m a single dad, freelance writer, an affiliate marketer. I have been making a living online since 2016, after quitting a 10-years engineering profession. When I’m not on the laptop, I’ll be in the kitchen experimenting with new cuisines.