Welcome to this Cash Forex Group Review.
Investment and trading, in general, can be a risky business and knowing when to go short or long is the work of experienced brokers and someone you should seek out.
Anyone new to MLMs may think these opportunities look obliging, but very rarely do they come through on their promises.
The best of traders in the business can not promise you consistent returns, not even Warren Buffet so why would anybody believe the “sales pitch” coming from a crypto MLM affiliate?
With the Cash FX Group, we have one of the founders who up to only a few years ago didn’t even know what Forex Trading was. His words, not mine!
Firstly, I would like to inform you that I am not in any way affiliated with the Cash Fx Group and therefore you will not find me trying to sell or pitch to you.
I will, however, give you an honest unbiased account of who the Cash Forex Group are and whether you should consider this opportunity or not.
So, let’s get right into this Cash FX review and see what we can find out.
[Affiliate Disclosure: This post may contain affiliate links which means I may earn a small commission if you purchase anything through one of the links. However, this will not affect what you pay!]
Product: Cash Forex Group
Location: Panama, Central America
Founders: Huascar Lopez, Edwin Abad
Founded: June 2019
Cost to join: $300 – $100,000 in Bitcoin
Best For: Nobody
Summary: Whenever you review a business opportunity, no matter what it is, always do your own research thoroughly that way they will be no surprises.
Pay particular attention to the people running the business.
If the company is not openly upfront about the basic information like who owns or runs the business, then be very careful when making your final decision to join or not. In fact, I would walk away!
If you are sick and tired of SCAMS, Pyramid schemes, MLMs, recruiting, having to purchase stocks, haggling family, friends and customers. Looking for a proven method of making money online, then check out my #1 recommendation.
Internal Summary and Navigation
- What is Cash Forex Group about and who are the Founders?
- Is Cash Forex Group a Pyramid Scheme
- Success is Unlikely with Cash Forex Group
- Let’s look at the Cash Forex Group products
- Cash Forex Group Business Opportunity – What you need to know
- What I like about Cash Forex Group
- What I don’t like about Cash Forex Group
- Is Cash Forex a Scam?
- Cash FX Group Review -Final Analysis
- How I make a Living Online?
- Feedback, Follow and Subscribe
What is Cash Forex Group about and who are the Founders?
The Cash Forex Group promote themselves as a multi-level-marketing forex broker offering a business opportunity to anybody interested.
They were founded in early 2019 by Huascar Lopez and Edwin Abad and are located in Panama City, Panama.
A country that is a tax haven/offshore with a total lack for regulations, which should indicate that the founders are looking out for themselves with little care for its members.
We only have to go back to 2016 and “The Panama Papers” where fraud, tax evasion and evading international sanctions all made worldwide media attention.
A point to note here is that the FCA, that’s the Financial conduct authority which is the UK regulatory service gives an official warning on their website to stay away.
The website does look very professional but when I am researching a business opportunity I expect to find all the relevant information that will convince me that the business is legit and one to pursue further.
The information that I require cannot be found on their official website and would appear that I have to join the Cash Forex Group through one of their sponsors which I am not happy about.
So, who are the founders?
Huascar Lopez is an educated entrepreneur who comes with a marketing degree, and has been involved with cryptocurrencies since 2014 and been a trader since 2016, and according to the website has traded over a $100 million.
Edwin Abad up until a few years ago had never even heard of Forex Trading and is responsible for developing the training modules.
Is Cash Forex Group a Pyramid Scheme?
Well, the Cash Forex Group can be considered to be not a pyramid scheme, as they do have a bunch of training products that could be considered of value.
However, I have seen this set up many times before and the products just ended up being a bunch of crap that was only there to hide behind, and those companies did in fact close down.
I was even part of one and lost a considerable amount of money in the process.
You can take a look at what Pyramid Schemes are all about in this short video.
Success is Unlikely with Cash Forex Group
So why is that you may ask.
Well, Multi-level-marketing companies are notoriously difficult for anybody to succeed in unless you have been invited to their pre-launch.
An event prior to the company opening its doors to the public.
If you don’t have money, experience and don’t have a massive following then forget it because you are not invited.
The one’s who are, sit very firmly at the top of the payment structure or pyramid.
That is why it is very well documented by authorities like the FCA and FTC…
- The top 1% is where the real money goes
- As many as 90% loose money
- Between 50 and 65 per cent leave within the first 12 months
- 99% do not earn enough to replace an existing job
Let’s look at the Cash Forex Group products
There are 4 training modules that claim to make you a forex expert, which I doubt very much.
This can take you many years of studying and besides just what level of training are these going to give you anyway?
They are also 15 investment packs which we will look at in a bit.
Cash Forex Group Business Opportunity – What you need to know
We are seeing a trend here with all MLMs that are involved in cryptocurrencies and forex, is that they all claim to use a sophisticated AI algorithm which does all the trading automatically.
With ridiculous return claims.
If this was so great then why would you share this technology amongst other people when you could keep it to yourself and make a ton of money.
That been said, let’s continue…
How to Become a Cash Forex Group Affiliate
You can register as a Cash Forex affiliate by finding a sponsor and signing up through them.
I don’t know about you but I would like to research my sponsor, after all, they are going to train and guide me, not only in forex trading but how to become successful as a network marketer too.
The last thing you want is someone who’s only interest is recruiting others into his team and that is exactly what normally happens.
How to Make Money with Cash Forex Group
The main way is through recruiting others and making a commission on their investment. Without recruitment, there would be no business, period.
The second way would be to purchase 1 of 15 investment packs.
These range from $300 all the way up to $100,000.
When you purchase one of the above packs they deduct 30% off the top which is some education fee, which leaves you with 70% to invest with.
So, let’s say you were to invest in the top “Supreme Pack”, then straight off the top they would deduct $30,000, leaving you with $70,000 to invest.
What’s also clear is that any returns that you withdraw are also subject to a 20% deduction too. Apparently, a portion of this 20% goes towards a forced Matrix.
Those are some serious deductions don’t you think?
Cash Forex Group Compensation Plan
The compensation plan is how you get paid and whilst they should be pretty straight forward, they often aren’t and for obvious reasons.
At Cash Forex, they use a uni-level structure as can be seen below.
This places you (The Team Leader) at the top and any new affiliate that you recruit would go on level 1
Your first level affiliates who bring in new affiliates would sit on level 2 and so on.
Here we have the printed version of the compensation plan that you can check out here, or else sit back and listen to a video explaining it in more detail.
Are Cash Forex Group Affiliates Actually Making Money?
Well, there is enough evidence to suggest that many Cash Forex affiliates are indeed making money. However, just how much and whether what they are telling you is truthful or not is anybody’s guess.
Many aren’t earning and not been paid and I guess these are to be more believed than the ones making money.
I guess what you will find are the ones who aren’t earning or have issues with receiving payments will be ones that haven’t recruited others into their team or have very small teams.
If you think about it this makes sense because you would want to ensure the larger teams stick around for longer.
What I like about Cash Forex Group
There is nothing I like about the Cash Forex Group.
There are far too many red-flags for my liking.
What I don’t like about Cash Forex Group
- Not regulated and warning from the FCA
The financial Conduct Authority is the UK financial regulators who have put out a warning that you can read about here.
The FCA are there to help the consumer and if a business is not on their register then it is very unlikely if something went wrong that you would get your money back.
- Head offices are in Panama City, Panama
Like I have mentioned earlier Panama is a country that really hasn’t upped its game since the Panama Papers in 2016 and still used by many due to the lapse of regulatory measures.
They are also classed as a Tax Haven too.
That been said, it looks like their so-called head offices might even be a virtual address like we in the UK have a PO Box number.
- Pyramid Scheme in disguise?
I can’t confirm this but they have all the hallmarks of a pyramid scheme in disguise.
That’s where an MLM business hides behind a bunch of products that have no real value.
- Why are they using Bitcoin as the main currency?
The whole business operates using Bitcoin which as we’ve seen in the past is unstable and risky, especially as it has a tendency to drop in value over a period of hours.
This happened in around March 2020 and many were saying this was the end for the Cash Forex Group.
How they dug themselves out of this hole is unsure.
- Rediculous fees that have to be paid
The investment fees that are automatically deducted can vary from $90 – $30,000, which is something to do with education.
There are 20% deducted when you withdraw your earnings, where a partial amount goes into a Forced Matrix.
There are also fees to be paid if you decided to call it a day too.
Is Cash Forex Group a SCAM?
Early in 2020, the writing was on the wall as to whether Cash Fx would, in fact, survive due to the drop in the value of Bitcoin, with many affiliates not been paid.
Affiliates are investing with Bitcoin and returns are paid in Bitcoin.
The big risk here is when Bitcoin does a nosedive (and it will all the time) then problems are going to arise, and the only way out of this is through recruitment or Cash Forex dipping into their Bitcoin reserves to pay affiliates.
They use incentives like expensive watches, luxury holidays, top of the range cars like Porsches and Lamborghini’s to drive recruitment and the ones who usually benefit from this are the top 1%.
Just who pays for these luxury items? Yes the affiliates like you and I, that’s who.
If they were operating as a legit business then they’d be regulated which of course they aren’t.
So is the Cash fx group a scam?
They do operate in a manner that leaves them open to such a claim though.
Cash Forex Group Review – Final Analysis
We have reviewed many of these MLM Cryptocurrency opportunities and they all have similarities.
We have just reviewed a crypto MLM that has recently closed with around $600 million tied up with the liquidators.
If this Cash Forex Group review hasn’t convinced you enough to avoid this business opportunity then go for it and try the lowest investment.
However, if you are looking for real business then affiliate marketing would be my number one recommendation.
I said a real business. because in an MLM, you do not have a business, you are renting office space because if/when the business folds then you have lost everything.
With hundreds of millions of products to choose from which you can promote, with no restrictions like in an MLM.
Wealthy Affiliate has been around since 2005, with many success stories and in my opinion, one of the best training platforms there is for taking a complete novice through to becoming a successful marketer.
How I make a Living Online
I had a career which was very rewarding but time with my family and doing what I wanted to do was more important and affiliate marketing helped me to do this.
Here are just a few success stories that I choose at random…These are just typical of what you can expect.
- Ralph reached his goal of a six-figure business in 2018. Check his story here
- Check out how Eddie earned over $9k in a month here
- See how Dylan sold his site for $40k here
- Darren and 11 sales on Amazon in 1 day here
- Michael’s progress with Wealthy Affiliate referrals alone here
- John’s new commission record exceeds $2k in 1 day here
- Nearly $5k for the month of December for Deborah here
- Michael’s first $30k month here
- How Stephen bought his Lamborghini here
- Kenny says it’s hard to really fail at Wealthy Affiliate here
If you are ready for this amazing journey then why not check this training platform out for free and see what you think.
Feedback, Comments and Subscribe
Hope you enjoyed this Cash Forex Group review and that it opened your eyes, not just about this company but multi-level-marketing businesses in general.
If there is anything I might have missed out or you would like to add something then please leave a comment in the section below.
Until next time, stay safe.
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