According to CBC (Canadian Broadcasting Corporation) news, Banners Brokers had been dismantled by the Toronto police. And the people who allegedly ran the Toronto-based pyramid scheme had been arrested. So, why am I still writing this article – Banners Broker Review – Scam or Legit?
Well, one reason is that using my SEO (Search Engine Optimization) keyword research skill, I found that there are still people searching the keywords – Banners Broker. This means there are still people searching the Internet for information about Banners Broker.
Why are people still searching for information about this company? My guess is that they have recently heard about Banners Broker. Maybe there are still people out there promoting this?
Another reason why I am writing this review is for education purpose. For my students, mentees and even you, my dear readers. In case you too have been approached by someone promoting Brokers Banner to you.
Also, it is educational because in this review, I will share with you the signs to look out for when assessing an opportunity. The information to look out for that will confirm for you whether a program or product is legit or a scam.
Banners Broker Review – Scam or Legit? – The Overview, Rankings, Pros & Cons
Name: Banners Broker
Owners: Founded by Chris Smith and Kul Josun
Website URL: www. banners broker. com (site no longer exists, but you can see in video within review what it originally looks like)
Price: Many packages at different prices (watch video to see the pricing structure)
Banners Broker Review – Scam or Legit?
What are the Pros of Banners Broker?
What are the Cons of Banners Broker?
- Structured as Multi Level Marketing
- Toronto police has dismantled company
- People who ran the business arrested
- Thousands of victims lost hundreds or thousands of dollars each
- About $93 million in total taken
Who Owns Banners Broker?
Banners Broker was founded by Chris Smith and Kul Josun in November 2010.
What is Banners Broker?
Banners Broker was an Internet marketing company. It was in the business of selling banner ads on the Internet. The ads were supposedly placed on high traffic websites. And the impressions gained from traffic was supposed to generate advertising revenue.
BUT, at the same time, the company was structured as a Multi Level Marketing program.
RED FLAG! – Multi Level Marketing!
This is a big red flag. Already I do not appreciate multi level marketing. You can read more about my bad experience with multi level marketing, as well as research on findings by studies.
What Do I Get With Banners Broker?
You have to option to join as an advertiser, a publisher or an advertiser-publisher combo. Here is a video with more details explaining what Banners Broker is all about.
Basically, an advertiser you can place banner ads on other sites. The idea is for businesses to advertise and get traffic. As such, get leads that eventually can lead to sales.
When you sign up as a publisher, you will need to have a website. And your website must already have at least 1,000 visitors a day.
The third option is to sign up as an advertiser-publisher combo. This means you can advertise your products or services. At the same time, you can advertise on all their publishing sites.
RED FLAG! – No Real Product
Philip H. Gennis is a lawyer and Licensed Insovency Trustee with over 40 years of financial advisory experience. He was assigned the Banners Broker case. In a report by Insolvency Insider, he made the following findings:
“In reality, Banners Broker did not track website traffic, nor did it have access to high-volume websites – It did not have the infrastructure to track an affiliate’s success or lack thereof in investing in online advertising – Banners Broker did not earn revenue, and relied instead on recruitment and investment enticement for cash flow”
Did you catch that? I repeat it here. He reported that Banners Broker “relied instead on recruitment and investment enticement for cash flow”.
RED FLAG! – Multi Level Marketing!
I like to emphasize this point again – they make money from recruitment. That is the abyss that multi level marketing schemes get you into.
You end up doing recruiting people to join their scheme. Instead of building and growing your own online business. You have worked and grown another person’s business already. Why do it for another company?
And this recruitment thing. Many people have lost friends and family over this.
What Are The Packages & Prices For Banners Broker?
Do you really want to know? If you are curious, watch the video above.
For all my students and mentees, I do recommend watching the video – ONLY to learn what to identify, so that in future you can recognize a scam. Or at least a multi level marketing or Ponzi scheme. Once you do, run far away.
How to Join Banners Broker?
I do not recommend joining. But just for your info, you need to fill in details in the form, such as first name, last name, email address, password, etc.
RED FLAG! – You Need a Sponsor
This is a big tell tale sign that it is a multi level marketing scheme. I have joined many programs, and never needed to enter any sponsor info. The very fact that they need a sponsor info from you, is a BIG red flag, and a sign that this is multi level marketing scheme.
Can I Make Money from Banners Broker?
The Canadian Broadcasting news report mentioned at the start of this article reported that thousands of victims lost hundreds or thousands of dollars each.
So, no. You cannot make money from Banners Broker.
#MLM #Scam #Business #Entrepreneur
Banners Broker Review – Scam or Legit? – Passive Online Revenue Final Word
Here is a video by the Toronto police about this case:
There are so many scams these days. And Banners Broker is definitely one of them. I remember my encounters with a few of these scams. Fortunately, I escaped unscathed, and no loss of my hard earned money.
My dear students, mentees and readers. One of the signs to look out for is to see if a business actually has a product. And is it a good product? Is there a demand? Plus, many other questions and considerations.
Then do check their records. Make sure they are not profitable only because of investors pumping in cash.
I have seen too many companies fold up because of investors too willing to give their money. And not enough done to make the business sucessful and earning a decent profit. Can we say WeWork, anyone?
And I would advise to keep away from multi level marketing schemes. You will end up doing recruitment more than actually building and growing a business.
With a multi level marketing company, you are helping them to earn millions, and growing their company. You should be starting your own online business, and growing it to make millions for you.
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If you have ANY questions about this review – Banners Broker Review – Scam or Legit?, ANY at all, please submit your questions as comments below. I will be happy to help out.
Thank you for reading this.
Best Wishes to All!