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.
| Founder | Huascar Lopez, Edwin Abad |
| When Started | 2019 |
| Head Office | Panama City, Panama |
| Opportunity Type | Forex MLM |
| Products | Academic Plans and Forex trading |
| Website | cashfxgroup.com |
| Joining Cost | $300 |
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What is CashFX?
CashFX is a Forex MLM company owned by Huascar Lopez and Edwin Abad, located in Panama City.
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%).
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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
| Plan | Investment Amount | PV earned |
| 300 | $300 | 150 |
| 500 | $500 | 250 |
| 1k | $1k | 500 |
| 2k | $2k | 1000 |
| 3k | $3k | 1500 |
3. Advanced Plans
| Plan | Investment Amount | PV earned |
| 5k | $5k | 2500 |
| 7k | $7k | 3500 |
| 10k | $10k | 5000 |
| 15k | $15k | 7500 |
| 20k | $20k | 10,000 |
Supreme Plans
| Plan | Investment Amount | PV earned |
| 30k | $30k | 15000 |
| 40k | $40k | 20000 |
| 50k | $50k | 25000 |
| 70k | $70k | 35000 |
| 100k | $100k | 50000 |
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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:
| Rank | Level 1 | Level 2 | Level 3 | Level 4 | Level 5 | Level 6 | Level 7 | Level 8 | Level 9 | Level 10 | Level 11 to infinity |
| Affiliate | 10% | 10% | 10% | 10% | – | – | – | – | – | – | – |
| Executive | 10% | 10% | 10% | 10% | 20% | – | – | – | – | – | – |
| Manager | 10% | 10% | 10% | 10% | 20% | 20% | – | – | – | – | – |
| Director | 10% | 10% | 10% | 10% | 20% | 20% | 5% | – | – | – | – |
| President Club | 10% | 10% | 10% | 10% | 20% | 20% | 5% | 5% | 5% | 5% | 1% |
| Ambassador | 10% | 10% | 10% | 10% | 20% | 20% | 5% | 5% | 5% | 5% | 1.5% |
| Global Ambassador | 10% | 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.
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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.
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.
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