Umo Finance Account Review – How To Withdraw Money From Umo Finance: Umo Finance is or was an MLM company that offers the ability to earn money from home with their promised ROI and the MLM compensation plan structure. Apparently, they are a trading company that trades in some type of trading that they do that I can’t find out about right now since the website is down or shut down for good?
One of the things that I like to see when I review all MLM companies is who the owner is. This gives me the ability to learn about the experience and the background that the owner has. The owner is Nicklas Larson which is a complete mystery because I could not find ANY information about him online anywhere. Not a good sign, but even a bigger sign that this is not a good company is the company website.
Products From Umo Finance
In this section of my review, I am going to share information about the products that Umo Finance offers. Yeah, just like many of the MLM companies that get shut down, Umo Finance does not offer any retail products or services. This is a big red flag when a company offers an MLM compensation plan structure.
Many governments label these types of MLM companies that don’t offer retail products a Ponzi Scheme. That is all of the limited information that I have about the products that Umo Finance offers, let’s continue.
How Does The Umo Finance Compensation Plan Work?
In this section of my review, I am going to cover the information about how the compensation plan works and how you can make money with the Umo Finance opportunity. There are 2 ways that you were able to make money with the Umo Finance opportunity, and they were through:
1. The promised ROI
2. Referral Marketing (MLM)
The way that Umo Finance offers its promised ROI commissions is when you invest $50 or more. When you make this minimum amount of investment, the company was promising some type of ROI.
ROI Plans And Percentages
You were able to pick your return package once you made your investment. Here are the plans:
1. 1.4% Plan – On this plan, you can earn 2.8% for 16 – 46 working days.
2. 2.7% Plan – On this plan, you can earn 3.1% for 75 working days.
3. 1.9% Plan – On this plan, you can earn 3.2% for 190-260 working days.
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Referral Commissions (MLM)
In this section, I am going to breakdown how the MLM compensation plan works and how you can make money with it. The main aspect to make money with any MLM compensation plan is to recruit people into the company through your unique affiliate link that you get when you join.
The MLM commissions are paid and tracked using the unilevel compensation plan structure. For those that are not familiar with hot the unilevel works, here is a quick breakdown:
1. The first level of your unilevel comp plan will only have your personally recruited member on it.
2. The second level of your unilevel pay plan will only have team members that your level 1 members personally recruited on it.
3. The third level of your unilevel pay plan will only have team members that your level 2 members personally recruited on it.
There are a total of 4 levels that you can earn on with the Umo Finance unilevel. Here is a breakdown of what the company pays you:
Level 1 – This level pays 4% from every investment on this level.
Level 2 and 3 – These levels pay 2% from every investment on this level.
Level 4 – This level pays 1% from every investment on this level.
There “used to be” qualification that you can meet to open up more levels of the unilevel but since the website is down or got shut down, I can’t find it. Well, that is all of the information that I have about how the compensation plan works and how you can make money with the Umo Finance opportunity.
Is Umo Finance BBB Accredited?
No, Umo Finance is not accredited with the BBB and now that it is shut down (is what the reports say) they will never be accredited with the BBB.
What’s The Cost To Join Umo Finance?
The minimum cost used to be $50, but now it seems that you can’t even join that company because it no longer running. With that said, let’s get to the real question.
Is Umo Finance A Scam Or Legitimate Opportunity?
Since the company website was shut down, it was probably due to all of the compliance issues. If that was the case, then yes, it was probably a scam.
In the final section of my review, I am going to share my thoughts and recommendations about the Umo Finance opportunity as a whole. I have taken the time to research and review the information about the company, the products, and the compensation plan.
I have also shared my thoughts on why I think this opportunity was a scam above. At this point, you should know what Umo FInance is, how it works, what they offer, and how you (used to be able to) make money with them.
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Do I Recommend Joining Umo Finance?
Look, the company website is down or has forcibly been shut down, I’ve seen reports that the company collapsed and the owners ran, so no way I do not recommend joining. With that said, I hope you enjoyed my Umo Finance review.
Too bad I was able to do this review when they first started, but I just wanted to get it out of the way. If you found my review helpful, make sure to click on the social share buttons below to share it with others so that people can learn how Umo Finance (used to) work and why it got closed down.