Cash FX Group Scam Updated Review August 2020

There are numerous online scams and particularly when it comes to the online programs purportedly developed to help people earn a decent income over the internet. Just like in other areas of life, some people still believe that there are some shortcuts to success in life without working hard. However, that is never the case when it comes to life, and you’ll find some scam artists over the internet always ready to swindle you off your hard-earned money. Unfortunately, a lot of people normally fall under such traps and even end up spending their savings in hopes of getting rich quickly.

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Today, we’ll be doing a Cash FX Group review, an online platform whose owners proclaim that they would like to show you how you can make a lot of money over the internet even if you don’t have any experience or specialized knowledge in affiliate marketing. We’ll discuss what Cash FX Trading is, the owners of the platform, and how the online program works to determine if the online income opportunity is another online scam or a legit business opportunity.

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What is CFX Trading?

Cash FX Group is generally a multi-level marketing platform that provides you with an opportunity to earn with promised referral commissions and return on investments. The online firm offers you an opportunity to invest through different financial trading education levels that reflect the costs of the level that every person joins at. Looking at the name of the platform, one might think that the firm is in the Cryptocurrency or Forex trading niche, which is not the case.

When you take a closer look at the company’s website, there’s no information about who owns or runs the company. The domain name was registered privately on 3-4-2019 as “cashfxgroup.com”. According to the official website, the official name of this online company is Cash Forex Group. The platform has gained a lot of attention due to their online income claims, but they don’t have any retailing products or services available. The platform claims that they trade the money you invest with them through some external sources and then give you a particular percentage of the gained profit.

When you take a closer look at the company’s website, affiliates are given access to the various packages of the Trade Academy Education that teaches them how to trade and better their finances. Since Cash FX has no retail services or products, the only thing that affiliates are to market the affiliate membership of the company. Once you sign up, you can invest money to participate in the multi-level marketing compensation plan attached.

What is the CFX Marketing System?

CFX Group would like you to believe that the company is investing your cash into Forex trading and later sharing the profit with you. The online program assures you that you’ll make a certain percentage each month and also guarantees a 400% or 200% return. However, that’s not the truth according to their compensation plan. In reality, the company will recruit you as one of their affiliates you and offer you a high incentive to refer or recruit some other people as well.

You will receive a fixed amount as recruitment commissions and also keep balance with them. A percentage from the total balance will also be shared with you as some passive income. In reality, this company is not investing your cash anywhere. Provided they are still getting big numbers of new affiliates, you’ll get your commissions. The marketing system is typically designed in a way that gives you profit after every 30 days, which gives the company adequate time to recruit some more people into the platform. As long as the process continues, you’ll make some money, but once new people stop joining, the money will be gone.

Is Cash FX a Pyramid Scheme?

You can make money with CFX Group, but the money is not coming from selling retail services or products, or might not even be from Forex trading. If that is the case, then the money can only come from the investments made by the new affiliates joining the online company. That means that you’re making your money in an illegal and unethical way. It is also possible for you and other affiliates to continue getting paid by the Cash FX platform until the time when there will be no more people to recruit to the company.

If that happens, CFX will not earn monies coming in, and it’ll stop paying the existing affiliates as well. But of course, these are assumptions build around the concept that Cash FX platform was not typically making money through Forex trading. You can also become a Cash FX group affiliate by purchasing one of the Trade Contracts offered by the company. These Trade Contracts cost between $300 and $100,000. According to the site, 30% of the amount you invest will be utilized to fund the compensation plan of the company, while 70% is utilized on Forex trades.

For instance, if you purchase the Academy 90 Pack for $300, $90 will be used to pay the other company affiliates above you, and only $210 is used for Forex trades. That proves that you’re only making money from the money invested by the new people who join the Cash FX Group. However, each of the available packages offers you access to the CFX Group’s Trading Education Academy, qualifies you to earn residual and recruitment commissions and also earn an ROI every week from Forex trades.

Nevertheless, that is not just a one-time investment. According to the company website, once you have earned the promised 400% or 200% ROI, you need to reinvest to continue participating in the income opportunity offered by Cash FX Group. If you join the program with the Academy 90 Pack that costs you $300, you’re only entitled to get $420 that’s paid to you every week.

Moreover, the amount you invest determines the amount of return on investment you’re entitled to earn typically between 200% and 400%. The more cash you invest in the system, the higher your ROI will be. This system is what is usually referred to as a Pay to Play model, where the earning potential of an individual in a certain program is mainly determined by the amount of money they can invest at the start. Generally, Pay to Play systems are among the common telltale signs of pyramid schemes.

Outside of the Cash FX Group’s passive investment opportunity, the online platform operates just like a pyramid scheme. The online company doesn’t have any retail customers, means that all the commissions are tied to affiliate memberships. Furthermore, in the multi-level marketing part of this business opportunity, you can clearly see that CFX is operating as a Ponzi scheme. If you register as an investor with CFX to make the 400% promised in returns, you can only do that by referring new affiliates to the program and encourage them to invest too.

If recycling the money invested by recruits is what is happening on the multi-level side of the company, then the same is probably happening on the trading side as well. The CFX Group’s compensation plan shows a pay to play tactic by restricting the program’s matrix levels based on the amount affiliates invests in the platform.

The qualifications of multi-level marketing commissions should be tied to the sales volume, not the amount of money invested by the company affiliates. Just like any other MLM Ponzi scheme, when the recruitment of affiliates dies down, investments will die down too. That’ll starve CFX Group of its return on investment, leading to the collapse of the platform in the long run. Once an online company operating as a pyramid or Ponzi scheme collapses, most of the program participants normally lose their money.

Is Cash FX Regulated?

Cash Forex Group platform claims to generate external returns on investment through some trading systems and algorithms. However, this online platform doesn’t provide any proof of trading or disclose any information about their alleged forex trading activities on the company’s website. Furthermore, while the Cash Forex Group provides a passive income opportunity, it does not give any evidence of registering the platform with financial regulators.

Cash Forex Group claims to be regulated by different regulation agencies but such as the Financial Conduct Authority of London (FAC), Financial Sector Conduct Authority of South Africa (FSCA), the Financial Services Authority of Seychelles (FSA), and Financial Services Authority in Dubai (DFSA). Without legally regulatory registration, the CFX Group investors have no way of showing that the online company is using external funds to pay out their returns.

The issue with unregulated investment firms is that they are not dependable and always abuse the regulations. These companies prefer to remain anonymous and can disappear at any time without giving notice. To ensure you’re dealing with a known and regulated investment company, you need to easily see the CEO of the brokerage company and the people running it, among other things. Lack of sufficient information is a red flag because you do not know who will be handling your money. That is one of the reasons why CFX Group is a risky investment firm to invest in.

With Cash FX being unregulated and lack of sufficient information, your money is not safe. The security of money is a big issue with unregulated and uncontrolled investment firms. One of the red flags we have noticed is that Cash FX platform is withholding important information to investors. Cash FX scam can go bankrupt at any time because there is no banking information given about this investment firm.

Is Cash FX a Scam or Legitimate Investing Opportunity?

In my opinion, there is still not sufficient information to say with certainty that CFX is a scam. Nevertheless, there are many red flags about the company that you should be wary about. Here are some of the concerns we have.

1. No retail services or products

One of the biggest reasons why joining Cash FX Group might be risky is because it is a multi-level marketing company that does not have any retail products or services. And since you will not make money selling any products, and then all your Forex trading earnings with Cash FX are questionable at best. Your income will probably come from recruiting new people only. Although there’s nothing wrong with building sales teams and recruitment in a multi-level company, if your income solely depends on affiliate memberships alone, then you need to be careful because you may be involved in a Ponzi or pyramid scheme.

Similar investment firms that operate like CFX collapse only after several months of operation. Even if you normally get training programs that one might consider a product once you join this online company, this education does not provide you with any real value as you can get the resources elsewhere online for free.

2. No history or proof of forex trades

While Cash FX claims to have an exceptional trading bot that provides amazing trading results, the company does not provide any evidence of this purported software application in action. The online company also claims to have developed a partnership and network with various licensed Forex brokers and traders that do the trading activities for them but have not disclosed any evidence to that too.

In my opinion, the money you invest in Cash FX Group once you sign up is not used in trading in Forex but are typically used to pay the existing affiliate promoters of the company. The other thing that is a bit weird about the Cash FX is that the platform only accepts payments in Bitcoin. If Cash FX is involved in Forex trading activities, then I don’t why do they need members joining the platform to pay in Bitcoins. Bitcoin payments make me wonder if Cash FX Group is also dealing in crypto because joining a multi-level company that’s involved in cryptocurrencies is not a good idea. That’s because cryptocurrency is quite volatile and you may incur huge losses in the long run.

3. Similarities to past forex scams

While Cash FX claims to have an incredible trading bot that provides exceptional trading results, the company does not provide any evidence of this alleged software application in action. Previously I came across another sketchy Forex multi-level company known as Lifestyler Club that utilizes a forex trading bot known as AI Expert Adviser. However, I could not get any connection between Lifestyler Club and Cash FX. Nevertheless, Cash FX works similarly to another Forex multi-level company called FX Trading Corp that received lots of disapproval from both its critics and members. To be clear, I am not stating that Cash Forex is a scam but am just pointing out the facts.

4. Fixed returns on investment

Cash FX claims that they’ll return 15% of your first investment in every week. While that might sound amazing, there are no forex traders in the entire world that always win all the Forex trades they put their money into. Besides, no robot or algorithm can predict all the winnings with100% accuracy to guarantee a 15% return every week and daily profits without fail.

Although seasoned forex traders can make educated predictions through data and charts to get a higher probability of winning, there is no assurance that the AI software and the company traders will make some cash all the time. That means that Cash FX knows how to win all their Forex trades, which is impossible. Besides, the online company itself says that trading with Forex is extremely risky and that no forex trading results are guaranteed.

5. Unregistered business operations

While the Cash Forex Group provides a passive income opportunity, it does not give any evidence of registering the platform with financial regulators. Cash Forex Group claims to be regulated by different regulation agencies such as the Financial Conduct Authority of London (FAC), Financial Sector Conduct Authority of South Africa (FSCA), the Financial Services Authority of Seychelles (FSA), and Financial Services Authority in Dubai (DFSA).

The FCA (Financial Conduct Authority), a financial regulatory agency in the UK recently issued a stern warning against the Cash FX Company for operating in the United Kingdom without proper authorization. The investment firm is also not legally registered to operate in the United States. The issue with unregulated investment firms like CFX Group is that they are not dependable and always abuse the documented regulations. Such companies prefer to remain anonymous and later disappear without giving notice.

To make sure you’re dealing with a known and regulated investment company, you need to easily see the people running the company and the agency regulating them, among other things. Lack of clear information about CFX Group registering with financial regulators is a red flag because your investment is not safe. Without legally regulatory registration, the CFX Group investors do not have any way of showing that the online company is using external funds to pay out their returns.

Summary

The Cash FX program claims to get external ROI revenues through various assisted trading systems and algorithms. However, the company does not provide any evidence of the form of trading it does or any information about its alleged trading activities on their official website. Besides, while they offer a passive investment business opportunity, CFX Group doesn’t provide any evidence of being registered with any financial regulators.

Unless Cash FX Group registered with some financial regulators in each jurisdiction it solicits its investments in, the online firm and its marketers are operating illegally throughout the world. Without the legally needed financial regulatory registrations, the people who invest with Cash FX have no way of proving that the online company is utilizing some external revenues to pay affiliates’ returns. Outside of the passive investment opportunity offered by Cash Forex Group Scam, the company typically operates as pyramid schemes. The online platform has no retail customers, meaning all the company’s commissions are usually tied to the recruitment of new members.

https://tonyleehamilton.com/cash-fx-group-scam-updated-review-august-2020/

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Posted by Cash FX Group Review on Thursday, November 12, 2020

Besides, the MLM side of this platform confirms that Cash FX Group operates as a Ponzi scheme. That’s because if you sign up on the platform with the main aim of getting a 200% return, then you can only get that return by recruiting some new investors and have them do the same. Your 200% return is therefore paid out of the subsequent investments. If the MLM side of the platform is recycling the funds invested by new affiliates, there is a high probability that the same is happening on the platform’s trading side as well. Recycling the invested money will starve CFX Group of revenue and eventually prompt a collapse like all pyramid or Ponzi schemes do.

#CashFX #CashForexGroup #CashFXGroup #Forex #ForexTrading ~ Click here for my #1 Recommendation!

In summary, I wouldn’t recommend Cash FX Group Scam to anyone because of the serious issues we’ve seen about it. You should avoid investing your hard-earned money in online programs that seem suspicious. There are lots of red flags on the CFX Group’s site. Even if you would like to ignore them, you cannot miss them. You should only invest in sites and online investment firms whose available information and income claims are easy to verify and those that have sound records of achievements.

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