Success Factory Honest Review: Legit or DagCoin Ponzi Scam?

Success Factory Review

This post is an unbiased review of Success Factory that claims to be the platform for success-minded people.

With the tagline “Work the way you want, earn the way you want and live the way you want” Success Factory MLM claims to change the world and provide opportunities for everyone.

As per the Success Factory official website, they have 500,000+ members present from 158 countries.

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So let’s take dive to understand more about the compensation plan and products of Success Factory. At last, we are going to share our personal review on it.

About Success Factory

In 2007, Success Factory was founded by Nils Grossberg (CEO) & Kris Ress (Chief Visionary Officer).

Success Factory Founder

Partner companies of Succes Factory are skillex.com (Personal development platform), Dagcoin (Cryptocurrency), and DagPay (Digital payments platform).

Success Factory is operated by the DAG corporation. Nils Grossberg is also the founder of Dagcoin and its subsidiaries.

Success Factory promotes Dagcoin and It is considered that Success Factory is the marketing arm of Dagcoin.

Dagcoin’s domain Dagcoin.org is first registered in April 2017 and Success Factory is started in late 2018 as an MLM company.

Similarweb stats show that the majority of traffic to successfactory.com is from Saudi Arabia (25.74%), Sweden (18.52%), Kazakhstan (14.78%), Russia (9.52%) and Estonia (4.38%).

Estonia based founder Nils Grossberg says he wants to change the education system worldwide and the same vision is of his organizations.

But things are not sweet as they seem.

Nils Grossberg has remained the top promoter of OneCoin which is one of the biggest crypto Ponzi scheme scams. Moreover, DagCoin has already received fraud warning from a few nations.

So the question arises,

Before moving to answers to these questions, We will understand more about the business model of Success Factory.

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Company Profile

Company NameSuccess Factory
FoundersNils Grossberg, Kris Ress
When Started2007
Head OfficeAmsterdam, Netherlands
Websitewww.successfactory.com
ProductsForex & Online Services

Joining Success Factory

To join Success Factory, you will need to register on successfactory.com. If you have an invitation link then easily you can access the sign-up page, otherwise, you have to request access.

After signup, you have to simply pay a fee of 25 Euro Annual base for getting site hosting, billing, customer support, and then you can refer new people.

One will also need to buy products from Success Factory.

Success Factory Products

Success Factory has 3 products on their website which are online services.

Success Factory Products

Forex Insiders

Success Factory claims that Forex Insiders make forex trading easy and profitable, for beginners and experts as well. You will get access to the cutting edges trading ideas.

The company also says that Forex Insiders provide you access to data that are analyzed by artificial intelligence and market-leading experts.

This product cost 49.00 Euro per month.

It is also mentioned that on average you’ll receive just one suggestion per day that’s been carefully chosen by the algorithm and additionally verified by top industry analysts.

Bank Connect and Beyond

This product predicts buying behavior in less than 90 seconds.

Bank Connect

To access Bank Connect you have to pay 1.00 Euro per month. It gives you the Bank Pass that generates unlimited leads and sends unlimited personality assessments to your clients.

Bank Beyond

To access Bank Beyond you have to pay 79.00 Euro per month.

It gives you access to BankPass, CodeBreaker AI, Google Chrome Ext, and Bank Vault.

  • BANKPASS: Generates unlimited leads and sends unlimited personality assessments to your clients.
  • CODEBREAKER AI uses cutting-edge artificial intelligence to analyze texts, emails and more.
  • GOOGLE CHROME EXT: Lookup any profile on LinkedIn and decode their personality in a single click.
  • BANK VAULT: Access to 50+ hours of comprehensive Bank virtual training resources.

The View

The View is a virtual platform where you can do all real-world stuff in the virtual world.

You have to choose between four different types of memberships. You can also purchase multiple memberships simultaneously.

  • BASIC (125 Euro)
  • STANDARD (250 Euro)
  • SUPER (500 Euro)
  • ULTRA (1000 Euro)

Each type of membership has different regions and features.

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Success Factory Compensation Plan

According to the Success Factory compensation plan, there are different types of income.

Direct Sales

In this Income, affiliates earn a 10% bonus on personal sales.

10% of the total volume of purchases made by direct downline in a month will be the commission of affiliates.

Matching Commission

The matching commission is 10% over the weaker leg.

For Instance, Imagine you referred to two members each in the left and right leg. The left member did business of 7000 Euro with the whole team and the right member did a business of 12000 Euro.

The left leg with 7000 Euro is your weaker team, therefore you will get a 10% of 7,000 Euro after matching both legs.

Extra 5,000 Euro of right leg will count in the next month.

Leadership Bonus

2 to 5% of leadership bonus is allocated from the business volume of 10 level deep downlines. There is no clear calculation about this bonus.

Kickstart Bonus

A kickstart bonus is given on completing the following goals within 30 days after joining Success Factory.

  • 500 Euro on reaching Gold level which requires 2,500 Euro purchase from the weaker leg.
  • 1000 Euro on reaching Platinum level which requires 5,000 Euro purchase from the weaker leg.

Level Bonus

There are different types of levels in Success Factory. For every level, there are some criteria to fulfill. Members get the level bonus from the topaz level.

The below table will help you to understand this income.

  • W/T is the total required purchase in the weaker team.
  • T/T is the total required purchase from the whole downline.
  • Required Member shows the need of the number of qualified members in the downline.
Level NameW/TT/TRequired MemberLevel Income
Iron250 Euro
Bronze500 Euro
Silver1,000 Euro
Gold2,500 Euro
Platinum5,000 Euro
Topaz8,000 Euro20,000 Euro2 GoldFree Event Ticket
Sapphire 16,000 Euro40,000 Euro2 PlatinumSamsung Tab
Ruby24,000 Euro60,000 Euro2 TopazMount Batik Pen
Emerald32,000 Euro80,000 Euro2 SapphireSamsung Smartphone
Diamond100,000 Euro300,000 Euro2 EmeraldCruise Trip
Blue Diamond250,000 Euro750,000 Euro2 DiamondHublot Watch
Black Diamond500,000 Euro1,500,000 Euro2 Blue DiamondMercedes Benz
Crown Diamond1,000,000 Euro3,000,000 Euro2 Black DiamondApartment
Ambassador2,500,000 Euro10,000,000 Euro2 Crown DiamondFerrari
Royal Ambassador5,000,000 Euro20,000,000 Euro2 AmbassadorPrivate Villa
Crown Ambassador10,000,000 Euro40,000,000 Euro2 Royal AmbassadorYacht

For example: To achieve Ruby level, a member needs to have 24,000 Euro purchase in the weaker team, a total of 60,000 Euro purchase from all downline and 2 Topaz level reached members in the downline. On doing this, a Mount Batik Pen is given as the level bonus. Moreover, other commissions from the downline also increase with growing levels.

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To Be Concluded

This was all about the products and compensation plan of Success Factory.

Overall, Success Factory seems a lucrative opportunity but this is going to be a massive scam.

Here are the major highlights of Success Factory and why we highly do not recommend becoming part of it.

Useless Products of Success Factory

BANK Connect, Forex Insiders, and The View, all of these products are useless where members need to pay hundreds of euros as monthly subscription costs.

Success Factory is not an authorized financial institute, so the forex tips from their so-called experts and AI system can create trouble for you.

The View and Bank Connect have no real-world value. You can get these online services for free or at a very low cost. Success Factory is selling garbage through their members who are mad behind a few euro commission.

Fraud Operators and Promoters

Nils Grossberg the founder of Success Factory and Dagcoin has remained the top promoter of 4 Billion Ponzi scam OneCoin.

OneCoin promoted itself as a cryptocurrency and allowed members to earn referral commissions. Within a few years, it got widely popularised and millions of people become part of it.

At last, the OneCoin scam got caught by government authorities and co-founder Konstantin Ignatov was sentenced to jail for 90 years in November 2019.

After that, government agencies of different countries including India, Thailand, and the UK are taking strict action against top promoters of OneCoin.

Other than Nils Grossberg, Igor Alberts who is MLM Millionaire has also remained a part of the OneCoin scam and now they are promoting their own similar scams Dagcoin and Success Factory.

In such frauds people at the top of the pyramid make money, therefore they intentionally promote scams which causes financial trouble to a large population and few earn commissions.

Already Warning Issued

On 31st August, the Central Bank of Russia has declared Success Factory as a pyramid scheme.

While on 6th October, the Central Bank of Oman caution citizens from the use, holding and trading of cryptocurrencies and they specifically mentioned DagCoin risky.

The financial organization of Oman advises that it’s not given any authorization to any entities to run such schemes.

DagCoin is a Ponzi scheme

DagCoin is a Ponzi scheme. DagCoin has an investment plan and Success Factory as well enforces to invest in DagCoin.

As per DagCoin’s investment plan, as you invest more the ROI will be more. This is the first trait of every Ponzi scheme as they want people to invest more.

They lock your money for a few years and promise a fixed return. Below is the chart of the DagCoin investment plan.

DagCoin-Investment-Plan

Many people thinks DagCoin is a genuine cryptocurrency and it will grow like Bitcoin and Ethereum. This is another myth, we want to break.

DagCoin is not listed on any of the popular cryptocurrency exchanges or even on crypto listing sites. So no one from the outside will invest in it and DagCoin has no future.

Like OneCoin, DagCoin will crash for its Ponzi scheme plan with its subsidiaries including Success Factory.

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