In this review I will not beat around the bush and reveal to you exactly what I think without holding back. USI Tech claims to offer a service that algorithmically trades users’ money in cryptocurrency and foreign exchange markets.
Their website asserts that they offer investors remarkable returns – up to 150% per year – by using unique algorithms that anticipate market volatility and prevent major losses.
However, the company displays many clear red flags: it explains neither its underlying technology nor the features of its user platform, it doesn’t mention any of the tools commonly required for cryptocurrency trading such as wallets or exchanges, and the company provides suspiciously little information about itself.
The company also seems hesitant to disclose information about its Sales Partner program; its main site mentions very briefly that customers have the opportunity to have earn money from commissions by recruiting new users, but its Terms and Conditions page reveals that this is perhaps the most important facet of the business.
Strangest of all, searching for “USI Tech” reveals that the website has been duplicated repeatedly, and is hosted under dozens of slightly different URLs; this article discusses the content on usitech-int.com. The same search also reveals many articles warning that USI Tech is a scam; let’s examine the facts objectively.
About the Company
USI Tech provides virtually no information about itself; its website mentions that the company is based in Dubai, but its address is a P.O. box. It does not identify any of its founders or development team, although it mentions that they have “over 20 years of experience.”
The company’s website also claims that it has a consistent track record of impressive returns and has developed “more than 100 software versions that have been successful in long-term tests”; however, a search for the site’s Alexa statistics reveals that the domain was registered in November of 2017.
About the USI Tech Service
The FAQ section of USI Tech’s website offers some details about the service, but it ultimately creates more questions than it answers.
The page states that all deposits and withdrawals are made using Bitcoin, but the site never explains how the currency is stored or traded; the company’s failure to mention wallets or exchange services is especially strange considering that it claims to be heavily involved in foreign exchange trading, meaning quick conversions between digital and fiat currencies would thus be integral to its work.
The FAQ section also notes that participants must be at least 18 years old and have “full legal capacity,” but it otherwise mentions no know-your-customer or anti-money laundering provisions; these are increasingly important for cryptocurrency exchanges, and companies that neglect to enforce them could face serious legal challenges in certain jurisdictions.
Furthermore, several websites reviewing USI Tech claim that the site no longer accepts American and Canadian users, but the site itself makes no mention of this.
The website’s terms and conditions page, accessible through a small link at the bottom of the main page labeled “AGBs,” provides the greatest insight into the nature of the service. The company’s Sales Partnership program is mentioned only in passing on its main webpage, but this page reveals that it is in fact the cornerstone of their business model.
Sales Partners are responsible for selling the company’s software products to users; they are considered private entrepreneurs, rather than employees of UTI Tech, and they can potentially face legal discipline for misrepresenting the company to potential customers.
Sales Partners are paid up to 35% commission on “12 referral levels.” The company refers to this as a “unique referral marketing plan,” but it is in fact remarkably similar to other network marketing or pyramid schemes.
The terms and conditions page also mentions in passing that the company is involved in Bitcoin mining. It is included just once, as the second clause of a sentence mentioning that they develop “high-end software-based products.”
In a website full of bizarre incongruities, this stands out as one of the strangest things; why mention it at all? Whether Bitcoin mining is a negligible sideline or a major component that USI Tech hopes to downplay, it makes little sense to include this information.
Is USI Really a Scam?
A search for “USI Tech Review” or “USI Tech Scam” will yield overwhelmingly negative results, and it’s clear why: the site embroils naive investors curious about cryptocurrencies and foreign exchange markets into a classic network marketing scheme, promising them handsome profits if they can recruit more friends to invest.
The site is obviously not detailed enough to attract serious investors, so it presents itself as having a low barrier to entry, requiring only 50 Euros to become involved. Several reviews suggest that the company offers no actual algorithmic trading software, and is a combination Ponzi and pyramid scheme; this cannot be confirmed, since if the company’s software is proprietary it has every right to not disclose how it works, but it does seem very likely.
There is certainly a role for algorithmic trading in today’s market, but investors should seek companies that are much more transparent about themselves, their sales practices, and their products; are diligent in their compliance with anti-money laundering regulations; and offer more realistic returns.