MyAdStory Review – Legit Or Scam?

MyAdStory ReviewHas someone approached you lately about joining MyAdStory?

This doesn’t surprise me – it’s been getting a lot of hype in the last couple of week, with people pitching it all the time.

First, let me make one thing clear – I am NOT in any way affiliated with MyAdStory.

I simply wanted to gather all the details here for you in my MyAdStory Review so you can make an informed decision.

Is MyAdStory truly a scam?

Does it really work like the marketing materials say it will?

Read on to find out in my Review of MyAdStory.

Let’s get going!

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What The Heck Is MyAdStory?

Having been registered on the 13th of October, 2015 the MyAdStory web domain (myadstory.com) continues to have its registration details set to private and there is no information on the website itself pertaining to the ownership of the business or who is responsible for running it.

There is, however, a closed Facebook group for the company, which has ten admins- one of whom (Luis Castillo) mentioned Mahmoud Cherif as MyAdStory’s owner and operator. This appears to correlate with other details of the company, for example Mahmoud Cherif lives in Canada, which is where the company’s twitter profile has set as its location.

Cherif has a track record of involvement in MLM schemes- including Visalus (a weight loss based MLM), GetEasy (a multi million dollar pyramid scheme), Global Mobile Network (which he himself describes as the best investment he ever made) and OwnMatrix (an MLM scheme feeder). He appears to have first become involved in such schemes during 2014, although MyAdStory is the first MLM where he has been in an executive position.

MyAdStory Scam

What Can You Tell Me About The MyAdStory Products?

There are no products available for affiliates to market, instead the opportunity for affiliates involves recruiting new affiliates to the scheme itself. Upon becoming a member, affiliates invest in ‘ad-packs’, which have varying rates of return available. Along with these, affiliates receive credits which can be cashed in for advertising space on the MyAdStory website.

What Can You Tell Me About The MyAdStory Compensation Plan?

Affiliates are required to invest in ‘ad-packs’, which offer varying ROI’s depending on the level chosen. The rate of ROI is linked to the level of investment by the affiliate:

  • Ad-Pack Plan1- Affiliate required to invest $1 in return for a $2 ROI
  • Ad-Pack Plan2- Affiliate required to invest $50 in return for a $62.50 ROI

Affiliates are then required to reinvest 50% of their Plan1 ROIs and 40% of their Plan2 ROIs back into further Ad-Pack Plans. They also have to click a certain number of adverts on the MyAdStory website per day in order to qualify for their ROIs.

Affiliates are also entitled to returns based upon their recruitment of new affiliate members. These commissions are calculated using a 3-level unlilevel structure.

MyAdStory Compensation Plan

This works by putting the initial affiliate in the top position of their own unilevel team, with each recruit that they personally recruit to the scheme being placed in a position directly beneath the initial affiliate.  This forms the first level. Each new recruit that these level 1 affiliates sign up will be placed in a position directly beneath them in their own team, which becomes level 2 for the original affiliate’s team.  The original affiliate’s level 3 is formed by the new recruits that the level 2 affiliates bring in. This, in theory, can continue to reach an infinite number of levels, but in this scheme affiliates are only entitled to commissions on the first 3 levels. These are worked out in the following way:

  • Level 1 affiliates – Receive an 8% commission of all funds these affiliates invest
  • Level 2 affiliates – Receive a 2% commission of all funds these affiliates invest
  • Level 3 affiliates – Receive a 1% commission of all funds these affiliates invest

Are There Membership Fees For MyAdStory?

It doesn’t actually cost anything to become a member of MyAdStory however, to become eligible to be a part of the MLM opportunity, and affiliate must have invested in at least one of the Ad Packs. This means that the minimum investment required to be a part of this is the cost of the cheapest Ad Pack plan which is $1.

Is MyAdStory A Scam?

If you’ve come across a review that says MyAdStory is a scam while researching, I wouldn’t be surprised.

A lot of marketers will tell you something is a scam just so they can sell you something else.

So, can you trust those other reviews?

What is the truth about MyAdStory? Is it really a scam, or is it legit?

I would say no, not exactly. However, there are a few things in the business you should be aware of – read on to the conclusion to find out what they are.

Knowing what you’re getting into is the best way to be successful.

See below for my FREE training that will help you make money!

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What’s your Conclusion About MyAdStory?

It already seems as if MyAdStory has launched, and failed- which is hardly a surprise considering its blatant pyramid scheme structure. Cherif’s twitter profile announced the launch on the 28th February (with different investment levels to what are now on offer) but MyAdStory’s website now lists the launch as being on the 8th April.

The business model itself is a commonly seen ad-credit Ponzi scheme which sees affiliates investing funds, for which they receive ad-credits, and are only entitled to ROIs when new affiliates within their unilevel structure make an investment. When affiliate investment is the only source of new capital entering the system, this is clearly a Ponzi scheme structure, something that MyAdStory try to countenance themselves on their website (presumably because it is so obviously the case):

“We are not an investment / HYIP / MLM / Matrix / Cycler / Currency Exchange / Securities site.

Is MyAdStory.com legal?

YES it is legal. In order for any program to be legal, it is required to supply a service and/or product to you”

Regulations introduced to control Ponzi schemes mean it is not a new idea for one to include a ‘meaningless’ product (in this case the ad-credits) to legitimize the offering. Every one of these schemes has some form of product involved these days to circumvent the rules that would otherwise prohibit their existence. But there are legit opportunities such as the Aspire system which I talked about recently where there is a tiered product mix in place.

Any scheme that requires the investment of new affiliates to pay off the existing ones is a Ponzi scheme, no matter what else is being offered. ‘TelexFree’ (offering a VOIP service) and Zeek Rewards (which offered penny auction bids) are two recent ones that fatally collapsed with very similar setups to MyAdStory.

The danger here is that, as with all schemes like this, when the recruitment of new affiliates begins to slow down so will ROI and commission payments. Those at the lower end of the scheme will stop investing further funds which begins to affect those higher up the model who will no longer receive their ROI’s or commissions as expected- thus reducing their own investment in the scheme and causing the problems to cascade.

A scheme collapsing will be bad news for any affiliates who have not already seen a return on investments they have made, with the majority of funds generated likely benefiting the owner and the ten admins of that facebook group we mentioned earlier.

To conclude- It is crucial that when you consider involvement in one of these schemes you approach it wisely. MyAdStory have hardly been transparent about the people behind the company (which should immediately raise red flags) and are being dishonest on their website by purporting the scheme to be something it is not (in reality these ad-credits are worth nothing. The ads appear only on their own website with affiliates being required to click these ads to be eligible for their ROI’s. This means the quality of person clicking your ad- from the perspective of your potential sales for what you are advertising- is zero, since they are only clicking the ad to satisfy their investment criteria, not because they are interested in your ad). As always, schemes like this involve a great risk- so tread carefully.

I hope that you are able to use my research in my MyAdStory Review to make a decision.

If you do decide to become an affiliate with MyAdStory, make sure you take the time to learn how to market yourself.

My FREE training can help you.

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