Name: Global Wealth Trade
Price: From $169 to $3,069
Rank: 27/100 – Not Recommended.
What Is It?
Global Wealth Trade is an MLM network marketing opportunity founded early on in 2005 out of Ottawa, Canada. The company offers your own Virtual Design Mall or VDM and offers a variety of packages to help you get started. The company actually started out selling their fashion designer wear including various jewelry, watches, and accessories.
Their main name brands include:
- Feri Mosh
What’s most interesting about the Global Wealth Trade is not anyone can simply go onto the website and start shopping. You must have been referred by one of the GWT’s Luxury Consultants. There are both pro’s and con’s to this, which I will mention in this review.
Price Of Getting Started
Global Wealth Trade is a high-end luxury company. While this may be all and well on the outside, it can make their products feel like a harder sell. As a result, in order to sell GWT’s products, you’ll need to find the right customer base.
More importantly, is the price of getting started isn’t cheap! It all starts with the Retailer VDM Package at $169.
As a Retailer, you get 50% to 60% of the profits and an electronic welcome package. There’s also something called a Monthly PV. This is also known in the world of MLM as your Product Volume and is a fixed monthly cost that the company will automatically bill you for. This is what I assume to be a monthly fee associated with the new business.
You also get a debit MasterCard and a position into their binary program where you can receive up to $50 every time your position cycles, which can take a while.
The next packages include Diamond, Gold, Plangsten, and Silver, where the getting started packages cost you a considerably more amount of money, but where other benefits come in. For example, they give you your own Inventory Account. They send you a welcoming package to your place of residence with materials you can hand out to potential customers. You can even get more of the retail profit on what sells. On the other hand, you will also be paying a much higher Monthly Volume Fee.
So while the costs in getting started are a lot more expensive ($3,099 in the case of a Diamond Membership), the residual potential over the long-term can be higher as a result of making higher commissions. It’s really important you weigh out the pro’s and con’s, while having an idea of your own experience.
I should also note here that I don’t like how they created so many different packages, pricing them all so differently. It’s very skeptical to me to see how they price one package as low as $160 and another at over $3,000. I find no reason to have more than one “virtual mall.” Also a little bothering to see how you have to pay that much just to become eligible for 90-100% commissions.. Almost like the GWT opportunity really might not care about helping you succeed!
How It Works?
Time to get down to see how this opportunity really works and if it works at all. So far we have a good understanding of what’s being sold at Global Wealth Trade. It’s not as much of a necessity as it is a want. These are high end products and goods for consumers who have plenty of money to spend. Some of their sunglasses cost an upwards of $1,000’s of dollars.
Also, as stated, consumers can’t just log on to the website and buy what they want. They have to go through the retailer consultant and I believe this was made so that the opportunity would actually work out for its members. But there are pro’s and con’s to this.
For one, it’s not just you who is representing Global Wealth Trade. But there could be thousands of other members trying to sell the same products. Meaning, there is a lot of competition. On the other hand, there also might be a lot of room for opportunity if you know how to do it right.
While having your own website can make things a lot easier, I found that the site was still a bit bland. What I mean is, there is no content on there and each website is simply a duplicate of every other site with different promoted products. In addition, they are simply listed one after another on Google.
Next, I did a search for some of the products and what I found was a good majority of these products are actually listed on social media. I found that many representatives actually opened up a Facebook Group or Page and Pinterest & Instagram accounts to get their companies found. It’s really hard to say how effective this actually is. Most people browsing Pinterest don’t usually just log into a random online mall and buy the first thing they see. It’s not like websites where people promote Amazon products and if people click the link, they get a commission. You have to actually walk them through the process and you have to show them the process of registering and entering in your username to make a commission. This is probably the biggest disadvantage I found with Global Wealth Trade.
On the other hand, you might like to sell high end designer items. Maybe you have a large customer base already and people you can contact who want to join a new opportunity. In that case, becoming a Global Wealth Trade might work out for you. But, as stated on the website, there are no guarantees. In addition, besides getting a welcome package and website to begin promoting your designer items, there isn’t a whole lot of training.
This is important for any online opportunity to become a success. Especially seeing how a lot of this deals with being able to get your website and name out there, meeting and talking with new potential customers, and actually being able to build a team who can sell!
Global Wealth Trade Overview
Is Global Wealth Trade a scam? I’ll leave that for you to decide. If you feel like paying $169 and a $35 monthly fee is a good deal for your own “virtual mall,” then maybe its not. But you should realize that they make this virtual mall sound so much fancier than it really is. What you’re most possibly going to end up with is another duplicate GWT website listed in the back of Google’s search engine, where no one will see it. It’ll also be nothing more than a bunch of listed products on there, which in my opinion isn’t very promising for a legitimate online marketing opportunity. But to each his own, as they say.
If you want more than just a simple website with products and a business that actually gets traffic where people are interested in buying these products, you should check out my #1 review here. The process is a whole lot simpler and not because there is less work involved, but because you get actually get the training, help, and support you need. Rather than just giving you a website and telling you to go sell stuff, you get an entire community to show you the true ropes to online success!
Thanks for reading this Global Wealth Trade Scam Review. If you have any comments, questions, or concerns feel free to leave them below!