CashFX Group Review: Legit or Another Forex-MLM Scam?

cashfx review

This post is CashFX Group review which claims to be a Forex company that works with the tagline “Something Different Something New.”

Here we are going to discuss CashFX’s company profile, its MLM compensation plan, insights plus opinion regarding the company and lastly the answer to the question, Should I Join CashFX?

Without wasting much time, let us quickly dive into the company profile.

icon
CashFX
FounderHuascar Lopez, Edwin Abad
When Started2019
Head Office Panama City, Panama
Opportunity TypeForex MLM
ProductsAcademic Plans and Forex trading
Websitecashfxgroup.com
Joining Cost$300

What is CashFX?

CashFX is a Forex MLM company owned by Huascar Lopez and Edwin Abad,  located in Panama City.

cashFX founders

The company claims to provide two separate opportunities

  • CFX Academy – for learning purposes.
  • Forex – for investment purposes.

Apart from these two, it also combines the MLM opportunities with Forex investment making it a Forex MLM.

CashFX states to provide a Copy Trading facility that gives an Always Win Strategy. It is a tool used in Forex where when any changes are made in the master account, those are automatically reflected in all the connected individual accounts.

According to the SimilarWeb statistics, major traffic to Cashfxgroup.com is from the United Kingdom (29.10%), Australia (8.38%), Norway (7.18%), South Africa (6.36%) and Sweden (6.05%).

Read: Meta Force Review

Joining CashFX

To join CashFX, it is necessary to have a referral link at the time of registering.  Once registration is successfully done, it is compulsory to purchase any of the investment packages to continue the journey.

The investment packages range from $300 to $1,00,000. The academic plans’ access is received with the purchase of an investment plan.

Once 200% passive income or 400% MLM commission is earned, the affiliate needs to repurchase the package.

Let us have a look at the investment packages ahead.

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CashFX Investment Plan

The Forex investment plans are divided into three types: Elemental, Advanced, and Supreme.

1. Academic Plans

The cost of every related academic plan is 30% of the investment plan selected.

2. Elemental Plans

cashfx elemental plans
PlanInvestment AmountPV earned
300$300150
500$500250
1k$1k500
2k$2k1000
3k$3k1500

3. Advanced Plans

cashfx advanced plans
PlanInvestment AmountPV earned
5k$5k2500
7k$7k3500
10k$10k5000
15k$15k7500
20k$20k10,000

Supreme Plans

cashfx supreme plans
PlanInvestment AmountPV earned
30k$30k15000
40k$40k20000
50k$50k25000
70k$70k35000
100k$100k50000

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CashFX Compensation Plan

There are mainly two types of earnings as per the CashFX compensation plan: Bear Capital and Bull Capital.

1. Bear Capital

According to this scheme, passive earnings are earned by investing in the packages. It mainly includes trade earnings and forced matrix bonuses which we will discuss further.

2. Bull Capital

When at least 1 person is added to the direct downline, the affiliate becomes eligible for the benefits of the Bull capital scheme which include a Fast Start Bonus, Uni-Level Bonus, Matching Matrix Bonus and Leadership Rank Bonus.

Fast Start Bonus

When a new Academy Pack is purchased by a downline member, the upline member receives 50% of the value paid as a Fast Start Bonus.

Uni-Level Bonus

When the affiliate decides to join MLM earnings, downline up to infinity levels is permitted. The percentage of the commission depends on the rank of the affiliate as below:

RankLevel 1Level 2Level 3Level 4Level 5Level 6Level 7Level 8Level 9Level 10Level 11 to infinity
Affiliate10%10%10%10% –
Executive10%10%10%10%20% –
Manager10%10%10%10%20%20% – – – –– 
Director10%10%10%10%20%20%5% – ––  –
President Club10%10%10%10%20%20%5%5%5%5%1%
Ambassador10%10%10%10%20%20%5%5%5%5%1.5%
Global Ambassador10%10%10%10%20%20%5%5%5%5%2%
Forced Matrix Bonus

It is paid from the 20% withdrawal fee associated with every account.

cashfx forced matrix bonus

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To Be Concluded

This was all about CashFX, its investment plan and MLM earning opportunities.

CashFX attracts people with great ROI and the MLM plan to earn passively. But it got mixed reviews from users.

As per CashFX’s TrustPilot review, 61% rated it 5 stars whereas 32% reviewed it with 1 star.

Moreover, we found, most people are happy with the returns they got, on the flip-side people are blaming it for being Ponzi scheme and raising concerns about payout delay.

Not only limited to its user, but even the financial authority of various countries has also warned against CashFX Group.

Fraud Warnings

There have been numerous fraud warnings issued against the CashFX group by different countries.

South Africa, Norway, Singapore, Australia, Dominican Republic, Spain, New Zealand, Norway, Canada and Panama are a few names whereas the list is unending.

CashFX Group has been declared an illegal business in Italy and its website is blocked nationally for the citizens.

Quebec, Canada made a list of illegal companies and it also included the name of CashFX Group.

Securities Fraud

If we look forward to the kind of services provided by CashFX Group, it requires licenses and approval from financial regulators for operations. But CashFX is constantly failing in it, which makes it illegal.

CashFX claimed their legality by showing their exchanges through licensed forex broker EverFX but EverFX refused the same.

Firi a Norwegian crypto-exchange has also blocked the CashFX transactions through its platform.

Hence, CashFX is doing securities fraud and people are ignoring this fact for some commission and risking others to it.

Withdrawal Issues

In May 2021 people faced several issues in withdrawing their money from the CashFX website.

Later in November, they stopped the withdrawals near Black Friday stating that it was the result of hackers attacking the website.

Frequent withdrawal issues are clear symptoms of the Ponzi scheme and it shows that withdrawal might be stopped forever at any point in time.

Ponzi Scheme

The CashFX claims to provide high returns with the help of an automatic trading bot but the method of calculation is still unknown.

Actually, CashFX included an MLM compensation plan which constantly brings new investors to the company.

Ponzi+Scheme+Diagram

CashFX operates a money-circulation scheme that provides returns to old investors from the investment of new investors and this cycle goes on.

CashFX needs to bring new people to operate their fraudulent scheme. Whenever the flow of money restricts, they disabled withdrawal.

This is not the first time that a Forex MLM is doing so. Various schemes have done the same thing to fool people and stole in millions.

Should I Join CashFX?

No, we never suggest joining such a company having so many securities fraud warnings. Also, we have seen that many people are facing withdrawal issues.

As CashFX is a classic planned Ponzi scheme, such a company can collapse at any time and take away all your money at once.

Even government and authorities of most countries can’t help people with this scam, as it is not a legal entity and operates through a website.

Read: Elomir Review

CashFX Group $300
Overall
27%
27%
  • Company Profile - 10%
    10%
  • Compensation Plan - 50%
    50%
  • Products - 20%
    20%
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