As tough times remain persistent, people desperately look for ways to push through. That includes exploring new ways to make money, one of which is digital entrepreneurship. The internet offers unlimited opportunities to generate decent incomes, which include FOREX trading, and network marketing. With the right strategy, it's possible to generate six or more figure income per month from any of the two business niches. Nonetheless, each niche has paved the way for the arrival of different products to help investors make maximum profits possible. One of the products is CashFX that is associated with the controversial Cash Forex Group.
If you are reading this honest CashFX review, chances are that you are not new to this product, which has been depicted both positively and negatively by bloggers. In other words, some blogs suggest that CashFX is a legit solution for investors who yearn to make money with either FOREX trading or Network Marketing. Other blogs call it a flat out a Ponzi scheme or scam!
This gives readers and potential investors alike mixed feelings about this product. Do you wish to know the absolute truth about CashFX? If YES, read on this eye-opening Cash Forex Group review that takes a deep dive into the company and product, bringing to light the A to Z of them.
What Is CashFX?
To start with, CashFX is the short form for “Cash FOREX”, which is a paid course supposedly designed to help members get started with FOREX trading and/or network marketing, as potential business opportunities even though we all know how network marketing or multi-level-marketing(MLM) plays out. For many, it ends in a major disappointment!
Cash Forex Group, the entity behind CashFX touts this program as one that's designed to provide members with interactive educational programs, plus the advanced technology as well as technical support necessary to learn and transform their dreams into achievements.
Nonetheless, the company claims that its business model mergers assisted trading systems with algorithms in the Network Marketing and Forex niches to create a unique experience for its global membership that wishes to explore the potential to earn unlimited residual income with its referral program. Clearly, this statement sounds quite ambiguous for any sane person!
Lastly, though CashFX, which supposedly has 60,000 PLUS members, is allegedly available in 185 PLUS countries around the world, it does not(according to the product website) accept members from the USA, Cyprus, Cuba, Iran, Korea, Syria, and Sudan. The exclusion of the US market, which is arguably the envy of every business, to me seems a bit suspicious!
A Brief about the Cash Forex Group?
According to the product website, the Cash Forex Group was founded by an international team of experts in financial markets, network marketing, and project management who always wanted more. It goes ahead to say that, the program is associated with a highly trained staff in the educational realm that is passionate about helping CashFX members master their own financial success.
Nevertheless, the group claims to be based in Panama, South America with an office at the RBS Tower in Panama City. Additionally, it maintains that it's a registered company operating under the following registration: RUC 155665763-2-2018 DV 25. But we were unable to verify none of these claims as details about the company are quite scanty on the internet away from the product website.
Edwin Abad and Huascar Lopez are supposedly some of the top officials running the Cash Forex Group and CashFX. According to the website, Abad who is a FOREX enthusiast is a co-founder of the group and the Vice President of the Trading Operations wing while Lopez who was introduced to network marketing in 2009 by his uncle is the CEO of the group.
Please do me a favor ~ I'm not a rep & don't recommend it ~ Google “CashFX Review” without the “s then click on my…
Features of CashFX
- The CashFX platform is available in multiple languages including English, Espanol, Chinese, Japanese, French, Korean, German, Swedish, and Czech.
- A dashboard that displays a “How To Purchase an Academy Trade Package” video screen, followed by the two primary CashFX packages(Academy Pack and Academy + Trading Pack), when clicked.
- A finance tab with numerous resources including fast start, trading pool, uni-level, matrix, matrix matching, global bonus, leadership prices, balance, request withdrawal, and withdrawal status.
- A networks tab with multiple resources namely; uni-level tree, uni-level report, uni-level pending team, matrix tree, personal referrals, and leadership program.
- An account tab complete with; edit profile; subscription setting; bitcoin wallet; two-factor authentication set up; and payment history; resources.
- An FX Copy tab.
- A FOREX trading and network marketing academy.
- A support tab with a new ticket button and search bar.
- A wide range of learning resources and marketing tools including FAQs, Web TV, webinars
Sign up is free, however, you'll need to pay for a plan before you can access the program upon signing up.
1. Cash FX Academy
This package doesn't entail much except access to the academy/course. Nonetheless, it's split into 2 different elemental modules costing different prices each. Here's a breakdown of each module:
a. Elemental Modules 1 & 2
Going for $240, Elemental Modules 1 & 2 takes learners through the basics of Forex trading, technical analysis as well as underlying concepts behind it.
b. Elemental Modules 1 to 4
The Elemental Modules 1 to 4, which costs $900 includes the lessons from the previous modules. Apart from that, it offers an in-depth introduction to Japanese candlesticks— a technical analysis method that allows traders to chart( to record how trends develop and change) and analyze the price movement of currencies, securities, as well as derivatives.
It begins by describing the various components of a Japanese candlestick and what each symbol denotes. Thereafter, it moves to a more detailed explanation of the different forms of Japanese candlesticks available, including neutral, bullish, and bearish sticks.
2. CashFX Academy with CFX trading pack
The CashFX Academy with CFX trading pack supposedly enables members to access the CFX academy, earn trade rewards, and participate in the affiliate program. Notably, this premium pack is further sub-divided into 3 broad categories each consisting of various packs going for different prices each. The categories are;
This is made up of five different packs namely: Academy Pack 90, Academy Pack 150, Academy Pack 300, Academy Pack 600, and Academy Pack 900. It should be noted that the packs consist of trade pool deposits and leadership programs of different natures, depending on the pack selected.
For example, going for $300, the Academy Pack 90 includes: Trade Pool Deposit 210 and Leadership Program 150. Costing $500, the Academy Pack 150 consists of: Trade Pool Deposit 350 and Leadership Program 250. The Academy Pack 300, which costs $1000, comprises : Trade Pool Deposit 700 and Leadership Program 500. Meanwhile, the Academy Pack 600 is priced at $2000. It is made up of: Trade Pool Deposit 1,400 and Leadership Program 1,000. Last is the Academy Pack 900 that costs $3000. This includes: Trade Pool Deposit 2,100 and Leadership Program 1,500.
Just like Elemental, this packages is further split into five dissimilar packages i.e: Academy Pack 1500, Academy Pack 2100, Academy Pack 3000, Academy Pack 4500, and Academy Pack 6000. Again, the packages entail trade pool deposit amounts and leadership program types, depending on the pack chosen.
For instance, the first package, which costs $5000 comprises: Trade Pool Deposit 3,500 and Leadership Program 2,500. Going for $7000, the second package includes: Trade Pool Deposit 4,900 and Leadership Program 3,500. Meanwhile, the third package costs $10, 000. This comes with: Trade Pool Deposit 7,000 and Leadership Program 5,000. Priced at $15, 000 is the fourth package, which includes: Trade Pool Deposit 10,500 and Leadership Program 7,500. The final package in this category, which goes for $20, 000 consists of: Trade Pool Deposit 14,000 and Leadership Program 10,000.
Similar to the previous plans, this plan entails 5 different packs that are; Academy Pack 9000, Academy Pack 12000, Academy Pack 15000, Academy Pack 21000, and Academy Pack 30,000. Similarly, these go for different prices and include varying trade pool deposit amounts and leadership program types, per package.
For example, the first package, which goes for $30,000 includes: Trade Pool Deposit 21,000 and Leadership Program 15,000. Priced at $40, 000, is the second package that consists of: Trade Pool Deposit 28,000 and Leadership Program 20,000. Then there's the third package, which costs $50, 000. This comes with: Trade Pool Deposit 35,000 and Leadership Program 25,000. Meanwhile, the $70,000-worth fourth package includes: Trade Pool Deposit 49,000 and Leadership Program 35,000. Finally, the fifth package, which is available for $100, 000 consists of: Trade Pool Deposit 70,000 and Leadership Program 50,000
How CashFX Works
It's not surprising that the website does not explain how this program works perhaps because the Cash Forex Group scam isn't a far-fetched hoax. However, I managed to find some pieces of information about that on a blog that seems to promote the product. Having said that, it should be noted that below is not my official position regarding how CashFX works but it's just what I was able to glean from this blog:
To start with, CashFX allows members to make money in two ways each with a compensation plan;
1. Investing in the program to earn ROI commissions.
2. Promoting the program to earn referral commissions.
CashFX offers a couple of levels you can accomplish to earn money as an investor. The levels are; 300, 500, 1000, 2000, 5000, 10, 000, 20, 000, 30,000, 50, 000, and 100, 000, respectively. Nevertheless, you can make between 200% and 400% of the amount you invested. This has a weekly cap of 15%.
Here' s how this works out:
a. The Level 300 can be secured with an investment worth $300. Plus, you'll obtain 150 PV in the Leadership Program. For starters, PV according to the company refers to “Personal Volume”, which is a sales volume attached to your Cash FX package investment.
b. If you want to join Level 500, a $500 investment is what's required from you. With this, you'll get 350 PV for the Trade Pool Deposit and 250 PV in the Leadership Program.
c. To join Level 1000, you'll need to part with $1000. This gives you 700 PV for the Trade Pool Deposit and 500 PV towards Leadership Program.
d. The 2000 Level is available for $2000. Investors on this level enjoy up to 1,400 PV for the Trade Pool Deposit and 1,000 PV towards Leadership Program.
e. Meanwhile, the 5000 Level requires a capital worth $500. This gives you 3,500 PV for the Trade Pool Deposit and 2,500 PV towards Leadership Program.
f. Then there's the 10K Level, which costs $10,000. When you join Cash Forex Group on this level, you'll get 7,000 PV for the Trade Pool Deposit and 5,000 PV towards Leadership Program.
g. Besides that is the Level 20,000 in CashFX, which costs $20,000. This gives you 14,000 PV for the Trade Pool Deposit and 10,000 PV towards Leadership Program.
h. The 30K Level is one of the highest and most profitable in the CashFX investment program. Costing $30,000, it gives you a personal volume(PV) worth 21,000 for the Trade Pool Deposit and 15,000 PV towards Leadership Program.
i. The 50K Level, which costs $50,000 is the second-highest investment level offered by Cash Forex Group. On this level, you get up to 35,000 PV for the Trade Pool Deposit and 25,000 PV towards Leadership Program.
j. The 100K Level is the ultimate investment level offered by CashFX. Requiring a $100,000 investment, it comes with 70,000 PV for the Trade Pool Deposit and 50,000 PV towards Leadership Program. According to the above CashFX review, here is where you can make the most on this platform.
Promoting The Program to Earn Referral Commissions
Besides investing, the other way to make money on CashFX is by promoting the program and bringing in new members. Cash Forex Group offers an elaborate MLM program for that with a compensation plan. Notably, the incomes from this are also capped in the same way as those from investments are. One thing you should keep in mind is that the company takes a withdrawal fee. This is 20% of your commission.
How To Get Started with CashFX
If you wish to try this Cash Forex Group's supposed investment program, it's free to sign up. All they need is your name, username, email address, and password. However, don't forget that signing up is one thing, getting to make money is quite another. Once you sign up, you'll need to invest before you can start generating income. As said earlier, there are numerous investment packages offered at different prices, starting from $240 to $100, 000.
To sign up:
2. After that, choose your preferred language between English, Espanol, Chinese, Japanese, French, Korean, German, Swedish, and Czech, even though English is the default language.
3. Next, click “Register” then fill out the below form with your first name, last name, username, email address, and password, after which check the beneath checkbox to agree to the terms and conditions before clicking “Create an Account.”
4. Once you confirm your email address, it's time to log in to your account and purchase an academy trade package. There's a short video on the screen that walks you through how to do so. Be sure to watch it so that you can buy a package without any challenges. Note that the packages are broadly categorized into two: CashFX Academy and CashFX Academy PLUS Trading Pack with the former being the cheapest option.
Is CashFX a Scam?
Based on the numerous Cash Forex Group scam alerts and warnings online alongside a few indicators, there's no doubt that CashFX could be a potential scam. Just Google CashFX scam and nearly 7 out of the first 10 results that will show up suggest so! Let that be your homework. Besides these scam alerts and warnings, here are a few other indicators that raise serious doubts about the authenticity of this program:
1. CashFX Is Not Regulated.— This is a common characteristic shared by many scams and fraudulent entities involved in the FOREX trading and multi-level marketing niches. The Cash Forex Group doesn't operate under the standards and strict guidelines of any regulator, which means they have no one to answer to. Forget the registration number above because we could not verify it.
2. Besides not being associated with any regulator, CashFX does not accept members from the USA among a few other countries. It's highly suspicious, the fact that the company excluded this important market that is the envy of every business. The only plausible reason for that is; to avoid coming under thorough scrutiny by the authorities.
3. What's more, the core business model of this company is unclear even as it claims to focus on forex trading, on one hand, and network marketing, on the other hand. That is a huge red flag to critical thinkers like you and me.
4. Additionally, CashFX investment plans are a little bit vague-sounding and confusing, to be frank. I had a hard time understanding all that the investment levels above are about. For example, Level 300, which can be joined with an investment of $300 comes with 150 PV in the Leadership Program. Even though the company explains that PV refers to “Personal Volume” that is; a sales volume attached to your Cash FX package investment, whatever that means, only the company knows!
CashFX is a controversial product that people have mixed feelings about. Many people believe it's a scam even though there are a few individuals out there with a contrary opinion. Though we cannot authoritatively say that this supposed FOREX trading and MLM investment program is bogus, we found a lot of indicators that raise serious doubts about its authenticity. For example, the company is not regulated and does not accept members from the USA. Apart from that, it doesn't have a clear or definite business model not to mention give concise explanations about its investment packages and how they work. It's up to you to decide whether to proceed with this program or find a better alternative. Good luck with that!