So far as I do know Iqonic doesn’t have a web site. Or if it does, particulars usually are not being disclosed to most people.
A BehindMLM reader famous Eaconomy had disabled its web site earlier this month.
As at time of publication, April 14th, 2025, that is still the case:
This prompted me to take a more in-depth look, revealing Eaconomy promoters touting an Iqonic reboot circa April 1st;
Eaconomy social media accounts had been was deserted January 2025. Eaconomy proprietor Hasan Mahmoud’s final FaceBook put up is dated November twenty eighth, 2024.
Within the put up Mahmoud shills some crypto coin:
So far as I can inform, there doesn’t look like an official Iqonic reboot announcement.
Nonetheless, Iqonic advertising and marketing confirms Mahmoud continues to be operating the corporate:
- Hassan Mahmaoud [sic] – founder and CEO Iqonic
- Edwin Hayes – President Iqonic
- Jarrod Wilkins – VP of Enterprise Improvement
Mahmoud made a reputation for himself selling Enagic water filters. His first look on BehindMLM was in 2019, as co-owner of SilverStar Dwell.
SilverStarLive was an unregistered MLM buying and selling scheme. A CFTC investigation into SilverStarLive discovered the corporate and Mahmoud
acted as commodity buying and selling advisors (“CTAs”) with out being registered with the Fee as such, by exercising discretionary buying and selling authority over the foreign currency trading accounts of U.S. clients who weren’t eligible contract members (“ECPs”).
Mahmoud settled the CFTC’s fraud allegations in 2019 for $75,000.
After SilverStarLive got here Eaconomy, one other buying and selling themed MLM firm. Eaconomy went on to break down a number of instances. A 3rd and ultimate reboot was launched in 2021.
Since launch, Eaconomy has obtained regulatory fraud warnings from Canada, Norway, New Zealand, Slovakia, the UK and Czechia.
Within the lead as much as Iqonic’s launch, Mahmoud sued My Day by day Alternative and proprietor Josh Zwagil again in January.
Zwagil retaliated by teaming up with Candace Ross, Mahmoud’s ex-wife and Eaconomy co-founder, to accuse Mahmoud of fraud.
Each lawsuits had been dismissed on February twenty fourth, suggesting a settlement was reached. No particulars have been made public.
Edwin Haynes popped up on BehindMLM’s radar in 2022, as founder and CEO of Axxces.
Axxcess was an MLM buying and selling scheme constructed round crypto buzzwords and automatic “social buying and selling”.
At the moment Axxces’s web site area is parked. The corporate’s social media accounts had been deserted in February 2024.
Jarrod Wilkins is an Eaconomy government carryover:
Contemplating Eaconomy possession was a competition level in each January 2025 Eaconomy lawsuits, it stays unclear whether or not Candace Ross and Josh Zwagil have an possession stake in Iqonic.
I used to be in a position to tie Zwagil (proper) on to Iqonic by means of the corporate’s apps. Iqonic uploaded its app to Google Play and Apple Retailer earlier this month.
Iqonic’s app developer is MLM Protec LLC, a Delaware shell firm owned by Zwagil.
Zwagil isn’t disclosed because the proprietor of MLM Protec LLC on its web site. As a substitute, considerably deceptively, Zwagil options as a buyer testimonial:
Whether or not Zwagil has an possession stake in Iqonic or simply owns the corporate growing its app is unclear. It’s extraordinarily possible regardless of the case, the small print are a part of the settlement reached within the January 2025 lawsuits.
Presumably Iqonic additionally has a web site however, as at time of publication, this seems to be hidden from customers.
Learn on for a full assessment of Iqonic’s MLM alternative.
Iqonic’s Merchandise
Iqonic markets subscriptions to varied buying and selling companies:
- Manara – “AI scanner” that gives buying and selling indicators
- IQverse – crypto buying and selling
- Solexx – foreign exchange schooling
- Swipe to Commerce – buying and selling indicators app
- IQ Academy – buying and selling video coaching
- Inventory Choices – inventory choices coaching
Entry to the above Iqonic companies is offered throughout 4 price-points:
- Elite Pack – $149.99 after which $99.99 a month (IQ Academy, Supervisor, Solexx, Inventory Choices)
- IQverse Pack – $149.99 after which $119.99 a month (IQverse)
- IQverse Professional Pack – $199.99 after which $150 a month (IQverse, IQ Academy, Inventory Choices, Manara)
- Elite Professional – $199.99 after which $149.99 a month or $1499 yearly (IQ Academy, Manara, Solexx, Inventory Choices, Swipe to Commerce, Ploutos)
Iqonic’s Compensation Plan
Iqonic associates enroll and pay charges. Commissions are paid after they recruit others who do the identical.
Iqonic Affiliate Ranks
There are 13 affiliate ranks inside Iqonic’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Apprentice – recruit 4 associates, positioned two on each side of the binary group
- Influencer 500 – keep 4 personally recruited associates and generate a downline of twelve associates
- Influencer 1000 – keep 4 personally recruited associates and generate a downline of thirty-six associates
- Influencer 1500 – keep 4 personally recruited associates and generate a downline of sixty associates
- Prodigy 3K – keep 4 personally recruited associates and generate a downline of 100 and twenty associates
- Prodigy 6K – recruit six associates and generate a downline of 300 associates
- Icon 12 – keep six personally recruited associates and generate a downline of 600 associates
- Icon 24 – recruit eight associates and generate a downline of 1 thousand 200 associates
- Icon 60 – recruit ten associates and generate a downline of three thousand associates
- Icon 120 – recruit twelve associates and generate a downline of six thousand associates
- Icon 240 – recruit fourteen associates and generate a downline of twelve thousand associates
- Icon 580 – recruit sixteen associates and generate a downline of twenty-four thousand associates
- Legend – recruit eighteen associates and generate a downline of forty-eight thousand associates
Notice that recruited associates should energetic with month-to-month charges to rely in direction of rank qualification.
Downline associates have to be cut up equally throughout two sides of a binary group.
A binary compensation construction locations an affiliate on the high of a binary group, cut up into two sides (left and proper):
The primary degree of the binary group homes two positions. The second degree of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary group are stuffed through direct and oblique recruitment of associates. Notice there is no such thing as a restrict to how deep a binary group can develop.
Recruitment Commissions
Iqonic pays a fee on private recruitment efforts:
- recruit an Elite Pack tier affiliate and obtain $30
- recruit an IQverse Pack tier affiliate and obtain $30
- recruit an IQverse Professional Pack tier affiliate and obtain $50
- recruit an Elite Professional tier affiliate and obtain $50
- recruit an Elite Professional Annual tier affiliate and obtain $100
Residual Commissions
Iqonic pays residual commissions based mostly on rank:
- Apprentices earn $25 every week
- Influencer 500s earn $125 every week
- Influencer 1000s earn $250 every week
- Influencer 1500s earn $375 every week
- Prodigy 3Ks earn $750 every week
- Prodigy 6Ks earn $1500 every week
- Icon 12s earn $3000 every week
- Icon 24s earn $6000 every week
- Icon 60s earn $15,000 every week
- Icon 120s earn $30,000 every week
- Icon 240s earn $60,000 every week
- Icon 580s earn $145,000 every week
- Legends earn $290,000 every week
Becoming a member of Iqonic
Iqonic affiliate membership is $29 after which $15 a month.
Iqonic Conclusion
Iqonic is extra of the identical present in Eaconomy, with a query mark on automated revenue.
Taken at face worth, I didn’t see something resembling automated buying and selling in Iqonic’s advertising and marketing supplies. This raises the query of why Iqonic’s promoters are advertising and marketing automated buying and selling as a part of the chance.
Iqonic and Hassan Mahmoud are based mostly out of California within the US. Neither are registered with the SEC.
If Iqonic is providing automated buying and selling on any degree, it could be doing so in violation of US securities legislation.
“Swipe to commerce” does provide some degree of automation, nevertheless one can nonetheless argue that handbook consent is offered by the consumer. It’s successfully no totally different to a dealer receiving indicators after which utilizing these indicators to conduct their very own trades.
If the trades had been executed routinely, that’d be a special story. Additionally in the event you’re questioning what differentiates “swipe to commerce” out of your typical “process rip-off”, I’m operating on the belief that an precise commerce takes place after swiping.
The place Iqonic definitively run afoul of US rules is the Commodities Act and FTC Act.
Iqonic provides buying and selling coaching, recommendation and indicators pertaining to varied commodities:
This requires registration with the CFTC, by means of the Nationwide Futures Affiliation (NFA). Particularly, Iqonic needs to be registered as a Commodity Buying and selling Advisor – which the NFA defines as;
a person or group that, for compensation or revenue, advises others, instantly or not directly, as to the worth of or the advisability of shopping for or promoting futures contracts, commodity choices, retail off-exchange foreign exchange contracts or swaps.
Advising others on commodities buying and selling in change for compensation (charges) is Iqonic’s main enterprise mannequin.
A search of the NFA’s BASIC database reveals neither Iqonic or proprietor Hassan Mahmoud are registered with the CFTC.
There’s additionally the likelihood the CFTC may see Iqonic’s “swipe to commerce” scheme as being too fingers off. That is from the CFTC’s SilverStarLive enforcement order towards Mahmoud;
The order finds that from at the very least July 2018 to March 2019, on behalf of SSL and, later, SSLS, Ross-Mahmoud and Mahmoud solicited clients to open discretionary buying and selling accounts (or supervised different individuals who did so), and provided to commerce in clients’ retail foreign exchange accounts by means of a “foreign exchange autotrader.”
The autotrader used an algorithm to commerce a number of foreign money pairs, routinely getting into and exiting trades with out buyer intervention.
The autotrader additionally purportedly routinely hedged shedding trades to mitigate losses. By advantage of the autotrader, SSL and SSLS exercised discretionary buying and selling authority over retail clients’ foreign exchange accounts.
Primarily based on this, the CFTC concluded SilverStarLive and Mahmoud violated the Commodities Act.
In Iqonic’s “swipe to commerce”, the act of swiping grants Iqonic “discretionary buying and selling authority over retail clients’ foreign exchange accounts”. The client doesn’t really arrange the commerce.
This is also the “autotrade” Iqonic promoters tout of their advertising and marketing.
The FTC Act comes into play if the vast majority of Iqonic service subscribers are additionally associates. If Iqonic has extra affiliate subscribers over retail subscribers, it’s working as a pyramid scheme.
Traditionally Eaconomy has didn’t retain a retail buyer subscriber base – confer with Eaconomy’s a number of collapses.
The excellent news is establishing whether or not you’re about to hitch an MLM pyramid scheme is straightforward.
Ask your potential Iqonic upline what number of of their personally referred service subscribers are additionally paying affiliate charges. If it’s over 50% (give or take a number of share factors), that affiliate is operating their Iqonic enterprise as a pyramid scheme.
Iqonic for its half does nothing to discourage pyramid recruitment. Iqonic might require a retail subscriber threshold throughout its ranks however doesn’t.
Given Mahmoud’s historical past with the CFTC and a number of Eaconomy regulatory fraud warnings over time, a observe up from US authorities appears lengthy overdue.
Within the meantime one can solely surprise, what with a lot of Iqonic carrying over from Eaconomy, if the indicators and commerce concepts are worthwhile over the long-term – why did Eaconomy collapse?