Welcome to my Coddix Traders Review
There has been a buzz about this company, so I decided to look and see what it was all about.
Chances are someone approached you with the Coddix Traders business opportunity, and you landed here to learn whether it’s legit or a scam.
This Coddix Traders review will analyze how it works, all its earning methods, whether it’s worth joining, and its legitimacy.
Please note, I am not a member or an affiliate of Coddix Traders. This review is based on research and information available online in the public domain.
Any recommendations and conclusions are only opinions and may not apply to all persons or situations.
How it works
Coddix Traders, found at coddixtraders.com, works in an Investment based model where users earn interest on the amount invested for a certain period. It’s available in Kenya, Tanzania, and Uganda.
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Apart from the investments, Coddix Traders have incorporated a referral program where members get commission per person referred directly or indirectly.
Coddix Traders has an app which its users can download and install from Play Store or Appstore. It seems the app hasn’t been released yet.
Despite all its hype, the platform has its red flags, which we will analyze in this review. One of the most notable ones is the interest model, which has similarities with HYIPs.
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Let’s analyze each of Coddix Traders features;
Coddix Traders Investment program is available to all its users. Its interest-based, where all the investors are expected to get an ROI after a few days.
The interest rates are 30% after four days which is available to all users, even those who don’t own a premium account. On the other hand, premium members have another investment plan to earn 50% interest after six days.
The minimum investment is Ksh 1,500, while the maximum is Ksh 10,000. If you invested the maximum amount, you would turn a Ksh 3,000 profit after 4 days or Ksh 5,000 after six days. As for Tanzanians, the minimum and maximum investments are Tsh 32,000 and Tsh 213,280, respectively, with similar interests.
They have scheduled invested sessions daily during which you can make your investment
Suppose you have invested before in any company. In that case, whether it’s forex trading, CFDs investment, or any other financial investment, you clearly understand that the Coddix investment program raises a red flag.
Referrals are important to many Ponzi Schemes since it’s usually the backbone of generating revenue. Almost all other platforms, including Kram Investments, cash24h, live auction, have used referral programs to get more people to join their platforms.
Coddix Traders also has a referral program where members earn bonuses whenever they invite new members and pay the registration fee. There are only three levels where users earn a commission from their downlines.
In the first level, Coddix traders’ members earn commission from their direct referrals (people who join using your affiliate link). The referral bonus is Kes 800 (equivalent to Tsh 17,062 and Ush 25,992) per direct referral.
Level 2 involves downlines who are invited to join Coddix traders by your direct referrals. The commission is Ksh 200 per referral, which is equivalent to Tsh 4,265 and UGX 6,498.
In level 3, you’ll earn whenever your active downlines in level 2 refer people to Coddix traders. In Kenya, Tanzania, and Uganda, the commission is Kes 100, Tsh 2,132, and UGX 3,249, respectively.
Coddix Traders has a free registration, although you’ll still need to invest money to earn with the platform. If you’re interested in their referral program, you must activate your account with Ksh 1,200 (UGX 39,000 or Tsh 27,000). They still have an investment referral program where members earn commission on what their downlines invest.
Legit or Scam
Although Coddix Traders has some interesting features that some of its members can use to make money online, we do not recommend Coddix Traders since it has various red flags that make us believe it is a scam. The cons of the platform outdo the pros hence the conclusion.
- Coddix Traders investment program can be attributed to being a High-Yield Investment Program (HYIP). According to Investopedia, HYIP is a fraudulent investment scheme that promises to give extraordinarily high ROI. The Coddix yields of 30% after such a short period aren’t feasible.
- There is no clear description on Coddix Traders on how they generate their revenue. What financial instruments are they investing using to make a profit and pay the interests to their members? What are the terms and conditions? These are some of the features that should be available on the website before anyone signs up.
- The interest rates are constant, which raises the question of which business Coddix traders conducted where they can turn a profit only to pay their members. It’s normal for any investment company to make losses, but Coddix seems to be ‘good at making profit’ only.
- Coddix Traders has no products they’re selling. The investment program is the closest way you can earn as a Coddix user. The referral program is in a pyramidal structure, ideally making it a platform where old members are paid with new users’ fees.
- There are no signs that Coddix Traders is approved by the Capital Markets Authority (CMA). Without its approval, it isn’t easy to trust the website when finances are involved. CMA is a trusted authority in Kenya, and it monitors many financial-related companies, including online trading such as Dyer & Blair and CIC Money Market Fund.
- It is not a trusted work-from-home job that can earn you passive income. Most students looking for online jobs in Kenya for students fall into the trap of platforms like Coddix Traders.
Final Thoughts on Coddix Traders
Investing in most companies online has always been a gamble. Even when you’re convinced that a certain platform is legitimate, it might turn out to be a Ponzi scheme. You can learn how to identify such scam sites by reading this post.
As stated earlier, we don’t recommend Coddix traders to our readers. However, if you insist on joining, you may try it out, but investing what you can afford to lose is crucial to be on the safe side.
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