Social Trade Biz is an India based Social Network Exchange company from Noida which emerged a few months back and advertised to the people to make money online easily without any efforts. The company asked its users to sign up for free and pay them Rs.5,750 to Rs.57,500 depending upon different plans which promised to deliver different ROI. After few online complaints about Social Trade Biz, Utter Pradesh Police eyed on this issue and found that company is scamming people in the name of the business and arrested Social Trade Biz owners and directors.
Social Trade Biz promised its users to get good Return Investment for their money and paid to few members to look like a legit company and asked people to refer and earn even more. Referral is nothing but the member of Social Trade Biz should ask his friends and family to sign up for Social Trade Biz under his link to get some commissions. In this article, we have explained complete details about What is Social Trade Biz, How it works, How they scammed people in the name of Social Media Exchange. Please do share this with your friends and help them not to become prey for such online scams.
What is Social Trade Biz?
Social Trade Biz is a Social Media Exchange Portal which pays people for their random social activities like Facebook Page likes, Visiting websites, Clicking on Ads, etc. SocialTrade.Biz company was established by Anubhav Mittal, a Software Engineer and Payoneer Entrepreneur built that portal under the name of Ablaze Info Solutions, Private Limited, which is ISO 2008 certified company. Click here to check the Social Trade Biz official website.
This same company owns many other business websites like intmaart.com, w3.com, etc with the similar concept of getting money from people in the name of various business via online.
How does Social Trade Biz work?
The Social Trade Biz asks people to Signup to their website with our Name, Email ID, Mobile Number and PAN Card Details. Once the account is created, they will ask us to select on which Social Trade Biz plan we would like to invest, we need to select a plan. After selecting a plan, they ask us to buy a package by sending money to their Social Trade Biz Bank account by DD, IMPS or NEFT in order to start making money.
After sending Payment to their business bank account of Ablaze Info Solutions, they ask us to upload that payment receipt screenshot or number to get started with their business model.
Once account setup is done, users can login with their details and start doing Social Media Activities such as Liking Facebook Pages, posts, visiting websites, etc. Depending upon the signup package, people gets the amount of task. The concept os Social Trade is simple, more social activities = more money. But Social Trade Biz failed to keep its promise as they stopped sending money to the clients. Read more to know about Social Trade Biz reviews, current news & updates.
Social Trade Biz Review
Initially, Social Trade Biz company did give money to its people for doing Social activities to make up themselves and show its users that they were legit. The reason for giving initial payment is, more people will join only when already joined people show their income proof to the public and on other online portals. Social Trade Biz use these income proof screenshots from the users to market their business and show themselves as legit in Social Media business market to get more paying clients.
On the other hand, people stopped receiving money after a certain period and they were asked to add referral members in order to receive their money. Some people filed a police case against Social Trade company and Police started monitoring the activities of this online company and people who have already joined this company started posting negative reviews about the company via different online portals like Quora, Facebook, Twitter. When hot discussions were going on the Social Networks about SocialTrade Biz, whether they pay or not, UP police caught them scamming and 3 of them from the company got arrested yesterday.
Here are some negative reviews and news about Social Trade Biz scams which are true,
Social Trade Biz Latest News Updates
Three people were arrested yesterday from SocialTrade Biz for scamming people in the name of Social Media Exchange. All the other companies of Social Trade Biz are under the radar to find more about their business scams.
This is the biggest Online fraud in India, Social Trade Biz scammed more than 7 Lakh people and investigations are going on with UP Police. They scammed Rs.3,500 Crores in a year and UP Task Force found transactions of Rs.500 crores and seized their bank account today. It is the result of the primary investigation and more shocking news about Social Trade biz will be revealed on during the next level investigations.
What to do if you are a Victim of Social Trade Biz Scam?
If you are a victim who fallen for socialtrade.biz scam, we are sorry for you. The best thing to do is, file a police complaint against the fraudulent company about how they scammed you and how much money you have invested in them. We hope people can get their money back to their bank account after the investigation, but it will take some time.
Lessons to Learn from Social Trade Biz Scam
A very big lesson to be learned from this Social Trade issue is, there is no easy or free money available anywhere on the Internet. If someone asks you to join in any companies like SocialTrade.Biz or similar MLM companies, try to educate them they are scams.
Initially, the company may pay you few bucks, but you cannot take your complete payment from them. It is not difficult for them to pay Rs.5,000 for 3 months from your Rs.50,000 investment. Think that they profited remaining Rs.35,000, will not pay you after 3 months and will shut down their company or run away with your hard earned money.
We request you to kindly stay away from such online scam companies in the name of Socia Trade Biz and other similar concepts. Also, don’t forget to educate your friends about this online scams and share this article if you care.